Members of Generation Y, also known as __________, are interested in sustainability in
order to make the world a better place.
A. activists
B. sustainers
C. progressives
D. reformers
E. millennials
Answer:
Standard markup pricing refers to
A. adjusting the price of a product so it is “in line” with that of its largest competitor.
B. setting the price of a line of products at a number of different price points.
C. setting prices to achieve a profit that is a specified percentage of the sales volume.
D. increasing the price slightly to protect against undue profit losses from unforeseen
environmental forces.
E. adding a fixed percentage to the cost of all items in a specific product class.
Answer:
There are four popular types of franchising: (1) __________; (2)
manufacturer-sponsored wholesale franchise systems; (3) service-sponsored retail
franchise systems; and (4) service-sponsored franchise systems.
A. contractual-sponsored franchise systems
B. wholesaler-sponsored franchise systems
C. manufacturer-sponsored retail franchise systems
D. horizontal-marketing franchise systems
E. customer-oriented franchise systems
Answer:
Alana operates a wedding preparation service that aids brides-to-be in the planning of
their weddings. To maintain a quality image and a standardized offering, Alana provides
extensive training for each of her employees. What unique aspect of services is Alana
trying to address?
A. impressionability
B. intangibility
C. inconsistency
D. inseparability
E. uniqueness of the service
Answer:
Which of the following statements about global brands is most accurate?
A. A global brand has centrally coordinated marketing programs.
B. A global brand is marketed under different names but uses identical ads for all
markets.
C. A global brand alters the product formulation or service for each geographical
region.
D. A global brand delivers multiple benefits based on the GDP of each country.
E. A global brand is a collaborative effort among several different national firms.
Answer:
The North American Free Trade Agreement was designed to encourage free trade
between
A. North America, Central America, and South America.
B. the United States and the European Union.
C. member countries originally from NATO (North Atlantic Treaty Organization).
D. the United States, Canada, and Mexico.
E. North America and the Commonwealth of Independent States.
Answer:
When customers have their groceries scanned at the supermarket checkout counter, the
data are collected and processed by tracking services such as IRI’s InfoScan. Consumer
product firms like Procter and Gamble use data collected by IRI to allocate scarce
marketing resources. Which of the following data are NOT collected at retail checkout
counters?
A. coupon redemptions
B. product bar codes
C. product sales
D. free sample redemptions
E. household demographics
Answer:
Mike Morgan, a sales representative for a major food service distributor of Betty
Crocker’s Warm Delights, wanted to encourage larger purchases by supermarkets and
mass merchandisers. In order to accomplish this objective, Morgan offered the
following discounts to his customers: a 10 percent discount for buying 1-49 cases of
Warm Delights within a calendar month. The discount increases to 12 percent if 50-99
cases of Warm Delights are purchased and to 15 percent if 100 or more cases of Warm
Delights are purchased within the same calendar month. What type of discount was
Morgan offering his customers?
A. a seasonal discount
B. a quantity discount
C. a cash discount
D. a trade discount
E. a case allowance discount
Answer:
Within the context of a supply chain, __________ is the ability of a logistics system to
satisfy users in terms of time, dependability, communication, and convenience.
A. quick response
B. customer service
C. distribution management
D. efficient consumer response
E. lead time
Answer:
Inventory management systems that are designed to make the process of reordering and
receiving products as simple as possible are referred to as __________.
A. efficient consumer response systems
B. order replenishment systems
C. customer logistics factors
D. minimum-inventory systems
E. web-based response systems
Answer:
Bill McDermott is the CEO of SAP, which is a company that sells expensive enterprise
resource planning software to large and mid-sized companies. McDermott operates at
the __________ level of his organization.
A. business unit
B. functional
C. corporate
D. strategic
E. tactical
Answer:
An expanded marketing mix for services that includes the four Ps (product, price,
promotion, and place or distribution) as well as people, physical environment, and
process, is referred to as the __________.
A. seven Ps of services marketing
B. service matrix
C. service continuum
D. service encounters
E. service mix
Answer:
The alternative evaluation stage clarifies the problem for the consumer by __________,
yielding brand names that might meet the criteria, and developing the consumer value
perception that each alternative presents.
A. evaluating particular products
B. selecting the type of purchase outlet
C. suggesting criteria to use for the purchase
D. minimizing cognitive dissonance
E. establishing a purchase timeline
Answer:
An organization with a market orientation
A. focuses its efforts on continuously collecting information about the environment,
keeping abreast of competitors’ actions, and using this information to create product
innovation.
B. identifies prospective buyers, understands them intimately, and develops favorable
long-term perceptions of the organization and its offerings so that they will choose it in
the marketplace.
C. strives to satisfy the needs of consumers while also trying to achieve its goals.
D. satisfies the needs of consumers in a way that provides for society’s well being.
E. focuses its efforts on continuously collecting information about customers’ needs,
sharing this information across departments, and using it to create customer value.
Answer:
Assembling and protecting products at a convenient location to offer better customer
service would be an example of a __________ function performed by a channel
intermediary.
A. transactional
B. facilitating
C. grading
D. risk taking
E. logistical
Answer:
In the private purchase of a used car, __________ places the burden on the buyer to
make sure the car is worth the price, so it is advisable to take the car first to a mechanic.
Once the transaction is complete the buyer will not receive a warranty or return option
from the seller.
A. modus operandi
B. caveat emptor
C. de facto marketing
D. ćest la vie
E. anguis in herba
Answer:
Set during the marketing research process, __________ are the specific, measurable
goals the decision maker seeks to achieve in conducting the marketing research.
A. measures of success
B. research constraints
C. marketing research plans
D. hypothetical scenarios
E. research objectives
Answer:
Potluck participants bring a variety of dishes to share with family, friends, or coworkers
at these events, but it is easy to forget to take the bowl that you brought home with you.
Reynolds responded to this problem by creating PotLux cookware, attractive and
inexpensive disposable dishes for transporting food. Reynolds is using __________
segmentation here.
A. psychographic
B. behavioral
C. demographic
D. social
E. geographic
Answer:
Once a company has decided to enter the global marketplace, it must select a means of
market entry. Four general options exist: (1) exporting; (2) licensing; (3) __________;
and (4) direct investment.
A. franchising
B. joint venture
C. cooperative
D. multiparty initiative
E. mutual investment
Answer:
Walmart made a conscious decision to use a(n) __________ supply chain in order to
best meet the needs of its consumers.
A. integrated
B. responsive
C. harmonized
D. efficient
E. multi-tiered
Answer:
Organizations such as American Airlines, U.S. Bank, and the Red Cross provide
customers with products that are typically called a(n) __________.
A. utility
B. performance
C. service
D. value
E. idea
Answer:
The alternative evaluation stage clarifies the problem for the consumer by suggesting
criteria to use for the purchase, __________, and developing consumer value
perceptions.
A. evaluating particular products
B. selecting the type of purchase outlet
C. establishing a purchase timeline
D. minimizing cognitive dissonance
E. yielding brand names that might meet the criteria
Answer:
Figure 12-4
Figure 12-4 above depicts the four most common marketing channels for business
products and services. Channel C would be an appropriate marketing channel for
__________.
A. IBM mainframe computers
B. Caterpillar excavators
C. Marathon electrical motors
D. Stake industrial fasteners
E. Bombardier aircraft
Answer:
The ability to shop over the Internet 24 hours a day, 7 days a week provides consumers
with __________ utility.
A. form
B. time
C. convenience
D. possession
E. performance
Answer:
Self-fulfillment in the Maslow hierarchy of needs is an example of the highest-order
needs referred to as
A. physiological needs.
B. social needs.
C. safety needs.
D. personal needs.
E. self-actualization needs.
Answer:
If a firm’s marketing dashboard displays a BDI under 100 for a consumer packaged
good, such as General Mills’ Warm Delights Minis, this indicates which of the
following?
A. a weak brand position in a segment
B. a strong brand position in a segment
C. above-average product category purchases by a market segment
D. below-average product category purchases by a market segment
E. There is not enough information to make any conclusions.
Answer:
Today’s visionary organization uses three key elements to __________, set a direction,
and formulate strategies.
A. set financial goals
B. specify its foundation
C. establish detailed marketing tactics
D. assign job responsibilities
E. establish an organizational chart
Answer:
Federal regulations contain provisions that allow consumers to avoid being called at
any time through the __________, and impose fines for violations.
A. Do Not Disturb Registry
B. Do Not Call Registry
C. Do Not Interrupt Registry
D. Do Not Infringe Registry
E. Do Not Agitate Registry
Answer:
Apple launched its iPhone in 2007, the first smartphone that used a multi-touch user
interface. iPhone unit sales then skyrocketed for several years. Recently, growth in
smartphone sales have slowed and profits have declined due to fierce competition from
Samsung, Motorola, Nokia and others. In which stage of the product life cycle are
smartphones like the iPhone?
A. decline stage
B. commercialization stage
C. growth stage
D. accelerated development stage
E. introduction stage
Answer:
The term that describes the change in the growth of the world’s population is called the
__________.
A. population contraction
B. population inversion
C. population migration
D. population explosion
E. population eruption
Answer:
Where it is desirable for the interviewer to be flexible in asking probing follow-up
questions, data would be best collected using
A. mail surveys.
B. mechanical observations.
C. fax surveys.
D. individual interviews.
E. on-line surveys.
Answer:
Bakery items, dairy products, and meat that are sold for cash in their original packages
are traditionally sold by which type of wholesaler?
A. rack jobbers
B. drop shippers
C. cash and carry wholesalers
D. truck jobbers
E. general merchandise wholesalers
Answer:
Figure 2-5
Quadrant C in Figure 2-5 above represents the marketing strategy of __________.
A. product development
B. market penetration
C. market development
D. product penetration
E. diversification
Answer:
Which of the following is a cost-oriented approach to pricing?
A. cost-plus pricing
B. skimming pricing
C. prestige pricing
D. loss-leader pricing
E. bundle pricing
Answer:
The text, video, audio, and graphics that are found on a website are referred to as
__________.
A. content
B. context
C. creativity
D. communication
E. connection
Answer: