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The consumer decision process model represents
A. the concept of habitual decision making.
B. the retrieval of an evoked set based on physiological needs.
C. the steps that consumers go through before, during, and after making purchases.
D. the shift from an internal to an external locus of control.
E. the types of decisions all consumers must make.
Answer:
Rock-Bend Company is considering buying out a competing firm and closing most of
the competitor's factories. The firm has identified the various stakeholders and their
issues and gathered the available data. Everyone with an interest in the issue has
engaged in brainstorming and evaluating alternatives. Management reviewed and
refined the alternatives, and then choose a course of action. If the managers are not
confident about the decision, they should
A. lower their offering price for the competing firm.
B. reexamine their alternatives.
C. consult customers.
D. trust their instincts and move forward.
E. choose the least risky option.
Answer:
Gloria is opening an upscale women's clothing store in a growing suburban residential
area. Gloria knows her target market is upper-income women living within 20 miles of
her store. She can't afford to purchase a PRIZM or Tapestry analysis, so she will most
likely use __________ as a basis for targeting her market.
A. voter registration lists
B. the city phone book
C. real estate values by subdivision
D. public school enrollment data
E. new construction data
Answer:
A key to successful marketing is determining how to meet the correct balance of
__________ needs that best appeals to the firm's target markets.
A. functional and social
B. postpurchase and prepurchase
C. safety and situational
D. psychological and physiological
E. functional and psychological
Answer:
A major disadvantage of primary data collection is
A. it can be accessed only through syndicated databases or unstructured data mines.
B. it cannot be tailored to meet specific research needs.
C. it takes more time to collect than secondary data and is more costly.
D. it is too general to meet researcher's and manager's needs.
E. it does not offer behavioral insights that can be obtained from secondary data.
Answer:
When a research team has gathered data for specific research needs, this is known as
A. primary data.
B. data mining.
C. secondary data.
D. data recovery.
E. data modeling.
Answer:
Bianca's discount home furnishings store is in a strip mall. She wants to know what
other businesses in the strip mall her customers visit when they come to her store. To
collect information for this objective, Bianca will most likely use
A. door-to-door surveys.
B. focus group interviews.
C. observation.
D. sales invoices.
E. census data.
Answer:
What is the problem associated with service quality standards such as "be nice" or "do
what the customers want"?
A. They create low expectations.
B. They are not specific.
C. They do not allow for the voice-of-customer process.
D. Most employees are unwilling to do what customers want.
E. They create a delivery gap.
Answer:
When pursuing a market development strategy, expanding into international markets is
generally
A. riskier than expansion in domestic markets.
B. impossible due to negative attitudes about American products.
C. executed with the help of international trade subsidies.
D. simplified by creating new products for export markets.
E. the only option offering substantial opportunities for growth.
Answer:
Which of the following best represents how marketing expands firms' global presence?
A. when companies hire employees from different backgrounds and cultures
B. when companies manufacture and sell their products all over the world
C. when companies see a product manufactured overseas and decide to produce it
domestically
D. when companies require their employees to learn a foreign language
E. when companies adhere to government restrictions in overseas markets
Answer:
Clark Manufactured Housing Company charges $500 for deliveries within 50 miles and
$800 for deliveries 51 to 100 miles away from their factory. The company is using a
_______ pricing tactic.
A. uniformed delivered
B. zone
C. cumulative
D. noncumulative
E. horizontal
Answer:
If you walk into a(n) __________, you will likely find a broad variety of merchandise,
deep assortment, and customer service, with everything divided into what appears to be
a collection of specialty shops.
A. department store
B. off-price retailer
C. discount store
D. specialty store
E. category specialist
Answer:
When Penguin Catering Services first opened, the owner decided to target only events
at resorts in its geographic region. Penguin Catering was using a(n) __________
targeting strategy.
A. concentrated
B. micromarketing
C. benefit-driven
D. differentiated
E. undifferentiated
Answer:
According to a typical demand curve, the higher the price,
A. the greater the income effect.
B. the lower the quantity consumers will buy.
C. the lower the output of producers.
D. the greater the production costs.
E. the lower the cross-price elasticity.
Answer:
Many home design businesses volunteer to provide their latest products for
tours-of-homes fundraisers because they know their new products will benefit from
A. relative advantage.
B. compatibility.
C. observability.
D. complexity.
E. trialability.
Answer:
Empowerment becomes more important when the service is
A. institutionalized.
B. repetitive.
C. individualized.
D. routine.
E. standardized.
Answer:
Consumers use and process different aspects of advertising or messages. __________
yields greater attention and deeper processing, and leads to strong attitudes and
purchase intentions.
A. An external locus of control
B. High involvement
C. Low involvement
D. Differential content
E. Internet advertising
Answer:
Which of the following is not a stage in the product life cycle?
A. introduction
B. growth
C. evaluation
D. maturity
E. decline
Answer:
If you are a marketer for a manufacturer, and the marketing mix for your product
focuses on very specific market segments, you'd like to sell your product through
A. department stores.
B. category specialist stores.
C. extreme value retailers.
D. specialty stores.
E. convenience stores.
Answer:
For marketers, one of the benefits of having achieved brand loyalty is
A. recognition through industry awards.
B. lower marketing costs associated with reaching loyal customers.
C. increased price sensitivity among loyal customers.
D. greater concern about competitors' actions.
E. few worries about copyright infringement.
Answer:
In which of the following tactics does a consumer pay a fee to purchase the right to use
a product for a specific amount of time?
A. lay-away
B. bait and switch
C. lease
D. bundling
E. rebate
Answer:
Which of the following is not one of the benefits to a firm of new product
development?
A. reducing the costs of production
B. satisfying the changing needs of current and new customers
C. avoiding market saturation from products that have been on the market for a long
time
D. creating diversification and reducing risk
E. keeping up in a market with short product life cycles where sales come mostly from
new products
Answer:
The percentage of a customer's purchases made from a particular retailer is referred to
as
A. share of wallet.
B. share of market.
C. customer loyalty.
D. customer relationship management.
E. customer value ratio.
Answer:
Hisaoki picks up the local newspaper and reads a stinging letter to the editor criticizing
his beverage company for supporting a sporting event for children with disabilities. The
letter writer is critical of a banner displayed at the event, with the logos of alcoholic
beverages and Hisaoki's company name. Hisaoki never considered that this problem
might arise. In the framework for ethical decision making, Hisaoki's company failed to
A. identify issues.
B. promote the firm's corporate social responsibility efforts.
C. analyze the needs of the industry.
D. brainstorm and evaluate alternatives.
E. choose a course of action.
Answer:
Which statement about India's population is true?
A. With a median age of 61, India has one of the oldest populations in the world.
B. India's young people mostly live in rural areas in large families.
C. India's workforce is highly skilled, particularly in technology.
D. India claims more than 25 percent of the world's population.
E. Most Indian citizens shop in large retail outlets.
Answer:
If a cable television company had 100 million subscribers at the end of the year, and 2
million of its subscribers left its service, it would have a churn rate of
A. 1 percent.
B. 2 percent.
C. 5 percent.
D. 10 percent.
E. 20 percent.
Answer:
The additional sales that can be attributed to an advertising campaign are known as
A. payload.
B. impact.
C. lift.
D. the campaign increment.
E. ROI.
Answer:
Melanie works for a small computer software company. Her boss is constantly
improving the company's products but neglects customers, billing, and promoting the
company. Her boss is probably stuck in the __________ era of marketing.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
Answer:
The attitudes that Ryan's customers develop after they have purchased his yearly lawn
care service will become the basis for determining whether or not they renew each year.
He needs to convey ____________, delivering the right services the right way.
A. reliability
B. responsiveness
C. assurance
D. empathy
E. tangibles
Answer:
A(n) __________ is a supply chain whose members act like a unified system.
A. vertical marketing system
B. independent marketing system
C. concentrated marketing system
D. conventional marketing system
E. strategic marketing system
Answer:
Ryan wants to sell personal website services to American soldiers in Afghanistan.
Because of the difficulty of communicating with people in a war zone, Ryan may have
trouble with this segment not being
A. substantial.
B. perceptive.
C. identifiable.
D. reachable.
E. quantifiable.
Answer:
According to your text, _______ packaging is product packaging that is ecologically
responsible.
A. recycled
B. environmental
C. responsible
D. sustainable
E. green
Answer:
Social networking sites that compete directly with Facebook have a difficult time
surviving; however, LinkedIn has survived by focusing on the needs of business
professionals, who seek to network with colleagues, share their expertise, post online
rsums, and look for new jobs. What segmentation method is LinkedIn using?
A. loyalty segmentation
B. benefit segmentation
C. psychographic segmentation
D. geodemographic segmentation
E. demographic segmentation
Answer:
