Publix Supermarkets and The Little Clinic signed an exclusive agreement, placing small
walk-in health clinics inside selected stores. Publix customers can have simple medical
needs addressed in a convenient and familiar environment seven days a week and pick
up their prescriptions from the pharmacy without leaving the store. This is an example
of
A. supplier management.
B. customer valuation.
C. societal marketing.
D. market aggregation.
E. relationship marketing.
Answer:
The Better Business Bureau (BBB) tries to use __________ to get its members to
comply with its standards of business conduct.
A. the FTC
B. industry trade associations
C. moral suasion
D. the courts
E. competitors
Answer:
When participating in major projects in college marketing classes, effective teams can
make use of a __________ to be sure that each team member does a fair amount of
work and that their class projects are finished efficiently and on time.
A. market-product grid
B. project schedule
C. Plan-A-Gram
D. Gantt chart
E. sales response function
Answer:
Which of the following statements best describes the activities of a whistle-blower?
A. Mattel employees were sorry that 150 of the 10 million Power Wheels cars and
trucks the company sold had caught on fire.
B. Mattel research engineers proved that the spate of fires in the company’s Power
Wheels cars and trucks was the result of consumers’ tinkering with the engine.
C. A former Mattel employee owned one of the Mattel Power Wheel cars that caught on
fire and slightly burned its rider.
D. The Consumer Product Safety Commission investigated the fires and ordered a
recall to repair all of the 10 million units that had been sold.
E. A Mattel employee reported to the Consumer Product Safety Commission that Mattel
knowingly sold Power Wheels with an electrical system that could catch on fire after
prolonged use.
Answer:
Figure 8-4
To the owner of a Wendy’s fast food restaurant, the information in Figure 8-4 above
suggests that Wendy’s prospects are __________ of the total compared to __________
for McDonald’s.
A. 57.0 percent, 51.0 percent
B. 15.2 percent, 40.5 percent
C. 14.6 percent, 14.6 percent
D. 15.2 percent, 19.0 percent
E. 57.0 percent, 26.0 percent
Answer:
Subway is a popular __________.
A. business-format franchise
B. product-distribution franchise
C. operations franchise venture
D. manufacturing franchise
E. general service franchise
Answer:
Which of the following terms best describes the marketing concept?
A. consumer-oriented
B. production-oriented
C. sales-oriented
D. society-oriented
E. competition-oriented
Answer:
Which of these statements regarding organizational buyers is most accurate?
A. Wholesalers and retailers resell the goods they buy without reprocessing them.
B. Wholesalers and retailers alter the goods they sell to meet the specific needs of their
customers prior to resale.
C. Manufacturers purchase processed goods and resell them to suppliers who in turn
resell them to ultimate consumers.
D. Ultimate consumers can be considered organizational buyers when they purchase in
large quantities.
E. Government agency purchases are more similar to ultimate consumer purchases than
they are to wholesalers and retailers.
Answer:
An example of __________ utility involves intermediaries shipping goods to buyers of
a product.
A. time
B. form
C. place
D. possession
E. transactional
Answer:
Trade among nations or regions depends on political stability. In recent times, billions
of dollars have been lost in __________ and __________ as a result of internal political
strife, terrorism, and war.
A. Russia; Poland
B. France; Spain
C. China; Japan
D. the Middle East; Africa
E. Germany; the United Kingdom
Answer:
LG, a consumer electronics manufacturer, recently introduced a 55″ Internet-capable,
3D OLED (Organic Light Emitting Diode) HDTV. As its marketing manager, you have
used lifestyle analysis in the past, particularly the VALS system, to help you profile
your customers. Which of the following VALS profiles would be the most likely target
market for this product?
A. Survivors
B. Believers
C. Experiencers
D. Achievers
E. Innovators
Answer:
All of the following are alternative forms of institutional advertisements EXCEPT:
A. competitive
B. public service
C. reminder
D. pioneering
E. advocacy
Answer:
A manufacturer of a new all-natural-ingredient shampoo and conditioner puts free
samples of the product in Sunday newspapers to __________.
A. simulate laggard usage of the product
B. inhibit the innovation diffusion process
C. encourage product trial and adoption
D. erect product adoption barriers against its competitors
E. circumvent the typical adoption cycle
Answer:
Industry analysts estimate that the number of e-mail mailboxes worldwide will grow to
__________ by 2016.
A. 2.1 billion
B. 2.5 billion
C. 3.1 billion
D. 3.5 billion
E. 4.3 billion
Answer:
Facts and figures that are newly collected for a project at hand are referred to as
A. statistical data.
B. empirical data.
C. secondary data.
D. primary data.
E. inferential data.
Answer:
Bob Biltmore owns dozens of successful print shops in the Midwest. Biltmore’s shops
specialize in low-cost black-and-white copies and feature user-friendly machines
consumers can easily operate. In recent months, Biltmore has noticed more competition
near his stores. In an attempt to eliminate the competition, Biltmore has decided to
charge a very low price for his black-and-white copies, a price so low his competitors
will be forced to close. After that, Biltmore plans to raise copy prices. He plans to
engage in the illegal and unethical practice of
A. price fixing.
B. price inflation.
C. deceptive pricing.
D. competitive pricing.
E. predatory pricing.
Answer:
Business products are also referred to as __________.
A. B2B products
B. B2C products
C. B4B products
D. BOB products
E. B4C products
Answer:
Industry research shows that outside order getters, or field service representatives, often
work over __________ per week.
A. 48 hours
B. 50 hours
C. 55 hours
D. 60 hours
E. 65 hours
Answer:
Three different objectives relate to a firm’s profit, which have different implications for
pricing strategy. The three profit-oriented objectives include __________, managing
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:
Important product or service characteristics in organizational buying include which of
the following?
A. Products or services that are technical in nature and purchased on the basis of
specifications.
B. A heavy emphasis is placed on delivery time, technical assistance, and postsale
service.
C. Direct selling to organizational buyers is rare.
D. A fixed, nonnegotiable price is the norm.
E. Personal relationships are preferred to online buying over the Internet.
Answer:
A market-product grid is a framework to relate
A. total estimated expenses for each product sold to each market segment.
B. total anticipated revenue for each product-market segment combination.
C. total anticipated profit for each product sold to each market segment.
D. the market segments of current buyers to relative market share compared to the
largest competitor.
E. the market segments of potential buyers to products offered or potential marketing
actions by an organization.
Answer:
In the traditional sense, a __________ is where buyers and sellers engage in
face-to-face exchange relationships in a material environment characterized by physical
facilities and mostly tangible objects.
A. marketspace
B. multichannel online mall
C. cyberstore
D. virtual store
E. marketplace
Answer:
If a firm’s marketing dashboard displays a CDI under 100 for a consumer packaged
good, such as General Mills’ Warm Delights Minis, this indicates which of the
following?
A. a weak brand position in a segment
B. a strong brand position in a segment
C. above-average product category purchases by a market segment
D. below-average product category purchases by a market segment
E. There is not enough information to make any conclusions.
Answer:
The level of service that requires that the customers themselves to perform many
functions during the purchase process is __________.
A. non-service
B. limited-service
C. self-service
D. reduced-service
E. automated-service
Answer:
An example of a public source of information consulted during an external search
would include
A. advertising.
B. relatives.
C. salespeople.
D. friends.
E. product-rating organizations.
Answer:
Which of the following products would have a fashion product life cycle curve?
A. high-top sneakers
B. parabolic skis
C. personal flotation devices
D. razor blades
E. hockey helmets
Answer:
How a person establishes expectations for a service not yet experienced is influenced by
word-of-mouth communications, personal needs, __________, and promotional
activities.
A. how the organization delivers its service
B. past experiences
C. competitive trends
D. the economy
E. consumer income
Answer:
A reduction from the list price that a seller gives a buyer as a reward for some activity
of the buyer that is favorable to the seller is called
A. the pretax price.
B. the list price.
C. the manufacturer’s suggested retail price (MSRP).
D. a discount.
E. a trade-in allowance.
Answer:
A nonprofit organization is
A. a nongovernmental organization that serves its customers but does not have profit as
an organizational goal.
B. a legal entity engaged in business activities solely with the intent of serving its
employees without the intent of making a profit.
C. a publicly owned organization that serves the general population.
D. a group of people united through contractual or corporate ownership.
E. a privately owned organization that serves its customers to earn a profit so that it can
survive.
Answer:
Mark Zuckerberg encountered unimaginable success with his launch of
“TheFacebook.com” website from his college dorm room. By the end of the second
week, it had almost __________ members.
A. 100
B. 300
C. 500
D. 1,000
E. 5,000
Answer:
Whether an individual is buying for personal or household use, or an organization is
buying for its own use or for resale, the individual or organization would be considered
A. a prospective customer.
B. a dual-purpose marketing decision maker.
C. a potential distributor.
D. an informed buyer.
E. an end-user.
Answer:
Today’s visionary organization uses three key elements to specify its foundation,
__________, and formulate strategies.
A. set a direction
B. establish detailed marketing tactics
C. assign job responsibilities
D. set financial goals
E. establish an organizational chart
Answer:
Food in the Maslow hierarchy of needs is an example of a __________ need.
A. self-actualization
B. personal
C. social
D. safety
E. physiological
Answer:
Why would Proactiv, an acne treatments company, select Maroon 5 frontman Adam
Levine to appear in an ad campaign? What kind of influence could he have on
consumer behavior?
Answer:
The Boston Consulting Group’s business portfolio analysis model can be used to
analyze a firm’s strategic business units. How is it used and what can it tell you?
Answer:
List the five environmental forces in a marketing decision that generally are outside the
control of marketing managers.
Answer:
How did President John F. Kennedy change the concept of American business culture
away from caveat emptor in the 1960s?
Answer:
Define green marketing and provide an example of it.
Answer:
Define marketing dashboard and marketing metric and explain how these terms are
related.
Answer:
What is the basic difference between primary and secondary data, and what are the
advantages and disadvantages of each?
Answer:
Identify and describe the four branding strategies that product and brand managers use.
Answer:
Explain what a market-product grid is and how it is used.
Answer:
Explain the difference between indirect exporting and direct exporting. What are the
advantages and disadvantages of each approach?
Answer:
Describe the marketing mix actions mentioned in the textbook that Chobani has taken
since its founding in 2005.
Answer:
Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the
Robinson-Patman Act, all of which were enacted to protect competition.
Answer:
List and define the three major types of vertical marketing systems.
Answer:
What is the difference between standard charitable contributions and cause marketing?
Answer:
Price elasticity of demand measures how sensitive consumer demand and the firm’s
revenues are to changes in the product’s price. Explain the difference between a product
with elastic demand and a product with inelastic demand.
Answer:
The sales plan is put into practice through the tasks associated with sales plan
implementation. Identify the three major tasks involved in implementing a sales plan.
Answer:
The VALS system seeks to explain why and how consumers make purchase decisions.
Consumers motivated by ideals are guided by knowledge and principle. Explain the
difference between Thinkers and Believers.
Answer:
There are six (6) general product and service categories that dominate online consumer
buying today and for the foreseeable future. List them and give an example of each.
Answer:
Explain the difference between consumer products and business products. Why are
some products difficult to categorize as one or the other? Give an example of a business
product, a consumer product, and a product that is difficult to categorize.
Answer:
What are the keys to effective need-satisfaction presentations?
Answer: