MK 571

Document Type
Test Prep
Book Title
A Preface to Marketing Management 14th Edition
J. Paul Peter, James Donnelly
Which of the following statements is true about organizing the multinational company?
A. Globalization, as a competitive strategy, is inherently less vulnerable to risk than a
multidomestic or domestic strategy.
B. In determining whether or not to globalize a particular business, managers should
look first at their competitors instead of their own industry.
C. Market, economic, environmental, and competitive factors do not influence the
potential gains to be realized by following a global strategy.
D. Whether a company should undertake a multidomestic or global approach to
organizing its international operations will largely depend on the nature of the company
and its products.
Which of the following is a defensive goal multinational firms seek to achieve when
investing in other countries?
A. To gain access to technological innovations developed in other countries
B. To maximize total sales revenue
C. To increase long-term growth and profit prospects
D. To improve overall market position
The national government of Turnbury regulates the amount of earned and invested
funds that can be withdrawn from it. It only permits government bodies to engage in
currency dealings. It also places limits on the percentage of investments that can be
made by foreign companies. These rules and regulations are attributed to which of the
A. Import restrictions
B. Exchange controls and ownership restrictions
C. Political uncertainty
D. Cultural misunderstandings
Rubrix, a leading animation and gaming company, launches its video game console at
an introductory price of $189.00, which is relatively low for products of this category.
The reasoning behind this low pricing is that Rubrix expected fierce competition to
move in rapidly. Also, the demand for video game consoles varied according to the
price sensitivity of prospective customers. Identify the pricing policy used here.
A. Penetration policy
B. Markdown policy
C. Skimming policy
D. Going-rate policy
The board of directors of Synergie Incorporation discussed a few goals for the new
fiscal year. The chief goals included maximizing total sales revenue and improving the
overall market position of the firm. These goals were _____ in nature.
A. defensive
B. guerilla
C. offensive
D. niche
_____ involve aiming promotional efforts directly at customers to encourage them to
ask the retailer for the product.
A. Profile marketing strategies
B. Pull marketing strategies
C. Parallel marketing strategies
D. Cloud marketing strategies
Which of the following is a store-based method of retailing?
A. Television home shopping
B. Vending machines
C. Electronic exchanges
D. Category killers
In the context of strategic planning, the _____ must be specific, measurable, action
commitments by which the mission of the organization is to be achieved.
A. organizational portfolio plan
B. organizational strategies
C. organizational objectives
D. organizational mission
Which of the following is a common pricing objective?
A. Pricing to maximize short-term profits
B. Pricing to reduce inventory costs
C. Pricing to achieve a target market share
D. Pricing to increase the prestige of a product
The marketing concept and the accompanying approach to personal selling view the
_____ as merely the first step in a long-term relationship-building process, not as the
end goal.
A. customer objections
B. final purchase decision
C. initial sale
D. prospecting decision
Which of the following types of research methods typically involves discussions among
a small number of customers led by an interviewer and is designed to generate insights
and ideas about products and brands?
A. Observational research
B. Long interviews
C. Projective techniques
D. Focus groups
Which of the following is the primary reason for studying consumer and organizational
buyer behavior?
A. To understand employees' relationships with their organization
B. To determine the effectiveness of an organization's marketing department
C. To provide bases for effective market segmentation
D. To determine an organization's distinctive competencies
Which of the following is most likely to be a reason for a firm to price a product above
A. The firm is selling a homogenous product.
B. The demand for the firm's product is price elastic.
C. The firm is a price leader in the industry.
D. The firm's product is inferior in comparison to its counterparts.
_____ is an activity or material that offers customers or resellers a direct inducement for
purchasing a product.
A. Sales promotion
B. Advertising
C. Public relations
D. Personal selling
_____ is an organizational buying trend where all of a particular type of product is
purchased from a single supplier.
A. Multi branding
B. Franchise extension
C. Dual branding
D. Sole sourcing
Which of the following is true of the research approach to determining the advertising
A. It attempts to determine retail price by using production costs as a base.
B. It is a less rational approach to the expenditure decision when compared to other
C. It is generally more expensive when compared to other models.
D. It is less desirable as it limits advertising outlays to the amount of available funds.
Alcove Studio is a designer boutique that sells the most recent collections from top
designers. Since it sells exclusive clothing, customers from all over the world are
willing to pay exorbitant prices, and place orders months in advance. Alcove Studio's
goods are examples of _____.
A. specialty goods
B. organizational goods
C. impulse goods
D. convenience goods
In 1997, Apex Medicals Inc. sold its chemical products division because the division
was showing slow growth in a market that was rapidly expanding. Apex Medicals most
likely used a _____ objective with its chemical products division.
A. hold share
B. build share
C. divest
D. harvest
Apex Medicals most likely used a divest objective with its chemical products division.
The divest objective involves selling or divesting the strategic business unit (SBU)
because better investment opportunities exist elsewhere. It is very appropriate for dogs
and those question marks the firm cannot afford to finance for growth.
During sales forecasting, the sales force of a company uses past data and analyzes it to
study the impact of factors that influence sales trends. It identifies cyclical fluctuations
and assesses long-term growth trends with the help of available data. Which of the
following methods of sales forecasting is it using?
A. sales force composite analysis
B. customer expectations analysis
C. time-series analysis
D. jury of executive opinion method

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