In a marketing context, the acronym IMC refers to __________.
a. interactive media convergence
b. internal marketing communications
c. integrated marketing collaboration
d. integrated marketing communications
e. international marketing communications
Answer:
Ten general product and service categories dominate online consumer buying today and
in the foreseeable future. One category consists of highly standardized products and
services, for which
a. audio or video demonstration is important.
b. price and delivery time are not key factors.
c. digital delivery is an important factor.
d. assortment and speed of delivery are the determinant sales factors.
e. information about price is important.
Answer:
Policy makers at the Federal Reserve in the United States believe it takes a far bigger
change in inflation to affect unemployment than it did 25 years ago. Now, when
inflation fluctuates, they are more likely to blame other factors, such as the price of oil.
This is an example of a(n) __________ environmental force.
a. cultural
b. regulatory
c. competitive
d. cost
e. economic
Answer:
Trend extrapolation involves
a. extending a pattern observed in past data into the future.
b. selecting specific points on a graph of sales or market share, multiplying by the cost
of living index, and allowing for a variation of plus or minus 3%.
c. averaging the total sales or market share for the previous 5 years and multiplying that
number by the expected GDP growth rate for the next year (say 1.%) to arrive at the
next year’s forecast.
d. selecting a given percentage and using that number as a yearly predictive base
regardless of changes in sales, revenue, or market share.
e. collecting projections from all regional sales managers and making the final
projection.
Answer:
In the hierarchy of effects, the consumer’s appraisal of the product or brand on
important attributes is referred to as the _________ stage.
a. evaluation
b. adoption
c. awareness
d. interest
e. trial
Answer:
Rhone-Poulenc is an international French company that produces and markets a variety
of chemicals and pharmaceuticals. Due to the resources it makes available to its
scientists and researchers, the company has a number of Nobel Prize winners working
in its laboratories. This ability to employ some of the finest minds in the world is an
example of a
a. point of difference.
b. competency.
c. sustainable advantage.
d. product development strategy.
e. human resource strategy.
Answer:
A manufacturer can successfully use mixed branding because __________.
a. it involves giving each product a distinct brand name
b. the segment attracted to the reseller product is different from its own market
c. the company uses one name for all of its products for the sake of simplicity
d. it is easy to do
e. it produces lower profits for the reseller and higher profits for the manufacturer
Answer:
Which of the following is a major reason for the violation of ethics codes?
a. government regulation
b. family influence
c. lack of religious beliefs
d. fear of disciplinary action
e. lack of specificity
Answer:
Figure 1.
According to Figure 1. above, “A” defines what level in the hierarchy of needs?
a. self-actualization
b. personal
c. social
d. safety
e. physiological
Answer:
A(n) __________ is an intermediary who sells to other intermediaries.
a. agent
b. wholesaler
c. retailer
d. manufacturer
e. broker
Answer:
Which of the following is a characteristic of the growth stage of the product life cycle?
a. Advertising emphasis switches to selective demand.
b. A growing proportion of trial purchases come from brand loyal users
c. Product features remain unchanged.
d. Profit margins increase as sales increase.
e. The product is sold in a narrowly selected number of retail outlets.
Answer:
As a general rule, __________ seems to work best when the consumer market target for
the product is alike across countries and culturesthat is, consumers share the same
desires, needs, and use for the product.
a. product adaptation
b. product extension
c. product integration
d. product invention
e. product customization
Answer:
According to the text, the Kodak Playsport pocket video camera is most likely in what
stage of its product life cycle?
a. introduction
b. growth
c. maturity
d. harvest
e. decline
Answer:
The difference between the final selling price and the retailer’s cost is referred to as a(n)
__________.
a. original markup
b. maintained markup
c. markdown
d. differential markup
e. discounted price
Answer:
A sales promotion in which the consumer is invited to apply their skill or analytical or
creative thinking to try to win a price is commonly referred to as a _________.
a. contest
b. challenge
c. competition
d. sweepstakes
e. public relations campaign
Answer:
Even though Liquid Paper correction fluid is in the __________ stage of its product life
cycle, Sanford, its manufacturer, has not deleted it from its line because there is still a
residual core of consumers who use the product.
a. introduction
b. growth
c. maturity
d. decline
e. deletion
Answer:
Two variations on licensing are
a. contract manufacturing and direct investment.
b. contract manufacturing and joint ventures.
c. foreign assembly and franchising.
d. contract manufacturing and contract assembly.
e. foreign assembly and joint ventures.
Answer:
A situation analysis requires a firm to consider the external forces and trends that affect
it. Some of these may be favorable to the organization while others may be unfavorable.
Which of the following is an example of an external force?
a. The firm buys its own fleet of trucks, so it no longer needs to hire a trucking
company for distribution.
b. A hiring freeze is put into place. Although no one is fired, no one can be hired.
c. A goal is set to close the gap between production costs and profits.
d. A local government requires that all businesses within the city limits must recycle or
be fined.
e. Shareholders are rewarded with a sizeable dividend check.
Answer:
An iMac personal computer from Apple can be classified according to all of the
following categories EXCEPT:
a. business product.
b. nondurable good.
c. B2B product.
d. durable good.
e. consumer product.
Answer:
The overwhelming response by bargain-hunting consumers to Groupon’s online deals is
an example that demonstrates the change in consumption orientation known as
a. the quality-value proposition.
b. buyer-centric excellence.
c. value consciousness.
d. customer value.
e. purchasing value.
Answer:
A reorder of an existing product or service from a list of acceptable suppliers is referred
to as a
a. new buy.
b. straight rebuy.
c. modified rebuy.
d. standard reorder.
e. make-buy.
Answer:
Which of the following statements is most accurate?
a. Nonprofit organizations are exempt from having to cover the costs of producing
and/or marketing their products.
b. Socially responsible corporations should have the pricing constraint of covering all
costs of producing and marketing their products, but they should not price their
products to earn a profit.
c. Regardless of a company’s constraints, a firm must cover all the costs of producing
and marketing a product, or the firm will fail.
d. Price elasticity of demand makes it virtually impossible for companies to cover all
their marketing and production costs at all times.
e. Marketing and production costs are the most difficult and expensive aspect of pricing
because they draw so much capital away from other departments in the organization.
Answer:
With respect to a product’s characteristics, complexity refers to
a. the degree of service or support required after the sale.
b. the assessment of financial risk, social risk, and physical risk.
c. the number of component parts used in the construction of the original products: the
more parts, the more complex the product.
d. the number of distinct product attributes in terms of color, size, form, and function.
e. the technical sophistication of the product and the amount of understanding required
to use it.
Answer:
The two general methods for quoting prices related to transportation costs are
uniformed delivered pricing and __________.
a. regional pricing
b. flexible pricing
c. mode of transportation pricing
d. FOB origin pricing
e. FOB destination pricing
Answer:
Figure 1.b
In Figure 1.b above, as the number of sellers increases, the price
a. increases.
b. stays the same.
c. has no relation to the number of sellers.
d. decreases.
e. fluctuates depending on economic conditions.
Answer:
A situation that occurs when a service provider is available but there is no demand is
referred to as
a. off-peak pricing.
b. idle production capacity.
c. static demand.
d. capacity management.
e. excess inventory.
Answer:
In the VALS framework, consumers who favor established, prestige products and
services and are interested in time-saving devices given their hectic schedules are called
a. Thinkers.
b. Believers.
c. Strivers.
d. Experiencers.
e. Achievers.
Answer:
Marketing Dashboard Map
In the marketing dashboard map shown above, “green” indicates an annual growth rate
that is greater than 10%; “orange” signifies an annual growth rate of between 0%-10%;
and “red” represents a decline or negative annual growth rate. If an organization’s 2011
sales for the entire U.S. were $50 million and its 2010 U.S. sales were $30 million,
what is the annual % sales change?
a. 33%
b. 67%
c. 100%
d. 125%
e. 133%
Answer:
A limited-service agency refers to
a. an advertising agency that not only provides a complete range of services, including
market research, media selection, copy development, artwork, and production, it has
input into actual product design.
b. an advertising agency that specializes in one aspect of the advertising process such as
developing advertising copy or providing social media services.
c. an advertising agency that provides the most complete range of services, including
market research, media selection, copy development, artwork, and production.
d. firms that are large enough to carry their own in-house advertising staff to provide all
advertising services the company needs.
e. one that sets a firm’s advertising objectives, designs the market research, recommends
media selection, suggests copy development and artwork, and then allows the firm to
implement the recommendations in order to save the firm money.
Answer:
Which of the following statements regarding segmentation bases is most accurate?
a. The identification of demographic variables is more objective than the identification
of psychographic variables, which is more subjective.
b. The identification of psychographic variables is more objective than the identification
of demographic variables, which is more subjective.
c. Marketers should use segmentation bases in this order to reduce potential costs:
behavioral, demographic, psychographic, and geographic.
d. Behavioral segmentation is based primarily on personality.
e. Psychographic segmentation is based primarily on product features.
Answer: