The key factor distinguishing retailers from other members of the supply chain is that
A. they sell to consumers, businesses, and government.
B. they utilize marketing to reach consumers.
C. they use advertising to generate demand.
D. they rarely engage in personal selling.
E. they sell to customers for their personal use.
Answer:
Bertone’s Office Supplies has large stores resembling warehouse environments, with
racks stocked from floor to ceiling with different types of office supplies. Its assortment
of office supplies is the largest in town, and its prices are low. Bertone’s is a(n)
A. warehouse club.
B. extreme value retailer.
C. off-price retailer.
D. full-line discount retailer.
E. category specialist.
Answer:
Colin has been directed by his boss to determine if the company is meeting customers’
service quality expectations. One of Colin’s problems is that services are __________,
making evaluation of service quality difficult.
A. quantifiable
B. substantial
C. unequally distributed
D. intangible
E. inconsequential to customers
Answer:
The United States has often been called the “melting pot” society, integrating people
from many different cultures into the social fabric of the country. The challenge for
marketers is to determine whether a group’s culture
A. is socially important.
B. is passed from generation to generation orally or by written guides.
C. competes with or complements U.S. traditional culture.
D. can be used as a relevant identifier for a particular target group.
E. is an important immediate marketing environment variable.
Answer:
One of the advantages of personal selling over other types of marketing communication
is that
A. salespeople can build strong relationships with customers.
B. personal selling almost always costs less than other marketing communication
alternatives.
C. personal selling has greater reach than advertising.
D. cold calling is easier than direct mail advertising.
E. personal selling requires less training than other types of selling.
Answer:
When consumers associate a brand with a certain level of quality and familiar
attributes, allowing consumers to make quick decisions, the brand
A. establishes novelty.
B. is the only one the consumer will consider.
C. reduces delivery costs.
D. facilitates purchasing.
E. creates brand dilution.
Answer:
A product that is in a high-growth market but has a low market share would be
classified as a ________ on the BCG matrix.
A. ladder
B. dog
C. cash cow
D. star
E. question mark
Answer:
At the BMW plant in Spartanburg, South Carolina, rather than use a typical
order-to-delivery process, it has suppliers deliver parts every four hours when the plant
is in operation. BMW uses a(n) ______ inventory control system.
A. cross-docking
B. lead time
C. just-in-time (JIT)
D. pick ticket
E. UPC
Answer:
Which element of the marketing mix is most relevant to the activity “delivering value”?
A. promotion
B. purchasing
C. product
D. price
E. place
Answer:
With access to the Internet nearly universal in the United States, many potential market
segments have become more
A. substantial.
B. perceptive.
C. identifiable.
D. reachable.
E. quantifiable.
Answer:
As a retail clothing store manager, Randy frequently asks his staff what customers are
saying and what they are asking for. He also attends the quarterly clothing show at the
regional merchandise mart. Randy’s efforts will likely help him
A. avoid cognitive dissonance.
B. implement just-in-time marketing promotions.
C. identify potential opportunities.
D. avoid the need to understand regional culture.
E. achieve cost savings.
Answer:
When Kelly began searching for a new car to replace her old, rusty one, she probably
relied on __________ sources of information.
A. interpersonal and sensual
B. compensatory and noncompensatory
C. ritual and spiritual
D. psychological and functional
E. internal and external
Answer:
Alan wants to upgrade his look before a job interview. A friend tells him about a men’s
clothing line that allows potential customers to virtually try on suits and see what looks
best. It even offers an interactive “custom fit” feature. After checking out his options,
Alan takes his measurements and orders a suit without ever leaving his office. Virtually
trying on a suit best describes which of the 4E framework objectives?
A. engage
B. energize
C. excite
D. experience
E. educate
Answer:
Gene’s Complete Cameras offers its customers an interactive website to help them
choose the best camera for their lifestyle. But the site’s most-used feature is its user blog
in which customersboth satisfied and unsatisfiedtalk about products they have
purchased and the service received at Gene’s. The user blog best describes which of the
4E frameworks for the store’s customers?
A. engage
B. energize
C. excite
D. experience
E. educate
Answer:
Many catalog companies create special-run issues based on what customers have
purchased in the past. For example, customers who frequently order bedding items like
sheets and pillows receive a catalog with a larger section of bedding items than do
customers who mostly order kitchen tools. This is an example of
A. C2C marketing.
B. customer relationship management.
C. a transactional marketing orientation.
D. supply chain management.
E. typical production-oriented era marketing practices.
Answer:
For an advertiser, the target audience can be understood as
A. consumers who currently use or like the product.
B. consumers who do not use the product.
C. consumers whom its research designates as its target market.
D. consumers who prefer the competitor’s product.
E. consumers who are unaware of the product.
Answer:
Which of the following is not one of the major trade agreements affecting global
marketing?
A. NAFTA
B. EU
C. GNI
D. ASEAN
E. CAFTA
Answer:
The contribution per unit is
A. price minus total costs.
B. price minus total variable cost.
C. price minus variable cost per unit.
D. total revenue minus total cost.
E. break-even quantity divided by total fixed costs.
Answer:
Monique was looking for a venue for her wedding reception. When she visited one
potential location, she noticed that the landscaping was not complete, and there was
stained carpet in the lobby. Which of the service quality building blocks caused
Monique to select an alternative venue?
A. tangibles
B. reliability
C. responsiveness
D. assurance
E. empathy
Answer:
When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda
and a few other manufacturers entered the market, shifting the product life cycle for
hybrid cars into the __________ stage of the product life cycle.
A. introduction
B. leveling
C. maturity
D. growth
E. decline
Answer:
To attract and maintain habitual purchasers, marketers spend considerable effort
A. analyzing consumer data for postpurchase dissonance signals.
B. creating strong brands and store loyalty.
C. cultivating cultural decision making.
D. reducing financial risk and increasing psychological payout.
E. offering alternative brands.
Answer:
Brett has developed a vitamin-enriched crouton in crazy colors that can be added to
children’s salads to make them more nutritious and fun. She’d like to ethically advertise
the product directly to the children, so she is examining
A. the complete FCC regulations.
B. the provisions of the Children’s Television Act of 1990.
C. the Better Business Bureau’s Children’s Advertising Review Unit guidelines.
D. the federal GAO regulations on advertising.
E. the Food and Drug Administration guidelines.
Answer:
Godiva Chocolates produces specially decorated boxes of candies for Valentine’s Day,
Easter, and Christmas. This is an example of ________ segmentation.
A. occasion
B. loyalty
C. geographic
D. psychographic
E. demographic
Answer:
A(n) __________ is a small group of people brought together for an intensive
discussion of a topic.
A. focus group
B. social media site
C. experiment
D. data mining session
E. in-depth interview
Answer:
Dynamic pricing is also referred to as _______ pricing.
A. complementary
B. substitution
C. break-even
D. target return
E. individualized
Answer:
Because of __________, many companies have altered their “no questions asked”
return policies to include time limits, “restocking” fees, and store-credit-only refunds.
A. government regulations
B. Better Business Bureau guidelines
C. high costs
D. accounting concerns
E. well-publicized liability cases
Answer:
After exchanging greetings and getting to know the customer a bit in an initial sales
call, the first goal of a sales presentation is to
A. close the sale.
B. offer alternatives.
C. estimate the total cost to the customer.
D. requalify the customer.
E. create interest.
Answer:
For each target market, General Imaging Corporation, a manufacturer of imaging
equipment, will engage in positioning, adjusting its marketing mix variables in order to
give customers
A. a more flexible supply chain strategy.
B. a perceptual map of the imaging landscape.
C. more product features than the competition offers.
D. lower prices than the competition offers.
E. a clear, distinctive, and desirable understanding of their products relative to
competing products.
Answer:
In the Circles for a Successful Value Proposition framework, the portion of the
customer needs/wants circle that doesn’t overlap with anything else represents
A. the firm’s value proposition.
B. competitors’ value propositions.
C. low-priority needs and wants that customers are willing to give up.
D. unmet customer needs/wants.
E. unknown customer needs/wants that the firm does not understand.
Answer:
Many universities provide physical or electronic bulletin boards to facilitate
ride-sharing and exchange of used books among students. These bulletin boards
increase __________ marketing.
A. B2C
B. C2B
C. B2B
D. C2C
E. underground
Answer:
Near the end of the model year, Move-Them-Out automobile dealership had an
unusually high inventory level. The manager increased her advertising spending and
gave extra incentives to its salespeople. Move-Them-Out operates as if it were in the
__________ era.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
Answer:
In determining the price for his company’s new pocket digital camera, Matt determines
what consumers consider the regular or original price for similar cameras available in
the market. Matt is assessing the influence of __________ on pricing strategy.
A. improvement value
B. odd-even prices
C. everyday low pricing
D. reference prices
E. cost of ownership
Answer:
In many high-end resort markets, Westin hotels compete directly with Crown Plaza
hotels. When it comes to pricing, Westin tends to charge its guests similar rates to what
the Crown Plaza hotels charge. Westin is using a _______ pricing strategy.
A. maximizing profits
B. target profit
C. target return
D. competitive parity
E. sales oriented
Answer:
NCD Company wants to expand into the Mexican market. It has the financial resources,
wants to control business operations, and has had considerable success marketing to
Hispanics in the United States. NCD will likely use __________ to expand into the
Mexican market.
A. franchising
B. exporting
C. a joint venture
D. direct investment
E. a strategic alliance
Answer:
Paul is considering psychographics as a way to segment the market for his small travel
agency. This approach to segmentation offers him an advantage because
A. it is based on underlying reasons why people make choices.
B. it is easier to use than demographics.
C. the travel business doesn’t respond well to other approaches to segmentation.
D. psychographics is the preferred method for service businesses.
E. psychographic segmentation is the least expensive method.
Answer: