When a company chooses a target marketing strategy for a product, its choices are most
likely influenced by the product’s life-cycle stage.
With a vendor-managed inventory system, the supplier takes full responsibility for
managing inventories and deliveries.
The income distribution in the United States is equal across all demographics.
An SBU can be a company division or a product line within a division, but not a single
product or brand.
If demand is elastic rather than inelastic, sellers typically consider increasing their
prices.
Mobile marketing is an unsuitable tool for triggering an immediate purchase from a
consumer.
Department stores carry narrow product lines with deep assortments within those lines.
A break-even chart shows the total cost and total revenue expected at various sales
volume levels of a product.
A tool for identifying growth opportunities is the product/market expansion grid.
A consumer product that is used for business purposes is referred to as an industrial
product.
The Internet is forcing companies toward more standardized international pricing.
In an administered VMS, the producer assumes the leadership position in a distribution
channel by default.
Marketing critics claim that the overselling of private goods results in social costs.
Club marketing programs reward customers who buy frequently or in large amounts.
Sales-force automation systems enable salespeople to profile prospects, forecast sales,
and prepare expense reports.
Marketing is managing profitable customer relationships.
The product concept holds that consumers will favor products that offer the most in
quality, performance, and innovative features.
Service variability means that the quality of services does not depend on who provides
them.
Straight product extension refers to marketing a product as is and finding customers for
it.
Howard Genks works as a sales representative for Med-Tex, a firm that manufactures
hospital supplies. Recently, a prospective buyer walked into the Med-Tex store seeking
beds for the children’s ward in his private clinic. Howard quickly showed the client the
range of beds available that were designed specifically for children. In which of the
following steps of the selling process was Howard?
A) prospecting
B) qualifying
C) follow-up
D) handling objections
E) presentation and demonstration
Which of the following is most likely true about business legislation?
A) Business laws are enforced only in international markets and not in local markets.
B) Business laws fail to prevent unfair competition among the different companies in a
market and tend to encourage monopolies.
C) Business laws usually remain constant over time.
D) Local, national, and state business laws rarely overlap with one another.
E) Business laws that are enforced by government agencies have a major impact on a
company’s marketing performance.
A ________ is made up of a company, its suppliers, distributors, and, ultimately,
customers who “partner” with each other to improve the performance of the entire
system.
A) manufacturing chain
B) distribution center
C) marketing intermediary
D) value delivery network
E) disintermediation system
Which of the following is an example of an unsought product?
A) furniture
B) laundry detergent
C) refrigerator
D) toothpaste
E) life insurance
Which of the following statements is true of retailing?
A) All retail stores are full-service retail stores.
B) A department store has a narrow product line with a deep assortment.
C) The largest type of retail outlet is a supermarket.
D) Services like hotels, banks, airlines, restaurants, colleges, and hospitals can be
retailed.
E) A feature common to all types of retail stores is the use of the everyday low pricing
strategy.
Which of the following statements is true of industrial economies?
A) They export their goods to other types of economies for raw materials.
B) They have a declining middle class population.
C) They depend on agriculture as the primary revenue generator.
D) They do not trade goods amongst themselves.
E) They consume most of their output and barter the rest for simple goods and services.
In which of the following steps of the selling process does a salesperson seek out,
clarify, and overcome any customer disapproval to buying?
A) handling objections
B) closing
C) follow-up
D) prospecting and qualifying
E) preapproach
Using ________, researchers measure consumer responses to new products and
marketing tactics in laboratory stores or virtual online shopping environments.
A) simulated test markets
B) controlled test markets
C) business analysis
D) standard test markets
E) concept development
Orion Steel is the chief provider of metals to Accline Cars, which manufactures two
models of vehicles’“cars and large buses. Accline dealers sell the firm’s cars to
individual citizens, but buses are sold directly to government entities. In such a
distribution channel, which of the following would be considered a vertical conflict?
A) a conflict between Orion Steel and Accline Cars
B) a conflict between Orion Steel and Accline dealers
C) a conflict between two Accline car dealers
D) a conflict between Accline dealers and government entities
E) a conflict between Accline Cars and its dealers
The Toby’s chain of first-class department stores carries a wide range of product lines,
including clothing, jewelry, kitchenware, and home furnishings. Toby’s typically charge
higher prices on an everyday basis and then holds frequent sales and price promotions
to increase store traffic. Toby’s most likely uses ________.
A) self-service retailing
B) experiential retailing
C) high-low pricing
D) everyday low pricing
E) franchise retailing
Which type of channel arrangement does a franchise organization most likely follow?
A) administered vertical marketing system
B) horizontal marketing system
C) contractual vertical marketing system
D) corporate vertical marketing system
E) direct marketing system
In a global value delivery network, the second link moves company products to
________.
A) distribution centers
B) wholesalers
C) market entry points
D) points of production
E) final buyers
The selling concept holds that ________.
A) consumers will not buy enough of a firm’s products unless the firm undertakes
large-scale persuasion and promotion efforts
B) a company’s marketing decisions should consider consumers’ wants, the company’s
requirements, consumers’ long-run interests, and society’s long-run interests
C) consumers will only favor products that are available and highly affordable
D) achieving organizational goals depends on knowing the needs and wants of target
markets and delivering the desired satisfactions better than competitors do
E) consumers will favor products that offer the most in quality, performance, and
innovative features
Which of the following is true about customer relationship management (CRM)?
A) It eliminates the need for primary research.
B) It minimizes the need for costly data mining.
C) It relies on the use of exploratory and causal research.
D) It consists of sophisticated software and analytical tools.
E) It excludes data on existing customers to focus on potential customers.
Demographic, economic, natural, technological, political, and cultural forces form the
________ of an organization.
A) supply chain
B) macroenvironment
C) marketing intermediary network
D) internal environment
E) microenvironment
Which of the following is true about the introduction stage of a new product?
A) Profits are typically high.
B) Promotion spending is relatively low.
C) Less money is needed to attract distributors.
D) Companies tend to avoid basic versions of the product.
E) Sales growth tends to be slow.
The dependence of service quality on the quality of the buyer’”seller communication
during the service encounter is referred to as ________ marketing.
A) horizontal
B) interactive
C) advocacy
D) social
E) internal
Which of the following is an example of a firm utilizing public relations as a promotion
tool?
A) a firm using its personal sales force at an expo to sell its products
B) a firm sending its catalog directly to customers through e-mail
C) a firm informing customers of special discounts on its Web site
D) a firm providing interesting information about a product to the news media
E) a firm using a celebrity to endorse a product in a television commercial
Which of the following has the primary function of helping a company target and
promote its products to the right markets?
A) marketing services agencies
B) resale marketers
C) service providers
D) physical distribution firms
E) credit companies
Robert Solis is a salesman in a company that specializes in event management. He uses
the Internet to identify potential companies with which his company can build
long-term profitable relationships. Which step in the selling process does this scenario
depict?
A) demonstration
B) preapproach
C) prospecting
D) approach
E) presentation
Which of the following is part of the microenvironment of a firm’s marketing
environment?
A) the political state of the country in which the firm exists
B) the cultural forces that exist in a society
C) the suppliers who work with the company
D) the technological resources available to the company
E) the different demographic trends in the market
A ________ sales-force structure combines several types of sales force organizations.
A) market
B) simple
C) product
D) territorial
E) complex
________ have filled the ultralow-price, high-volume gap by buying at
less-than-regular wholesale prices and charging consumers less than retail.
A) Off-price retailers
B) Specialty stores
C) Convenience stores
D) Designer shops
E) Full-service retailers
Which of the following is true of marketing ROI?
A) Marketing ROI uses only those marketing factors that can be measured in dollars.
B) Marketing ROI ignores customer-centered measures of marketing impact, such as
customer acquisition and retention.
C) Marketing ROI is easier to calculate than financial ROI.
D) Marketing ROI cannot be assessed in terms of standard marketing performance
measures, such as brand awareness, sales, or market share.
E) Marketing ROI measures the profits generated by investments in marketing
activities.
Identify a few situations in which price cuts or price increases might be necessary.
What are marketing intermediaries? What are the different types of marketing
intermediaries?
What are the different functions of a public relations (PR) department?
Differentiate between intranets and extranets. How are such systems beneficial to
marketing managers?
Explain the major benefits of direct and digital marketing for both customers and
sellers.
How can companies help marketers act ethically when faced with ethical dilemmas?
Explain how the Internet has transformed the way in which we do business today.
What is a sustainability vision?
What is a business portfolio? How does a company typically conduct a portfolio
analysis?