Each year, Honeywell asks every department manager to rate his or her department’s
strengths and weaknesses as well as those of the other departments with which the
department interacts. Then each department manager is asked what he or she sees as the
greatest threats and opportunities for the company. Honeywell is asking its department
managers to engage in a ________.
A) SWOT analysis
B) portfolio analysis
C) market analysis
D) functional planning session
E) compatibility assessment
________ are the most common price promotion.
A) Rebates
B) Merchandising allowances
C) Coupons
D) Contests and sweepstakes
E) Premiums
In a marketing plan, the ________ state what the marketing function must accomplish
to achieve overall business objectives.
A) situation analyses
B) strategic plans
C) marketing objectives
D) market development strategies
E) marketing controls
Which of the following statements about business-to-business channels is true?
A) Direct channels are more common in business-to-business markets than consumer
markets.
B) Business-to-business channels have few parallels with consumer channels.
C) The size of business markets makes indirect channels more efficient.
D) Indirect channels are more common in business-to-business markets than consumer
markets.
E) When an industrial distributor is included in a business-to-business channel, the
channel is by definition direct.
Most demand for business-to-business products is ________.
A) derived, inelastic, fluctuating, and joint
B) derived, elastic, fixed, and joint
C) derived, inelastic, static, and dependent on the macroenvironment
D) independent of all consumer market influences
E) competitive, derived, fluctuating, and elastic
Harley-Davidson’s user profile includes both thrill-seeking and affinity for a
countercultural image. In addition to demographics, Harley-Davidson uses ________
segmentation to target markets.
A) value analysis
B) social class
C) geodemographic
D) socioeconomic
E) psychographic
Companies that have a ________ orientation tend to be more successful at making
one-time sales than at building repeat business.
A) consumer
B) marketing
C) selling
D) societal
E) relationship
Which of the following refers to the hundreds of millions of global consumers who now
have a level of purchasing power that allows them to afford high-quality products
offered by multinational companies?
A) reference group
B) social class
C) mass-class
D) green market
E) microculture
________ strategies regard a city, state, country, or other locale as a brand.
A) Social marketing
B) Idea marketing
C) Place marketing
D) Service marketing
E) Green marketing
An advertisement for the Blue Ridge Parkway (a highway) that runs from the
Shenandoah Valley to the Smokey Mountains describes the highway as a “trip back in
time.” This is an example of ________.
A) idea marketing
B) place marketing
C) social marketing
D) services marketing
E) the market fulfillment approach
Dancers and singers hired by the California Board of Tourism staged a series of
seemingly impromptu performances of a medley of Beach Boys songs, including
“Surfing U.S.A.” and “California Girls,” in busy airport terminals around the country.
This is an example of ________.
A) lobbying
B) guerrilla marketing
C) sponsorship
D) media relations
E) internal PR
A survey questioned men and women to determine how each group felt about low-fat
foods advertising on television. The results from male and female respondents were
examined separately to see if their responses were different. The research results were
analyzed using ________.
A) ethnographic techniques
B) single-source data methods
C) cross-tabulation
D) standard correlation calculations
E) projective techniques
Learning is ________.
A) an internal state that drives us to satisfy needs
B) the process by which people select, organize, and interpret information from the
outside world
C) a change in behavior caused by information or experience
D) a lasting evaluation of a person, object, or issue
E) the set of unique psychological characteristics that consistently influence the way a
person responds to situations in the environment
Which of the following occurs when prices and the cost of living rise while money
loses its purchasing power?
A) prosperity
B) recovery
C) inflation
D) deflation
E) a depression
Product packaging can do all of the following EXCEPT which one?
A) protect the product
B) provide service
C) communicate brand personality
D) make the product easier to store
E) create a competitive advantage
WOM stands for ________.
A) with original marketing
B) weak owners’ market
C) word of mouth
D) word of marketing
E) without original marketing
________ is the element of the promotion mix that involves direct interaction between a
company representative and a customer.
A) Word-of-mouth communication
B) Public relations
C) Advertising
D) Personal selling
E) Sales promotion
Favorite Memories is a small company that specializes in serving women over the age
of 50 who are special occasion gift shoppers overlooked by major competitors. Which
of the following best describes Favorite Memories’ market targeting strategy?
A) undifferentiated targeting
B) custom marketing
C) differentiated targeting
D) concentrated targeting
E) mass customization
Every six months, Doug is asked to fill out a survey which asks when he expects to buy
a new vehicle and what type and model he plans to purchase. Doug, along with a group
of consumers with similar buying habits, has been participating in this survey for the
last eight years. The gathering of this quantitative data is an example of descriptive
research using ________.
A) a hierarchical format
B) a cross-sectional design
C) latitudinal tracking
D) a longitudinal design
E) ethnography
Which of the following is the LEAST relevant characteristic that a salesperson should
consider when qualifying a prospect?
A) financial ability
B) longevity in the market
C) credit history
D) volume of business
E) likely level of loyalty
Which of the following figures is needed to calculate inventory turnover?
A) annual cost of sales
B) number of levels in the distribution channel
C) slotting allowance fees
D) number of product returns
E) number of stockouts
A ________ is a distinctive group of customers within a larger market who are similar
to one another in some way and whose needs differ from other customers in the larger
market.
A) market segment
B) popular culture
C) mass market
D) market mix
E) market position
A purchase decision made with some but not extensive effort is classified as ________.
A) habitual decision making
B) extended problem solving
C) independent heuristic rating
D) dependent heuristic rating
E) limited problem solving
Which type of research generates nonnumeric results that provide detailed verbal or
visual information about consumers’ attitude?
A) data mining
B) qualitative research
C) quantitative research
D) causal research
E) descriptive research
Which of the following is a true statement about the steps in the market research
process?
A) The research design should be determined before the problem is defined.
B) The last step is to analyze and interpret the data.
C) The first step is selecting a method of data collection.
D) The first step is defining the research problem.
E) The data must be collected before the sample can be designed.
The Wright Bros. Collection is a catalog retailer that sells clothing and collectibles to
aviation enthusiasts. Its ________ might be men and women between the ages of 25
and 55 who are risk takers. They belong to organizations such as the American Legion,
the VFW, and the National Rifle Association of America. They are either pilots
themselves or have close ties to a pilot. They prefer camping to taking a luxury cruise.
Annually, they spend $900 on items purchased from nonstore retailers.
A) value analysis
B) customer potential assessment
C) segment profile
D) internal market audit
E) brand personality
When many men in the baby boomer segment started getting gray hair, they were
reluctant to use hair dyes made for women even though they were just as eager as
women to fight the aging process. To address this reluctance, hair care product
manufacturers introduced hair dying systems for men to use on their head and their
facial hair. The hair care product manufacturers used ________ segmentation to define
their target markets.
A) lifestyle
B) behavioral
C) socioeconomic
D) demographic
E) psychographic
Wrigley’s chewing gum is the same product whether you buy it in Japan, Great Britain,
Brazil, or the United States. Wrigley’s sells the same products around the world. It has
adopted a(n) ________ strategy.
A) product adaptation
B) localization
C) straight extension
D) product invention
E) ethnocentric
The trend of consumers renting out their belongings when they are not in use to other
consumers who need them for a limited time is called ________.
A) e-commerce
B) virtual exchange of goods
C) the attention economy
D) collaborative consumption
E) the instapreneur market
Which of the following is an example of a pricing strategy that focuses on customers’
needs?
A) price leadership
B) everyday low pricing
C) distribution-based pricing
D) cost-plus pricing
E) skimming
Mach 3 razor blades must be used in the Mach 3 razor. Which type of pricing is most
likely used for the razor blades?
A) penetration
B) value
C) captive
D) two-part
E) basing-point
A donut shop chain opened its first store outside of North America with the opening of
a shop in Australia. The donut company used a ________ strategy.
A) market development
B) product penetration
C) market penetration
D) cash cow
E) product development
________ refers to the sale of two or more goods or services as a single package for one
price.
A) Two-part pricing
B) Captive pricing
C) Price bundling
D) List pricing
E) Everyday low pricing
U.S. sugar import quotas have existed for more than fifty years and preserve about half
of the U.S. sugar market for domestic producers. These quotas are examples of
________.
A) embargoes
B) nationalization
C) protectionism
D) expropriation
E) disintermediation
XYZ Computers, Inc., a business with limited resources, uses a concentrated targeting
strategy. How might XYZ benefit from this?
Explain the concept behind a dual distribution system.
Why might a company complain of having too much data?
What is the difference between structured and unstructured data?
What is the difference between a click-through rate and a conversion rate? Explain why
marketers may want to use both metrics.
A major manufacturer of automobile tires sells its products at its dealership retail stores.
After a tire is sold, the customer can return to any manufacturers’ retail store and the tire
can be rotated on the car at no expense to the customer. Should a repair to the tire be
needed, the customer will receive a discount from the list price bill as a form of a
warranty received at the time of purchase of the tire. Identify and explain the selling
approach being implemented by this manufacturer.
Describe the practice of retail borrowing and explain why it is unethical.
Explain why correctly segmenting and then targeting consumers will help a company
target its marketing dollars more effectively.
What are some of the potential responsibilities of brand managers employed at P&G?
Why would almost all Americans be considered participants in the global marketplace?
Explain how a sporting goods retailer could use both direct and indirect paths to data
creation.
Explain the common problems that international market researchers encounter.
An appliance, television, and stereo dealer serves as an authorized repair center,
provides maintenance contracts, and sells essential supplies to customers. What types of
channel functions are being implemented by this dealer?
Discuss the security issues of B2B e-commerce and how companies address those
issues.
What are the steps in the business-to-business buying decision process? Discuss how
they are different from the steps in the consumer decision process.