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With a median age of 36.3 years, ________ is one of the most rapidly aging countries in
the world.
A. Russia
B. China
C. Brazil
D. India
E. Chile
Answer:
The __________ step in the product development process is critical, requiring
tremendous resources and extensive coordination of all aspects of the marketing mix.
A. pretesting
B. product launch
C. posttesting
D. product development
E. evaluation of results
Answer:
Chris laughed at some of the cultural mistakes companies made in advertising and
promotion in international trade while he was in school. Now he was trying to
determine what had gone wrong with the campaign he had planned in Latin America for
his company's product, and it didn't seem quite as amusing. He narrowed the issues to
sociocultural factors. He was looking at both __________ and __________.
A. product uses; currency rates
B. language; trading blocs and social structure
C. potential tariffs; symbols
D. visible artifacts; underlying values
E. verbal communication; logistics
Answer:
The goal of any marketing communication is to
A. maximize personal selling.
B. increase public relations click-through rates.
C. overwhelm negative publicity with commercial speech.
D. replace cause-related marketing with non-cause-related marketing.
E. get the right message to the right audience through the right media.
Answer:
Lamar owns four dry cleaning stores in the suburbs of Orlando, Florida. He recently
updated his STP analysis, and has just finished adjusting his marketing mix based on
the STP results. His next strategic marketing decision will most likely involve
determining
A. how Disney World crowds will impact his business.
B. which employees to promote or fire.
C. how to allocate resources among his four stores.
D. what new government regulations might create opportunities or threats.
E. when to shift from a customer excellence to an operational excellence strategy.
Answer:
Manufacturers trying to implement a just-in-time delivery system need to start with
A. routing software.
B. shipping schedules.
C. distribution center design.
D. knowledge of customer demand.
E. intensive distribution.
Answer:
Before flying, Jaden researches the types of planes the airline uses, scans the plane for
defects as it taxis up to the terminal, and follows the pilot and crew as they come
through the airport. He has no experience as a pilot or airplane mechanic. Jaden
probably has a misguided sense of his
A. postpurchase dissonance.
B. locus of control.
C. reference group identification.
D. attribute sets.
E. social risk.
Answer:
Traditionally, marketing activities have been divided into product, price, place, and
promotion. Select the term that best describes the four Ps.
A. marketing mix
B. marketing channel
C. marketing plan
D. marketing era
E. marketing implementation
Answer:
During the RFP stage, B2B buyers
A. recognize obstacles that the firm must work around.
B. revise their need recognition analysis.
C. invite suppliers to bid on supplying what is requested.
D. proceed to vendor analysis.
E. negotiate contract terms.
Answer:
Trisha makes purses out of old blue jeans and sells them to customers at local craft
fairs. What type of marketing channel does this represent?
A. indirect
B. vertical
C. horizontal
D. direct
E. simple
Answer:
Brian, an industrial equipment sales rep, purchases a quick snack to eat on the way to
work. He buys lunch while on the road visiting customers, and grabs bread and milk on
the way home when he stops to buy gas. Brian probably does the majority of this
shopping at a
A. convenience store.
B. warehouse club.
C. conventional supermarket.
D. drugstore.
E. category specialist.
Answer:
Marketers advertising an artificially high "regular price" are unethically attempting to
influence consumers' __________ perceptions.
A. fixed price
B. reference price
C. seasonal price
D. leader price
E. cost-based price
Answer:
The chair of the board of the local Humane Society chose the bank where the
organization keeps its money; however, the office manager is the primary person who
makes deposits, writes checks, and balances the account every month. The office
manager is the __________ in the buying center for the bank account.
A. initiator
B. decider
C. gatekeeper
D. user
E. influencer
Answer:
The United States imports more goods from China than it exports to China. This is
known as
A. gross national income (GNI).
B. a trade surplus.
C. gross domestic product (GDP).
D. a trade deficit.
E. an import imbalance.
Answer:
The process through which organizations invite alternative vendors or suppliers to bid
on supplying their required components or specifications is formally referred to as
A. specification review.
B. contract development.
C. a bidding initiative.
D. request for proposals.
E. invitation to review.
Answer:
Kendra is taking a backpacking trip across Europe. She wants to make sure that the
backpack she chooses is the best one for her adventure, so she is spending a
considerable amount of time comparing alternatives to make sure she selects the best
one. For Kendra, this backpack represents what type of product?
A. convenience
B. unsought
C. shopping
D. luxury
E. routine
Answer:
Sarah goes through the newspaper looking for coupons to help reduce her living
expenses. Her roommate Paige doesn't read newspapers, let alone look through them for
coupons. But Paige filled out a form from inside a cereal box entering her in a drawing
for free exercise equipment. What kind of sales promotion reached Paige?
A. loyalty program
B. contest
C. deal
D. premium
E. sweepstakes
Answer:
Microsoft's Windows operating system continues to dominate the market, even though
it has been around for over 20 years. Windows will likely remain in the maturity stage
of the product life cycle
A. indefinitely.
B. until it rules the world.
C. until a superior product comes along to replace it.
D. unless Microsoft repositions Windows as an introductory stage product.
E. as long as the company doesn't change it.
Answer:
The 4E framework for social media guides marketers in using social media effectively
to build and deepen customer relationships. Which of the following is not one of the
4Es in this framework?
A. engagement
B. energy
C. excitement
D. experience
E. education
Answer:
For some products, marketers can combine education level with other data like
occupation and income to obtain
A. a sense of consumers' regional culture.
B. consumers' value sensitivity quotient (VSQ).
C. the educational value equation.
D. complete profiles of individual consumers.
E. useful predictions of purchase behavior.
Answer:
Generally, the larger and more sophisticated the channel member, the less likely that it
will
A. use supply chain intermediaries.
B. rely on marketing research.
C. use omnichannel marketing.
D. use intensive distribution.
E. be concerned about competitive actions.
Answer:
A __________ limits the quantity of imported merchandise, thus minimizing
competition faced by domestic products.
A. tariff
B. duty
C. trading bloc
D. trade agreement
E. quota
Answer:
The more substitutes that exist in a market,
A. the lower the price elasticity for each product.
B. the greater the income elasticity for each product.
C. the easier it will be to utilize a target profit pricing strategy.
D. the more sensitive consumers will be to changes in the price of a particular product.
E. the more likely the market will be characterized as an oligopoly.
Answer:
It is not unusual to see firms offering free product samples in grocery stores to let
customers try the product before buying it. Similarly, in today's world of social media,
one can read a chapter of a book before buying it, or watch YouTube videos on different
ways to use a product. All of these scenarios are aimed at which aspect of the 4E
framework?
A. engage
B. energize
C. excite
D. experience
E. educate
Answer:
Which of the following is not one of the four product life cycle stages?
A. introduction
B. stagnation
C. maturity
D. growth
E. decline
Answer:
3M involves its customers in the process of developing new products. In this way, it can
benefit from current customers' insights and develop new products that will meet these
customers' needs. 3M is pursuing a __________ growth strategy.
A. diversification
B. market development
C. market penetration
D. product development
E. product penetration
Answer:
In a television commercial for Chobani Greek yogurt, the manufacturer Chobani plays
which role in the communication process?
A. sender
B. transmitter
C. encoder
D. channel
E. receiver
Answer:
An everyday low pricing strategy stresses the continuity of retail prices
A. at a level above regular retail prices.
B. at a level between the regular price and the deep-discount sale prices of competitors.
C. based on variable production costs.
D. at a price skimming level.
E. at a level below the deep-discount sales prices of competitors.
Answer:
Value-based pricing methods include approaches to setting prices that focus on the
overall value of the product offering
A. as recognized by competitors.
B. as perceived by the consumer.
C. relative to production costs.
D. in relationship to fixed and variable costs.
E. in order to minimize bundling charges.
Answer:
The difference between a firm's immediate marketing environment and its
macroenvironment is that the macroenvironment
A. is external.
B. is easier to understand.
C. is easier to control.
D. has fewer components.
E. is internal.
Answer:
Violet is converting an empty warehouse into an upscale designer clothing store. What
recommendations regarding promotion and the overall retail environment would you
make to Violet?
Answer:
Why should a marketer try to measure the success of a communications effort?
Answer:
What is a "new-to-the-world" product, and how does this type of product impact
markets and consumer preferences? Use an example to explain this concept.
Answer:
Jared is looking to expand his lawn-mowing business and wants to evaluate the
profitability of a potential new market. The area he is looking at has 400 homes and
Jared estimates that 10 percent of them would be likely to use his service. He charges
$25 per mowing and on average customers mow their lawns 20 times a year. Jared
estimates the variable costs to expand his business will be $5 per mowing and his fixed
costs are $2,000. How much profit would Jared make on this new segment?
Answer:
Why are marketers often singled out among business disciplines as the "root cause" of
consumers' ethical concerns?
Answer:
Describe the process of exchange control, and explain how it affects a country's ability
to conduct global business.
Answer:
Explain the advantages and disadvantages of using the RFP process, both for the buying
organization and the vendor.
Answer:
In what three ways are global segmentation, targeting, and positioning more
complicated than domestic STP?
Answer:
Define qualitative research and list two examples of qualitative data collection
techniques.
Answer:
Burger King has become known for launching edgyand often riskyadvertising and
social media campaigns. How might Burger King use sentiment analysis to gain
insights into consumers' reactions to a new ad campaign?
Answer:
Describe a straight rebuy situation, and explain how it differs from a modified rebuy.
Answer:
Your marketing professor, Dr. Wilson, has been asked to participate in the university's
strategic marketing planning process. During the planning phase of the process, what
questions will Dr. Wilson likely ask? Be specific to the university's strategic marketing
planning process.
Answer:
Select four of the seven primary motivations for mobile apps and provide examples of
apps that correspond to each motivation.
Answer:
Identify and give an example of each of the four B2B markets.
Answer:
Jennifer has just taken over a line of organic teas for her company. She looks at the
company records and sees sales have peaked, profit margins are declining, and there are
many new competitors in that category. Which stage of the product life cycle are her
teas in?
Answer:
Explain the difference between fixed and variable costs and provide examples of each.
Answer:
Many small "main street" retailers find advertising either too expensive or ineffective.
In this situation, these business owners turn to sales promotion to complement or
augment their advertising efforts. Describe three kinds of sales promotion a small, main
street retailer might use, including the advantages and disadvantages of each sales
promotion method.
Answer:
After her first year in college, Veronica wants to decide on a major. What internal and
external sources of information will she use to help her in making a decision?
Answer:
Imagine that you have just been made the marketing manager for your university. Your
first task is to assess your university's immediate environment. What questions will you
likely ask?
Answer:
