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Marketing intermediaries supply resources needed by a company to produce its goods
and services.
Answer:
The marketing concept is a customer-centered, sense-and-respond philosophy.
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Individual interviews cost three to four times as much as telephone interviews.
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Public relations can have a strong impact on public awareness at a much lower cost than
advertising can.
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The two economic factors that reflect a country's attractiveness as a market are its
industrial structure and import/export ratio.
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During concept testing, a product is evaluated by management without any input from
external sources.
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Direct marketing has undergone a dramatic transformation due to rapid advances in
digital technologies.
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Tariffs and duties are often used to force favorable trade behaviors from other nations.
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Corporate marketing ethics policies should most likely address distributor relations,
advertising standards, customer service, pricing product development, and general
ethical standards.
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Management contracting is an unwise choice if a domestic firm can make greater
profits by undertaking a whole venture.
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When managers glean information from their company's accounting and sales records
stored in the company computer system, they are using an internal database.
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A multichannel marketing system is one in which a producer sells to multiple markets
using the same distributional channel.
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Satisfying consumers' immediate needs and desires does not always serve the future
best interests of either customers or the business.
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Retailing practices among countries can vary widely.
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The National Do Not Call Registry is managed by the Federal Trade Commission.
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Most of the retailing in the United States is done by small, independent retailers.
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Life insurance is an example of a convenience product.
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The Consumer Product Safety Commission has created complex regulations for testing
new drugs before they are sold to the public.
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Orienting and motivating customer-contact employees to work as a team to provide
customer satisfaction is known as social marketing.
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Deceptive packaging includes exaggerating package contents through subtle design and
misleading labels.
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Pricing decisions of specialty stores are typically based on low markups on a high
volume of products.
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Although do-not-call legislation has hurt parts of the consumer telemarketing industry,
inbound and outbound consumer telemarketing remain strong and growing.
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Selective distortion describes the tendency of people to interpret information in a way
that will support what they already believe.
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When developing a new product, concept testing should ideally be followed by the
business analysis stage.
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Although manufacturers, wholesalers, and retailers do retailing, it is the primary
business of retailers.
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Under oligopolistic competition, the market consists of only a few large sellers.
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When a company views and organizes its marketing activities from only the consumer's
point of view, it is practicing societal marketing.
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Management contracting consists of one company joining forces with foreign investors
to create a local business in which they share possession and control.
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Product stewardship is a "beyond greening" activity.
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When a company expands by developing its own products rather than acquiring a
competitor, the company is likely to be accused of reducing competition.
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Mobile marketing is an unsuitable tool for triggering an immediate purchase from a
consumer.
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It's advisable for a company to fit its products into existing attitude patterns rather than
attempt to change them.
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An advantage of direct mail marketing over digital forms is that it provides something
tangible for people to hold and keep and it can be used to send samples.
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A laptop that is purchased for a graphic design studio is considered an industrial
product.
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Often, companies form joint ownership ventures to merge their complementary
strengths in developing a global marketing opportunity.
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A more-for-more market offering not only offers higher quality but also gives prestige
to a buyer.
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Advertising agencies that help a company target a certain section of customers are
marketing intermediaries.
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What is the primary goal of trade promotions?
A) boosting long-term relationships with final buyers
B) motivating salespeople to attend trade shows
C) generating qualified business leads and contacts
D) rewarding customers for frequent purchases
E) persuading resellers to carry a brand
Answer:
Under a ________ new product development approach, company departments work
closely together in cross-functional groups, overlapping the steps in the product
development process to save time and increase effectiveness.
A) cross-sectional
B) simultaneous
C) sequential
D) team-based
E) systematic
Answer:
Which of the following promotion mix approaches involves a producer promoting a
product to different channel members who in turn promote the product to customers?
A) direct marketing
B) a push strategy
C) the publish-subscribe method
D) a pull strategy
E) vertical integration
Answer:
A freestanding insert in the Sunday newspaper for a local restaurant that contains a $5
off coupon for any meal over $20 is an example of a promotion targeted at ________.
A) government buyers
B) salespeople
C) business customers
D) final buyers
E) retailers and wholesalers
Answer:
An emerging economy is one which ________.
A) imports large amounts of finished textiles and automobiles
B) offers few market opportunities for imported goods
C) consumes all or most of its output
D) needs few imports of raw textile materials and steel
E) has a rapid growth in manufacturing
Answer:
There are more than 50 blueberry farmers in Shammonton, New Jersey, that grow,
package, and distribute the same quality blueberries. An individual farmer cannot
charge more than the going market price per unit without the risk of losing business to
the other farmers. This is an example of ________.
A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) a pure monopoly
E) a black market
Answer:
Java Jane's first coffeehouse was very successful due to the unique flavors, on-site
baked goods, and inviting ambiance. The owner, Jane Phillips, decided to franchise her
operation when she was approached by several interested investors. Which type of
marketing system has Java Jane's most likely adopted?
A) an administered marketing system
B) a contractual marketing system
C) a horizontal marketing channel
D) a direct marketing channel
E) a vertical marketing channel
Answer:
According to Maslow's hierarchy of needs, which of the following is most likely an
esteem need?
A) love
B) security
C) hunger
D) self-development
E) status
Answer:
To which of the following generational groups do zoomers belong?
A) Millennial
B) Generation X
C) Generation Z
D) Lost Generation
E) baby boomer
Answer:
Which of the following channel functions of wholesalers is demonstrated when a buyer
receives quicker delivery because wholesalers are located closer than are producers?
A) buying and assortment building
B) financing
C) transportation
D) risk bearing
E) warehousing
Answer:
Which of the following companies is using a divesting strategy?
A) Juggernaut Bikes acquires new businesses in order to increase its market share.
B) To achieve a higher market share, LBD Inc. increases investments in advertising and
promotion.
C) When sales of its clothing division decline, Blackstone sells the division to a
competitor.
D) Getix Computers increases the price of its products in order to maximize short-term
profits.
E) Harlow's market share remains steady over two years, and the firm decides to
maintain its share at the current level.
Answer:
________ products are less frequently purchased consumer products and services that
customers compare carefully on suitability, quality, price, and style.
A) Convenience
B) Capital
C) Unsought
D) Shopping
E) Secondary
Answer:
Which of the following is a traditional right of sellers?
A) the right to introduce any product in any size and style, provided it is not hazardous
to personal health or safety
B) the right to expect a product to be safe
C) the right to expect a product to perform as claimed
D) the right to consume now in a way that will preserve and sustain the world for future
generations of consumers
E) the right to be well informed about important aspects of a product
Answer:
________ includes practices such as misrepresenting the product's features or
performance or luring customers to the store for a bargain that is out of stock.
A) Deceptive packaging
B) Deceptive promotion
C) Deceptive pricing
D) Deceptive distribution
E) Deceptive branding
Answer:
Which of the following is most likely a characteristic of Generation Xers?
A) They were the first group to grow up in the Internet era.
B) They comprise a considerably larger population than the baby boomers.
C) They prefer quantity over quality of products.
D) They are the least educated generation to date.
E) They are generally unreceptive to ad pitches that make fun of tradition.
Answer:
Insurance, real estate, and used cars salespeople are trained to deliver smooth, canned
talks to entice purchases. This is known as ________.
A) sustainable marketing
B) high-pressure selling
C) customer-driven marketing
D) redlining
E) reverse redlining
Answer:
Which of the following is a commercial source of product information?
A) acquaintances
B) family and friends
C) dealer Web sites
D) consumer rating organizations
E) Internet searches
Answer:
Managing the marketing function begins with a complete analysis of the company's
situation. A thorough ________ is typically undertaken to guide decision making.
A) situation analysis
B) internal assessment
C) industry overview
D) SWOT analysis
E) portfolio analysis
Answer:
Carla, a team leader in charge of customer relationship management, is planning
strategies to improve the profitability of her firm's least profitable but loyal customers.
She is also examining methods for "firing" customers in this group who cannot be made
profitable. To which of the following customer relationship groups do these customers
belong?
A) butterflies
B) true friends
C) strangers
D) barnacles
E) innovators
Answer:
Which of the following is a characteristic of an inside sales force?
A) It travels to make sales calls on customers in the field.
B) It receives administrative backup from outside sales forces.
C) It cannot sell or service accounts directly.
D) It eliminates the need to have an outside sales force.
E) It conducts business from an office via telephone.
Answer:
Many organizations no longer have a clearly defined home market. Nor do they have
home-office staffs. Instead, multicultural managers operate out of facilities located all
around the world, bringing diverse cultural perspectives to their brands and operations.
They are truly ________.
A) world product groups
B) geographical organizations
C) international subsidiaries
D) global organizations
E) export departments
Answer:
Evans and Hills, a beverages manufacturing company, has developed a new line of
specialty teas and is seeking regular input from the test marketing process. To facilitate
this process, the firm uses BuyerScan, a software that generates store-by-store,
week-by-week reports on the actual sales of tested products and the impact of in-store
and in-home marketing efforts. Which of the following approaches does this scenario
illustrate?
A) standard test markets
B) inventory tracking
C) controlled test markets
D) simulated test markets
E) direct commercialization
Answer:
Which group is most likely offered functional discounts by manufacturers?
A) trade-channel members that perform sales tasks
B) consumers who buy products in large quantities
C) buyers who pay their bills before the due date
D) buyers who purchase merchandise out of season
E) retailers that participate in advertising programs
Answer:
Gulf Coast, a wholesale shrimp distributor, groups its customers by regions in the
United States, such as Midwest, Northeast, and Southwest. For each region, Gulf Coast
tailors a different set of advertisements and promotions. The supplier is segmenting its
market according to ________.
A) behavioral factors
B) personality characteristics
C) geographic location
D) benefits sought
E) demographics
Answer:
Jeff Barkins is a conscientious marketing manager. Sometimes, Jeff and his staff are
unclear what decisions to make when faced with moral dilemmas. Jeff and other
managers could create broad guidelines that everyone in the organization must follow in
the form of a ________.
A) business value statement
B) company mission statement
C) company vision statement
D) corporate marketing ethics policy
E) financial statement
Answer:
________ data consist of information collected for the specific purpose at hand.
A) Primary
B) Secondary
C) Derived
D) Archival
E) Historical
Answer:
GenX, a manufacturer of sport motorcycles, is seeking a new supplier of motorcycle
headlamps and brake lights. After searching trade directories, GenX invites five
different suppliers to make formal presentations about how their solutions can create
greater value for GenX than competing solutions. GenX is currently in the ________
stage of the business buying decision process.
A) problem recognition
B) general need description
C) product specification
D) supplier search
E) proposal solicitation
Answer:
Technology is a way of life for ________, the largest generational group.
A) Generation Z
B) Generation X
C) baby boomers
D) Millennials
E) the Lost Generation
Answer:
________ advertising would most likely result in attack ads between competitors.
A) Reminder
B) Comparative
C) Personal
D) Informative
E) Classified
Answer:
Walmart's decision to suspend its planned expansion into India's huge but fragmented
retail market due to obstacles put in place by the host nation to protect its mom-and-pop
retailers is an example of ________.
A) tariffs
B) excise duties
C) quotas
D) nontariff trade barriers
E) exchange controls
Answer:
Which of the following is true of the Uruguay Round of the WTO?
A) It promoted short-term global trade growth.
B) It increased the world's merchandise tariffs by 50 percent.
C) It reduced the influence of the WTO in agriculture.
D) It toughened the international protection of intellectual property.
E) It consisted of discussions that lasted for two years.
Answer:
Companies have responded to consumers' back-to-basics sensibility in their lifestyle
and spending patterns through ________.
A) frugal marketing
B) value marketing
C) quality marketing
D) diverse marketing
E) prestige-oriented marketing
Answer:
________ are the most affluent and brand conscious demographic segment in the
United States.
A) Hispanic Americans
B) Native Americans
C) Pacific Islanders
D) Asian Americans
E) African Americans
Answer:
Discuss how the political environment affects the marketing environment.
Answer:
Nellie Wills, an emergency medicine professional, is getting married in six months.
Since her job is very demanding, Nellie lacks the time to go shopping for all the
products and services she requires for the wedding. However, Nellie is a careful
shopper and likes to evaluate many alternatives before finalizing a purchase. Explain at
least one direct marketing method that may meet the specific needs of Nellie.
Answer:
Compare a conventional distribution channel and a vertical marketing system.
Answer:
Marketers can obtain needed information from internal data, marketing intelligence,
and marketing research. Describe some common sources of each.
Answer:
What methods of setting advertising budgets are directly based on company revenues?
What are the disadvantages of such methods?
Answer:
How does public relations help in creating an integrated marketing communications
system?
Answer:
Crunch and Munch is the country's favorite fast-food vendor of fried chicken. Over the
years, the company has diversified into providing a larger variety of snacks like hot
dogs, burritos, and burgers, but consumers still consider it the best seller of fried
chicken. Many potential investors have approached Crunch and Munch with offers to
buy the company, but Crunch and Munch continues to operate through its stores. What
is franchising? Why would franchising be a good contractual system for Crunch and
Munch?
Answer:
Explain what happens during the concept testing stage of new product development.
Answer:
What role does packaging play in the marketing of a product? How can packaging lead
to an increase or decrease of sales? Provide examples to illustrate your response.
Answer:
Explain the difference between coupons and rebates using suitable examples.
Answer:
What is a promotion mix? Define the major tools used in a promotion mix.
Answer:
Differentiate between standardized global marketing and adapted global marketing.
Describe the advantages and disadvantages of each strategy.
Answer:
John works as a junior marketing executive at Frontloop Corporation. Frontloop
Corporation manufactures guitars and other stringed instruments. It designs a new
guitar, the Loneway, customized for the folk music genre. The company plans to attract
both folk artists and folk music lovers with its advertising campaigns and decides to
exclusively use mass-media marketing techniques to advertise the Loneway guitar.
What arguments can John use if he wants to convince Frontloop to adopt digital media
instead of television advertising?
Answer:
Explain the concept of price elasticity.
Answer:
What are the traditional rights of sellers and buyers?
Answer:
Describe the legal aspects of exclusive arrangements such as exclusive dealing and
exclusive distribution.
Answer:
Should a company use the BCG matrix to classify its products or brands? Give reasons
for your answer.
Answer:
Identify a few situations in which price cuts or price increases might be necessary.
Answer:
Describe the promotion tools used by retailers.
Answer:
