The second phase of the strategic marketing process is the __________.
A. tactics phase
B. strategic phase
C. planning phase
D. implementation phase
E. evaluation phase
Answer:
A marketing metric refers to
A. a measure of the quantitative value or trend of a marketing activity or result.
B. a form of linear trend analysis used to project future profits based on existing
marketing plans.
C. one of a series of mathematical formulas used to calculate potential profits based
upon different scenarios of the forces in the marketing environment.
D. information about an organization’s core values and code of ethics so marketers can
quickly spot deviations and take corrective actions.
E. the value of a product in terms of its contribution to employee welfare.
Answer:
One disadvantage of using magazines as an advertising medium is
A. the inability to target specific audiences.
B. the long lead-time needed to place an ad.
C. the extremely low cost.
D. the antagonism with environmentalists.
E. the lack of noise associated with their use in the communication channel.
Answer:
Which of the following is a characteristic of the growth stage of the product life cycle?
A. advertising emphasis switches to primary demand
B. a growing proportion of repeat purchasers to initial purchasers
C. the number of distribution outlets shrinks due to growing inefficiencies
D. profit margins increase as sales increase
E. no new product features are added to maximize profits
Answer:
Figure 8-7
Figure 8-7 above shows the market-product grid for a Wendy’s restaurant next to a large
urban university campus with chosen market segments and product groupings. The next
step is to develop a simple marketing action to reach a target market. Sending out
coupons for 10 percent off all purchases between 2:00 p.m. and 4:30 p.m. during the
winter quarter would target potential
A. dormitory customers.
B. night commuter customers.
C. between-meal snack customers.
D. after-dinner snack customers.
E. apartment customers.
Answer:
Which of the following statements regarding social forces is most accurate?
A. Social forces can have a dramatic impact on marketing strategy.
B. As a social force, consumer incomes have more impact on marketing strategy than
demographics.
C. Social forces within an organization motivate employees to improve their
productivity.
D. Social forces determine all of the other environmental forces that affect an
organization.
E. Of all the environmental forces, social forces are the easiest for a marketer to
manipulate.
Answer:
In the hierarchy of effects, the consumer’s repeated purchase and use of the product or
brand is referred to as the __________ stage.
A. evaluation
B. adoption
C. awareness
D. interest
E. trial
Answer:
During a recessionary period, which of the following economic behavior would be
expected?
A. Consumer spending would increase.
B. The use of credit would decline.
C. Taxes would increase nationally.
D. Property values would jump dramatically.
E. Consumers would use the majority of their discretionary income on entertainment.
Answer:
A measure of the quantitative value or trend of a marketing activity or result is referred
to as
A. trend analysis.
B. a marketing measurement.
C. a marketing dashboard.
D. a marketing metric.
E. value analysis.
Answer:
Figure 11-6
Suppose you are the owner of a picture frame store and you wish to calculate how many
pictures you must sell to cover your fixed and variable costs at a given price. Let’s
assume that the demand for your pictures is strong, so the average price customers are
willing to pay for each picture frame is $120. Also, suppose your fixed costs (FC) total
$32,000 (real estate taxes, interest on a bank loan, etc.) and unit variable cost (UVC) for
a picture frame is $40 (labor, glass, frame, and matting). If your picture frame store sold
2,000 picture frames, what would your profit or loss be?
A. a loss of $32,000
B. $0 – just able to break-even
C. $32,000 profit
D. $112,000 profit
E. $128,000 profit
Answer:
If Ben & Jerry’s sold a line of new “Get the Dough Out of Politics” T-shirts targeted to
college students in Latvia, it would be using a __________ strategy.
A. product development
B. market development
C. market penetration
D. diversification
E. market saturation
Answer:
Coca-Cola hosts MyCoke.com that allows people to congregate online and exchange
views on topics of common interest. This website is an example of __________.
A. spam
B. a shopping bot
C. a web community
D. a blog
E. a web caf
Answer:
Russ Berry Company sells stuffed animals and holiday gifts. When its salesperson asks
a retailer, “Do you want to order the two dozen assorted bears or two dozen white-only
bears?”, he has executed which stage of the selling process?
A. approach
B. presentation
C. handling objections
D. closing
E. follow-up
Answer:
Because services depend on the people who provide them, the quality of a service is
often
A. independent of managerial policies.
B. inconsistent.
C. inventoried.
D. tied to a product.
E. independent of the quality delivered.
Answer:
Figure 16-1
Based on the social media identified in Figure 16-1 above, the social media site rated
LOWEST in media richness is
A. Wikipedia.
B. Blogger.
C. Facebook.
D. World of Warcraft.
E. WordPress.
Answer:
In the organizational buying process, important product or service characteristics
include
A. delivery time, technical assistance, and postsale service.
B. low price, buyer incentives, and extended contracts.
C. buyer incentives, technical assistance, and exclusive contracts.
D. quantity discounts, delivery time, and exclusive contracts.
E. low price, buyer incentives, and post-sale service.
Answer:
Figure 16-1
Based on the social media identified in Figure 16-1 above, blogs are
A. highly interactive websites.
B. high in self-disclosure but low in media richness.
C. low in self-disclosure but high in media richness.
D. websites that are low in self-disclosure.
E. websites that are high in media richness.
Answer:
The next big change coming to television advertising will most likely be
A. OTV or online TV.
B. digital video recorders (DVRs).
C. 16 K Ultra HD satellite TV.
D. 90-second commercials.
E. iPad remote controls.
Answer:
Customer value refers to
A. the need of a customer to receive the highest quality product at the lowest possible
price.
B. the least expensive product that will provide it with most of the basic benefits.
C. a statement that, before product development begins, identifies (1) a well-defined
target market; (2) specific customers’ needs, wants, and preferences; and (3) what the
product will be and do to satisfy consumers.
D. the unique combination of benefits received by targeted buyers that includes quality,
convenience, on-time delivery, and both before-sale and after-sale service at a specific
price.
E. the cluster of benefits that an organization promises customers to satisfy their needs.
Answer:
A set of human characteristics associated with a brand name is referred to as
__________.
A. a symbolic brand
B. a brand personality
C. a brand psychographic
D. brand personification
E. product personification
Answer:
As a result of __________, consumers do not remember all the information they see,
read, or hear, even minutes after exposure to it.
A. selective retention
B. selective comprehension
C. selective exposure
D. selective perception
E. subliminal discrimination
Answer:
Figure 12-1
A variety of terms are used for marketing intermediaries. According to Figure 12-1
above, Box A represents a(n) __________.
A. retailer
B. middleman
C. wholesaler
D. distributor
E. agent or broker
Answer:
All of the different product lines offered by an organization are collectively referred to
as a
A. product class.
B. product mix.
C. product SKUs.
D. marketing mix.
E. target mix.
Answer:
With profit-oriented approaches to pricing, a price setter may choose to balance both
__________ and __________ to set price.
A. revenue; profit
B. tangible goods; services
C. cost; revenue
D. demand; supply
E. cost; demand
Answer:
Figure 13-5
According to Figure 13-5 above, C represents which stage of the retail life cycle?
A. stabilization
B. early growth
C. accelerated development
D. maturity
E. decline
Answer:
The social network that is used solely for sharing videos is
A. Google.
B. Facebook.
C. YouTube.
D. Twitter.
E. LinkedIn.
Answer:
The predominant person-to-person trading community in the world is
A. Facebook.
B. Amazon.
C. NASDAQ.
D. CraigsList.
E. eBay.
Answer:
Figure 15-1
According to Figure 15-1 above, which of the following media alternatives has the
SMALLEST amount of advertising expenditures?
A. newspapers
B. radio
C. magazines
D. outdoor
E. television
Answer:
Figure 7-1
A. A
B. B
C. C
D. D
E. E
Answer:
For the marketer, a thorough __________ involves an understanding of and an
appreciation for the values, customs, symbols, and language of other societies.
A. market synthesis
B. international sociographic study
C. anthropological examination
D. cross-cultural analysis
E. ethnocentrism assessment
Answer:
__________ seeks to leverage the value-adding capabilities of both electronic
marketing and traditional delivery. Catalogs can serve as shopping tools for online
purchasing, and websites can help consumers do their homework before visiting a store.
A. Direct marketing
B. Indirect marketing
C. Intensive marketing
D. Multichannel marketing
E. Automated marketing
Answer:
In terms of brand loyalty, consumers prefer specific brands but will accept substitutes
for which type of consumer product?
A. shopping product
B. convenience product
C. specialty product
D. unsought product
E. discretionary product
Answer:
Criteria for forming segments involve both similarities and differences. Which of the
following statements is most accurate?
A. Within a segment, the needs of potential buyers should be different; among
segments, the needs of buyers should be similar.
B. Within a segment, the needs of potential buyers should be similar; among segments,
the needs of buyers should be different.
C. The needs of buyers should be different, both between segments and within
segments.
D. The needs of buyers should be the same, both between segments and within
segments.
E. If there are any differences at all, you should forgo any segmentation.
Answer:
Employees who report unethical or illegal actions of their employers are referred to as
A. whistle-blowers.
B. scabs.
C. cronies.
D. corporate snitches.
E. ombudsman.
Answer: