As customer knowledge about a product increases:
A) the number of intermediaries in the distribution channels also increases.
B) the information needs of the customers increase because of their curiosity to learn
more.
C) the need for personalized services increase because customers feel that they need
specific features.
D) sales through outlets increase and they offer wide product lines and low prices
increase.
With reference to global marketing, identify the example that best explains the term
“cultural convergence.”
A) Teenagers in Tokyo, London, and San Francisco dress and talk similarly and buy the
same kinds of products.
B) Population growth rates have stabilized and the population over age 65 is increasing.
C) Aging populations, falling birth rates, and increased female employment are
common in industrialized countries.
D) The increasing numbers of women working outside the home has led to more
nontraditional meals and increased need for convenience.
Which of the following approaches to budgeting involves trying different levels of
spending-either in different regions or in more controlled settings-and monitoring the
results?
A) affordability
B) experimentation
C) decision calculus
D) competitive parity
Which of the following organizational structures will be suited for a company that sells
business to business products?
A) market-based structure
B) product-focused structure
C) classic brand structure
D) internationally focused structure
________ is a written document containing the guidelines for the product’s marketing
programs and allocations over the planning period.
A) Marketing plan
B) Brochure
C) Market outline
D) Procedures Manual
More effort by both external and internal parties is necessary for need recognition in a
________ situation.
A) modified rebuy
B) straight rebuy
C) new-task
D) repetition purchase
While searching information about the market, it is convenient to begin the search with
this source of information. Identify it.
A) internal sources
B) annual report
C) patent and trademark filings
D) government sources
Which of the following is often referred to as the “4Ps” of marketing?
A) product mix
B) mission statement
C) pricing mix
D) marketing mix
Which of the following statements is true regarding the percentage of sales approach to
budgeting?
A) It views advertisement as an investment measures its return by calculating
percentage increase in sales for a particular period.
B) It attempts to spend at levels proportional to the competition’s spending.
C) Approach is based on the belief that advertising causes sale.
D) It selects a percentage of sales, either past or expected to devote to advertising.
Which of the following statements is true regarding a private label brand?
A) It is sometimes called as an exclusive brand.
B) It is usually the low-priced option in the category.
C) Stores often make lower margins on private-label brands.
D) Retail stores devote huge marketing funds to support private labels.