________ is any paid form of nonpersonal presentation and promotion of ideas, goods,
or services by an identified sponsor.
A) Sales promotion
B) Personal selling
C) Advertising
D) Public relations
E) Direct marketing
Which packaging component identifies the product or brand?
A) unit price
B) material
C) label
D) trademark
E) copyright symbol
Which of the following is most likely a true statement about generational groups in the
United States?
A) The Millennials account for nearly half of all discretionary consumer spending in the
United States.
B) The Generation Xers are the most educated generation to date.
C) The baby boomers comprise the poorest segment of the population.
D) The Generation Xers form the largest segment of the population.
E) The Millennials are the most financially secure generation.
Setting a price for products that must be used along with a main product is known as
________ pricing.
A) by-product
B) market-penetration
C) product line
D) product bundle
E) captive-product
________ is defined as a business strategy where business buyers prefer to buy a
complete solution to a problem from a single seller rather than buying separate products
and services from several suppliers.
A) Modified rebuy
B) Straight rebuy
C) New task buying
D) Systems selling
E) Supplier development
A ________ is a small open-air mall with upscale stores, convenient locations, and
nonretail activities such as a playground, dining establishments, and a movie theater.
A) regional shopping center
B) lifestyle center
C) community shopping center
D) power center
E) warehouse club
Rent, electricity, and executive salaries that do not vary with production level are
referred to as ________ costs.
A) fixed
B) variable
C) break-even
D) target
E) promotional
Which of the following direct marketing forms includes infomercials?
A) direct-response television marketing
B) outbound telephone marketing
C) print-catalog marketing
D) direct-mail marketing
E) face-to-face marketing
Which statement is most likely true about idea generation in the new product
development process?
A) Idea generation is most effective when it occurs after idea screening.
B) Most companies set a limit for the number of ideas generated to simplify the
process.
C) Intrapreneurial programs enable customers to contribute to the idea generation
process.
D) Idea generation is usually followed by procedures that reduce the total number of
ideas.
E) A company can either develop ideas through internal or external sources but not
through both.
TruMart, a leading retail chain, decides to open a restaurant inside its stores, so the firm
partners with MeatMe, a popular burger chain. MeatMe opens a restaurant inside
TruMart. The MeatMe chain of restaurants also has a deal with Westman Cola to serve
only Westman soft drinks at its outlets. This arrangement will benefit all three
companies. What kind of channel arrangement is being followed in this case?
A) administered vertical marketing system
B) horizontal marketing system
C) direct marketing system
D) contractual vertical marketing system
E) corporate vertical marketing system
Marketers are said to suffer from marketing myopia when they ignore underlying
consumer needs and focus excessively on ________.
A) consumers’ brand experiences
B) competitors’ threats
C) consumers’ existing wants
D) competitors’ strengths
E) consumers’ future demands
Which of the following is most likely true of a global firm?
A) A global firm typically operates from one country.
B) A global firm engages in joint partnerships overseas.
C) A global firm sees the world as many different markets.
D) A global firm maximizes the importance of national boundaries.
E) A global firm manufactures and markets goods wherever it can do the best job.
Pizzaria, a renowned restaurant in Italy, enters into an agreement with Ruth’s Pizza
House in the United States to operate a chain of restaurants. Ruth’s will provide capital
for running the chain and Pizzaria will contribute its world-renowned expertise on
consumer tastes. In this case, Pizzaria enters a foreign market through ________.
A) contract manufacturing
B) management contracting
C) licensing
D) joint ownership
E) direct investment
A firm uses a small convenience sample to gather data on customer reactions. It invites
a small group of customers for lunch and asks them to share what they think about the
products they have purchased from the firm. This is an example of ________.
A) informal surveys
B) experimental research
C) neuromarketing
D) direct marketing
E) data mining
A product has hit the ________ stage when sales plunge to zero, or they drop to a low
level where they continue for many years.
A) decline
B) growth
C) maturity
D) ideation
E) analysis
Watson Insurance is an insurance company that provides coverage for personal property
and bodily injury. The company offers customized policy options for individual
customers. High levels of interaction with customers are needed so that the company
can provide the best customized service possible. What kind of promotional tool will
best help Watson Insurance to sell its policies to its target customers?
Hekkens-Dichi, a joint venture between two American and Japanese home products
firms, plans to expand its operations in Japan. Since secondary data in Japan is scarce, a
range of marketing surveys and interviews was required. Micky Lowe, the marketing
researcher of the U.S. branch, conducted extensive studies using the models he
developed for domestic research. However, the data generated was inadequate in both
quality and quantity. Discuss some potential causes for this failure.
What is customer relationship management (CRM)? What are the functions of CRM?
How do firms benefit from CRM systems?
Explain how companies that market their products internationally decide what prices to
charge in different countries.
What are the three categories of deceptive marketing practices? Briefly describe each.
What methods of setting advertising budgets are directly based on company revenues?
What are the disadvantages of such methods?
Internet marketing practices have raised a number of ethical and legal questions. Why is
invasion of privacy perhaps the number-one online marketing concern?
List the various types of sales promotions. What are the objectives of each type?
Explain the steps involved in the marketing research process.