MGMT 446

Type

Quiz

Book Title

A Preface to Marketing Management 14th Edition

ISBN 13

978-0077861063

October 29, 2015

Postpurchase evaluation of a vendor and the product is necessary to:

A. determine the dues that are payable to the vendor.

B. compare the purchases of a firm with those made by competitors.

C. determine whether the vendor and the product is acceptable for future purchases.

D. know the strategic plan and the profits made by the company in a year's time.

Answer:

According to the general pricing model, in the short term, discounts and allowances

offered by manufacturers have to be larger or more frequent than initially planned

because:

A. there is an impending need to increase demand to profitable levels.

B. there is a need to prevent channel members from becoming independent

manufacturers.

C. the price structure that has been fixed cannot be reviewed at regular intervals.

D. there is only one way for money to flow out of firms through the price-product

mechanism.

Answer:

Zest Sports Inc. manufactures sports goods and recently introduced a new line of

sportswear for children between the ages of seven and ten years. The marketing team

envisions an entirely new marketing strategy to create exchange for its new line of

sportswear. This best exemplifies _____.

A. service marketing

B. product marketing

C. cause marketing

D. place marketing

Answer:

The employees of the WiseRumbles Library maintain a great relationship with their

customers. They recommend new books and magazines to customers based on

customers' tastes and preferences and the books previously borrowed by them. They

keep track of customers' birthdays and anniversaries in order to send birthday cards and

gift vouchers. This shows that employees at WiseRumbles Library are displaying

_____.

A. assurance

B. intangibility

C. uniformity

D. empathy

Answer:

_____ is a method of creating and managing the project teams, where groups in

different areas of the company simultaneously work on the project.

A. Skunkworks

B. Rugby approach

C. Idea equity

D. Out-rotation

Answer:

A group of university students are asked to fill a survey which requires them to rank

five different television advertisements on mobile software in the market in order of

their preference. The survey mentions that the parameters on which the advertisements

are to be rated include their credibility, the interest-level they generate, and their

attractiveness. The survey the students fill out is a typical example of a(n):

A. opinion test.

B. recall test.

C. awareness test.

D. recognition test.

Answer:

In the process of market segmentation, determining customer needs and wants is

immediately followed by:

A. dividing the organization's products into different product classes according to their

features for sale through a mass marketing mechanism.

B. designing the appropriate marketing mix strategies to be used for each segment.

C. delineating the firm's current situation which aids in developing marketing mixes.

D. grouping consumers on the basis of one or more similarities and treated as a

homogeneous segment of a heterogeneous total market.

Answer:

A company has developed a technologically complex traffic-management software. It is

very expensive and is being sold to be used by all the teams of an organization in

charge of managing a city's traffic. Specialized knowledge is required by all the units of

the buying organization in order to use the software optimally. The company is most

likely to use _____ in this situation.

A. missionary salespeople

B. technical sales specialists

C. cross-functional sales teams

D. hierarchical sales teams

Answer:

A drawback of using Internet surveys as a data collection method in marketing research

is that:

A. they take a long time to be executed.

B. they make real time data processing impossible.

C. they pose difficulties in generating sample frames for probability sampling.

D. they create a high degree of perceived intrusion as respondents cannot answer the

questions at their convenience.

Answer:

The major goal of most test marketing is to:

A. estimate the future sales potential of new products.

B. evaluate store layouts of a new store.

C. establish the placement of new products.

D. identify the location for a new store.

Answer:

Which of the following is an advantage for suppliers involved in sole sourcing?

A. It allows them to forecast a predictable and profitable demand.

B. It allows them to seek competitive bids for the products obtained by sole sourcing.

C. It allows them to slacken quality over time since a contract is established.

Answer:

PureFruit Inc. prices its products higher than most of its competing brands in the

packaged fruit juice industry. However, it still enjoys higher returns than its competitors

because it is the only brand that can rightfully claim the use of fresh fruits and no added

sugar. What kind of organizational strategy based on competitive advantage does

PureFruit most likely use?

A. A strategy based on market development

B. A strategy based on differentiation

C. A strategy based on cost leadership

D. A strategy based on diversification

Answer:

Healthline is a brand of incontinence products. Healthline products sell for $5 less than

their rival brand, Depends. According to Michael Porter's model, Healthline is most

likely using a _____ strategy to market its products.

A. differentiation

B. product development

C. market development

D. cost leadership

Answer:

Which of the following is generally considered to be a salesperson's best source of

prospects?

A. Referrals from advertisers

B. Referrals from satisfied customers

C. Referrals from spotters

D. Referrals from company employees

Answer:

Identify the element that refers to a consumer's perception of the importance or personal

relevance of an item.

A. Product features

B. Promotional influences

C. Product involvement

D. Product packaging

Answer:

In the context of the adopter categories of product diffusion, the biggest category of

buyers is divided into two groups called the:

A. innovators and the laggards.

B. laggards and the early adopters.

C. early majority and the late majority.

D. early majority and the innovators.

Answer:

Which of the following is true of wholesalers?

A. Owing to the distribution functions they perform, wholesalers do not need to actively

seek out producers.

B. Agents, brokers, and manufacturers' representatives are types of wholesalers that

take title to the merchandise they sell.

C. Wholesalers with track records that carry directly competing products and brands

can more easily attract manufacturers of successful products.

D. Wholesalers tend to lower costs for other channel members by assuming the risk of

managing large inventories.

Answer:

In order to compete with its counterpart, Fine Snacks, Kasey's Pretzels Corp. introduced

honey-mustard pretzels to its product line. This is an example of _____.

A. new-to-the-world products

B. new-to-the-firm products

C. additions to existing product lines

D. product repositioning

Authors C. Merle Crawford and Anthony DiBenedetto have developed a useful

definition of new products based on different product categories. Additions to existing

product lines are products that extend existing product lines to current markets. With

the introduction of a new product, namely, honey-mustard pretzels within the existing

product line of snacks, Kasey's Pretzels makes an addition to its existing product line.

Answer:

Which of the following is NOT a step in the marketing research process?

A. Preview of the research

B. Plan of the research

C. Performance of the research

D. Preparation of the research report

Answer:

In determining its mission statement, an organization must:

A. look at the business from the inside, from the point of view of the employee and the

management.

B. ensure that the name of the product or service it is producing is an essential part of

the organization's name.

C. reflect a market-driven approach by targeting a broad class of needs and segmented

target markets.

D. state the mission in terms of serving a generic group of clients or customers and

meeting generic, not specific, needs.

Answer:

A local hardware store owner is preparing an annual advertising budget for his firm.

While doing so, he considers his competitors' budgets as benchmarks and uses them to

make specific allocations to the promotion mix in his budget. He believes that other

established hardware firms in the industry know what they are doing and have goals

similar to his. Based on these factors, which of the following methods for establishing

an advertising budget is he most likely to use?

A. The all-you-can-afford approach

B. The task approach

C. The competitive parity approach

D. The research approach

Answer:

Quite often a situation or problem is recognized as needing research, yet the nature of

the problem is not clear or well defined, nor is the appropriate type of research evident.

In the context of the steps of the marketing research process, this problem immediately

lends itself to _____.

A. identifying the purpose of the research

B. conducting the research

C. preparing the research report

D. processing the research data

Answer:

Which of the following is an advantage of secondary data over primary data?

A. Secondary data is always available for strategy-specific research questions.

B. Secondary data sources are limited, making the information more valuable.

C. Secondary data is cheaper to obtain and utilize.

D. Secondary data is collected specifically for the research problem under investigation.

Answer:

Which of the following is a correct statement regarding the inseparability aspect of a

product?

A. Inseparable services can be inventoried.

B. Indirect channels of the promotion mix are more suitable to market services that are

inseparable.

C. Inseparability has an implication on issues dealing with the selection of channels of

distribution.

D. Inseparability occurs when goods and services are produced at one stage and

marketed at another stage.

Answer:

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