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In general, prices should not be based on costs because
A. consumers are cost-conscious.
B. producers rarely know what their costs are.
C. consumers make their purchase decisions based on perceived value.
D. producers need to avoid creating a cost competitive parity debate.
E. customers are always right.
Answer:
What type of interview contains a small group of participants and a trained moderator
that guides the conversation?
A. panel
B. syndicated
C. observational
D. focus group
E. sentiment
Answer:
Frequent buyer/user award programs are used to
A. increase price sensitivity.
B. decrease co-branding costs.
C. lower licensing fees.
D. expand product line depth.
E. maintain contact with loyal customers.
Answer:
Charles wants to survey recent customers about the quality of service they received at
his small auto service dealership. He has customers' mailing and e-mail addresses.
Charles will likely use an online survey primarily because it offers
A. relatively low response rates.
B. the ability to share video with respondents.
C. the ability to ask sensitive questions with anonymity.
D. fast responses at a lower cost.
E. the opportunity to survey both existing and potential customers.
Answer:
Today, almost every sales rep can immediately check the company's inventory and
production schedule electronically. This allows sales reps to sell what is available and
make promises to customers that they can keep. This technology has improved service
delivery through
A. access to a wide variety of services.
B. greater control by customers over service delivery.
C. increased zone of tolerance.
D. greater ability to obtain information.
E. saving customers time.
Answer:
Integrated marketing communications include all of the following except
A. advertising.
B. supply chain management.
C. direct marketing.
D. public relations.
E. sales promotion.
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:
Marketers have found that __________ segmentation is often more useful for predicting
consumer behavior than __________ segmentation.
A. demographic; psychographic
B. geographic; geodemographic
C. psychographic; demographic
D. demographic; behavioral
E. demographic; benefit
Answer:
Many of the best-known American retailers, like Starbucks and McDonalds, have
contractual agreements with another firm or individuals, allowing its businesses to
operate overseas. These companies expanded globally using
A. franchising.
B. exporting.
C. joint ventures.
D. direct investment.
E. strategic alliances.
Answer:
Charming Charlie's, a fashion accessories retailer, encourages visitors to its stores to
"check in" using a smartphone app. In return, customers receive an instant coupon
toward that day's purchase. This is an example of
A. personal selling.
B. mobile marketing.
C. online marketing.
D. social media.
E. advertising.
Answer:
Marketers often employ a combination of segmentation methods, using __________ to
identify and target their customers, and __________ to design products and messages to
appeal to them.
A. loyalty segmentation; demographics
B. undifferentiated targeting; differentiated targeting
C. loyalty segmentation; geodemographics
D. demographics and geography; lifestyle or benefit segmentation
E. lifestyle segmentation; geographic segmentation
Answer:
_______ channel conflict occurs when members of the same marketing channel, for
example, manufacturers, wholesalers, and retailers are in disagreement or discord.
A. Horizontal
B. Independent
C. Conventional
D. Coercive
E. Vertical
Answer:
When marketers state that services are __________, they are referring to the fact that
services are produced and consumed at the same time.
A. intangible
B. inseparable
C. heterogeneous
D. perishable
E. peripheral
Answer:
During the _____ phase of the strategic marketing planning process, ethical mission
statements can serve as a means to guide a firm's SWOT analysis.
A. brainstorming
B. planning
C. implementation
D. control
E. revision
Answer:
When Toro offers its lawn mower dealers an additional discount if they place their
orders and receive delivery before April 1, prior to the lawn mowing season, Toro is
offering a
A. seasonal discount.
B. cash discount.
C. slotting allowance.
D. zone price discount.
E. price line discount.
Answer:
Yvonne uses her customer relationship management (CRM) system to predict when her
business customers will need more of her company's packaging materials. When she
thinks a customer should be ready to make another order, she contacts them. Yvonne is
using CRM to encourage customers to engage in a(n)
A. new buy.
B. modified rebuy.
C. adapted buy.
D. straight rebuy.
E. generic buy.
Answer:
It is difficult, but not impossible, to integrate marketing communications across all
platforms, including social media.
Answer:
Advertising executives are rated as having higher ethical standards than lawyers
according to recent Gallup poll data.
Answer:
The advantage of zone pricing to the seller is the shipping charges typically
A. are not marked down during the off season.
B. complement the advertising allowances.
C. reflect more closely the cost of delivery.
D. result in a cumulative quantity discount.
E. are the same for all shipments, making it easy to calculate total price.
Answer:
Some discount stores put products in large bins and let consumers hunt and find
bargains. The price these consumers pay includes
A. only the actual price they pay at the register.
B. the value of their time and energy.
C. the excitement they experience in finding an item they desire.
D. the savings to the store of not having to display the products neatly on shelves.
E. the time the product was full price and didn't sell.
Answer:
Marketers wanting to use social media to reach consumers should understand that
_______ were born into a world that was already full of electronic gadgets and digital
technologies such as the Internet and social networks.
A. Baby Boomers
B. Generation W
C. Generation X
D. Generation Y
E. Generation Z
Answer:
After need recognition and product specification, many firms using the B2B buying
process
A. identify contract specifications.
B. issue a request for proposals from invited suppliers.
C. proceed to proposal analysis.
D. enter vendor negotiation and selection.
E. revise their need recognition analysis.
Answer:
Imagine that you are in a convenience store choosing your favorite "comfort" food
instead of being in a classroom taking this test. You might notice the packaging, colors,
labels, even the fonts used on labels. All of these efforts are part of the marketer's
A. value-based promotions.
B. market segmentation.
C. positioning strategy.
D. customer excellence strategy.
E. target market.
Answer:
For many professionals offering intangible services, an ethical marketing dilemma
exists. The dilemma centers on
A. when to advertise versus when to use personal selling.
B. which media are appropriate for promoting intangible services.
C. which images create a better impression on consumers.
D. how to gain clients while retaining an image of professionalism and integrity.
E. who should be the spokesperson for professionals offering intangible services.
Answer:
As part of efforts to stimulate economic development in Africa, the Gates Foundation
announced that it would provide cellular phones to farmer cooperatives. The Gates
Foundation recognized that problems in __________ exist in many African markets.
A. transportation
B. communication
C. distribution
D. commerce
E. population
Answer:
Katerina is told by her sales manager, "Do whatever you need to do to get the sale," yet
the company has ethical selling standards. Katerina faces the ethical problem of
A. customer relationship management.
B. sales force compensation inequity.
C. limited commission reinforcement.
D. mixed signals from her sales manager.
E. unqualified lead generation.
Answer:
Which of the following is a systematic means of collecting information from people
using a questionnaire?
A. survey
B. experiment
C. scanner study
D. in-depth interview
E. focus group
Answer:
Thomas had conducted a thorough pretest before the new ad campaign, so he was fairly
sure the elements would work together. A lot was riding on the success of the ad
campaign, so he couldn't wait until the campaign was over to see how well it did.
During the campaign, he will be monitoring the sales volumes on a daily basis as part of
his
A. cause-related marketing.
B. pulsing.
C. tracking.
D. flighting.
E. lifting.
Answer:
Many stores now e-mail codes to their customers that can be used on their websites or
printed and brought into the store to receive discounts for products purchased. In this
instance, the customer is using a _______ to receive the discount.
A. size discount
B. rebate
C. coupon
D. markdown
E. seasonal discount
Answer:
Marketers that include ethical statements in the firm's mission or vision statements are
introducing ethics at which stage of the strategic marketing planning process?
A. implementation phase
B. control phase
C. planning phase
D. evaluation phase
E. idea generation phase
Answer:
Barnes & Noble bookstores have computers available for associates to use to search for
books requested by customers and to place special orders. These computers are an
example of
A. instrumental support.
B. employee incentives.
C. emotional support.
D. line extensions.
E. the delivery gap.
Answer:
