_____ are trade alliances in which several countries agree to work together to form a
common trade area that enhances trade opportunities among those countries.
a. Exchange controls
b. Market groupings
c. Joint ventures
d. Direct foreign investments
Answer:
In 2008, the NBC television network used marketing tools such as advertising, personal
selling, public relations, and sales promotion to communicate with its target audience
about its new reality show. The television network’s _____ described its plan on how to
use these tools most effectively.
a. competitive advantage
b. promotional strategy
c. selling plan
d. pull strategy
Answer:
Which of the following is true of an express warranty?
a. It gives the impression of environmental friendliness to a product.
b. It contains an unwritten guarantee about the performance of a product.
c. It prohibits other firms from using a brand or part of a brand without permission.
d. It ranges from simple statements to extensive documents written in technical
language.
Answer:
A firm using the market penetration strategy would try to attract new customers to
existing products.
a. True
b. False
Answer:
Jeni’s Splendid Ice Creams has decided to put its new Beet Cake with Black Walnut ice
cream on the market. This product has entered the _____ stage of new-product
development process.
a. business analysis
b. development
c. test marketing
d. commercialization
Answer:
Which of the following is true of consumer markets?
a. They deal with products or services that are meant for personal use.
b. They do not sell goods that are sold in business markets.
c. They exceed business markets by size in most countries.
d. They focus primarily on facilitating an organization’s operations.
Answer:
A decline in the availability of bicycle handle bars will decrease Huffy Bicycle
Company’s production of bicycles. This decreased production in turn will reduce
Huffy’s demand for bicycle seats. This scenario illustrates_____ demand.
a. inelastic
b. joint
c. elastic
d. fluctuating
Answer:
Which of the following is true of conventional morality?
a. It is the most basic level of ethical development.
b. It is the most advanced level of ethical development.
c. It is predominantly characterized by egocentrism.
d. It involves an emphasis on the expectations of society.
Answer:
In the context of the product characteristics that can be used to predict and explain the
rate of acceptance and diffusion, _____ represents the degree of difficulty involved in
understanding and using a new product.
a. complexity
b. compatibility
c. observability
d. trialability
Answer:
The notion of competitive advantage means that:
a. a successful firm will stake out a position unique in some manner from its rivals.
b. the advantage can be enjoyed only for a short period.
c. a company manufactures products which are similar to those of its competitors.
d. an established firm focuses solely on developing a low-price competitive advantage.
Answer:
Stephen can file a complaint against an electronics retailer for incessantly sending him
e-mails promoting their company’s products under the _____.
a. Sarbanes Oxley Act
b. Child Protection Act
c. Children’s Online Privacy Protection Act
d. CAN-SPAM Act
Answer:
A _____ is the general level at which a company expects to sell a good or service.
a. functional price
b. base price
c. premium price
d. mark-up price
Answer:
Which of the following is a similarity between the psychological factors motivation and
learning?
a. They can be explained by Maslow’s hierarchy of needs.
b. They are social factors that have an impact on the consumer decision-making
process.
c. They can be affected by a person’s environment because they are applied on specific
occasions.
d. They are influenced by personal characteristics, such as gender and age.
Answer:
Which of the following is true of an unsought product?
a. Marketers of unsought products often use selective, status-conscious advertising to
maintain the product’s exclusive image.
b. Consumers buy unsought products regularly, usually without much planning.
c. New products are categorized as unsought products until advertising and distribution
increase consumer awareness of them.
d. Consumers usually buy an unsought product only after comparing several brands or
stores on style, practicality, price, and lifestyle compatibility.
Answer:
A market segment is a group of individuals or organizations who share one or more
characteristics.
a. True
b. False
Answer:
Jetsetter Airlines plans to introduce special meals on their flights during holiday
seasons. It begins to gather all the relevant information for implementing the plan. It
uses information available in its database to determine the number of flights flown and
the number of passengers who flew with them during the previous year’s holiday
seasons. In this case, which of the following types of data is collected by Jetsetter
Airlines?
a. Qualitative data
b. Raw data
c. Secondary data
d. Primary data
Answer:
Price matching is one of the ways to counter a competitor’s prices.
a. True
b. False
Answer:
In rule utilitarianism, a person performs the acts that benefit the most people, regardless
of personal feelings or societal constraints such as laws.
a. True
b. False
Answer:
Which of the following types of advertisements is likely to be more successful in
transforming a person’s negative attitude toward a product into a positive one?
a. Advertisements aimed at changing the person’s deep-rooted values
b. Advertisements emphasizing luxury
c. Humorous advertisements
d. Dramatic advertisements
Answer:
_____ segmentation refers to segmenting markets by region of a country or the world,
market size, market density, or climate.
a. Geographic
b. Benefit
c. Demographic
d. Usage-rate
Answer:
A price skimming strategy is most often used for a new product when:
a. competition in the market is abundant.
b. customers are unwilling to spend a large amount of money on the product.
c. its supply is greater than its demand.
d. the product is perceived as having unique advantages.
Answer:
Internal marketing is more important for goods manufacturers than service firms.
a. True
b. False
Answer:
Business Essentials is a support group that consists mostly of young women who offer
tips on budgeting and debt relief. Their goal is to help women break financial ceilings.
Business Essentials is providing a(n) _____ that is helpful to women who want to be
financially savvy.
a. asset
b. tangible product
c. service
d. tangible resource
Answer:
Each product item in the product mix always requires a separate marketing strategy.
a. True
b. False
Answer:
When Avril wanted to purchase a birthday card for her husband, she went to three stores
and spent two hours reading over 100 cards before selecting the perfect one. This card,
which costs $3.25, is properly designated as a high-involvement product because of
_____ involvement.
a. product
b. situational
c. shopping
d. enduring
Answer:
In the context of individual influences on consumer buying decisions, personal
characteristics are generally stable over the course of one’s life.
a. True
b. False
Answer:
Although Asian Americans embrace the values of the larger U.S. population, they also
hold on to the cultural values of their particular subgroup.
a. True
b. False
Answer:
Hydralicious, a juice outlet, had to stop its business as health inspectors found that the
storage facilities at the outlet were not hygienic as per standards set by the government.
A _____ factor affected Hydralicious in this scenario.
a. social
b. economic
c. legal
d. cultural
Answer:
The National Pork Board of the United States wants to create more consumer demand
for pork products. The board decides on how to use advertising, public relations,
personal selling, sales promotion, and social media to create a coordinated plan that will
become an integral part of the its marketing functions. Thus, the board is developing a
_____.
a. promotional strategy
b. tactic for communication
c. mass aggregation strategy
d. competitive advantage
Answer:
Marketing managers use experiential marketing as a means of developing public
relations.
a. True
b. False
Answer:
Which of the following actions can enable companies to gain a cost competitive
advantage?
a. Removing frills from products
b. Increasing marginal customers
c. Eliminating reverse engineering efforts
d. Developing additional exclusive functional departments
Answer:
_____ is the ultimate goal of a new trend in marketing that focuses on understanding
consumers as individuals instead of as part of a group.
a. Organizational optimization
b. Profit maximization
c. Total quality management (TQM)
d. Customer relationship management (CRM)
Answer:
A _____ is a price reduction offered to a consumer, an industrial user, or a marketing
intermediary in return for prompt payment of a bill.
a. cash discount
b. quantity discount
c. functional discount
d. seasonal discount
Answer:
M-commerce enables consumers using wireless mobile devices to connect to the
Internet and shop.
a. True
b. False
Answer:
Which of the following statements is true about cause-related marketing?
a. Any marketing effort for social or other charitable causes can be referred to as
cause-related marketing.
b. Cause-related marketing is a marketing relationship based on a straight donation.
c. Cause-related marketing occurs when government agencies and nonprofit agencies
launch social campaigns.
d. Cause-related marketing seldom helps companies increase the sales of their products.
Answer:
A(n)__________refers to the originator of a trade name, product, methods of operation,
and the like that grants operating rights to another party to sell its product.
Answer:
A manufacturer using the__________promotional strategy focuses its promotional
efforts on end consumers.
Answer:
A company’s__________includes all of the companies involved in all of the upstream
and downstream flows of products, services, finances, and information, from initial
suppliers to the ultimate consumer.
Answer:
When the price of a product is set at a level where demand and supply are the same, a
state of__________has been achieved.
Answer:
Irving Inc., an apparel company, decides to expand operations to several countries
around the world. However, it fails to take into account the various styles of clothing
that are deemed acceptable in these countries. It sells the same clothes that it sells in its
home country to the other countries. As a result, it suffers a major loss. In this scenario,
Irving Inc. failed to be sensitive to the__________of the countries.
Answer:
When an economy is characterized by high inflation, special pricing tactics are often
necessary. One popular cost-oriented tactic is culling low-profit margin products from a
product line. Explain why this tactic might backfire, and describe the other two
cost-oriented tactics that can be used instead.
Answer:
Marketing managers often use in-store promotions to stimulate the sales of products for
which consumers may not recognize their wants until they are in a store. Such products
can be categorized as__________products.
Answer:
In the context of the product characteristics that can be used to predict and explain the
rate of acceptance and diffusion,__________represents the degree of difficulty involved
in understanding and using a new product.
Answer:
Discuss six approaches that are used by companies now to stimulate innovation.
Answer:
The business analysis stage of a new-product development process__________.
Answer:
Andrea booked a trip to an exotic island as a gift to her husband, Bill, for their tenth
wedding anniversary. Andrea is anxious because she is afraid Bill will not like her
choice of location. She is also worried as she spent too much money for the trip. In this
scenario, Andrea is experiencing__________.
Answer:
__________means persuading customers to buy a higher-priced item than they
originally intend to purchase.
Answer:
Nutritreat Industries Corp. is a manufacturer of food products. The company introduced
chocolate cookies to the local market. After a period of initial success, the product lost
its market and Nutritreat decided to withdraw chocolate cookies from the market. This
scenario is an example of the__________stage of a product life cycle.
Answer:
Discuss the factors that make marketing objectives effective.
Answer:
Nutri Star Corp. is a large food manufacturing corporation which is more profitable that
its competitors. The company uses only organically grown grains and fruits. Nutri Star
also promotes organic farming and helps nonprofit agencies who focus food and
nutrition causes. The company has now decided launch a campaign that aimed at
promoting healthy eating habits among youth. Nutri Star is most likely to have adopted
the concept of__________.
Answer:
Explain the differences between the maturity stage and growth stage in the product life
cycle.
Answer:
In the context of marketing planning,__________provides the mechanisms for
evaluating marketing results in light of the plan’s objectives, and for correcting actions
that do not help the organization reach those objectives within budget guidelines.
Answer:
How does gender have an influence on a person’s buying decisions? Give an example.
Answer:
What is automated e-mail follow-up marketing? How does it work?
Answer: