Which form of geographic pricing is a company using when it charges the same rate to
ship a product anywhere in the United States?
A) uniform-delivered pricing
B) psychological pricing
C) zone pricing
D) FOB-origin pricing
E) basing-point pricing
Answer:
Most companies will compete with ________ rather than ________.
A) distant competitors; close competitors
B) close competitors; distant competitors
C) benchmarkers; distant competitors
D) market challengers; market followers
E) market challengers; market nichers
Answer:
Which term refers to prices that buyers carry in their minds and check with when they
look at a given product?
A) product line prices
B) reference prices
C) location-based prices
D) product form prices
E) time-based prices
Answer:
The BRIC countries are ________.
A) Bolivia, the Republic of Haiti, Israel, and Chile
B) Britain, the Republic of the Marshall Islands, Ireland, and the Commonwealth of
Australia
C) Brazil, Russia, India, and China
D) Burundi, Rwanda, Ivory Coast, and Congo
E) Belarus, Romania, Iceland, and Czech Republic
Answer:
Which of the following is true of the exclusive distribution strategy?
A) It makes products available to everybody, everywhere.
B) It is used primarily for convenience items.
C) It helps promote a brand’s luxury image.
D) It gives producers no control over their products.
E) It enlists all of the intermediaries willing to carry a company’s products.
Answer:
“To busy multitaskers who need help remembering things, Evernote is a digital content
management application that makes it easy to capture and remember moments and
ideas from your everyday life using your computer, phone, tablet, and the Web.” This is
an example of a(n) ________.
A) positioning statement
B) statement of purpose
C) order-routine specification
D) vision statement
E) product specification
Answer:
Industrializing economies are also known as ________ economies.
A) emerging
B) raw material exporting
C) totalitarian
D) subsistence
E) capitalist
Answer:
Which of the following is an advantage of using digital catalogs?
A) lists the phone numbers of interested prospects
B) coordinates with direct-response television ads
C) points customers to the nearest kiosk
D) eliminates printing and mailing costs
E) creates emotional contact with customers
Answer:
Which of the following is an advantage of adding new channels in a multichannel
distribution system?
A) limiting market complexity
B) reducing control over the system
C) expanding sales and market coverage
D) decreasing marketing needs and costs
E) minimizing mass customization of products
Answer:
Why are historically online shops such as Zappos.com adding catalogs to their
marketing methods?
A) to meet the increased demand in print catalogs
B) to reduce the costs involved in online marketing
C) to connect with customers in hard-to-reach places
D) to drive online sales and services
E) to reduce the need for telemarketers
Answer:
Which stage of new product development requires management to estimate minimum
and maximum sales to assess the range of risk in launching a new product?
A) concept testing
B) marketing strategy development
C) business analysis
D) product development
E) test marketing
Answer:
Ultra Tech Inc., a company manufacturing gardening tools, has decided to switch to a
territorial sales force structure. Which of the following benefits is the company most
likely to gain as a result of this decision?
A) The cost of training new recruits would be eliminated.
B) An increased focus on short-term customer relationships would boost local sales of
specialized products.
C) Each salesperson would be assigned to sell a single product in which he/she
specializes.
D) The capacity for mass production of a wide range of products would significantly
increase.
E) As each salesperson travels within a limited geographic area, travel expenses would
decline.
Answer:
Which of the following is a benefit of using blogs as marketing tools for companies?
A) Blogs provide companies with a platform to help portray wider merchandise.
B) Blogs are online selling platforms for people located in hard-to-reach places.
C) Blogs help reach a wider audience compared to other online direct marketing tools.
D) Demographic information about customers can be easily discovered.
E) Blogs can offer a fresh, original, personal, and cheap way to enter into consumer
conversations.
Answer:
Manufacturers must comply with specific laws regarding ________.
A) profit margins
B) product quality and safety
C) product harvesting
D) distribution channel length
E) product life cycles
Answer:
________ are huge unenclosed shopping centers consisting of a long strip of retail
stores, including at least one large, freestanding anchor store like Walmart. Each store
has its own entrance with parking directly in front for shoppers who wish to visit only
one store.
A) Shopping malls
B) Power centers
C) Superstores
D) Chain stores
E) Regional shopping centers
Answer:
Which of the following is the best response a company can make to competitive
threats?
A) continuous innovation
B) surrender to the competitor
C) exit from the market
D) divestment
E) globalization
Answer:
Which of the following companies has a product-oriented business definition?
A) A luxury hotel, whose business definition is: “We sell out-of-the-world experiences
to our guests.”
B) A real estate company, whose business definition is: “We sell dreams.”
C) A cosmetic company, whose business definition is: “We offer hopes and
self-expression.”
D) A shoe manufacturer, whose business definition is: “We manufacture affordable and
long-lasting shoes for all.”
E) A high-technology company, whose business definition is: “We sell inspirations.”
Answer:
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.
Answer:
Which of the following is a sociocultural factor that a company should consider before
deciding to enter into a new country?
A) political stability
B) population density (urban vs. rural)
C) education
D) income distribution
E) consumer lifestyles, beliefs, and values
Answer:
The competitive intelligence system continuously collects information from the field
through ________.
A) government publications
B) online monitoring
C) speeches
D) online databases
E) market surveys
Answer:
Which of the following is the most frequently visited type of retail store?
A) convenience store
B) department store
C) supermarket
D) superstore
E) off-price retailer
Answer:
Profitability increases as a business gains share relative to competitors in its ________.
A) higher market
B) direct market
C) secondary market
D) served market
E) valued market
Answer:
Which of the following is an accurate statement about the diversity of the American
population?
A) African Americans represent the largest non-white segment of the population.
B) More than 20 percent of the people living in the United States were born in another
country.
C) By 2050, the Asian population is estimated remain at 4.7 percent.
D) By 2050, Hispanics are estimated to be 30 percent of the population.
E) The United States has become more of a “melting pot” than a ‘salad bowl.”
Answer:
By 2050, ________ will be an estimated 15 percent of the U.S. population.
A) African Americans
B) Asians
C) Hispanics
D) Native Americans
E) Native Hawaiians
Answer:
The purpose of ________ is to ensure that the company achieves the sales, profits, and
other goals set out in its annual marketing plan.
A) benchmarking
B) operating control
C) strategic control
D) SWOT analysis
E) a marketing audit
Answer:
Renkel Cosmetics sends a sample of the newest cosmetics line to all premium members’
addresses. Which of the following best describes Renkel’s form of marketing?
A) social media marketing
B) kiosk marketing
C) direct-response television marketing
D) catalog marketing
E) direct-mail marketing
Answer:
Melissa Thomas leads the marketing research division at Tronics Inc., a manufacturing
company based in Alabama. To improve future sales of the company’s products, she has
decided to collect customer opinions and feedback on the current products offered by
her company. For this purpose, Melissa is looking for a highly flexible contact method
that can be used to gather large amounts of data within the least possible time. In this
instance, which of the following contact methods is most likely to hold the highest
appeal for Melissa?
A) online surveys
B) in-depth interviews
C) telephone interviews
D) individual interviews
E) mail questionnaires
Answer:
By harvesting its SBU, a company would most likely be ________.
A) milking the SBU’s short-term cash flow regardless of the long-term effect
B) selling the SBU or phasing it out and using the resources elsewhere
C) investing just enough to hold the SBU’s current market share
D) investing more in the business unit to build its share
E) diversifying the company’s product line
Answer:
Which of the following is being followed as a guiding principle by a company that
produces and heavily markets cigarettes, with many promotions aimed at young
(although legal age) nonsmokers?
A) the philosophy that companies should have a social conscience and be morally
responsible for current and future populations
B) the philosophy that companies can do in good conscience whatever the market and
legal systems allow
C) the philosophy of environmentalism
D) the philosophy of consumer-oriented marketing
E) the philosophy of consumerism
Answer:
________ are wholesalers who serve grocery and drug retailers, mostly in nonfood
items. They price the goods, keep them fresh, set up point-of-purchase displays, and
keep inventory records.
A) Purchasing agents
B) Rack jobbers
C) Drop shippers
D) Cash-and-carry wholesalers
E) Manufacturers’ agents
Answer:
Why do companies opt for market segmentation?
Answer:
Advertisers should regularly evaluate two types of advertising results: the
communication effects and the sales and profit effects. How are these two results
measured?
Answer:
What are the major trends in today’s natural environment? How do these trends affect
companies?
Answer:
Why should marketers set up systems that encourage customers to complain about
products?
Answer:
List any four major media types and identify some of the strengths and weaknesses of
each of them.
Answer:
How do integrated marketing communications build brand identity?
Answer:
Why and how do companies use workload approach?
Answer:
Marketers can choose from two basic promotion mix strategiespush promotion or pull
promotion. Compare these two strategies.
Answer:
What are the different internal factors that affect a firm’s pricing decisions?
Answer:
Define brand personality.
Answer:
What factors should a firm consider when selecting intermediaries?
Answer:
Describe three public policy issues or regulations that marketers should carefully
consider as they make decisions about adding or dropping products.
Answer:
Explain why the aim of customer relationship management is to create not just
customer satisfaction, but also customer delight.
Answer:
How can a marketer increase its ‘share of customer”?
Answer:
What attracts shoppers to a power center?
Answer:
Compare and contrast the four types of products in the societal classification of
products. Provide examples of each.
Answer:
Explain why selective attention is not controllable by a marketer.
Answer:
Explain Maslow’s hierarchy of needs.
Answer: