Lakeland Inc. employees get 40 hours paid leave each year to pursue volunteer projects.
The company runs a service day that hosts projects in 25 countries, and it supports a
nonprofit that brings young people into public service for a year. Lakeland could be
most accurately described as practicing ________ marketing.
A) affiliate
B) undifferentiated
C) differentiated
D) innovative
E) sense-of-mission
Answer:
Which of the following terms refers to a customer’s evaluation of the difference
between all the benefits and all the costs of a market offering relative to those of
competing offers?
A) customer-perceived value
B) customer equity
C) share of customer
D) customer profitability
E) customer lifetime value
Answer:
________ marketing is defined as socially and environmentally responsible marketing
that meets the present needs of consumers and businesses while also preserving or
enhancing the ability of future generations to meet their needs.
A) Customer-driven
B) Mass
C) Sustainable
D) Customer-driving
E) Ambush
Answer:
Many companies are taking a ________ approach today, viewing quality as an
investment and holding quality efforts accountable for bottom-line results.
A) return-on-quality
B) quality level
C) performance quality
D) conformance quality
E) total quality management
Answer:
Which of the following is true about local marketing?
A) It does not cater to individual stores.
B) It does not support evolving technologies.
C) It increases manufacturing costs.
D) It increases economies of scale.
E) It reduces logistical issues.
Answer:
Which of the following criteria provides a measure of market attractiveness in the
Boston Consulting Group approach?
A) relative market share
B) market sentiment
C) return on marketing investment
D) market growth rate
E) brand image
Answer:
Solutions Inc. negotiates the sale of materials between lumberyards and commercial
construction companies, receiving a 15 percent commission on all transactions.
Solutions Inc. is considered a ________.
A) distributor
B) broker
C) retailer
D) manufacturer
E) supplier
Answer:
The use of both rail and trucks for transporting goods is called ________.
A) trainshipping
B) fishybacking
C) piggybacking
D) airtrucking
E) autoracking
Answer:
The manufacturer of Two-In-One, a combination shampoo and conditioner, shrink
wraps a 4- ounce foil packet of a smoothing hair pomade to its combo product. Which
of the following promotion tools is being used in this case?
A) rebates
B) samples
C) coupons
D) advertising specialties
E) price packs
Answer:
Wholesalers most likely discourage less-profitable customers by ________.
A) increasing product promotions
B) carrying exclusive product lines
C) overseeing inventory control systems
D) adding service charges to small purchase orders
E) requiring smaller orders to lower transportation costs
Answer:
________ is a method of going global in which a company makes agreements with
producers in the foreign market to produce its product or provide its service.
A) Contract manufacturing
B) Direct investment
C) Acquisition
D) Exporting
E) Management contracting
Answer:
The authors suggest that the term ‘supply chain” may be too limited because it takes a
“make-and-sell” view of the business. They believe the term ________ is more
appropriate because it suggests a ‘sense-and-respond” view of the market.
A) “upstream chain”
B) “downstream chain”
C) “market chain”
D) “production chain”
E) “demand chain”
Answer:
Which of the following is a disadvantage of a team-based approach to new product
development?
A) It lengthens the time required to get the right products to market.
B) It involves the use of a rigid, sequential product development approach.
C) A bottleneck at one place can seriously hinder the entire project.
D) Organizational confusion and tension are likely to affect the process.
E) The process is highly ineffective for products with short life cycles.
Answer:
________ are customers who show low potential profitability and little projected
loyalty.
A) True friends
B) Barnacles
C) Strangers
D) True believers
E) Butterflies
Answer:
What is the North American Free Trade Agreement (NAFTA)?
Answer:
Which of the following is most likely a consequence of the Great Recession of 2008 to
2009?
A) more free-spending on expensive products
B) more demand for credit and debit cards
C) more sensible and mindful consumption
D) less interest in frugality and value
E) less emphasis on sustainable marketing
Answer:
Which of the following pricing strategies is the opposite of FOB-origin pricing?
A) basing-point pricing
B) dynamic pricing
C) uniform-delivered pricing
D) freight-absorption pricing
E) zone pricing
Answer:
When sellers pay less attention to the specific products they offer and more attention to
the benefits and experiences produced by these products, they suffer from marketing
myopia.
Answer:
A company adding new features to a product will most likely assess each feature’s value
to customers relative to its ________.
A) cost to the company
B) performance in the market
C) benefits to the company
D) cost to the customers
E) benefits to the supplier
Answer:
________ means marketing a product in a foreign market without making any changes
to the product.
A) Product adaptation
B) Straight product extension
C) Communication extension
D) Product invention
E) Communication adaptation
Answer:
________ is often the most difficult but most critical step in the research process.
A) Developing the research plan
B) Collecting and analyzing the data
C) Defining the problem and research objectives
D) Interpreting the findings
E) Gathering secondary data
Answer:
Sales promotion tools used to persuade resellers to carry a brand, give it shelf space,
promote it in advertising, and push it to consumers are collectively called ________
promotions.
A) consumer
B) point-of-purchase
C) sales-force
D) trade
E) business
Answer:
What do most companies today focus on when it comes to protecting the environment?
A) investing heavily in pollution prevention
B) practicing product stewardship
C) developing a sustainable vision
D) investing heavily in environmental technology
E) increasing the biodegradability of products
Answer:
Which of the following is an economic factor that affects the pricing decisions of a
company?
