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Serena studies her customer profiles, market research data, complaints, and other
information, attempting to better understand what her customers want. Serena most
likely operates in the __________ era of marketing.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
Answer:
Which of the following is not one of the important functions of labels on products and
packages?
A. protecting against damage to the product
B. providing consumer information to assist in purchasing
C. identifying the brand and building brand image
D. promoting the brand or complementary brands
E. listing the ingredients
Answer:
Food preparation, lawn maintenance, and housecleaning services are all examples of
A. services shifted abroad because costs are lower in developing countries.
B. services an aging population will decrease the demand for.
C. household maintenance activities that people increasingly pay others to perform.
D. the price elasticity effect on services demand.
E. the ability of empowerment to create tangible service products.
Answer:
Explain the concept of outsourcing product development, and give an example of when
this would be a good idea.
Answer:
An organization's culture reflects the __________ that guide(s) its employees' behavior.
A. B2C dynamics
B. RFP process
C. buying center philosophy
D. set of values, traditions, and customs
E. derived set of influences
Answer:
Peter wanted an unbiased source of information to help him decide what brand of
appliances to buy for his new condominium. Peter would most likely search for
information from
A. the Sears catalog.
B. the Consumer Reports website.
C. the local Better Business Bureau.
D. the website for Best Buy (an electronics retail chain).
E. Psychology Today magazine.
Answer:
Like any effective salesperson, Tiffany walks into a customer's office, shakes hands,
looks the customer in the eye, and smiles. After exchanging pleasantries, Tiffany will
try to create interest in her company's product. Tiffany will likely __________ to adapt
or customize her presentation to match the customer's needs.
A. use a hypothetical situation
B. ask a series of questions
C. examine the customer's office
D. make a variety of assumptions
E. refer to past sales
Answer:
Yolanda asked her firm's advertising agency to estimate how often consumers saw her
firm's IMC message and what percentage of the target audience was exposed to the
message. Yolanda is asking for __________ data.
A. parity and affordability
B. sales and promotion
C. attitude change
D. rule-of-thumb
E. frequency and reach
Answer:
Which of the following statements is not one of the guidelines provided by the
American Marketing Association for conducting marketing research?
A. Personal information about research participants should not be shared, except with a
designated member of senior management.
B. Selling or fundraising should not be conducted under the guise of conducting
research.
C. Researchers should not misrepresent data.
D. Clients and suppliers should be treated fairly.
E. Researchers should not omit pertinent data.
Answer:
When discussing the marketing planning process, STP stands for
A. strategies, tactics, and plans.
B. strategize, target, and promote.
C. segmentation, targeting, and positioning.
D. situation analysis, trend spotting, and planning.
E. sustaining, trending, and positioning.
Answer:
Innovators are a critical group of new product adopters because they
A. are the major source of innovation.
B. act as reverse engineering consultants.
C. help with test marketing.
D. help the product gain market acceptance.
E. extend the product life cycle.
Answer:
Frieda has just received a major order from Northrop Corporation for her firm's
hydraulic lift equipment. After reviewing the order information, Frieda will
A. send an acknowledgment that the order has been received.
B. rewrite her firm's proposal.
C. submit a competitive bid.
D. proceed to vendor analysis.
E. evaluate performance.
Answer:
Concept testing is important because it can
A. help the firm refine the promotional plans.
B. lead to immediate rollout of the final product.
C. help a firm avoid the costs of unnecessary product development.
D. reduce the potential loss of sales during the decline stage.
E. increase product development costs.
Answer:
During the introduction stage of a product's life cycle, typical consumers are
A. early adopters.
B. innovators.
C. pioneers.
D. early majority.
E. laggards.
Answer:
Which of the following is the best example of a persuasive advertising message?
A. "Buy now, pay later."
B. "Doing business in Peoria since 1848."
C. "Better than average."
D. "Now availablethe latest fall fashions."
E. "Serving the public since last Tuesday."
Answer:
Mohinder sells small-business health insurance programs, working on straight
commission. Closing the sale is an extremely stressful point in the selling process for
him. If he does not close the sale, the most likely outcome will be
A. his quota will be increased.
B. he will generate no income.
C. his quota will be lowered.
D. his bonus will not exceed his commission.
E. he will get a salary reduction.
Answer:
Recently, the number of students enrolled in the marketing program dropped while
enrollment in the psychology program increased. The chair of the marketing department
will probably use __________ as a first step to gain a better understanding of why
enrollments are changing.
A. experimental research
B. data warehousing
C. syndicated data
D. qualitative research
E. structured questionnaires
Answer:
In vendor-managed inventory systems,
A. corporations send information to retail customers, bypassing wholesalers and
retailers.
B. companies send information to cooperatives.
C. customers send information to retailers.
D. sales reps send sales information to the retailer.
E. retailers send sales information to the manufacturer.
Answer:
Kayla is the new manager of a resort hotel. She knows from reviewing customer
complaints that service quality at the hotel is not consistently meeting customers'
expectations, and she believes that the biggest problem is that her employees are not
sure what is expected of them. To improve service quality, Kayla will
A. empower customers to meet their own service needs.
B. establish a broad zone of intolerance to reduce customer complaints.
C. narrowly define a knowledge gap.
D. separate intangibles from tangibles.
E. set specific, measurable goals based on customers' expectations.
Answer:
B2B quantity discounts are legal if
A. the discounts are available to all customers.
B. they do not exceed 25 percent of the regular price.
C. they are not short term.
D. new customers can "buy up" to reach the minimum quantity.
E. cumulative discounts do not run for more than a calendar year.
Answer:
Tyree is concerned about a competitor's new line of outdoor barbeque grills that provide
most of the same features as his products. Tyree might consider using __________ to
gather qualitative information from consumers about the competitor's offerings.
A. industry surveys
B. experiments
C. focus groups
D. observation
E. primary data mining
Answer:
In the AIDA model, the think stage is the __________ stage.
A. awareness
B. action
C. interest
D. desire
E. intention
Answer:
The light beer commercial with the slogan "less filling, tastes great" was based on
__________ segmentation.
A. geographic
B. geodemographic
C. psychographic
D. benefit
E. loyalty
Answer:
Advertising slogans such as "Don't text and drive" and "Buy flood insurance before it is
too late" are examples of ads designed to
A. provide information.
B. remind consumers.
C. recruit employees.
D. persuade consumers to take action.
E. generate goodwill.
Answer:
There are five types of risks associated with purchase decisions. Which of the following
best describes a situation where your new car stalls in the middle of a busy intersection?
A. physiological risk
B. social risk
C. financial risk
D. functional risk
E. psychological risk
Answer:
Where on a product's packaging would one most likely find nutrient content and
country of origin?
A. inside the secondary package
B. inside the primary package
C. on the company website
D. on the label
E. on the store shelf display
Answer:
Cross-price elasticity is the
A. percentage change in quantity of a product demanded divided by the percentage
change in its price.
B. percentage change in quantity demanded of product A compared to the percentage
change in price of product B.
C. change in price of product A divided by change in quantity demanded for product B.
D. change in quantity of a product demanded divided by the change in its price.
E. change in quantity of a product demanded divided by the change in its elasticity.
Answer:
A __________ is a type of reseller, a business that buys from other businesses but does
not significantly alter the form of the products it buys.
A. manufacturer
B. producer
C. consumer
D. wholesaler
E. factory
Answer:
The __________ gap can be reduced by managing consumers' expectations and
promising only what can be delivered or possibly even a little less.
A. knowledge
B. communication
C. delivery
D. standards
E. empowerment
Answer:
Value creation through place decisions for a consumer product involves
A. putting the product in the front of the store.
B. designing creative displays to capture consumers' attention.
C. pricing products differently at different stores.
D. making sure the product is available in the stores where customers will want to find
it, and that it is always in stock so they can buy it when they want to.
E. focusing exclusively on Internet sales to reduce supply chain costs.
Answer:
Which of the following is the most logical example of complementary products?
A. hot dogs and hamburgers
B. VCRs and DVD players
C. hot dogs and hot dog buns
D. Honda cars and Toyota cars
E. a university and a corporation
Answer:
When John began helping his favorite uncle Burton with his finances, he discovered his
uncle was still renting a rotary-dial telephone from the phone company. Uncle Burton
had paid thousands of dollars in rental fees over the previous 40 years. Uncle Burton is
a(n) __________ in the diffusion of innovation process for telephones.
A. innovator
B. laggard
C. late majority
D. early majority
E. early adopter
Answer:
Which element of the marketing mix specifically deals with supply chain management?
A. product
B. price
C. place
D. promotion
E. production
Answer:
Marketing channel management is also known as
A. endless chain marketing.
B. a transactional orientation.
C. wholesaling.
D. production management.
E. supply chain management.
Answer:
__________ involves defining the firm's marketing mix variables so that target
customers have a clear, distinctive, and desirable understanding of the firm's offerings
relative to competitors' offerings.
A. Processing
B. Perceptualizing
C. Positioning
D. Proportioning
E. Prospecting
Answer:
Explain the concepts of distributive fairness and procedural fairness. Give an example
of each.
Answer:
What is another name for the AIDA model? Correlate this term to the AIDA steps.
Answer:
What are Geert Hofstede's five cultural dimensions concepts? What is the value of his
cultural dimensions concept to global marketers?
Answer:
Supply chain management expert Bernard LaLonde once said, "American
management's philosophy has been: If you're smart enough to make it, and aggressive
enough to sell itthen any dummy can get it there. Now we're paying for [that
philosophy]." What supply chain problems will managers with this philosophy likely
encounter?
Answer:
Using examples, describe the difference between impulse buying and habitual decision
making.
Answer:
What are page views, and why might a blogger want to see a report showing page views
for the different pages of a blog?
Answer:
Your best friend is considering a career in sales. What benefits of a sales career would
you explain to your friend?
Answer:
For which types of products should marketers consider using an undifferentiated
targeting strategy?
Answer:
Describe the four B2B markets and explain how their transactions differ.
Answer:
How do tariffs affect markets?
Answer:
What are some of the ethical issues associated with testing cosmetics on animals?
Answer:
Larry operates a fishing resort in the Galapagos Islands. Few guests visit his remote
island more than once, but Larry has his assistant e-mail recent customers each month
to see how satisfied they were with their stay at his resort. Why would Larry spend
effort on past customers if few guests come more than once?
Answer:
Demonstrate your understanding of the terms internal locus of control and external
locus of control by giving an example of each.
Answer:
When assessing customer value, what must a marketer always remember?
Answer:
You are shopping for a new car. Using the steps in the consumer decision process,
describe what you would do at each step during the purchasing experience.
Answer:
