Which of the following statements is true about Generation Y?
a. Its members were born between 1965 and 1978.
b. Its members are tech savvy but still use traditional media.
c. Its members have the least spending power than any other cohort.
d. Its members are the first generation of latchkey kids.
Answer:
Delta Company recruits and trains college students to sell educational reference books,
software, and children’s books door-to-door. This form of retailing is called:
a. direct retailing.
b. online retailing.
c. off-price retailing.
d. in-store retailing.
Answer:
3D printing is a process which is sometimes used to create three dimensional prototypes
of a product quickly and at a relatively low cost.
a. True
b. False
Answer:
A product’s benefit is simply a feature of the product such as its easy-open package,
special formulation, or new lower price.
a. True
b. False
Answer:
Marketers have more trouble promoting tangible goods than intangible services.
a. True
b. False
Answer:
Social media are promotion tools used to facilitate conversations and other interactions
among people online.
a. True
b. False
Answer:
Inland Eastex Inc. manufactures paper that is used for printing covers for different types
and sizes of magazines. The percentage of magazine sales determines how much paper
Inland Eastexwill produce each year. This is an example of _____ demand.
a. joint
b. inelastic
c. derived
d. elastic
Answer:
Periods of inflation are an excellent time to build market share through the use of price
shading.
a. True
b. False
Answer:
MaxNutri sells cookies and nutrition bars. The marketers at MaxNutri are trying to
come up with a new and attractive packaging design for its cookies. In this scenario,
MaxNutri is working on its _____ strategy.
a. point of purchase
b. distribution
c. advertising
d. product.
Answer:
A trade allowance is a price reduction offered by retailers to customers who are buying
homogeneous shopping goods.
a. True
b. False
Answer:
For businesses, consumer penalties are part of doing business in a highly competitive
marketplace.
a. True
b. False
Answer:
Baby boomers:
a. spend less money than any other cohort.
b. spend more on food than any other population group.
c. have many health care expenses.
d. are not open to new brands.
Answer:
A multisegment targeting strategy differs from a concentrated targeting strategy in that
it:
a. selects one segment of a market with a goal to satisfy its members.
b. faces a high potential cost from cannibalization of products.
c. develops and maintains a common marketing mix for its products.
d. results in sterile, unimaginative product offerings.
Answer:
Individuals born between 1965 and 1978 form a group called:
a. tweens.
b. Generation X.
c. baby boomers.
d. Millennials.
Answer:
The first action a marketing team should take when initiating a social media campaign
is:
a. establish a listening platform.
b. identify the medium for the campaign.
c. identify potential consumers.
d. decide which tools and platforms to use as part of its social media strategy.
Answer:
The best way for manufacturers to control prices is by using an exclusive distribution
system.
a. True
b. False
Answer:
The purpose of the screening stage in a new-product development process is to:
a. refine the promotion campaign to be used with the new product.
b. eliminate ideas that are inconsistent with an organization’s new-product strategy.
c. identify and eliminate concept tests that might lead to duplication of experiments.
d. set a limit on the number of members allowed to assess the viability of a new-product
idea.
Answer:
Which of the following basic values strongly influenced attitudes in the United States’
first 200 years?
a. Structural mobility
b. Self-sufficiency
c. Nonconformity
d. Self-dealing
Answer:
Studies suggest that ethical beliefs vary little from culture to culture.
a. True
b. False
Answer:
Which of the following statements is true about the trends prevalent among various
ethnicities in the ethnic markets?
a. African Americans are on average older than all other ethnic groups.
b. Women are the primary decision makers in the majority of Hispanic households.
c. Asian Americans retain strong core values as they acclimate to American culture.
d. Asian Americans have the least spending power than any other minority group.
Answer:
It is possible to observe the learning process directly.
a. True
b. False
Answer:
A similarity between the customer relationship management process and supplier
relationship management process is that both:
a. provide structural support for developing and maintaining relationships with their
respective supply chain partners.
b. ensure that relationally integrated supply chains operate in an environment that has
no set rules or procedures.
c. fail to directly impact a firm’s profitability and its ability to commercialize new
offerings.
d. eliminate the manufacturing flow management process within companies by
removing unnecessary steps in the supply chain.
Answer:
The basic goal of _____ is to increase the short-term cash return without too much
concern for the long-run impact.
a. building
b. holding
c. harvesting
d. divesting
Answer:
Although many factors can influence the price of a product, the primary determinants
are:
a. the costs of manufacturing and distributing the product.
b. the demand for the product and the cost to the seller for the product.
c. the demand by consumers and the perceived quality of the product.
d. the distribution and promotion strategies for the product.
Answer:
Involvement is the amount of time and effort a buyer invests in the search, evaluation,
and decision processes of consumer behavior.
a. True
b. False
Answer:
In the context of global marketing, when a domestic firm buys part of a foreign
company or joins with a foreign company to create a new entity, it is known as a _____.
a. countertrade
b. franchise
c. joint venture
d. common trade alliance
Answer:
Univ Airlines and MiragoAirlines are two competing airlines. They make an agreement
to charge customers a certain price for airfreight. This leads to the filing of several
lawsuits against them by other airlines. In this scenario, the two firms most likely
indulged in _____.
a. penetration pricing
b. price skimming
c. price fixing
d. odd”even pricing
Answer:
Which of the following is a similarity between a stock market and a labor market?
a. Both adopt a barter system to enable the exchange of products.
b. Both have people who are unwilling to spend a large sum of money for products or
services.
c. Both have people with the necessary resources to buy desired products or services.
d. Both deal with high-end, expensive products.
Answer:
_____ is the process by which meanings are exchanged or shared through a common set
of symbols.
a. Promotion
b. Advertising
c. Publicity
d. Communication
Answer:
In order to combat U.S. corporations’ use of illegal payments and bribes in international
business dealings, Congress enacted:
a. the Future Corporation Protection Act.
b. the Foreign Corrupt Practices Act.
c. the Foreign Trade Act.
d. the International Treaty Clause.
Answer:
Liquiction Pool and Patio Inc. is a company known for its quality pool installations,
excellent customer service, and reasonable prices. Given the demand, Liquiction could
price its products higher, but it prefers to price its products such that it will earn a
reasonable level of profits. Liquiction seems to base its pricing policy on:
a. profit maximization.
b. earning satisfactory profits.
c. creating retained earnings.
d. maintaining a status quo pricing.
Answer:
Competition remains constant during a product’s life cycle.
a. True
b. False
Answer: