In the context of the diffusion of innovation, _____ refer to the buyers who are the first
to purchase a product.
A. innovators
B. early adopters
C. laggards
D. late adopters
Answer:
Hari is a results-oriented individual who believes in producing optimal results after
substantial efforts. He ensures that all his efforts are reflected through exemplary results
in his task of gaining prospects. As a results-oriented person, he is more likely to:
A. calculate the number of maintenance-repairs-operations calls he has made.
B. calculate the number of complaints he has handled.
C. calculate the number of checks on reseller stocks.
D. calculate the number of distributors participating in programs.
Answer:
For which of the following individuals is prospecting less important to last long in
business?
A. A stockbroker
B. A real estate agent
C. A market leader's sales representative
D. A partner in an upcoming accounting firm
Answer:
Which of the following is the legal term for a brand?
A. Generic mark
B. Trade dress
C. Trademark
D. Watermark
Answer:
Which of the following companies is best suited for using electronic exchanges to
market products that customers would ordinarily want to examine before purchase?
A. A small company selling dairy products and specialty candies
B. A small entrepreneurial venture like a bakery
C. A large perfume manufacturer with low brand equity
D. A large company selling tablet computers from market leaders
Answer:
Once the marketing objectives have been established during marketing planning, the
next step is the _____.
A. selection of the target market
B. identification of investors' needs
C. identification of the competing firms in the market
D. determination of the marketing mix
Answer:
_____ refer to an organizational group formed from different departments which has the
responsibility to evaluate and select products for purchase.
A. Buying centers
B. Intermediaries
C. Reference groups
D. Producers
Answer:
_____ can be defined as the degree of excellence or superiority that an organization's
product possesses.
A. Quality
B. Width
C. Depth
D. Reach
Answer:
Far-n-Wide, a travel agency, wants to implement market segmentation in order to target
people who travel at least once a week for business. The ticketing data from all of its
outlets is consolidated in the company database and used to identify the consumers who
constitute this frequent-flyer segment. What type of research method is the company
most likely using?
A. Mathematical modeling
B. Observational research
C. Qualitative research
D. Experimental research
Answer:
In new product planning and development, _____ costs refer not only to alternative
uses of funds spent on product failures but also to the time spent in unprofitable product
development.
A. sunk
B. direct
C. acquisition
D. opportunity
Answer:
After analyzing current trends in the market, Stage Cinemas, a multiplex, increased the
number of movie screens to keep up with the increased demand and population growth.
However, due to the superficial nature of its analysis, it failed to focus on the needs,
tastes, and preferences of the public. This indicates that the firm had:
A. a lack of strong competition.
B. no obsolescence.
C. noncreative management.
D. a limited view of marketing.
Answer:
_____ include steep learning curves, worldwide sourcing efficiencies, rising product
development costs, and significant differences in host-country costs.
A. Competitive factors
B. Economic factors
C. Environmental factors
D. Market factors
Answer:
Robert, a marketer uses detailed, educational advertisements to draw organizational
buyers to try his products as a substitute for old purchasing methods. He uses promotion
tactics that include demonstrations at large trade shows to showcase his products. An
organization extensively searches for information on various marketers and it involves
all its functional areas in the decision making process. Considering the marketer's
strategies and the organization's needs, this scenario is more likely to be a _____.
A. new task purchase
B. modified rebuy
C. just in time inventory systems
D. straight rebuy
Answer:
_____ are payments to retailers to get them to stock items on their shelves.
A. Quantity discounts
B. Loyalty discounts
C. Slotting allowances
D. Promotional allowances
Answer:
Which of the following elements of the promotional mix is most likely to encourage
materialism and excessive consumption?
A. Cold calling
B. Advertising
C. Public relations
D. Telemarketing
Answer:
Which of the following is true of catalogs and direct mail?
A. They serve to increase overhead costs.
B. They facilitate in-depth descriptions of specialty merchandise goods.
C. They are considered ineffective channels for targeting unique markets that are
geographically dispersed.
Answer:
_____ are retailers whose primary advantages to consumers are suitable location,
close-in parking, and easy entry and exit.
A. Specialty stores
B. Mass merchandisers
C. Convenience stores
D. Category killers
Answer:
A positioning map is:
A. constructed by surveying customers about various product attributes and developing
a graph indicating the relative position of competitors.
B. used solely with benefit segmentation and includes an assessment of lifestyle choices
based on activities, interests, and opinions.
C. implemented when marketers want to differentiate between the Young Digerati,
Cosmopolitans, and American dreams.
D. an indication of the number of Experiencers and Strivers within a geographic area
based on PRIZM analysis.
Answer:
Which of the following is a basic assumption underlying product classification
schemes?
A. Many products are unique and cannot be categorized under any product class.
B. The same marketing strategy can be used for all product categories.
C. Products with common attributes can be marketed in a similar fashion.
D. Products should be differentiated on the basis of profit margins rather than product
features.
Answer:
In which of the following situations does an organization use modified rebuy?
A. When some aspects of the buying situation are unfamiliar
B. When purchase involves a high priority product that is rarely bought
C. When the organization practices just-in-time inventory management
D. When purchasing policies, decisions, and procedures are constant
Answer:
