In a promotion mix, ________ involves personally connecting with carefully targeted
individual consumers to both obtain an immediate response and cultivate lasting
customer relationships.
A) direct marketing
B) advertising
C) public relations
D) predictive analyticals
E) indirect procurement
Answer:
________ markets consist of individuals and households that buy goods and services
for personal use.
A) Consumer
B) Business
C) Government
D) Wholesaler
E) Retailer
Answer:
Movie theaters charge matinee pricing during the daytime, and resorts give weekend
and seasonal discounts. This is illustrative of a ________ pricing strategy.
A) product form
B) market-penetration
C) market-skimming
D) time-based
E) value-added
Answer:
In a SWOT analysis, ________ refer to favorable factors or trends in the external
environment that a company may be able to exploit to its advantage.
A) strengths
B) strategies
C) threats
D) opportunities
E) controls
Answer:
A detailed version of a product idea stated in meaningful consumer terms is a
________.
A) product feature
B) product concept
C) product idea
D) product image
E) product framework
Answer:
________ is the sum of all the values that customers give up to gain the benefits of
having or using a product or service.
A) Payroll
B) Profit
C) Price
D) Cost
E) Salary
Answer:
________ advertising primarily maintains brand relationships and is important for
mature products.
A) Comparative
B) Persuasive
C) Personalized
D) Reminder
E) Classified
Answer:
Consumers’ needs and wants are fulfilled through ________.
A) value
B) demand
C) desire
D) market offerings
E) ideas
Answer:
Which of the following are the fastest-growing forms of marketing?
A) direct and digital
B) undifferentiated and differentiated
C) internal and external
D) mass and targeted
E) standardized and customized
Answer:
In a marketing communications mix, ________ refers to any short-term incentive that
encourages the purchase or sale of a product or service.
A) advertising
B) sales promotion
C) personal selling
D) crowdsourcing
E) public relations
Answer:
A country’s ________ shapes its product and service needs, income levels, and
employment levels.
A) quotas
B) tariffs
C) raw material export economy
D) subsistence economy
E) industrial structure
Answer:
A company that sells only one product line to one industry with customers in many
locations would typically use a ________.
A) product sales-force structure
B) territorial sales-force structure
C) market sales-force structure
D) customer sales-force structure
E) complex sales-force structure
Answer:
Which of the following is true of RFID or ‘smart tag” technology?
A) “Smart tag” technology eliminates the need for intermediaries and facilitates a direct
marketing system.
B) “Smart tag” technology can de-automate the entire supply chain.
C) The use of ‘smart tag” technology makes it difficult to know where a product is
located physically within the supply chain.
D) Retailers and suppliers using ‘smart technology” have higher risks of shoplifting and
robbery.
E) “Smart shelves” can tell when it is time to reorder and can place orders
automatically.
Answer:
A ________ is made up of a company, its suppliers, its distributors, and its customers
who partner with each other to improve the performance of the entire system.
A) value chain
B) shareholder network
C) business portfolio
D) value delivery network
E) growth-share matrix
Answer:
A(n) ________ is considered a marketing intermediary.
A) customer
B) producer
C) manufacturer
D) wholesaler
E) advertiser
Answer:
A(n) ________ is best suited for exploratory research.
A) mail survey
B) questionnaire
C) observation
D) online survey
E) focus group
Answer:
Ethnographic research is ________.
A) a standard analysis of publicly available information
B) conducted in settings where people live and work
C) an approach that provides only secondary data
D) most feasible when customers live in distant locations
E) used by marketers seeking quantitative data
Answer:
How has the Internet most likely affected direct and digital marketing?
A) The time taken by marketers to reach customer segments has increased.
B) The role of technology has become less intense.
C) The expenditures on direct and digital marketing have increased.
D) The growth of digital sales has seen a significant downturn.
E) The number of mass marketing forms has expanded.
Answer:
Brandy’s, a national candy store chain, decides to open both a coffee house and ice
cream shop within their stores to create a multi-faceted experience for shoppers. The
company decides to enter into deals with two well-known retailers The Beanery and
Creamy Creations. As stipulated in their respective contracts, The Beanery and Creamy
Creations cannot enter into the same type of agreement with any other candy retailers.
All three companies will enjoy greater sales, and ultimately profits, from the
arrangement. This is most likely an example of a(n) ________ marketing system.
A) direct
B) administered vertical
C) corporate vertical
D) contractual vertical
E) horizontal
Answer:
A major advantage of a mail survey is that it ________.
A) provides significant flexibility
B) offers strong sample control
C) generates high response rates
D) eliminates interviewer bias
E) can be completed quickly
Answer:
The presentation stage of the selling process most likely involves ________.
A) cold calling in the absence of potential leads
B) fixing the final meeting with a customer to close a deal
C) gathering information about an organization and its buyers
D) showing how a company’s products can solve a customer’s problems
E) requesting an order from the customer after handling any minor objections
Answer:
When a manufacturer offers a ________, a customer buys a product from a
manufacturer’s dealer within a specified time period, and the manufacturer then sends
the customer a check.
A) cash rebate
B) quantity discount
C) promotional allowance
D) flash sale
E) functional discount
Answer:
Devon is in the market for a new car. She is seriously considering either a Honda Civic
or Toyota Corolla because they both have excellent quality and safety ratings and are
comparable in price. Devon is in the ________ stage of the buyer decision process.
A) evaluation of alternatives
B) need recognition
C) information search
D) purchase decision
E) postpurchase behavior
Answer:
In a straight rebuy, a buyer ________.
A) wants to obtain the same product from a lower-priced supplier
B) reorders something without any modifications
C) considers a product or service for the first time
D) needs a modified product to suit new requirements
E) finds new ways to add value to the same product
Answer:
What type of pricing is being used when a company temporarily prices its products
below the list price to create buying excitement and urgency?
A) segmented pricing
B) psychological pricing
C) geographical pricing
D) promotional pricing
E) dynamic pricing
Answer:
Which of the following is a difference between storage warehouses and distribution
centers?
A) Storage warehouses are used to store agricultural products, while distribution centers
are used to store nonagricultural products.
B) Storage warehouses store goods for moderate to long periods, while distribution
centers are used to move goods rather than just store them.
C) Storage warehouses are always owned by a producer, while distribution centers are
rented.
D) Storage warehouses are more likely to use newer, computer-controlled systems,
while distribution centers generally use outdated materials-handling methods.
E) Storage warehouses are exclusively used by government agencies, while distribution
centers are exclusively used by private businesses.
Answer:
Chips of Joy, a leading chocolate chip cookie manufacturer, has decided to use the same
marketing strategy approaches and marketing mix worldwide for all of its brands. The
only change that will be made is language translation on the various packaging. Chips
of Joy is using a(n) ________ marketing strategy.
A) collective global
B) standardized global
C) adapted global
D) joint global
E) direct global
Answer:
As a result of ________, a company cannot make its product illegally similar to a
competitor’s already established product.
A) anti-monopoly laws
B) patent laws
C) antitrust laws
D) product warranties
E) product liability
Answer:
A firm that uses direct marketing would most likely sell its products through ________.
A) one marketing intermediary
B) big box retailers
C) large wholesalers
D) multiple intermediaries
E) the company Web site
Answer:
The promotion of products and services through printed material with multiple pages
that sell multiple products has been traditionally referred to as ________ marketing.
A) catalog
B) viral
C) telephone
D) television
E) e-mail
Answer:
The Dance Company, a renowned dance studio in Manhattan, enters into an agreement
with La Danza in Spain to operate several dance studios. La Danza will provide capital
for running the dance studios and The Dance Company will contribute its
world-renowned expertise about the art of dance. In this case, The Dance Company
enters a foreign market through ________.
A) contract manufacturing
B) management contracting
C) licensing
D) joint ownership
E) direct investment
Answer:
PC manufacturer, Lenovo, focuses on low labor costs and mass distribution to ensure
the continuous availability of its products at reasonable prices. Lenovo most likely
follows the ________.
A) customer-driving marketing concept
B) marketing concept
C) societal marketing concept
D) production concept
E) selling concept
Answer:
Vertical conflicts in distribution channels are conflicts that occur between ________.
A) same levels in the same channel
B) different levels of the same channel
C) same levels of different channels
D) different levels of different channels
E) retailers and customers
Answer:
Companies are likely to gain ________ through speedy, convenient, or careful delivery
of products.
A) price differentiation
B) product differentiation
C) channel differentiation
D) services differentiation
E) people differentiation
Answer:
Differentiate between line extensions and brand extensions. Provide an example of
each.
Answer:
Briefly explain the societal marketing concept.
Answer:
Explain competition-based pricing.
Answer:
Identify the product characteristics that influence the rate of adoption of a product.
Explain how each characteristic affects the rate of adoption.
Answer:
Identify and discuss the major social criticisms of marketing.
Answer:
Differentiate between the BCG matrix and the product/market expansion grid.
Answer:
Differentiate between power centers and lifestyle centers.
Answer:
What are the important factors that a marketer should be aware of when developing a
creative concept for an advertisement?
Answer:
What are the functions of product labels? What marketing role do labels play?
Answer:
According to the Boston Consulting Group approach, how can a company classify its
SBUs on a growth-share matrix?
Answer:
List the various types of sales promotions. What are the objectives of each type?
Answer:
Briefly explain each step in a typical product life cycle.
Answer:
In the context of the business buying decision process, what is a buying center? Explain
why it presents a major marketing challenge.
Answer:
Explain product line pricing. Provide an example.
Answer:
Identify the social costs of increased automobile ownership. Describe two options for
restoring the balance between private and public goods. Give specific examples.
Answer:
What are the two different types of costs a company incurs? Explain with examples.
Answer: