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The most indirect channel for consumer products incorporates agents, wholesalers, and
retailers and is most commonly used when there
A. are only a few large manufacturers but many small retailers.
B. are low-cost, low unit volume goods.
C. is too large an inventory to be carried by wholesalers.
D. are many small manufacturers and many small retailers.
E. are many manufacturers with a limited inventory competing for a small group of
retailers.
Answer:
Four factors are required for marketing to occur: (1) __________; (2) a desire and
ability of parties to be satisfied; (3) a way for the parties to communicate; and (4)
something to exchange.
A. a healthy competitive environment
B. an affordable and actionable advertising campaign
C. a sense of social responsibility
D. an ability to see hidden potential within an environmental force
E. two or more parties (individuals or organizations) with unsatisfied needs
Answer:
Figure 16-1
Based on the social media identified in Figure 16-1 above, a site that has elaborate
visuals, graphics, and animation but where the users disclose very little personal
information about themselves or their feelings would most likely be located in which
cell of the chart?
A. upper left
B. upper right
C. lower center
D. lower right
E. lower left
Answer:
Which of the following statements is FALSE about attitudes?
A. Marketers are primarily concerned with American core values when developing
advertising messages.
B. Attitudes are learned.
C. Attitudes are shaped by one's values and beliefs.
D. An attitude results in responses that are consistently favorable or unfavorable way.
E. Personal values affect attitudes by influencing the importance assigned to specific
product attributes.
Answer:
The __________ stage of the product life cycle occurs when a product is launched to its
intended target market.
A. concept
B. introduction
C. growth
D. maturity
E. decline
Answer:
Which of the following statements about African American buying patterns is most
accurate?
A. There are very few differences in the consumption patterns of African Americans
and Caucasians.
B. African American men spend more on health and beauty products than Caucasian
men do.
C. The typical African American family is five years older than the typical Caucasian
family.
D. African American purchase behavior is still affected by the historical deprivation in
employment and educational opportunities in the United States.
E. African Americans are not price conscious.
Answer:
Which of the following statements about the introduction stage of the product life cycle
is most accurate?
A. It is preferable stimulate selective demand rather than focus on primary demand.
B. During the introduction stage, it is best to avoid a skimming pricing strategy.
C. During the introduction stage, it is best to avoid a penetration pricing strategy.
D. A firm should introduce the identical product at several different price points in order
to gauge customer price sensitivity.
E. Because of large initial investment costs, industry profits often are initially negative.
Answer:
What is the marketing term for people, whether they are 80 years or 8 months old, who
use products and services purchased for a household?
A. ultimate consumers
B. situational buyers
C. primary buyers
D. a target market
E. household prospects
Answer:
Mixed branding refers to a branding strategy in which a firm __________.
A. gives each product a distinct name when each brand is intended for a different
market segment
B. uses different brand names for the same product across multiple countries
C. uses one name for all its products in a product class
D. produces products but sell them under the brand name of a wholesaler or retailer
E. markets some products under its own name(s) and other products under the name of
a reseller because the segment attracted to the reseller is different from its own market
Answer:
Which of the following statements should a salesperson use as a denial response to a
prospect's objection?
A. "I think I might be able to explain that better to you after showing you this diagram."
B. "Yes, you're right, it is lighter but that is done intentionally to make your work
easier."
C. "That's true. It does have a shorter shelf life, but that really hasn't been a problem. It
is so popular it never stays on the shelf that long anyway."
D. "Where did you hear that? Your source must have erroneous information."
E. "As I was saying, ."
Answer:
To help differentiate a company's brand from competitors, an improved version is
created, or new features are added to the original design, and product proliferation
occurs in the __________ stage of the product life cycle.
A. introduction
B. maturity
C. decline
D. growth
E. harvest
Answer:
Among business products, support products include installations such as
A. convenience products.
B. buildings and fixed equipment.
C. tools and office equipment.
D. raw materials and component parts.
E. maintenance, repair, and legal services.
Answer:
Adding a fixed percentage to the cost of all items in a specific product class is referred
to as
A. target profit pricing.
B. standard markup pricing.
C. target return-on-investment pricing.
D. customary pricing.
E. everyday low pricing.
Answer:
The Latin phrase caveat emptor is a legal concept that translates as
A. Cash on delivery.
B. Let the buyer beware.
C. Let's make a deal.
D. Be informed.
E. Such is life.
Answer:
An example of a marketer-dominated source of information consulted during an
external search would include
A. previous ownership of a product.
B. a Better Business Bureau rating.
C. a product display in a retail store.
D. a consumer program on talk radio.
E. your mother.
Answer:
Lands' End Ad
Consider the Lands' End ad above. Lands' End communicates a remarkable
commitment to its __________ with these unconditional words: "We accept any return,
for any reason. Guaranteed. Period."
A. competitive advantage
B. core values
C. core benefit proposition
D. customers
E. mission statement
Answer:
Figure 7-1
According to Figure 7-1 above, implementing marketing actions occurs during which
step of the five-step marketing research approach?
A. A
B. B
C. C
D. D
E. E
Answer:
A __________ 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.
