Online and other e-learning approaches increase the costs of training salespeople.
The affordable method of setting an advertising budget depends on the total revenues of
a company.
Many companies have started to target the LGBT market segment which has significant
buying power.
The Four Ps concept takes into consideration the seller’s view of the market.
The National Do Not Call Registry is managed by the Federal Trade Commission.
Support services are an important part of a customer’s overall brand experience.
The most common evaluation method of a sales promotion program is to compare sales
before, during, and after a promotion.
Test marketing gives management the information needed to make a final decision
about whether to launch a new product.
The Great Recession put heavy pressure on wholesalers to increase their operation costs
and limit warehouse automation systems.
The primary objective of trade promotions is to motivate salespeople.
After the Great Recession, marketers have started focusing on value-for-the-money,
practicality, and durability in their product offerings and marketing pitches.
The objective of exploratory research is to test hypotheses about cause-and-effect
relationships.
Inside salespeople use the phone, Internet, and social media to find new leads and learn
about customers and their businesses.
Unlike shopping products, convenience products are purchased less frequently.
The Internet is especially well suited to qualitative research.
A multichannel marketing system is one in which a producer sells to multiple markets
using the same distributional channel.
When a firm varies the price of a product by the season, month, day, or even hour,
without changing product features, it is using ________ pricing.
A) product form
B) market-penetration
C) market-skimming
D) time-based
E) value-added
Which of the following is the most financially strapped generation in the post-recession
era?
A) the Millennials
B) Generation X
C) Generation Z
D) the Lost Generation
E) the baby boomers
Secure is a financial services and insurance company. The company’s most profitable
division is one that sells the Secure Future Plan. The Secure Future Plan targets
customers who are entering retirement and want long-term savings so they can remain
financially independent in the later years of their life. The marketing team at Secure has
most likely targeted the plan at ________.
A) Millennials
B) baby boomers
C) Generation Xers
D) Generation Zers
E) the Lost Generation
Which of the following is a promotion tool used for trade promotions?
A) sweepstakes
B) price packs
C) conventions
D) rebates
E) allowances
What is the last step in the selling process?
A) follow-up
B) closing
C) handling objections
D) presentation
E) prospecting
Allstocks.com is an online retailer that buys furniture, clothing, electronics, and more
from a variety of producers at less-than-regular wholesale prices. Allstocks then charges
customers less than retail. Allstocks is an example of a(n) ________.
A) specialty retailer
B) independent off-price retailer
C) departmental retailer
D) full-service retailer
E) category killer
The third part of a marketing strategy statement describes the ________ of a new
product.
A) profit goals
B) distribution
C) marketing budget
D) planned value proposition
E) target market
There are more than 20 stores on a street in Sao Paulo that specialize in selling the same
quality and brand of wheat products. An individual seller cannot charge more than the
going market price without the risk of losing business to the other stores. What type of
market does this example represent?
A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) a pure monopoly
E) a black market
________ means that consumers are likely to remember good points made about a
brand they favor and forget the good points made about competing brands.
A) Selective retention
B) Selective distortion
C) Selective attention
D) Restraint bias
E) Subliminal perception
Which of the following is true of free trade zones?
A) They are groups of nations organized to work toward common goals.
B) They were formed to increase trade barriers between member nations.
C) They were formed to mediate global trade disputes.
D) They require member countries to establish one currency.
E) They tend to improve imports and hinder exports.
________ are online journals where people and companies post their thoughts and other
content, usually related to narrowly defined topics.
A) Blogs
B) Catalogs
C) Search engines
D) Spam posts
E) Viral messages
Henry Ford’s philosophy was to perfect the Model-T so that its cost could be reduced
further for increased consumer affordability. This most likely reflects the ________.
A) customer-driving marketing concept
B) marketing concept
C) societal marketing concept
D) production concept
E) selling concept
Which of the following is most likely a true statement about services?
A) Services can be stored for later sale or use.
B) Service quality is not dependent on the provider.
C) Services can be easily separated from their providers.
D) A service is intangible before it is purchased.
E) Demand fluctuation has little to no impact on service providers.
Which of the following has been limited in recent years by the implementation of the
National Do Not Call Registry?
A) calls by nonprofit groups
B) business-to-business telemarketing
C) unsolicited outbound telemarketing by businesses
D) inbound telephone marketing
E) “opt-in” calling systems
Which of the following is the first step in developing an advertising program?
A) setting the advertising budget
B) developing an advertising strategy
C) developing a brand message
D) setting advertising objectives
E) evaluating advertising campaigns
According to the product concept, a company should ________.
A) make products that contribute to the long-term welfare of society
B) market only those products that have high customer appeal
C) focus on a target market and make products that meet those customers’ demands
D) devote its energy to making continuous product improvements
E) make product promotion a top priority
________ is an organized movement of citizens and government agencies to improve
the rights and power of buyers in relation to sellers.
A) Environmentalism
B) Proactivism
C) Affirmative action
D) Consumerism
E) Liberalism
Discuss the methods used by marketing researchers to gather secondary data.
A company designs what it considers to be a good product, calculates the expenses of
making the product, and sets a price that adds a standard markup to the cost of the
product. This approach to pricing is called ________ pricing.
A) value-added
B) good-value
C) cost-plus
D) competitor-based
E) break-even
A marketing intermediary would most likely help a firm by ________.
A) negotiating with labor unions regarding wages, hours, and benefits
B) providing technical expertise on the production and design of goods
C) competing directly with the firm in a certain product category
D) supplying the raw materials needed for manufacturing the firm’s products
E) moving the firm’s goods from production points to distribution centers
The Generation Zers completely disregard traditional media.
Clusters of marketable groups of customers with similar likes, dislikes, lifestyles, and
purchase behaviors can be identified by multivariable segmentation systems that merge
and analyze geographic, demographic, lifestyle, and behavioral data.
Which of the following is most likely the cheapest and quickest means to collect data
for marketing research?
A) utilizing external agencies for research
B) seeking marketing intelligence inputs from partnering firms
C) seeking data regarding strategies adopted by competitors
D) utilizing internal databases to gather sales data
E) hiring a reputed firm to conduct a market analysis
Which of the following is most likely true about the digital age with regards to
marketing?
A) The number of businesses connecting people over digital networks is in decline.
B) Digital networks allow marketers many ways to build customer relationships.
C) The Internet has had little impact on the ways consumers purchase products.
D) Most firms are shifting back to traditional marketing forms to build customer value.
E) Online-only marketing is more commonly used by firms than multichannel
marketing.
What is crowdsourcing? How is crowdsourcing useful in new product development?
Explain with examples how the political-legal environment of a country affects a global
firm.
Differentiate between standardized global marketing and adapted global marketing.
Describe the advantages and disadvantages of each strategy.
Give an instance where a company exhibits social responsibility through business.
Explain product invention with the help of suitable examples.