Which of the following is a commercial source of product information?
A) acquaintances
B) family and friends
C) dealer Web sites
D) consumer rating organizations
E) Internet searches
C & G Retail, a chain of local supermarkets, procures all its goods directly from the
producers’ factories. This type of wholesaling is usually done in ________.
A) corporate broker branches
B) manufacturers’ offices
C) value-retail centers
D) warehouse clubs
E) factory outlet malls
Vertigo is an electronics company. According to the BCG matrix, which of the
following products of Vertigo would most likely classify as a question mark?
A) Blue’“a cell phone that is designed for music lovers and has a very low market share
in a market that is growing steadily
B) Electra’“a home entertainment system that has a strong market share in a market that
is likely to expand in the future
C) Jump’“an MP3 player that has a high market share in a market that is not expected to
grow significantly
D) SpinDrive’“a car audio system that has a high market share in a market that has been
growing constantly
E) SoLo’“a CD player that has a very low market share in a market that is shrinking
rapidly
Which of the following is an advantage of direct investment?
A) Direct investment involves fewer risks than joint ownership.
B) Direct investment ensures that a firm is shielded from market changes.
C) Direct investment allows a firm to keep full control over the investment.
D) Direct investment involves minimal financial or time expenditures.
E) Direct investment protects the firm from currency devaluation.
For over ten years, Erudite, a publishing and educational company that produces
college textbooks, has been selling its books online through studysmart.com, a popular
online retailer that sells textbooks published by different companies. Recently, Erudite
stopped selling its books through studysmart.com and set up its own website for selling
its books. This change in channel organization is called ________.
A) disintermediation
B) intensive distribution
C) brokering
D) franchising
E) selective distribution
________ involves minimizing pollution from production and all environmental
impacts throughout the full life cycle of goods.
A) The marketing concept
B) Pollution control
C) Product stewardship
D) Consumerism
E) Pollution prevention
Evaluating the results of marketing strategies and plans and taking corrective action to
ensure that the objectives are attained is called ________.
A) marketing control
B) marketing implementation
C) market planning
D) marketing development
E) market targeting
Which of the following is an experiential source of product information?
A) salespeople
B) using the product
C) Internet searches
D) packaging
E) mass media
When demand hardly changes with a small change in the price of a product, then the
demand for the product is best described as ________.
A) elastic
B) flexible
C) inelastic
D) variable
E) cyclical
GameStop, a video game retailer, offers a deep assortment of video games and video
game consoles. GameStop is best described as a(n) ________.
A) department store
B) supermarket
C) specialty store
D) discount store
E) off-price retailer
________ involves a review of the sales, costs, and profit projections for a new product
to find out whether they satisfy a company’s objectives.
A) Vendor analysis
B) Portfolio analysis
C) Business analysis
D) SWOT analysis
E) Concept analysis
In which of the following cases is a firm employing multichannel marketing?
A) E-tailers such as Hammon.com market their products through a strong online
presence.
B) Wingate Retail sells its products through e-tailers and hundreds of physical
superstores.
C) Russel Stores’ sales operations are based on heavy outbound telephone marketing.
D) Lues Wholesalers markets its products to retailers through personal selling.
E) Local convenience stores promote products through word-of-mouth marketing.
Which of the following is most likely a true statement about shopping products?
A) Shopping products tend to be less expensive than convenience products.
B) The existence of such products is generally unknown to consumers.
C) Shopping products are purchased less frequently than convenience products.
D) Consumers typically spend very little time comparing shopping products.
E) A life insurance policy is an example of a shopping product.
Which of the following is an impact of the Great Recession on retailing trends?
A) economic shift toward higher prices
B) lower costs for retailers
C) tighter consumer spending patterns
D) longer retail life cycles
E) prohibition on new retail forms
Which group is most likely offered functional discounts by manufacturers?
A) trade-channel members that perform sales tasks
B) consumers who buy products in large quantities
C) buyers who pay their bills before the due date
D) buyers who purchase merchandise out of season
E) retailers that participate in advertising programs
The challenge for makers of ________ products is to add long-run benefits without
reducing the products’ agreeable qualities.
A) salutary
B) desirable
C) pleasing
D) durable
E) deficient
________ is the study of human populations in terms of size, density, location, age,
gender, race, occupation, and other statistics.
A) Sociobiology
B) Demography
C) Behavioral ecology
D) Environmental studies
E) Political science
BerryBerry is a fruit juice company that has traditionally sold three varieties of
mixed-fruit juices: DazzleBerry, AquaBerry, and GloBerry. The company wants to add
more products to its product line. Which of the following is an example of brand
extension for BerryBerry?
A) The company introduces BerryBliss, a dried berry snack mix for kids.
B) BerryBerry adds a new fruit juice flavor, TangyBerry.
C) The company introduces a line of flavored milk and yogurt under a new brand name.
D) The company creates a new brand, NatureFresh, for a line of cosmetics based on
fruit flavors and colors.
E) BerryBerry teams up with SFX, a sporting goods company, to introduce a line of
energy bars called BerryBerry SFX.
From the economic system’s point of view, the role of marketing intermediaries is to
________.
A) facilitate the production of products without direct customer feedback
B) help a company develop a direct channel selling system
C) buy small quantities of products from producers and break them down into narrow
assortments for customers
D) increase the amount of work that must be done by producers and consumers
E) transform the assortments of products made by producers into the assortments
wanted by consumers
A product concept is ________.
A) the most promising product idea that develops at the brainstorming stage
B) a detailed version of a product idea stated in meaningful consumer terms
C) the way consumers perceive an actual or potential product
D) a detailed strategy to promote the launch of a new product
E) a product idea that is generated through crowdsourcing
Providing extra amenities to differentiate and support high-priced products is referred to
as ________ pricing.
A) high-low
B) value-added
C) target return
D) everyday low
E) cost-plus
ColaBlue, a soft drink manufacturer, is sued by an environmental group for not meeting
certain safety standards in its waste disposal. ColaBlue remedies the problem by adding
higher-grade filters and purifiers. Which of the following actions by ColaBlue would
constitute a public-relations effort to address the effects of the lawsuit and the
consequent damage to its brand image?
A) having well-trained personnel at retail outlets to explain the different ranges of
products the company provides
B) tying up with local restaurants to promote exclusive sales of ColaBlue soft drinks
C) lowering prices of ColaBlue’s products in the short term
D) holding a press conference to explain the remedial steps that ColaBlue has taken
E) making new advertisements for ColaBlue products and sponsoring shows on
television
________ refers to using point-of-purchase promotions and advertising to extend brand
equity to “the last mile” and encourage favorable point-of-purchase decisions.
A) Internal marketing
B) Sole sourcing
C) Warehousing
D) Test marketing
E) Shopper marketing
Which of the following is an example of a local public?
A) a community organization that addresses welfare issues in its neighborhood
B) a supplier responsible for sourcing most of the raw materials used in production
C) a company director who is working to improve the organization’s public image
D) a bank that helps a company acquire loans
E) a federal regulatory agency that monitors business practices