During the ___________ stage of the product life cycle, firms either position
themselves for a niche market of loyal consumers or they exit the market.
A. introduction
B. leveling
C. maturity
D. growth
E. decline
Answer:
How does a retail distribution center supporting a store channel most obviously differ
from one supporting an Internet channel?
A. in use of SKU identification
B. in quantity of items shipped
C. in speed of order fulfillment
D. in quality of tracking mechanisms
E. in use of CRM technology
Answer:
In most cases, countries use tariffs to reduce foreign competition, but tariffs are also
used
A. to shorten supply chains.
B. as a response to perceived unfair trade practices.
C. to offer domestic discounts.
D. to stimulate consumer demand.
E. as a way to equalize quotas.
Answer:
Internet sites, physical stores, and kiosks are most closely associated with which
element of the marketing mix?
A. place
B. price
C. product
D. promotion
E. proximity
Answer:
When discussing the marketing planning process, STP stands for
A. strategies, tactics, and plans.
B. strategize, target, and promote.
C. segmentation, targeting, and positioning.
D. situation analysis, trend spotting, and planning.
E. sustaining, trending, and positioning.
Answer:
Retailers in expensive resort areas often find it difficult to hire quality salespeople. In a
situation like this, retailers should consider augmenting or even replacing the sales and
customer service functions with
A. expanded hours of operation.
B. continuous use of promotions.
C. in-store kiosks or self-checkout lanes.
D. special attention to product placement in their stores.
E. variable pricing strategies.
Answer:
Firms typically repurchase office supplies (paper, ink cartridges, pens, etc.) through
straight rebuys on their supplier’s website. Should an office supplies sales rep stay in
close touch with his or her current customers? Why or why not?
A. No; this is a waste of time since straight rebuys are straightforward and easy to
handle.
B. No; the sales rep should be looking for new customers instead.
C. Yes; straight rebuys require a lot of the sales rep’s assistance.
D. Yes; the sales rep might learn about a new opportunity in the need recognition stage.
E. Yes; history has shown that online reordering can’t be trusted.
Answer:
For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements
with other countries creates
A. weaknesses.
B. opportunities.
C. strengths.
D. threats.
E. limitations.
Answer:
If a firm wants to develop a sustainable competitive advantage, it should
A. begin an aggressive campaign to buy up competitors.
B. copy the innovative features of other firms that are attractive to customers.
C. examine its operations and customer relations to identify significant things
competitors cannot easily copy.
D. increase its marketing budget so that it outspends its competitors.
E. arrange to meet with competitors to discuss how to avoid direct competition.
Answer:
There is a saying “Never go to the grocery store hungry.” This saying suggests that a
consumer’s __________ state may adversely affect purchasing decisions.
A. shopping
B. social
C. theoretical
D. external
E. temporal
Answer:
During the __________ era, manufacturers and retailers began to focus on what
consumers wanted and needed before they designed, made, or attempted to sell their
products.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
Answer:
When pursuing a market development strategy, expanding into international markets is
generally
A. riskier than expansion in domestic markets.
B. impossible due to negative attitudes about American products.
C. executed with the help of international trade subsidies.
D. simplified by creating new products for export markets.
E. the only option offering substantial opportunities for growth.
Answer:
Retailers address the conflict between consumers wanting or needing only one item and
manufacturers wanting to produce and ship in quantity by providing
A. reciprocity.
B. simplicity.
C. discounting.
D. storage.
E. extreme value labeling.
Answer:
Which of the following is a true statement about distribution centers?
A. They enable retailers to carry less merchandise in individual stores.
B. Distribution center space is typically more expensive than retail space.
C. They are appropriate for all retailers, from the largest to the smallest.
D. They are the quickest way to get all products to retailers.
E. They complicate the process of predicting accurate sales forecasts.
Answer:
Marketers considering operations and trade with a specific country must consider
whether or not the country belongs to a trading bloc. A trading bloc is a group of
countries
A. that have established a formal agreement to manage trade activities.
B. using the same currency.
C. with similar cultural shopping patterns.
D. located next to each other.
E. with similar political views.
Answer:
The Harvest County School Board is concerned about deteriorating school facilities,
combined with a shrinking budget. The board began by studying the issue, and then
identified parents, children, teachers, staff, and taxpayers as groups who have a vested
interest in the problem. The school board has listened to each group’s concerns. In the
ethical decision-making framework, its next action should be to
A. identify issues of concern to lawmakers.
B. assess impact of its actions beyond the classroom.
C. engage in brainstorming alternatives.
D. choose a course of action.
E. evaluate the legal ramifications.
Answer:
A key to successful marketing is determining how to meet the correct balance of
__________ needs that best appeals to the firm’s target markets.
A. functional and social
B. postpurchase and prepurchase
C. safety and situational
D. psychological and physiological
E. functional and psychological
Answer:
A differentiated targeting strategy can allow a firm to obtain a bigger share of the
overall market; this strategy
A. is the cheapest option.
B. requires the use of advanced advertising techniques.
C. rarely works.
D. is likely more costly than an undifferentiated strategy.
E. is ineffective without multiple brand names.
Answer:
When considering global marketing opportunities in Bangladesh, Tom asked the
question, “How will we get it there?” Tom is concerned about __________ capabilities
in Bangladesh.
A. production capacity
B. pricing
C. advertising
D. infrastructure
E. cultural
Answer:
Using __________, researchers ask questions, listen to and record responses, and ask
additional questions based on initial responses.
A. questionnaires
B. experiments
C. in-depth interviews
D. primary data mining
E. observation
Answer:
The BRIC countries are Bolivia, Russia, Italy, and China.
Answer:
The term _______ refers to the enormous amount of information that firms now have
access to but cannot handle using conventional data management and data mining
software.
A. big data
B. churn
C. data mining
D. data dump
E. information overload
Answer:
The number of participants who discontinue their use of a service divided by the
average number of total participants is called
A. churn.
B. customer retention.
C. customer lifetime value.
D. cancellation cost.
E. customer loyalty.
Answer:
________ is the cost to the customers or the fee the bank charges those customers for
borrowing money.
A. Interest
B. A service charge
C. A tax
D. A tariff
E. A user fee
Answer:
Global marketers are under constant pressure to shorten distribution channels in order
to
A. improve promotion efficiency.
B. reduce trade deficits.
C. afford tariffs.
D. meet trade agreement guidelines.
E. reduce costs.
Answer:
The center of all marketing efforts is
A. profits.
B. the consumer.
C. corporate social responsibility.
D. top management.
E. the firm.
Answer:
The three types of vertical marketing systems are administered, contractual, and
A. cooperative.
B. corporate.
C. independent.
D. coercive.
E. conventional.
Answer:
An organization’s culture reflects the _______ that guide(s) its employees’ behavior.
A. B2C dynamics
B. rules and regulations
C. buying center philosophy
D. set of values, traditions, and customs
E. derived set of influences
Answer:
The local skydiving team is buying new parachutes. The team’s coach has invited all
team members to make recommendations, after which he will select the successful
vendor. The skydiving team’s buying center has a(n) __________ organizational
culture.
A. democratic
B. consultative
C. consensus
D. autocratic
E. bureaucratic
Answer:
The consumer decision process model represents
A. the concept of habitual decision making.
B. the retrieval of an evoked set based on physiological needs.
C. the steps that consumers go through before, during, and after making purchases.
D. the shift from an internal to an external locus of control.
E. the types of decisions all consumers must make.
Answer:
After identifying various market segments that her company could pursue, Lisa
evaluated each segment’s attractiveness based on size, income, and accessibility. Lisa
was involved in
A. target marketing.
B. situation analysis.
C. diversification.
D. positioning.
E. market penetration estimation.
Answer:
What is the difference between government regulation of business and corporate social
responsibility?
Answer:
Every year Pam reassesses the economic situation in the target markets her company
serves. What factors will Pam likely assess?
Answer:
Francesca is a textbook company salesperson about to call on the Philadelphia School
District. She would like to know in advance whether the school district’s buying center
is autocratic or democratic. What types of behavior might she observe that would help
her to tell which of these two types of buying centers it is? How should she change her
sales approach depending on which type it is?
Answer:
The text states, “Good marketing is not a random activity.” Create an example to
respond to this statement.
Answer:
The author/self-publisher of a new book, The Gullah Bible (a translation of the Bible
into the Gullah language), wants to advertise her book. Which media outlets would be
most appropriate?
Answer:
Almost everyone in advertising agencies wants to be part of the creative team, coming
up with potential award-winning ads. What admonition needs to be considered when
creating advertisements and why?
Answer:
Flora wants to develop a zone of tolerance analysis for her veterinary practice. What is
a zone of tolerance in service quality? What types of questions would she need to ask to
conduct her analysis?
Answer:
The World Trade Organization creates proposals that are then discussed by more than
150 member countries and not approved until the proposal is agreeable to all. What type
of organizational culture exists in the WTO?
Answer:
Most public colleges charge less than half the price of similar private colleges. How can
each type of college be delivering value?
Answer:
Why must a firm’s STP strategy be consistent with and derived from the firm’s mission
and objectives?
Answer:
Warren used to sell cars at an automobile dealership. Now he sells repossession services
to automobile dealers. To be successful, what changes in the buying process will
Warren have to adjust to?
Answer:
Define and describe the product life cycle stage in which laggards begin to purchase
products.
Answer:
George decided to open a health club. His girlfriend, Lydia, a marketing manager at a
small company, tried to convince him to do some marketing research, but he said, “I
know what I don’t like about health clubs; that’s all the information I need. Besides, I
can’t afford an expensive research project.” He opened the club in a shopping center
about 15 miles from his home. Six months later, his club had very few members and he
was running out of cash. List some key types of primary and secondary data George
could have collected before opening his club that might have helped him be more
successful, keeping in mind his limited budget.
Answer:
What is puffery? Why is puffery not illegal in the United States? Give an example of an
advertising message containing puffery.
Answer:
You have been asked to evaluate the economic potential of a new global market. What
economic measures would you use? Explain each measure.
Answer:
Mary Grace is studying the demographics of the students attending her elementary
school. What information will Mary Grace study?
Answer: