A restaurant review published in the local newspaper is an example of __________.
A. publicity
B. sales promotion
C. advertising
D. direct marketing
E. personal selling
Answer:
The four major types of limited-service merchant wholesalers are rack jobbers, cash and
carry wholesalers, truck jobbers, and __________.
A. machine vendors
B. credit line wholesalers
C. transport vendors
D. container transport vendors
E. desk jobbers
Answer:
Sales activities occurring before, during, and after the sale itself, and which consist of
six stages, are referred to as
A. the new-product process.
B. the strategic marketing process.
C. the personal selling process.
D. the consumer purchase decision process.
E. relational selling.
Answer:
Figure 2-1
In Figure 2-1 above, E represents the __________ operating at the lowest strategic
level.
A. board of directors
B. corporate level
C. departments
D. executives
E. strategic business unit level
Answer:
As an owner of a Wendy’s fast-food restaurant located near a large urban university, you
need to analyze your customers and determine which segmentation base and its
associated variable(s) you will use to segment your target market. Which segmentation
base and associated variable (s) should you use?
A. psychographic: VALS and personality
B. demographic: gender and age
C. behavioral: students and nonstudents
D. geographic: city size and zip code
E. transportation mode: car, bike, public transportation, and none (walking)
Answer:
A Patek Philippe Sky Moon Tourbillion men’s wristwatch is among the most expensive
in the world, costing over $1.75 million. This is an example of a __________ strategy.
A. penetration pricing
B. target pricing
C. bundle pricing
D. loss leader pricing
E. prestige pricing
Answer:
Four general categories used to segment consumer markets are geographic
segmentation, demographic segmentation, __________, and behavioral segmentation.
A. supplier segmentation
B. demand segmentation
C. regional segmentation
D. psychographic segmentation
E. product segmentation
Answer:
The view that holds an organization should satisfy the needs of consumers in a way that
also provides for society’s well-being is known as
A. the societal marketing concept.
B. the marketing concept.
C. consumerism.
D. social responsibility.
E. capitalism.
Answer:
When Nestl actually owns a subsidiary or division in a foreign country, such as when it
established its own ice cream manufacturing operation in China, this global market
entry strategy is known as __________ and represents the greatest commitment a
company can make to international sales.
A. licensing
B. local assembly
C. a joint venture
D. direct investment
E. local manufacturing
Answer:
Which of the following statements most closely describes the people in the buying
center of a medium-sized manufacturing plant?
A. The composition of the buying center remains constant over long periods of time.
B. The buying center avoids cross-functional teams whenever possible.
C. The composition of the buying center depends on the specific item being purchased.
D. The purchasing manager is an occasional member of the buying center.
E. Most government units use a formal buying center to arrive at buying decisions.
Answer:
Facts and figures that have already been recorded before the project at hand are referred
to as
A. primary data.
B. empirical data.
C. secondary data.
D. demographic data.
E. observational data.
Answer:
Combining a corporate or family brand with a new brand to distinguish a part of its
product line from others is referred to as __________.
A. subbranding
B. multibranding
C. mixed branding
D. private branding
E. family branding
Answer:
The most commonly used pricing method for business products is __________.
A. target return on investment
B. customary
C. standard markup
D. target profit
E. cost-plus pricing
Answer:
The linking of the organization to its individual customers, employees, suppliers, and
other partners for their mutual long-term benefit is referred to as
A. relationship marketing.
B. exclusive dealing.
C. loyalty marketing.
D. customer relationship management.
E. symbiotic marketing.
Answer:
In terms of the diffusion of innovation, early adopters account for __________ of
product adopters.
A. 2.5%
B. 13.5%
C. 16%
D. 34%
E. 50%
Answer:
Which of the following is FALSE about a multibranding strategy?
A. A multibranding strategy, there is no risk that a product failure will affect other
products in the line.
B. Some large firms have found that the complexity and expense of implementing a
multibranding strategy outweigh its benefits.
C. With a multibranding strategy, each brand is unique to each market segment.
D. A multibranding strategy is used when a firm produces products and sells them under
the brand name of a wholesaler or retailer.
E. Some multibrands are introduced to confront competitors’ brands.
Answer:
An action item list refers to an aid to implement a marketing plan that consists of four
columns: (1) the task; (2) __________; (3) the date to finish the task; and (4) what is to
be delivered.
A. the budget
B. the product or service
C. the points of difference
D. the promotional message
E. the person responsible for completing that task
Answer:
The eight-second rule refers to the view that
A. if a website does not attract a consumer’s attention in the first eight seconds, the
consumer will move on to a different site.
B. customers will abandon their efforts to enter and navigate a website if download time
exceeds eight seconds.
C. any online purchase should take no more than eight seconds to complete.
D. prospective customers will not wait longer than eight seconds for a response in a
chat room.
E. 50 percent of online consumers will spend less than eight seconds surfing a website.
Answer:
Figure 6-3
According to Figure 6-3 above, points B and C would most likely represent
__________ and __________ options respectively for entering the global marketplace.
A. exporting; licensing
B. licensing; joint venture
C. joint venture; direct investment
D. exporting; direct investment
E. exporting; joint venture
Answer:
Offering a product for sale in a small geographic area to help evaluate potential market
actions is called a(n) __________.
A. micro market
B. test market
C. experimental market
D. simulated market
E. trial market
Answer:
The 80/20 rule suggests that
A. 80 percent of a firm’s inventory should be readily available while 20 percent should
be reserved for emergency demand.
B. 80 percent of a firm’s first-time users will become brand loyal while 20 percent will
use the product only once and then abandon it.
C. 80 percent of a firm’s sales are obtained from 20 percent of its customers.
D. 80 percent of a firm’s marketing program expenses are tax deductible while 20
percent are not.
E. 80 percent of a firm’s products will be sold to ultimate consumers while 20 percent to
organizational buyers.
Answer:
Products that are purchased by the ultimate consumer are referred to as __________.
A. generic products
B. end user goods
C. personal items
D. merchandise
E. consumer products
Answer:
Google
A. is a depository of information on U.S. business, economic and trade activity
collected by the federal government.
B. is to the most direct way to access all government websites.
C. provides up-to-the-minute business news and security prices plus research reports of
companies, industries, and countries.
D. is the most popular Internet portal where users can enter key words or topics for
specific searches.
E. accesses information in online databases and an index of blogs by primary topic.
Answer:
What would most likely occur at the preapproach stage in a business selling situation?
A. The order getter would make initial contact with the order taker.
B. The search for and qualification of prospects would begin.
C. The initial meeting would transpire and business would be concluded.
D. A decision would be made concerning whether the sale was to be a straight rebuy, a
modified rebuy, or a new buy.
E. The buying role of the prospect, important buying criteria, and the prospect’s
receptivity to a presentation would be determined.
Answer:
If you find that the staff who work in your college’s career center give you poor advise
or otherwise did not provide sufficient help in finding you employment after
graduation, you may be dissatisfied with your entire college experience. This is an
example of which issue associated with services?
A. inseparability
B. intangibility
C. impressionability
D. incongruity
E. inflexibility
Answer:
Many companies subscribe to being “green” because they feel that consumers value
this. Yet, in many of these same firms, office computers are left on 24 hours a day and
office paper is not recycled. This example indicates it is not always easy for firms to act
in accordance with the
A. marketing concept.
B. customer relationship management concept.
C. consumerism.
D. social entrepreneurship.
E. cause marketing.
Answer:
Procter & Gamble created an advertisement for its High Endurance men’s
antiperspirant. In terms of the communication process, the __________ of the
information in the product’s advertisement is Procter & Gamble, its manufacturer.
A. receiver
B. source
C. message
D. decoder
E. communication channel
Answer:
Online consumers are considered empowered consumers because
A. products and services purchased online often cost less than in a retail store.
B. online shopping does not require that they fight traffic, find a parking space, walk
long store aisles, and wait in line at checkout.
C. they can control their shopping and purchase decision process.
D. there are websites for almost any product or service they want.
E. they can engage in an electronic dialogue with marketers.
Answer:
All of the following statements about the environmental forces that have influenced
Facebook are true EXCEPT:
A. the Federal Trade Commission (FTC) has had a laissez faire policy of not interfering
with the development and marketing of Facebook and other social media websites.
B. technological advances in data storage, server speed, and software integration have
made Facebook fast and convenient.
C. Google and Facebook are becoming fierce competitors for the role of society’s
depository of information.
D. the cost of wireless connectivity, Internet service, and smartphones rapidly declined
and made social networking affordable for consumers around the world.
E. people became increasingly interested in the social aspects of the Internet, sharing
more and more information about themselves.
Answer:
The marketing program – step 3 in the strategic planning process – answers which
question?
A. who
B. what
C. when
D. why
E. how
Answer: