MK 809

Type

Quiz

Book Title

A Preface to Marketing Management 14th Edition

ISBN 13

978-0077861063

October 29, 2015

In the context of new product development, the inability of a firm to satisfy customer

needs can be attributed to:

A. upfront intelligence efforts that prevent further development.

B. failure on the part of the firm to stick close to its core competencies.

C. excessive competition from inappropriate quarters.

D. decline in the sales of old products compared to the sales of new products.

Answer:

_____ vertical marketing systems typically involve single ownership of two or more

levels of a channel.

A. Administered

B. Contractual

C. Structured

D. Corporate

Answer:

M's Pizzas decides to explore the service industry and therefore signs a partnership with

the Silverline Chain of Hotels to have its brand of specialty pizzas offered on the hotel's

room-service menu. In this scenario, which of the following growth strategies is M's

Pizzas using?

A. Market development

B. Product development

C. Market saturation

D. Diversification

Answer:

_____ compete with other retailers on the basis of offering a good selection in a number

of different categories.

A. Warehouse clubs

B. Convenience stores

C. Department stores

D. Supercenters

Answer:

With regard to the internal factors that can either facilitate or impede a company's

efforts to undertake a global approach to marketing strategies, _____ is the factor that

refers to the ability of a company to project a global versus national identity, a

worldwide versus domestic commitment to employees, and a willingness to tolerate

interdependence among business units.

A. structure

B. management process

C. culture

D. political system

Answer:

_____ refers to a system of replenishing parts or goods for resale immediately before

they are needed.

A. Just-in-time inventory

B. Vendor managed inventory

C. Sole sourcing

D. Inventory credit

Answer:

Which of the following growth strategies for entering foreign markets involves

companies granting patent rights, trademark rights, and the right to use a technological

process to foreign partners?

A. Exporting

B. Licensing

C. Direct entry

D. Importing

Answer:

A vendor analysis could be used to:

A. create buying centers within an organization.

B. compare competing vendors.

C. identify an organizational need.

Answer:

Which of the following is true of slotting allowances?

A. They are discounts offered for purchasing a large number of units.

B. They are often in the form of price reductions for performing promotional activities.

C. They tend to add marketing cost to a manufacturer and affect profits.

D. They are payments made by retailers to manufacturers to allow them to stock the

manufacturer's products.

Answer:

The marketing department of Dimension Inc. notices a decline in the buying patterns of

its customers. The company's sales for the month of November were low in comparison

to its sales for the previous months. To address this issue and add value to its products,

Dimension decides to offer coupons for its products and schedule a sweepstake for

Christmas. Which of the following elements of the promotional mix is Dimension using

in this scenario?

A. Personal selling

B. Direct marketing

C. Sales promotion

D. Public relations

Answer:

Isabel wants to open an art gallery in a neighborhood known for its large Hispanic

population. However, she is apprehensive about whether or not the people in the

neighborhood will be responsive to the unconventional art she sells. To make a

decision, she obtains data from the National Statistics Institute which shows the career

interests of the people of the neighborhood, most of them being in creative,

unconventional fields. Which of the following types of data is she using to aid her in

decision making?

A. Primary data

B. Secondary data

C. Combination of primary and secondary data

D. Raw data

Answer:

In the organizational buying process, once a company has identified the products and

services that it requires, the next stage is _____.

A. organizational need

B. purchase activities

C. postpurchase analysis

D. vendor analysis

Answer:

The top management of Kryptos Inc., a supplier of office stationery to large IT

corporations, is involved in a meeting with its sales personnel. To forecast the

company's future sales, its sales department takes into account the views of the top

management representing marketing, production, finance, purchasing, and

administration. Kryptos Inc. is using _____ for sales forecasting.

A. correlation analysis

B. the customer expectations method

C. time-series analysis

D. the jury of executive opinion method

Answer:

Which of the following is true of the cost per thousand (CPM) measure of efficiency in

the advertising industry?

A. It refers to the dollar cost of reaching thousand prospects.

B. Its chief disadvantage relates to its complexity.

C. It does not allow for a common base of comparison between differing media types.

D. It strongly discounts the positive effects theory.

Answer:

Members of a business development team are involved in the ongoing process of

creating a new installation hardware device, owing to widespread consumer demand.

They are worried that by the time the finished product hits the market, customers' needs

might change. Consequently, the new device, unable to satisfy customers' current needs,

would become a failure. Which of the following risks does this best exemplify?

A. Strategic risk

B. Market risk

C. Credit risk

D. Internal risk

Answer:

Sales personnel failing to disclose product limitations or safety concerns is an ethical

and legal concern associated with _____.

A. advertising

B. public relations

C. personal selling

D. sales promotion

Answer:

Kevin regularly buys bread from the neighborhood grocery store. He is not brand

conscious and generally buys whichever brand the store has in stock. Kevin most likely

views the routine purchase of bread as a(n) _____.

A. low-involvement purchase

B. new product purchase

C. extensive decision-making process

D. limited decision-making process

Kevin considers buying a routine product like bread as a low-involvement purchase as

it has limited personal relevance.

Answer:

Best City Corp. opened cell phone stores at nine locations in Manhattan to gauge

consumer's reactions to them. These stores, called Best City Mobile, carried more than

80 cell phone brands from big manufacturers. Shoppers had the option to choose from

seven cell phone carriers. Based on positive consumer reaction and the success of these

stores, Best City Corp. opened stores nationwide. This is an example of _____.

A. product development

B. test marketing

C. project planning

D. idea screening

Answer:

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