Many firms such as Xerox use a cross-functional sales practice known as __________.
a. collaborative selling
b. team selling
c. cooperative selling
d. account selling
e. formula selling
Answer:
“Epicurious” is a website where recipes are posted by the site owner and individual
cooks. Using a “four-fork” rating system, users rate and comment on these recipes for
ease or difficulty in preparation, the taste of the finished dish, and whether or not they
would use the recipe again. What type of social media website is “Epicurious?”
a. Web 2.0
b. a Facebook page
c. a wiki
d. a blog
e. a Twitter account
Answer:
All of the following were brand extension disasters EXCEPT:
a. Cosmopolitan yogurt.
b. Frito Lay lemonade.
c. Life Savers soda.
d. Bic disposable underwear.
e. Windows Vista.
Answer:
Beauty product websites are traditionally designed to be more __________ oriented
than travel websites.
a. content
b. functionally
c. aesthetically
d. text
e. picture
Answer:
Figure 1.
Which of the following forms of direct marketing has the lowest response rate
according to Figure 1. above?
a. direct mail
b. e-mail
c. paid search
d. telemarketing
e. advertising
Answer:
Although Recreational Equipment (www.rei.com) has typical retail store hours, 35
percent of its orders are placed between the hours of 10:00 p.m. and 7:00 a.m. This
shows how electronic commerce contributes to customer value through the creation of
__________.
a. time utility
b. place utility
c. possession utility
d. form utility
e. financial utility
Answer:
What percentage of sales forecasts is made by the personal judgment of the individual
decision maker who must act on the results of the forecast?
a. 10%
b. 18%
c. 33%
d. 76%
e. 99%
Answer:
Which stage in the product life cycle is characterized by a rapid increase in sales and
the appearance of competitors?
a. introduction
b. growth
c. maturity
d. decline
e. accelerated development
Answer:
Figure 1.
Consider Figure 1. above, which is an account management policy grid that groups
customers according to level of opportunity and the firm’s competitive sales position.
“B” represents what account management policy?
a. Consider (1) replacing personal calls with telephone sales or direct mail to service
accounts and (2) dropping the account if it is unprofitable.
b. Take advantage of a good opportunity if the sales organization can overcome its weak
position.
c. Emphasize a heavy sales organization position or shift resources to other accounts if
a stronger sales organization position is impossible.
d. Accounts should receive a high level of sales calls and service to retain and possibly
build accounts.
e. Accounts should receive moderate level of sales and service to maintain current
position of sales organization.
Answer:
Figure 1.
Figure 1. above depicts the four most common marketing channels for consumer
products and services. “X” represents
a. consumers.
b. industrial users.
c. wholesalers.
d. agents or brokers.
e. retailers.
Answer:
Drawing conclusions about a population from a sample taken from that population is
referred to as
a. nonprobability sampling
b. statistical inference
c. probability sampling
d. extrapolation
e. criteria sampling
Answer:
The type of question you are answering right now is an example of a(n) __________
question.
a. Likert scale
b. dichotomous
c. open-ended
d. fixed alternative
e. semantic differential
Answer:
A product can be classified as “new” if it __________ from existing products.
a. is functionally different
b. is different in color
c. is different in its packaging
d. is different in price
e. requires a different distribution channel
Answer:
Figure 1.
Consider Figure 1. above. “D” 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:
Imagine you work for a TV production company that has been approached by one of
the broadcast TV networks to develop a concept for a new reality show. Where are you
most likely to look first for ideas?
a. conducting a survey among the 25,000 households belonging to the Nielsen Media
Research TV ratings panel
b. observing similar reality programs that are on competing television networks like
CBS or MTV
c. telephoning contestants from other reality shows like Survivor
d. obtaining brainstorming ideas from the TV production company’s employees
e. reading about the stars of reality TV programs in gossip magazines
Answer:
Figure 1.
Figure 1. above represents the six steps in setting price. “B” represents the step at which
a firm would
a. estimate demand and revenue.
b. identify pricing objectives and constraints.
c. scan competitors for prices of similar products or services.
d. select the appropriate pricing formula.
e. determine cost, volume, and profit relationships.
Answer:
CPM Marketing Dashboard
According to the CPM Marketing Dashboard above, the CPM for USA Today would be
approximately
a. $19.
b. $30.
c. $57.
d. $88.
e. $119.
Answer:
A new car dealer can reduce the list price of a new Ford F-150 pickup truck by offering
you a __________ of $1,000 for your 1998 Nissan Altima.
a. cash discount
b. functional discount
c. seasonal discount
d. trade-in allowance
e. promotional allowance
Answer:
Any intermediary with legal authority to act on behalf of the manufacturer is referred to
as a __________.
a. dealer
b. agent
c. retailer
d. wholesaler
e. distributor
Answer:
Since Gatorade Thirst Quencher was concocted in 1965, its marketers have introduced
Gatorade Frost in 1997, Gatorade Fierce in 1999, the Gatorade Performance Series in
2001, Gatorade Rain in 2006, and the Gatorade G Series in 2011, to name a few. These
introductions are examples of __________.
a. brand extensions
b. subbranding
c. primary demand
d. product line extensions
e. a product class
Answer:
Which of the following statements about transactional websites is NOT true?
a. Transactional websites are most common among store and catalog retailers and direct
selling companies.
b. Transactional websites can create channel conflict.
c. Transactional websites may cannibalize sales from stores, catalogs, and sales
representatives.
d. Transactional websites often engage visitors with interactive experiences that involve
games, contests, and quizzes.
e. Transactional websites are used less frequently by manufacturers of consumer
products.
Answer:
Which of the following statements about subliminal perception is most accurate?
a. The Federal Communications Commission (FCC) believes that subliminal perception
is effective with a sizeable number of consumers.
b. Subliminal messages are illegal in the United States.
c. Subliminal messages are more effective now due to the advances in
computer-generated images and graphics in movies and TV programs.
d. About half of U.S. consumers think that subliminal messages can cause them to buy
things they don”t want.
e. The use of subliminal messaging is monitored by the Better Business Bureau.
Answer:
Sales per square foot is calculated by
a. dividing total sales by selling area in square feet.
b. dividing profit margin by selling area in square feet.
c. dividing gross profit by selling area in square feet.
d. dividing return on investment by selling area in square feet.
e. dividing net sales by selling area in square feet.
Answer:
Store layout, colors, lighting, and music are all considered part of a store’s retail
a. image.
b. psychological attributes.
c. antecedent attributes.
d. personality type.
e. atmosphere.
Answer:
Many nonprofit organizations have used PSAs in their media planning. What does the
acronym “PSA” stand for?
a. public stakeholder announcement
b. public sustainability announcement
c. public service announcement
d. public service annunciation
e. promotional service announcement
Answer:
The Olympics have become a very visible example of a comprehensive integrated
communication program. For organizers, primary importance is placed on
a. advertising and personal selling.
b. personal selling and public relations.
c. public relations and publicity.
d. sales promotion and direct marketing.
e. direct marketing and personal selling.
Answer:
In a BCG growth-share matrix, a relative market share of 10 at the left end of the scale
on its horizontal axis means that the SBU has 10 times the share of its largest
competitor, whereas a relative market share of 0.1 at the right end of the scale on its
horizontal axis means that
a. the SBU has only 10 percent of the share of its smallest competitor.
b. the SBU has 100 percent of the share of its largest competitor.
c. the growth rate between the SBU and the next largest competitor is actually identical.
d. the SBU has only 10 percent of the share of its largest competitor.
e. the industry growth rate is declining.
Answer:
Each year about __________ of U.S. firms change their sales organizations to
implement new marketing strategies.
a. 5%
b. 10%
c. 25%
d. 36%
e. 50%
Answer:
Relatives and friends whom the consumer trusts are known as __________ of external
information.
a. relational sources
b. marketer-dominated sources
c. personal sources
d. stakeholder sources
e. public sources
Answer:
When a firm offers a very low price on a product to attract customers to a store, and
once in the store, the customer is persuaded to purchase a higher-priced item, the
practice is referred to as
a. predatory pricing.
b. deceptive pricing.
c. price discrimination.
d. caveat emptor.
e. bait and switch.
Answer:
To help consumers assess and compare services, marketers try to make them tangible or
__________.
a. temporal
b. consistent
c. adaptable
d. measurable
e. show the benefits of using the service
Answer:
The extraction of hidden predictive information from large databases to find statistical
links between consumer purchasing patterns and marketing actions is referred to as
a. predictive analysis.
b. information extraction.
c. variable analysis.
d. database management.
e. data mining.
Answer:
When Coca-Cola promoted Coke as a morning beverage for those consumers who
don”t drink coffee, it used a __________ strategy.
a. product modification
b. brand modification
c. market modification
d. market-product extension
e. diversification
Answer:
Which of the following statements about the price-setting process is most accurate?
a. When selecting a strategy for setting an initial price, it doesn”t matter which one you
use as long as you stick with it.
b. Sometimes pricing strategies overlap, and a seasoned marketer will consider several
strategies when choosing an approximate price level.
c. Demand-oriented pricing approaches rely heavily on competitors’ prices.
d. Skimming pricing is a competition-oriented pricing strategy.
e. Penetration pricing is the best pricing strategy for companies trying to meet the goals
of a profit-oriented pricing approach.
Answer:
Figure 1.
The product life cycle shown in “D” in Figure 1. above is an example of a __________
product.
a. high-learning
b. low-learning
c. fashion
d. fad
e. generalized
Answer:
Describe the three forms of product advertisements. What are their objectives?
Answer:
Explain what a visionary organization is and the two key steps that are part of how
visionary organizations formulate strategies.
Answer:
Explain what an unsought product is and give some examples.
Answer:
Define the moral philosophy of utilitarianism and explain its relationship to capitalism.
Answer:
What are the two conflicting goals that advertisers face when choosing advertising
media? What is the relationship of reach and frequency to these goals?
Answer:
Identify and describe each stage in the new-product process in the correct order.
Answer:
Figure 1.
According to Figure 1. above, what are the three elements that today’s visionary
organization must do to be forward looking and successful in its marketing
environment?
Answer:
Explain the difference between trading up and trading down when repositioning a
product.
Answer:
What are the three types of data needed from consumers to develop a perceptual map?
Answer:
What is the difference between a brand name and a trade name? Give an example of
each.
Answer:
Describe the three major concepts of social responsibility.
Answer:
What categories of products are classified as business support products? Give an
example of each category.
Answer:
The principal ways to collect new or primary data for a marketing study are by
watching people and by asking them questions. Give two examples of each method.
Answer:
In China, many people are removing their money from the state banks and lending it
out themselves. The interest rate earned in a state bank account is about one-half the
rate of inflation. On the other hand, loaning money to friends, relatives, and even
unrelated entrepreneurs can often earn the investor a rate at least double the inflation
rate. The gray market, an underground network of investors and private businesses,
moves the cash from lenders to businesses. Did marketing occur here? Explain your
answer.
Answer:
What is internal marketing? Why is it important in services marketing?
Answer:
What is multiproduct branding? What are its advantages? Disadvantages?
Answer: