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Andy likes gourmet popcorn and will spend time trying to find his favorite brand. His
girlfriend, Joanne, loves popcorn but doesn't care about brands. For Andy, popcorn is
a(n) __________ good while for Joanne it is a(n) __________ good.
A. shopping; specialty
B. convenience; shopping
C. convenience; specialty
D. specialty; convenience
E. unique; universal
Answer:
Quantitative research offers a means to confirm ideas through
A. surveys or experiments.
B. in-depth interviews.
C. data mining.
D. qualitative research.
E. informal analysis.
Answer:
What do the BRIC countries have in common?
A. They participate together in a trading bloc.
B. They have suffered more than most other countries in the recent recession.
C. They are Asian countries experiencing explosive population growth.
D. They are the four countries known for the highest levels of bribery in business and
government.
E. They are experiencing significant levels of economic growth.
Answer:
Tomas, a bank employee, doesn't feel that his coworkers accept him. He decides to
dress more casually, as they do, hoping to be accepted. Which level of Maslow's
Hierarchy of Needs is Tomas trying to work on?
A. esteem
B. physiological
C. safety
D. love
E. self-actualization
Answer:
To determine the market potential for its particular product or service, a firm should use
A. GDP data.
B. unemployment data.
C. purchasing power parity data.
D. inflation data.
E. as many metrics as it can obtain.
Answer:
When positioning products relative to competitors' offerings, firms typically are most
successful when they focus on opportunities
A. that build on their strengths relative to those of their competitors.
B. for diversification.
C. in international markets.
D. where value-based pricing can be ignored.
E. where customer excellence can be substituted for product excellence.
Answer:
Tyler runs a parasailing business on Hilton Head Island, South Carolina. Tyler closes
his business in winter when the water gets too cold. Tyler should use a __________
advertising schedule.
A. continuous
B. flighting
C. pulsing
D. penetrating
E. purposeful
Answer:
What aspect of the product is being described when a used car salesperson explains that
each car comes with a one-year extended warranty and a two-year maintenance plan?
A. actual product
B. associated services
C. product style
D. product position
E. product concept
Answer:
In services marketing, the saying "where the rubber meets the road" refers to whether or
not a(n) __________ gap exists.
A. knowledge
B. quality
C. delivery
D. standards
E. empowerment
Answer:
Which of the following best describes when Johnson & Johnson introduces a
travel-sized package for its existing baby oil product?
A. line extension
B. brand extension
C. brand dilution
D. rebranding
E. co-branding
Answer:
It was during the market-oriented era that firms first discovered "marketing." In what
timeframe did this occur?
A. around the turn of the 20th century
B. shortly before the Great Depression
C. just after World War II
D. during the Roaring Twenties
E. during the civil rights movement
Answer:
Natalie and her fianc Dow are planning their wedding. She knows her mother wants her
to have a traditional church wedding with a Roman Catholic priest officiating. Natalie
would like to have an informal ceremony on the beach, since that type of wedding has
become popular with her friends. Furthermore, Dow is from Thailand and would like to
have a monk officiate. Natalie and Dow's wedding decisions are most influenced by
A. impulse, habitual, and limited problem-solving processes.
B. functional and psychological profit.
C. universal, retrieval, and evoked sets.
D. cognitive, affective, and behavioral environments.
E. family, reference groups, and culture.
Answer:
The final stage in the business-to-business buying process is to
A. place the order.
B. select the vendor.
C. assess vendor performance.
D. address additional needs.
E. prepare an RFP.
Answer:
Customers have a defined __________ when it comes to waiting in line at a retail
checkout counter. The amount of time consumers are willing to wait varies with the
type of store.
A. voice-of-customer quotient
B. empowerment standard
C. tangibles gap
D. zone of tolerance
E. quality gap
Answer:
Supply chain management is also referred to as
A. delivery management.
B. marketing channel management.
C. production management.
D. retail management.
E. value proposition management.
Answer:
The marketing research process follows five steps, and researchers
A. may not always go through them in the exact sequence if the situation changes or
new information is discovered.
B. should maintain the integrity of the process by following each step sequentially and
thoroughly.
C. often collect data before defining the research objectives.
D. should be prepared to present the results before completing the analysis if they are
under a great deal of pressure to meet a deadline.
E. may follow the process by completing all steps at once instead of planning the
process first.
Answer:
Jacob rents rooms in his hotel for an average of $100 per night. The variable cost per
rented room is $20, to cover maid service and utilities. His fixed costs are $100,000 and
his profit last year was $20,000. For Jacob, the contribution per unit is
A. $100.
B. $80.
C. $800.
D. $1,000.
E. It cannot be determined from the information provided.
Answer:
Psychographics is the segmentation method that delves into how consumers
A. adjust to demographic changes.
B. allocate scarce incomes to a variety of goods and services.
C. describe themselves.
D. value their livelihoods.
E. believe other people see them.
Answer:
Using prior sales and communication activities to determine the present communication
budget describes which method of IMC budgeting?
A. reach and frequency
B. track and decode
C. objective-and-task
D. rule-of-thumb
E. sender-receiver
Answer:
Every Monday during the month of December, salespeople who had the highest sales
the previous week participated in a package surprise, where each would receive a
package containing either a $50 or a $100 bill. This short-term incentive is known as a
A. sales contest.
B. bonus.
C. commission.
D. salary.
E. rebate.
Answer:
The growth phase of the product life cycle is always dynamic. Which of the following
does not occur in this phase?
A. Profits increase as sales increase.
B. Profits increase as economies of scale are attained.
C. Some new competitors may enter the market with similar products.
D. Some competitors will exit in an "industry shakeout."
E. Price competition with protracted price wars erodes profits.
Answer:
Joe is reviewing secondary data his company collected about seasonal variations in
consumer spending because he is thinking about developing a new product line. The
advantages of using these data include
A. they are new and can be used to project overall demand.
B. they can be quickly accessed at a relatively low cost.
C. they are historical data that can be used to accurately predict future trends.
D. they have been collected specifically for the purpose Joe is using it for.
E. their high cost can be justified by the results.
Answer:
Sam was called in to meet with his boss, Tricia. He was afraid he was going to be fired
for the mistake he had made dealing with an important customer of the store. Instead,
Tricia explained that he had handled the situation well, listening to the customer and
finding a fair solution. Tricia commented, "Even more important, working the way you
did to correct the error could result in __________."
A. a smaller empowerment gap
B. increased customer purchases and positive word of mouth
C. a full refund for the customer
D. a larger service gap
E. less instrumental support
Answer:
Which generation's members are also known as Millennials?
A. Baby Boomers
B. Gen X
C. Gen Y
D. Gen Z
E. the Digital Natives
Answer:
Suppose that Walgreens (a major drug store chain) wants to introduce its own brand of
cough medicine that is similar in content and packaging to a national brand, but at a
lower cost. What kind of brand would Walgreens be introducing?
A. private-label brand
B. counterfeit brand
C. premium brand
D. national brand
E. manufacturer's brand
Answer:
For retailers, promotion refers to
A. supply chain communication.
B. the relationship between price and product.
C. the image a store attempts to maintain through its pricing strategy.
D. both their in-store environment and their media communications.
E. the seasonal discounts offered to move end-of-season items.
Answer:
If a cable television company had 100 million subscribers at the end of the year, and 2
million of its subscribers left its service, it would have a churn rate of
A. 1 percent.
B. 2 percent.
C. 5 percent.
D. 10 percent.
E. 20 percent.
Answer:
The individual elements of an IMC strategy can be viewed on two axes: __________
(from the consumer's perspective) and ________.
A. passive and interactive; tangible and intangible
B. mobile marketing and direct marketing; tangible and intangible
C. offline and online; low cost and high cost
D. passive and interactive; offline and online
E. static and changing; offline and online
Answer:
The Wall Street Journal provides a set of guidelines each year for purchasing a laptop
computer. The guidelines include recommendations for hard disk capacity, memory
size, battery life, and several other attributes. The Wall Street Journal is providing
consumers with
A. an evoked set.
B. psychological needs.
C. social concerns.
D. evaluative criteria.
E. biased information.
Answer:
The light beer commercial with the slogan "less filling, tastes great" was based on
__________ segmentation.
A. geographic
B. geodemographic
C. psychographic
D. benefit
E. loyalty
Answer:
When consumers associate a brand with a certain level of quality and familiar
attributes, allowing consumers to make quick decisions, the brand
A. establishes novelty.
B. is the only one the consumer will consider.
C. reduces delivery costs.
D. facilitates purchasing.
E. creates brand dilution.
Answer:
__________ is when two or more firms join forces to reach a target audience in a
short-term effort.
A. Promotional co-branding
B. Cross-promotion
C. Joint-venture promotion
D. Multi-target promoting
E. Convenience promoting
Answer:
When firms target several market segments with a different offering for each segment it
is using which targeting strategy?
A. differentiated
B. mass marketing
C. undifferentiated
D. concentrated
E. micromarketing
Answer:
How might a book publisher use blogs in its marketing research efforts?
A. as a place to report marketing research results to top management
B. as a source of reviews of its latest releases
C. as a location for holding online focus groups about its books
D. as a location for conducting online experiments about book purchasing patterns
E. as a substitute for large-scale surveys about future book topics
Answer:
In a corporate vertical marketing system,
A. conflict tends to be a major problem.
B. independent firms at different levels of the marketing channel join through contracts
to obtain economies of scale and coordination to reduce conflict.
C. there is no common ownership, and the dominant member has significant power to
impose its ideas and objectives.
D. independent firms join together formally to decide how the marketing channel will
operate.
E. participantssuch as warehouses, transportation companies, and retail outletsare
typically owned by a parent company to ensure harmonious relations throughout the
supply chain.
Answer:
Manufacturers like Volkswagen often have testing departments that test incoming parts
and supplies. The primary reason for these premanufacturing tests is to avoid using
faulty materials in the manufacturing process that can cause major problems later on.
How might Volkswagen also use these results in the business-to-business buying
process?
Answer:
In 2005, a new federal law allowed consumers once-a-year free access to their credit
reports. Many consumers who accessed their credit reports were surprised by the
amount of information collected. What can marketers and marketing researchers do to
minimize consumers' privacy fears?
Answer:
Why are innovators important to marketers?
Answer:
Belinda is opening an upscale outdoor cooking equipment store. If she wants to
differentiate her store from competitors based on product offerings, what will she likely
need to do?
Answer:
When developing a positioning strategy, marketers may choose to position their
offerings against the offerings of competitors. If you were to do so, what would you
expect your competitors to do?
Answer:
Describe a typical user of LinkedIn, as well as the kinds of activities he or she will
participate in as an active user.
Answer:
Why does conflict arise in the supply chain? How do partnering relationships help
reduce conflict?
Answer:
What is the advantage of a corporate or family brand? Provide an example of one.
Answer:
How does corporate social responsibility relate to ethics?
Answer:
Although most people do not have a personal marketing plan, when would one be
appropriate?
Answer:
Select four of the seven primary motivations for mobile apps and provide examples of
apps that correspond to each motivation.
Answer:
What are the potential gaps in the Gaps Model? What is it designed to do?
Answer:
What is a unique selling proposition (USP)? Propose one for your university.
Answer:
Explain the 4E framework for social media, and identify the social and mobile media
tools that are most effective for accomplishing each of the 4Es.
Answer:
Boston Consulting Group's portfolio analysis classifies a company's products or product
lines into a two-by-two matrix. What are the bases of classification and what are the
products or product lines in each of the four quadrants called? What marketing
strategies are usually considered for each of the four classifications?
Answer:
What are the individual elements of integrated marketing communications, and how
does each contribute to an IMC campaign?
Answer:
How can the size of a company affect the choice of marketing channels?
Answer:
Create an example of geodemographic segmentation.
Answer:
Paulo, owner of a local plumbing repair company, wants to improve his company's
reputation for corporate social responsibility. What could Paulo do?
Answer:
There are many arguments and reasons for adapting communications strategies in
international markets. What are some reasons for adopting a single global
communications strategy?
Answer:
