__________ are revolutionizing not only the way people connect with each other but
also the way today’s products are advertised and sold.
A. Internet portals
B. Social media
C. Wikis
D. Virtual focus groups
E. E-journals
Answer:
Ford uses a(n) __________, whereby the company license dealers in North America to
sell Ford automobiles subject to various sales and service conditions.
A. service-sponsored producer franchise system
B. service-sponsored retail franchise system
C. manufacturer-sponsored wholesale franchise system
D. manufacturer-sponsored retail franchise system
E. administered vertical marketing system
Answer:
Profit responsibility refers to
A. the obligation of a firm to price its products or services at a level whereby the
consumer is treated fairly and the firm is still able to make a profit.
B. the view that an organization has an obligation to those who can affect the
achievement of its objectives.
C. the concept that no expansion or additional research and development will occur
until a company is making a profit.
D. the idea that organizations are part of a larger society and are accountable to that
society for their actions.
E. the duty of a firm to maximize profits for its owners or stockholders.
Answer:
Once a company has decided to enter the global marketplace, it must select a means of
market entry. Four general options exist: (1) __________; (2) licensing; (3) joint
venture; and (4) direct investment.
A. exporting
B. accreditation
C. countertrading
D. cooperative
E. franchising
Answer:
Merchants such as the Burlington Coat Factory purchase excess inventory at lower than
wholesale prices and can therefore sell brand-name merchandise at lower than regular
prices. This means that they are using a(n)
A. off-price retailing strategy.
B. markdown pricing strategy.
C. everyday fair pricing strategy.
D. everyday low pricing strategy.
E. maintained markdown pricing strategy.
Answer:
As the brand manager for Red Bull, what would you conclude from the information
provided in the Price Premium Marketing Dashboard above?
A. Red Bull has a price premium relative to Monster.
B. Rockstar has a price premium relative to Monster.
C. Red Bull engaged in price discounting relative to Monster and Rockstar from 2009
to 2010.
D. Rockstar sold more product than Monster in 2010.
E. In terms of dollar market share, Red Bull has a lower share than the “Other Brands”
category.
Answer:
A computer company salesperson invites the IT managers of its top ten customers (in
terms of dollar sales) to view a demonstration of the firm’s new product line, so the
salesperson can obtain their opinions regarding various options and configurations that
could be offered. These IT managers are most likely to be the __________ of their
organizations’ buying centers.
A. gatekeepers
B. influencers
C. reciprocity arrangers
D. buyers
E. users
Answer:
The philosophical reason for an organization’s existence is referred to as its
organizational __________.
A. strategy
B. direction
C. foundation
D. goal
E. business
Answer:
Which of the following statements regarding organizational foundation is most
accurate?
A. An organizational foundation specifies its goals.
B. An organizational foundation defines the business that it is in.
C. An organization’s foundation empowers stakeholders to have a voice in the strategic
marketing process.
D. An organization’s foundation is its philosophical reason for being – why it exists.
E. An organization’s foundation is the company, its product, and its customers.
Answer:
The four steps in the sequential process of building the brand equity pyramid include:
(1) developing positive brand awareness; (2) __________; (3) eliciting the proper
consumer responses to a brand’s identity and meaning; and (4) creating an intense,
active, and loyal consumer-brand connection.
A. easing consumers’ decision making
B. forming a brand personality
C. rewarding loyal customer behavior
D. establishing a brand’s meaning in the minds of consumers
E. developing brand licensing criteria
Answer:
A(n) __________ is a legal entity that consists of people who share a common mission.
A. department
B. organization
C. SBU
D. industry
E. market
Answer:
The click-through rate is
A. the percentage of recipients who have clicked on a link on the Page to visit a specific
site.
B. the percentage of e-mail recipients who buy the product after receiving a targeted
message with an embedded link.
C. the percentage of customers who buy a product from the brand website.
D. the total number of people who have visited a brand’s Facebook Page and have
become Facebook fans.
E. the total number of people who have purchased the product online divided by the
number of people viewing the Page.
Answer:
In the telemarketing industry, issues such as __________, ethical guidelines, and
industry standards have become a topic of discussion among consumers, Congress, the
Federal Trade Commission (FTC), and businesses.
A. competitive antics
B. coercion tactics
C. freedom of speech
D. language issues
E. consumer privacy
Answer:
All of the following variables are central to how consumers learn from repeated
experience EXCEPT:
A. purchase.
B. reinforcement.
C. response.
D. drive.
E. cue.
Answer:
Subcultures refer to
A. subgroups within the larger national culture, whose values and beliefs are
diametrically opposed to foreign cultures.
B. groups within organizations whose values and beliefs influence the corporate culture.
C. subgroups within the larger, or national, culture with unique values, ideas, and
attitudes.
D. stakeholder groups outside an organization whose values and beliefs are contrary to
the corporate culture.
E. the designation given to people between the ages of 13 and 24 whose values and
beliefs are not yet fully formed but are still influenced both by their families and
society.
Answer:
Tara is enrolled for spring semester at college. The tuition is $6,000, but she has a
scholarship for $1,000 as well as a work-study grant of $1,500. The health fees and
student activity fees are $150 for the semester. What is the final price that Tara will pay
for the spring semester?
A. $2,500
B. $2,650
C. $3,150
D. $3,650
E. $6,150
Answer:
Internet users ages 15 and older are expected to buy __________ worth of products and
services online (excluding travel, automobiles, and prescription medications) in 2017.
A. $829 million
B. $997 million
C. $39 billion
D. $278 billion
E. $370 billion
Answer:
Which problem solving variation would typically be used for blenders, a restaurant for
lunch, or professional ball game tickets?
A. routine response behavior
B. extended problem solving
C. simulated selection
D. integrated problem solving
E. limited problem solving
Answer:
Before moving out of their apartment, Kelly and Doug decided to have their carpets
cleaned by Stanley Steemer, a company specializing in professional carpet cleaning.
The carpet cleaners arrived on time, cleaned the carpets, and drove away in their bright
yellow van; only then did the couple see that they did a good job. Kelly and Doug were
unable to judge the service before they bought it, which illustrates the __________ of
services.
A. inconsistency
B. inseparability
C. inventory costs
D. intangibility
E. interdependence
Answer:
People who referred 10 friends to the Procter & Gamble website for Physique shampoo
received a free, travel-sized styling spray and were entered in a sweepstakes to win a
year’s supply of the shampoo. The promotion generated 2 million referrals and made
Physique the most successful new shampoo ever launched in the United States. To
accomplish this, P&G used __________.
A. opt-out marketing
B. customerization
C. viral marketing
D. niche marketing
E. buzz marketing
Answer:
During the maturity stage of the product life cycle, profit declines primarily because
__________.
A. there are fewer and fewer competitors in the market
B. promotional expenditures increase
C. production costs increase the more a firm has to manufacture the same product
D. there is fierce price competition among sellers
E. more consumers enter the market seeking bargains
Answer:
Two sources of horizontal conflict are common. It may occur when __________.
A. a manufacturer increases its distribution coverage in a geographical area
B. disagreements arise over how profit margins are distributed among channel members
C. manufacturers believe wholesalers or retailers are not giving their products adequate
attention
D. a channel member bypasses another member and sells or buys products direct
E. dual distribution causes conflict when similar types of retailers carry different brands
Answer:
Behavioral measures used to evaluate salespeople include assessments of a
salesperson’s __________, attention to customers, product knowledge, selling and
communication skills, appearance, and professional demeanor.
A. attitude
B. patience
C. intelligence
D. personal values
E. personal ethics
Answer:
Travel websites like Priceline.com are designed to be __________-oriented, with
emphasis on destinations, scheduling, and prices.
A. content
B. functionally
C. aesthetically
D. text
E. picture
Answer:
The process by which an individual selects, organizes, and interprets information to
create a meaningful picture of the world is referred to as __________.
A. motivation
B. attitude formation
C. learning
D. perception
E. a self-concept
Answer:
The importance of time, dependability, communication, and convenience are all
important concepts of __________, within the context of the supply chain.
A. customer service
B. supplier service
C. wholesaler service
D. retailer service
E. stakeholder service
Answer:
Building open and honest relationships with communication is an example of Zappos’
__________.
A. profile for its target market
B. best practices being adapted from its new owner, Amazon.com
C. ten core values for Zappos’ culture
D. qualities required of Zappos’ suppliers
E. qualities required of Zappos’ retailers
Answer:
A good brand name should: (1) suggest the product benefits; (2) __________; (3) fit the
company or product image; (4) have no legal or regulatory restrictions; (5) be simple
and emotional; and (6) have favorable phonetic and semantic associations in other
languages.
A. never have a humorous connotation
B. easy to spell and pronounce
C. not be easily imitated
D. be patented
E. be memorable, distinctive, and positive
Answer:
Figure 12-4
Figure 12-4 above depicts the four most common marketing channels for business
products and services. Channel D would be an appropriate marketing channel for
__________.
A. Cray supercomputers
B. Harkman electrical products
C. Boeing aircraft
D. Caterpillar tractors
E. Fastenal industrial fasteners
Answer:
Lifestyle refers to
A. the set of behaviors that is a result of spending one’s time and money as one pleases.
B. a mode of living that is defined by one’s personal moral philosophy.
C. the similar values, interests, and behaviors that members of society share.
D. a self-defined identification of belonging to a lower, lower-middle, middle,
upper-middle, or upper class in terms of values, attitudes, and beliefs.
E. a mode of living that is identified by how people spend their time and resources,
what they consider important in their environment, and what they think of themselves
and the world around them.
Answer:
Consumers often use the prices of __________ items, such as a can of Coke, to form an
overall impression of the store’s prices.
A. benchmark
B. stoplight
C. point-of-purchase
D. value-based
E. loss-leader
Answer: