Which of the following items are inexpensive when compared to other business
products?
a. Accessory equipment
b. Installations
c. Component parts
d. Supplies
Answer:
Which of the following is a limitation of the revenue-oriented pricing approach?
a. High tax rates
b. Difficulty in determining costs
c. High economies of scale
d. Difficulty in communicating to consumers
Answer:
Which of the following questions considered by marketers is best aligned with
distribution strategies?
a. Which market segment should we target?
b. How do we convince customers to buy our products?
c. What products should we manufacture?
d. Where do customers like to shop?
Answer:
Which of the following is true of globalization?
a. It expands economic freedom and increases the living standards of people.
b. It relies on strong government regulations to keep down prices.
c. It fails to offer access to advanced technology in less developed countries.
d. It makes it easier for governments to abuse the freedom and property of their citizens.
Answer:
Which of the following is true of an implied warranty?
a. It prohibits other firms from using a brand or part of a brand without permission.
b. It identifies the brand of a part that makes up the product.
c. It ranges from simple statements to extensive documents written in technical
language.
d. It comes with the sale of every product under the Uniform Commercial Code.
Answer:
_____ is the process of identifying and assessing what is being said about a company,
individual, product, or brand.
a. Media planning
b. Crowdsourcing
c. Social media monitoring
d. Networking
Answer:
A marketing plan can be made more effective by:
a. incorporating managerial intuition.
b. incorporating marketing myopia.
c. making it a series of sequential steps.
d. keeping it brief and broad.
Answer:
Multigenerational householders are a rarity in many parts of the United States.
a. True
b. False
Answer:
In general, average family incomes are higher in the more developed countries than in
the less developed countries.
a. True
b. False
Answer:
A mobile phone manufacturing company is said to functionally modify one of its
products if it:
a. introduces a sleek and stylish version of the mobile phone with the same
specifications.
b. reduces the price of the mobile phone ahead of a sale.
c. introduces stylish headphones for the mobile phone.
d. releases a software update to fix the mobile phone’s heating problem.
Answer:
Becky wants to buy a new cell phone. She asks her tech-savvy friends to recommend a
good phone that is light in weight and easy to use. In this scenario, Becky is obtaining
information using a(n) _____ information source.
a. unbiased
b. internal
c. nonmarketing-controlled
d. marketing-controlled
Answer:
Filmin Inc. has decided to increase the production of its printers. Filmin does not
conduct market research before making its marketing decisions. To ensure profits for
the company, Filmin has instructed its marketing force to aggressively advertise and
promote its printers. The CEO of Filmin believes that the market will absorb more
products if powerful promotion strategies are used. After increasing production of
printers, the company plans to reduce the prices of the printers to encourage customers
to buy them. Filmin appears to have a _____ orientation.
a. task
b. production
c. sales
d. customer
Answer:
A(n) _____ is a limit on the amount of a specific product that can enter a country.
a. quota
b. tariff
c. boycott
d. exchange control
Answer:
Social media are used by marketers as a way to extend the benefits of their traditional
media.
a. True
b. False
Answer:
Which of the following is true of specialty stores?
a. They offer consumers very limited service and carry a vast assortment of
well-known, nationally branded goods such as toys, housewares, and clothing.
b. They price products lower than specialty discount stores.
c. They carry a wide range of products and specialty goods, including apparel,
cosmetics, housewares, electronics, and sometimes furniture.
d. They carry a deeper but narrower assortment of merchandise within a single category
of interest.
Answer:
Which of the following is true of African Americans?
a. More than half of African American children are exclusively raised by their mothers.
b. African Americans are nearly ten years older on average than other American
consumers.
c. The promotional dollars spent on African Americans is drastically reducing.
d. African Americans are less influenced by traditional media than any other group.
Answer:
An example of demographic information would be:
a. the location in which an individual stays.
b. the ethical principles of an individual.
c. the level of creativity of an individual.
d. the technology an individual uses.
Answer:
The use of direct channels in business marketing has increased dramatically in the past
decade with the introduction of various Internet buying and selling schemes.
a. True
b. False
Answer:
Mitchell’s is a popular brand of women’s clothing. During market research, the
company observed that a large number of its existing customers believes and promotes
the use of sustainable goods. Based on findings of the research, the top management of
the company decides to use eco-friendly raw materials in manufacturing their clothes.
Which of the following strategies is Mitchell’s using in this scenario?
a. Market development
b. Cost leadership
c. Product differentiation
d. Market penetration
Answer:
Which of the following questions which companies consider is best aligned with the
production orientation philosophy?
a. What are the product preferences of our customers?
b. How can we sell our products more aggressively?
c. What can our engineers design?
d. How can we gather more information about customer needs?
Answer:
Companies can make strategic planning more effective by:
a. ensuring the participation of top management.
b. ensuring that decision making is centralized.
c. making strategic planning an annual exercise.
d. avoiding cross-functional teams.
Answer:
Which of the following statements is true about the stakeholder theory of corporate
social responsibility?
a. It states that companies should only focus on increasing shareholder wealth.
b. It states that social responsibility is best carried out by government agencies.
c. It states that a company owes a duty to be a good citizen in its community.
d. It states that employees and not the top management should be involved in corporate
social responsibility.
Answer:
An advantage of concentrated marketing is the potential for saving on production and
marketing by using an undifferentiated targeting strategy.
a. True
b. False
Answer:
Organizations use product development strategies to serve customers in their existing
markets.
a. True
b. False
Answer:
At Starmart, Riya saw a box of collector’s edition comic books. Each book was priced
at $28.50, but a customer who bought five of the books was required to pay only $19.99
for each book. Riya bought one book and her friend bought five books. What was the
retailer’s revenue from this purchase?
a. $158.51
b. $19.99
c. $28.50
d. $128.45
Answer:
The_____ is charged with enforcing regulations against selling and distributing
adulterated, misbranded, or hazardous food.
a. Association for Prohibition of Adulteration
b. Consumer Product Protection Commission
c. Consumables Protection Bureau
d. Food and Drug Administration
Answer:
Marketing research is of little help to managers who want to understand detailed and
complicated relationships.
a. True
b. False
Answer:
During the preapproach stage of the selling process, a salesperson should:
a. provide information about various referrals and discounts available.
b. learn as much as possible about a prospect’s organization and its buyers.
c. create point-of-purchase displays.
d. handle price objections and close the sale.
Answer:
Many people fear world trade because it:
a. closes the access to advanced technology for less developed countries.
b. slows down the rate at which people’s living standards increase.
c. causes some people to lose their jobs due to production shifts abroad.
d. empowers governments to abuse the freedom and property of their citizens.
Answer:
Fashion Spell, an apparel store, has a page on Facebook through which it interacts with
its customers. It encourages customers to post comments about the store and give
feedback. It also holds a lucky draw competition every week and the winner receives a
gift voucher from Fashion Spell. Given this information, Fashion Spell uses _____ to
increase its customer base.
a. social media marketing
b. product adaptation
c. contract manufacturing
d. countertrade
Answer:
Lina and her friends decide to watch a movie at Lina’s house. They watch the movie
online on MovieStop.com. This business model is an example of _____.
a. outsourcing
b. nearshoring
c. electronic distribution
d. mass customization
Answer:
Publicity is easily controlled in a free-press environment.
a. True
b. False
Answer:
Large customers insist on cash rebates if the guarantee of stores’ profit margins are not
met.
a. True
b. False
Answer:
Used Car Center Inc. allows salespeople to charge different customers different prices
for essentially the same automobile depending on how good the customer is at
negotiating the price. In this scenario, the company uses a:
a. two-part pricing tactic.
b. price lining tactic.
c. flexible pricing tactic.
d. price skimming tactic.
Answer:
A local grocer groups his customers into specific groups based on what they buy and
when they shop. The grocer then schedules shipments of specific items based on these
customer segments and offers different promotions to different customer groups. This is
an example of customer relationship management.
a. True
b. False
Answer:
Grand Tree Doors does not make a door until an order is received. It promises product
delivery within five working days because of the excellent relationship it has
established with its suppliers. The partnering relationship that Grand Tree Doors shares
with its suppliers and its ability to promptly serve its customers indicate that it has an
efficient__________.
Answer:
A decline in the availability of bicycle handle bars will decrease Huffy Bicycle
Company’s production of bicycles. This decreased production in turn will reduce
Huffy’s demand for bicycle seats. This scenario illustrates__________demand.
Answer:
Green & Gold is a coffee chain based in the United States. Its management has been
trying to refocus on the things that originally made the company successful. For
example, Green & Gold stores across the United States recently shut down for a short
period of time for retraining, and the company has worked to make sure that customers
can smell the freshly ground coffee aroma when they pass by the store. However, when
questioned, consumers tend to emphasize on the need for pricing incentives such as a
frequent purchasing program. According to the__________, there may be a difference
between what customers want and what Green & Gold management thinks customers
want.
Answer:
Briefly explain what service firms must do to be successful in the global marketplace.
Answer:
__________is the element in the promotional mix that evaluates people’s attitudes,
identifies issues that may elicit their concern, and executes programs to gain their
understanding and acceptance.
Answer:
Business marketing deals with the purchase and sale of goods and services intended
for__________.
Answer:
Jaggd Inc., an electronic goods manufacturing company, was planning to launch its
latest smartphone in the market. Within the first few days of launching the phone, Jaggd
wanted to earn as much revenue as the cost incurred in manufacturing the phone. So, it
priced the phone about as high as the market would allow. In this case, Jaggd entered
the market with a__________approach to pricing the smartphone.
Answer:
Explain the importance of product offering in creating a marketing mix.
Answer:
A cost that changes with the level of output is called a(n)__________cost.
Answer:
ABC television network uses billboard, television, magazine, and newspaper
advertising to inform viewers about new episodes of a popular television program.
Therefore, ABC television network uses__________communication to promote the
television program.
Answer:
Items such as sheet metal, treated lumber, corn syrup, and plastics are examples
of__________.
Answer:
Currency markets operate under a system in which the prices of different currencies
move up or down based on the demand for and supply of each currency. This is the
system of__________.
Answer:
__________is a process of finding out about potential clients from friends, business
contacts, coworkers, acquaintances, and fellow members in professional or civic
organizations.
Answer:
Central Bark Doggie Day Care opened the first day care center for dogs. It currently has
31 locations, with a new Gainesville, Florida, location coming soon. The concept of day
care center for dogs became so popular that other competitors begin to enter the market.
With competing companies such as Camp Bow Wow and others entering the market, it
can be said that the concept of day care center for dogs is moving into
the__________stage of a product life cycle.
Answer:
Online Web sites that greet their users by name and offer information that users are
interested in portray the customer relationship management (CRM) trend
of__________.
Answer: