Using ________, a company modifies a basic good or service to meet the needs of a
specific individual customer.
A) undifferentiated targeting
B) positioning
C) customized marketing
D) mass customization
E) differentiated targeting
Over the past 100 years or so, Binney and Smith’s Crayola crayons have become
household staples in more than 80 countries around the world. The company
occasionally tinkers with the product’s marketing mix to maintain market share. Crayola
crayons are in the ________ stage of the product life cycle.
A) growth
B) extension
C) development
D) maturity
E) decline
All of the following are barriers to successful exporting except ________.
A) tariffs
B) local content laws
C) import quotas
D) export merchants
E) economic sanctions
________ are intangible products that we pay for and use but never own.
A) Consumer goods
B) Services
C) Industrial goods
D) E-commerce products
E) Value products
The growth-market share matrix developed by the Boston Consulting Group (BCG) is a
type of ________.
A) SWOT analysis
B) portfolio analysis
C) value chain
D) situational analysis
E) compatibility assessment
Retailers handle the financial exchange when a customer pays for a product. This is an
example of the ________ function of channel intermediaries.
A) communication
B) marketing
C) promotional
D) transaction
E) management
Which of the following is NOT among the largest of the world’s developing countries?
A) Brazil
B) Russia
C) India
D) Canada
E) China
Which of the following is the best example of the long tail approach to selling?
A) Nearly 20 percent of the videos delivered by Netflix are older or obscure titles from
its vast collection of videos.
B) Kraft Foods focuses on the 20 percent of U.S. households that purchase 80 percent
of the Miracle Whip the company markets.
C) Barnes & Noble stocks the most popular books and magazines in its retail stores.
D) Google lets advertisers target certain ads to certain segments of search engine users.
E) Staples segments its business-to-business markets based on sales volume.
Burt can visit his local hardware store and buy one 4-inch paint brush and not the case
of 24 brushes that the retailer had to buy. This is an example of how the channel of
distribution facilitates ________.
A) assortment creation
B) risk taking
C) breaking bulk
D) relationship management
E) logistics
You are responsible for supervising order takers at Acme, Inc. Which of the following
would you be LEAST likely to expect these people to perform?
A) executing the preapproach stage of the creative selling process
B) assisting business customers
C) processing customer transactions
D) communicating with customers over the phone
E) executing the close stage of the creative selling process
When a government adopts a policy of ________, it enforces rules on foreign firms in
order to give home companies an advantage.
A) gray marketing
B) countertrade
C) monopolistic competition
D) economic sanctions
E) protectionism
Easy Spirit uses ads featuring a country music singer with the hope that her fans will
see her wearing Easy Spirit shoes and want to wear the same shoes she wears. Easy
Spirit is hoping the singer’s fans view her as a ________.
A) steward
B) status symbol
C) heuristic
D) reference group
E) microculture
Which of the following is the best example of a durable good?
A) a bag of cat food
B) a refrigerator
C) a bottle of nail polish
D) a package of lightbulbs
E) a box of detergent
A firm’s skunk works department would most likely be located ________.
A) in a central part of the firm’s main office building
B) in the most productive section of the company
C) away from the firm’s traditional offices
D) at the headquarters of the firm’s largest customer
E) as close as possible to the firm’s communication specialists
Which of the following statements about the service encounter is true?
A) The quality of service delivered by a company is only as good as its best employee.
B) The customer plays a minimal role in the quality of the service encounter.
C) An employee’s actions, words, and physical appearance do not represent the
organization.
D) The quality of information provided by the customer does not affect the quality of
the service encounter.
E) The service encounter has a social dimension and a physical dimension.
Trading firms that work out elaborate deals in which they trade or barter their products
with one another or even supply goods in return for tax breaks from the local
government are using ________.
A) protectionism
B) competitive intelligence
C) gray marketing
D) countertrade
E) inflation
When consumers are unable to judge the quality of a product through examination or
prior experience, they usually do which of the following?
A) Make a price-quality inference.
B) Depend on an internal reference price.
C) Assess the fair price.
D) Experience an assimilation effect.
E) Experience a price-placebo effect.
Do-it-yourself advertising is a type of ________.
A) user-generated content
B) advocacy advertising
C) sales promotion
D) corrective advertising
E) public service advertising
Which of the following statements about merchandise brokers is true?
A) Brokers are paid salaries by the manufacturers for whom they work.
B) Brokers never take title to the merchandise they sell.
C) Brokers work for manufacturer-owned intermediaries.
D) Brokers typically represent sellers on an ongoing basis.
E) Brokers work in industries with only a few, very large buyers and sellers.
The pharmaceuticals division of Omni Healthcare holds low market share in a
high-growth market. In order to increase market share, managers would be most likely
to decide which of the following?
A) hold the pharmaceuticals division’s share
B) implement a harvest strategy
C) use money from a cash cow to promote the pharmaceuticals division
D) divest the SBU
E) diversify the pharmaceutical division
________ are consumer products for which a consumer either has little awareness or
interest until a need arises. These products require a lot of advertising, personal selling,
and other marketing efforts.
A) Specialty products
B) MRO products
C) Unsought products
D) Shopping products
E) Staple products
Which of the following would most likely be used in the process of developing and
implementing a positioning strategy?
A) a perceptual map
B) a geographic information system
C) NAICS
D) PRIZM
E) VALS™
Prep for Success is an educational services company that specializes in preparing
students for selective private school entrance exams. Prep for Success sends
information about its services to consumers who have purchased school supplies such
as backpacks and lunchboxes online and live in a community with an average
household income of above $85,000 per year. This is an example of a company using
________ for data creation.
A) scanner data
B) reality mining
C) unstructured data
D) direct paths
E) indirect paths
A manufacturer of acrylic, latex, and nitrile gloves sells to medical laboratories,
factories where employees handle chemicals, companies that manufacture micro-tech
equipment, and cleaning services. The company is organized to better satisfy the
specific needs of each of its four target markets, so it uses a ________ structure.
A) product category
B) market manager
C) brand manager
D) venture team
E) family brand
According to the ________ hypothesis, new retailing forms often begin as low-margin,
low-price, low-status operations to challenge established retailers; then become
successful; and eventually take the place of the established retailers they had
challenged.
A) agent
B) broker
C) wheel-of-retailing
D) warehousing
E) retail life cycle
When demand is ________, increases in price result in increases in total revenues,
while decreases in price result in decreases in total revenue.
A) elastic
B) inelastic
C) flexible
D) supply-driven
E) cross-elastic
When the size and purchasing power of a target segment can be determined, the
segment is ________.
A) measurable
B) accessible
C) substantial
D) differentiable
E) profitable
A number of top fashion-modeling agencies were charged with ________ because they
were jointly determining what commissions they would charge for models.
A) prestige pricing
B) horizontal price lining
C) vertical price lining
D) vertical price-fixing
E) horizontal price-fixing
Which of the following best describes the components of the marketing mix?
A) all aspects of the marketing environment
B) everything considered during functional planning
C) product, price, place, and promotion
D) production, price, distribution, and people
E) people, product, price, and placement
Two teachers purchased art supplies for their classes. One paid $103.45 for eight large
boxes of crayons. The other teacher purchased ten identical boxes for $105.55. The
second teacher got more for her money because she took advantage of a quantity
discount, a reduced price for buying ten or more boxes. Which element of the marketing
mix most directly relates to these purchases?
A) production
B) profit
C) price
D) place
E) possession
A ________ is a series of activities involved in designing, producing, marketing,
delivering, and supporting any product.
A) value proposition
B) production orientation
C) value chain
D) marketing concept
E) market position
White Wave Inc., the maker of Silk soy milk, gave away free samples of its product to
get consumers to try the first refrigerated soy milk sold in America. What stage of the
consumers’ adoption of a new product was White Wave Inc. trying to influence?
Support your answer.