Profit refers to
a. the point at which a company’s assets equal its liabilities plus shareholder equity.
b. the difference between the list and final price of a product or service.
c. the money earned when the economic order quantity is minimized.
d. the money left over after a business firm’s total expenses are subtracted from its total
revenues.
e. the total amount of revenue accrued through product sales or service distribution.
Answer:
Figure 1.
In Figure 1. above, “A” represents a(n) __________ when comparing independent
agents and a company salesforce.
a. indifference point
b. break-even point
c. inflection point
d. trade-off point
e. profit point
Answer:
Figure 1.
Figure 1. above represents the six steps in the price-setting process. Which letter
represents the step where a firm would use a demand-oriented approach to setting
price?
a. “A”
b. “B”
c. “C”
d. “D”
e. “E”
Answer:
A statistical area of at least one urbanized area of 50,000 or more people and adjacent
territory that has a high degree of social and economic integration is referred to as a
a. micropolitan statistical area.
b. metropolitan statistical area.
c. downtown statistical area.
d. zip code.
e. combined statistical area.
Answer:
Figure 1.
According to Figure1. above, column “C” represents a
a. continuous innovation.
b. discontinuous innovation.
c. dynamically continuous innovation.
d. spontaneous innovation.
e. simultaneous innovation.
Answer:
Tricon was the restaurant division of PepsiCo until it was spun off in 1997. Since then,
Tricon has opened 6,000 KFC restaurants abroad. It has 158 restaurants in Indonesia
and more than 500 restaurants in China. All are locally owned and the owner pays a fee
to Tricon. Tricon is engaged in
a. direct exporting.
b. indirect exporting.
c. licensing.
d. contract manufacturing.
e. foreign assembly.
Answer:
In its early years, Facebook was a “closed” system, which meant that Facebook
a. prevented outside search engines from cataloguing and reporting mentions of a
brand.
b. put a limit on the number of countries in which Facebook could be accessed, such as
China.
c. had a policy to prevent collaboration with other sites such as MySpace.
d. restricted brands from creating awareness through an individual Facebook Page.
e. allowed users to have strict control over who shared their photos.
Answer:
An action item list refers to an aid to implement a marketing plan that consists of four
columns: (1) __________, (2) the person responsible for completing the task, (3) the
date to finish the task, and (4) what is to be delivered.
a. the task
b. the budget
c. the product or service
d. the points of difference
e. the promotional message
Answer:
Retailers have come to realize that consumers want products that are consistent with
their personal values and
a. foreign regulations.
b. meet third party certifications.
c. they want to purchase them from retailers with similar values.
d. cost less.
e. social image.
Answer:
There are five common approaches to posttests: aided recall, __________, attitude tests,
inquiry tests, and sales tests.
a. exposure tests
b. performance tests
c. unaided recall
d. jury tests
e. comparison tests
Answer:
Family Dollar Stores Photo
Consider the photo above. Family Dollar Stores, like 99 Stores, use what type of pricing
policy?
a. target
b. customary
c. flexible
d. one
e. below-market
Answer:
In classifying social media, the degree of acoustic, visual, and personal contact between
two communication partners is referred to as
a. user generated content.
b. social value.
c. self-disclosure.
d. media richness.
e. emotive content.
Answer:
Airlines have developed frequent-flier programs to encourage passengers to use the
same airline repeatedly. This technique is based on
a. geographic segmentation.
b. behavioral segmentation.
c. psychographic segmentation.
d. demographic segmentation.
e. buying condition segmentation.
Answer:
The idea that an organization should (1) strive to satisfy the needs of consumers (2)
while also trying to achieve the organization’s goals reflects the
a. concept of synergy.
b. marketing concept.
c. principle of customer relationship management.
d. societal marketing concept.
e. consumerism concept.
Answer:
Dr. Pepper KISS Ad
The Dr. Pepper KISS ad shown above depicts a set of human characteristics associated
with a brand name, which defines its __________.
a. symbolic brand
b. brand personality
c. brand mannerism
d. brand personification
e. product personification
Answer:
Companies can employ four general branding strategies, which include: (1)
multiproduct branding; (2) multibranding; (3) private branding; and (4) __________.
a. retailer branding
b. intermediary branding
c. brand licensing
d. mixed branding
e. co-branding
Answer:
The preapproach stage of the personal selling process is especially important in
__________.
a. international sales
b. government sales
c. high technology product sales
d. high-ticket item sales
e. the sale of services
Answer:
When selecting a brand name, it should suggest product benefits; be memorable,
distinctive and positive; fit the company or product image; be simple and emotional;
and __________.
a. be humorous or mysterious
b. have no legal or regulatory restrictions
c. be easy to spell and pronounce
d. contain no hidden meanings
e. suggest an air of mystery
Answer:
Gross domestic product refers to
a. the monetary value of all goods and services produced by a single manufacturer
during one year.
b. the monetary value of all domestic exports of a nation during one year.
c. the monetary value of all goods and services produced in a country during one year.
d. the monetary value of all domestic imports of a nation during one year.
e. the difference between all domestic exports and imports for any nation during the
course of one fiscal year.
Answer:
A global undertaking to further green marketing efforts is the
a. ISO 14000 initiative.
b. Kyoto Protocol.
c. Green World (GW) initiative.
d. ISO 9000 initiative.
e. ISO Trans-Global initiative.
Answer:
When a telemarketer calls to sell a consumer life insurance, the last questions asked is
what category does the person’s household income fall into (less than $50,000; $50,000
to $99,999; and $100,000 and over). When the telemarketer asks about household
income, this indicates the use of which type of consumer segmentation variable?
a. usage
b. behavior
c. demographic
d. buying situation
e. psychographic
Answer:
A selling format that emphasizes probing and listening by the salesperson to identify the
needs and interests of prospective buyers is referred to as a __________ presentation.
a. need-satisfaction
b. formula selling
c. stimulus-response
d. relationship selling
e. marketing concept
Answer:
Culture refers to the
a. moral and ethical beliefs of a family passed down from generation to generation.
b. set of values, ideas, and attitudes that are learned and shared among the members of a
group.
c. pastimes associated with the fine arts, such as ballet, music, and theater.
d. standard or pattern of behaviors that is typical or expected of a group.
e. description of a population according to selected characteristics such as age, gender,
ethnicity, income, and occupation.
Answer:
7Up is a lemon-lime carbonated soft drink that has been very successful in the U.S. Dr.
Pepper/Seven Up, Inc., the makers of 7Up, uses a family branding strategy to market
7Up worldwide. In Shanghai, China, sales have suffered since the brand name means
“death through drinking.” When picking a good band name, which criterion did Dr.
Pepper/Seven Up, Inc. violate when it chose to use a family branding strategy to market
7Up in China?
a. The name should be memorable, distinctive, and positive.
b. The name should be simple.
c. The name should have no governmental restrictions.
d. The name should suggest the product’s benefits.
e. The name should not be difficult to spell or pronounce.
Answer:
McDonald’s Menu Board Photo
As shown in the McDonald’s menu board photo above, McDonald’s is most likely using
which type of pricing strategy?
a. predatory pricing
b. value-pricing
c. loss-leader pricing
d. odd-even pricing
e. barter
Answer:
One of the advantages associated with television as an advertising medium is that it
a. is a low-cost medium.
b. has a short exposure time.
c. can target specific audiences.
d. has an unlimited amount of advertising time available.
e. can be used to convey complex messages.
Answer:
Pizza Hut’s 2009 program to identify a summer intern, or ________, responsible for
monitoring and encouraging dialog on Twitter and other social media networks, is an
example of how the brand is building on existing platforms and making effective use of
the massive social marketing infrastructure.
a. Trusttern
b. Twintern
c. Stutern
d. Brandtern
e. Blogtern
Answer:
About __________ of U.S. companies now include customer satisfaction as a
behavioral measure of salesperson performance.
a. 30%
b. 40%
c. 50%
d. 60%
e. 70%
Answer:
A firm trying to obtain data on the number of households that buy a particular product
would most likely use which type of marketing research?
a. descriptive
b. explanatory
c. exploratory
d. causal
e. concrete
Answer:
If you ever talk to anyone who has flown on Singapore Air, you will no doubt hear
about the great food that is served during the flight, the friendliness of the flight
attendants, and the comfortable seating. From this description, you can surmise that
Singapore Air creates customer value by providing its customers with
a. the best airport experience.
b. the most convenient flight schedules.
c. the best price for the distance traveled.
d. the best in-flight service.
e. the greatest sense of personal safety.
Answer:
Managing the breadth and depth of merchandise available from many manufacturers
requires retail buyers who are
a. efficient and effective managers.
b. familiar with the needs of the target market.
c. experienced shoppers.
d. familiar with retail inventory management.
e. autocratic and intelligent.
Answer: