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Casey Brickly opened The Landing, a convenience store on the north shore of Witmer
Lake, in 1962. With a sandwich counter on one side and a bait shop and grocery on the
other, The Landing was an immediate hit with weekend lake visitors and local residents
alike. In the summer, boaters parked at the piers and bought all their fishing needs, such
as rods and reels, bait, snacks, and soft drinks at The Landing. Even during the winter
months, snowmobilers and ice fishermen were lured to The Landing for snacks and hot
coffee or hot chocolate.
As time passed, the business changed and grew tremendously. What was formerly a
weekend tourist area gradually became a full-fledged residential area. Many of the
houses, which were built as cottages in the 1950s and 1960s, were remodeled into
residential homes. By the end of the 1970s, the days of small motor boats and 10
mile-per-hour speed limits were gone; skiing and fast speed boats became the rage.
Through it all, The Landing continued to attract flocks of patrons.
In the 1980s, however, Casey started to realize that the grocery area in The Landing
could not compete with larger local retailers. He eventually enlarged the sandwich
counter, transforming the bait shop and grocery into a restaurant with a full menu
typical of any diner.
"Getting rid of the bait shop was hard to do," Casey admitted. "I still had a summer
crowd that relied on us for their fishing needs, but we couldn't survive a whole year on
four months of profit."
In the early 2000s, the atmosphere of Witmer Lake and the neighboring lakes became
upscale. "I could see that people were spending more on their speed boats than what
they had originally paid for their cottages!" Casey exclaimed. Many of the cottages
were inherited by children and grandchildren of the original owners. Once again, the
scene started to change as many of the lake houses were used only as weekend lake
homes. Unlike the previous generation, a vast number of the current owners could
afford to live closer to their jobs while maintaining lake homes. "At this point, business
wasn't growing," Casey said.
As local competition continued to increase, Casey converted the diner of The Landing
into a bar with a lounge area. "The change might have been too drastic," Casey said,
"but it was the only way we could maintain a strong, year-round business in spite of the
population shifts and competitive forces."
Which of the following microenvironment actors has had the most influence on The
Landing?
A) competitors
B) suppliers
C) marketing intermediaries
D) resellers
E) citizen-action publics
The two key economic factors reflecting a country's attractiveness as a market are its
industrial structure and its ________.
A) communication adaptation
B) nontariff trade barriers
C) exchange controls
D) income distribution
E) transportation systems
A company can ________ the SBU by selling it or phasing it out and using the
resources elsewhere.
A) divest
B) promote
C) expand
D) harvest
E) hold
In collecting primary data, marketing researchers have a choice of two main research
instruments, ________.
A) reference books and journals
B) questionnaires and mechanical devices
C) social networks and internal databases
D) commercial online databases and search engines
E) open-source directories and blogs
Which of the following statements is true regarding the affordable method for setting a
promotion budget?
A) It is mostly used by large businesses.
B) It completely ignores the effects of promotion on sales.
C) It tends to place promotion first among spending priorities.
D) It leads to a certain annual promotion budget.
E) It almost always results in overspending.
Andrew Levitt runs a retail store in Norristown. Andrew's store stocks cold weather
products as Norristown mostly has sub-zero temperatures. Which of the following is
evident here?
A) local marketing
B) concentrated marketing
C) segmented marketing
D) mass marketing
E) direct marketing
A product idea is ________.
A) the way consumers perceive an actual or potential product
B) the knowledge and awareness of a product among consumers
C) a possible product that the company can see itself offering to the market
D) a detailed version of the new-product idea stated in meaningful consumer terms
E) the testing of new-product concepts with groups of target consumers
When a company provides superior value by leading its industry in price and
convenience, it has obtained ________.
A) product leadership
B) focus
C) operational excellence
D) customer intimacy
E) differentiation
Champion, Inc. is a manufacturer of lunch boxes, school bags, and school stationery.
Charles Payton, the CEO of Champion, hopes to sell the products at a low price to
penetrate the market quickly.
A competitor analysis requires the assessment of all of the following EXCEPT the
competitors' ________.
A) objectives
B) organizational hierarchy
C) strategies
D) strengths and weaknesses
E) reaction patterns
A consumer is reading a magazine with an advertisement, but due to a loud sound he is
distracted from reading the advertisement and is not able to grasp its key points. In the
context of the communication process, this unplanned static or distortion is called
________.
A) noise
B) encoding
C) feedback
D) response
E) decoding
Motorzone offers replacement parts for old Volkswagen Beetles. The company
calculates shipping charges based on shipping parts from Boston, even though some
parts actually ship from St. Louis. Motorzone most likely practices ________ pricing.
A) FOB-origin
B) uniform-delivered
C) zone
D) basing-point
E) freight-absorption
Which of the following is NOT an example of product-oriented mission statements?
A) "We are an online library."
B) "We run theme parks."
C) "We sell athletic shoes."
D) "We sell memorable experiences."
E) "We rent hotel rooms."
________ include banks, credit companies, insurance companies, and other businesses
that help insure against the risks associated with the buying and selling of goods.
A) Financial intermediaries
B) Physical distribution firms
C) Resellers
D) Marketing services agencies
E) Wholesalers
