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Although more price-conscious than other population segments, ________ consumers
tend to be strongly motivated by quality and selection, and give importance to brands.
A) lower upper
B) African American
C) Asian American
D) Filipino
E) working class
Which of the following statements best represents a contractual association between a
manufacturer, wholesaler, or service organization and independent businesspeople who
buy the right to own and operate one or more units in the system represented by the
contract?
A) corporate chain
B) franchise
C) voluntary chain
D) retailer cooperative
E) warehouse club
Beth Williams works for a marketing research company in Chicago. Her current
research involves finding the market potential for a client's new line of sports apparel.
Given her objective, which of the following types of research is the most suitable for
Beth?
A) causal research
B) constructive research
C) statistical research
D) descriptive research
E) exploratory research
Which of the following statements is true of the new product development process?
A) The purpose of the idea screening stage is to create a large number of ideas.
B) Under the business analysis stage, if the new product satisfies the company's
objectives, the product then moves to the product development stage.
C) A product concept is the way consumers perceive an actual or potential product.
D) The concept testing stage is the stage at which the product and its proposed
marketing program are introduced into realistic market settings.
E) Commercialization is the process of inviting broad communities of people such as
customers, employees, and scientists into the new product innovation process.
Juanita Petino, a nutritionist, decided to test the effects of two breakfast cereals, Kinglo
and Loopy, on different consumer groups. For the purpose of her study, she divided 20
volunteers into two groups and asked the members of one group to have Kinglo cereal
and the members of the other group to have Loopy cereal for breakfast. She decided to
compare the responses of the volunteers after a week to gain deeper insights into
consumer attitude. In this instance, Juanita is using ________.
A) niche marketing
B) experimental research
C) product differentiation
D) ethnographic research
E) viral marketing
Which of the following is a sociocultural factor that a company should consider before
deciding to enter into a new country?
A) political stability
B) population density (urban vs. rural)
C) education
D) income distribution
E) consumer lifestyles, beliefs, and values
Kinger Auto specializes in selling low-quality used vehicles that are priced a good deal
lower than other used cars. Which of the following value propositions is evident here?
A) more for the same
B) more for less
C) same for less
D) less for much less
E) more for more
Refer to the scenario below to answer the following question.
Essential-Beauty is a rapidly growing firm that manufactures women's makeup,
perfumes, and nail-care products. The company has established itself as a high-end
cosmetic product brand available at most national drug stores. In the past, almost all of
the advertising for Essential-Beauty has been in women's fashion magazines.
The firm is now launching a new line of skin care products, ranging from facial
cleansers to body lotion. These products are designed to be marketed to a broader
audience, so the marketing team is exploring the effectiveness of different promotional
mixes.
Essential-Beauty considers one of its most important competitors to be Look-Lovely,
another marketer of high-end makeup and skin care products sold in drug stores. Based
on this, it is most accurate to say that Look-Lovely and Essential-Beauty are both
________.
A) niche marketers
B) in the same strategic group
C) distant competitors
D) overall cost leaders
E) market followers
Which of the following is an environmental factor that influences business buyers?
A) organizational procedures
B) individual motives
C) organizational objectives
D) supply of key materials
E) group dynamics
Which of the following is true about online direct marketing?
A) Online direct marketing is also referred to as multi-level marketing.
B) Salespersons are compensated for other salespeople they recruit.
C) Online direct marketing allows sellers to create immediate, timely, and personal
offers.
D) Online direct marketing involves two or more intermediaries.
E) In online direct marketing, outside and inside sales forces coordinate to provide
value products to customers.
________ are human needs that are shaped by culture and individual personality.
A) Necessities
B) Wants
C) Demands
D) Values
E) Exchanges
Hannah Adams is a senior sales manager in Elmo Corp., a rapidly growing company
manufacturing personal computers and printers. In order to handle sales effectively,
Hannah insists on using the services of different groups of people from different
departments within the company such as the sales, marketing, technical support, and
finance departments. In this instance, Hannah makes use of ________.
A) team selling
B) competitive marketing intelligence
C) hybrid selling
D) occasion segmentation
E) sales force automation systems
Comparative advertising is also known as ________ advertising.
A) attack
B) institutional
C) covert
D) reminder
E) informative
Pat thought he had received the best deal on his new car. Shortly after the buying the
car, Pat started to notice certain disadvantages of his new car as he learned more about
other cars available in the market. Pat is experiencing ________.
A) dissonance-reducing buying behavior
B) need recognition
C) postpurchase dissonance
D) marketing myopia
E) complex buying behavior
Refer to the scenario below to answer the following question.
Alpha Stampings Inc. produces 14 metal stampings for the automotive industry. Due to
industry design changes and consumer demands, for the next financial year, six of those
stampings will require a slight change: two will have an extra hole punched through the
side, two will require an extra plating process, and two will require an additional weld
operation.
In the meantime, purchasing agent Richard Koehl has been asked to reduce the number
of Alpha's steel suppliers in an effort to cut costs. After obtaining updated price
quotations and steel samples from his current suppliers, Richard faced a dilemma. Until
now, he had selected his suppliers based on quality and price, but the major
consideration had been the type of steel required and the specialized production
processes of his respective suppliers. Not all of Alpha's suppliers could produce the
exact grades of steel needed; some suppliers were better at producing certain types of
steel than others.
Richard contacted several employees at Alpha who had worked with the various types
of steel in the past. The quality control manager and line inspector, for example, could
help to determine which suppliers had the capabilities of producing specific types of
steel. The production control manager could provide input regarding which types of
steel worked best in which presses. The warehouse foreman gave inputs regarding how
long various types of steel could be held in inventory before rust spots began to form on
their surfaces. Each person contributed the necessary information to help Richard in
making his decision.
In this instance, Richard plays the role of a(n) ________.
A) decider
B) gatekeeper
C) influencer
D) proposal solicitor
E) product designer
Which of the following is a competitive position or role that firms play in the target
market?
A) surrogate consumer
B) market analyst
C) market maven
D) market nicher
E) laggard
A ________ is a wholesaler-sponsored group of independent retailers that engages in
group buying and common merchandising.
A) voluntary chain
B) retailer cooperative
C) franchise
D) wholesale club
E) warehouse club
________ refers to measuring and evaluating the results of marketing strategies and
plans and taking corrective action to ensure that the objectives are achieved.
A) Marketing control
B) Marketing implementation
C) Satisficing
D) Prospecting
E) Benchmarking
Under the ________ concept, a company's marketing should support the best long-run
performance of the marketing system.
A) corporate social responsibility
B) direct marketing
C) sustainable marketing
D) free enterprise system
E) strategic planning
Which of the following terms refers to a specific mix of human traits that may be
attributed to a particular brand?
A) brand perception
B) brand identity
C) brand personality
D) brand concept
E) brand equity
An example of a company exhibiting a blue ocean strategy is ________.
A) Amazon's online shopping convenience
B) a Starbucks opening in the same vicinity of an independent coffee house
C) Nike's brand image of the 'swoosh"
D) Whirlpool's full line of medium-priced, energy-saving appliances
E) the first digital tablet iPad released by Apple
