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Product development usually costs the least among all the steps of the new product
development process.
Answer:
The three types of off-price retailers are: independents, factory outlets, and corporate
chains.
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Sweepstakes give consumers a chance to win something, such as cash, trips, or goods,
by luck or through extra effort.
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The most important actors in a company's microenvironment are its competitors.
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The low cost of setting up shop on the Internet makes it even more profitable to serve
seemingly small niches.
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Straight product extension into international markets is often successful.
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In the marketing mix, product includes the goods and services the company offers to the
target market, while promotion includes advertising.
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Service retailers in the United States are growing faster than product retailers.
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An important consideration when determining what price to charge in a specific country
is the nature of the wholesaling and retailing system in that country.
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Sales promotions targeted toward final buyers are called consumer promotions.
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Marketing research is the systematic design, collection, analysis, and reporting of data
directly relevant to a specific marketing situation facing an organization.
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When using product bundle pricing, sellers combine several products and offer the
bundle at an increased price for increased profit.
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The retailer's product assortment should be distinguishable and also match target
shoppers' expectations.
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Federal legislation on price-fixing states that sellers must set prices after talking to
customers and competitors.
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A firm that sends e-mail updates to customers about new products is engaging in
personal selling.
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Convenience stores are the most frequently visited type of retail store.
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It's important for a market pioneer to choose a launch strategy that is consistent with
competitive positioning strategies.
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Generation X is the least educated group to date.
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In the global value delivery network, the second link between the sellers and the final
buyers moves products from points of production to the borders of countries within
which they are sold.
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Market offerings are limited to physical products.
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An administered vertical marketing system integrates successive stages of production
and distribution under single ownership.
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Observational research is the most widely used method of primary data collection.
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If demand is elastic rather than inelastic, sellers typically consider increasing their
prices.
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Product line filling occurs when a company lengthens its product line beyond its current
range.
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Product placement is a form of brand integration.
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"At CL Online, we create customer connectivity, anytime, anywhere" is a
product-oriented mission statement.
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Subcultures are groups of people with shared value systems based on common life
experiences and situations.
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The new marketing communications model consists of promotional mixes that are
designed to make traditional mass-media obsolete.
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The distinction between a consumer product and an industrial product is based on the
purpose for which the product is purchased.
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Most international companies strive to adapt global brands to local needs.
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A market is a segment of potential consumers who share a common need or want.
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The product concept holds that consumers will favor products that offer the most in
quality, performance, and innovative features.
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The full positioning of a brand is called the unique selling proposition.
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Firms that develop strategies to change the environment are considered proactive.
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A company that adopts a reactive marketing stance would most likely view the
marketing environment as an uncontrollable element to which it must adapt.
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A company that makes marketing decisions by considering consumers' wants and
long-run interests, the company's requirements, and society's long-run interests is
practicing consumer-oriented marketing.
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Sales promotions constitute the interpersonal arm of the promotional mix.
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During the ________ stage of the product life cycle, product sales may plunge to zero,
or drop to a low level where they continue for many years.
A) decline
B) growth
C) maturity
D) ideation
E) analysis
Answer:
If a product passes both the concept test and the product test, the next step is most likely
to be ________.
A) marketing strategy development
B) product development
C) test marketing
D) business analysis
E) concept development
Answer:
________ involves thinking ahead to create products that are easier to recover, reuse,
recycle, or safely return to nature after usage, thus becoming part of the ecological
cycle.
A) Consumerism
B) Design for environment
C) Beyond greening
D) Pollution control
E) Pollution prevention
Answer:
A tax on an imported product designed to raise revenue or protect domestic firms is
referred to as a(n) ________.
A) exchange
B) excise
C) fine
D) quota
E) tariff
Answer:
Colonial furniture has been in existence since the 1600s and continues to adorn homes
today. According to the product life cycle concept, it would be described as a ________.
A) style
B) fashion
C) fad
D) trend
E) drift
Answer:
________ might appear anywhere on an Internet user's screen when a user is browsing
through an article, and they are often related to the information being viewed.
A) Viral advertisements
B) Social media sites
C) Online display ads
D) Digital catalogs
E) Printed catalogs
Answer:
AirNetwork, a telecommunications company, sponsors a rock concert by a famous band
in order to further its brand visibility. This is an example of a(n) ________.
A) event marketing program
B) premium
C) point-of-purchase promotion
D) trade promotion
E) price pack
Answer:
Which of the following is most efficient for short hauls of high-value merchandise and
is highly flexible in its routing and time schedules?
A) water carriers
B) pipeline
C) trucks
D) air carriers
E) railroads
Answer:
________ refers to the process of evaluating each market segment's attractiveness and
selecting one or more segments to enter.
A) Market divesting
B) Market diversification
C) Market targeting
D) Market mixing
E) Market positioning
Answer:
Natural & Safe sells a concentrated, biodegradable bathroom cleaner in a recycled
container. This is best described as a component of the company's internal ________
program.
A) green marketing
B) consumerism
C) sustainability
D) environmental
E) sociological
Answer:
________ are offers of a trial amount of a product.
A) Cash refunds
B) Price packs
C) Rebates
D) Coupons
E) Samples
Answer:
Which of the following is an example of an industrial product grouped under capital
items?
A) factory
B) cement
C) crude petroleum
D) coal
E) paint
Answer:
Maytag's front-loading Neptune washer comes in attractive designs and also guarantees
quick cleaning and high energy efficiency. The Neptune washer is most likely an
example of a ________ product.
A) deficient
B) pleasing
C) salutary
D) desirable
E) disposable
Answer:
Which of the following is an example of a retailer using mobile marketing to enrich the
customer's shopping experience at the same time that they stimulate buying?
A) Lacey's department store uses a virtual tour app of Paris to promote a week-long
celebration revolving around French-themed clothing, jewelry, and fragrances in their
stores.
B) Sharie's boutique issues mobile coupons to existing customers.
C) Java Lava sends a special e-mail to customers that displays fireworks when it's
opened to celebrate the store's 1-year anniversary.
D) Books Abound uses an app to introduce customers to newly released books that are
tailored to their reading preferences.
E) The Music Store launches an app that plays 10 seconds of a new song every time
users access it.
Answer:
Brooke's Boutique plans to launch a new clothing line. For this purpose, the firm first
conducts a survey to understand its target audience and identify the demographics of
potential buyers. It then conducts experimental research to test whether customers
associate discounted prices with lower product quality. Which types of research has the
boutique employed in this case?
A) exploratory followed by causal
B) exploratory followed by descriptive
C) descriptive followed by exploratory
D) descriptive followed by causal
E) causal followed by descriptive
Answer:
Howard Genks works as a sales representative for Med-Tex, a firm that manufactures
hospital supplies. Recently, a prospective buyer walked into the Med-Tex store seeking
beds for the children's ward in his private clinic. Howard quickly showed the client the
range of beds available that were designed specifically for children. In which of the
following steps of the selling process was Howard?
A) prospecting
B) qualifying
C) follow-up
D) handling objections
E) presentation and demonstration
Answer:
Which of the following is most likely an advantage of social media marketing?
A) Social media are targeted and personal.
B) Social media campaign results are easily measured.
C) Social networks are largely marketer controlled.
D) Social media allow marketers to engage in multichannel sales.
E) Social media campaigns are simply implemented and rarely backfire.
Answer:
When firms use symbols, colors, or characters to convey their personalities, they are
using ________ differentiation.
A) image
B) people
C) usage-rate
D) user-status
E) channel
Answer:
Window Concepts has introduced a new line of windows that offer the same benefits as
solar panels in reducing heating and cooling costs in homes. The state-of-the-art
windows will also contribute to the slowing of global warming while providing energy
reliability. The company sends a team of representatives to the National Doors and
Windows Trade Show to promote the new line of windows. Which promotion mix tool
has Window Concepts used in this scenario?
A) crowdsourcing
B) public relations
C) advertising
D) personal selling
E) crowdcasting
Answer:
Fads are characterized by their ________.
A) enduring nature that spans several generations
B) low rates of adoption by consumers
C) unusually high sales and rapid decline
D) basic and distinctive modes of expression that seldom become unpopular
E) non-attainment of the last two stages of the product life cycle
Answer:
A major step in regulating unfair or deceptive acts or practices was the enactment of the
________ in 1938.
A) Robinson-Patman Act
B) Wheeler-Lea Act
C) Consumer Product Safety Act
D) Taft-Hartley Act
E) Sherman Act
Answer:
When adapting advertising messages, media may also need to be adapted
internationally because media availability and regulations vary from country to country.
This illustrates ________.
A) communication extension
B) product invention
C) communication adaptation
D) straight product extension
E) product adaptation
Answer:
A brand's ________is the set of benefits that it promises to deliver to consumers to
satisfy their needs.
A) dominant effect
B) fringe benefit
C) perquisite
D) value proposition
E) dividend yield
Answer:
Veggie Delight, a leading manufacturer of frozen vegetarian burgers, has recently
entered the Middle East markets. Based on its research, consumers in the Middle East
prefer spicier burgers than in the United States and other countries. So the company
alters the ingredients in its burgers to meet the local preferences. In this scenario,
Veggie Delight is using a(n) ________ strategy to market its product.
A) communication adaptation
B) undifferentiated marketing
C) straight product extension
D) product invention
E) product adaptation
Answer:
The team-based new product development approach saves times and increases
effectiveness because departments work closely together in ________.
A) divisional teams
B) problem-solving teams
C) self-managed groups
D) cross-functional teams
E) independent groups
Answer:
Vac "N" Sew, a consumer electronics outlet, offers a price reduction of $100 when
customers bring in a used vacuum cleaner and exchange it for a new vacuum cleaner or
sewing machine. This is an example of a ________.
A) functional discount
B) cash discount
C) seasonal discount
D) trade-in allowance
E) by-product allowance
Answer:
The American Tie Company, a necktie retailer, offers a deep assortment of men's
neckties. The American Tie Company is best described as a(n) ________.
A) department store
B) supermarket
C) specialty store
D) discount store
E) off-price retailer
Answer:
Trendy Teens manufactures fashionable clothing and accessories for the tween and teen
female markets. New merchandise with a very different look is rolled out each season
and heavily promoted as the "must-have" style in a variety of media. For which of the
following could Trendy Teens be easily criticized in this scenario?
A) deceptive promotion
B) redlining
C) high-pressure selling
D) planned obsolescence
E) perceived obsolescence
Answer:
Which of the following is most likely a difference between advertising and sales
promotion?
A) Advertising is a sales-directed form of communication, while sales promotions are
endorsed as company news.
B) Advertising can be used to build up a long-term image for a product while sales
promotion effects can be short lived.
C) Advertising can be used to dramatize product offers, but sales promotion cannot be
used for this purpose.
D) Advertising can trigger quick sales, while sales promotions cannot.
E) Advertising is not as effective in building long-term brand preferences as sales
promotions.
Answer:
________ is a method of entering a foreign market by associating with foreign
companies to produce or market products or services.
A) Joint venturing
B) Indirect exporting
C) Direct investment
D) Importing
E) Direct exporting
Answer:
When a company chooses to divest a particular strategic business unit, it ________.
A) increases the advertising budget for that strategic business unit
B) invests more in the strategic business unit to build its market share
C) sells off or phases out the strategic business unit
D) invests just enough in the strategic business unit to keep its market share at the
current level
E) gradually increases investment in the strategic business unit over time to maximize
profits
Answer:
Which of the following best describes market segmentation?
A) differentiating a market offering to create superior customer value
B) identifying consumer needs and creating a product to meet those needs
C) arranging for a product to occupy a clear, distinctive, and desirable place relative to
competing products in the minds of target consumers
D) evaluating each market segment's attractiveness and selecting one or more segments
to enter
E) dividing a market into distinct groups of buyers who have different needs,
characteristics, or behaviors
Answer:
Which of the following is true of question formats in questionnaires?
A) Closed-ended questions allow respondents to answer in their own words.
B) A scale question is an example of an open-ended question.
C) Open-ended questions allow respondents to choose among the best answer options
available.
D) Closed-ended questions are difficult to evaluate when compared to open-end
questions.
E) Open-ended questions are useful in exploratory research to find out what people
think.
Answer:
A toothbrush that costs ten cents to manufacture may cost a consumer $3.00 to buy.
According to critics, this is an example of ________.
A) deceptive advertising
B) redlining
C) excessive markup
D) high-pressure selling
E) shoddy manufacturing
Answer:
What are the advantages of an innovation management system for developing new
products?
Answer:
Explain the concepts of word-of-mouth influence, opinion leaders, and buzz marketing.
Answer:
Discuss public policy issues, government regulations, and laws that affect new product
development.
Answer:
With reference to the different types of markets, compare pure competition with
monopolistic competition.
Answer:
Explain the use of sales promotions as a promotion mix tool.
Answer:
Briefly explain the three basic market entry strategies of entering a foreign market.
Answer:
Describe and compare the four types of customers classified by their potential
profitability to an organization. Identify how an organization should manage each type
of customer.
Answer:
Compare and contrast local and individual marketing.
Answer:
List the consumer rights called for by consumer advocates.
Answer:
Explain why business demand is considered a derived demand. Provide an example.
Answer:
Briefly discuss the five principles of sustainable marketing.
Answer:
Explain product invention with the help of suitable examples.
Answer:
How do the different types of publics influence a company's marketing environment?
Answer:
Explain with examples how the political-legal environment of a country affects a global
firm.
Answer:
Differentiate between industrializing economies and industrial economies. Give a few
examples of each.
Answer:
Describe the harmful impact that a company's marketing practices could have on other
businesses.
Answer:
Discuss with an example how marketers have adapted to people's changing views
toward nature.
Answer:
With reference to pricing in different types of markets, compare oligopolistic
competition with a pure monopoly.
Answer:
Why do companies generally divide a market into segments of customers?
Answer:
Describe the various legislative actions that have been taken to regulate the manner in
which online, social media, and mobile operators obtain and use consumer information.
Answer:
