Which of the following statements represents a possible measure of success in the first
step of the five-step marketing research approach, defining the problem?
A. You have three weeks and $10,000 to determine if it is going to be profitable to serve
breakfast on weekdays or not.
B. If three-year olds like this product, then it stands to reason that four-year olds will
like it even more.
C. Use mail questionnaires, not focus groups.
D. Let’s identify the most cost effective method of advertising.
E. If the test subject eats most or all of the sample during the taste test, it will be
assumed that he or she likes it.
Answer:
Carma Laboratories, Inc., the maker of Carmex lip balm, used __________ to conduct
marketing research to understand the nature of online conversations about lip balm.
A. ethnographic research
B. depth interviews
C. focus groups
D. social media
E. telephone surveys
Answer:
The owners of a small toy store had a limited advertising budget and were very
concerned about spending their advertising dollars wisely. One of their primary
advertising goals was to expose customers in the store’s limited market area to their
advertising messages as often as fiscally possible. The owners of the toy store were
most likely concerned with
A. reach.
B. frequency.
C. gross rating points.
D. cost per thousand.
E. ratings.
Answer:
A decision refers to
A. a premeditated selection resulting in a personal action.
B. a conscious choice among a set of alternatives that creates the least amount of risk.
C. a conscious choice from among two or more alternatives.
D. a subconscious selection of the alternative most consistent with one’s personal
beliefs.
E. an unconscious choice selected from a subset of positive alternatives.
Answer:
UMD2a: Ben & Jerry’s Marketing Dashboard (Dollar Sales)
Consider UMD2a: Ben & Jerry’s Marketing Dashboard (Dollar Sales) shown above. A
marketing manager for Ben and Jerry’s has been provided with the above marketing
dashboard display. She notices that dollar sales for 2012 were $240 million and in 2013
they were $250 million. What was the formula used to calculate the dollar sales for each
of these two years?
A. Dollar sales ($) = average price multiplied by quantity manufactured in each year.
B. Dollar sales ($) = average cost of goods sold minus fixed costs in each year.
C. Dollar sales ($) = average price minus shrinkage rate in each year.
D. Dollar sales ($) = average price multiplied by quantity sold in each year.
E. Dollar sales ($) = average cost of goods sold minus variable costs in each year.
Answer:
Which of the following is an example of possession utility?
A. an iPhone with a large selection of new “apps”
B. the local dairy that offers to deliver bottles of milk to a customer’s doorstep
C. disposable diapers that come equipped with resealable tabs
D. a gourmet food store that carries a line of ready-made salads
E. a mobile phone company that offers six-month financing, same as cash
Answer:
When purchasing a tablet device, factors a consumer considers prior to purchase are
called __________, which represent both the objective attributes of a brand and the
subjective ones used to compare different products and brands.
A. points of difference
B. informational alternatives
C. buying-decision choices
D. evaluative criteria
E. consumer attributes
Answer:
All of the following statements regarding the training of distributors’ salesforces are
true EXCEPT:
A. a manufacturer’s success often depends on the ability of its resellers’ salesforces to
represent its products.
B. manufacturers develop incentive and recognition programs to motivate a reseller’s
salespeople to sell their products.
C. intermediaries perform customer contact and selling functions for producers they
represent.
D. both retailers and wholesalers employ and manage their own sales personnel.
E. resellers’ salesforces are often more sophisticated and knowledgeable about a
manufacturer’s products than its own personnel.
Answer:
Figure 10-1
Figure 10-1 above represents the stages of the product life cycle. What does the portion
of the curve labeled C represent?
A. introduction
B. maturity
C. growth
D. accelerated development
E. decline
Answer:
Hewlett-Packard recently shifted its entire U.S. salesforce into home offices and saved
millions in staff salaries and office rent despite the expense of equipping each home
office with a notebook computer, fax/copier, mobile phone, two phone lines, and office
furniture. Such decreased selling costs are among the benefits of __________.
A. direct selling
B. inbound teleselling
C. salesforce networking
D. account management policies
E. salesforce communication
Answer:
In the VALS framework, consumers who favor established, prestige products and
services and are interested in time-saving devices given their hectic schedules are called
A. Thinkers.
B. Believers.
C. Strivers.
D. Experiencers.
E. Achievers.
Answer:
Hewlett Packard recently offered consumers a __________ of $100 when they
purchased an HP computer and printer together.
A. premium
B. deal
C. coupon
D. rebate
E. student incentive
Answer:
Dual distribution refers to
A. a level of distribution density whereby a firm selects a few retailers in a specific
geographical area to carry its products.
B. an arrangement whereby a firm reaches different buyers by employing two or more
different types of channels for the same basic product.
C. the blending of different communication and delivery channels that are mutually
reinforcing in attracting, retaining, and building relationships with consumers who shop
and buy in traditional intermediaries and online.
D. professionally managed and centrally coordinated marketing channels designed to
achieve channel economies and maximum marketing impact.
E. a practice whereby one firm’s marketing channel is used to sell another firm’s
products.
Answer:
Which of the following is the best example of an organizational buyer?
A. a mother buying milk for her young son
B. a store owner buying hand-painted slate signs to sell in her store
C. a computer programmer buying the latest game for his Xbox
D. a botanist buying a rose bush for his home garden
E. a parent buying a softball glove for a daughter
Answer:
Wholly-owned extensions of the producer that perform wholesaling activities are
referred to as
A. general merchandise wholesalers.
B. cash and carry wholesalers.
C. agents and brokers.
D. manufacturer’s branch or sales offices.
E. merchant wholesalers.
Answer:
GM’s original first-year __________ goal for the Volt was 10,000 units, although the
product was well into its second year before reaching that level.
A. profit
B. market share
C. sales
D. customer satisfaction
E. survival
Answer:
All of the following statements about a person’s moral philosophy are true EXCEPT:
A. Moral philosophy cannot be learned through formal education.
B. Moral philosophy is learned through the process of socialization with family.
C. Moral philosophy is influenced by the corporate culture he or she is in.
D. Moral philosophy is learned through the process of socialization with friends.
E. Moral philosophy is influenced by the societal culture he or she is in.
Answer:
Web communities refer to
A. online cooperative buying centers that allow individuals to purchase at the same bulk
rate as large organizations.
B. customers linked by a common Internet service provider.
C. virtual reality games that allow players to create their own worlds, countries, towns,
etc.
D. websites that allow people to congregate online and exchange views on topics of
common interest.
E. all customers served by a particular firm who are sent regular e-mail sales
notifications and coupons from the manufacturer.
Answer:
Supply chain management refers to
A. the integration and organization of information and logistic activities across firms for
the purpose of creating and delivering products that provide value to ultimate
consumers.
B. organizing the cost-effective flow of raw materials, in-process inventory, finished
goods, and information from point-of-origin to point-of-consumption to satisfy
customer requirements.
C. the integration and organization of information and logistical activities that actively
bring consumers together with sellers through the express use of agents and brokers.
D. an inventory management system that is designed to reduce the retailer’s lead time
for receiving merchandise, which then lowers a retailer’s inventory investment,
improves customer service levels, and reduces logistic expenses.
E. a highly organized system that facilitates minute-to-minute communication between
all members of a supply chain and ensures the producer is aware of any changes in
delivery or demand for a product or service.
Answer:
When a company uses a(n) __________, it is using its own advertising staff to provide
the advertising services needed by the company.
A. intra-firm agency
B. promotion department
C. in-house agency
D. full-service agency
E. limited-service agency
Answer:
Which of the following statements regarding transit advertising is most accurate?
A. The growth in mass transit is declining in major cities.
B. In heavy travel times, when audiences are the largest, transit advertising is not
conducive to reading advertising copy.
C. Selectivity in transit advertising is unavailable to advertisers who want to buy space
by neighborhood or bus route.
D. Transit advertising is creating safety hazards as people are busy reading the copy and
not paying attention while driving.
E. Transit advertising is a form of indoor advertising in stadiums, buses, etc.
Answer:
Summing the total unit cost of providing a product or service and adding a specific
amount to the cost to arrive at a price is referred to as __________.
A. standard markup pricing
B. experience curve pricing
C. cost-plus pricing
D. product-line pricing
E. target return-on-investment pricing
Answer:
The percentage of households in a market that are tuned to a particular television show
or radio station is referred to as __________.
A. gross rating points
B. CPM
C. reach
D. rating
E. share points
Answer:
Figure 8-6
Figure 8-6 above shows the market-product grid for a Wendy’s restaurant next to a large
urban university campus. Assume a large market (shown by a 3) is three times the size
of a small market (shown by a 1) and a medium market (shown by a 2) is twice the size
of a small market. The meal occasion (product grouping) that comprises the largest
product grouping is
A. breakfast.
B. lunch.
C. between-meal snack.
D. dinner.
E. after-dinner snack.
Answer:
Cessna is considered the volume leader in the executive-jet market. It has been
described as “almost totally vertically integrated.” This quote means that Cessna
A. does not fall under the jurisdiction of any federal regulatory agency.
B. owns several of the entities that would make up the traditional marketing channel.
C. has eliminated economies of scale.
D. has achieved a high level of social responsibility.
E. uses outsourcing for all component parts and materials.
Answer:
If McNeil Consumer Healthcare uses the same brand name for different products such
as Tylenol Cold and Flu and Tylenol P.M. based on behavioral learning theory, this
strategy is an example of
A. stimulus generalization.
B. selective comprehension.
C. selective retention.
D. stimulus discrimination.
E. routine problem solving.
Answer:
Messages on the interior and exterior of buses, subway cars, and taxis are referred to as
A. transportation messages.
B. public service announcements.
C. transit advertising.
D. public advertising.
E. vehicle advertising.
Answer:
Figure 1-2
In Figure 1-2 above, “A” represents __________ and “B” represents __________.
A. decisions by management; purchases by customers
B. employees efforts; stakeholder rewards
C. sales department; manufacturing department
D. suppliers; distributors
E. discovering consumer needs; satisfying consumer needs
Answer:
The purpose of business portfolio analysis is to
A. add or delete product line and brand extensions.
B. search for growth opportunities from among current and new markets as well as
current and new products.
C. alter a product’s characteristic, such as its quality, performance, or appearance, to
increase its value to customers and increase sales.
D. determine the appeal of each SBU or offering and then determine the amount of cash
each should receive.
E. seek opportunities by finding the optimum balance between marketing efficiencies
versus R&D-manufacturing efficiencies.
Answer:
Franchising is a type of __________.
A. administered system
B. contractual system
C. vertically integrated chain
D. retail-sponsored cooperative
E. corporate system
Answer:
E-Marketplaces refer to
A. virtual or holographic purchasing marketspaces that allow manufacturers to estimate
demand based upon different changes in environmental forces.
B. websites that allow consumers to make direct purchases from a manufacturer rather
than through a traditional retail outlet.
C. online trading communities that bring together buyers and supplier organizations to
make possible the real time exchange of information, money, products, and services.
D. computer simulations that allow manufacturers to estimate how much inventory to
keep on hand based upon different purchasing scenarios.
E. a computer database co-sponsored by the U.S. Department of Commerce and the
World Trade Organization (WTO) that houses all public access records for the purpose
of aiding American and global businesses.
Answer:
Segmentation based on what product features are important to different customers is
known as
A. demographic segmentation.
B. behavioral segmentation.
C. psychographic segmentation.
D. geographic segmentation.
E. socioeconomic segmentation.
Answer: