SBUs with a high share of high-growth markets that may not generate enough cash to
support their own demanding needs for future growth are referred to as __________.
a. dogs
b. cash cows
c. question marks
d. stars
e. hedgehogs
Answer:
UGG Australia built a strong reputation among women with its high quality sheepskin
boots. The firm is now attempting to attract men with new products. To reach them,
UGG is
a. offering its existing women customers a “Buy 1 Pair, Get 1 Free” deal on its lines of
men’s boots.
b. using New England Patriots quarterback Tom Brady as a spokesperson.
c. using product placements in TV programs, such as Two and a Half Men and ESPN’s
SportsNation, that men primarily watch.
d. outfitting players of the Australian Football (rugby) League.
e. targeting skate boarders and snow boarders with its “Be Stupid” campaign.
Answer:
The ratio of perceived benefits to __________ is referred to as value.
a. price
b. prestige
c. perceived quality
d. profits
e. perceived costs
Answer:
Marketing drivers are used with which of the four Ps?
a. product, price, place only
b. product, promotion, people only
c. product features only
d. product and price features only
e. product, promotion, price, and place inclusively
Answer:
Which of the following statements about personality is most accurate?
a. Personality is dynamic and changes several times as a person matures.
b. Most personality traits are inherited or formed at an early age through socialization.
c. Personality is the energizing force that makes consumer behavior purposeful.
d. Most personality traits are formed during adulthood and can change during one’s
lifetime.
e. People with compliant personalities prefer lesser known brand names.
Answer:
Figure 1.
Figure 1. above depicts the four most common marketing channels for business
products and services. Channel “A” would be an appropriate marketing channel for
__________.
a. Boeing aircraft
b. Caterpillar lift trucks
c. John Deer tractors
d. fencing systems
e. electrical products
Answer:
Figure 1.
According to Figure 1. above, approximately what percentage of businesses use e-mail
as a direct marketing tool?
a. less than 10 percent
b. 35 percent
c. 50 percent
d. 70 percent
e. over 90 percent
Answer:
A marketing manager at Ford computed the promotion-to-sales ratio for Ford, GM, and
the auto industry itself. She found that Ford’s ratio was 2.8 percent, GM’s ratio was 4.5
percent, and the auto industry average was 3.2 percent. She then realized
a. she had better find a new job as she had been responsible for these results.
b. she needed to explain these numbers to her boss, especially in relation to the industry.
c. GM shortly would be taking market share from Ford.
d. she spent her promotional dollars effectively.
e. she wasn”t the marketer she thought she was.
Answer:
List seven organizational buying criteria.
Answer:
Statements of an accomplishment of a task to be achieved, often by a specific time are
referred to as __________.
a. plans
b. procedures
c. strategies
d. goals
e. visions
Answer:
Figure 1.a
In Figure 1.a above, as the number of buyers increases, the price
a. increases.
b. decreases.
c. stays the same.
d. has no relation to the number of buyers.
e. fluctuates depending on economic conditions.
Answer:
Designing a car is expensive and time-consuming even with the use of computers
because until recently, there was no way for all the varied departments that are involved
in new car development to work together. Mercedes-Benz created a unique central
web-based system that cuts the design and production process by at least two years,
thus providing customer value. This is an example of a(n)
a. point of difference.
b. innovation-oriented mission.
c. action program.
d. operational goal implementation.
e. competency.
Answer:
Got Milk? Ad
The “Got Milk?” ad shown above is an example of which type of advertising?
a. reminder institutional
b. competitive institutional
c. pioneering institutional
d. product advocacy
e. product differentiation
Answer:
Adaptive selling refers to a presentation format that __________.
a. emphasizes probing and listening by the salesperson to identify the needs and
interests of prospective buyers
b. focuses on problem identification, in which the salesperson serves as an expert on
problem recognition and resolution
c. consists of information that must be provided in an accurate, thorough, and
step-by-step manner to inform the prospect
d. assumes that given the appropriate stimulus by a salesperson, the prospect will buy
e. involves adjusting the presentation to fit the selling situation, such as knowing when
to offer solutions and when to ask for more information
Answer:
Figure 1.
In Figure 1. above, “A” represents the “why” element of visionary organization. This is
referred to as __________.
a. organizational foundation
b. organizational tactics
c. organizational mission
d. organizational direction
e. organizational strategies
Answer:
One of the tools Google is using to pursue its goal of increasing its display advertising
business is called __________.
a. AdPage
b. AdSense
c. AdRank
d. AdWords
e. AdSnap
Answer:
A firm’s profit equation equals
a. Total cost + Total revenue or [(Unit price × Quantity sold) − (Fixed cost + Variable
cost)].
b. Total revenue − Total cost or [(Unit price × Quantity sold) − (Fixed cost + Variable
cost)].
c. Total cost − Marginal cost or [(Fixed cost + Variable cost) ÷ (Unit price × Quantity
sold)].
d. Total cost − Variable cost or [(Fixed cost + Variable cost) + (Unit price × Quantity
sold)].
e. Total revenue + Total cost or [(Unit price × Quantity sold) − (Fixed cost + Variable
cost)].
Answer:
Bribery is most likely to occur when
a. industries experience little competition.
b. the country has reached a high level of economic development.
c. industries are high-tech in nature.
d. industries operate in an oligarchic competitive environment.
e. industries experience intense competition.
Answer:
Which of the following statements best describes what has happened to U.S. exports
versus imports over the last 30 years?
a. No accurate data have been made available from the WTO for trade imports and
exports.
b. The volume of imports and exports has consistently decreased.
c. U.S. imports and U.S. exports have been about equal, indicating balanced trade.
d. U.S. exports have exceeded U.S. imports, indicating a continuing trade surplus.
e. The volume of both U.S. exports and U.S. imports has increased significantly.
Answer:
A(n) __________ is a legal entity of people who share a common mission.
a. department
b. organization
c. SBU
d. industry
e. market segment
Answer:
A metropolitan statistical area refers to
a. a statistical area that has at least one urban cluster of at least 10,000 but less than
50,000 people and adjacent territory that has a high degree of social and economic
integration.
b. a statistical area of 2.5 million people or more.
c. a cluster of exurbs that function as a single unit due to the proximity of their
geographic locations to an urbanized area.
d. a highly urbanized area with a centrally located population of at least 1,000,000
people.
e. a statistical area of at least one urbanized area of 50,000 or more people and adjacent
territory that has a high degree of social and economic integration.
Answer:
Figure 1.
Consider Figure 1. above. A Florida-based flashlight company has been extremely
successful due in part to the number of hurricanes in Florida that result in a loss of
power. The firm is thinking of expanding its product offerings to include other
emergency supplies such as generators and survival kits. Before going ahead with this
decision, there were several factors that had to be taken into consideration: (1) The firm
has a great reputation with its flashlights and doesn”t want to ruin it. (2) Its physical
plant could be refitted relatively easily to make small generators, but it would be rather
costly. (3) It would have to rely on another firm to manufacture and package the
survival kits. (4) Although there are nine named hurricanes scheduled for the upcoming
year, no one really can predict what will happen. The need to rely on another company
to supply the survival kits would fall in which quadrant(s) of the SWOT analysis grid?
a. “A”
b. “B”
c. “C”
d. “D”
e. “C” and “D”
Answer:
The Apple iPhone was introduced at an initial price of $600. People waited in line
overnight so they could be one of the first to own this unique smartphone. Which
pricing strategy did Apple use to help recoup its research and development costs for the
smartphone?
a. penetration pricing
b. experience curve pricing
c. customary pricing
d. skimming pricing
e. target pricing
Answer:
When Mulcahy became CEO, Xerox began a shift to a __________ that focused on
helping customers solve their business problems rather than just placing more
equipment in their office.
a. multi-tiered sales system
b. salesforce automation system
c. product-oriented sales organization
d. geographic-oriented sales organization
e. consultative selling model
Answer:
A food warehouse store got a very good buy on a brand of frozen orange juice and,
rather than maintain it as extra inventory, needs to sell it quickly to consumers. Which
promotional element should be used?
a. advertising
b. personal selling
c. publicity
d. sales promotion
e. direct marketing
Answer:
The word flow as it relates to the definition of logistics management refers to decisions
needed to move
a. raw materials to the producer.
b. semi-finished materials to a merchant wholesaler.
c. finished products to the distributor.
d. finished products directly from the producer to the retailer.
e. a product from the source of raw materials to consumption.
Answer:
A small film company is releasing a documentary about the efforts of a group dedicated
to saving endangered species. However, the firm has little resources to promote the
film. Which promotional element should it employ?
a. Hire a salesperson to speak to environmental groups.
b. Ask local radio and television stations to run a favorable story about the film.
c. Advertise on billboards in each local market.
d. Invite students to participate in a contest to win free tickets.
e. Send postcards to all people within a 25-mile radius of a theater showing the movie
Answer:
A collection of databases that store, organize, and manage data sources is called a
_________.
a. data vault
b. data warehouse
c. data depot
d. data storehouse
e. data stockroom
Answer:
Discretionary income refers to
a. the money deducted from a person’s paycheck to pay for federal, state, and local
taxes.
b. the total amount of money made by a single individual in his or her lifetime.
c. the money a consumer has left after paying taxes to use for necessities such as food,
shelter, clothing, and transportation.
d. the money that remains after paying for taxes and necessities.
e. the money that is spent for necessities or charitable causes that is exempt from
taxation.
Answer:
Recipco and Tradaq are both companies that connect international companies who want
to barter the products they make for the products they need without using cash or credit.
Recipco and Tradaq assist international companies in making
a. countertrades.
b. quota exchanges.
c. trading exchanges.
d. balances of trade.
e. WTO trade arrangements.
Answer:
When choosing a marketing channel or intermediary, it is important to ask three key
questions: (1) Which channel and intermediaries will provide the best coverage of the
target market? (2) Which channel and intermediaries will best satisfy the buying
requirements of the target market? and (3)
a. How many of the firm’s competitors will be using the same channels?
b. Which channels have strategic channel alliances with other resellers?
c. How long have the channel members and intermediaries been in business?
d. Who is responsible for negotiating the channel or intermediary contracts?
e. Which channel and intermediaries will be the most profitable?
Answer:
Which salesforce organizational structure is the simplest?
a. profit
b. customer
c. product
d. market
e. geographical
Answer: