Type
Quiz
Book Title
A Preface to Marketing Management 14th Edition
ISBN 13
978-0077861063

MET 603 Quiz 1

October 29, 2015
Which of the following statements is true about organizing the multinational company?
A. The integration of markets is forcing companies that wish to stay successful to
remain domestic.
B. In determining whether or not to globalize a particular business, managers should
look first at their industry.
C. A multidomestic strategy, as a competitive strategy, is inherently more vulnerable to
risk than a domestic strategy or a global strategy.
D. Structure, management processes, and culture are some of the external factors that
facilitate a company's efforts to undertake a global approach to marketing strategies.
Answer:
Rita is a purchasing agent who is looking for a supplier with whom her firm can build a
long-term, sole-sourcing relationship. She rates potential suppliers on the basis of how
efficiently they can fulfill the firm's supply needs and these ratings enable her to select
the best vendor. In the context of the organizational buying process, Tabatha is currently
in the _____ stage.
A. organizational need
B. purchase activity
C. postpurchase evaluation
D. vendor analysis
Answer:
With regard to the adopter categories of the diffusion of innovation, laggards are:
A. fearful of debt, but may eventually purchase a well-established brand.
B. the first to purchase a product through early-bird promotional offers.
C. venturesome and are willing to take risks.
D. most likely to begin buying new goods if the experience of innovators is favorable.
Answer:
Marked Technologies Inc. had an idea for a new airplane rudder. When it could not gain
access to the resources it needed to develop the new product, it entered into a long-term
partnership with Z-High Airlines. Today Z-High Airlines uses this rudder on its
commercial passenger jets. The relationship between Marked Technologies and Z-High
Airlines is an example of a(n)_____.
A. intrapreneurial venture
B. franchise
C. acquisition
D. strategic alliance
Answer:
Which of the following views of distribution channels recognizes that much can be
gained by developing long-term commitments and harmony among channel members?
A. Channel integration
B. Vertical marketing
C. Relationship marketing
D. Strategic maneuvering
Answer:
Service products are often difficult to identify, since they:
A. can be sold in the sense of ownership transfer.
B. are bought and consumed at the same time.
C. are composed of tangible elements that cannot be easily transferred.
D. cannot be exchanged directly from producer to user.
Answer:
Western Graphtec Corp. is a large-scale public corporation that makes machines used
for agricultural purposes across the country. The company's management consists of
professionals from diverse fields that include engineering, marketing, and production,
but the company is primarily described as a technology-oriented company. Owing to its
diversity, Western Graphtec's organizational structure has low centralization.
Considering these factors, Western Graphtec is more likely to:
A. adopt an autonomous posture to decision making.
B. allow only production managers to dominate purchase decisions.
C. practice joint decision making to capitalize on the considerable level of
decentralization in the organization.
D. eliminate all instances of straight rebuys and use only modified rebuys and new task
purchase systems.
Answer:
In the VALSâ„¢ framework, the _____ dimension of primary motivation provides
context about an individual's self-perception and worldview.
A. horizontal
B. external
C. vertical
D. internal
Answer:
Which of the following statements is true regarding market penetration strategies?
A. They involve the creation of new products for a market.
B. They involve encouraging present customers to purchase more of a product.
C. They involve diversifying into an unrelated business.
D. They involve marketing to new customers.
Answer:
_____ is a syndicated data provider.
A. ACNielsen
B. U.S. Industrial Outlook
C. Survey of Current Business
D. Guide to Foreign Trade Statistics
Answer:
Soy and Soup, a restaurant in the city of Uberlin, wants to open a vegan restaurant in
the city of Prim. To ensure that Prim has a market for vegan food, Soy and Soup
conducts research on the market. It sends out a team of researchers to conduct short
interviews with the public asking a standard set of questions about the kinds of food
they enjoy eating and whether they would like to eat at a restaurant that serves only
vegan food. Which of the following research methods has Soy and Soup used in this
scenario?
A. Experimental research
B. Archival research
C. Survey research
D. Observational research
Soy and Soup has used survey research to understand the market in Prim. Survey
research involves the collection of data by means of a questionnaire either by mail,
phone, or in person. Personal surveys involving structured questions are useful but
expensive.
Answer:
An advertisement for a popular fashion magazine reads: "Act now. Buy a 24-issue
subscription and save $49 off the newsstand price." This is an example of a _____.
A. promotional allowance
B. slotting allowance
C. quantity discount
D. functional discount
Answer:
Which of the following pertains to the marketing dimensions of a product?
A. Product feature
B. Promotion strategy
C. Design
D. Packaging
Answer:
The nation of Lancaster is embroiled in civil war. Its citizens, who are against the
government, have resorted to armed conflict. Consequently, which of the following
problems is a foreign company operating in Lancaster likely to face?
A. Cultural misunderstanding
B. Import restrictions
C. Legal risks
D. Political uncertainty
Answer:
The BCG matrix identifies _____ as strategic business units (SBUs) that have a low
share of a low-growth market.
A. cash cows
B. question marks
C. stars
D. dogs
Answer:
Which of the following statements is true of product quality?
A. Quality encompasses only the tangible aspects of a firm's products or services.
B. The customer is the key perceiver of quality.
C. Quality is only evaluated from the perspective of the manufacturer.
D. Companies rarely formalize an interest in providing quality products.
Answer:
The central government of Arcadia requires that 80% of the proprietorship of a
corporation should be held by its citizens. This particular requirement of the
government is attributed to which of the following?
A. Exchange controls and ownership restrictions
B. Export restrictions
C. Import restrictions
D. Cultural misunderstandings
Answer:
Which of the following is true of local advertising agencies?
A. Companies using local advertising agencies are able to take advantage of economies
of scale.
B. Local advertising agencies in emerging markets take a more entrepreneurial and
fresher approach to advertising than global agencies.
C. Local advertising is always more successful than advertising through global
agencies.
D. Local advertising agencies are better than global agencies in adapting a firm's
message to different cultures.
Answer:
In contrast to consumer products, organizational goods are often distributed through
_____.
A. the direct channel
B. the horizontal channel
C. peer-to-peer marketing
D. administered marketing
Answer:
ID Goods Corp. sells safety footwear to its client base that includes oil refineries, meat
processors, catering companies, hospitals, and cleaning services for the use of their
employees. The company maintains a database that contains customer information and
a history of each of their purchases. It monitors how each order is processed and
follows up promptly by offering ongoing guidance on product maintenance. The
company responds quickly to complaints and seeks customer satisfaction. Based on
these activities, it can be inferred that ID Goods is involved in _____.
A. repositioning
B. aftermarketing
C. strategic alliancing
D. functional partnering
Answer:
Which of the following best defines a product feature?
A. It refers to the design of a firm's production facilities.
B. It refers to a producer's unstated promise of delivering high product quality.
C. It refers to an assurance by a manufacturer that a product will perform properly.
D. It refers to a fact or particular specification about a product.
Answer: