Of all the online consumer lifestyle segments, __________ are most likely to view the
Internet as a convenience tool.
a. time-sensitive materialists
b. ebivalent newbies
c. click-and-mortar
d. brand loyalists
e. hooked, online, and single
Answer:
A competitive (or persuasive) ad
a. reinforces previous knowledge of a product.
b. assures current users they made the right choice.
c. promotes a specific brand’s features and benefits.
d. tells people what a product is, what it can do, and where it can be found.
e. shows one brand’s strengths relative to those of competitors.
Answer:
Several years ago, the Honda Motor Company unveiled the hybrid version of the Honda
Civic. While the hybrid vehicles are very fuel efficient, they are also very expensive to
purchase. Hybrid vehicles sales have increased over 570 percent with a compound
annual growth rate of 88.6%. Sales of the Civic eventually overtook those of the Toyota
Prius, making it the number one hybrid car in the U.S. For years, Honda has
experienced tremendous success with their Accordsin fact, these Honda cars are the
top-selling automobiles in the U.S. Where would the Honda Civic (hybrid version) and
the Honda Accord fall in the BCG business portfolio analysis matrix?
a. The hybrid Civic is a star; the Accord is a cash cow.
b. The hybrid Civic is a cash cow; the Accord is a star.
c. Due to the overwhelming success of Honda cars, both the Accord and the hybrid
Civic are cash cows.
d. The hybrid Civic is a hedgehog; the Accord is a cash cow.
e. The hybrid Civic is a dog; the Accord is a star.
Answer:
In a(n) __________ economy, if prices rise faster than consumer incomes, the number
of items consumers can buy decreases.
a. deflationary
b. stagflationary
c. recessionary
d. inflationary
e. depressive
Answer:
A tying arrangement refers to when a supplier
a. requires a distributor purchasing some products to buy others from the supplier.
b. requires channel members to sell only its products or restricts distributors from
selling directly competitive products.
c. stipulates to whom distributors may resell the supplier’s products and in what specific
geographical areas or territories they may sell.
d. requires a channel member to sell only its products.
e. requires a channel member to finance all loans through the seller’s bank.
Answer:
Brand personality refers to __________.
a. the personification of a brand in terms of its benefits
b. a brand name that cannot be spoken
c. a set of human characteristics associated with a brand name
d. the added value a brand name gives to a product beyond the functional benefits
provided
e. the embedded association between a company spokesman or paid celebrity and the
product itself
Answer:
There are three approaches to viral marketing. Marketers can: (1) __________; (2)
make the website content so compelling that viewers want to share it with others; and
(3) offer incentives for referrals.
a. embed a message in the product or service
b. use customerization
c. use choiceboards
d. use niche marketing
e. use permission marketing
Answer:
Which of the following statements about sustainable development is most accurate?
a. A company that always makes its furniture from rare tropical woods is practicing
sustainable development.
b. At this point in time, sustainable development is a luxury that only large international
companies can achieve.
c. Sustainable development is achieved when a firm’s sales growth rate increases an
average of 1-2% per year for a period of at least five years.
d. A company that uses overseas child laborers to manufacturer its products to reduce
costs does not practice sustainable development.
e. Unfortunately, only a small number of consumers care whether a company practices
sustainable development.
Answer:
One disadvantage of using the Internet as an advertising medium is
a. as a relatively new medium, it has attracted limited use.
b. pay-per-click search ads on Google are expensive and ineffective.
c. it is difficult to translate messages that can be used in social media networks like
Facebook and Twitter.
d. it often creates more traffic than a firm can actually handle.
e. animation can require a long download time.
Answer:
The Malaysian government recently exchanged 20,000 tons of rice for an equivalent
amount of Philippine corn. This is an example of (a)
a. competitive advantage.
b. countertrade.
c. balance of trade.
d. quota.
e. trade feedback.
Answer:
The purpose of the national Do Not Call Registry is to
a. prevent manufacturers from being deluged with customer complaints during business
hours.
b. separate listed from unlisted phone numbers in telephone books and online
information directories.
c. divert enquiries from manufacturers to their suppliers that are ultimately responsible
for product distribution.
d. remove identification codes from mobile phones and tablet devices that would
identify them as customers as well as their locations.
e. protect consumers from unsolicited telemarketing calls.
Answer:
Cost per click is a performance measure in which __________, whereas cost per
thousand is a performance measure in which __________.
a. a company paying a set amount to Facebook for every purchase that originated from
an ad on a website; a company that pays pennies for every time its ad loads on a
Facebook page, up to $10,000
b. a company that pays pennies for every time its ad loads on a Facebook page, up to
$10,000; a company paying a set amount to Facebook for every time a user clicks on its
ad
c. a company paying a set amount to Facebook for every time a user clicks on its ad and
goes to its website; a company that pays pennies for every time its ad loads on a
Facebook page, up to $10,000
d. a company paying a set amount to Facebook for every purchase that originated from
an ad on a website; a company paying a set amount for the ad to be placed on the
website for a certain amount of time
e. a company paying a set amount for the ad to be placed on the website for a certain
amount of time; a company paying a set amount to Facebook for every purchase that
originated from an ad on a website
Answer:
A salesperson who specializes in identifying, analyzing, and solving customer problems
and brings know-how and technical expertise to the selling situation, but often does not
actually sell products and services, is referred to as a __________.
a. specialized order taker
b. designated order getter
c. missionary salesperson
d. sales engineer
e. sales technician
Answer:
In the hierarchy of needs, __________ needs involve self-preservation as well as
physical and financial well-being.
a. physiological
b. social
c. personal
d. safety
e. self-actualization
Answer:
In a buying center, __________ have formal authority and responsibility to select the
supplier and negotiate the terms of a contract.
a. buyers
b. gatekeepers
c. deciders
d. influencers
e. users
Answer:
One of the biggest problems online retailers face is that nearly two-thirds of online
shoppers make it to “checkout” and then leave the website to compare shipping costs
and prices on other sites. Of the shoppers who leave, __________ percent do not return.
a. 30%
b. 40%
c. 50%
d. 60%
e. 70%
Answer:
What did Toyota do to reach World of Warcraft’s 2.5 million U.S. players?
a. Toyota sponsored an expansion pack of the game.
b. Toyota purchased the personal information of users from the game company to send
e-mails.
c. Toyota used mechanics and pictures in a commercial.
d. Toyota paid to have likenesses of their vehicles appear in the game as product
placement.
e. Toyota paid to have ads placed on the game’s website.
Answer:
Members of the Book Promoters Association of Canada recently questioned what could
be done to rejuvenate the Canadian book publishing industry. Some members claimed
the problem was Canadian bookstores had been replaced by Walmarts. Others said the
problem was with stodgy promotions. Still others said the problem was caused by too
little money being budgeted to fund marketing programs. The best way to identify the
problem would be to use __________.
a. market analysis
b. marketing management
c. marketing audit
d. marketing research
e. data mining
Answer:
Figure 1.
The consumers represented by “D” in Figure 1. above are called __________.
a. innovators
b. late majority
c. early majority
d. early adopters
e. laggards
Answer:
Figure 1.C: Average Annual Sales per Household of Tony’s Pizza, by Household
Size
Figure 1.C above shows that
a. Tony’s Pizza sales to households with 5 or more people increased over the period
2008 to 2011.
b. households with 5 or more people bought the least amount of Tony’s Pizza over the
period 2008 to 2011.
c. from 2008 to 2011, as single people married and became two person households, the
increase in sales of Tony’s Pizza was greater than the expected 200% change.
d. Tony’s Pizza sales to households with 2 people have remained relatively steady from
2008 to 2011.
e. the changes from year to year are really not significant since overall sales of Tony’s
Pizza have continued to increase.
Answer:
Assume it costs Lady Marion Seafood, Inc. $30 to catch, process, freeze, package, and
ship 5-pound packages of Alaskan salmon. The firm adds 60 percent to the cost of its
salmon products and charges customers $48 for a postage-paid vacuum-sealed package.
What type of pricing does Lady Marion Seafood use to arrive at its final price?
a. target return-on-sales pricing
b. standard markdown pricing
c. standard markup pricing
d. target profit pricing
e. customary pricing
Answer:
Many cruise lines pay the customer’s airfare to the point of cruise departure. What type
of price adjustment are the cruise lines using?
a. skimming pricing
b. promotional pricing
c. loss-leader pricing
d. prestige pricing
e. uniform delivered pricing
Answer:
Figure 1.
Consider Figure 1. above. A Florida-based flashlight company has been extremely
successful due in part to the number of hurricanes in Florida that result in power
outages. The firm is thinking of expanding its product offerings to include other
emergency supplies such as generators and survival kits (consisting of food bars, a
water filtration system, first aid supplies, etc.). Before going ahead with this decision,
there were several factors that had to be taken into consideration: (1) The firm has a
great reputation with its flashlights and does not want to ruin it. (2) Its physical plant
could be refitted relatively easily to make small generators, but it would be rather
costly. (3) It would have to rely on another firm to manufacture and package the
survival kits. (4) Although there are nine named hurricanes forecasted for the upcoming
year, no one really can predict what will happen. The projected number of hurricanes
would fall in which quadrant(s) of the SWOT analysis grid?
a. “A”
b. “B”
c. “C”
d. “D”
e. “C” and “D”
Answer:
Which of the following statements regarding goods is MOST accurate?
a. In order to be classified as a good, an item must appeal to all five senses.
b. Music is not considered a good because it only involves a single sensehearing.
c. In addition to appealing to the senses, some goods also have intangible attributes.
d. To market a good that contains visual attributes, you cannot use an auditory medium.
e. The aroma of chocolate chip cookies is considered an idea because it affects one’s
senses.
Answer:
The initial purchase of a product by a consumer is referred to as a(n) _________.
a. product sampling
b. first buy
c. trial
d. assessment
e. examination period
Answer:
Which of the following is an example of a demand condition?
a. available natural resources
b. existence of supplier clusters
c. sophistication of consumers
d. intensity of competition
e. competitive wage rates
Answer:
There are several reasons why a consumer would be reluctant to adopt a new product.
For example, a consumer might be reluctant to adopt a new product because of a risk
barrier, which occurs when __________.
a. there is no incentive to change
b. there are physical, economic, or social issues
c. there are cultural differences
d. the financial commitment is too great
e. the product is not consistent with existing habits
Answer:
When a company telephones people to ask them to contribute to the Police Benevolent
Association (PBA), the calling company is using __________.
a. advertising
b. personal selling
c. sales promotion
d. public relations
e. publicity
Answer:
Research indicates that there are four key factors involved with salesforce motivation:
(1) a clear job description; (2) __________; (3) a personal need for achievement; and
(4) proper compensation, incentives, or rewards.
a. an opportunity for professional growth
b. a moderate degree of competitive spirit within a team
c. effective sales management practices
d. constructive criticism
e. adequate time for bookkeeping and paperwork
Answer:
One of the eight primary MARKETING-RELATED reasons for new-product failure
is __________.
a. the product is too innovative
b. a competitor with a similar product withdrew from the market
c. too socially controversial
d. poor product quality
e. product was marketed as a “new” product but did not meet the legal definition of
“new”
Answer:
Three different objectives relate to a firm’s profit, which have different implications for
pricing strategy. The three profit-oriented objectives include __________, maximizing
current profit, and achieving a target return.
a. accumulating profits
b. managing for long-run profits
c. reinvesting profits
d. redistributing profits
e. maximizing gross margin
Answer:
Sources of external information that originate with the sellers of products and services
and include advertising, company websites, salespeople, and point-of-purchase displays
in stores are referred to as
a. relational sources.
b. public sources.
c. personal sources.
d. stakeholder sources.
e. marketer-dominated sources.
Answer: