The __________ element of the marketing mix includes features and packaging.
a. product
b. price
c. promotion
d. place
e. people
Answer:
Selecting an approximate price level would occur during __________ of the
price-setting process.
a. Step 1
b. Step 2
c. Step 3
d. Step 4
e. Step 5
Answer:
Business products are also referred to as __________ products.
a. B2B products
b. B2C products
c. B4B products
d. C3PO products
e. B4C products
Answer:
Personal Selling Process Photo B
Consider the Personal Selling Process Photo B shown above. Selling that involves
adjusting the presentation to fit the selling situation is known as __________ selling.
a. team
b. personal
c. adaptive
d. need-satisfying
e. one-on-one
Answer:
The practice of using team selling to focus on important customers so as to build
mutually beneficial, long-term, cooperative relationships is referred to as __________.
a. key account management
b. relationship marketing
c. relationship selling
d. customer account management
e. needs-satisfaction selling
Answer:
In terms of scheduling advertising, the speed with which buyers fail to recall a brand if
advertising is not seen is referred to as
a. buyer turnover.
b. the frequency rate.
c. brand awareness rate.
d. forgetting rate.
e. recall dissipation rate.
Answer:
Equipment-based services do not have the marketing concerns of
a. intangibility.
b. inseparability.
c. inventory.
d. inconsistency.
e. immeasurability.
Answer:
Figure 1.
According to Figure 1. above, “A” represents which stage of the retail life cycle?
a. introduction
b. early growth
c. accelerated development
d. maturity
e. decline
Answer:
Microsoft, Intuit, and Yahoo are building new facilities in Quincy, WA, a town that
previously had a population of 3,500. Along with these new neighbors, the residents of
Quincy are also going to get more traffic lights, a strip mall, higher housing prices, and
new jobs. This example best illustrates a(n) __________ change that will impact the
people and businesses of Quincy.
a. social
b. regulatory
c. competitive
d. economic
e. technological
Answer:
What type of scale is the following? “Indicate your degree of agreement with the
following statement: Marketing is an interesting subject” by checking one of the
responses below.
( ) Strongly Agree ( ) Agree ( ) Disagree ( ) Strongly Disagree
a. Likert scale
b. semantic differential scale
c. dichotomous question
d. open-ended question
e. attitudinal question
Answer:
Ace Shoe Co. has fixed costs of $6 million and unit variable costs of $5 per pair.
Suppose a consultant tells Ace it can sell 700,000 pairs of shoes, thus earning a profit of
$2.5 million. What potential error is the consultant making?
a. assuming that fixed costs are independent of price
b. assuming that units sold is independent of price
c. assuming that some fixed costs are variable
d. assuming that some variable costs are fixed
e. assuming that variable costs are independent of price
Answer:
Sales support personnel who do not directly solicit orders but rather concentrate on
performing promotional activities and introducing new products are referred to as
__________.
a. inside order takers
b. missionary salespeople
c. outside order getters
d. sales engineers
e. outbound telemarketers
Answer:
A fan source is
a. where a social network following comes fromwith every source being of equal value.
b. where a social network following comes fromwith fans coming from a friend being
more valuable than those coming from an ad.
c. the source of all Facebook fans in the target demographic for a particular brand.
d. the number of fans who interact with a Facebook Page.
e. the number of fans who are evangelists for a brand.
Answer:
The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as
gifts for almost every occasion imaginable. For the Vermont Teddy Bear Company,
Teddy bears are an example of a
a. product class.
b. product mix.
c. SKU.
d. marketing category.
e. product line.
Answer:
Which of the following statements about family decision making is most accurate?
a. The use of joint decision making is directly related to the educational levels achieved
by the spouses.
b. Husbands make most of the purchase decisions made about cars, vacation, and
homes.
c. The two types of family decision making are joint and autonomous.
d. With autonomous decision making, the husband would make all the decisions about
groceries, medicine, and car maintenance.
e. Women have little influence when it comes to men’s clothing purchases except when
purchasing socks or ties.
Answer:
Criteria for forming segments involve both similarities and differences. The similarities
must be ____________ a segment, and the differences must be __________ segments.
a. between; among
b. throughout; absent in
c. within; among
d. absent in; throughout
e. among; across
Answer:
3M Scotchgard Photo
Consider the 3M Scotchgard photo above. The personal moral philosophy 3M used
when it voluntarily stopped the production of its popular 3M Scotchgard was because of
a minute chemical used in its manufacture was found in the tissues of both animals and
humans was an example of ___________.
a. moral idealism
b. utilitarianism
c. green marketing
d. stringent laws
e. cause marketing
Answer:
Originally, filters for Mr. Coffee electric-drip coffee makers were sold through
appliance and mass merchandise stores. If the company decided to sell the filters in
grocery stores where customers purchased their coffee, what type of intermediaries
would the company most likely hire?
a. a full-line wholesaler
b. drop shippers
c. food brokers
d. truck jobbers
e. manufacturer’s representatives
Answer:
The people in the buying center who have the authority to select a supplier and
negotiate the terms of the contract are referred to as
a. gatekeepers.
b. deciders.
c. buyers.
d. influencers.
e. users.
Answer:
The __________ in a decision are the restrictions placed on potential solutions to a
problem.
a. dependent variables
b. obstructions
c. objectives
d. constraints
e. inhibitors
Answer:
For years when most consumers thought of cranberries, they thought of the Ocean
Spray brand. Then Northland cranberry juice came on the market, claiming that it was
superior to the Ocean Spray brand. Northland was creating __________ demand for its
cranberry products.
a. primary
b. derived
c. generic
d. selective
e. secondary
Answer:
Figure 1.
According to Figure 1. above, where would you find the highest prices, margins, and
status?
a. “A”
b. “B”
c. “C”
d. “D”
e. “A” and “D”
Answer:
Break-even analysis refers to
a. a process that investigates the difference between marginal revenue and marginal
cost.
b. a method of determining just how much a consumer is willing to pay for a product or
service.
c. a technique that analyzes the relationship between total revenue and total cost to
determine profitability at various levels of output.
d. the process of determining the quantity of product consumers will buy relative to the
quantity produced by the firm.
e. the graph that shows the maximum number of products consumers will buy at a given
price.
Answer:
Chrysler Corporation provides support and incentives for its Chrysler and Jeep dealers.
Through a multilevel program, Chrysler provides incentives to reward dealers for
meeting sales goals. Dealers receive an incentive when they are near a goal, another
when they reach a goal, and a larger incentive if they exceed sales projections. All of
these actions are intended to encourage Chrysler dealers to __________ the Chrysler
products through the channel to consumers.
a. dump
b. pull
c. unload
d. no haggle
e. push
Answer:
If a brand manager for Honda creates an offbeat and funny video featuring its latest
model, the best social networking site to publish the video for marketing purposes
would be __________.
a. Facebook
b. LinkedIn
c. Twitter
d. YouTube
e. the Honda website
Answer:
Which of the following is a suggestion for ensuring the success of a Twitter-based
integrated campaign?
a. The message should not be serious.
b. There should be several tweets each day.
c. There should not be any links in the messages.
d. The campaign should take place in real time.
e. There should be an “engagement” letter.
Answer:
Dockers, the U.S. market leader in casual pants, originally intended its product as a
single pant for every situation. Dockers now promotes different looks for work,
weekend, dress, and golf. Dockers’ new strategy is designed to __________.
a. create brand awareness
b. create a new use situation
c. increase a product’s use
d. find new customers
e. lower surplus inventory levels
Answer:
The two forms of cost-plus pricing are
a. cost-plus fixed-fee pricing and cost-plus variable-fee pricing.
b. cost-plus ROI pricing and cost-minus markdown pricing.
c. target return on sales pricing and target return on investment pricing.
d. cost-plus percentage-of-cost pricing and cost-plus fixed-fee pricing.
e. dynamic pricing and flexible pricing.
Answer:
Specialty merchandise wholesalers
a. carry a broad assortment of merchandise and perform all channel functions.
b. own the merchandise they sell but do not physically handle, stock, or deliver it.
c. offer a relatively narrow range of products but has an extensive assortment within the
product lines carried.
d. work for several producers, carry noncompetitive, complementary merchandise in an
exclusive territory, and use over-the-road transportation for all product deliveries.
e. deal exclusively with small low-cost consumer goods that are distributed to a select
number of large retail chains.
Answer:
The __________ element of the marketing mix is demonstrated when a company places
an ad in the Yellow Pages.
a. product
b. price
c. promotion
d. place
e. process
Answer:
Among business products, which of the following would MOST likely be considered
supplies?
a. photocopier
b. sheet rock
c. cleaning service
d. Dallas Cowboys Stadium
e. ink cartridges
Answer:
When developing the advertising program, specifying the advertising objectives helps
advertisers with other choices in the process such as selecting media and __________.
a. identifying the target audience
b. evaluating a campaign
c. designing the advertising
d. pretesting the advertising
e. scheduling the advertising program
Answer:
A hardware store advertises a ⅜” Black and Decker Power Drill for $29.95. You enter
the store intending to purchase the drill. The salesperson informs you that they are all
sold out. She tells you that the ‘sale” drills were factory seconds and that if you are
going to be doing any kind of serious woodworking, you should buy the Model 3309,
which sells for $49.99. This scenario has elements of which type of deceptive pricing?
a. comparable value comparisons
b. former price comparisons
c. comparisons with suggested prices
d. bait and switch
e. conditional bargains
Answer:
Websites that allow people to congregate online and exchange views on topics of
common interest are referred to as __________.
a. blogs
b. web communities
c. buzz
d. chat oases
e. web cafs
Answer:
An interactive, Internet-enabled system that allows individual customers to design their
own products by answering a few questions and choosing from a menu of product or
service attributes, prices, and delivery options, is referred to as a __________.
a. choiceboard
b. wiki
c. cookie
d. bot
e. collaborative filter
Answer: