Xenon Corp. releases frequent updates to improve its expensive software products. This
marketing approach used by the firm is most likely based on the production concept.
The largest, fastest-growing market segments are generally the most attractive ones for
smaller companies.
Foreign businesses can face nontariff trade barriers restricting product standards.
Lobbying refers to a PR department maintaining relationships with shareholders and
others in the financial community.
A company or brand image should convey a product’s distinctive benefits and
positioning.
Casey’s is a large supermarket that practices everyday low pricing. Therefore,
consumers should expect few discounts or sales if shopping at Casey’s regularly.
When using product line pricing, a firm sets one price for all products in the line based
on average manufacturing costs.
Marketers have a better chance of taking advantage of a person’s secondary beliefs than
his or her core beliefs.
When a company decides to maintain a product in the decline stage, it has no
alternative but to sell the product to another firm or simply liquidate it at salvage value.
Barnacles are customers who are potentially profitable but not loyal.
Orienting and motivating customer-contact employees to work as a team to provide
customer satisfaction is known as social marketing.
The stage at which new product and marketing programs are introduced into realistic
market settings is called concept testing.
Commissions and bonuses are variable amounts of compensation.
In any medium, the relevance of advertising content to an audience is less important
than how many people the advertisement reaches.
When backed by buying power, wants become needs.
Regardless of how companies go about pricing their products, their foreign prices will
most likely be higher than their domestic prices for comparable products.
The suppliers who are not adding value based on cost and quality are more in demand
than their competitors.
Controlling the ingredients that go into certain products and reducing the level of
advertising “noise” are part of proposals relating to the consumer’s right to ________.
A) not buy a product that is offered for sale
B) expect a product to perform as claimed
C) be well informed about important aspects of the product
D) be protected against questionable products, promotions, and marketing practices
E) influence marketing practices in ways that will improve quality of life
Which of the following best describes the value chain of a company?
A) the collection of businesses and products that make up the company
B) profits earned by the cash cows and stars in the company’s business portfolio
C) touchpoints at which a company or brand interacts with its consumers
D) the series of departments that design, produce, market, deliver, and support the
company’s products
E) a network made up of the company, its suppliers, and its distributors working
together to deliver customer value
Pawz is a larger retailer that specializes in pet products and services such as pet food,
accessories, grooming, toys, and medical treatment. Pawz also has animals available for
adoption at all of its many stores located across the nation. Pawz is most likely an
example of a ________.
A) convenience store
B) pop-up store
C) category killer
D) lifestyle center
E) supermarket
To which of the following generational groups do zoomers belong?
A) Millennial
B) Generation X
C) Generation Z
D) Lost Generation
E) baby boomer
Which of the following is most likely categorized as a business market?
A) government agencies that buy goods and services to produce public services
B) individuals who buy goods and services for personal consumption
C) firms that buy goods and services for further processing
D) firms that buy goods and services to resell for profit
E) retail outlets that buy goods and services to sell at discounted prices
Loretta Inc., a U.S.-based watch manufacturer, sells its products in France, China,
Russia, and India. To manage sales, Loretta appoints a number of sales representatives
to each location. Sales representatives report to area managers, and area managers
coordinate sales in their respective areas before reporting to regional managers. Loretta
has most likely adopted a ________ sales-force structure.
A) customer
B) product
C) complex
D) distributor
E) territorial
Port Orleans Shipping markets different services to the tourism, defense, and trade
segments. The firm designs separate offers for each segment based on their needs. This
approach is called ________ marketing.
A) concentrated
B) differentiated
C) individual
D) mass
E) local
________ involves looking at whether a company’s basic business models are well
matched to its opportunities.
A) Operating control
B) Task control
C) Agency control
D) Strategic control
E) Market control
________ involves thinking ahead to create products that are easier to recover, reuse,
recycle, or safely return to nature after usage, thus becoming part of the ecological
cycle.
A) Consumerism
B) Design for environment
C) Beyond greening
D) Pollution control
E) Pollution prevention
Which of the following promotion tools would best reach a geographically dispersed
mass audience in a short period of time?
A) direct mailing
B) telephone marketing
C) door-to-door selling
D) television advertising
E) printed-catalog marketing
The ________ concept holds that achieving organizational goals depends on knowing
the needs and wants of target markets and delivering the desired satisfactions better
than competitors do.
A) marketing
B) product
C) production
D) selling
E) societal marketing
The marketing manager at Frizzles’ Eateries targets customers who are working to lose
weight but who still want to dine out. The restaurant chain offers a wide variety of
low-fat, low-calorie meals that appeal to dieters. Frizzles’ approach is best referred to as
________ segmentation.
A) age and life-cycle
B) user status
C) benefit
D) demographic
E) geographic
Which of the following is true of the Uruguay Round of the WTO?
A) It promoted short-term global trade growth.
B) It increased the world’s merchandise tariffs by 50 percent.
C) It reduced the influence of the WTO in agriculture.
D) It toughened the international protection of intellectual property.
E) It consisted of discussions that lasted for two years.
What are the two main types of research instruments used to collect primary data?
A) observation scales and personal interviews
B) questionnaires and mechanical devices
C) focus groups and mechanical devices
D) focus groups and questionnaires
E) personal interviews and online focus groups
Faber Motors manufactures three lines of cars: high-end security cars for government
agencies, commercial cars for consumers and individuals, and professional racing cars.
The high-end security cars are sold directly to government buyers by the company. The
consumer cars are sold through dedicated dealers who only sell Faber’s lines at their
outlets. For its professional racing cars, Faber collaborates with Radium Tires, an
innovative and renowned tire manufacturer. Faber provides the engine and body, while
Radium provides the tires and its expertise on the racing industry. Which term best
describes Faber’s channel arrangements?
A) direct distribution system
B) horizontal marketing system
C) corporate vertical franchise system
D) multichannel distribution system
E) administered vertical marketing system
In which of the following stages of the adoption process does a consumer seek
information about a new product?
A) interest
B) adoption
C) evaluation
D) awareness
E) trial
Which of the following is true of question formats in questionnaires?
A) Closed-end questions allow respondents to answer in their own words.
B) A scale question is an example of an open-end question.
C) Open-end questions allow respondents to choose among the best answer options
available.
D) Closed-end questions are difficult to evaluate when compared to open-end questions.
E) Open-end questions are useful in exploratory research to find out what people think.
Which of the following is most likely true about direct and digital marketing?
A) They make it increasingly difficult for sellers to adjust their prices.
B) They provide sellers a high-cost alternative for reaching their markets.
C) They have become less dependent on social media and the Internet.
D) They provide buyers with anytime, anywhere access to products.
E) They reduce the number of interaction options between buyers and sellers.
Brand ________ is the differential effect that knowing the brand name has on customer
response to the product and its marketing.
A) capital
B) loyalty
C) wealth
D) esteem
E) equity
Differentiate between straight product extension and product adaptation. Give a few
examples of each.
Explain joint ownership with an example. What are its advantages and disadvantages?
What is the difference between corporate chains, voluntary chains, and retailer
cooperatives? How are such retail organizations different from franchise organizations?
What are the factors that a company should consider when deciding which markets to
enter?
With reference to the different types of markets, compare pure competition with
monopolistic competition.