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A company with a large product assortment might
A. have many product lines with little selection in each.
B. have a single product line.
C. have many individual products.
D. All of these choices are correct.
Planning marketing strategies for international markets:
A. is usually most effective when the marketing manager uses the same marketing
strategy for all markets.
B. is often easier than planning domestic strategies because economic, political, and
other uncontrollable variables are less important.
C. is "easy" because each country should be treated as one target market.
D. None of these alternatives is true.
Circle Z Tires is a retailer of car tires. Unless the store manager requests something
different, every month there is an automatic order of 10 XZ Performance Tires and 12
J-1 wheels from Box Tire Supply. This is an example of a
A. new-task buy.
B. modified rebuy.
C. straight rebuy.
D. modified buy.
E. simplified buy.
A company has three products (X, Y, and Z) that it sells, packs, and ships to its
customers. Because the products have different sizes they also have different packing
and shipping costs so we will use a new measurea packing/shipping unit. Because
Product Y is the smallest of the three products, we will assign it a value of 1
packing/shipping unit. Product X is twice as big as Product Y and Product Z is four
times as big as Product Y. On a monthly basis, this company sells an average of 1,500
units of Product X, 800 units of Product Y, and 60 units of Product Z. If the company
spends on average of $3,720 each month on total packing/shipping costs, what amount
should it allocate to Product Z per month (to the nearest dollar amount)?
A. $101
B. $169
C. $221
D. $498
E. $736
Ken Prescott has noticed several television commercials for BestYeta new brand of
shampoo. While washing his hair, he thinks about what would happen if he replaced his
current shampoo with BestYet. What stage in the adoption process has Ken reached?
A. evaluation
B. feedback
C. decision
D. interest
E. awareness
All of the following products are in the market maturity stage of the product life cycle
except:
A. laundry detergents.
B. breakfast cereals.
C. e-readers.
D. carbonated soft drinks.
E. gasoline-powered cars.
Consumers usually want to shop for milk, meat, vegetables, and fruits at one convenient
location. Grocery stores that offer all of these products help to alleviate this
___________.
A. discrepancy of quantity
B. accumulation deficit
C. sorting error
D. discrepancy of assortment
E. bulk-breaking
Tammi Soloft has itchy eyes and a stuffy nose, and suddenly becomes aware of many
TV ads for allergy products that she never noticed before. This illustrates:
A. selective exposure.
B. selective perception.
C. selective retention.
D. reinforced cognition.
E. None of these alternatives is correct.
Using General Electric's 'strategic planning grid," an opportunity rated "medium" in
terms of industry attractiveness and "medium" in terms of business strengths would be
evaluated as:
A. yellowborderline.
B. redfor no growth.
C. greenfor growth.
D. could be yellow, red, or greenbecause the grid really doesn't deal with "medium"
ratings.
Which of the following observations regarding ethnic shifts in the American market is
FALSE?
A. Estimates indicate that Hispanics spend nearly $1 trillion a year.
B. Estimates indicate that African Americans spend nearly $1 trillion a year.
C. Estimates indicate that Asian Americans spend over $500 billion a year.
D. The buying power of ethnic submarkets is increasing rapidly.
E. None of these observations about ethnic shifts is FALSE.
Dividing large quantities into smaller quantities as products get closer to the final
market is called _____.
A. accumulating
B. bulk-breaking
C. sorting
D. assorting
E. dividing
Good marketing managers know that:
A. most salespeople are "bags of wind."
B. good salespeople try to help customers buy.
C. the role of the salesperson has been down-graded in business marketing.
D. organizational buyers have little use for salespeople.
E. the salesperson's job is to "get rid of the product."
When studying consumer needs, a marketer should:
A. know that a product may be a want or a need depending on what the consumer has
learned during his/her life.
B. try to understand how the marketing mix can satisfy a set of needs, rather than only
one.
C. realize that he or she cannot create needs, merely identify them.
D. All of these alternatives are correct.
Many important changes are affecting marketing strategy planning. For example, the
introduction and growing use of smart phones is illustrative of changes in the area of:
A. Channels and logistics.
B. Personal selling.
C. Demographic patterns.
D. Marketing research.
E. Communication technologies.
Positioning analysis
A. helps managers understand the actual characteristics of their products.
B. is not a product-oriented approach.
C. is a visual aid to understanding a product-market.
D. shows that managers and customers usually view present brands similarly.
E. always leads a firm to segmenting and not combining.
What is left of income after paying for taxes and paying for necessities?
A. Net income.
B. Real income.
C. Deductible income.
D. Gross income.
E. Discretionary income.
Each month the sales staff of TechPro Products makes an average of 209 sales calls on
prospective customers at a cost of about $4,600 (salary plus expenses). What is the
average cost of a sales call (to the nearest dollar amount)?
A. $22
B. $25
C. $28
D. $31
E. $34
Control helps marketing managers learn how:
A. to plan for the future.
B. implementation is working.
C. ongoing plans are working.
D. All of these are correct.
E. None of these are correct.
Interest rates
A. often change with changes in the economy.
B. affect consumer markets, but not business customers.
C. usually decrease during periods of inflation.
D. do not directly affect the total price borrowers must pay for loans.
E. don't affect the prices buyers pay.
A situation analysis is a formal study of what information is already available in the
problem area.
The traditional communication process does NOT include:
A. response.
B. receiver.
C. encoding.
D. feedback.
E. source.
Which of the following retailers spend more on advertising as a percent of sales?
A. Amusement parks.
B. Hotels and motels.
C. Women's clothing stores.
D. Grocery stores.
E. Eating places.
The median family income in the U.S. in 2010 was about:
A. $30,000.
B. $40,000.
C. $50,000.
D. $75,000.
E. $100,000.
Which of the following is typically the lowest risk approach for moving into
international markets?
A. licensing
B. exporting
C. joint venturing
D. direct investment
E. management contracting
Which of the following illustrates that time and surroundings are factors of the purchase
situation that can greatly stimulate buying behavior?
A. Routine trip to grocery store
B. Using mass transit to and from work
C. Black Friday shopping
D. Buying online
E. Paying monthly cell phone bill
A trademark
A. has no legal meaning.
B. includes those words, symbols, or marks that are legally registered for use by a
single company.
C. is any word, letter, or a group of words or letters.
D. is the value of a brand to its current owner or to a firm that wants to buy it.
E. is protected by the Magnuson-Moss Act.
The text considers five "eras" of marketing evolution. Which of the following shows the
logical order in which these eras occur?
A. Marketing department, production, sales, simple trade, marketing company
B. Sales, production, marketing department, marketing company, simple trade
C. Sales, simple trade, marketing company, production, marketing department
D. Simple trade, production, sales, marketing company, marketing department
E. Simple trade, production, sales, marketing department, marketing company
LAGGARDS or NON-ADOPTERS:
A. are usually the smallest businesses with the least specialization.
B. tend to be older and less well educated.
C. rely mainly on other laggards for information.
D. are suspicious of new ideas.
E. All of these are correct for LAGGARDS.
In the US, social class groupings are typically based on all of the following EXCEPT:
A. type of housing.
B. education.
C. community participation.
D. occupation.
E. location of housing.
When companies in a market-directed economy try to find "little monopolies" for
themselves,
A. success is likely to attract more competitorsand squeezing of the innovators' profits.
B. they will fail.
C. this reduces innovation, new investment, and economic growth.
D. the allocation of resources will be the same as in a purely competitive economy.
E. this forces consumers to buy newpossibly more expensiveproducts that they do not
want.
