An increasing number of American workers currently work from their homes or remote
offices and conduct their business by phone or the Internet. This trend has created a
________.
A) booming real estate market in the big cities
B) booming SOHO market
C) decline in the demand for convenience foods
D) decline in the demand for financial services
E) steady increase in global enterprises
The market researchers at HoneyCamp Foods gather daily sales data and sort it by
product line and region. With the help of sophisticated tools and techniques, they
develop the data needed by marketing managers to evaluate the market share of the
company’s different products and also to gain valuable market insights. This mix of
people and procedures at HoneyCamp Foods that generate actionable marketing
insights represents a(n) ________.
A) enterprise planning system
B) product mix
C) strategic planning system
D) marketing information system
E) business portfolio
The collection of businesses and products that make up a company is called its
________.
A) strategic business unit
B) supply chain
C) strategic plan
D) business portfolio
E) internal value chain
Rachel loves fashion and is always seen wearing the trendiest fashion outfits. She
actively shares her knowledge with a wide group of friends and colleagues about where
to shop for the latest fashion at great deals. Most of her friends and colleagues follow
her fashion tips. Rachel portrays the image of a(n) ________.
A) surrogate consumer
B) lagging adopter
C) opinion leader
D) brand personality
E) social networker
Which of the following is true of ethnographic research?
A) It is a type of experimental research that involves evaluating group responses.
B) It involves sending observers to watch and interact with consumers in their natural
environments.
C) It is a traditional quantitative research approach.
D) Information used in this mode of research is mainly derived from secondary data
sources.
E) It is a form of survey research.
________ have formal authority to select the supplier and arrange the terms of
purchase.
A) Users
B) Influencers
C) Buyers
D) Gatekeepers
E) Deciders
Using a(n) ________ strategy, the producer directs its marketing activities toward final
consumers to induce them to buy the product.
A) pull
B) blitz
C) push
D) buzz
E) pulse
________ is the process by which people select, organize, and interpret information to
form a meaningful picture of the world.
A) Motivation
B) Perception
C) Dissonance
D) Learning
E) Self-actualization
Briefly compare the different types of research approaches for gathering primary data.
Which of the following is true with regard to value-added pricing?
A) Companies that practice value-added pricing typically match the competition by
cutting prices.
B) Companies practicing value-added pricing differentiate their offers by attaching
value-added features to offerings that, in turn, justify higher prices.
C) The intrinsic value of products sold by companies practicing value-added pricing is
far less than their actual selling price.
D) Companies practicing value-added pricing primarily rely on cost differentiation.
E) Value-added pricing is the most suitable pricing strategy in pure monopolies.
Costs that change with the level of production are referred to as ________.
A) fixed costs
B) variable costs
C) target costs
D) total costs
E) overhead costs
Managers at the Imperial Hotel-Chicago complained that the chain’s overall image was
hurt because Imperial Hotel-Dallas was overcharging guests and providing poor
service. The Imperial Hotel was experiencing ________ conflict.
A) equilateral
B) vertical
C) multitiered
D) communal
E) horizontal
Which of the following is true with regard to a SWOT analysis?
A) It classifies SBUs into four distinct categories.
B) It measures customer response to a new product.
C) It evaluates the company’s overall strengths.
D) It evaluates the growth potential of a market segment.
E) It ignores the threats faced by a company while assessing its situation in the market.
Macy’s department stores carry a wide range of product lines, including clothing,
jewelry, kitchenware, and home furnishings. Macy’s typically charges a relatively high
markup, but also holds frequent sales and price promotions, in particular offering
discounts to customers who use a Macy’s credit card. Macy’s uses ________.
A) self-service retailing
B) experiential retailing
C) high-low pricing
D) everyday low pricing
E) retail convergence
RedFin manufactures diving equipment that is highly regarded by customers
worldwide. Each department in RedFin contributes to its success and can be thought of
as a(n) ________.
A) link in the company’s internal value chain
B) separate organization
C) independent subsidiary of the company
D) separate market segment
E) SBU
A market challenger that matches the competitor’s product, advertising, price, and
distribution efforts is most likely ________.
A) creating multiple niches
B) pursuing an indirect attack
C) launching a full frontal attack
D) exiting from the current market
E) implementing a blue ocean strategy
________ research involves observing customers in a natural context on the Internet.
A) Causal
B) Netnography
C) Survey
D) Ethnographic
E) Geomarketing
For which product would a company use an exclusive distribution strategy?
A) luxury cars
B) newspapers
C) chewing gum
D) dairy products
E) soft drinks
Franklin & Marshall College wishes to contact high school seniors at independent
schools in Pennsylvania. Which of the following media would be most effective and
efficient?
A) a Facebook page for the college
B) local newspapers ads throughout the state
C) radio ads throughout the state
D) a direct mail piece sent to selected students
E) billboards throughout the state
A ________ is made up of the company, suppliers, distributors, and customers who
partner to improve the performance of the entire system.
A) value delivery network
B) horizontal channel
C) consumer base
D) product delivery network
E) product line
A ________ calls for consumers to submit an entry to be judged by a panel that will
select the best entries.
A) contest
B) sweepstake
C) sample
D) premium
E) rebate
Which of the following is an objective of persuasive advertising?
A) communicate customer value
B) correct false impressions
C) describe available services and support
D) keep the brand in a customer’s mind during off-seasons
E) change customer perceptions of product value
Which of the following is an example of an internal stimulus that would most likely
lead to problem recognition?
A) A buyer gets a new idea from an advertisement.
B) A buyer gets a new idea at a trade show.
C) A buyer is unhappy with a current supplier’s product quality.
D) A buyer receives a call from a salesperson offering better service.
E) A buyer learns about a new product at an industry convention.
Digital technology allows companies to reach out to customers in numerous ways.
Which of the following is NOT the purpose of a company reaching out using digital and
social media?
A) solving consumer problems
B) building customer relationships
C) helping customers shop
D) providing product information
E) working with suppliers
Proton Corp. is an automobile manufacturer known for producing efficient, durable, and
low-priced cars. Recently, the company launched a new range of luxury cars to broaden
its market appeal and to add prestige to its existing line of cars. This is an example of
________.
A) social marketing
B) product line filling
C) product line stretching
D) internal marketing
E) cannibalization