A winery introduced a brand wine that it priced twice as high as its other wine. This is
an example of product extension by a(n) ________.
A) downward line stretch
B) product mix
C) cannibalization strategy
D) upward line stretch
E) two-way stretch
Which of the following is an advantage of using single sourcing?
A) Suppliers are more likely to remain cost-competitive.
B) Buyers are less reliant on one firm to deliver the needed goods without interruption.
C) The buyer and seller agree to be each other’s customers.
D) Consistency of quality of materials input into the product process is greater.
E) Buyers have other suppliers to fall back on if one supplier fails.
A group coexisting with other groups in a larger culture whose members share a
distinctive set of beliefs or characteristics is a ________.
A) target market
B) market segment
C) social class
D) subculture
E) lifestyle
A(n) ________ promotes the firm and tries to stimulate demand for a product but does
not actually complete a sale.
A) order taker
B) order getter
C) missionary salesperson
D) relationship manager
E) new-business manager
A company utilized ________ when it asked consumers to indicate how they feel about
panty hose.
A) exploratory research
B) causal research
C) case study research
D) ethnography
E) descriptive research
The text of an email or a social media post would be referred to as ________.
A) structured data
B) unstructured data
C) predictive data
D) optimized data
E) converted data
A manufacturer of a product in the decline stage of its product life cycle would be
LEAST likely to do which of the following?
A) continue producing the product for loyal users
B) reduce the advertising budget for the product
C) phase out production of the product
D) advertise heavily without changing the product or its target market
E) withdraw most marketing support for the product and rely on e-commerce
In terms of organizational markets, discount stores are examples of ________.
A) resellers
B) resuppliers
C) not-for-profit markets
D) producers
E) facilitating agents
A(n) ________ is a coordinated, comprehensive plan that carries out promotion
objectives and results in a series of advertisements placed in various media over a
period of time.
A) sales promotion
B) advertising campaign
C) mass marketing plan
D) media schedule
E) integrated marketing communication campaign
Through the use of ________, a company is able to know exactly where a product is
located within the distribution channel.
A) ERP
B) RFID
C) PRM
D) VMS
E) JIT
With which type of marketing communication does the marketer have the greatest level
of control over the message?
A) word-of-mouth communication
B) advertising
C) public relations
D) direct marketing
E) personal selling
Walmart’s Retail Link provides real time purchase data to suppliers of goods sold at
Walmart stores. Retail Link is an example of a ________ source of Big Data.
A) social media
B) partner database
C) commercial entity
D) government
E) corporate information technology
Functions provided by channel intermediaries that make the purchase process easier for
customers and manufacturers are referred to as ________ functions.
A) distributing
B) facilitating
C) management
D) marketing
E) wholesaling
Brand loyalty in the product choice step of the consumer decision-making process is an
example of a ________.
A) psychographic
B) consumer expectation
C) cognitive dissonance
D) heuristic
E) behavioral target
As a part of the ________ process of market planning, managers need to look carefully
at why a company isn’t meeting its objectives.
A) diversification
B) market development
C) brand competition
D) marketing mix
E) control
In which step of the hierarchy of effects would a marketer most likely rely on samples
and coupons?
A) create awareness
B) inform the market
C) create desire
D) encourage purchase
E) build loyalty
A trained researcher was paid to visit a home with three preschoolers every day for two
weeks to observe the children’s bath time. This is an example of ________.
A) a focus group
B) experimental research
C) a case study
D) descriptive research
E) ethnography
Which of the following is the industry term for inventory and cash losses from
shoplifting and employee theft?
A) bait-and-switch
B) anticonsumption
C) demarketing
D) shrinkage
E) lifetime cost of a customer
The ________ is the member of the buying center who controls the flow of information
to other members.
A) initiator
B) gatekeeper
C) decider
D) user
E) influencer
The most commonly used measure of a country’s economic health is the country’s
________.
A) gross domestic product (GDP)
B) gross national product (GNP)
C) exchange rate
D) cost of living
E) Big Mac Index
Often consumers base their perception of price on what they perceive to be the
customary or ________.
A) dynamic price
B) fair price
C) target price
D) list price
E) assimilated price
________ is a measure of the percentage of people in the target market who are
exposed to the media vehicle at least once during a given time period.
A) Reach
B) Frequency
C) Impression
D) Exposure
E) Gross rating
If you visit diamondsforever.com, you can design your own ring. This site, which is
operated by Engaging Engagements, then allows you to email a picture of your ring to
friends and relatives. This way, they can share in the excitement and be informed of the
website’s existence. Engaging Engagements is using ________.
A) location-based social networking
B) viral marketing
C) stealth marketing
D) direct marketing
E) virtual marketing
Which of the following is the process of dividing a larger market into smaller pieces
based on one or more meaningfully shared characteristics?
A) acculturation
B) segmentation
C) market fragmentation
D) targeting
E) positioning
Which of the following is the trend of many shoppers actively looking for and
purchasing food grown or raised within 50 to 100 miles of where they live?
A) utilitarianism
B) green washing
C) fair trading
D) collectivism
E) locavorism
Manufacturers’ ________, also called manufacturers’ representatives, represent a buyer
or seller on an ongoing basis.
A) brokers
B) franchisers
C) agents
D) retailers
E) intermediaries
A business plan ________.
A) is a document that outlines marketing strategies step by step
B) identifies how a company will measure and control specific marketing strategies
C) is another name for a marketing plan
D) includes the decisions that guide the entire organization or its business units
E) is another name for a SWOT analysis
U.S. sugar import quotas have existed for more than 50 years and preserve about half of
the U.S. sugar market for domestic producers. Why does the United States continue to
have these quotas?
A) to reduce competition for its domestic sugar industry
B) to increase the cost of sugar
C) to control the supply and demand for sugar
D) to support a mass market for sugar
E) to improve the promotion of sugar
A product has three distinct layers. The most basic level is the ________, which
consists of all the benefits the product will provide for consumers or business
customers.
A) actual product
B) augmented product
C) core product
D) innovation
E) brand
The ________ is the price of a nation’s currency in terms of another currency.
A) expropriation
B) standard of living
C) import quota
D) tariff
E) foreign exchange rate
Exporting products overseas is an example of ________.
A) countertrade
B) a market-entry strategy
C) a marketing mix strategy
D) fair trade
E) a convertible trade
Demographic variables are so frequently used in market segmentation because they
________.
A) create smaller segments than other methods do
B) create more easily reached segments than other methods do
C) do not involve stereotypes
D) are easy to measure in comparison to many other methods
E) involve fewer attributes to consider than other methods do
Christopher Messenger rents storage space to college students who go home for the
summer but do not want to haul all of their property home and back. The business is
profitable during the summer months, but when the storage space is unoccupied in the
off-season, Christopher is losing money. What characteristic of service is most likely
the source of Christopher’s problem?
A) intangibility
B) perishability
C) personalization
D) variability
E) inseparability
Which of the following integrates information from across the company in order to
automate order processing?
A) just-in-time inventory techniques (JIT)
B) radio frequency identification (RFID)
C) vertical marketing system (VMS)
D) horizontal marketing system
E) enterprise resource planning system (ERP)