In evaluating whether its Facebook and Twitter social media programs are working
well, Carmex considered using various marketing metrics. One metric it considered was
the percentage of Internet Carmex share of voice mentions that are positive, neutral, or
negative. This metric is called
a. Carmex sentiment.
b. Carmex Twitter followers.
c. Carmex conversation velocity.
d. Carmex Facebook likers (or Fans or likes).
e. Carmex share of voice.
Answer:
Loehmann’s is an upscale, off-price specialty retailer for name-brand designer fashions.
Loehmann’s provides consumers with
a. full-service.
b. limited service.
c. self- service.
d. restricted service.
e. functional service.
Answer:
Environmental scanning refers to
a. assessing any possible negative impact a firm’s activities might have on the local
ecology.
b. continually acquiring information on events occurring outside the organization to
identify and interpret potential trends.
c. setting up a regular schedule to assess the performance of different divisions within a
firm.
d. initiating an internal talent search to identify employees who can think “outside the
box” to generate solutions to marketing problems caused by changes in the marketing
environment.
e. requiring all employees to spend time outside the office to avoid the “ivory tower”
syndrome.
Answer:
Once a company has decided to enter the global marketplace, it must select a means of
market entry. Four general options exist: (1) exporting; (2) __________; (3) joint
venture; and (4) direct investment.
a. macrofinancing
b. microfinancing
c. franchising
d. licensing
e. collateral
Answer:
Figure 1.
Based on the social media identified in Figure 1. above, the social media site rated
highest in media richness and lowest in self-disclosure is
a. Wikipedia.
b. Facebook.
c. Second Life.
d. World of Warcraft.
e. Farmville.
Answer:
Variables such as location, the North American Industry Classification System (NAICS)
code, and type of buy are all examples of ways to
a. differentiate products.
b. forecast sales to a consumer market.
c. segment an organizational market.
d. segment a consumer market.
e. promote NAFTA.
Answer:
Figure 1.
Figure 1. above depicts the four most common marketing channels for business
products and services. “Z” represents
a. consumers.
b. industrial users.
c. dual distributors.
d. agents or brokers.
e. industrial distributors.
Answer:
Which of the following is a criterion used in forming market segments?
a. your competitors have similar segments
b. differences between potential suppliers or distributors
c. differences of needs of buyers within segments
d. no marketing action to reach a segment
e. simplicity and cost of assigning potential buyers to segments
Answer:
In terms of new product purchases, early adopters __________.
a. have a fear of debt and use neighbors and friends as information sources
b. are skeptical and have below average social status
c. are deliberate and use many informal social contacts
d. are leaders in social settings and have a slightly above average education
e. are venturesome, highly educated, and use multiple information sources
Answer:
Two or more competitors explicitly or implicitly setting prices is referred to as
__________.
a. competitive collusion
b. vertical price fixing
c. horizontal price fixing
d. lateral price fixing
e. price cooperation
Answer:
A product that disrupts consumers’ normal routines but does not require totally new
learning is a
a. continuous innovation.
b. discontinuous innovation.
c. dynamically continuous innovation.
d. partial innovation.
e. disruptive innovation.
Answer:
In choosing the appropriate marketing channel, a firm should consider the interests that
buyers might want fulfilled. These interests fall into four broad categories: (1)
information; (2) convenience; (3) variety; and (4) __________.
a. availability
b. quality
c. brand name recognition
d. price
e. pre- or postsale services
Answer:
Figure 1.
Figure 1. above shows there are six stages in the personal selling process (“A” through
“F”) along with the objective(s) of each stage. If the salesperson’s objective is to “begin
converting a prospect into a customer by creating a desire for the product or service,”
what stage of the personal selling process is the salesperson engaged in?
a. approach
b. preapproach
c. presentation
d. prospecting
e. follow-up
Answer:
The cluster of benefits that an organization promises customers to satisfy their needs is
referred to as a(n) __________.
a. core benefit proposal
b. product protocol
c. marketing program
d. customer value
e. customer value proposition
Answer:
Which of the following statements about 3M’s marketing program for Post-it Flag
Highlighters is most accurate?
a. In his first attempt, Windorski, a 3M inventor, designed the Post-it Flag Highlighter
in exactly the right way to appeal to its target market.
b. 3M designed the packaging for the Post-it Flag Highlighter based on its designer’s
suggestions.
c. Windorski, a 3M inventor, also developed the Post-it Flag Pen for the smaller office
worker segment.
d. The Post-it Flag Highlighter was not successful and was deleted from the Post-it Flag
product line.
e. Windorski examined similar products of 3M’s major competitors and simply made
changes that would provide the “WOW” factor.
Answer:
Significant changes in attitudes of men and women have occurred during the past thirty
years. However, __________ believe that there is still a need for improvement in the
workplace and in politics.
a. baby boomers
b. women of Generation X
c. men of Generation X
d. women of Generation Y
e. men of Generation Y
Answer:
With a limited marketing budget, the AOI team concluded the best way to develop a
following was to
a. develop a hypothetical LinkedIn “connection” for each Bitter Girl.
b. produce a 3-minute YouTube video, hoping it would go viral.
c. utilize its own website and Facebook.
d. aggressively describe Bitter Girls on Twitter.
e. feature creative stories about each Bitter Girl that then appear on Vimeo.
Answer:
Formulating the sales plan involves three tasks: (1) __________; (2) organizing the
salesforce; and (3) developing account management policies.
a. hiring sales reps
b. developing the sales plan
c. establishing the budget
d. setting objectives
e. identifying qualified leads
Answer:
The services market sells diverse services such as legal advice, auto repair, and dry
cleaning. Along with __________, insurance, and real estate businesses, and
transportation, communication and public utility firms, and not for profit, these firms
represent about 75 percent of all industrial firms.
a. finance
b. wholesalers
c. retailers
d. government units
e. educational institutions
Answer:
One of the disadvantages associated with television as an advertising medium is that it
a. cannot target specific audiences.
b. is very expensive to prepare and run ads.
c. must use print for effect.
d. has an unlimited amount of advertising time available.
e. is not effective for conveying simple messages.
Answer:
In the VALS framework, those consumers who are practical and deliberate
information-seekers, and who value durability and functionality in products over styling
and newness, are called
a. Experiencers.
b. Achievers.
c. Believers.
d. Thinkers.
e. Innovators.
Answer:
The most basic of the three sales management functions is __________.
a. sales plan analysis
b. sales plan formulation
c. sales plan objective
d. sales plan evaluation
e. sales plan implementation
Answer:
A local country club has a great golf course, swimming pool, tennis courts, and even a
stable for horses. It also has numerous high-profile business people and local politicians
as members. To attract new members, the club’s board of directors should focus its
marketing efforts on people who view its current members as a(n) __________ group.
a. achieving
b. aspiration
c. dissociative
d. pressure
e. involvement
Answer:
College students who wear sweatshirts displaying the Greek letters for fraternities or
sororities to which they belong are demonstrating pride in a(n) __________ group.
a. dissociative
b. aspiration
c. membership
d. identification
e. political
Answer:
Goodyear Tire dealers became irate when Goodyear Tire Company decided to sell its
brands through Sears, Walmart, and Sam’s Clubs. Many switched to competing tire
makers. This is an example of __________.
a. corporate conflict
b. vertical conflict
c. horizontal conflict
d. administered conflict
e. contractual conflict
Answer:
Gross rating points (GRPs) are determined by the formula
a. reach multiplied by frequency.
b. reach multiplied by rating.
c. rating multiplied by frequency.
d. cost divided by reach.
e. cost divided by frequency.
Answer:
Cross-docking refers to
a. the practice of organizing the cost-effective flow of raw materials, in-process
inventory, finished goods, and related information from point of origin to point of
consumption to satisfy customer requirements.
b. the practice of storing finished goods in the same trucks from which they will be
dispensed and sold to consumers.
c. using large cargo containers that will be loaded to trucks and then to barges or ships
that sail from port to port and then unloaded back to trucks for final transport and
delivery.
d. a practice that involves unloading products from suppliers, sorting products for
individual stores, and quickly reloading products onto trucks for a particular store.
e. the practice of transporting retail goods from a centralized warehouse to the loading
docks of regionally located satellite warehouses.
Answer:
In the organizational buying process, important product or service characteristics
include multiple buying influences, a predominance of raw and semifinished goods, and
a. delivery time, technical assistance, and postsale service.
b. low price, buyer incentives, and extended contracts.
c. buyer incentives, technical assistance, and exclusive contracts.
d. quantity discounts, delivery time, and exclusive contracts.
e. low price, buyer incentives, and post-sale service.
Answer:
A webpage that serves as a publicly accessible personal journal for an individual or an
organization is referred to as __________.
a. spam
b. a blog
c. buzz
d. a forum
e. a journalog
Answer:
To be identified as a market segment, its members must
a. represent a large share of the entire market and have buying power.
b. have common needs and respond similarly to a marketing action.
c. have different needs and have potential for future growth.
d. have different needs and respond similarly to market actions.
e. have the potential for future growth and increased profit or ROI.
Answer:
Which output report is used in the implementation phase of the strategic marketing
process?
a. marketing plans that define goals
b. projections of sales and expenses
c. action memos that tell who is to do what by when
d. corrective action memos
e. tracking reports
Answer: