MET AD 66332

subject Type Homework Help
subject Pages 16
subject Words 3961
subject Authors E. Jerome Mccarthy, Joseph Cannon, William Perreault Jr.

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page-pf1
Newman's Own (a salad dressing brand) donates 100 percent of its after-tax profits to
progressive causes. Newman's Own is focusing on satisfying what level in the hierarchy
of needs?
A. Social needs
B. Personal needs
C. Safety needs
D. Physiological needs
Answer:
Which of the following would probably NOT be in a proposed marketing plan?
A. A list of what company resources (costs) would be required.
B. A statement of how frequently the design of the website will be changed.
C. Expected sales and profit results.
D. A description of the target market and marketing mix.
E. All of these would normally be part of a marketing plan.
Answer:
page-pf2
If a profit-oriented marketing manager doesn't know the exact shape of the firm's
demand curve, marginal analysis:
A. is useless.
B. may be useful anyway-because a profitable region usually surrounds the best price.
C. will suggest the same price as break-even analysis.
D. suggests that the only sensible approach is to follow the market leader.
E. None of these alternatives is true.
Answer:
Advertising spending as a percent of sales dollars is largest for:
A. soap and detergent.
B. perfumes and cosmetics.
C. sporting and athletic goods.
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D. soft drinks and water.
E. motor vehicles.
Answer:
Sales-oriented objectives stated in market share terms:
A. make some sense when a market is growing rapidly.
B. use market share targets instead of dollar or unit sales targets.
C. might be achieved and still result in losses for the firm.
D. may lead to greater economies of scale for the firm than for its competitors.
E. All of these alternatives are correct.
Answer:
page-pf4
When a purchasing manager knows roughly what is needed but can't describe it
exactly-or when the purchasing arrangement may change as the job progresses-then
buying is likely to be by:
A. negotiated contract.
B. description.
C. inspection.
Answer:
Which of the following is LEAST likely to compete in the same generic market with
the others?
A. Garlic powder.
B. Pepper.
C. Tabasco sauce.
D. Salt.
E. Potato chips.
Answer:
page-pf5
Use this information for question that refer to the Centerville Retailers and Wholesalers
case.
Carol Lamb has lived in Centerville all her life. She owns a retail store that sells hobby
and craft supplies. She bought the store after working there for 7 years. Carol has just
been asked to head up the Retailers and Wholesaler Group of the Centerville Chamber
of Commerce. The most active chamber members in her group are described below:
Walden's Leather is part of a regional chain of stores that sells leather goods-mostly
men's and women's clothing-with the upscale Walden's brand name. Walden's primarily
relies on its own stores where knowledgeable salespeople offer great service. Walden
products are also sold, on a limited basis, in some fine department stores.
Publisher's Helper is a small business started by Audrey Yang that provides and stocks
display racks for paperback books and magazines. Most retailers welcome the service
Audrey provides, in part because she does her own research to determine which
paperback books and magazines sell best in Centerville.
Cuzco's is Centerville's alternative to Walmart. The store sells a wide variety of
merchandise. The company used to concentrate its product mix on small appliances-but
now Cuzco's carries any product that it can sell profitably. Its low prices stimulate faster
turnovers and higher sales volumes.
Games Unlimited sells video games. Jamie Carraway, who owns the local store, signed
a contract with Games Unlimited and follows strict rules covering her store's operations
and the Games Unlimited marketing strategy. She pays that company a fee for
promotion it provides as well as commissions on her sales.
Johnson's Health and Beauty Supplies sells cosmetics and other health and beauty
products to retailers and salons throughout the greater Centerville area. It owns the
goods it sells to these retailer customers, and it provides all the wholesaling functions
they need.
Valu Grocer is an independent grocery store that belongs to an organization sponsored
by a large food wholesaler. The fifty stores grocery stores that share the Valu Grocer
name are linked by contracts that include basic operating procedures, storefront designs,
and joint promotion efforts.
Reddy and Sons sells equipment for several different manufacturers of plastic molding
in the Centerville area. It earns a commission from each manufacturer on the products it
sells for that manufacturer, but it does not take ownership of the equipment it sells nor
does it install the equipment.
Katrina's Salon started out as a low-status, low-price, low-margin hair salon 15 years
ago. After some success, the company moved into a nicer storefront, raised prices, and
now operates in the middle of the market.
Which of these businesses would be classified as a specialty shop?
page-pf6
A. Walden's Leather
B. Cuzco's
C. Publisher's Helper
D. Valu Grocer
Answer:
Which of the following observations is true of a mature market?
A. There is downward pressure on prices.
B. Profit margins are never under threat.
C. Differentiating the value a firm offers is easy.
D. Pricing choices are abundant.
E. Price moves up the demand curve over time.
Answer:
page-pf7
Use this information for question that refer to the Super Gaming Company and
Accessories (SGCA) case.
Kayla Jurgenson, marketing manager for Super Gaming Computers and Accessories
(SGCA), is reviewing her company's plans for the coming year.
SGCA sells its products through retail computer dealers and some specialty gaming
stores. Currently, SGCA is carried in 25 percent of all retail computer stores nationwide,
but in California is carried in only 10 percent of stores. So, Kayla has set an objective of
being in 25% of all retail computer stores in California within one year.
SGCA plans to introduce a new SuperDuperGamer model with special features that fits
its target market of teen and young adult gamers. The SuperDuperGamer uses a new
technology and is expected to be a breakthrough product, but it will be important to
build awareness for it to succeed. So, the advertising objective is for 40% of SGCA's
target market to be aware of the new SuperDuperGamer model within 3 months. SGCA
also wants to help its retailers reduce their current stock of SuperGamer computers
before the new model comes out in a month. The SuperGamer has been on the market
for two years and has been a top seller in the category. SGCA's advertising objective for
the SuperGamer computer is to reduce current dealer stock by 80% within the next
month.
SGCA is also introducing a SuperEnhancer sound card, which is designed to
significantly enhance the game-playing experience with older computers. Research with
gamers show that it is very well received, so the advertising objective for the
SuperEnhancer sound card is to gain 40% market share among all gaming-specific
sound cards in the next year. To help achieve that objective, Jurgenson is planning to
use an ad that shows the sound card and a game player being knocked off his chair by
the sound. The headline on the ad reads, "9 Out of 10 Gamers Say that the
SuperEnhancer Sound Beats All Others!"
In order to achieve its objective at a retailer called Computer Superstore, SGCA intends
to repay the retailer for a share of what it spends to advertise SGCA's computers in
local media. This is
A. called cooperative advertising.
B. likely to increase the income that SGCA's ad agency gets for buying media space.
C. a bad idea because retail stores usually pay higher rates in local media than do
national advertisers.
D. all of these alternatives are true.
page-pf8
Answer:
The Nutrition Labeling and Education Act of 1990 requires food manufacturers to:
A. list the nutritional value of the food product.
B. use a uniform format in the Nutrition Facts panel.
C. list the fat content of the food product.
D. list ingredients that trigger common food allergies.
E. All of these are part of the Nutrition Labeling and Education Act.
Answer:
The National Cheese Association's ad theme "We are making better cheese for you" is
an example of:
page-pf9
A. institutional advertising.
B. cooperative advertising.
C. pioneering advertising.
D. competitive advertising.
E. reminder advertising.
Answer:
The direct market environment
A. includes customers, the company, and competitors.
B. consists of variables that can be controlled.
C. is broader in scope than the external environment.
D. includes economic and technological environments.
E. is made up of the political, legal, and social environments.
Answer:
page-pfa
The retail life cycle of which type of retailer began before the 1900s?
A. Variety stores
B. Single-line mass-merchandisers
C. Department stores
D. Internet merchants
E. Supercenters
Answer:
Boatwright College gives manufacturers of clothing and gift items permission to place
the college's name and emblem on a wide variety of merchandise. In return, Boatwright
is paid a fee for granting this permission. In this case, the Boatwright name and logo is
a(n):
A. Manufacturer brand
B. Individual brand
C. Dealer brand
D. Licensed brand
E. Private brand
page-pfb
Answer:
A good marketing manager knows that:
A. a fashion is the currently accepted or popular style.
B. the faster fashions change, the harder marketing strategy planning is.
C. modern technology affects the speed of fashion change.
D. a fad is even more short lived than a fashion.
E. All of these alternatives are true.
Answer:
A one-price policy means:
A. offering the same price to all customers who purchase products under essentially the
same conditions and in the same quantities.
B. never using temporary sales or rebates.
page-pfc
C. selling to different customers at different prices.
D. setting a price at the "right" level from the start and never changing it.
E. None of these alternatives is correct.
Answer:
A car company sent three automobile magazines some technical information and
explanations about the features of its innovative new model. One of the magazines later
printed a story about the car. This is an example of:
A. personal selling.
B. advertising.
C. publicity.
D. sales promotion.
E. None of these is a good answer.
Answer:
page-pfd
Two similar groups of consumers are shown different magazines which include the
same ad. Then each consumer is asked questions about the advertised product. This
seems to be a description of
A. the experimental method.
B. a set of focus group interviews.
C. a consumer panel research project.
D. a set of personal interviews.
E. None of these alternatives is a good answer.
Answer:
Which of the following would be a determining dimension for a customer who needs to
buy a marketing textbook for school?
A. Avid reader
B. Status as college student
C. Income level
D. Traveler
E. Age
page-pfe
Answer:
Which of the following is NOT a full-service merchant wholesaler?
A. Broker
B. Single-line wholesaler
C. General-line wholesaler
D. General merchandise wholesaler
E. Specialty wholesaler
Answer:
Which of the following is usually NOT true about business products?
A. The demand curve for a particular industry is usually inelastic.
B. Demand for consumer products is derived from business products.
page-pff
C. The demand curve for individual sellers may be extremely elastic.
D. Each business product may be only a small part of the cost of a final product.
E. None of these, i.e., all ARE true.
Answer:
Which of the following statements is NOT accurate concerning the five-step approach?
A. Step 1 defines the problem.
B. Step 2 is early identification of solution.
C. Step 3 gathers problem-specific data.
D. Step 4 interprets data.
E. All of these are correct.
Answer:
page-pf10
A marketing manager wants to know if a "2 for 1" coupon will attract new customers.
He will get the most persuasive results if he uses
A. a focus group to ask consumers if they like the idea.
B. an experimental method in which only some consumers get the coupon and the
purchases of the two groups (with and without coupons) are compared.
C. personal interviewers to ask consumers how they will react.
D. a mail survey to ask consumers if they use coupons and why.
E. none of these would allow the manager to determine if the coupon will help get new
customers.
Answer:
Vendor analysis is a(n)
A. analytic processing of requests to buy something from a vendor.
page-pf11
B. formal rating of suppliers on all relevant areas of performance.
C. analytic processing of requests to sell something to a vendor.
D. request to buy something.
E. written description of what the firm wants to buy.
Answer:
Which of the following statements is true regarding marketing ethics and social
responsibility?
A. When products are complicated, consumers may be vulnerable to unscrupulous
sellers.
B. Firms should aim to advance their own short-term interests at the expense of
customers.
C. Being socially responsible tends to decrease a firm's costs, but negatively affects its
profits.
D. Consumers only want to purchase products that are safe or good for them in the
long-run.
Answer:
page-pf12
Which of the following observations concerning the market maturity stage is note true?
A. Many aggressive competitors have entered the race for profits.
B. There is a long-run downward pressure on prices.
C. New firms cannot enter the market at this stage.
D. Promotion costs rise and some competitors cut prices to attract business.
E. Persuasive promotion becomes more important during this stage.
Answer:
Packaging
A. objectives should focus primarily on promoting the product at the point of purchase.
B. is important to manufacturers, but not retailers.
C. decisions should be based on what package will result in the lowest possible cost to
the consumer.
D. almost always increases costs.
E. None of these alternatives is true.
page-pf13
Answer:
Use this information for question that refer to the Centerville Retailers and Wholesalers
case.
Carol Lamb has lived in Centerville all her life. She owns a retail store that sells hobby
and craft supplies. She bought the store after working there for 7 years. Carol has just
been asked to head up the Retailers and Wholesaler Group of the Centerville Chamber
of Commerce. The most active chamber members in her group are described below:
Walden's Leather is part of a regional chain of stores that sells leather goods-mostly
men's and women's clothing-with the upscale Walden's brand name. Walden's primarily
relies on its own stores where knowledgeable salespeople offer great service. Walden
products are also sold, on a limited basis, in some fine department stores.
Publisher's Helper is a small business started by Audrey Yang that provides and stocks
display racks for paperback books and magazines. Most retailers welcome the service
Audrey provides, in part because she does her own research to determine which
paperback books and magazines sell best in Centerville.
Cuzco's is Centerville's alternative to Walmart. The store sells a wide variety of
merchandise. The company used to concentrate its product mix on small appliances-but
now Cuzco's carries any product that it can sell profitably. Its low prices stimulate faster
turnovers and higher sales volumes.
Games Unlimited sells video games. Jamie Carraway, who owns the local store, signed
a contract with Games Unlimited and follows strict rules covering her store's operations
and the Games Unlimited marketing strategy. She pays that company a fee for
promotion it provides as well as commissions on her sales.
Johnson's Health and Beauty Supplies sells cosmetics and other health and beauty
products to retailers and salons throughout the greater Centerville area. It owns the
goods it sells to these retailer customers, and it provides all the wholesaling functions
they need.
Valu Grocer is an independent grocery store that belongs to an organization sponsored
by a large food wholesaler. The fifty stores grocery stores that share the Valu Grocer
name are linked by contracts that include basic operating procedures, storefront designs,
and joint promotion efforts.
Reddy and Sons sells equipment for several different manufacturers of plastic molding
page-pf14
in the Centerville area. It earns a commission from each manufacturer on the products it
sells for that manufacturer, but it does not take ownership of the equipment it sells nor
does it install the equipment.
Katrina's Salon started out as a low-status, low-price, low-margin hair salon 15 years
ago. After some success, the company moved into a nicer storefront, raised prices, and
now operates in the middle of the market.
___________ would be classified as an agent wholesaler.
A. Reddy and Sons
B. Publisher's Helper
C. Johnson's Health and Beauty Supplies
D. Valu Grocer
E. None of these businesses would be classified as an agent wholesaler.
Answer:
Which of the following statements about rebates is True?
A. Rebates are refunds paid to consumers after a purchase.
B. Rebates ensure that the final consumer gets a producer's price reduction.
C. Many consumers purchase a product because a rebate is offered but then never
request the refund.
D. Many consumers think that some sellers make it an unnecessary hassle to claim a
rebate.
E. All of these statements about rebates are True.
page-pf15
Answer:
Current consumer research suggests that the family's purchasing agent is now:
A. the husband.
B. the children.
C. the wife.
D. it varies, depending on the product and the family.
Answer:
Regarding supermarkets, which of the following statements is TRUE?
A. It's best to think of supermarkets as "conventional retailers."
page-pf16
B. Supermarket net profits after taxes usually are about 1-2 percent of sales-or less.
C. Worldwide, supermarkets make up the majority of food stores.
D. The early supermarkets were based on the premise that consumers would pay more
for better selection and service.
E. All of these statements about supermarkets are TRUE.
Answer:

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