A) market-penetration practices
B) top management decisions
C) promotional activities
D) reseller policies
E) interest rates
Answer:
Information collected from commercial online databases or through Internet search
engines are examples of ________ data.
A) primary
B) secondary
C) first-hand
D) experimental
E) ethnographic
Answer:
Unlike other car rental agencies that are based in airports to serve travelers, Rental
Wheelz has a network of neighborhood offices. The firm strives to serve people who
need car rentals for reasons other than vacation, such as when their own cars are being
repaired. Rental Wheelz caters to a small share of the large car rental market. From this
description, it can be concluded that Rental Wheelz most likely practices ________.
A) undifferentiated marketing
B) multi-segmented marketing
C) individual marketing
D) local marketing
E) concentrated marketing
Answer:
Which of the following is true of international divisions that are structured as
geographical organizations?
A) Geographical organizations are operating units under the export department.
B) Geographical organizations are usually formed to implement whole-channel supply
chains.
C) Geographical organizations are managed by product managers, each responsible for
different product groups.
D) Geographical organizations are inadequate if the firm moves into joint ventures or
direct investments.
E) Geographical organizations are managed by country managers responsible for
salespeople, distributors, and licensees in their respective countries.
Answer:
________ are certificates that save buyers money while they purchase specified
products.
A) Price packs
B) Samples
C) Coupons
D) Point-of-purchase promotions
E) Premiums
Answer:
Which of the following examples represents a product sales-force structure?
A) Venson’s produces frozen dinners at its factory in Ohio, and it sells them across the
country through a network of sales representatives organized into regional and
territorial tiers.
B) AmWeb produces an expensive brand of herbal cosmetics called “Green You” that
are sold in select boutiques and beauty parlors by selling teams assigned to serve small
groups of key customers.
C) Verra Designers operates from its landmark store in uptown New York and
customers from all over the world come to this store to buy original merchandise at
steep prices.
D) Carlton Computers sells its range of highly specialized computers through special
teams, each of which has received training in the configuration, uses, and USPs of a
single model in the range.
E) Nutters Inc., producers of cookies and other baked goods, markets its products
throughout the country through a network of area and regional sales officers.
Answer:
In which of the following steps of the selling process does a salesperson ask a buyer for
an order?
A) preapproach
B) qualifying
C) closing
D) prospecting
E) approach
Answer:
A ________ pricing strategy for an offering begins with an assessment of customer
needs and perceptions. Then a target price is set based on customer perceptions of
worth.
A) cost-based
B) target costing
C) value-based
D) value-added
E) competition-based
Answer:
Selective distribution is a strategy in which ________.
A) more than one, but fewer than all, willing intermediaries are used by a seller
B) products are stocked in as many outlets as possible by a seller
C) products are not sold through intermediaries but directly to customers from
producers
D) all willing intermediaries are given rights to sell a product
E) common household goods are preferred over luxury products by intermediaries
Answer:
JJ Distributors Ltd. buys electronic products from manufacturers for wholesale and sells
them to various retail outlets. To which of the following markets does JJ Distributors
Ltd. directly cater?
A) business markets
B) reseller markets
C) manufacturer markets
D) supplier markets
E) consumer markets
Answer:
Using ________, researchers measure consumer responses to new products and
marketing tactics in laboratory stores or virtual online shopping environments.
A) simulated test markets
B) controlled test markets
C) business analysis
D) standard test markets
E) concept development
Answer:
ToyTrain is a toy company that sells its products in most regions of the United States. It
produces a variety of toys for children of every age group, from toddlers to preteens.
What are ToyTrain’s options for organizing its marketing department? Briefly describe
each structure as it would apply to ToyTrain. Which organization do you think would be
best for ToyTrain? Why?
Answer:
Explain, with examples, the four characteristics of services that a company must
consider when designing marketing programs.
Answer:
Briefly describe the steps in the new product development process.
Answer:
A consumer’s behavior is influenced by social factors, such as the consumer’s small
groups, family, and social roles and status. Explain the differences among these social
factors.
Answer:
How has the marketing research industry responded to the intrusion and privacy issues
concerning consumer data?
Answer:
How does a company determine its channel objectives? What factors influence the
channel objectives of a company?
Answer:
Describe the major trends in the natural environment that marketers need to be aware
of.
Answer:
Compare display ads and search-related ads. Provide examples to illustrate your
response.
Answer:
Diversity goes beyond ethnic heritage. Discuss the factors that have influenced the
emergence of the lesbian, gay, bisexual, or transgender (LGBT) community and how
marketers have responded. Provide examples to illustrate your response.
Answer:
What is co-branding? What are the advantages of co-branding? Provide an example to
illustrate your answer.
Answer:
Describe the steps of the buyer decision process.
Answer:
Explain Maslow’s hierarchy of needs.
Answer:
Distinguish between market-skimming pricing and market-penetration pricing.
Answer:
Describe the various categories of industrial products with examples.
Answer:
What is brand equity?
Answer:
Discuss several ways in which small organizations can conduct marketing research at
little or no expense.
Answer:
What is environmental sustainability? How does it affect the marketing environment?
Provide examples to illustrate your response.
Answer:
Explain how the Internet has transformed the way in which we do business today.
Answer: