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Which of the following is true about business-to-business e-procurement?
A) E-procurement increases transaction costs for suppliers.
B) Because of an overwhelming demand, e-procurements usually have a huge time gap
between order and response.
C) Many buyers now use the power of the Internet to pit suppliers against one another
and search out better deals, products, and turnaround times on a purchase-by-purchase
basis.
D) E-procurement enhances customer-supplier relationships.
E) Due to extensive paperwork, the relatively important strategic issues, such as finding
better supply sources and working with suppliers to reduce costs and develop new
products, are sidelined.
Answer:
In ________, text-based ads and links appear alongside search engine results on sites
such as Google, Yahoo!, and Bing.
A) content sponsorships
B) digital billboards
C) digital catalogs
D) contextual advertisements
E) RSS feeds
Answer:
Why does direct-mail marketing most likely remain a popular promotional tool for
marketers?
A) It does not disturb consumers enrolled in the Do Not Call Registry.
B) It provides something tangible for people to keep.
C) It builds long-term customer relationships.
D) It involves very low marketing costs.
E) It reaches the consumer very quickly.
Answer:
A ________ is a set of interdependent organizations that help make a product or service
available for use or consumption by the consumer or business user.
A) product line
B) product delivery network
C) marketing channel
D) consumer base
E) resource bank
Answer:
According to the Boston Consulting Group approach, ________ provides a measure of
market attractiveness.
A) product attribute
B) product design
C) market penetration
D) market growth rate
E) market segmentation
Answer:
Effective ________ pricing involves understanding how much value consumers place
on the benefits they receive from the product and setting a price that captures that value.
A) competition-oriented
B) cost-based
C) time-based
D) customer-oriented
E) marketer-oriented
Answer:
For international researchers, ________ is the most obvious obstacle.
A) language
B) technology
C) infrastructure
D) motivation
E) political risk
Answer:
________ is the process of developing and maintaining a crucial fit between the
organization's goals and capabilities and its changing marketing opportunities.
A) Benchmarking
B) SWOT analysis
C) Market segmentation
D) Strategic planning
E) Diversification
Answer:
A(n) ________ consists of one or more independent producers, wholesalers, and
retailers, each seeking to maximize its own profits, sometimes even at the expense of
the system as a whole.
A) multitiered supply chain
B) conventional distribution channel
C) intrinsic market matrix
D) resource bank
E) product platform
Answer:
Strategies that strongly position a company against competitors and that give the
company the best possible strategic advantage are ________ strategies.
A) competitor analysis
B) customer relationship
C) competitive marketing
D) competitive relationship
E) customer identification
Answer:
In the case of services, captive product pricing is called ________ pricing.
A) by-product
B) optional product
C) two-part
D) bundle
E) segmented
Answer:
Using a(n) ________ strategy, the producer directs its marketing activities toward final
consumers to induce them to buy the product.
A) pull
B) blitz
C) push
D) buzz
E) pulse
Answer:
Price & Malone Corp., a company based in Houston, caters to a market of individuals
and households that buy goods and services for personal consumption. Price & Malone
caters to a ________ market.
A) business
B) reseller
C) government
D) consumer
E) wholesale
Answer:
Which of the following is true with regard to products?
A) The quality of products is far more difficult to measure than that of services.
B) Products do not include experiences, organizations, persons, places, and ideas.
C) Products are not meant for sale in the market.
D) Products include services, events, persons, places, organizations, ideas, or a mixture
of these.
E) Products refer to only those activities that are essentially intangible.
Answer:
Which of the following statements about income distribution in the United States is
NOT true?
A) Over the past several decades, the rich have grown richer.
B) Over the past several decades, the middle class has grown faster than other classes.
C) Over the past several decades, the poor have remained poor.
D) The top 20 percent of earners capture over 50 percent of all income.
E) The top five percent of American earners get nearly 22 percent of the country's
adjusted gross income.
Answer:
Refer to the scenario below to answer the following question(s).
The Attic Trunk opened in 1999 as an upscale dress shop in Forest Ridge's fashionable
shopping district, catering to a wealthy, mature clientele consisting mostly of older,
first-generation Hispanics. Many other specialty shops lined the main avenue over the
next few years. But as Forest Ridge began to attract a more price-conscious, younger,
and more demographically diverse population, the once-popular shopping district was
increasingly perceived as stodgy and snobby by the new segment of customers.
By the mid-2000s, many of these specialty shops suffered financially. Most shops
attracted only tourists who enjoyed browsing through the displays of alligator belts and
shoes, piles of scented soaps, and so on, often laughing at the ridiculously high prices.
Owners of The Attic Trunk had noticed the shifts in buying behavior of customers by
the mid-2000s. In fact, the owners had observed that the once-fashionable shopping
district in Forest Ridge no longer attracted the wealthy, mature clientele. This clientele
had been replaced with price-conscious families with children, a mix of Asian and
African Americans as well as Caucasians.
Specialty items at The Attic Trunk gradually disappeared, replaced by brand-name
apparel, fashion accessories, and jewelry. Other owners followed suit in the late 2000s,
bringing restaurants, an outdoor cafe, and a day spa to the main avenue in Forest Ridge.
Which of the following best supports the idea that The Attic Trunk's mature, wealthy
clientele can remain a viable target market?
A) Older, first generation Hispanic consumers are not especially family-oriented.
B) Older, first-generation Hispanic consumers favor sellers who show special interest in
them.
C) Older, first generation Hispanic consumers tend to be very price conscious.
D) Older, first generation Hispanic consumers tend to display little brand loyalty.
E) Older, first generation Hispanic consumers are motivated by mainstream marketing.
Answer:
Which of the following marketing orientations 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) the product concept
B) the production concept
C) the selling concept
D) the marketing concept
E) the societal marketing concept
Answer:
Carey David's wholesale company helps retailers train salesclerks, improve store
layouts and displays, and set up inventory control systems. According to this
information, which of the following wholesaler's channel functions does Carey David
provide?
A) buying and assortment building
B) selling and promotion services
C) risk bearing services
D) marketing information
E) management services and advice
Answer:
Which of the following is the most effectivebut most expensiveway to introduce a new
product or create new excitement for an existing one?
A) coupons
B) sampling
C) cash refunds
D) cents-off deals
E) satisficing
Answer:
Which of the following is the final step of the marketing research process?
A) developing the research plan
B) implementing the research plan
C) interpreting and reporting the findings
D) selecting a research agency
E) defining the research objectives
Answer:
Sears, Target, and Kroger are examples of ________.
A) voluntary chains
B) retailer cooperatives
C) corporate chains
D) franchise organizations
E) warehouse clubs
Answer:
A competitor analysis requires the assessment of all of the following EXCEPT the
competitors' ________.
A) objectives
B) organizational hierarchy
C) strategies
D) strengths and weaknesses
E) reaction patterns
Answer:
To plan effective marketing strategies, a company needs to find out all it can about its
competitors. It must constantly compare its marketing strategies, products, prices,
channels, and promotions with those of close competitors. This is an example of
________.
A) blue ocean strategy
B) competitor analysis
C) organizational evaluation
D) perfect competition
E) quantitative analysis
Answer:
Gaining ________ requires delivering more value and satisfaction to target consumers
than competitors do.
A) competitive advantage
B) first-mover advantage
C) economies of scale
D) comparative advantage
E) differentiation
Answer:
Companies that take a proactive stance toward the marketing environment are most
likely to ________.
A) develop strategies to change the environment in their favor
B) passively accept the marketing environment
C) resist organizational change
D) discourage innovation
E) consider technological advances more disruptive than beneficial
Answer:
Stores such as Walmart, Best Buy, PetSmart, David's Bridal, and DSW Shoes use
________ positioning.
A) more for the same
B) more for less
C) same for less
D) less for much less
E) more for more
Answer:
________ is the most basic determinant of a person's wants and behavior.
A) Culture
B) Brand personality
C) Cognitive dissonance
D) Motive
E) Attitude
Answer:
Green Gardens is a click-and-mortar company that sells gardening and landscaping
goods and equipment. When customers are unable to find a product they need on the
shelves of their local Green Gardens store, customers order the product online with the
help of the in-store ordering machine. Which of the following best describes the
ordering machine?
A) kiosk
B) digital catalog
C) podcast
D) tablet
E) online networks
Answer:
Which of the following industrial structures presents the fewest market opportunities?
A) subsistence economies
B) raw material exporting economies
C) industrializing economies
D) emerging economies
E) industrial economies
Answer:
Which of the following is true about survey research?
A) It involves sending observers to watch and interact with consumers in their natural
environments.
B) It is best suited for gathering causal information.
C) It involves selecting matched groups of subjects, giving them different treatments,
controlling related factors, and checking for differences in group responses.
D) The level of flexibility in survey research is lower than most other research
methodologies.
E) Survey research is the most widely used method for primary data collection.
Answer:
Many companies use ethnically specific themes in their mainstream marketing strategy
because marketers have realized that insights gleaned from ethnic consumers can
influence their broader markets. This type of marketing is known as ________
marketing.
A) cross-cultural
B) buzz
C) social network
D) word-of-mouth
E) life-style
Answer:
Which of the following would a marketer LEAST likely do to encourage habitual
buying behavior?
A) dominate shelf space
B) run frequent reminder ads
C) keep shelves fully stocked
D) stress unique features in ads
E) offer lower prices and coupons
Answer:
A(n) ________ is a segment of the population selected for marketing research to
represent the population as a whole.
A) focus group
B) immersion group
C) primary group
D) sample
E) secondary group
Answer:
________ means that service quality depends on the quality of buyer-seller interaction
during the service encounter.
A) Interactive marketing
B) Service differentiation
C) Service productivity
D) Corporate image marketing
E) Traditional external marketing
Answer:
Which of the following is true with regard to brand equity?
A) Brand equity refers to how much consumers know about the brand.
B) High brand equity provides a company with many competitive advantages.
C) A brand has positive brand equity if consumers react less favorably to it than to an
unbranded version.
D) Positive brand equity derives from low brand esteem.
E) The total financial value of a brand can be easily measured.
Answer:
