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Figure 6-5
Figure 6-5 above outlines the distribution channels through which a product
manufactured in one country must travel to reach its destination in another country.
Which letter in the figure would identify intermediaries used to move the product from
one country to another?
A. A
B. B
C. C
D. D
E. E
Answer:
Which of the following is indicative of the purchase decision stage of the organizational
buying decision process?
A. The purchase decision is usually quick once the information search has been
completed.
B. Even after the bid is submitted and even accepted, further negotiation is likely.
C. Even if several vendors make it onto the bidder's list, ultimately only one supplier is
chosen.
D. If a supplier on the bidder's list is not selected, it is rarely told the reason why it was
rejected.
E. Once an agreement has been formally reached, neither the buyer nor the seller is
permitted to make changes to the terms of the contract.
Answer:
Licensing refers to
A. offering the right to a trademark, patent, trade secret, or similarly valued items of
intellectual property in return for a royalty or fee.
B. contracting with a foreign firm to manufacture products according to certain
specifications.
C. when a foreign country and a local firm invest together to create a local business.
D. having a company handle its own exports directly without intermediaries.
E. exporting through an intermediary, which often has the knowledge and means to
succeed in selling a firm's product abroad.
Answer:
The three approaches to setting advertising schedules are
A. flexible, seasonal, and continuous.
B. spontaneous, continuous, and intermittent.
C. continuous, flighting, and pulse.
D. daytime, primetime, and off-peak.
E. sporadic, intermittent, and infrequent.
Answer:
All of the following are true about the length of product life cycles EXCEPT:
A. the length of service life cycles is typically longer than those for products.
B. there is no set time that a product takes to move through its life cycle.
C. technological change shortens product life cycles as new products replace existing
ones.
D. the use of mass media tends to shorten product life cycles.
E. consumer products have shorter life cycles than business products.
Answer:
Aggregating prospective buyers into groups that have common needs and will respond
similarly to a marketing action is referred to as
A. consumer differentiation.
B. psychographics.
C. market segmentation.
D. market delineation.
E. aggregation marketing.
Answer:
Idea generation refers to
A. the stage of the new-product process when concepts are converted to prototypes.
B. the stage of the new-product process that develops a pool of concepts to serve as
candidates for new-products.
C. the stage of the new-product process where possible promotional campaigns and
advertising themes are created.
D. the techniques used to screen and reject those ideas that have no merit.
E. the discussion and decision of which as target market segments will be selected.
Answer:
Sales per Square Foot Marketing Dashboard
Which of the following stores shown in the Sales per Square Foot Marketing Dashboard
above has the HIGHEST sales per square foot?
A. Target
B. Neiman Marcus
C. Best Buy
D. Tiffany
E. Apple
Answer:
A recent American Express advertising claim that "membership has its privileges"
creates which type of reference group?
A. aspiration group
B. dissociative group
C. assimilation group
D. integrated group
E. associative group
Answer:
A firm needs to drive down logistics costs as long as it can deliver expected
__________.
A. balance sheet results
B. customer service
C. low levels of expenses
D. product-market synergies
E. target market goals
Answer:
Most Apple retail stores have a Genius Bar staffed with highly trained personnel that
can help customers with their purchases of iPads, iPhones, and other Apple products
and services. Which buying requirement is Apple satisfying with its Genius Bar?
A. context
B. information
C. variety
D. pre- and postsale services
E. adaptation
Answer:
Figure 16-4
According to Figure 16-4 above, the correct rank order of social network sites from
MOST to LEAST popular as measured by the number of visits as of mid-2014 is
A. Facebook, LinkedIn, YouTube, and Twitter.
B. Facebook, Twitter, YouTube, and LinkedIn.
C. Facebook, YouTube, LinkedIn, and Twitter.
D. Facebook, YouTube, Twitter, and LinkedIn.
E. Twitter, Facebook, YouTube, and LinkedIn.
Answer:
Advertising Age named its CEO Marketer of the Decade, Fortune rated it as the world's
most admired company and Bloomberg Businessweek perennially identifies it as the
most innovative company in the world. This firm is
A. IBM
B. Microsoft
C. 3M
D. Kodak
E. Apple
Answer:
A policy that specifies whom salespeople should contact, what kinds of selling and
customer service activities should be engaged in, and how these activities should be
carried out are referred to as
A. sales response management policies.
B. key account management policies.
C. account management policies.
D. customer management policies.
E. salesforce management policies.
Answer:
Walmart's $469 billion in sales in 2012 surpassed the gross domestic product of all but
__________ countries for that same year.
A. 5
B. 12
C. 18
D. 29
E. 55
Answer:
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,
__________, and the processes of encoding and decoding.
A. a concept
B. a receiver
C. an offer
D. a brand
E. a slogan
Answer:
A franchise where the franchisor provides step-by-step procedures for most aspects of
the business is known as a
A. business-format franchise.
B. product-distribution franchise.
C. business franchise venture.
D. manufacturing franchise.
E. general service franchise.
Answer:
Figure 6-3
According to Figure 6-3 above, point D would most likely represent what option for
entering the global marketplace?
A. exporting
B. joint venture
C. direct investment
D. franchising
E. licensing
Answer:
In the construction industry, an independent trading community such as Buzzsaw.com
or Cephren.com enables a general contractor to manage and coordinate the many
suppliers, subcontractors, architects, and engineers necessary to complete a project.
Buzzsaw.com and Cephren.com are examples of
A. Webfronts.
B. Web chains.
C. X-changes.
D. e-syndicates.
E. e-marketplaces.
Answer:
Making counterfeit copies of Gucci purses, Tommy Hilfiger sportswear, and other
international brands is pervasive in China because laws protecting intellectual property
are unclear and sporadically enforced. Even when sanctions are applied, they are
minimal, typically consisting of confiscation, a warning, a public apology, and perhaps
a fine. Moreover, copying enjoys a long tradition in China that does not carry a stigma.
A business introducing a product into China needs to know that its __________ may
lead to trademark infringements.
A. religious precepts
B. antecedent states
C. moral idealism
D. societal culture and norms
E. utilitarianism
Answer:
The first major federal legislation passed to forbid actual monopolies or attempts to
monopolize any part of trade or commerce in the United States was the
A. Lanham Act.
B. Federal Trade Commission Act.
C. Robinson-Patman Act.
D. Sherman Antitrust Act.
E. Clayton Act.
Answer:
In the Boston Consulting Group (BCG) model for analysis of a firm's strategic business
units, or SBUs, the horizontal axis reflects __________.
A. market growth rate
B. marketing efficiencies
C. industry attractiveness
D. market segment size
E. relative market share
Answer:
What promotional tool is often used with consumers that consists of merchandise
offered at a significant savings over its retail price and whose cost is covered because
the consumer is charged for it?
A. BOGO deal
B. self-liquidating premium
C. sample
D. rebate
E. coupon
Answer:
A __________ is a group of product or service items that are closely related because
they satisfy a class of needs, are used together, are sold to the same customer group, are
distributed through the same type of outlets, or fall within a given price range.
A. product item
B. product line
C. product mix
D. product class
E. product form
Answer:
All of the following are roles in a buying center EXCEPT:
A. specifiers.
B. deciders.
C. buyers.
D. influencers.
E. users.
Answer:
A wholly-owned extension of the producer that does not carry inventory, typically
performs only a sales function, and is an alternative to agents and brokers is referred to
as a __________.
A. brokering agent
B. cash and carry wholesaler
C. manufacturer's sales office
D. manufacturer's branch office
E. merchant wholesaler
Answer:
In a business marketing channel, an industrial distributor refers to
A. an intermediary that performs a variety of marketing channel functions involving
selling, stocking, delivering a full product assortment, and financing.
B. an intermediary that maintains its own salesforce and performs all channel functions.
C. an intermediary that deals exclusively with the selling, stocking, and delivery of raw
materials used by manufacturers in the production of its products.
D. an intermediary that deals with a single product line within a single industry.
E. an intermediary that performs functions involving selling, stocking, and delivery of
industrial goods but is unable to provide financing due to the normally large
expenditures.
Answer:
Larry's Lawn Care allows customers to use a credit card for purchases. Larry pays 4
percent of the sale to the credit card company. To promote more business, Larry decides
to offer a lower price to customers paying cash - that price being 3 percent less than the
standard list price. Larry is giving his customers a(n)
A. functional discount.
B. trade-in allowance.
C. promotional allowance.
D. cash discount.
E. everyday low price.
Answer:
Which of the following statements about the factors that influence demand is true?
A. As the availability of close substitutes increases, the demand for a product increases.
B. As real consumer income increases, the demand for a product increases.
C. As the price of close substitutes increases, the demand for a product declines.
D. Changing consumer tastes have little impact on the demand for a product.
E. As real consumer income decreases, the demand for a product increases.
Answer:
Which of the following statements regarding order getters is most accurate?
A. Order getters often replenish a retailer's inventories.
B. Order getters handle orders obtained on inbound telemarketing.
C. Order getters require considerable product knowledge.
D. Order getters typically process reorders for products already sold by the company.
E. Order getter sales calls traditionally require the lowest financial investment from the
firm.
Answer:
Figure 9-4
According to Figure 9-4 above, column B represents a(n)
A. continuous innovation.
B. discontinuous innovation.
C. disruptive innovation.
D. dynamically continuous innovation.
E. evolutionary innovation.
Answer:
VALS groups of consumers who are motivated by __________ are those who desire
social or physical activity, variety, and risk.
A. ideals
B. rewards
C. achievement
D. self-expression
E. success
Answer:
