The website that enables users to send and receive messages up to 140 characters long
is
A. LinkedIn.
B. YouTube.
C. Twitter.
D. Facebook.
E. Friendster.
Answer:
Susan O’Rourke hired an attorney to represent her in a court case involving an auto
accident. The attorney charged O’Rourke a $2,000 retainer fee for his services. Terry
Thomas needed a haircut – the local stylist charged him $12 for her services. Aaron
Mathison mowed his neighbor’s lawn; in exchange, the neighbor roto-tilled Mathison’s
garden. The attorney fees paid by O’Rourke, the $12 charged by the hair stylist, and the
exchange of lawn mowing for garden tilling are all examples of
A. premiums.
B. barter.
C. the profit motive.
D. price.
E. outlays.
Answer:
Interactive ads that have drop-down menus, built-in games, or search engines to engage
viewers are referred to as __________.
A. rich media
B. banner ads
C. interactive media
D. pay-per-click ads
E. infotainment ads
Answer:
What is the challenge presented to brand managers by social media advertising?
A. Brand managers need to realize that social media are less likely to have a marketing
objective of immediate sales than traditional media.
B. Brand managers need to convince social networks to post their ads free of charge.
C. Brand managers need to create “universally appealing” ads since they cannot target
specific demographics on social networks.
D. Brand managers have difficulty estimating how many users have clicked on their
ads, which leads to problems in assessing an ad’s effectiveness.
E. Brand managers need to realize that there are only a few social networks to advertise
on.
Answer:
A salesperson who processes routine orders or reorders for products that were already
sold by the company is referred to as a(n) __________.
A. order getter
B. missionary salesperson
C. order taker
D. sales engineer
E. order processor
Answer:
What do 60 percent of prospective buyers dread about looking for a new car?
A. selecting the preferred brand
B. negotiating the price
C. taking a test drive
D. experiencing postpurchase dissonance
E. searching for cars on the Internet
Answer:
A price reduction given when a used product is part of the payment on a new product is
referred to as a __________.
A. cash discount
B. seasonal discount
C. trade-in allowance
D. promotional allowance
E. subsidy discount
Answer:
There are three variations of contractual vertical marketing systems:
wholesaler-sponsored voluntary chains, retailer-sponsored cooperatives, and
__________.
A. franchising
B. service-oriented voluntary chains
C. channel-dominated voluntary chains
D. distributorship cooperatives
E. reseller franchising
Answer:
If Dr. Pepper plans to grow its proportion of the flavors segment of carbonated soft
drink industry to 45%, it has set a(n) __________ goal.
A. sales proportionality
B. company sales
C. industry potential
D. contribution margin
E. market share
Answer:
Which of the following statements best distinguishes between consumer needs and
wants?
A. Needs are far more influential than wants with respect to marketing decision making.
B. Wants affect marketing decisions primarily for planned purchases while needs affect
marketing decisions primarily for impulse purchases.
C. Wants occur when a person feels deprived of basic necessities such as food, clothing,
and shelter while needs are determined by a person’s knowledge, culture, or personality.
D. Needs and wants are psychologically the same, but needs are those that a consumer
can be guaranteed to satisfy.
E. Needs occur when a person feels deprived of basic necessities such as food, clothing,
and shelter while wants are determined by a person’s knowledge, culture, or personality.
Answer:
To eliminate the need to continually monitor currency exchange rates, 16 of the
countries in the European Union (EU) have adopted a common currency, which is
called the __________.
A. pound
B. franc
C. euro
D. mark
E. dollar
Answer:
The practice of charging different prices to different buyers for goods of like grade and
quality is referred to as
A. horizontal price-fixing.
B. resale price maintenance.
C. price discrimination.
D. predatory pricing.
E. bait and switch pricing.
Answer:
In marketing, a(n) __________ is a thought that leads to a product or action.
A. observation
B. inspiration
C. innovation
D. idea
E. perception
Answer:
Promotion objectives should possess three important qualities. They should be designed
for a well-defined target audience, be measurable, and
A. contain some element of appeal, such as sex, fear, or humor.
B. be profitable.
C. stay within clearly defined budgetary constraints.
D. cover a specified time period.
E. retain some degree of flexibility.
Answer:
Logistical function activities include __________ products and services.
A. buying and selling
B. assorting, storing, sorting, and transporting
C. financing and grading
D. risk taking
E. marketing information for and research of
Answer:
Which of the following statements regarding the place element of services is most
accurate?
A. Place has little impact on the marketing of services because there are so many
intermediaries from which a consumer may choose.
B. The distribution site and the service provider are the intangible components of the
service.
C. Place is an especially important factor because of the inconsistency between the
service and the service provider.
D. As competition grows in service industries, the value of convenient distribution is
being recognized.
E. Technology is an effective way to bring services to the customer, but only if the
consumer is a new user; otherwise, the disadvantages outweigh the benefits.
Answer:
Recently, Fortune magazine named Trader Joe’s “America’s hottest retailer” for its
outstanding __________, including personal attention from employees in the store.
A. customer value proposition
B. relationship marketing
C. customer experience
D. internal marketing
E. customer relationship management
Answer:
A Pressure-Assist Flushing System for toilets, which uses air and water pressure to
ensure a powerful flush, can burst inside toilet tanks, releasing stored pressure,
according to the Consumer Product Safety Commission. It was recently recalled
following 14 reports of injuries. This action protected consumers’ right to
A. safety.
B. be informed.
C. be heard.
D. choose.
E. be treated courteously.
Answer:
E-marketplace can take two different formats, which are
A. bricks-and-mortar exchanges and clicks-and-mortar exchanges.
B. privately-owned trading communities and open-to-the-public trading communities.
C. networked exchanges or public trading communities.
D. independent trading communities or private exchanges.
E. public exchanges and networked exchanges.
Answer:
Product features and usage rate are both variables used to employ __________
segmentation.
A. geographic
B. demographic
C. loyalty
D. psychographic
E. behavioral
Answer:
Beauty product websites are traditionally designed to be more __________-oriented
than travel websites.
A. content
B. functionally
C. aesthetically
D. text
E. picture
Answer:
Factors that determine consumers’ willingness and ability to pay for products and
services are referred to as
A. supply factors.
B. demand factors.
C. affordability factors.
D. elasticity factors.
E. macro environmental factors.
Answer:
A relationship that exists when a buyer and its supplier adopt mutually beneficial
objectives, policies, and procedures for the purpose of lowering the cost or increasing
the value of products and services delivered to the ultimate consumer is referred to as a
__________.
A. supply partnership
B. supplier development agreement
C. reciprocal arrangement
D. shareholder relationship
E. strategic alliance
Answer:
Pricing constraints are
A. the controllable elements in a firm’s marketing mix that allow it to charge the highest
price possible.
B. formulas used in establishing break-even points, price elasticity of demand, and
marginal analysis of revenues and costs.
C. factors that limit the range of prices a firm may set.
D. high-level goals held by the firm that recommend methods of pricing a firm may use.
E. virtual boundaries used when setting the initial price on a new product.
Answer:
In 1962, President John F. Kennedy outlined a Consumer Bill of Rights that codified the
ethics of exchange between buyers and sellers. These were the right: (1) to safety; (2) to
be informed; (3) to choose; and (4) __________.
A. to have legal representation in a court of law
B. to exchange or return products and services within a reasonable period of time
C. to receive fair prices for both products and services
D. to be heard
E. to be compensated for product defects
Answer:
Many consumers buy a subscription to The Wall Street Journal and have it delivered to
their homes by 5:30 a.m. so that they can read it during breakfast. This purchase is an
example of which situational influence?
A. purchase task
B. social surroundings
C. physical surroundings
D. temporal effects
E. antecedent states
Answer:
Several improvements in technology and business practice tools contributed to Google’s
success. Google developed its patented __________ algorithm that evaluates the entire
link structure of the Internet and uses the link structure to determine which pages are
most important.
A. PageLeaf
B. PageFolio
C. PageRank
D. PageCall
E. PageTag
Answer:
Which of the following statements best describes the difference between a corporate
vertical marketing system and an administered vertical marketing system?
A. Administered vertical marketing systems gain power through ownership while
corporate vertical marketing systems gain power through contractual agreement.
B. Administered vertical marketing systems gain power through the size and influence
of one channel member and through ownership, rather than through contractual
arrangement.
C. Administered vertical marketing systems gain power through contractual agreements
and ownership rather than through size.
D. Administered vertical marketing systems are usually larger and more profitable than
corporate vertical marketing systems.
E. Administered vertical marketing systems achieve coordination in production and
distribution through the size and influence of one channel member rather than through
ownership.
Answer:
The addition of Clorox II bleach to Tide laundry detergents is an example of a
A. discontinuous innovation.
B. bundled innovation.
C. dynamically continuous innovation.
D. disruptive innovation.
E. continuous innovation.
Answer:
People in the finance and the human resources departments traditionally operate at what
organizational level?
A. corporate level
B. top management level
C. strategic business unit level
D. functional level
E. stakeholder level
Answer:
Which of the following illustrates movement along the demand curve?
A. Prices remain the same, but there is a significant increase in demand.
B. Prices remain the same, but there is a significant decrease in demand.
C. As the price is raised, the quantity demanded increases, assuming all demand factors
stay the same.
D. As the price is lowered, the quantity demanded increases, assuming all demand
factors stay the same.
E. Movement along the curve indicates that some significant event has taken place
outside the organization that has affected demand.
Answer: