All of the following are basic types of compensation plans for salespeople EXCEPT
________.
A) straight commission
B) straight salary
C) salary plus commission
D) salary plus company shares
E) salary plus bonus
Producers of strong brands sometimes sell to dealers only on the condition that dealers
take some or all of the rest of a product line. This practice is known as ________.
A) product line franchising
B) selective dealing
C) cross merchandising
D) full-line forcing
E) disintermediation
Which term refers to prices that buyers carry in their minds and check with when they
look at a given product?
A) product line prices
B) reference prices
C) location-based prices
D) product-form prices
E) time-based prices
Costco’s Kirkland Signature products are an example of a ________.
A) national brand
B) support brand
C) private brand
D) generic brand
E) manufacturer’s brand
Maria works for Sigma Inc., a firm that helps companies target and promote their
products to the right markets. Sigma is most likely a ________.
A) financial intermediary
B) physical distribution firm
C) marketing services agency
D) reseller
E) wholesaler
Companies need to know each competitor’s product quality, features, and mix; customer
services; pricing policy; distribution coverage; sales force strategy; and advertising and
sales promotion programs. These are all the dimensions that identify ________ groups
within the industry.
A) target
B) focus
C) control
D) strategic
E) experimental
The ________ requires sellers to provide detailed nutritional information on food
products.
A) Sherman Antitrust Act
B) Nutritional Labeling and Educational Act of 1990
C) Glass-Steagall Act
D) Commodity Futures Modernization Act of 2000
E) Federal Trade Commission Act of 1914
Which of the following statements about the Internet is most accurate?
A) Companies are relying less on the Internet to build relationships with customers and
marketing partners.
B) After the dot-com meltdown of 2000, fewer consumers are using the Internet to buy
products and services.
C) The Internet makes it easy for consumers to view, respond to, and create marketing
content.
D) Consumer e-commerce looks promising, but business-to-business e-commerce is
declining.
E) The digital shift means that marketers can always control conversations about their
brands.
Which of the following is true about the customer sales force structure?
A) Customer sales force structure is a combination of territorial sales force structure
and product sales force structure.
B) Each salesperson is assigned to an exclusive geographic area and sells the company’s
full line of products or services to all customers in that territory.
C) Salespersons specialize in only a particular product line as the company produces
numerous and complex products.
D) Companies using customer sales force structure tend to ignore the importance of
long-term relationship building with customers.
E) Separate sales forces are set up for different industries, serving current customers
versus finding new ones, and serving major accounts versus regular accounts.
Information collected from Internet search engines is an example of ________.
A) primary data
B) secondary data
C) binary data
D) low-level data
E) disposable data
Lifebelt Insurance sells insurance only through its door-to-door salespeople. What type
of marketing channel does Lifebelt use?
A) inclusive
B) multitiered
C) indirect
D) direct
E) selective
Which of the following is true with regard to the diversity segment of U.S. adults with
disabilities?
A) Most individuals with disabilities are active consumers.
B) The market represented by U.S. adults with disabilities is smaller than that
represented by African Americans or Hispanics.
C) The diversity segment, U.S. adults with disabilities, is a rather unattractive segment
for the tourism industry.
D) The annual spending power of U.S. adults with disabilities is less than $100 billion.
E) Most companies are reluctant to reach out to consumers with disabilities.
The process of evaluating each market segment’s attractiveness and selecting one or
more segments to enter is known as ________.
A) market segmentation
B) diversification
C) market targeting
D) prospecting
E) downsizing
P&G introduced Duncan Hines ready-to-spread frosting in a small geographic area.
When General Mills became aware of the product, it rushed to market its own Betty
Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product
introduction. This illustrates ________.
A) why many companies engage in crowdsourcing
B) one of the problems associated with test marketing
C) why prototypes are so important
D) how idea screening can make a product a commercial success
E) the importance of different sources for idea generation
Which of the following is a product decision that may be called into question under the
law?
A) stealing trade secrets
B) misrepresenting
C) patent protection
D) unfair discrimination
E) excessive cost
Green Bees, a popular American heavy-metal band, will perform in Berlin during
Christmas. There is a high demand for concert tickets among fans worldwide who are
looking forward to the much-awaited performance. In this instance, the high demand
for tickets for the Green Bees concert is representative of ________.
A) primary demand
B) negative demand
C) derived demand
D) cross elasticity of demand
E) latent demand
________ were the main form of retail clusters until the 1950s.
A) Strip malls
B) Discount stores
C) Independent off-price retailers
D) Central business districts
E) Regional shopping malls
What sets the floor for product prices?
A) consumer perceptions of the product’s value
B) product costs
C) competitors’ strategies
D) advertising budgets
E) market competition
Which of the following involves the direct exchange of goods and services?
A) cash transaction
B) compensation
C) buyback
D) blocked currency
E) barter