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The marketing strategy of developing new products and selling them in new markets is
referred to as
A. product penetration
B. product development
C. market development
D. market penetration
E. diversification
Answer:
Showrooming refers to
A. areas in retail stores where point-of-purchase displays are used to show goods for
sale.
B. an arrangement whereby a firm reaches different buyers by employing two or more
different retail layouts and atmospherics for the same basic product.
C. competition among retail firms in different types of businesses but which sell the
same product.
D. retailers that utilize and integrate a combination of traditional store formats and
nonstore formats such as catalogs, television home shopping, and online retailing.
E. when shoppers visit a retail store to inspect merchandise, but then purchase that
merchandise online, either from the store or one of its competitors.
Answer:
Manufacturers, wholesalers, retailers, and government agencies that buy goods and
services for their own use or for resale are referred to as
A. multinational buyers.
B. resellers.
C. organizational buyers.
D. ultimate consumers.
E. institutional buyers.
Answer:
Figure 12-3
Figure 12-3 above depicts four common marketing channels for consumer products and
services that differ by the kind and number of intermediaries. Channel A would be an
appropriate marketing channel for which of the following?
A. Toyota automobiles
B. Shane Company jewelry
C. John Deere construction machinery
D. Hershey's candy
E. State Farm insurance services
Answer:
Odd-even pricing is considered to be a __________ approach to pricing.
A. cost-oriented
B. profit-oriented
C. demand-oriented
D. competition-oriented
E. service-oriented
Answer:
For years, a local had customers lining up around the building for breakfast. When the
city announced that it was building an off ramp from the highway that would
conceivably double his customer traffic, the proprietor was delighted. Having had so
much success in previous years, he felt certain his savings could hold him over through
the three-month construction. Unfortunately, construction delays continued for an
additional six months and the work still continued. The owner's best pricing objective at
this point would most likely be __________.
A. profit
B. market share
C. unit volume
D. survival
E. social responsibility
Answer:
Figure 4-4
In Figure 4-4 above, A represents the __________ influences that can affect the
consumer purchase decision process.
A. economic
B. situational
C. psychological
D. sociocultural
E. marketing mix
Answer:
The process of turning corn into ethanol shows how BioFuel Energy, a Minnesota
ethanol producer, can create __________ utility.
A. time
B. place
C. possession
D. market
E. form
Answer:
Supply chain and logistics managers play a large part in the manufacture of
automobiles. It is estimated that logistics costs account for __________ percent of the
retail price you pay for a new car.
A. 1 to 2
B. 4 to 5
C. 8 to 10
D. 12 to 15
E. 25 to 30
Answer:
In the VALS framework, the segment with the most abundant resources, known as
__________, includes successful, sophisticated, take-charge people with high
self-esteem and resources of all kinds.
A. Experiencers
B. Innovators
C. Makers
D. Achievers
E. Strivers
Answer:
Why did Dell, Inc., embark on a global growth initiative?
A. U.S. sales had decreased.
B. Dell was recently purchased by Lenovo, a major Chinese competitor.
C. There was too much competition in Dell's direct-to-consumer marketing channel.
D. There were fewer restrictions in computer technology outside the United States.
E. Emerging economies offered significant growth potential.
Answer:
The second step in segmenting and targeting markets that link customer needs to
marketing actions is to
A. group potential buyers into segments.
B. develop a market-product grid and estimate size of the overall market.
C. select target markets.
D. take marketing actions to reach target markets.
E. group products to be sold into categories.
Answer:
The lack of profit in the introductory stage of the product life cycle is very often the
result of __________.
A. pricing the product too low in an attempt to quickly gain market share
B. targeting the wrong target market segment
C. a lack of wholesaler support
D. the large investment costs in product development
E. ineffective execution of the marketing program
Answer:
The belief that products originating from one country would be of better or worse
quality than the products from another country illustrates the __________ benefits that
packaging information can provide.
A. functional
B. financial
C. physical
D. perceptual
E. communication
Answer:
Four of the 40 largest businesses in the United States are retailers - Walmart, Costco,
Home Depot, and __________.
A. Sears
B. Target
C. Best Buy
D. JCPenney
E. Bloomingdale
Answer:
Because early-stage financing is almost always a problem for those starting a new
business, __________ is a way to gather an online community of supporters to
financially rally around a specific project that is unlikely to get resources from
traditional sources.
A. crowdfunding
B. open sourcing
C. venture capital
D. online banking
E. crowdsourcing
Answer:
Which of the following statements about salesforce training is most accurate?
A. The training of sales managers is both expensive and extensive, unlike the training of
salespeople, which is relatively inexpensive.
B. A major flaw in the sales industry is a lack of employer-sponsored training.
C. Sales ability is instinctive; it cannot be taught.
D. Whereas recruitment and selection of salespeople is a onetime event, salesforce
training is an ongoing process that affects both new and seasoned salespeople.
E. A limitation of sales training is that it is too narrowly focused on "making the sale"
rather than learning new business skills.
Answer:
Physically moving a product to customers would be an example of a __________
function performed by channel intermediaries.
A. transactional
B. logistical
C. facilitating
D. selling
E. risk taking
Answer:
A huge shopping strip with multiple anchor (or national) stores and a supermarket is
referred to as a __________.
A. central business district
B. regional shopping center
C. community shopping center
D. strip mall
E. power center
Answer:
Figure 12-3
Figure 12-3 above depicts four common marketing channels for consumer products and
services that differ by the kind and number of intermediaries. Channel C would be an
appropriate marketing channel for __________.
A. Hershey's candy
B. Toyota automobiles
C. State Farm car insurance
D. Aspen dental services
E. Ticketmaster tickets to a rock concert
Answer:
Wrigley recently introduced a new flavor of Orbit brand sugar free chewing gum - mint
mojito. The introductory price was low so that it quickly created loyal customers for the
flavor. In this example, Wrigley used
A. skimming pricing.
B. penetration pricing.
C. price lining.
D. odd-even pricing.
E. loss-leader pricing.
Answer:
GlaxoSmithKline plc. of Great Britain makes Breathe-Right nasal strips. It sells the
same product in many countries because customers all over the world will use them in
the same way. This is an example of which type of global marketing product and
promotion strategy?
A. product customization
B. product extension
C. product adaptation
D. product invention
E. product integration
Answer:
Which type of wholesaler traditionally sells hosiery, toys, and health and beauty items?
A. cash and carry wholesalers
B. truck jobbers
C. general merchandise wholesalers
D. rack jobbers
E. drop shippers
Answer:
A discount on each case ordered during a specific period of time is referred to as a
A. functional allowance.
B. merchandise allowance.
C. case allowance.
D. finance allowance.
E. manufacturer's inducement.
Answer:
Offering the right to a trademark, patent, trade secret, or similarly valued items of
intellectual property in return for a royalty or fee is referred to as
A. direct exporting.
B. indirect exporting.
C. licensing.
D. contract manufacturing.
E. outside branding.
Answer:
A firm's __________ are timeless, capturing its heart and soul, and serve to inspire and
motivate its stakeholders.
A. core values
B. strategic goals
C. offerings
D. corporate culture
E. corporate ethos
Answer:
Figure 6-5
Figure 6-5 above outlines the distribution channels through which a product
manufactured in one country must travel to reach its destination in another country. Box
A represents the
A. seller.
B. seller's international marketing headquarters.
C. channels between nations.
D. channels within the foreign nation.
E. final customer.
Answer:
Which of the following quotes from a new product adopter would signal the need for a
firm to counteract a value barrier?
A. "But it might make me fat."
B. "What if I can't make the monthly payments?"
C. "I don't want to try this if it means I have to swallow it with milk."
D. "Big deal, the only difference is the shape of the package."
E. "Sure I'll try it; why not!"
Answer:
When Cadillac uses advertising to promote specific features of its Escalade hybrid, it is
using which type of product advertisement?
A. reminder
B. competitive
C. pioneering
D. institutional
E. differentiation
Answer:
The desire for a product class rather than for a specific brand is called __________
demand.
A. selective
B. primary
C. derived
D. generic
E. secondary
Answer:
Mars, Inc. sells Snickers, Milky Way, Twix, Skittles, Dove, Starburst, M&Ms, and
Three Musketeer candy. This variety of brand names is typical of a __________
strategy.
A. co-branding
B. multibranding
C. multiproduct
D. mixed brand
E. private branding
Answer:
While many commercials that use humorous appeals gain the attention of the audience,
they
A. may lose their effectiveness in varying degrees across cultures if used in a global
campaign.
B. contain no information to help consumers.
C. do not appeal to either men or women.
D. are best used over the long term to generate feelings of nostalgia.
E. don't appeal to the Generation Y cohort.
Answer:
Imagine that Eveready has developed solar rechargeable batteries that cost only slightly
more to produce than the rechargeable batteries currently available. These solar
batteries can be recharged by sunlight up to 5 times, after which they must be discarded.
Unfortunately, the production process cannot be patented, so competitors could enter
the market within a year. Which of the following would be the LEAST sound marketing
program decision?
A. Select a skimming pricing strategy to position the product as premium.
B. Seek widespread distribution to gain a foothold in what might be a potentially huge
market.
C. Limit production capacity until you are certain consumers will actually want the
product.
D. Avoid a connection to the Eveready brand until the product has proven itself.
E. Use multiple brand names to discourage other competitors from entering the market.
Answer:
All of the following are dimensions of emotional intelligence EXCEPT:
A. the ability to manage one's emotions and impulses.
B. social skills.
C. the cognitive and behavioral skills that result from repeated experience and
reasoning.
D. self-motivation skills.
E. empathy.
Answer:
During the first stage of the new-product process, two important activities take place.
They are
A. SWOT analysis and environmental scanning.
B. open innovation and business analysis.
C. concept testing and product forecasting.
D. R&D and operations set-up.
E. environmental scanning and open innovation.
Answer:
