On his way to a GM dealership to pick up a new truck he has purchased, Ian Mann
hears a Ford ad that says that Ford trucks have more power than Chevy trucks. Ian
thought that the ad said that the Chevys had more power. This illustrates
A. selective perception.
B. learning.
C. selective retention.
D. reinforcement.
E. selective exposure.
A firm with a stockturn rate of 5 that sells products that cost it $150,000 per year is
keeping an average of _____ worth of inventory.
A. $75,000
B. $150,00
C. $750,000
D. $4,000
E. $30,000
Which of the following statements about “needs” is true?
A. A higher level need may develop before lower level needs are all satisfied.
B. If lower level needs are reasonably satisfied, those at higher levels become more
dominant.
C. A particular product may satisfy more than one need at the same time.
D. All of these statements about “needs” are true.
An emphasis on a single country’s interests before everything else is known as
A. socialism.
B. democracy.
C. nationalism.
D. capitalism.
E. entrepreneurship.
The _____ step in the new-product development process could involve research and
development as well as engineering to design and build the physical part of the product.
A. screening
B. idea evaluation
C. roll out
D. commercialization
E. development
Which of the following statements regarding marketing’s influence on values is False?
A. Many companies refuse to use ads that would be offensive to their target customers.
B. Marketing never elevates the wrong values.
C. Many companies work hard to determine their customers’ beliefs and values.
D. Marketing tends to reflect social values in the short run.
E. Marketing tends to reinforce and enhance social values in the long run.
A good marketing manager for a retailer knows that:
A. economic needs are more important than emotional needs in choosing a store.
B. shopping atmosphere has little comparative importance.
C. consumers only go to stores that offer the lowest possible prices.
D. individual consumers have different economic and emotional needs.
E. All of these alternatives are true.
Which of the following statements about the prepared sales presentation is False?
A. It may contain several attempts to close a sale.
B. It is not adapted to an individual customer’s needs.
C. It makes sense for experienced salespeople to use it.
D. The salesperson does most of the talking.
E. It is not considered a good approach for complicated selling situations.
Concerning product life cycles:
A. each of a producer’s individual products follows the life cycle pattern.
B. in the early part of market maturity, new products begin to replace the old.
C. the stages usually have varying lengths.
D. in general, life cycles are getting longer.
E. None of these alternatives is true.
A regional manager for a chain of auto parts stores visits one of the stores in the chain.
He looks in the store’s warehouse and finds about 100 cases of motor oil that have been
sitting in the warehouse for over one year. Upon inspection, he finds that in each case,
one of the twelve cans of oil has leaked, thus soaking through the box and making the
case unfit for sale. The regional manager instructs the store manager to unpack all of the
cases, discard the leaking cans, clean up the remaining cans, and to contact the oil
company for new boxes. He tells the store manager to repackage the remaining cans in
the new boxes and to sell the cases to customers at the retailer’s cost with no added
markup. He explains to the store manager that moving this inventory will not result in
immediate profit, but that it will benefit the store by improving the:
A. Markup.
B. Markup rate.
C. Markup percent.
D. Stockturn rate.
E. Break-even point.
Packaging
A. can serve as a useful enhancement tool.
B. can increase costs to the consumer.
C. can serve as a useful promotional tool.
D. is concerned with protecting the product in shipping and on the shelf.
E. All of these alternatives are correct.
Which of the following is NOT a business raw material?
A. Logs.
B. Coal.
C. Wheat.
D. Cattle.
E. All of these are business raw materials.
The three basic sales tasks are:
A. order-closing, order-opening, and sales-promoting.
B. order-taking, missionary selling, and order-getting.
C. order-taking, order-managing, and order-getting.
D. order-taking, supporting, and order-getting.
E. order-closing, supporting, and order-promoting.
Collaborators
A. specialize in trade rather than production.
B. usually have a production orientation.
C. emerged in the marketing company era.
D. are only used in a command economy.
E. facilitate or provide one or more of the marketing functions other than buying or
selling.
You have several umbrellas in your closet at home, but when it’s raining hard and you’re
stranded on Market Street in San Francisco you need a new umbrella fast. What type of
consumer product is your new umbrella?
A. Emergency product.
B. New unsought product.
C. Staple.
D. Specialty product.
E. Shopping product.
The phrase “big data” refers to:
A. the top five firms in the marketing research industry.
B. the massive amount of data being collected and processed by today’s organizations.
C. the use of market research in big marketing decisions.
D. marketing research data taken from Internet sources.
E. market information taken from the U.S. Census.
_____ can be used as a rough measure of a firm’s efficiency in satisfying customers.
A. Production
B. The marketing mix
C. Profits
D. Macro-marketing
E. Returns
General summaries of overall marketing cost data
A. may hide problems rather than highlighting them.
B. are usually the key to identifying how to improve the marketing plan.
C. should not be too detailedsince detailed analysis requires allocating costs that are
actually fixed.
D. are usually enough to reveal areas where changes are needed.
E. All of these are true.
A sales rep might use new software for ______________ to provide a competitive
advantage.
A. sales forecasting
B. spreadsheet analysis
C. electronic presentations
D. customer contacts
E. Any or all of these software could help provide a competitive advantage
Limited-function wholesalers:
A. usually cost more than single-line wholesalers.
B. include manufacturers’ agents.
C. own (take title to) the products they sell.
D. usually cost more than specialty wholesalers.
E. All of these alternatives are correct for limited-function wholesalers.
Dell, Inc. wants to offer customers televisions in addition to computers. This is a change
in its _____________________ strategy.
A. pricing
B. promotional
C. personnel
D. product
E. placement
According to the text, segmenting:
A. is a disaggregating or “breaking down” process.
B. assumes that each person should be treated as a separate target market.
C. assumes that all customers can be clustered into profitable market segments.
D. is an aggregating process.
E. uses scientific rules to decide how many submarkets exist.
As a product moves through its product life cycle stages:
A. price cutting tends to decrease.
B. competition tends to move toward monopoly.
C. distribution moves from intensive to selective.
D. promotion tends to become less informative and more persuasive.
E. All of these alternatives are correct.
In which of the following countries would retailers be most likely to sell products in
small quantities, to small numbers of consumers?
A. Austria
B. Nepal
C. South Korea
D. Japan
E. Ireland
Regarding new-product development, market tests:
A. are used mostly for durable products because of their high production costs and
risks.
B. seek customer reactions to ideasnot actual products.
C. should test the product and specific marketing mix variables.
D. are not very costly, but take a long time to do.
E. None of these alternatives is correct.
In the purchase of a new computer monitor, which of the following is an example of a
user?
A. A purchasing manager who arranges the terms of the sale.
B. An IT manager who supplies information for evaluating alternatives.
C. A secretary whose computer monitor is being replaced.
D. A receptionist who controls the flow of information.
E. A supply manager who helps write specifications.
Cash discount terms of 2/10, net 60 on an invoice wouldin effectamount to borrowing at
an annual interest rate of about ________ percent if the buyer did not pay the invoice
for 60 days.
A. 22
B. 72
C. 14
D. 18
E. 36
Marketing managers want market segments to have each of the following
characteristics EXCEPT:
A. As similar as possible within segments.
B. As different as possible between segments.
C. As numerous as possible.
D. Useful for identifying marketing mix variables.
E. Large enough to be profitable.
The total group a survey researcher is interested in is called the:
A. population.
B. sample.
C. study group.
D. representative group.
E. None of these choices is a good answer.
Marketing managers should view potential customers as
A. all alike.
B. all having the same needs.
C. always wanting to meet needs in the same way.
D. grouped into segments of similar consumers.
E. different types, but all having the same characteristics.
Which of the following is not relevant for international marketers who seek to
understand consumer behavior?
A. The pitfalls of stereotyping
B. Culture
C. Ethnicity
D. Social classes
E. Domestic trends