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All of the following are examples of individual factors that affect the decision-making
process for consumers EXCEPT:
a. gender
b. age
c. reference groups
d. lifestyles
e. personality
Answer:
Marketers must take care when using ____ since a lower price often signals to
consumers that product quality is also low.
a. price skimming
b. status quo pricing
c. penetration pricing
d. unbundling
e. cost sharing
Answer:
The ______ proposes that a minority of a firm's customers purchase a majority of the
volume of the product.
a. majority fallacy
b. equity fallacy
c. 80/20 principle
d. cannibalization rule
e. optimizer principle
Answer:
The price of the good or service is a key decision for a marketer because it most
significantly and directly affects the product's:
a. distribution.
b. costs.
c. demand.
d. promotion.
e. quality.
Answer:
Because automobile tires are in the maturity stage of their product life cycle, the
promotional mix element ____ should NOT be emphasized in the marketing of this
product.
a. public relations
b. persuasive advertising
c. sales promotion
d. reminder advertising
e. personal selling
Answer:
Alissa Dunn is the owner and operator of Dunn's Best Jams, which she sells at craft
festivals. She only makes and sells three types of jams""pecan pie jam, chocolate pie
jam, and lemon tart jam. The costs of leasing her professional kitchen for
manufacturing, travel to craft shows, insurance, and so on are allocated on an equal
basis to the three types of jam sold. In other words, these costs are:
a. derived costs.
b. elastic costs.
c. joint costs.
d. revenue impediments.
e. synergistic costs.
Answer:
According to the text, another commonly used name for producers is:
a. fabricators.
b. installers.
c. original equipment manufacturers.
d. product providers.
e. component networks.
Answer:
The advertising response function helps marketers:
a. create ads that will be noticed by consumers each time the ad runs.
b. use their advertising budgets wisely.
c. calculate the break-even points for each product being advertised.
d. determine the reach and frequency of specific media.
e. select an executional appeal appropriate to the product being advertised.
Answer:
Emily has just opened a health food store that sells organic foods, herbal supplements,
and environmentally friendly products. Because it will be a specialty store, she should
have a broad product assortment with moderately low prices.
a. True
b. False
Answer:
Earl is starting a new bank. Before the opening day, Earl had a meeting with all
employees. He discussed their mission, defined objectives for the bank for the coming
years, and shared who their target market is. He talked about their product offerings and
where their future branches would be located. Earl is sharing the bank's:
a. reengineering
b. hierarchical restructuring
c. financial analysis
d. marketing plan
e. strategic contingency planning
Answer:
Central Bark is a dog day care center. When you check your dog into a Central Bark
you know your pooch will be pampered. Since kennels have been boarding dogs for
years, the dog day care is not really a new product.
a. True
b. False
Answer:
Circuses
As recently as 20 years ago, circuses came to town with tents, animals, clowns, and
other performers. An advance man arrived about two weeks before the circus actually
arrived, covered the community with posters, and gave out free tickets to
schoolchildren. If the advance man had done a good job, when the circus arrived and
opened its tent doors, 300 to 600 people would fill its seats. When the largest circus
organizations merged, the newly formed Ringling Bros. and Barnum & Bailey's
Greatest Show on Earth began performing in 4,000seat arenas.
Attendance, however, has stagnated in recent years. People have stopped going to the
circus because they miss the circus tent and the intimate atmosphere it created. The
newest thing in circuses is a return to the tent atmosphere with an emphasis on the types
of entertainment that were popular years ago. Antique circus wagons, calliope music,
and cotton candy are replacing the exotic animals and the prima donna performers. To
satisfy the needs of this new audience, the tent circus now sells lattes and wine.
Refer to Circuses. The aggressive promotions used by advance men indicate that
decades ago the circuses probably had a orientation.
a. sales
b. market
c. production
d. societal
e. product
Answer:
____ advertising compares two or more specifically named or shown competing brands
on one or more specific attributes.
a. Contrasting
b. Comparative
c. Pioneering
d. Superlative
e. Differentiational
Answer:
Campbell's
Most people recognize Campbell's as a brand of soup, but Campbell's also
manufactures Pace Picante Sauce, Pepperidge Farms products, Prego Sauce, Swanson
Broth, and V8 juice. Campbell's International division offers more than 20 brands of
soups, sauces, beverages, and baked snacks in the Asia Pacific region, Greater Europe
and Latin America. Products such as Arnott's biscuits and crackers and Bi Band soups
are well known overseas. Campbell's products are sold in more than 120 countries.
Refer to Campbell's. Marco likes to pack a V8 juice in his lunch bag every day. Based
on its intended use, Marco's V8 juice could best be classified as a product.
a. industrial
b. consumer
c. business
d. convenience
e. unsought
Answer:
Fisher-Price employees were engaged in experimental research when they observed,
from behind a mirror, children playing with soap bubbles and decided to build a toy
lawn mower that spewed soap bubbles.
a. True
b. False
Answer:
Top managers who behave ethically can influence others in an organization to behave
ethically.
a. True
b. False
Answer:
StarbucksLoyaltyRewards
The first Starbucks opened in 1970 in Seattle, Washington. The demand for its coffee
grew, and Starbucks added more than 6,000 stores located in over 30 countries. In its
more than 30-year history, Starbucks has never given out coupons for its coffee.
Starbucks needed only to make its coffee and customers came. Recently, consumer
quality perception of the Starbucks brand has started to fall. Starbucks started a
consumer response blog to learn more about what consumers expect from Starbucks.
One of the most common requests was for a customer rewards program. In response,
Starbucks started My Starbucks Rewards, which offers free refills on brewed coffee,
free beverage with whole bean purchase, beverage customization, and free Wi-Fi.
Starbucks also put coupons in a national newspaper for those consumers who love
coupons and created a new brew of coffee for those who prefer a milder coffee taste.
Starbucks is hoping that these improvements will restore customers' loyalty and
confidence.
Refer to Starbucks. The fact that management realized that coffee drinkers had different
needs, whether it be using coupons, wanting a milder brew of coffee, or using free
Wi-Fi, shows that Starbucks is now using a ____ -oriented approach.
a. sales
b. market
c. production
d. societal
e. product
Answer:
Marketing research is the function that links the consumer, customer, and public to the
marketer through information.
a. True
b. False
Answer:
Colgate manufactures a fruit-flavored SpongeBob Squarepants toothpaste for kids. The
age-based variable that distinguishes the market for this product is an example of
______segmentation.
a. geographic
b. demographic
c. psychographic
d. benefits
e. usage rate
Answer:
Prices on items sold by supermarkets change frequently, and they often offer special
sales to match or beat the prices of their competitors. Therefore, ____ would be a major
consideration when a supermarket selects an advertising vehicle.
a. audience duplication
b. noise level
c. life span
d. cost per contact
e. flexibility
Answer:
After estimating how much market share and profit can be earned at each possible price
point, managers should establish price goals and determine corresponding costs for
each price.
a. True
b. False
Answer:
The connected chain of all of the companies involved in all of the upstream and
downstream flows of products, services, finances, and information, from initial
suppliers (the point of origin) to the ultimate customer (the point of consumption) is
known as the:
a. channel of distribution.
b. intermediary link.
c. physical distribution integration.
d. reseller network.
e. supply chain.
Answer:
Roger has lots of nice photos of his family on his digital camera and wishes he could
display them on his desk at work without having to print them out. A coworker told him
that he could purchase a digital photo frame to download and display his digital photos.
Because Roger did not know such a product existed, digital photo frames represented
a(n) ____ to him.
a. heterogeneous shopping product
b. diffusion
c. market laggard
d. product diversification
e. innovation
Answer:
In our free-press environment, publicity is not easily controlled.
a. True
b. False
Answer:
Most companies do a very good job of doing research to create a price strategy.
a. True
b. False
Answer:
There are many snack foods for children, but only Nature's Path makes an organic
snack designed for a child's palate. The product's unique selling proposition is that it is
completely organic.
a. True
b. False
Answer:
______ is the process of gauging the extent to which marketing objectives have been
achieved during the specified time period.
a. Implementation
b. Control
c. Heuristic measurement
d. Evaluation
e. Mechanistic compliance
Answer:
The ____ is a governmental body that has the power to prescribe mandatory safety
standards for almost all products consumers use.
a. Health and Welfare Agency
b. Federal Trade Commission
c. Food and Drug Administration
d. Federal Communications Commission
e. Consumer Product Safety Commission
Answer:
Arm & Hammer is a well-known and respected brand of baking soda. The company has
put its brand name on several products, such as laundry detergent, toothpaste, kitty
litter, and many more. These are examples of:
a. brand transfers
b. brand modifications
c. brand banks
d. brand hierarchies
e. brand extensions
Answer:
The manufacturers that remain in the market toward the end of the maturity stage
typically offer similar prices.
a. True
b. False
Answer:
Which of the following is an example of owned media?
a. The tweet that Winniewho works out regularly at FitBody Bootcampsent to her
followers about how much weight she's lost since she's been working out
b. An e-mail sent by Garrett to the manager of FitBody Bootcamp, asking about what
types of workout programs the gym offers
c. The Facebook page created by FitBody Bootcamp to let members know about special
events at the gym
d. The display advertisement that FitBody Bootcamp purchased on the local
newspaper's Web site
e. The personal blog "Feeling the Burn," maintained by Andy, who is one of the
instructors at FitBody Bootcamp
Answer:
