Communication is the process of conveying a message to others and it requires six
elements. These elements include: a source, a message, a channel of communication, a
receiver, and __________.
A. a concept
B. an offer
C. a slogan
D. a brand
E. the processes of encoding and decoding
Answer:
The BCG has given specific names and descriptions to the four resulting quadrants in
its growth-share matrix based on the amount of cash they generate for or require from
the organization. Dogs are SBUs that are classified as having
A. high market growth rates and high relative market shares.
B. low market growth rates but high relative market shares.
C. low market growth rates and low relative market shares.
D. high market growth rates but low relative market shares.
E. medium market growth rates and medium relative market shares.
Answer:
There are five stages in the consumer purchase decision process. The fourth stage is
__________.
A. information search
B. purchase decision
C. alternative evaluation
D. option testing
E. problem recognition
Answer:
Figure 14-5
The promotion decision process is divided into three phases. In Figure 14-5 above, Box
A refers to the __________ phase.
A. planning
B. forecasting
C. evaluation
D. realization
E. implementation
Answer:
The purpose of environmental scanning is to
A. only identify trends in the marketplace.
B. only interpret trends in the marketplace.
C. only forecast trends in the marketplace.
D. identify, interpret, and forecast trends in the marketplace.
E. only identify and interpret trends in the marketplace.
Answer:
Outside the United States, large retailers include __________ in Japan, Carrefour in
France, Metro Group in Germany, and Tesco in Britain.
A. Aeon
B. Toshei
C. Seebi
D. Goshen
E. Toshi
Answer:
Cardiac Science is a California-based company that makes defibrillators, heart
monitors, and other medical equipment. It is preparing to market its products in Greece.
The company’s marketing manager is responsible for the promotional campaign in
Greece, and she wants to avoid any problems that might arise because her field of
experience does not coincide with that of her Greek target audience. Which of the
following is the best example of a communications problem that might arise because of
this type of difference?
A. The name of the product, when translated into Greek, has an unintentional meaning.
B. Her target audience is strongly ethnocentric.
C. The trade journals in which the company wants to run its ads do not accept ads from
foreign companies.
D. A Greek bureaucrat who is responsible for determining that the Cardiac Science
products meet national standards has taken a personal dislike to her.
E. The ads are in trade journals that Greek hospital administrators do not read.
Answer:
Red Carpet Baby!, a children’s accessory and toy store, is considering expanding the
size of the store. The manager queries its marketing database to understand how a
change in square footage might impact sales. She is performing a(n) __________.
A. marketing action analysis
B. environmental scan
C. situational analysis
D. sensitivity analysis
E. problem search
Answer:
Internet-enabled capabilities that make possible a highly interactive and individualized
information and exchange environment for shoppers and buyers is referred to as
__________.
A. connectivity
B. customerization
C. customization
D. communication
E. convenience
Answer:
__________ argued that senior managers of 20th century American railroads defined
their business too narrowly, thus failing to create strategies to compete with airlines,
barges, pipelines, and trucks.
A. Earl Bakken
B. Mark Zuckerberg
C. Reed Hastings
D. Theodore Levitt
E. Steve Jobs
Answer:
Which of the following transactions occurred in the marketspace?
A. Connie sold Discovery Toys creative puzzles at an in-home demonstration.
B. Joan bought a brand new pair of Dansko shoes through Zappos.com.
C. Shelby purchased an iPhone case at a kiosk at the airport.
D. Corey bought a double-dipped chocolate ice cream cone from the ice cream person
when his mobile ice cream truck came down the street.
E. Josh bought his mother a menorah through the Source for Everything Jewish gift
catalog by calling a toll-free telephone number.
Answer:
Companies that use a(n) __________ marketing strategy have as many different
product variations, brand names, and advertising programs as countries in which they
do business.
A. ethnocentric
B. multidomestic
C. transnational
D. global
E. international
Answer:
The purpose of the __________ is to forbid certain actions that are likely to lessen
competition, although no actual harm has yet occurred.
A. Federal Trade Commission Act
B. Lanham Act
C. Clayton Act
D. Sherman Antitrust Act
E. Robinson-Patman Act
Answer:
Demographics refer to
A. the description of a population according to its values or cultural beliefs.
B. an objective measurement of a person’s likelihood to purchase a product or service.
C. the psychological profile of prospective consumers.
D. the density of a population in a geographic area.
E. the description of a population according to selected characteristics such as age,
gender, ethnicity, income, and occupation.
Answer:
Burberry makes fine raincoats, clothing, and other items, many that feature the
company’s distinctive plaid. Originally found only in Great Britain, Burberry has
opened a limited number of exclusive shops in leading cities around the world to reach
customers who value its name and quality. Burberry is selling which classification of
consumer product?
A. convenience product
B. shopping product
C. discretionary product
D. unsought product
E. specialty product
Answer:
Lost-horse forecasting involves
A. admitting that the actions you have taken in the past have failed and removing those
and similar actions from you list of alternatives.
B. starting with the last known value of the item being forecast, listing the factors that
could affect the forecast, assessing whether they have a positive or negative impact, and
making the final forecast.
C. making decisions without any intervening steps.
D. following a prescribed set of “directives” established before the research was even
begun.
E. selecting the forecasting alternative that would allow a firm to survive financially
even if the forecasts were totally incorrect.
Answer:
The four major types of limited-service merchant wholesalers are cash and carry
wholesalers, drop shippers, truck jobbers, and __________.
A. display vendors
B. rack jobbers
C. point of purchase wholesalers
D. transport vendors
E. container transport vendors
Answer:
The BCG has given specific names and descriptions to the four resulting quadrants in
its growth-share matrix based on the amount of cash they generate for or require from
the organization. Cash cows are located in which quadrant of the BCG growth-share
matrix?
A. upper left quadrant
B. upper right quadrant
C. center of the four quadrants
D. lower right quadrant
E. lower left quadrant
Answer:
In terms of target market coverage, density refers to the number of __________ in a
geographical area.
A. target market customers
B. competitors
C. wholesalers
D. retail stores
E. stakeholders
Answer:
The difference between the retailer’s cost and the initial selling price is referred to as
__________.
A. gross margin
B. maintained markup
C. markdown
D. differential markup
E. original markup
Answer:
Managers often use two special indexes to help identify strong and weak market
segments in order to provide direction for marketing efforts. One of these indexes is the
CDI or __________.
A. category development index
B. consumer development index
C. competitive development index
D. channel development index
E. customization development index
Answer:
Figure 17-2
The sales process at Xerox typically follows the six stages of the personal selling
process. During the sixth stage, the salesperson continues to meet and communicate
with the client to
A. remove all competitors’ products from the clients’ offices.
B. sell ancillary and complementary products.
C. provide assistance and monitor the effectiveness of the installed solution.
D. request leads for other potential sales.
E. offer special price incentives for future pre-buys.
Answer:
Figure 10-1
Figure 10-1 above represents the stages of the product life cycle. What does the curve
labeled Y represent?
A. total variable costs
B. total fixed costs
C. total industry profit
D. total industry sales revenue
E. total research and development costs
Answer:
The amount added to the cost the retailer paid for a product to reach the final selling
price is referred to as a(n) __________.
A. markup
B. markdown
C. original markup
D. maintained markup
E. gross margin
Answer:
Figure 2-2
In Figure 2-2 above, Box A represents the “why” element of visionary organization.
This is referred to as __________.
A. organizational foundation
B. organizational tactics
C. organizational mission
D. organizational direction
E. organizational strategies
Answer:
The Philadelphia Phillies baseball team may have great hitting and pitching one day,
and lose by 10 runs on the next. This is an example of a service being
A. inseparable.
B. inconsistent.
C. inventoried.
D. tied to a product.
E. independent of the quality delivered.
Answer:
The legal concept of let the buyer beware,’ which was pervasive in the American
business culture prior to the 1960s, is referred to as __________.
A. ad nauseum
B. mea culpa
C. quid pro quo
D. ćest la vie
E. caveat emptor
Answer:
Two important disadvantages of secondary data are __________ and __________.
A. inexpensive; up-to-date
B. not up-to-date; not specific enough for the project
C. low cost; saves time
D. tailor-made to specifications; out of date
E. cost; time-consuming to collect the data
Answer:
Infomercials refer to
A. public service announcements used to notify local citizens of impending danger due
to weather or other natural disasters.
B. a form of advertisement whose sole purpose is to entertain.
C. program-length (30-minute) advertisements that take an educational approach to
communication with potential customers.
D. direct response TV and radio ads that air during the late night or weekend mornings.
E. educationally-formatted programming that consumers order privately by using the
“On Demand” button on their cable TV remote and DVR set-up box.
Answer:
Todd Harris and Associates, a New York sales promotion agency, discovered from an
analysis of its files that one-quarter (or 25 percent) of its clients generated more than
three-quarters (or 75 percent) of its fees and commissions. This is an example of what
classic concept?
A. the two quarter gap
B. the 80/20 rule
C. the law of usage
D. the 75/25 exchange
E. Paul’s Law
Answer: