According to the Federal Trade Commission, __________ percent of fraud complaints
are Internet related, costing consumers $560 million.
a. 35
b. 46
c. 55
d. 64
e. 75
Answer:
The unauthorized use of intellectual property can severely affect the owners of that
property. This practice also
a. levels the playing ground for developing nations by eliminating years of research
time.
b. accelerates innovation in that industry, as new and improved offerings enter the
marketplace.
c. has a negative impact on the economy through the loss of jobs, royalties, wages, or
tax revenue.
d. has a positive impact on an entire nation’s cultural value system.
e. ensures that the prices to consumers are minimized as a result of increased
competition.
Answer:
One of the weaknesses inherent in the use of the BCG business portfolio analysis is that
it
a. causes dissension between different divisions when one is labeled a ‘star” and another
a “dog.”
b. reduces employee motivation to move a low valued SBU to a higher one.
c. considers too many SBU factors beyond market growth rate and relative market
share.
d. does not require sales forecasts in order to be implemented.
e. is often difficult to obtain the needed information to place SBUs in the matrix
correctly.
Answer:
The practice of __________ is so common that researchers estimate a typical media day
for Generation Y consumers is 31 hours.
a. simultaneous media use
b. media addiction
c. extended multimedia ad campaigns
d. the never sleeping Internet user
e. the ability of telemarketers to call nonstop across time zones
Answer:
All of the following are addressed by an organization’s code of ethics EXCEPT:
a. the dress, sayings, and work manner of employees.
b. contributions to political parties and government officials.
c. customer and supplier relationships.
d. accurate recordkeeping.
e. conflicts of interest.
Answer:
Which of the following statements about how women buy cars today is most accurate?
a. Women have definite likes or dislikes when buying a car, but they don”t feel
comfortable expressing their opinions.
b. Most women actually enjoy the price negotiation process.
c. The issue of ‘speed” is an important factor to men but not really important to women.
d. Women are more likely to make their car purchase selection as a result of information
provided by a friend or a relative than from promotional information.
e. Women care more about exterior styles and lines and men are more concerned with
cargo space and gas mileage.
Answer:
When a marketing researcher uses a collection of reports, customer letters, financial
statements, and surveys from different departments within her firm, she is using
a. internal secondary data.
b. primary data.
c. external secondary data.
d. sensitivity analysis.
e. probability data.
Answer:
Figure 1.
In Figure 1. above, “C” represents which stage of the market segmentation process?
a. link needs to actions
b. identify market needs
c. establish a marketing protocol
d. execute marketing program actions
e. segment and select the target markets
Answer:
Figure 1.
Figure 1. above shows the market-product grid for a Wendy’s restaurant next to a large
urban university campus. Assume a large market (shown by a “3”) is three times the
size of a small market (shown by a “1”). Similarly, assume a medium market (shown by
a “2”) is twice the size of a small market. The largest potential market segment consists
of
a. students that live in a dormitory.
b. students that live in an apartment.
c. students that are day commuters.
d. students that are night commuters.
e. faculty or staff members.
Answer:
In marketing experiments, the independent variables of interest, sometimes called the
marketing __________, are often one or more of the marketing mix elements.
a. factors
b. drivers
c. forces
d. actions
e. causalities
Answer:
Figure 1.
What is the name of the tool shown in Figure 1. above that is the basis for the
scheduling techniques used today in marketing and production?
a. a market-product grid
b. a Gantt chart
c. a project schedule
d. a sales response function
e. a Plan-A-Gram
Answer:
YouTube would be an excellent social network to advertise all of the following products
EXCEPT:
a. power tools.
b. financial services.
c. cars.
d. men’s cologne.
e. blenders.
Answer:
Procter & Gamble can obtain cooperation from supermarkets in terms of displaying,
promoting, and pricing its products, given its broad assortment of brand-name products.
Which type of vertical marketing system does Procter & Gamble represent?
a. corporate vertical marketing system
b. integrated vertical marketing system
c. contractual vertical marketing system
d. administered vertical marketing system
e. forward integration vertical marketing system
Answer:
Sales engineers from Siemens, a German manufacturer, have won a contract for a new
space-based telescope. They must now evaluate whether components and assemblies
will be purchased from outside suppliers or be built by Siemens itself. This aspect of the
problem recognition stage of the organizational buying decision process is known as a
a. cost analysis.
b. make-buy decision.
c. value analysis.
d. modified rebuy.
e. derived-demand decision.
Answer:
Marketing two or more products in a single package price is referred to as
a. package pricing.
b. loss-leader pricing.
c. bundle pricing.
d. tie-in pricing.
e. multi-product pricing.
Answer:
Data mining refers to
a. any form of electronically-generated market research.
b. the extraction of hidden predictive information from large databases to find statistical
links between consumer purchasing patterns and marketing actions.
c. a branch of marketing specializing in obtaining both objective and subjective data to
be used by other companies or organizations.
d. obtaining information about a competitor and its products for use by one’s own firm.
e. the use of information derived solely from unsolicited sources such as customer
complaints or complements.
Answer:
A manufacturer of a digital video recorder (DVR) is thinking of using a skimming
pricing strategy for its new product. Which of the following conditions would argue
AGAINST using a skimming pricing strategy for the DVR?
a. large potential market, even at a high price
b. technological problems still exist for competitors
c. increasing volume reduces production costs substantially
d. consumers perceive a price-quality relationship
e. consumers are innovators
Answer:
A written statement of manufacturer liability is referred to as a(n) __________
warranty.
a. explicit
b. functional
c. implied
d. strict-liability
e. express
Answer:
The actions taken during the evaluation phase of the strategic marketing process
include: (1) compare results with plans to identify deviations and (2) __________.
a. find points of difference
b. execute the marketing program
c. track sales and revenues and compare with competitors
d. develop the budget by estimating revenues, expenses, and profits
e. correct negative deviations and exploit positive ones
Answer:
With over 300 million customers, __________ is the world’s largest mobile phone
market and is adding 5 million new customers a month.
a. India
b. Russia
c. China
d. the European Union
e. the United States
Answer:
Pizza Hut’s management team uses a __________ to monitor various aspects of the
brand’s marketing program and provide an almost constant stream of fresh information
that it can use to optimize engagement with people or tweak various aspects of
performance.
a. marketing matrix
b. transfer template
c. marketing dashboard
d. information screen
e. corporate dashboard
Answer:
Missionary salespeople are __________.
a. salespeople who specialize in identifying, analyzing, and solving customer problems,
but who do not actually sell products and services
b. salespeople who process routine orders for products that are presold by the company
c. salespeople who identify prospective customers, provide customers with information,
persuade customers to buy, close sales, and follow up on a customer’s use of the product
or service
d. people on the selling team who are responsible for obtaining qualified leads
e. sales support personnel who do not directly solicit orders but rather concentrate on
performing promotional activities and introducing new products
Answer:
A product line is a group of product or service items that are closely related because
they satisfy a class of needs, are used together, __________, are distributed through the
same type of outlets, or fall within a given price range.
a. are made of similar components
b. require high levels of R&D
c. are sold to the same customer group
d. made from the same formulations
e. have one SKU number
Answer:
Figure 1.b
According to Figure 1.b above, which of the following SBUs has the LOWEST YTD
revenue compared to its target?
a. Hardware
b. Electronics
c. Software
d. Peripherals
e. Grand Total
Answer:
Which of the following statements regarding diversification analysis is most accurate?
a. Companies should only use diversification analysis if they are well-established; new
companies that use this process run the risk of trying to do too much too soon.
b. For any product, there is both a current and a new market and for any market, there is
both a current and a new product.
c. Most companies discover that there is at least one product that is targeted to the
wrong market.
d. Diversification analysis is only effective for consumer products.
e. Diversification analysis is used to forecast and calculate industry sales for new
products.
Answer:
Consider the PLC product photos above. Which stage of the product life cycle (PLC) is
the Kodak Playsport pocket video camera?
a. introduction
b. growth
c. maturity
d. accelerated development
e. decline
Answer:
Because advertising is expensive, marketers want to be certain the advertisements they
run communicate the intended message to the target audience. In order to accomplish
this communication goal, marketers conduct __________ before advertisements are
placed in a medium.
a. pretests
b. double blind tests
c. efficacy trials
d. aided recall tests
e. sales tests
Answer:
Another commonly-used term for product manager is __________.
a. line advisor
b. product champion
c. brand manager
d. marketing advisor
e. account executive
Answer:
Situational influences refer to
a. the five aspects of the purchase situation that impact the consumer purchase decision
process: purchase task, social surroundings, physical surroundings, temporal effects,
and antecedent states.
b. the temporary impediments to a consumer’s purchase decision.
c. psychological concepts that are useful for interpreting buying processes and directing
marketing efforts.
d. the feelings of postpurchase anxiety that can arise from a number of different factors
including social surroundings, physical surroundings, temporal effects, and antecedent
states.
e. both the objective and subjective attributes a consumer uses to compare different
products and brands.
Answer:
Vertical price fixing refers to
a. two or more competitors explicitly or implicitly setting prices.
b. the practice of charging different prices to different buyers for goods of like grade
and quality.
c. controlling agreements between independent buyers and sellers whereby sellers are
required not to sell products below a minimum retail price.
d. a conspiracy among firms to set prices for a product or service.
e. a seller’s requirement that the purchaser of one product also buy another product in
the line.
Answer:
Wholesalers that carry a broad assortment of merchandise and perform all channel
functions are referred to as a __________.
a. limited-line wholesaler
b. drop shipper
c. rack jobber
d. specialty merchandise wholesaler
e. general merchandise wholesaler
Answer:
In the hierarchy of effects, the consumer’s actual first purchase and use of the product or
brand is referred to as the _________ stage.
a. adoption
b. evaluation
c. awareness
d. interest
e. trial
Answer:
Whistle-blowers refer to
a. employees who are simultaneously employed by competing firms and who trade
company secrets.
b. employees who blackmail or extort money from their employers.
c. employees who are coerced by their employers to participate in illegal or unethical
activities.
d. customers who report unethical or illegal actions of the firms that market the
offerings they bought.
e. employees who report unethical or illegal actions of their employers.
Answer:
Discuss the process of pretesting and posttesting advertising copy. Include a list of
methods used for pretesting and posttesting in your answer. Be sure to explain why
marketers should pretest and posttest ad copy.
Answer:
How are transactional and promotional websites different?
Answer:
Brawny Comparison Photos
There are several visible differences between the two packages in the Brawny
comparison photos shown above. Discuss which aspect(s) might be considered legal but
unethical, and why.
Answer:
When a marketing plan fails, what should a marketer do in terms of looking for the
source of the problem?
Answer:
What assumption does the stimulus-response presentation format make?
Answer:
Describe the decline stage of the product life cycle. Explain the two strategies a
company might employ if its product were in the decline stage of its product life cycle.
Answer:
Explain why a majority of online consumers are concerned about the privacy and
security issues related to cookies.
Answer:
What is idea generation in the new-product process? From where do forward thinking
marketers get their ideas?
Answer:
What changes will likely occur in the future of retailing?
Answer:
What are the four components of the implementation phase of the strategic marketing
process?
Answer:
What is a point-of-purchase display? Discuss two reasons why firms use them.
Answer:
During October, kiosk or “pop-up” stores often appear in many malls for the holiday
season. Typically, these kiosks sell gift boxes of cheese, jewelry, and other items people
think are appropriate seasonal gifts. In January, these “pop-up” retailers vanish. Is it
possible for such a retailer to use relationship marketing? Explain your answer.
Answer:
What is a “negotiated measure” that is used as a performance measure for social media?
What are its advantages and disadvantages?
Answer:
Medtronic is the world leader in producing heart pacemakers and other medical devices.
Earl Bakken, Medtronic’s founder, wrote its mission statement when he launched the
firm over a half century ago. Summarize Medtronic’s mission statement and comment
as to why it is a good one.
Answer:
Explain the difference between “competencies” and “competitive advantage” in an
organizational setting.
Answer:
What is market segmentation and why is it important?
Answer:
In a five-year study, researchers Nohria, Joyce, and Roberson conducted in-depth
analysis of 160 companies and more than 200 management tools and techniques, such
as customer relationship management and use of an intranet. What were their findings?
That is, according to the researchers, how would a company exploit its competitive
advantage to achieve superior business performance?
Answer: