The study of similarities and differences among consumers in two or more nations or
societies is referred to as __________.
A. market synthesis
B. cross-cultural analysis
C. international sociographics
D. transnational anthropology
E. multicultural ethnocentrism
Answer:
Brand licensing refers to __________.
A. the registration fee paid by a manufacturer to states, provinces, or countries in order
to sell its products there
B. a branding strategy in which the producer dictates the brand name to retailers for the
products sold to their respective markets
C. a branding strategy in which a company uses one name for all of its products
D. a contractual agreement whereby a company allows another firm to use its brand
name or trademark with its products or services for a royalty or fee
E. a branding strategy in which manufacturers produce products but sell them under the
brand name of a wholesaler or retailer
Answer:
Using an existing brand name to introduce a product that is new to the company into a
totally new, unfamiliar market seems like a good idea. Several years ago,
Harley-Davidson introduced perfume under the Harley-Davidson brand name – and it
failed quickly. This innovation strategy is known as a
A. radical invention.
B. product line extension.
C. disruptive innovation.
D. product deletion.
E. brand extension.
Answer:
Decoding refers to
A. receiving a message within a common field of experience and breaking down that
information into small useable units to better interpret its meaning.
B. having a receiver take a set of symbols, the message, and transform them back to an
idea.
C. receiving a message that requires integration of new information to fully understand
the intended meaning.
D. having the sender transform an abstract idea into a set of symbols that can be
universally understood.
E. having a sender take a set of symbols, the message, and transform them back to an
idea.
Answer:
The marketing plan for IBM’s “Smarter Planet” strategy included which of the
following marketing tactics?
A. handing out “Smarter Planet” t-shirts on selected college campuses through the
world
B. providing samples of new hard drives for NYC businesses
C. sponsoring the U.S. swim team for the 2012 Summer Olympics
D. including a strong message in an annual report from IBM’s Chairman of the Board
and CEO
E. garnering a celebrity endorsement from Jon Steward, host of the Daily Show
Answer:
When considering the use of everyday low pricing, one should consider the impact on
the brand and store’s __________.
A. perceived quality
B. product benefits
C. convenience
D. trademark protection
E. maintained price
Answer:
Service organizations must manage the availability of the offering so that __________
and the organization’s assets are used in ways that will maximize the return on
investment (ROI).
A. marginal costs exceeds marginal revenues
B. service encounters can identify planning gaps
C. demand matches capacity over the duration of the demand cycle
D. the price elasticity of demand is unitary
E. the service experience is consistent with the sharing economy standards of the
organization’s industry
Answer:
The American Floral Council used an ad that showed three flower arrangements
varying in size from a single rose to a very large elaborate arrangement. The caption
simply read, “Just how mad is she?” This ad relies on which of the following situational
influences for its effectiveness?
A. purchase task
B. social surroundings
C. physical surroundings
D. psychological effects
E. antecedent states
Answer:
In the automobile industry, many companies use a __________, whereby a
manufacturer licenses dealers to sell its cars subject to various sales and service
conditions.
A. service-sponsored producer franchise system
B. service-sponsored retail franchise system
C. manufacturer-sponsored wholesale franchise system
D. manufacturer-sponsored retail franchise system
E. administered vertical marketing system
Answer:
Offering a Champion brand heart pacemaker with only the features needed by Asian
patients is an example of Medtronic’s
A. evaluation strategy.
B. price strategy.
C. place strategy.
D. promotion strategy.
E. product/service strategy.
Answer:
The marketing department of an organization is responsible for facilitating
__________.
A. relationships, partnerships, and alliances with the organization’s customers,
shareholders, suppliers, and other organizations
B. healthy competition with other product manufacturers
C. financial contracts with banks and other lending institutions
D. alliances with firms with non-competitive products that target similar markets
E. the coordination between the various departments within the entire firm
Answer:
Assume it costs Lady Marion Seafood, Inc. $30 to catch, process, freeze, package, and
ship 5-pound packages of Alaskan salmon. The firm adds 60 percent to the cost of its
salmon products and charges customers a total of $48 for a postage-paid vacuum-sealed
package. What type of pricing does Lady Marion Seafood use to arrive at its final price?
A. target return-on-sales pricing
B. bundle pricing
C. standard markup pricing
D. target profit pricing
E. customary pricing
Answer:
Figure 6-1
The question mark in Figure 6-1 above which results from the imposition of tariffs and
quotas is referred to as
A. domestic imperialism.
B. protectionism.
C. blocked competition.
D. import taxation.
E. trade restriction.
Answer:
Companies such as Avon, Fuller Brush, Mary Kay, and World Book are examples of
firms that use
A. interface marketing.
B. flex-marketing.
C. direct selling.
D. interactive selling.
E. responsive selling.
Answer:
Gatorade is classified as a(n) __________ brand.
A. domestic
B. regional
C. international
D. global
E. nationwide
Answer:
The word “cost-effective” as it relates to the definition of logistics management implies
that
A. while it is important to drive down logistics costs, all channel members must equally
benefit financially or the chain will not function effectively.
B. speed of delivery must be measured against increased savings.
C. while it is important to drive down logistics costs, customer buying requirements
must be a part of the equation.
D. the need for multiple carriers always results in lower profit margins and therefore
should be avoided.
E. the choice of intermediaries should be made on their ability to perform their tasks
efficiently even if additional costs must be passed on to the consumer.
Answer:
The principal difference between the two major types of websites is that promotional
websites are designed to __________ while transactional websites are designed to
__________.
A. create portals; act as bots
B. convert online browsers into online buyers; promote a company’s products and
services
C. provide information about a company; move consumers closer to a purchase
D. move consumers closer to a purchase; provide information about a company
E. promote a company’s products and services; convert online browsers into online
buyers
Answer:
The tasks involved in managing personal selling include all of the following EXCEPT:
A. selecting salespeople.
B. evaluating the performance of individual salespeople.
C. setting sales objectives.
D. organizing the salesforce.
E. designing new direct sales promotions to generate new sales.
Answer:
Screening and evaluation refers to the stage of the new-product process
A. at which prospective customers are exposed to new product prototypes for the first
time.
B. at which new product concepts that have been found viable are converted into actual
prototypes.
C. that internally and externally evaluates new-product ideas to eliminate those that
warrant no further effort.
D. that specifies the features of the product and the marketing strategy needed to bring
it to market and make financial projections.
E. where consumers evaluate a new product’s performance in an actual-use situation.
Answer:
Which of the following is NOT an environmental force?
A. technological
B. regulatory
C. ecological
D. competitive
E. economic
Answer:
Which of the following issues raises concerns about the ethics of protectionism?
A. Competitive advantage grows out of continuous improvement.
B. Small firms succeed in foreign niche markets.
C. Tariffs have declined from an average of 40 percent to less than 5 percent.
D. Regional trade agreements provide preferential treatment for member nations.
E. Pan-European marketing strategies are possible due to greater uniformity in
packaging standards.
Answer:
In a(n) __________ economy, if prices rise faster than consumer incomes, the number
of items consumers can buy decreases.
A. deflationary
B. expansionary
C. recessionary
D. inflationary
E. depressive
Answer:
Napster was the first software that allowed an individual to easily search for and
exchange MP3 music files with other individuals (in some cases illegally). When it was
introduced, Napster would have been an example of a
A. discontinuous innovation.
B. continuous innovation.
C. dynamically continuous innovation.
D. regulatory innovation.
E. disruptive improvement.
Answer:
Growth in the direct-selling industry is the result of two trends: (1) there is a growing
number of companies that are using direct selling to reach consumers who prefer
one-on-one customer service and a social shopping experience rather than online
shipping or big discount stores and (2)
A. many direct selling retailers are expanding into markets outside of the United States.
B. increased gas prices and traffic congestion are causing people to want stores to
deliver products to them.
C. the pendulum is beginning to swing back to more mothers (and fathers) staying
home during the day with children, making direct selling more convenient.
D. the purchase or lease of real estate to build physical retail stores is becoming
prohibitive.
E. graduating business students are finding it more difficult to find a traditional sales
position and like the idea of being their own bosses.
Answer:
Loss-leader pricing refers to
A. a pricing method where the price the seller charges is below its customary price to
attract customers.
B. setting a low initial price and gradually but consistently increasing that price so as
not to antagonize the consumer.
C. deliberately selling a product below its customary price, not to increase sales, but to
attract customers’ attention in hopes that they will buy other products as well.
D. a method of pricing based on a product’s tradition, standardized channel of
distribution, or other competitive factors.
E. pricing a product between 8 and 10 percent lower than nationally branded
competitive products.
Answer:
Which of the following is NOT essential to engage today’s customers using social
media promotions?
A. Encourage and respond to comments and feedback, both positive and negative.
B. Create sweepstakes, contests, and deals that reward current and new customers.
C. Post relevant content about the benefits and uses of the product.
D. Send out a product sample to everyone who engages with a “Like” or “Follow” of
the brand.
E. Supplement text with photos and videos.
Answer:
To generate traffic to a Facebook Page for a brand, what is another mode of advertising
on Facebook?
A. Messages can be sent to the inbox on a user’s profile page.
B. Pop-up ads can appear after a user logs in.
C. Facebook will place links to other webpages on its home page.
D. Facebook does not allow for any other forms of advertising.
E. Paid ads and sponsored stories can appear on a user’s profile page.
Answer:
Scanning your memory for previous experiences with products or brands occurs during
which stage of the consumer purchase decision process?
A. information search
B. purchase decision
C. alternative evaluation
D. postpurchase behavior
E. problem recognition
Answer:
Profit responsibility, societal responsibility, and stakeholder responsibility are three
concepts of
A. cause marketing.
B. moral idealism.
C. social responsibility.
D. utilitarianism.
E. green marketing.
Answer:
The first major federal legislation passed to encourage competition in the United States
was the
A. Sherman Antitrust Act.
B. Lanham Act.
C. Federal Trade Commission Act.
D. Robinson-Patman Act.
E. Clayton Act.
Answer:
Which of the following statements about the role of social media for PepsiCo’s “Test
Drive” YouTube video/ad is most accurate?
A. The purpose of the video was to reinvigorate sales of the Pepsi Next brand.
B. For Pepsi, advertising the “Test Drive” video on Facebook was much more
expensive from a CPM standpoint than two 30-second TV spots placed on Fox’s
American Idol.
C. Pepsi created a new social-media driven website called Pepsi MAX NASCAR with
Danica Patrick as the spokesperson following the success of the “Test Drive” video.
D. The Pepsi MAX “Test Drive” video followed the successful “Uncle Drew” TV ads.
E. Pepsi MAX is a new, great-tasting energy drink in the introduction stage of its
product life cycle that has “all the sugar and twice the caffeine” as regular Pepsi.
Answer: