________ are online journals where people post their thoughts, usually on a narrowly
defined topic.
A) Social networks
B) Blogs
C) Forums
D) Search engines
E) Web directories
Answer:
Cybertron Inc. was accused of deceptive pricing. Which of the following explains what
most likely occurred?
A) Cybertron refused to advertise sale prices in the local paper.
B) Cybertron sold only defective products at the advertised price.
C) Cybertron advertised a large price reduction from a phony high retail list price.
D) Cybertron misrepresented a product’s features in an ad.
E) Cybertron used misleading labeling.
Answer:
The major activity in strategic planning is ________, whereby management evaluates
the products and businesses that make up the company.
A) SWOT analysis
B) benchmarking
C) business portfolio analysis
D) breakeven analysis
E) prospecting
Answer:
________ is the only element in the marketing mix that produces revenue.
A) Price
B) Product
C) Place
D) Fixed costs
E) Variable costs
Answer:
Online ads that incorporate animation, video, sound, and interactivity are called
________.
A) search-related ads
B) parody ads
C) content-based ads
D) digital catalogs
E) rich media ads
Answer:
Relative advantage, compatibility, complexity, divisibility, and communicability are all
characteristics of ________.
A) alternative evaluations
B) the degree of buyer involvement
C) a product’s rate of adoption
D) unexpected situational factors
E) postpurchase behaviors
Answer:
A firm that uses the selling concept takes a(n) ________ approach.
A) outside-in
B) niche marketing
C) inside-out
D) societal marketing
E) customer-driven
Answer:
Calypso Motors recently rolled out its Proteus hatchback. Proteus combines the
attractiveness of a luxury car with the excellent agility of a sports car. Calypso Motors
is confident that Proteus will appeal to both sports car enthusiasts as well as the luxury
segment. Which of the following types of market segmentation is evident here?
A) gender segmentation
B) income segmentation
C) benefit segmentation
D) geographic segmentation
E) age and life-cycle segmentation
Answer:
Which of the following promotional tools is the most effective in building up buyers’
preferences, convictions, and actions?
A) mass-market advertising
B) sales promotion
C) segmented advertising
D) personal selling
E) public relations
Answer:
A country with a(n) ________ has rich markets for many different kinds of goods.
A) industrial economy
B) gift economy
C) barter economy
D) subsistence economy
E) natural economy
Answer:
Which of the following is true of the bottom of the pyramid?
A) It is a market segment that has been tapped into and depleted.
B) It consists of people who have easy access to luxury goods.
C) It comprises people who have easy access to the basic amenities of life.
D) It is considered a source of fresh growth opportunities.
E) It is a market segment that has insignificant purchasing power.
Answer:
Which of the following is a problem caused by a policy of the EU?
A) Barriers to the free flow of products, services, finances, and labor decreased.
B) Policies on trade with nonmember nations were developed.
C) Economic powers stepped in to prop up weaker economies.
D) Adopting a common currency decreased currency risk.
E) The EU represents one of the world’s largest single markets.
Answer:
Which of the following is true with regard to prospecting?
A) Salespersons meet and greet the buyer.
B) Salespersons learn as much as possible about the organization.
C) Salespersons identify qualified potential customers.
D) Salespersons tell the “value story” to the buyer, showing how the company’s offer
solves the customer’s problems.
E) Salespersons ask for the order, review points of agreement, and offer to write up the
order.
Answer:
________ is an organized movement of concerned citizens, businesses, and government
agencies to protect and improve people’s current and future living conditions.
A) Consumerism
B) Environmentalism
C) Protectionism
D) Socialism
E) Aestheticism
Answer:
A ________ consists of the activities an individual is expected to perform according to
the people around him/her.
A) motive
B) role
C) lifestyle
D) life cycle
E) perception
Answer:
Selecting which segments of a population to serve is called ________.
A) market segmentation
B) positioning
C) customization
D) target marketing
E) differentiation
Answer:
An invitation to go skiing over the weekend forced Donna to look at her current
wardrobe. She realized that she required a warmer coat. Which of the following stages
of the buyer decision process does Donna exemplify?
A) product evaluation
B) situational analysis
C) need recognition
D) problem screening
E) information search
Answer:
Audience quality, audience engagement, and editorial quality are most likely to be
considered when a media planner ________.
A) decides on media timing
B) selects an execution style
C) selects a media vehicle
D) evaluates return on investment
E) measures the communication effects of an advertisement
Answer:
Refer to the scenario below to answer the following question(s).
Ruben Delgado built his enterprise on the faithful patronage of four specialty shops and
a large contract from Elmore Distributors. But after two years, the maker of novelty
pens and pencils had to rethink his strategy when his contract with Elmore ended.
Ruben built a company reputation on the manufacturing and distribution of a variety of
wooden writing utensils with customized engravings. Specialty shops loved to display
the products in their fancy, lighted showcases, but such specialty shops alone were not
profitable. Ruben Delgado established a brand name, known merely as Delgado, and
decided to expand on it.
Ruben extended his writing utensil lines to include quills, felt-tip pens, and
multiple-cartridge pens that write in different colors. He even added a line of various
grades of personalized stationery and business cards. Perhaps Ruben’s biggest added
touch, however, was the addition of two salespeople who would work to explain the
diverse array of products offered by Delgado, as well as nurture existing accounts.
“We make an excellent product,” Ruben Delgado stated, “and we honor a good
guarantee on everything we sell. But let’s face itwe face hundreds of competitors! We
need Delgado representatives out there to help prospects understand what they should
demand in something as simple as a writing tool.” The Delgado brand was
fast-becoming synonymous with top-notch customer service. Part of the purchase
package brought personal visits from the Delgado representative, before the purchase
and long after.
The new felt-tip pens, multiple-cartridge pens, and quills offered by Ruben Delgado are
examples of ________.
A) product line filling
B) multibranding
C) megabranding
D) product line inconsistencies
E) co-branding
Answer:
Brands in a market with many competitors and high advertising clutter must ________.
A) have very high prices compared to competitors
B) be advertised only through print and social media
C) be advertised more heavily to be noticed in the marketplace
D) never be advertised using informative advertising
E) be advertised only during the mature stage of the product life cycle
Answer:
Proton Corp. is an automobile manufacturer known for producing efficient, durable, and
low-priced cars. Recently, the company launched a new range of luxury cars to broaden
its market appeal and to add prestige to its existing line of cars. This is an example of
________.
A) social marketing
B) product line filling
C) product line stretching
D) internal marketing
E) cannibalization
Answer:
During the ________ step of the selling process, the salesperson tells the value story to
the buyer, showing how the company’s product or service solves the customer’s
problems.
A) prospecting
B) preapproach
C) presentation
D) closing
E) follow-up
Answer:
A(n) ________ is designed to present brand content that engages consumers and creates
customer-brand community.
A) podcast
B) branded community Web site
C) search engine
D) digital catalog
E) online magazine
Answer:
The ________ limits the number of commercials aired during children’s programs.
A) Children’s Online Privacy Protection Act
B) Child Protection Act
C) Fair Packaging and Labeling Act
D) Children’s Television Act
E) Consumer Product Safety Act
Answer:
During which of the following stages of the business buying process is a buyer most
likely to conduct a value analysis by carefully studying components to determine if they
can be redesigned, standardized, or made less expensively?
A) proposal solicitation
B) general need description
C) order-routine specification
D) performance review
E) product specification
Answer:
Which of the following refers to a nonprobability sample in which the researcher uses
his or her evaluation techniques to select population members who are good prospects
for accurate information?
A) quota sample
B) judgment sample
C) convenience sample
D) stratified random sample
E) simple random sample
Answer:
________ management is the logistics concept that emphasizes teamworkboth inside
the company and among all the marketing channel organizationsto maximize the
performance of the entire distribution system.
A) Logistics inventory
B) Integrated logistics
C) Logistics information
D) Independent logistics
E) Group logistics
Answer:
________ provide the resources needed by a company to produce its goods and
services.
A) Retailers
B) Marketing services agencies
C) Resellers
D) Suppliers
E) Financial intermediaries
Answer:
________ involves dividing a market into smaller segments of buyers with distinct
needs, characteristics, or behaviors that might require separate marketing strategies or
mixes.
A) Mass customization
B) Market targeting
C) Market segmentation
D) Differentiation
E) Positioning
Answer:
A(n) ________ is a limit on the amount of goods that an importing country will accept
in certain product categories.
A) embargo
B) tariff
C) benchmark
D) quota
E) exchange control
Answer:
Who among the following does NOT participate in the purchase decision process of a
buying organization?
A) individuals who use the product or service
B) individuals who influence the buying decision
C) individuals who make the buying decision
D) individuals who supply raw materials
E) individuals who control the flow of information to others
Answer:
Market segmentation can be best described as the process of ________.
A) assigning specific human attributes to a given brand
B) dividing a market into distinct groups of buyers who have different needs,
characteristics, or behaviors, and who might require separate products or marketing
programs
C) evaluating each market segment’s attractiveness and selecting one or more segments
to enter
D) turning marketing plans into marketing actions to accomplish strategic marketing
objectives
E) maintaining a strategic fit between organizational goals and changing marketing
opportunities
Answer:
Critics charge that intermediaries ________.
A) are too few in number
B) are inefficient
C) provide only necessary services
D) underprice their services
E) are too competitive
Answer:
Trade-in allowances are most commonly used in the ________ industry.
A) real estate
B) automobile
C) dairy products
D) financial services
E) health care
Answer: