Figure 1.A
In Figure 1.A above, “X” represents
a. fixed cost
b. marginal cost
c. variable cost
d. marginal revenue
e. MR = MC
Answer:
Firms selected from __________ are sent a quotation request from the purchasing agent
describing the desired quantity, delivery date(s), and specifications of the components
or assemblies.
a. the Yellow Pages
b. an industry directory, such as Hoover’s
c. a bidder’s list
d. a NAICS databank
e. a vendor-rating sheet
Answer:
A popular social network used by college students to find and share the best content on
the Web is
a. Tumblr.
b. Flickr.
c. Vimeo.
d. Hi5.
e. StumbleUpon.
Answer:
The sales manager told the salesperson, “Your goal is to increase sales volume for the
second quarter 5 percent over the sales volume of the first quarter.” The sales manager
voiced a(n) __________ sales objective.
a. output-related
b. input-related
c. behavior-related
d. cold-call related
e. market-related
Answer:
The marketing manager’s controllable factorsproduct, price, promotion, and placethat
can be used to solve a marketing problem are referred to as the __________.
a. marketing concept
b. marketing mix
c. marketing program
d. environmental forces
e. marketing toolbox
Answer:
The practice of exchanging products and services for other products and services rather
than for money is referred to as __________.
a. barter
b. reciprocal pricing
c. virtual pricing
d. balance of payments
e. value-pricing
Answer:
Aspects of __________ management policies might include which individuals in a
buying organization should be contacted, the amount of sales and service effort that
different customers should receive, and the kinds of information salespeople should
collect before or during a sales call.
a. sales response
b. account
c. territorial
d. customer
e. prospect
Answer:
Most stores today are near several others in one of five settings: the central business
district, the community shopping center, the strip mall, the power center, or the
__________.
a. exurb value center
b. urban megacenter
c. suburban downtown
d. regional shopping center
e. rural micromall
Answer:
In the VALS framework, consumers motivated by self-expression desire social or
physical activity, variety, and risk. One segment of the two self-expression-motivated
groups, known as __________, express themselves and experience the world by
working on itraising children or fixing a car.
a. Strivers
b. Experiencers
c. Believers
d. Makers
e. Survivors
Answer:
The importance of time, dependability, communication, and convenience are all
important concepts of __________.
a. consumer service
b. supplier service
c. wholesaler service
d. retailer service
e. stakeholder service
Answer:
Periods of advertising scheduled between periods of no advertising to reflect seasonal
demand, represent the __________ schedule of advertising.
a. steady
b. flighting
c. dripping
d. pulsing
e. burst
Answer:
All of the following are examples of marketing input data EXCEPT:
a. advertising budgets.
b. call reports.
c. billing records.
d. sales budgets.
e. advertising expenses.
Answer:
Off-price stores that attract customers who like a “corner store” environment rather than
a large supercenter experience are referred to as __________.
a. extreme value retailers
b. hypermarkets
c. warehouse clubs
d. outlet stores
e. everyday value retailers
Answer:
Broadly speaking, there are three types of personal selling: _________, order getting,
and customer sales support.
a. consumer getting
b. order processing
c. online telemarketing
d. order taking
e. suggestive selling
Answer:
Red Carpet Baby! a children’s accessory and toy store, uses U.S. Census Bureau
information to determine the number of families with children under age 5 in its market
area. Data obtained from this source are called __________.
a. proprietary data
b. primary data
c. secondary data
d. observational data
e. experimental data
Answer:
Four trends in the past decade have significantly influenced the landscape of global
marketing. One of them is:
a. an increase in economic protectionism and a decline in free trade.
b. a more aggressive attitude towards initiating international tariffs and quota systems.
c. a decrease in most countries’ GDPs and a renewal of nationalism.
d. the formal economic integration and free trade among nations.
e. an increase in most countries’ GDPs coupled with an increased degree of consumer
ethnocentrism.
Answer:
The wheel of retailing refers to
a. the life cycle of most consumer products sold at retailers.
b. the diffusion of types of retailers for a new product.
c. the progression of retail locations an outlet goes through
d. the description of how new retail outlets enter the market.
e. the description of retail management philosophies.
Answer:
At the functional level, the organization’s strategic direction becomes
a. much more manageable since its offerings have been finalized.
b. the most specific and most focused in terms of implementing the company’s goals.
c. broader since for less complex firms, the corporate and functional levels may merge.
d. more general to avoid the “not invented here syndrome” that could result in missed
opportunities.
e. the sole responsibility of the CEO.
Answer:
Apple, Inc. custom orders the manufacture of microprocessors for its iMac, iPhone, and
iPad. For example, Intel makes chips for the iMac, and Samsung produces
Apple-designed chips for the iPhone and iPad. These two suppliers in turn rely on
components from their own subcontracted suppliers. The suppliers involved in making
and delivering microprocessors have adopted mutually beneficial objectives and
strategies that ultimately give Apple’s customers value for their money. Apple’s method
of doing business this way is an example of a(n)
a. symbiotic partnership.
b. make-buy decision.
c. reciprocal agreement.
d. supply partnership.
e. exclusive dealing.
Answer:
Culture includes values, which vary with age. Consumers between the ages of 20 to 29
years old rank __________ as the third most important cultural value.
a. honesty
b. protecting the family
c. friendship
d. self-esteem
e. health and fitness
Answer:
Staples is a specialty discount retailer that focuses on one type of productoffice
supplies. Staples is referred to as a
a. hypermarket
b. national dominator
c. category killer
d. regional dominator
e. general merchandise store
Answer:
One of the primary differences between tangible goods and services involves a
consumer’s ability to make prepurchase evaluations. For example, consumers can easily
evaluate shoes, jewelry, and skis before making a purchase. On the other hand,
consumers can evaluate services such as restaurants, ski instructors, and tanning salons
only during or after their purchase. Indeed, tangible products have __________
properties, whereas services have __________ properties.
a. consistent; inconsistent
b. search; experience
c. inconsistent; consistent
d. experience; search
e. gap; encounter
Answer:
In the hierarchy of needs water, food, and oxygen would be considered __________
needs.
a. physiological
b. safety
c. social
d. personal
e. psychological
Answer:
An IKEA mail order catalog is an example of __________ retailing.
a. intrusive
b. intertype
c. scrambled
d. nonstore
e. hypermarket
Answer:
Many companies have broadened their buying objectives to include an emphasis on
a. purchasing from as many vendors as possible to avoid product shortfalls.
b. purchasing locally-made products even if they cost more.
c. diversifying their product lines to include seemingly noncompatible items.
d. purchasing products from Fair Trade-certified firms around the world who practice
microfinancing.
e. proactively purchasing from minority-owned suppliers and vendors.
Answer:
Figure 1.B: Average Annual Sales of Tony’s Pizza per Household
Figure 1.B above shows that
a. annual sales of Tony’s Pizza increased over the period 2008 to 2011.
b. average annual unit sales of Tony’s Pizza per household decreased over the period
2008 to 2011.
c. average dollar sales of Tony’s Pizza have dropped from $3.4 million to $3.1 million.
d. sales of Tony’s Pizza to households with children declined over the period 2008 to
2011.
e. smaller households bought less Tony’s Pizza over the period 2008 to 2011.
Answer:
The North American Industry Classification System (NAICS) system designates
industries with a numerical code in a defined structure. A six-digit coding system is
used. The fourth digit designates a(n)
a. industry subsector.
b. industry group.
c. specific industry.
d. individual country-level national industry.
e. sector of the economy.
Answer:
Recently, the Japanese government, under pressure from its domestic farm lobby,
slapped government taxes on mushrooms, leeks, and the reeds used in tatami mats that
were being imported from China. Japan levied
a. GATT taxes.
b. quotas.
c. tariffs.
d. excise taxes.
e. subsidies.
Answer:
Figure 1.
According to Figure 1. above, column “B” represents a
a. continuous innovation.
b. discontinuous innovation.
c. dynamically continuous innovation.
d. disruptive innovation.
e. evolutionary innovation.
Answer:
Which of the following statements about world trade flows is most accurate?
a. The EU (European Union) is the world leader in terms of GDP (gross domestic
product).
b. The relative position of the United States as a supplier to the world has increased
because of an absolute growth in exports.
c. The United States is running a continuing trade surplus because it has the world’s
largest gross domestic product.
d. The United States’ relative role as an exporter remains strong in the area of
aerospace.
e. During the past 30 years, the relative position of the United States in terms of GDP
has remained stable despite the fact that actual value of products and services has
increased.
Answer:
People who have the authority and responsibility to advise people in line positions but
cannot issue direct orders to them hold __________.
a. staff positions
b. line positions
c. positions on the board of directors
d. stakeholder positions
e. program champion positions
Answer: