According to the “hierarchy of needs” model, the first needs most people try to satisfy
are their ______________ needs.
A. safety
B. personal
C. physiological
D. social
E. any of these are correct.
Answer:
After identifying its key customers in terms of profitability, a firm can look to see what
similar characteristics those current customers have. Then, it can try to find prospective
new customers who characteristics similar to its current customers. What type of
research analysis is most likely to prove fruitful in identifying these new prospects?
A. ISO 9000
B. Resident buyer codes
C. NAICS codes
D. Intermediary codes
E. JIT codes
Answer:
______________ is the process of naming broad product-markets and then segmenting
these broad product-markets in order to select target markets and develop suitable
marketing mixes.
A. Market positioning
B. Market segmentation
C. Mass marketing
D. Diversification
E. Strategic planning
Answer:
With respect to culture and consumer behavior,
A. culture is the whole set of beliefs, attitudes, and ways of doing things of a reasonably
homogeneous set of people.
B. culture may exert many subtle influences on other aspects of consumer behavior.
C. different cultural subgroups are likely to require different marketing mixes.
D. all of these alternatives are correct.
Answer:
Producers who consider handling the entire distribution job themselves may be
especially inclined to do so because:
A. many customers have established buying patterns that don’t include buying direct
from producers.
B. many customers have a preference for shopping at their favorite locations and won’t
be likely to change.
C. direct distribution usually requires a significant investment in facilities, people, and
information technology.
D. a channel partner (intermediary) is not available or will not cooperate.
Answer:
Mass-merchandisers:
A. usually operate with low margins on individual items.
B. are now the primary place to shop for many frequently purchased consumer
products.
C. generally run a self-service operation.
D. are concerned with maintaining high inventory turnover.
E. All of these alternatives are correct for mass-merchandisers.
Answer:
The ____________ says that retailers should offer low prices to get faster turnover and
greater sales volumes by appealing to larger markets.
A. Wheel of retailing theory
B. Production concept
C. Mass-merchandising concept
D. Sales concept
E. Primary industry theory
Answer:
Customer service is part of:
A. Product.
B. Place.
C. Promotion.
D. Price.
Answer:
Segmenting international markets can be more difficult because:
A. the concepts and approaches for segmenting domestic markets simply do not apply.
B. there are more dimensions and many unfamiliar variables.
C. there are fewer useful dimensions.
D. a manager must rely entirely on his or her own judgments about people in other
countries.
E. the quantity and quality of available market data are usually greater.
Answer:
A firm’s “break-even point” is that point where:
A. maximum profit is earned.
B. total variable cost just equals total revenue.
C. total profit just equals total cost.
D. total cost just equals total revenue.
E. None of these alternatives is correct.
Answer:
Faced with a decline in red meat consumption, the American Beef Association is
sponsoring an advertising campaign to increase consumption of beef by stressing new
research results about beef’s nutritional benefits. This is an example of:
A. competitive advertising.
B. reminder advertising.
C. comparative advertising.
D. indirect action advertising.
E. pioneering advertising.
Answer:
______________ is concerned with whether the research data measures what it is
intended to.
A. Cross-tabulation
B. Validity
C. Regularity
D. Dependability
E. Confidence
Answer:
An intermediary:
A. is a wholesaler-not a retailer.
B. usually increases the number of transactions required.
C. tends to make the exchange process more difficult and costly.
D. is someone who specializes in trade rather than production.
E. none of these answers is correct.
Answer:
Motivation theory
A. suggests that most products must fill more than one need at a time.
B. suggests that we are obsessed with lower-level needs.
C. explains why marketing efforts targeted at affluent consumers should always focus
on lower-level needs.
D. suggests that individuals choose a specific response depending on cues.
E. emphasizes that, for greatest satisfaction, higher level needs should not be our focus.
Answer:
Which of the following does NOT contribute to total inventory cost?
A. Costs of damage to products while in inventory
B. Costs of risks such as theft and fire
C. Costs of inventory becoming obsolete
D. Increase in the value of goods
E. Handling costs
Answer:
A new-product idea moves through the early stages of the life cycle more quickly when
it has all the following characteristics EXCEPT:
A. the product is easy to use.
B. the product can be tried on a limited basis, without a lot of risk to the customer.
C. the product has no competitive advantage over those already in the market.
D. the product is compatible with the values and experiences of target customers.
E. the product’s advantages are easy to communicate.
Answer:
A person who needs to purchase something usually completes a
A. requisition.
B. supply form.
C. contract.
D. certificate of purchase.
E. vendor analysis.
Answer:
The text’s consumer product classes are based on:
A. the demand elasticity of the products.
B. the way people think about and shop for products.
C. the type of stores that sell the products.
D. the quantity in which products will be purchased or used.
E. how the sellers view the products.
Answer:
A set of ________________ contains a written or electronic description of what a firm
wants to buy.
A. requirements
B. purchasing specifications
C. blueprints
D. quality certifications
E. request forms
Answer:
What would be the best way for the marketing manager of a supermarket to find out
how consumers move through the store?
A. Have an interviewer go through the store with each customer.
B. Observe customers with hidden cameras.
C. Give customers a questionnaire after they have finished shopping.
D. Install checkout counters at the end of each aisle.
E. None of these alternatives would be very good.
Answer:
Which of the following offers a firm the greatest potential for profit?
A. Mass marketing
B. The multiple target market approach
C. The combined target market approach
D. The single target market approach
E. Any of these-depending on the situation
Answer:
Department stores:
A. usually aim at customers seeking convenience products.
B. have accounted for a larger share of retail sales every year since 1950.
C. have no trouble holding their own against mass-merchandisers.
D. are organized into separate departments.
E. All of these alternatives are true for department stores.
Answer:
Which of the following is NOT a Place decision?
A. Types of intermediaries needed.
B. Degree of market exposure desired.
C. Recruiting, selecting and managing the sales force.
D. Type of distribution channel to use.
E. Customer service level desired.
Answer:
A disadvantage of average-cost pricing is that it
A. does not consider historical values.
B. is a highly complicated method of pricing.
C. is rarely a useful input to pricing decisions.
D. is easy to lose money with average-cost pricing.
E. does not help understand how costs operate at different levels of output.
Answer:
New-task buying
A. is a routine repurchase that may have been made many times before.
B. occurs when an organization has a new need and the customer wants a great deal of
information.
C. is an in-between process where some review of the buying situation is done.
D. occurs when an organization has a routine need and the customer wants only
minimal information.
E. involves no review of suppliers.
Answer:
People from different ethnic groups
A. create challenges and not opportunities for marketers.
B. do not play an important role in the American marketplace.
C. may be influenced by very different cultural variables.
D. have common needs.
E. have similar ways of thinking.
Answer:
Which of the following is not a selective process used in gathering and interpreting
information from the world around us?
A. Selective exposure
B. Selective perception
C. Selective retention
D. Selective attention
Answer:
Selective distribution:
A. is likely to reduce high administrative expenses caused by a large proportion of
small orders.
B. may be suitable for all categories of products.
C. is becoming more popular.
D. is a good idea if some of the available intermediaries are not financially solid.
E. All of these alternatives are correct.
Answer:
As the owner of a Bluetooth specialties store, Alicia Fountainbleau has an income of
$72,000. She pays $30,000 per year in taxes and another $22,000 per year in grocery
bills, house mortgage, and car payment. Last year she spent an additional $4,000 on a
two-week vacation at a Club Med in Rio de Janeiro. What was Alicia’s discretionary
income last year?
A. $20,000.
B. $4,000.
C. $42,000.
D. $26,000.
E. $50,000.
Answer:
The “four Ps” of a marketing mix are:
A. Production, Personnel, Price, and Physical Distribution
B. Promotion, Production, Price, and People
C. Potential Customers, Product, Price, and Personal Selling
D. Product, Price, Promotion, and Profit
E. Product, Place, Promotion, and Price
Answer:
When a department store manager decides to offer its female shoppers a free trial of
Clinique’s new skin cream, this is a decision about:
A. Product
B. Place
C. Promotion
D. Price
Answer:
When looking for attractive opportunities, a marketing manager should consider:
A. the firm’s producing capability and flexibility.
B. the firm’s financial strengths.
C. whether the firm has good relations with established intermediaries.
D. the firm’s marketing strengths.
E. All of these should be considered.
Answer: