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Which service pricing objective seeks to match supply and demand by varying prices?
a. Revenue oriented
b. Operations oriented
c. Patronage oriented
d. Externally oriented
e. Equilibrium oriented
Answer:
A series of stages determined by a combination of age, marital status, and the presence
or absence of children is known as the:
a. generation gap.
b. family life cycle.
c. maturation process.
d. segmentation cycle.
e. psychographic process.
Answer:
The Internet offers a fast, cost-effective way to conduct test marketing.
a. True
b. False
Answer:
An online message board consists of a selected group of consumers who agree to
participate in an ongoing dialogue with a particular corporation.
a. True
b. False
Answer:
Mitch owns an accounting agency. The monthly payment on the land he purchased for
his business, the mortgage on his small office building, and his business license are all
examples of _____costs.
a. marginal
b. variable
c. fixed
d. promotional
e. demand
Answer:
Circuses
As recently as 20 years ago, circuses came to town with tents, animals, clowns, and
other performers. An advance man arrived about two weeks before the circus actually
arrived, covered the community with posters, and gave out free tickets to
schoolchildren. If the advance man had done a good job, when the circus arrived and
opened its tent doors, 300 to 600 people would fill its seats. When the largest circus
organizations merged, the newly formed Ringling Bros. and Barnum & Bailey's
Greatest Show on Earth began performing in 4,000seat arenas.
Attendance, however, has stagnated in recent years. People have stopped going to the
circus because they miss the circus tent and the intimate atmosphere it created. The
newest thing in circuses is a return to the tent atmosphere with an emphasis on the types
of entertainment that were popular years ago. Antique circus wagons, calliope
music, and cotton candy are replacing the exotic animals and the prima donna
performers. To satisfy the needs of this new audience, the tent circus now sells lattes
and wine.
Refer to Circuses. To exhibit a societal marketing orientation, circuses could:
a. rely on publicity and avoid any promotions
b. empower their employees to satisfy customer wants
c. donate a percentage of their profits to local educational institutions
d. use relationship marketing
e. emphasize customer value
Answer:
Volkswagen developed an 18-month-long project to gain a better understanding of the
American culture so it could develop cars more appealing to this market. The research
project was called Moonraker. Moonraker was intended to play a(n) ______ role in
Volkswagen's marketing research.
a. diagnostic
b. descriptive
c. predictive
d. heuristic
e. demonstrative
Answer:
The portfolio matrix is a tool for allocating resources among products or strategic
business units on the basis of relative market share and degree of innovation.
a. True
b. False
Answer:
A university hospital is interested in getting a cross section of patients' opinions on
proposed changes that will make the hospital stay more like a motel stay in terms of
amenities. The cost of the new amenities will be reflected in higher rates. The university
hospital used a random number table to select participants from the list of patients who
are currently in the hospital. This is an example of a ____ sample.
a. representational
b. convenience
c. nonprobability
d. synergistic
e. random
Answer:
Using consumers to develop and market product is called:
a. crowdfunding.
b. co-creation.
c. brainstorming.
d. closed innovation.
e. crowdsourcing.
Answer:
Bang & Olufsen make some of the best sound systems in the world. After years of
development, Bang & Olufsen recently released its new BeoLab 5 speakers. For
audiophiles who demand the best in audio equipment, the $19,950
Bang & Olufsen BeoLab 5 speakers represent an example of a(n) ___ product.
a. heterogeneous shopping
b. specialty
c. homogeneous shopping
d. convenience
e. exclusive
Answer:
The marketing manager of Gevalia gourmet coffees wants to target the gay male
consumer because he thinks this segment of consumers appreciates and consumes
gourmet coffee. Even though gay lifestyles are becoming more accepted socially, the
manager is finding it difficult to determine the market potential for this segment
because many gay consumers are not willing to admit their lifestyle publicly. Which
criterion of a useful segment does this illustrate?
a. Substantiality
b. Identifiability and measurability
c. Complexity
d. Responsiveness
e. Validity
Answer:
Russell Athletic, which is part of Berkshire Hathaway, Inc., is a market leader in sports
apparel, an industry that is growing rapidly. Russell Athletic is an example of a(n) ____
according to the portfolio matrix.
a. star
b. question mark
c. problem child
d. exclamation point
e. widow
Answer:
It makes the most sense to use price skimming when an above-average price makes the
market hesitant to buy the product.
a. True
b. False
Answer:
UniversityResearchStudy
A regional state university is experiencing declining enrollments. The administration is
concerned with this situation and has asked a marketing research class to conduct a
research study and make recommendations. One thing the administration is interested in
learning is the feasibility of offering all of their degrees online as well as through the
traditional on-campus degree program. They do not know what the market potential
would be for online degrees and potential students' attitudes and intentions toward
getting an online degree from this university.
Refer to University Research Study. Because the students must finish the research
project within a semester and do not have much money to conduct the research, which
of the following would be the best quickest and least expensive method of collecting
survey data?
a. In-home personal interviews
b. Mail surveys
c. Internet surveys
d. Conducting an experiment
e. Mall intercept interviews
Answer:
Petra McCoy has developed a product for cleaning grout called Grout-Chee. Everyone
who has tried the product really appreciates how quickly it works, but McCoy is having
trouble getting retail stores to carry the product. She has decided to send retailers free
samples and use other trade promotions to encourage stores to carry her product.
McCoy is using a(n) ____ promotional strategy.
a. kinetic
b. inert
c. push
d. advertorial
e. pull
Answer:
BoiseCascade
Boise Cascade comprises two businesses.
Boise Cascade Building Materials Distribution is one of the largest wholesale building
materials distributors in the United States. The firm's 33 distribution facilities market a
wide range of building products and services to retail lumber dealers, home
improvement centers, and industrial accounts nationwide.
BoiseCascadeWoodProductsmanufactures plywood, lumber, particleboard, and
engineered wood products (laminated veneer lumber, I-joists, and laminated beams) at
20 manufacturing facilities in the United States and Canada. The firm's wood products
are used primarily in housing, industrial construction, and a variety of manufactured
products. The wood products are sold to retail lumber dealers, home centers
specializing in the do-it- yourself market, and industrial customers.
Refer to Boise Cascade. When the demand for new housing is high, the manufactured
by Boise Cascade is also high. This is an example of:
a. joint demand.
b. inelastic demand.
c. derived demand.
d. fluctuating demand.
e. elastic demand.
Answer:
Golden Valley Microwave Foods, Inc. is the manufacturer of ACT II popcorn. In its
early years, the company had trouble financing the development and marketing of
products for the microwave, so it chose to participate in a financial arrangement in
which it agreed that it would not sell ACT II popcorn in supermarkets or grocery stores.
Which element of the marketing mix was most influenced by this arrangement?
a. Product
b. Place
c. Price
d. Public relations
e. Promotion
Answer:
What is the most effective promotional mix to use with products that are convenience
goods and purchased routinely?
a. Personal selling and advertising
b. Public relations and personal selling
c. Personal selling and sales promotion
d. Advertising and public relations
e. Sales promotion and advertising
Answer:
Kraft Foods created a magazine full of recipes and coupons for customers as well as a
Web site with product and recipe information. The goal was to get current customers to
purchase more of Kraft's products. These activities are representative of a strategy.
a. diversification
b. product development
c. market development
d. market penetration
e. product penetration
Answer:
In January 2005, Burger King sponsored the opener of the third season of
TheApprentice. The Apprentice sponsorship was an important element in Burger King's
overall marketing strategy to build social currency for the brand through contests,
advertising, and other sales promotion. That is, the brand set out to reverse negative
perceptions of Burger King through the use of a consistent and coordinated promotional
message. Burger King used:
a. coordinational promotion.
b. promotional mixing.
c. integrated marketing communications.
d. creative selling.
e. processed marketing.
Answer:
Which of the following statements about the societal orientation is FALSE?
a. Companies that protect the environment by using all-natural materials in their
products are showing a societal marketing orientation.
b. Marketers cannot deliver all benefits sought by customers, as these benefits may not
be in the long-term best interests of the customers.
c. The societal marketing concept is an important refinement of the market concept.
d. Organizations have both a social and economic justification for their existence.
e. The majority of consumers support environmentally friendly companies and willingly
paying more for these products.
Answer:
On any given day, a person may be subjected to over 2,500 advertising messages but
may only be aware of 11 to 20 of them. This is called:
a. selective distortion
b. selective learning
c. sporadic reinforcement
d. intermittent selectivity
e. selective exposure
Answer:
When consumers are sensitive to price changes, ____occurs.
a. inelastic demand
b. elastic supply
c. elastic demand
d. inelastic supply
e. unitary elasticity
Answer:
Which of the following is the BEST example of an installation?
a. A baseball stadium
b. A checkout counter
c. A lifeguard stand
d. A file cabinet
e. Original artwork
Answer:
Which marketing management philosophy focuses on the question, "What do customers
want and need?"
a. Sales
b. Production
c. Product
d. Market
e. Internal
Answer:
The main product for Zamperla Industries is gondola cars for amusement park rides and
ski lifts. Its marketing department constantly monitors trends in the external
environment that might affect the firm. Which economic factor may pose a major threat
to this company?
a. Few competitors in this industry
b. Technological improvements that are automating production of cars
c. A recession
d. Increasing interest in the environment and recycling
e. Existing legislation requiring licensing of all amusement park rides
Answer:
Alanna is looking into purchasing a scooter as gas prices continue to rise. She needs a
reasonably priced, comfortable, and safe scooter with room to store her books. She is
not familiar with scooters, and this is a major purchase for her. The purchase will
probably involve:
a. low-involvement problem solving
b. low-involvement decision making
c. extensive decision making
d. limited decision making
e. dedicated cognitive behavior
Answer:
Why is the concept of integrated marketing communications (IMC) growing in
popularity?
a. The proliferation of thousands of media choices beyond the traditional media has
made promotion a complicated task.
b. The mass market has fragmented.
c. Critics of promotion have suggested that uncoordinated promotion is wasteful and
inefficient.
d. Marketers have slashed their advertising spending in favor of promotional techniques
that generate immediate sales responses and have more easily measured effects.
e. All of these statements help to explain why IMC is growing in popularity.
Answer:
In most communities, the price of gas is more or less the same at all area service
stations. This is an example of sales-oriented pricing.
a. True
b. False
Answer:
Which unique characteristic of services means that consumers must be present during
the production?
a. Intangibility
b. Inseparability
c. Heterogeneity
d. Perishability
e. Connectivity
Answer:
BoutiqueHotels
In an industry where guests are tired of cookie-cutter hotels, some consumers are
looking for personalized service, which can be found in boutique hotels. Boutique
hotels cater to their guests' sense of their personal image as being discriminating, more
sophisticated, and more hip. Frequently, these guests don"t want to be where the crowds
are. This is a small but growing market niche. There are no generally recognized rules
for boutique hotels, but they tend to be small and service oriented, with high-style decor
and top-notch restaurants. Employees are called cast members. Amenities include
cordless phones, DVR players hooked up to HD televisions, Aveda brand bath and hair
products, and down comforters and pillows.
Refer to Boutique Hotels. Boutique hotels encourage employees to develop personal
relationships with guests. The hotels offer value-added services that are not available at
traditional hotels. At which level of relationship marketing are these hotels operating?
a. First
b. Second
c. Third
d. Fourth
e. Fifth
Answer:
