The move of the “Baby Boomers” into the 45-64 age group:
A. increased the average age of the population.
B. created new opportunities in financial services.
C. contributed to increased interest in health and fitness products.
D. All of these are correct
Answer:
Marie Callender has developed a new brand of frozen dinners to compete with the
well-established brands. It probably should use a marketing mix of:
A. exclusive distribution, skimming pricing, and persuasive advertising.
B. intensive distribution, introductory price dealing, selective demand advertising, and a
combined “push” and “pull” policy.
C. intensive distribution, price cutting, reminder advertising, and a “pull” policy.
D. selective distribution, penetration pricing, pioneering advertising, and a “push”
policy.
E. selective distribution, skimming pricing, selective demand advertising, and a “push”
policy.
Answer:
The total stream of purchases that a single customer could contribute to a company over
the length of the relationship is called customer ____.
A. equity
B. lifetime value
C. service
D. satisfaction
E. feedback
Answer:
Which of the following is not a type of service wholesaler?
A. General merchandise
B. Cash-and-carry
C. Specialty
D. Single-line
E. General-line
Answer:
MASS SELLING, in contrast to personal selling:
A. is less expensive when the target customers are numerous and scattered.
B. doesn’t provide immediate feedback.
C. is less flexible in adapting to customers’ needs and attitudes.
D. All of these alternatives are correct.
Answer:
“Positioning”:
A. applies to new products-but not existing products.
B. helps strategy planners see how customers view competitors’ offerings.
C. is concerned with obtaining the best shelf space in retail outlets.
D. is useful for combining but not for segmenting.
E. eliminates the need for judgment in strategy planning.
Answer:
Which of the following sales promotion activities is aimed primarily at wholesalers and
retailers of a product?
A. Promotion allowances
B. Point-of-purchase materials
C. Coupons
D. Portfolios
E. Bonuses
Answer:
Consumer product classes are based on ______________, while business product
classes are based on ______________.
A. how the product is to be used, the price for the product
B. how consumers shop for the product, how the product is to be used
C. the price of the product, the quality of the product
D. how the product is produced, how the product is sold
E. how the product is sold, how the product is produced
Answer:
Focusing a company’s advertising on its name and prestige is called ______________
advertising.
A. reminder
B. primary
C. institutional
D. competitive
E. pioneering
Answer:
Which of the following adopter groups is described correctly?
A. Laggards-respectable
B. Innovators-willing to take risks
C. The late majority-follow the innovators
D. The early majority-opinion leaders
E. Early adopters-traditional
Answer:
In a _____________ situation, competitors offer very similar marketing mixes, which
customers see as close substitutes, and managers just compete with lower and lower
prices as profit margins shrink.
A. capitalistic competition
B. pure competition
C. monopoly
D. monopolistic competition
E. collectivist competition
Answer:
Point-of-purchase materials is a sales promotion activity aimed at
A. distributors.
B. company’s own sales force.
C. intermediaries.
D. retailers.
E. final consumers.
Answer:
Business market researchers commonly use ______________ because of their
flexibility.
A. mail questionnaires
B. focus group interviews
C. personal interviews
D. telephone interviews
E. none of these choices is a good answer.
Answer:
Which of the following gives the correct ORDERING of the steps in the “adoption
process?”
A. Interest, awareness, trial, decision, evaluation, dissonance
B. Awareness, interest, evaluation, trial, decision, confirmation
C. Awareness, interest, trial, evaluation, decision, dissonance
D. Awareness, interest, trial, decision, evaluation, confirmation
E. Awareness, interest, evaluation, decision, trial, confirmation
Answer:
Regarding product life cycle planning, good marketing managers know that:
A. a “me-too” new brand may immediately enter during market growth or market
maturity.
B. every brand must go through the sales decline stage.
C. market introduction is usually profitable for the innovator.
D. any change in an existing product results in a new product life cycle.
E. All of these alternatives are true.
Answer:
A firm has run a comparative ad, and a competitor immediately complained that the
claims made by the ad are deceptive. In such a case,
A. the ad agency that created the ad could share responsibility in any action brought by
the FTC.
B. the firm that sponsored the ad might need to provide research proof that its claims
are accurate.
C. the Federal Trade Commission has the power to require corrective advertising-if the
ad was really deceptive.
D. All of these alternatives are true.
Answer:
Advertising
A. tries to attract attention to the firm and its offerings without having to pay media
costs.
B. is any unpaid form of nonpersonal presentation of ideas, goods, or services.
C. must be paid for, while another form of mass selling-publicity-is “free.”
D. is the main form of personal selling which includes the use of traditional media as
well as new media.
E. involves direct spoken communication between sellers and potential customers.
Answer:
Which of the following is NOT considered a product?
A. Tax advice from a financial consultant.
B. A computer.
C. A haircut.
D. A chair.
E. All of these are considered products.
Answer:
Which of the following is a strategy to combat consumer showrooming?
A. Integrating online and brick-and-mortar store operations.
B. Utilizing big data analytics.
C. Scrambled merchandising.
D. Central stocking from multiple channels.
E. Amazoning the product line.
Answer:
Spruce Pine Mfg. Co. has total fixed costs of $300,000 a year. The owner estimates that
average variable costs for its product will be about $30 next year. The selling price to
wholesalers will be $50. The break-even point is:
A. 6,000 units.
B. 10,000 units.
C. 12,000 units.
D. 15,000 units.
E. None of these alternatives is correct.
Answer:
In quantitative research, it is common for researchers to ask questions and offer a
variety of fixed answers from which to choose-such as multiple-choice questions. This
approach is advantageous for all the following reasons except:
A. responses can be summarized in percentages, averages, or other statistics.
B. it simplifies analysis of the replies.
C. it is more convenient for computer analysis.
D. respondents may reply faster and easier.
E. it limits the broad range of possible answers to ones envisioned by the researchers.
Answer:
The method by which suppliers provide deliveries to organizations precisely when the
buyer needs them (“just in time”) involves this dimension of buyer-seller relationships:
A. cooperation.
B. information sharing.
C. operational linkages.
D. legal bonds.
E. relationship-specific adaptations.
Answer:
Purchasing specifications
A. may simply include a brand name or part number when purchasing requirements are
complicated.
B. for services, as compared to goods, tend to be detailed because services are usually
performed before they’re purchased.
C. for services, as compared to goods, tend to be detailed because services are more
standardized than goods.
D. are often simple for manufactured items with highly standardized quality.
E. None of these alternatives is correct.
Answer:
A firm faces the high cost of missed opportunities when:
A. it introduces a marketing mix which fails.
B. it doesn’t offer a new marketing mix.
C. its products are rejected by a certain market segment.
D. it has an ineffective positioning statement.
E. the purchasing power of its target customers is low.
Answer:
___________ shopping products are products that the customer sees as basically the
same and wants at the lowest price.
A. Regularly unsought
B. New unsought
C. Specialty
D. Unsought
E. Homogeneous
Answer:
In which quadrant of the S.W.O.T. analysis tool does the following fit? A firm is in a
fast-growing industry.
A. Strengths
B. Weaknesses
C. Opportunities
D. Threats
Answer:
Rack jobbers
A. specialize in hard-to-handle assortments of products that a retailer does not want to
manage.
B. own the products they sell but they do not actually handle, stock, or deliver them.
C. promptly deliver perishable products that regular wholesalers prefer not to carry.
D. sell out of catalogs that may be distributed widely to smaller industrial customers or
retailers.
E. are basically manufacturers’ agents who specialize in international trade.
Answer:
Which of the following illustrates the marketing concept in action?
A. A young lawyer gives free legal advice to poor people.
B. A local police department organizes a “community crime watch” program in a
neighborhood that has had many burglaries.
C. Several lawyers set up a group practice-so that the costs of the office and equipment
can be shared.
D. None of these illustrate the marketing concept in action.
Answer:
Specialty shops:
A. offer fewer services than the typical limited-line store.
B. have trouble deciding what to carry because it’s hard for them to get to know what
their customers want.
C. rely heavily on knowledgeable salesclerks.
D. usually sell convenience products.
E. None of these alternatives are correct for specialty shops.
Answer:
When Colgate encourages its current customers to brush more often by taking their
toothbrush and toothpaste to work with them, which market opportunity is Colgate
pursuing?
A. Market development
B. Product development
C. Diversification
D. Market penetration
Answer:
According to the text, single-line stores are also known as
A. general stores.
B. limited-line stores.
C. specialty shops.
D. department stores.
E. boutique stores.
Answer:
For heterogeneous shopping goods, marketers should:
A. utilize knowledgeable salespeople who can provide insights about different brands
and models.
B. sell through low-cost retailers.
C. avoid selling through online stores.
D. provide limited customer support as customers focus mostly on low prices.
E. keep the level of salesforce in the retail stores to the lowest level possible.
Answer:
A computer manufacturer runs training programs for its “cooperating” retailers’
salespeople, as well as providing newspaper advertising layouts, point-of-purchase
materials, and sales manuals. This is an example of:
A. an administered channel system.
B. a contractual channel system.
C. a traditional channel system.
D. a vertically integrated corporate channel system.
E. a franchising system.
Answer:
A firm’s sales compensation plan should consider
A. the pay for other jobs in the firm.
B. the amount of direct control desired by the firm.
C. the amount of selling versus nonselling time.
D. what competitors pay salespeople.
E. all of these alternatives should be considered in a firm’s sales compensation plan.
Answer: