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An MIS is used to ________.
A) generate product interest
B) develop marketing plans
C) identify demographic trends
D) assess information needs
E) test hypotheses about cause-and-effect relationships
Answer:
Which of the following is true with regard to the product/expansion grid?
A) It classifies SBUs into four distinct categories.
B) It is a useful device for identifying growth opportunities.
C) It helps companies analyze their internal strengths and weaknesses.
D) It functions on the premise that firms should downsize to regain market share.
E) It is a useful device for segregating customers into distinct categories.
Answer:
Which of the following is a major element of developing an advertising strategy?
A) selecting advertising media
B) using sophisticated statistical models
C) setting advertising objectives
D) evaluating advertising campaigns
E) setting the advertising budget
Answer:
A country with a(n) ________ economy consumes most of its own agricultural and
industrial outputs and offers few market opportunities.
A) industrial
B) service
C) technological
D) subsistence
E) developing
Answer:
Which of the following best characterizes the decline stage of product development?
A) rapid market acceptance
B) slow sales growth
C) sales and profits decline
D) high investment costs
E) increasing profits
Answer:
Which of the following is true of value-based pricing?
A) The targeted value and price drive decisions about what costs can be incurred and
the resulting product design.
B) Value-based pricing is mostly product driven.
C) Value-based pricing involves setting prices based on the costs of producing,
distributing, and selling the product plus a fair rate of return for its effort and risk.
D) The marketer usually designs a product and marketing program and then sets the
price.
E) A company using value-based pricing designs what it considers to be a good product,
adds up the costs of making the product, and sets a price that covers costs plus a target
profit.
Answer:
________ are agents who take physical possession of products and negotiate sales.
They deal mostly with agricultural marketing.
A) Industrial distributors
B) Cash-and-carry wholesalers
C) Purchasing officers
D) Rack jobbers
E) Commission merchants
Answer:
Which of the following promotion categories is most likely to use the promotion tools
of press releases, sponsorships, events, and Web pages?
A) sales promotion
B) direct marketing
C) advertising
D) public relations
E) horizontal diversification
Answer:
Which of the following advertising situations would LEAST likely be considered
"puffery"?
A) Mr. Clean coming to a housewife's rescue
B) instantly toned thighs and legs as a result of using the Thigh Master for only 15
minutes
C) children immediately growing into attractive adults as a result of drinking milk
D) a retired couple drinking a vitamin and protein shake and then going bicycling
E) a sleepy mom who wakes up to a gray day, drinks a cup of coffee, and then looks out
her window to see golden sunshine, beautiful flowers blooming, songbirds singing, and
a rainbow on the horizon
Answer:
James has decided to buy a new vehicle. His brother John has recently purchased a new
truck and recommends the same model to James. James finally decides to buy the same
truck. Which of the following sources of information has most likely influenced James'
purchase decision?
A) experiential sources
B) public sources
C) personal sources
D) commercial sources
E) market mavens
Answer:
In several major cities in the U.S, the ________ operates business service centers with
staffs to provide a complete education on the way government agencies buy, the steps
that suppliers should follow, and the procurement opportunities available.
A) Defense Logistics Agency
B) Federal Business Agency
C) Small Business Administration
D) General Services Administration
E) U.S. Commerce Department
Answer:
________ refers to activities that communicate the merits of the product and persuade
target customers to buy it.
A) Position
B) Promotion
C) Pricing
D) Segmentation
E) Prospecting
Answer:
All of the following are disadvantages of test marketing EXCEPT that test marketing
________.
A) is typically expensive
B) can be time consuming
C) enables competitors to gain advantages
D) encourages dishonesty among participants
E) fails to guarantee product success in the market
Answer:
News conferences, press tours, and grand openings are examples of ________, a type of
tool commonly used by public relations professionals.
A) public service activities
B) special events
C) social networking
D) development
E) investor relations
Answer:
A(n) ________ controls the flow of information to others in the buying center.
A) user
B) influencer
C) buyer
D) decider
E) gatekeeper
Answer:
Which of the following is a price adjustment strategy that considers how a customer's
perception of a product is influenced by its price?
A) captive product pricing
B) psychological pricing
C) by-product pricing
D) promotional pricing
E) international pricing
Answer:
When sellers focus on existing needs and lose sight of underlying customer wants, they
suffer from marketing myopia.
Answer:
________ buy mostly from producers and sell to retailers and industrial consumers.
A) Warehouse clubs
B) Factory outlets
C) Wholesalers
D) Discount stores
E) Megaretailers
Answer:
Which of the following promotion categories is most likely to include the use of
displays, discounts, coupons, and demonstrations?
A) sales promotion
B) direct marketing
C) horizontal diversification
D) public relations
E) advertising
Answer:
Which of the following is a demographic factor that a company should consider before
deciding to enter into a new country?
A) transportation structure
B) natural resources
C) political stability
D) languages
E) education
Answer:
In industrial markets, ________ typically has the final say in setting the pricing
objectives and policies of a company.
A) the sales manager
B) top management
C) the production manager
D) the HR department
E) the sales staff
Answer:
________ segmentation divides buyers into different segments based on social class,
lifestyle, or personality characteristics.
A) Benefit
B) Occasion
C) Geographic
D) Demographic
E) Psychographic
Answer:
All of the following are problems associated with the poor selection of salespeople
EXCEPT ________.
A) lower sales
B) costly turnover
C) less productivity
D) fewer training expenses
E) disruptive customer relationships
Answer:
The sets of firms that supply companies with the raw materials, components, parts,
information, finances, and expertise needed to create products or services are known as
________.
A) retailers
B) upstream partners
C) distributors
D) downstream partners
E) distribution channels
Answer:
In routine buying situations, which of the following members of the buying center has
formal or informal power to select or approve the final suppliers?
A) users
B) influencers
C) gatekeepers
D) deciders
E) buyers
Answer:
Most standard portfolio analysis methods evaluate SBUs on the ________.
A) potential for niche or global marketing
B) degree of product differentiation
C) strength of the market or industry position
D) accessibility to rural markets
E) number of successful business acquisitions
Answer:
Brand ________ refers to how consumers feel if a brand meets their needs.
A) differentiation
B) equity
C) dilution
D) esteem
E) relevance
Answer:
What is the first element that a reader most likely notices in a print ad?
A) copy
B) illustration
C) headline
D) slogan
E) tone
Answer:
Refer to the scenario below to answer the following question(s).
Most clients of Second Avenue have learned about the store through word-of-mouth
communication. This small retailer of quality secondhand children's clothing thrives on
the sale of a vast inventory of children's clothing placed on consignment. "Because
small children grow so quickly," Second Avenue's owner commented, "they often
outgrow many of their clothes before they've hardly been worn!"
Second Avenue provides a way for people to sell their children's clothing, earn a few
dollars, and buy the next larger size. "We're extremely picky about the condition of the
clothing we stock," the owner stated, "but we sell most items at a 60-percent discount."
Second Avenue has just developed a 30-second television ad that features three different
shoppers enthusiastically shopping in the store and appreciating its products. This ad
uses the ________ execution style.
A) slice of life
B) technical expertise
C) personality symbol
D) fantasy
E) image
Answer:
________ is defined as analyzing, planning, implementing, and controlling sales force
activities.
A) Benchmarking
B) Sales force management
C) Business intelligence
D) Sales force automation
E) Sampling
Answer:
________ marketing is more suited for products that vary in design.
A) Mass
B) Local
C) Direct
D) Differentiated
E) Individual
Answer:
Refer to the scenario below to answer the following question(s).
Alden Manufacturing produces small kitchen appliancesblenders, hand mixers, and
electric skilletsunder the brand name First Generation. Alden attempts to target
newlyweds and first-time home buyers with this brand.
Considering that most young households have limited financial resources, Alden
attempts to engage in target costing. "In doing this," says Milt Alden, the co-founder of
Alden Electronics, "we have better control over keeping price right in line with
customers."
Alden manufactures a three-speed blender, its top seller, along with a five-speed
blender. The hand mixers are manufactured in two variantsa small handheld mixer with
two rotating beaters and another that comes with an optional stand and an attached
mixing bowl. Alden's temperature-controlled skillets are manufactured in a single style
with three color options.
"Our product offerings are narrower," Milt Alden added, "but our line workers know
each product like the back of their hands. This allows us to produce superior products
while holding our prices low.
If Milt Alden focuses on overall costs of manufacturing plus profit in setting product
prices, which strategy would he employ?
A) break-even pricing
B) competition-based pricing
C) value-added pricing
D) cost-plus pricing
E) good-value pricing
Answer:
Government agencies design ________ to encourage energy conservation and
discourage smoking, excessive drinking, and drug use.
A) club marketing programs
B) social marketing campaigns
C) consumer-generated marketing campaigns
D) ambush marketing campaigns
E) frequency marketing programs
Answer:
An example of a company exhibiting a blue ocean strategy is ________.
A) Amazon's online shopping convenience
B) a Starbucks opening in the same vicinity of an independent coffee house
C) Nike's brand image of the 'swoosh"
D) Whirlpool's full line of medium-priced, energy-saving appliances
E) the first digital tablet iPad released by Apple
Answer:
Pierre's Mart, a grocery store in New Orleans, Louisiana, offers less merchandise
selection and fairly low levels of service. Despite the lackluster service and limited
selection of merchandise, customers still flock to Pierre's because it charges
rock-bottom prices. Pierre's Mart most likely uses the ________ positioning.
A) more for the same
B) more for less
C) same for less
D) less for much less
E) more for more
Answer:
