All of the following are stages in the PLC EXCEPT ________.
A. introduction
B. growth
C. maturity
D. adoption
E. decline
Costs that are directly attributable to the production of a product or delivery of a service
are referred to as ________.
A. fixed costs
B. variable costs
C. target costs
D. total costs
E. unit costs
Of the following, a company would be most likely to rely on ________ to lower its
costs and focus its resources on core competencies.
A. brand stretching
B. price wars
C. bundling
D. brand valuation
E. outsourcing
The ________ Act created the regulatory body that investigates unfair trade practices.
A. Federal Trade Commission
B. Clayton
C. Sherman Antitrust
D. Consumer Protection
E. Robinson-Patman
Which of the following is NOT an important factor in marketing accountability?
A. complying with legal requirements
B. managing resources
C. increasing return on marketing investment
D. decreasing marketing expenses
E. increasing marketing efficiency
Which of the following is the best advice about business plans for Paul, who has a great
idea for a start-up business but will need substantial external financing to get started?
A. Have a business plan in place by the first day your business is open.
B. Have a business plan in place before seeking out investors.
C. Focus on the product overview and fill in details about the competitive environment
after the business has launched.
D. Focus on the operations overview and fill in financial details after the business has
launched.
E. Make operational and financial objectives as general as possible.
The functional benefit of a family car is to provide ________.
A. safety
B. transportation
C. status
D. savings
E. entertainment
Which of the following is the statement of how a business intends to achieve its
marketing objectives?
A. business vision
B. business mission
C. marketing mix
D. marketing strategy
E. marketing audit
Steve’s Physco Skates sells its products to Walmart, which then sells them to the
consumer. This is an example of a(n) ________.
A. direct marketing channel
B. zero-level channel
C. indirect marketing channel
D. horizontal channel
E. vertical marketing system
Young Music Lovers and Fashionable Fifty-Somethings are examples of possible
________.
A. target markets
B. geographic groups
C. demographic segments
D. social classes
E. market trends
________ is the level of consistency of a research measurement.
A. Flexibility
B. Validity
C. Responsiveness
D. Reliability
E. Representativeness
After the purchase of a product, consumers will be either satisfied or dissatisfied and
engage in ________.
A. problem recognition
B. evaluation of alternatives
C. postpurchase evaluation
D. product expectations
E. information searches
________ influence marketing by favorably presenting a company’s products and
services through the creation and placement of media content.
A) Investors
B) Competitors
C) Consumers
D) PR agencies
E) Marketing research companies
Which of the following is an accurate statement about the diversity of the American
population?
A. African Americans represent the largest non-white segment of the population.
B. Asian Americans make up the most affluent U.S. ethnic subculture.
C. The Asian American percentage of the population is expected to remain steady in the
next 50 years.
D. Ethnic minorities account for more than half of the population in only a handful of
America’s biggest cities.
E. American ethnic populations are expected to slowly decrease in the next few
decades.
A(n) ________ sales force is usually less expensive for a company to operate than a(n)
________ sales force.
A. product line; geographic
B. product line; key account
C. industry; geographic
D. inside; outside
E. outside; inside
Marketing communication is also known as ________.
A. production
B. promotion
C. pricing
D. press
E. placement
Which of the following is NOT part of the sales management process?
A. determining the size of the sales force
B. recruiting and hiring salespeople
C. setting company objectives
D. motivating individual salespeople
E. evaluating the performance of individual salespeople
When the value of a country’s exports exceeds the value of its imports, the country has
a(n) ________.
A. industrial economy
B. exchange control
C. trade surplus
D. trade deficit
E. post-industrial economy
Ralph Nader is most closely associated with which of the following?
A. the consumerism movement of the 1960s
B. the consumerism movement of the early 1900s
C. the current environmentalism movement
D. green marketing
E. the social marketing concept
________ is the sorting, storing, and reselling of products to retailers or businesses.
A. Wholesaling
B. Retailing
C. Franchising
D. Discounting
E. Logistics
A salesperson would be most likely to use Standard & Poor’s during which stage of the
personal selling process?
A. preapproach
B. approach
C. sales presentation
D. overcome objections
E. close the sale
Refer to the scenario below to answer the following questions.
Reliable Tool Company is a manufacturer of hubs and axles for the trailer and heavy
truck industry. Although Reliable Tool only has fifteen customers, the company is the
sole supplier of hub and axle components to those customers. Monthly sales at Reliable
Tool are approximately $1 million. “You might say we have all of our eggs in one
basket,” says owner Arthur Deetz. Therefore, it is critical that a competent sales force
nurture those few but large accounts. Ninety-five percent of Reliable Tool’s customers
are located in Michigan, Ohio, and Indiana, which means that travel time to all
customers is relatively short. However, given the nature of the industry, time spent with
each customer is essential.
Because Reliable Tool has only a few customers, the sales force manager wants to make
satisfying customers throughout the sales process as important as making large sales.
Which of the following is the best strategy for the Reliable Tool sales manager to adopt
in order to motivate the sales force to focus on customer satisfaction?
A. paying the sales force on a straight commission
B. making commissions a large portion of each salesperson’s compensation package
C. creating a recognition program for salespersons with the highest ratings on customer
surveys
D. organizing the sales force by product line
E. organizing the sales force by industry
Which of the following best describes a purchase funnel?
A. an assessment of advertising effectiveness
B. a sequential consumer decision-making model
C. a measure of return on investment
D. a customer relationship management model
E. an advertising copy test
Promotion activities for which of the following types of products are most likely to be
highly targeted to very specific audiences?
A. specialty products
B. context products
C. consumer products
D. shopping products
E. staples
________ involves working from the outside in to interpret stimuli, while ________
involves working from the inside out to match external conditions to a desired
condition.
A. Attitude; motivation
B. Attitude; learning
C. Learning; perception
D. Motivation; perception
E. Perception; motivation
________ are items that are used or consumed for personal use.
A) Services
B) Demands
C) Products
D) Promotions
E) Utilities
Which of the following advertising situations would LEAST likely be considered
puffery?
A. a mother of small children declaring that a packaged meal “rescued my day”
B. a young woman saying that a new abdominal exercise machine was more motivating
than her old workout routine
C. a milk advertisement claiming that the calcium in milk promotes healthy bone
growth
D. a retired couple drinking a vitamin and protein shake and then saying, “It makes us
feel young again”
E. a sleepy man waking up to a gray day, drinking a cup of coffee, and then looking out
his window to see golden sunshine, beautiful flowers blooming, songbirds singing, and
a rainbow on the horizon
________ describes how responsive demand will be to a change in price.
A. Price elasticity
B. Break-even pricing
C. The experience curve
D. Target costing
E. Cost transparency
Competition and consumer interest are both examples of ________ factors.
A. internal
B. transactional
C. relational
D. market
E. attitudinal
Prospecting is the step in the selling process in which the salesperson ________.
A. gathers detailed information about a prospective customer before making a sales call
B. meets the customer for the first time
C. identifies potential customers
D. tells the customer the product’s general benefit
E. clarifies and overcomes customer objections to buying
A ________ is the process a business uses to evaluate the different combinations of
products and services the business offers.
A. SWOT analysis
B. portfolio analysis
C. marketing mix
D. ROMI analysis
E. marketing audit
How do successful companies recruit and train their salespeople? What are the
objectives of most sales force training programs?
Provide the advantages/benefits of the telephone, mail, and online data-collection
options for conducting quantitative research.
The EPA has mandated that, in order to reduce local pollution, your printing plant
switch from oil-based to water-based inks. This will require entirely new printing
presses and a new printing plate technology. After carefully searching through
numerous manufacturers’ equipment descriptions and gathering opinions from all
relevant parties related to the work, the printing plant’s buying center will be ready to
make this ________ purchase.
A. Modified rebuy
B. New task
C. Straight rebuy
D. Straight task
E. Situational analysis
When is it advisable to predominantly use sales promotion in a promotional mix?
Briefly describe three decisions a marketer must make when formulating a channel
strategy.
What role does the marketing mix play in implementing a marketing strategy?
Why might other systems within a company resist marketing initiatives?
Explain the concept of positioning.
Explain several of the issues that marketers interested in green marketing should
consider.
Define strategic planning. Discuss the steps involved.
What is the difference between a forward auction and a reverse auction?
Describe what a demand curve is and explain how it helps businesses.
Explain the five criteria a group should fulfill to qualify as a true consumer segment.
Describe the three benefits that strong brands provide to consumers.
Explain why typical husband-dominant or wife-dominant products of the 1970s may no
longer be regarded as typical.
How is a business plan different from an individual department’s plan?
Explain three of the difficulties that organizations face when they commit to measuring
marketing effectiveness.
Explain the difference between puffery and an exaggerated claim in marketing.