A. supplier development agreement
B. reciprocal arrangement
C. shareholder relationship
D. supply partnership
E. strategic alliance
Answer:
There are six commonly used techniques to deal with objections: acknowledge and
convert the objection; postpone; agree and neutralize; accept the objection; denial; and
__________.
A. redirect the conversation
B. ignore the objection
C. probe by asking additional questions
D. defer to a supervisor
E. distract by identifying competitor shortcomings
Answer:
A product line refers to
A. a product and all its ancillary services (warranties, financing, etc.).
B. the variations within a product class.
C. a specific product SKU that has a unique brand, size, or price.
D. a group of product or service items that are closely related because they satisfy a
class of needs, are used together, are sold to the same customer group, are distributed
through the same types of outlets, or fall within a given price range.
E. the entire product category or industry.
Answer:
Retailers and direct selling firms have found that their websites, while cannibalizing
sales volume from stores, catalogs, and sales representatives, attract new customers and
influence sales. When Victoria's Secret, the well-known retailer of intimate apparel for
women ages 18 to 45 created its website, it reported that __________ of its website
customers are __________, most of whom generate new sales volume for the company.
A. 50 percent; women between the ages of 45 and 65
B. 40 percent; teenagers from 13 to 17
C. 30 percent; mature women 50 years and older
D. 25 percent; customers from rural communities
E. 60 percent; men
Answer:
"HowAboutWe is the fastest, easiest, most fun way to go on awesome dates" is the
__________ for the online dating service that focuses on setting up actual activities as
dates for its users.
A. sustainability doctrine
B. core benefit proposition
C. corporate philosophy
D. mission statement
E. code of ethics
Answer:
Which type of consumer product is purchased relatively infrequently and the purchase
decision takes some time because the consumer compares offerings during the shopping
experience?
A. convenience product
B. shopping product
C. specialty product
D. unsought product
E. discretionary product
Answer:
Approximately what percentage of U.S. households has an annual income between
$25,000 and $99,999?
A. 13%
B. 28%
C. 37%
D. 42%
E. 54%
Answer:
Because its customers desire rapid delivery and a wide variety of customizable
products, Dell made a conscious decision to use a(n) __________ supply chain to meet
these requirements.
A. integrated
B. efficient
C. harmonized
D. responsive
E. multi-tiered
Answer:
Starch Test Image
The Starch test determines the percentage who: (1) remember seeing a specific
magazine ad, (2) __________, (3) read any part of the ad, and (4) read at least half of
the ad.
A. felt the ad was vague or ambiguous
B. saw or read any part of the ad identifying the product or brand
C. felt elements of the ad were inappropriate
D. could summarize the key ad points in their own words
E. remembered having seen the ad before and had already tried the product
Answer:
Wrigley's new Alert Energy Caffeine Gum "offers a portable solution that lets adults
control their caffeine intake." This new gum is most likely which type of innovation?
A. continuous innovation
B. dynamically continuous innovation
C. discontinuous innovation
D. insignificant innovation
E. disruptive innovation
Answer:
Today, there are two popular variations of sweepstakes: (1) one that offers products that
consumers value as the prize and (2) one that offers __________.
A. double or triple the face value of a coupon as the prize
B. a free sample of the firm's product as the prize
C. an "experience" as the prize
D. a cash rebate for the purchase of the firm's product as the prize
E. a BOGO deal as the prize
Answer:
Which of the following statements about marketing activities is most accurate?
A. Marketing is affected by society but rarely, if ever, affects society as a whole.
B. The marketing department works closely with other departments and employees to
implement an organization's marketing activities.
C. Marketing activities are the sole responsibility of the marketing department; other
departments are involved only if there is an emergency (such as a product recall).
D. Environmental forces do not affect marketing activities as long as a firm closely
monitors its environment through rigorous market research.
E. Marketing is essentially developing the right product and convincing potential
customers that they "need" it, not just "want" it.
Answer:
In the automobile industry, the __________ manager is responsible for translating
customer requirements into actual orders and arranging for delivery dates.
A. marketing
B. information technology
C. intermodal
D. supply chain
E. financial
Answer:
According to the textbook, which of the following firms is in the development stage of
the new-product process for a driverless car?
A. Honda
B. Apple
C. Google
D. Ford
E. General Motors
Answer:
There are factors other than price that affect demand. What are they and how do they
work?
Answer:
Give an example of how each of the five environmental forces can impact an
organization's marketing environment.
Answer:
Why are vending machine prices often higher than those in a retail store?
Answer:
List two advantages and two disadvantages of using each of the following for
advertising: television, radio, magazines, and newspapers.
Answer:
Explain the difference between order takers and order getters.
Answer:
Why would an organization produce multiple products or services and then attempt to
sell them to two or more market segments?
Answer:
Figure 4-1
Identify and explain the five stages of the consumer purchase decision process as shown
in A, B, C, D, and E in Figure 4-1 above.
Answer:
Describe the pricing constraints a firm is likely to face.
Answer:
What is multiproduct branding? What are its advantages? Disadvantages?
Answer:
Explain predatory pricing.
Answer:
Figure 2-1
Using Figure 2-1 above, identify and briefly describe the five levels in a hierarchical
organizational structure, including the three that are strategic in nature.
Answer:
Why is the family life cycle important to marketing?
Answer:
What is the marketspace?
Answer:
Define the marketing concept.
Answer:
Differentiate between traditional and reverse auctions.
Answer:
The movie The Hunger Games opened originally in a select number of theaters before
opening nationwide. After its theater run, it was shown on pay-per-view channels and
then on premium movie channels. The movie also was made widely available in video
stores, via Netflix, and on DVD/Blue-ray. What type(s) of consumer product is this
movie? Explain your answer.
Answer:
