An advantage of using a panel of consumers for marketing research is
a. the discussion leader can help change negative panel responses into positive ones.
b. the company can find out if consumers change their purchasing behavior over time.
c. panel members often help each other by bringing up ideas for discussion that others
didn’t initially think of but that were important to them.
d. there will usually be one panel member who dominates the discussion and helps keep
the conversation focused.
e. panel members are highly defined demographically, so it is relatively simple to
replace an individual member without losing continuity.
Answer:
Changes in coffee consumption affect all of the following EXCEPT:
a. supermarkets.
b. government regulators.
c. coffee shops.
d. coffee growers.
e. coffee processors.
Answer:
Sales promotion refers to
a. a short-term inducement of value offered to arouse interest in buying a product or
service.
b. a single-themed IMC campaign employing multiple advertising and personal selling
strategies.
c. individualized communications programs that are specifically designed with a single
customer in mind because the item being sold is unique to that customer.
d. a long-term inducement of value offered to build and sustain loyal customer
relationships.
e. a sequence of value inducements aimed at retaining channel members.
Answer:
Licensing refers to
a. offering the right to a trademark, patent, trade secret, or similarly valued items of
intellectual property in return for a royalty or fee.
b. contracting with a foreign firm to manufacture products according to certain
specifications.
c. when a foreign country and a local firm invest together to create a local business.
d. having a company handle its own exports directly without intermediaries.
e. exporting through an intermediary, which often has the knowledge and means to
succeed in selling a firm’s product abroad.
Answer:
The social network primarily used for professional networking and job searching is
a. Twitter.
b. LinkedIn.
c. Facebook.
d. YouTube.
e. Farmville.
Answer:
Which of the following is a disadvantage of employing a multiple products, multiple
market segments strategy if NOT implemented well?
a. higher sales but lower profits
b. reduced quality and higher prices
c. meeting customer needs but at the expense of higher prices
d. lower prices but with higher production costs
e. higher quality but lower prices
Answer:
BzzAgent is a firm that specializes in a marketing strategy known as
a. sting.
b. teaser advertising.
c. swarm.
d. buzz.
e. viral marketing.
Answer:
When the National Cattlemen’s Beef Association developed the “Beef, It’s What’s for
Dinner” advertising campaign, it was trying to stimulate __________ demand.
a. selective
b. generic
c. derived
d. primary
e. secondary
Answer:
VALS groups of consumers motivated by __________ are those who are guided by
knowledge and principle.
a. ideals
b. achievement
c. self-expression
d. rewards
e. success
Answer:
Solarcom is a 30-year-old information technology company that owns several
subsidiaries. One of its subsidiaries is Atlantix Global Systems, which is one of the
leading wholesalers for refurbished computer equipment that has a large share of an
industry that is growing worldwide. According to the BCG business portfolio analysis
framework, Atlantix Global would most likely be classified as a __________.
a. dog
b. cash cow
c. question mark
d. hedgehog
e. star
Answer:
Brand equity refers to __________.
a. the resources invested to create a name, phrase, design, symbol, or combination of
these to identify a firm’s products and distinguish them from those of its competitors
b. the difference between the revenues generated and the costs incurred to the product
brand through the addition of features or higher-quality materials
c. increasing the content contained within the brand’s package without changing its size
or increasing its price
d. the net present value of the royalties the firm receives as a result of licensing its
brand to other firms to manufacture and/or market
e. the added value a brand name gives to a product beyond the functional benefits
provided
Answer:
Which stage in the consumer purchase decision process suggests criteria to use for the
purchase, yields brand names that might meet the criteria, and develops consumer value
perceptions?
a. problem recognition
b. information search
c. alternative evaluation
d. purchase decision
e. postpurchase evaluation
Answer:
Twitter is a website that offers a social networking service, enabling its users to send
and read other users’ messages or conversations called tweets, which are text-based
posts of up to 140 characters displayed on the user’s profile page. Connected to each
“tweet” is a rich details pane that provides additional information, deeper context, and
embedded media. Companies are just beginning to use Twitter as a tool in their
relationship marketing programs. In what ways could Twitter be used to benefit both the
customer and the organization?
Answer:
T.J. Maxx HomeGoods Photo
Consider the T.J. Maxx HomeGoods photo above. This retailer uses a(n) __________
pricing practice.
a. markdown
b. maintained markup
c. gross margin
d. manufactured suggested retail
e. off-price retail
Answer:
A company that uses an organizational structure including a marketing department,
finance department, human resource department, etc., is most likely using __________
groupings.
a. functional
b. reseller
c. task-based
d. product line
e. market-based
Answer:
Figure 1.
In Figure 1. above, “E” represents the
a. consumer purchase decision process.
b. organizational buying decision process.
c. marketing research process.
d. marketing program.
e. consumer socialization process.
Answer:
Figure 1.
According to Figure 1. above, column “A” would represent what type of product?
a. shopping
b. convenience
c. specialty
d. prestige
e. unsought
Answer:
When using an account management policy grid, an account would replace personal
calls with telemarketing or direct mail if the account opportunity level assessment is
__________.
a. high, and the sales organization has a strong competitive position
b. low, and the sales organization has a strong competitive position
c. high, and there is a likelihood that a strong competitive position can be achieved
d. low, and the sales organization has a low competitive position
e. high, and the sales organization has strong competitive position
Answer:
Decision making is the act of
a. consciously choosing from among alternatives.
b. consciously choosing an action that doesn”t involve risk.
c. a subjective selection from a subset of positive alternatives.
d. subconsciously selecting the alternative that is most consistent with one’s personal
beliefs.
e. objectively selecting the most financially sound decision among two or more
alternatives.
Answer:
An industry refers to
a. organizations that develop similar offerings.
b. organizations who manufacture identical products to meet ISO 9000 specifications.
c. companies that are active in the production of materials that are used in finished
products.
d. a group of people or firms united through strategic alliances.
e. the economic activity concerned with the selling of finished products to wholesalers
and retailers.
Answer:
How much time does 3M allow their inventors for the purpose of doing initially
unfunded research?
a. 5%
b. 10%
c. 15%
d. 25%
e. 35%
Answer:
A paint manufacturer will sell a retail paint outlet its paint only if the retailer also buys
the manufacturer’s line of brushes and accessories. This is an example of __________.
a. exclusive dealing
b. a requirement contract
c. an exclusive territorial distributorship
d. a selective promotion contract
e. a tying arrangement
Answer:
Figure 1.
According to Figure 1. above, if Newsweek raises its price from $2.00 per issue to $2.50
per issue, what happens to total revenue?
a. total revenue goes up
b. total revenue goes down
c. total revenue stays the same
d. total revenue is not related to the price
e. it is impossible to tell from the information given in the figure
Answer:
User generated content refers to
a. the content posted by only one user on his or her private blog.
b. Web 3.0, a new use of the Web.
c. the content created by one user on his or her smartphone.
d. another term for social media.
e. another term for “flash mobs.”
Answer:
Which of the following is an example of a product in the decline stage of the product
life cycle?
a. pocket video cameras
b. analog TVs
c. 3D HDTVs
d. soft drinks
e. tablet devices
Answer:
The practice of building ties to customers based on a salesperson’s attention and
commitment to customer needs over time is referred to as __________.
a. order processing
b. order taking
c. customer value creation
d. relationship selling
e. partnership selling
Answer:
Figure 1.
Consider Figure 1. above. “B” represents which of the following legislative acts?
a. The Robinson-Patman Act
b. The Clayton Act
c. The Sherman Act
d. The Federal Trade Commission Act
e. The Consumer Goods Pricing Act
Answer:
A publicity tool frequently used by nonprofit services, which uses free space or time
donated by the media is referred to as a(n)
a. promotion.
b. advertisement.
c. public service announcement.
d. press release.
e. cooperative advertisement.
Answer:
Melissa has just told her supervisor, “I”m so glad I bought the Samsung Galaxy S II
rather than those other smartphones I was considering. I can do my e-mail, access my
music, and even search the Internet with it. It’s like having a mini-computer in my
pocket.” Which stage of the consumer purchase decision process is demonstrated by
Melissa’s conversation?
a. problem recognition
b. information search
c. alternative evaluation
d. purchase decision
e. postpurchase behavior
Answer:
A test market for a new Kellogg’s cereal is an example of
a. hypothesis generation.
b. an experiment.
c. modular research.
d. virtual modeling.
e. probability sampling.
Answer: