Installations consist of ________.
A) highly priced luxury goods such as Rolex watches
B) portable office equipment such as computers
C) major purchases such as elevators
D) portable factory equipment such as hand tools
E) products such as insurance
Answer:
Style simply describes the ________ of a product.
A) quality
B) appearance
C) utility
D) durability
E) long-term benefits
Answer:
Refer to the scenario below to answer the following question(s).
Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small,
seaside motel to a thriving year-round resort in just a few years. Atop a cliff
overlooking the Maine coast, Seagull Terrace had attracted thousands of visitors during
summer, but then faced a tremendous downturn in business during winter. “But, given
the established industries in the nearby towns, very little year-round competition, and
our close proximity to Portland,” Carol added, “I couldn’t understand why seasonality
had to hit Seagull Terrace so hard!”
So Carol spent her first winter devising a new marketing plan. She put together a
promotional package designed to attract business travelers year-round. Carol’s plan also
involved a seasonal promotional gimmickto be implemented from early winter to late
springthat would attract the same numbers as the large summer crowd. Her idea
worked! During her second winter, Carol greeted numerous business travelersboth
satisfied repeat guests as well as new guests who had been snagged by her promotional
appeals.
“We still have a long way to go,” Carol admitted. “Our delicatessen offers entrees that
are a part of the local cuisine, but we’d like to expand that. We provide health club
privileges off-site, but we’d like to eventually provide our own. These are goals I hope
to achieve in a few years. Our first project, however, included a renovation of our guest
rooms and I’m quite proud of the results.” Carol then added, “Actually there are so
many possibilities. With an indoor pool area, I will eventually offer weekend getaways
throughout winter.”
Carol Veldt’s plan also involves a seasonal promotional gimmick that she wants to
promote aggressively. This is an example of the ________ concept.
A) selling
B) marketing
C) product
D) production
E) societal marketing
Answer:
In ________, companies put their purchasing requests online and invite suppliers to bid
for the business.
A) product specification
B) supplier search
C) reverse auctions
D) procurement
E) problem recognition
Answer:
A federal agency ordered a fast food chain to stop running ads with false claims that its
fried chicken is compatible with certain weight loss programs. Which agency had the
authority to issue this order?
A) the Federal Trade Commission
B) the Food and Drug Administration
C) the Consumer Product Safety Commission
D) the Environmental Protection Agency
E) the American Marketing Association
Answer:
Which of the following is true of price skimming?
A) It is effective in situations in which competitors are able to undercut prices easily.
B) It can be profitably used when the product’s quality and image support its price.
C) It involves underpricing products so that companies make larger sales.
D) It is ineffective in situations in which competitors are unable to enter the market
easily.
E) It leads to a situation in which the company completes more, though less profitable,
sales.
Answer:
Which of the following stages of the new product development process occurs
immediately after the completion of the business analysis for the product or service?
A) idea screening
B) product development
C) product activation
D) marketing strategy development
E) product design
Answer:
Which of the following actions is a restaurant owner most likely to take in order to
reduce problems associated with service intangibility?
A) increase entree prices after 6:00 p.m.
B) provide clean tablecloths and fresh napkins for each new customer
C) empower employees to handle customer complaints
D) offer discounted prices for appetizers ordered during happy hour
E) hold regular employee workshops focusing on customer service
Answer:
Which of the following are the three characteristics that an advertising appeal should
have?
A) engaging, informative, and stylish
B) trendy, compelling, and appealing
C) meaningful, believable, and distinctive
D) unique, emotional, and entertaining
E) humorous, memorable, and interesting
Answer:
While creating research questionnaires, researchers must particularly AVOID the use of
________.
A) biased phrasing
B) simple language
C) closed-end questions
D) logical question arrangement
E) open-ended questions
Answer:
Which of the following is an external source for ideas?
A) project managers
B) engineers
C) salespeople
D) manufacturing staff
E) suppliers
Answer:
________ markets buy goods and services for further processing.
A) Business
B) Reseller
C) Wholesale
D) Consumer
E) Retail
Answer:
Each department in a company that carries out value-creating activities can be thought
of as a link in the company’s ________.
A) channel of intermediaries
B) external value stream
C) demand chain
D) internal value chain
E) supplier chain
Answer:
A ________ is a need that is sufficiently pressing to direct a person to seek satisfaction.
A) stimulus
B) perception
C) culture
D) motive
E) tradition
Answer:
Funco Inc., a toy manufacturer, sold plastic racing cars that were manufactured with
toxic materials, which threatened the health of several children. Under which of the
following acts is Funco most likely to be prosecuted?
A) Child Protection Act
B) Children’s Online Privacy Protection Act
C) Magnuson-Moss Warranty Act
D) CAN-SPAM Act
E) Wheeler-Lea Act
Answer:
________ ventures consist of one company joining forces with foreign investors to
create a local business in which they share ownership and control.
A) Joint ownership
B) Licensing
C) Contract manufacturing
D) Management contracting
E) Indirect exporting
Answer:
________ segmentation refers to dividing the market into segments according to
occasions when buyers get the idea to buy, actually make their purchase, or use the
purchased item.
A) Gender
B) Psychographic
C) Occasion
D) Geographic
E) Income
Answer:
Which of the following is a market leader strategy?
A) expanding market share
B) multiple niching
C) full frontal attack
D) following at a distance
E) following closely
Answer:
Which of the following statements is true about personal communication channels?
A) A magazine advertisement exemplifies the use of a personal communication
channel.
B) All personal communication channels are directly controlled by a company.
C) Personal communication channels do not allow sending and receiving of feedback.
D) Word-of-mouth influence uses a personal communication channel.
E) A billboard message exemplifies the use of a personal communication channel.
Answer:
In the context of media timing, the idea behind ________ is to advertise heavily for a
short period to build awareness that carries over to the next advertising period.
A) continuity
B) pulsing
C) shuffling
D) sequencing
E) segmenting
Answer:
What is the most likely reason that direct-response television marketing has increased
in recent years?
A) uses of social media
B) shifts in demographics
C) increases in global demand
D) changes in FTC legislation
E) advances in technology
Answer:
Delia’s is a clothing retailer that targets teenage girls. The company runs coordinated
promotions for its catalogs, Web site, and retail outlets. It uses the same models in its
catalog, print ads, and Web site. Delia’s works to make sure its public relations activities
as well as its sales promotions harmonize with its advertising in all aspects. From this
information, we can infer that Delia’s is using ________.
A) buzz marketing
B) experiential marketing
C) integrated marketing communication
D) word-of-mouth marketing
E) database marketing
Answer:
Big Mike’s Health Food Store sells nutritional energy foods. The price of the products
sold varies according to individual customer accounts and situations. For example,
long-time customers receive discounts. This strategy is an example of ________.
A) time-based pricing
B) seasonal pricing
C) dynamic pricing
D) promotional pricing
E) penetration pricing
Answer:
In new product buying, the users are often the ________.
A) monitors
B) influencers
C) gatekeepers
D) deciders
E) primary advertisers
Answer:
________ refers to a business buying situation in which the buyer purchases a product
or service for the first time.
A) Modified rebuy
B) Straight rebuy
C) New task
D) Reverse auction
E) Derived demand
Answer:
Which of the following is true of market-penetration pricing?
A) It should be used when the product’s quality and image support a high price.
B) It involves setting a high price for a new product to appeal to the elite in society.
C) It results in drawing in large numbers of buyers quickly, winning a large market
share.
D) It is best used in conjunction with a market-skimming pricing strategy.
E) It results in the company making fewer and less profitable sales.
Answer:
Jonathan works for a firm that assists companies in promoting, distributing, and selling
their products to end consumers. The firm Jonathan works for is a ________.
A) licensor
B) supplier
C) marketing intermediary
D) local public
E) general public
Answer:
Which of the following is a marketing decision that may be called into question under
the law?
A) price increases
B) scarce resources
C) excessive cost
D) dealer’s rights
E) deceptive pricing
Answer:
________ is an approach to cost reduction in which components are studied carefully to
determine if they can be redesigned, standardized, or made by less costly methods of
production.
A) Proposal solicitation
B) General needs description
C) Order-routine specification
D) Cost-benefit analysis
E) Product value analysis
Answer:
The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently
studying the size, density, location, age, and occupation of its target market. Which of
the following environments is being studied in this scenario?
A) demographic environment
B) political environment
C) economic environment
D) technological environment
E) cultural environment
Answer:
Which of the following terms refers to the wholesalers and retailers that form a vital
link between the firm and its customers?
A) factory-supply networks
B) downstream partners
C) resource banks
D) upstream partners
E) supply channels
Answer:
Refer to the scenario below to answer the following question(s).
Most clients of Second Avenue have learned about the store through word-of-mouth
communication. This small retailer of quality secondhand children’s clothing thrives on
the sale of a vast inventory of children’s clothing placed on consignment. “Because
small children grow so quickly,” Second Avenue’s owner commented, “they often
outgrow many of their clothes before they’ve hardly been worn!”
Second Avenue provides a way for people to sell their children’s clothing, earn a few
dollars, and buy the next larger size. “We’re extremely picky about the condition of the
clothing we stock,” the owner stated, “but we sell most items at a 60-percent discount.”
Which of the following media options would be the LEAST costly for Second Avenue’s
promotional efforts?
A) periodic advertising in a local newspaper that follows a pulsing schedule
B) daily advertisements on a cable television station
C) daily commercials during the local evening news
D) a billboard placed on the nearest interstate highway
E) a billboard placed in a supercenter
Answer:
Joanna uses her smartphone to accomplish many tasks everyday. She is also an avid
shopper. Which online marketing tool will benefit Joanna the most to help her shop?
A) e-mail messages from sites to which she subscribes
B) banking app for her bank
C) instant deals and digital coupons
D) YouTube video
E) Facebook friends
Answer:
An appeal that attempts to stir up either negative or positive sentiments that can
motivate purchase is called a(n) ________ appeal.
A) rational
B) structural
C) emotional
D) moral
E) standard
Answer:
The market researchers at HoneyCamp Foods gather daily sales data and sort it by
product line and region. With the help of sophisticated tools and techniques, they
develop the data needed by marketing managers to evaluate the market share of the
company’s different products and also to gain valuable market insights. This mix of
people and procedures at HoneyCamp Foods that generate actionable marketing
insights represents a(n) ________.
A) enterprise planning system
B) product mix
C) strategic planning system
D) marketing information system
E) business portfolio
Answer: