Salespeople called outside order takers __________.
A. arrange point-of-purchase displays
B. sell products tailored to the needs
C. help design the product displays
D. train the personnel management
E. solve most of the technical problems
Answer:
Inelastic demand exists when
A. a small percentage decrease in price produces a smaller percentage increase in
quantity demanded.
B. a small percentage increase in price produces a larger percentage increase in quantity
demanded.
C. an increase in price is impossible due to government restrictions.
D. the quantity demanded remains the same regardless of any changes in marketing
strategies.
E. a small percentage decrease in price produces a smaller percentage increase in
quantity supplied.
Answer:
Developing a pool of concepts to serve as candidates for new products is the
__________ stage of the new-product process.
A. open innovation
B. screening and evaluation
C. product development
D. new-product strategy development
E. idea generation
Answer:
An organization that focuses its efforts on continuously collecting information about
customers’ needs, sharing this information across departments, and using it to create
customer value is said to have a
A. product orientation.
B. macroeconomic orientation.
C. market orientation.
D. industry orientation.
E. societal marketing orientation.
Answer:
Brand managers can strategically use Twitter to do all of the following EXCEPT:
A. respond to user criticisms about a brand.
B. re-tweet positive customer comments.
C. generate brand buzz by developing an official Twitter profile.
D. tweet on topics that provide information of value to their customers.
E. post user profiles for job seekers.
Answer:
All of the following are examples of marketers developing products and services that
use augmented reality EXCEPT:
A. clothing retailers allow consumers to take pictures of themselves and then
superimpose images of clothing on them.
B. IBM created an app that enables smartphone users to take a picture of a product they
are interested in, then displaying information about that item on the screen based on
their preferences (price, nutritional value, etc.).
C. IKEA’s new catalog allows consumer to access 3D models and videos through a
tablet image recognition app.
D. Aurasma has developed pattern recognition software that can identify real-world
objects, which then activates animations for consumers to view.
E. Apple’s iTV allows viewers to take a picture or video of themselves and then places
it in an online, holographic reality TV programs, such as Survivor.
Answer:
While many commercials that use sex appeals gain the attention of the audience, they
A. do not always lead to changes in consumers’ recall, recognition, or purchase intent.
B. contain no information to help consumers.
C. do not appeal to either men or women.
D. wear out quickly, boring the consumer.
E. don’t appeal to the Generation Y cohort.
Answer:
The transit authority in Orlando uses a wireless system to receive advertising for
flat-screen monitors mounted in its buses. These ads are examples of __________.
A. mobile advertising
B. place-based billboards
C. mobile signage
D. transit advertising
E. transportation advertising
Answer:
At the __________ of the consumer purchase decision process, a consumer compares
the product with his or her expectations and is either satisfied or dissatisfied.
A. problem recognition stage
B. information search stage
C. alternative evaluation stage
D. purchase decision stage
E. postpurchase stage
Answer:
A recent study by the Aberdeen Group analyzed which segmentation bases were used
by the 20 percent most profitable organizations of the 220 surveyed. Which
segmentation base did these organizations use the most?
A. behavioral
B. psychographic
C. geographic
D. demographic
E. product
Answer:
Everyday low pricing refers to
A. the pricing strategy of extreme value stores to maintain high price-quality images for
the products they sell.
B. the pricing strategy of starting a product at standard list price and then lowering the
price by a certain percentage until it is sold.
C. short-term price reductions when consumer demand takes a significant and
unexpected dip.
D. the practice of replacing promotional allowances with lower manufacturer list prices.
E. a form of predatory pricing used solely for the purpose of undercutting competitors’
prices.
Answer:
A __________ is essentially a sequence of linked suppliers and customers in which
every customer is, in turn, a supplier to another customer until a finished product
reaches the ultimate consumer or industrial user.
A. logistical flow
B. demand chain
C. supplier-customer alliance
D. supply chain
E. supply pipeline
Answer:
The subsegment of all Internet users who employ this technology to research products
and services and make purchases is referred to as
A. digital consumers.
B. online consumers.
C. cyberspace consumers.
D. cross-channel consumers.
E. multichannel consumers.
Answer:
VALS Framework
VALS creates profiles of people based on their primary motivation and resources. In the
VALS framework above, E refers to
A. Ideals.
B. Achievement.
C. Self-Expression.
D. Survivors.
E. Innovators.
Answer:
According to the textbook, JCPenney buys paper for which of the following
medium(s)?
A. in-store signage
B. special advertising inserts in magazines such as Cosmopolitan
C. newspaper inserts and direct mail pieces
D. annual and 10K reports
E. point-of-purchase displays
Answer:
You are a researcher for a major marketing research consulting firm. A client needs an
NAICS code to get the most detail about industry competitors that operate in Canada,
Mexico, and the U.S., but there are very few competitor firms in Mexico. Which of the
following levels of classification would provide the greatest detail about the firms
within this industry?
A. Code 51
B. Code 517
C. Code 5172
D. Code 51721
E. Code 517212
Answer:
Figure 6-5
Figure 6-5 above outlines the distribution channels through which a product
manufactured in one country must travel to reach its destination in another country.
Channels of distribution in global marketing are often long and complex. Box A
represents the __________ and Box B identifies the __________.
A. seller; exporter
B. seller; seller’s international marketing headquarters
C. seller international marketing headquarters; channels between nations
D. channels between nations; channels within foreign nation
E. channels within foreign nation; foreign retailer
Answer:
Five trends in the past decade have significantly influenced the landscape of global
marketing. One of them is
A. an increase in most countries’ GDPs coupled with an increased degree of consumer
ethnocentrism.
B. a significant increase in economic protectionism and a decline in free trade.
C. a more aggressive attitude toward initiating international tariffs and quota systems.
D. a decrease in most countries’ GDPs and a renewal of nationalism.
E. a decline in economic protectionism by individual countries.
Answer:
Intermediaries performing a transactional function in distribution are engaged in
buying, selling, and __________.
A. storing
B. financing
C. transporting
D. risk taking
E. merchandising
Answer:
Marketers at Volkswagen in Istanbul created a little digital flip film out of some 200
photos to tout the prowess of their new truck, the Amarok, hoping it would be a clever
way to get people to engage. This action is an example of Volkswagen’s marketing
A. tactics.
B. missions.
C. visions.
D. strategies.
E. customer values.
Answer:
Filmmakers want movie titles that use the same factors that make a good brand name.
They must be __________.
A. creative
B. familiar
C. concise
D. alliterative
E. easy to remember
Answer:
When developing the advertising program, specifying the advertising objectives helps
advertisers with other choices in the process such as selecting media and __________.
A. identifying the target audience
B. evaluating a campaign
C. designing the advertising
D. pretesting the advertising
E. scheduling the advertising program
Answer:
What is the last stage of the organizational buying decision process?
A. information search
B. postpurchase behavior
C. alternative evaluation
D. purchase decision
E. purveyor review
Answer:
A formula selling presentation refers to a format that
A. emphasizes probing and listening by the salesperson to identify needs and interests
of prospective buyers.
B. focuses on problem identification, where the salesperson serves as an expert on
problem recognition and resolution.
C. consists of information that must be provided in an accurate, thorough, and
step-by-step manner to inform the prospect.
D. assumes that given the appropriate stimulus by a salesperson, the prospect will buy.
E. relies on exhibits at trade shows, professional meetings, and conferences.
Answer:
The marketing mix refers to
A. the multiple sales and advertising strategies that can be used to promote a product.
B. the controllable forces – social, economic, technological, competitive, and regulatory
– to which a marketing manager must constantly adapt.
C. the blending of different communication and delivery channels that are mutually
reinforcing in attracting, retaining, and building relationships with consumers who shop
and buy in traditional intermediaries and online.
D. the marketing manager’s controllable factors that can be used to solve marketing
problems.
E. a set of complementary products that when sold together generate more sales than
when sold separately.
Answer:
A group of 50 to 150 stores, often containing two or three anchor stores, that typically
attracts customers who live or work within a 5- to 10-mile range, is referred to as a(n)
__________.
A. power center
B. regional shopping center
C. strip mall
D. central business district
E. urban megacenter
Answer:
Intensive distribution refers to
A. the distribution of products or services in markets where there are currently no other
competitors.
B. the distribution of products or services where the producer owns the entire channel
of distribution.
C. the density of distribution whereby a firm tries to place its products or services with
only one retail outlet in a specified geographical area.
D. the density of distribution whereby a firm tries to place its products or services in as
many outlets as possible.
E. the density of distribution whereby a firm tries to place its products or services in a
few retail outlets in a specific area.
Answer:
Figure 1-2
In Figure 1-2 above, “B” is accomplished by __________.
A. designing a marketing program
B. conducting marketing research
C. discovering consumer needs
D. developing a distribution strategy
E. identifying target markets
Answer:
Wholesalers who simply solicit orders from retailers and other wholesalers and have the
merchandise shipped directly from a producer to a buyer are referred to as __________.
A. cash and carry wholesalers
B. rack jobbers
C. drop shippers
D. truck jobbers
E. manufacturer’s representatives
Answer:
Figure 5-6B
As shown in Figure 5-6B above, what type of online auction does one buyer and many
sellers typify?
A. forward auction.
B. reverse auction.
C. traditional auction.
D. vertical auction.
E. bidder’s war.
Answer:
There are four common approaches to selecting an approximate price level. List and
provide a brief description for each one.
Answer:
Explain what a planning gap is and what is used to close it.
Answer:
Explain the relationship between a franchisee and a franchisor.
Answer:
What are the primary differences between an ultimate consumer and an organizational
buyer? Select one product and explain the differences in either its use or purchase,
depending on whether it was purchased by an ultimate consumer or an organizational
buyer.
Answer:
What is the difference between intangibility and inseparability of services?
Answer:
Briefly explain the best-known statistical method, trend extrapolation, used by
marketers to develop a company’s sales forecasts. In your explanation, explain the
strengths and weaknesses of using this method.
Answer:
What are the three performance measures brand managers typically use to assess the
inputs or costs of social media? In your response, provide an example of what the
payment terms would be for an advertiser. Also, identify the advantages and
disadvantages of each metric.
Answer:
List two advantages and two disadvantages of using yellow pages, the Internet, and
billboards (outdoor) for advertising.
Answer:
Explain what online companies are doing to address consumer worries about privacy
and security when shopping online.
Answer:
Characterize the difference between a product line and a product mix. Give an example
of each.
Answer:
Explain how marketspace creates value for consumers in terms of the four utilities.
Answer:
Why can’t a marketing manager’s decision-making process stop when he or she has
chosen the best alternative to solving a problem?
Answer:
Thirsty Dog! Thirsty Cat! Ad
The Thirsty Dog! & Thirsty Cat! ad above shows an example of a product that failed in
the marketplace. Identify and describe the reason(s) for this unique item’s
marketing-related product failure.
Answer:
The logistics industry has sales of $800 billion per year. If a third party logistics
provider had sales of $8 billion, what would its market share be? Be sure to define
market share and show your work in your answer.
Answer:
What are the six broad objectives that an organization may pursue that tie in directly to
its pricing policies?
Answer:
The Apple iPhone is rated by Consumer Reports as being one of the best smartphones
in the industry. Define customer value. In what ways do you think the Apple iPhone
provides value for its customers?
Answer:
Explain the steps in the evaluation phase of the strategic marketing process.
Answer:
List four key factors used to estimate demand.
Answer:
The American railroad industry faced a serious decline in the 20th century. What
business did rail executives believe they were in at that time? What business is a
railroad company really in? Why is the difference important?
Answer: