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When an online intermediary like Hulu scans thousands of hours of programming each
week and groups these programs into categories of digital programs (e.g. sports, crime,
etc.), this is an example of:
A. Vertical integration.
B. Sorting.
C. Bulk-breaking.
D. Assorting.
E. Licensing.
At Dell's Web site, a student can order a laptop computer with the exact memory
capability and software that she wants, and have it shipped to her dorm room within 48
hours. This is an example of:
A. Combined target market approach.
B. Task transfer.
C. Mass customization.
D. Diversification strategy.
E. Single target market approach.
Unlike a business firm, a nonprofit organization
A. needs resources and support to survive and achieve its objectives.
B. must take in as much money as it spends or it won't survive.
C. does not measure "profit" in the same way.
D. faces competition for customers.
E. gets support directly from those who receive the benefits.
The difference between target marketing and mass marketing is that target marketing
A. means focusing on a small market.
B. focuses on short-run objectives, while mass marketing focuses on long-run
objectives.
C. focuses on specific customers, while mass marketing aims at an entire market.
D. does not rely on e-commerce but mass marketing does.
E. aims at increased sales, while mass marketing focuses on increased profits.
Which of the following is a sales-oriented pricing objective?
A. Meet competition
B. Market share growth
C. Profit maximization
D. Target return
E. Nonprice competition
Which of the following best illustrates communication "noise"?
A. Magazine sales reps telephone consumers to offer low-price subscriptions.
B. A TV ad is recorded at a higher volume than is used for most TV shows.
C. A political candidate rides through town in a car with a loud speakerasking
pedestrians to vote for her.
D. None of these alternatives clearly illustrates "noise."
For a successful sales presentation, which of the following steps in the personal selling
process most likely occurs last?
A. Preplan sales presentation
B. Follow up after purchase
C. Select target customer
D. Make sales presentation
E. Close sale
Marci, a student, is used to paying $1.25 for a 12-ounce can of Diet Coke from various
vending machines on campus, so she expects the new vending machine just installed
outside her Chemistry classroom to charge her the same amount for her favorite
beverage. For Marci, the $1.25 price is a:
A. Reference price
B. Gross price
C. Bundle price
D. Leader price
E. Bait price
Personal selling
A. is important to business firms, but only about 1 percent of the U.S. labor force does
personal selling work.
B. is often a company's largest single operating expense.
C. requires only that the sales rep have an engaging smile, a big expense account, and
the ability to get along well with people.
D. uses the same techniques around the globe with little variation.
E. None of these alternatives is true.
Which of the following statements about nationalism is NOT TRUE?
A. Nationalism can be limiting in international markets.
B. A "Buy American" policy reflects nationalistic attitudes in the United States.
C. Nationalistic feelings can block all marketing activity in some international markets.
D. Nationalistic feelings always reduce sales.
E. Nationalism emphasizes one country's interests before everything else.
Advertising objectives should
A. be specific, but not as specific as the objectives for the personal selling effort.
B. be set by the specialiststhe creative people at the advertising agency.
C. be quite general so that ads will appeal to the largest possible audience.
D. determine the kinds of advertising needed.
E. be more specific for institutional advertising than for direct type competitive
advertising.
If a producer's marketing manager doesn't know the shape of the demand curve for a
new product, the initial price level policy should probably be a(an) ______________
policy.
A. flexible-pricing
B. target-return pricing
C. introductory pricing
D. penetration price
E. skimming price
MICRO-marketing effectiveness can be measured by:
A. the profits of business firms.
B. the opinions of intermediaries.
C. consumer complaints.
D. attitude research studies.
E. All of these are good measurements for MICRO-marketing.
Which of the 4Ps in the marketing mix is most directly related to the instructions that
come with a new high-definition television set?
A. Product
B. Place
C. Promotion
D. Price
At what stage of the product life cycle do industry profits start to decline?
A. Market maturity
B. Market introduction
C. Market growth
D. Stagnation
E. Sales decline
Which of the following steps in the personal selling process typically occurs before the
target customer is selected?
A. Follow up after sales call
B. Preplan sales call
C. Make sales presentation
D. Set effort priorities
E. Close sale
The Sherman Act and the Clayton Act:
A. were intended to protect large producers.
B. were designed to limit competition.
C. were passed during the rash of corporate takeovers in the 1980s.
D. None of these is correct.
Sales analysis:
A. typically involves reorganizing existing information rather than gathering new
information.
B. may involve analyzing many different breakdowns of overall sales.
C. is usually a good first step when setting up a control system.
D. All of these are true.
Compared to qualifying dimensions, determining dimensions
A. are more likely to be related to whether a customer will make a purchase in the
product-market at all.
B. help identify the "core benefits" offered to everyone in the product market.
C. are usually much more specific.
D. are relevant to including a customer type.
E. None of these is true.
Which of the 4Ps in the marketing mix is most directly related to deciding who pays for
the shipment of purchased products in a B2B transaction?
A. Product
B. Place
C. Promotion
D. Price
Marketing cost analysis:
A. just uses the same "natural" accounting categories commonly used for financial
analysis.
B. allocates costs to products or customers to focus on the purpose for which marketing
money is spent.
C. is not very accurate, since it is almost impossible to link marketing costs to specific
sales.
D. is done more frequently than analysis of manufacturing costs.
E. None of these is true.
Regarding markups and turnover:
A. high markups usually lead to high profits.
B. speeding turnover usually decreases profits.
C. items sold at low markups (e.g., 20 percent) cannot be profitable.
D. depending on the industrya stockturn rate of 1 or 2 may be quite profitable.
E. All of these alternatives are correct.
Antidumping laws:
A. protect consumers from the high prices charged by monopolistic foreign producers.
B. set the maximum price a foreign producer can charge.
C. are used in an effort to control the minimum price of imported products.
D. make it illegal for a foreign producer to sell a product at a price level lower than
domestic producers.
E. force foreign producers to sell below cost if they want to compete with a nation's
domestic producers.
A wine producer wants a supermarket manager to display its wines in a desirable
end-of-aisle location, but the supermarket manager refuses to give that valuable real
estate to this producer. This is an example of __________ conflict.
A. contractual
B. vertical
C. corporate
D. horizontal
E. administered
Which of the following statements about "hierarchy of needs" is FALSE?
A. As soon as lower level needs are reasonably satisfied, those at higher levels become
more dominant.
B. A higher level need may develop before lower level needs are completely satisfied.
C. The order in which needs are satisfied follows a definite patternwith lower level
needs being completely satisfied first.
D. A particular product may satisfy more than one need at a time.
E. None of these statements about "hierarchy of needs" is FALSE.
Auction sites are now popular for:
A. surplus inventory.
B. used items.
C. perishable products.
D. seasonal products.
E. All of these are now popular at auction sites.
Order getters:
A. may make a sale by helping a customer solve a business problem.
B. are more likely to be used with homogeneous shopping products than heterogeneous
shopping products.
C. are used in business markets but not in consumer markets.
D. generally rely on a routine "canned" sales presentation.
E. All of these alternatives are correct.
Wendy's continues to test possible new toppings for hamburgers, including grilled
mushrooms and provolone cheese. This suggests that Wendy's is pursuing
______________.
A. marketing myopia
B. mass marketing
C. product development
D. market development
E. diversification
Budgeting for marketing expenses by computing a percentage of forecasted sales:
A. is especially suitable for new products.
B. always results in increased expenditure levels from year to year.
C. is very complicatedand thus this method is not used very often.
D. may lead to a drop in marketing expenses at a time when the firm wants to maintain
or expand sales.
E. tends to result in large changes in marketing expenses from year to year.
Which of the following is the best example of a "product-market?"
A. The MP3 player market
B. The young adult exercise market
C. The software market
D. The convenience market
E. The status symbol market
To help cosmetic company, RedRain Inc., launch a new line of lipstick, tickets that can
be redeemed for prizes are enclosed in some of the lipstick packages. This activity can
be best classified as
A. advertising.
B. publicity.
C. sales promotion.
D. personal selling.
E. mass marketing.
Suppose you were able to start new cities on a planet in outer space. Suppose also that
these cities will be self-supporting. Further, they will be democraticwith the objective of
maximizing consumer welfaremeasured by the level of consumer satisfaction. The
economic decisions will be made through the "market mechanism." Which of the
following statements might be made by some of the settlers?
A. "The price of food is too high."
B. "Intermediaries should be eliminated."
C. "Advertising expenditures are too high."
D. "Marketing costs too much."
E. All of these statements are likely to be made.
When customers have consistently positive experiences with a brand, or they hear good
things from the firm's promotion or other customers, we can expect that customers will
_______ that brand name.
A. mistrust
B. demand
C. trust
D. tolerate
E. dislike
Which of the following typically would NOT be paid for using working capital?
A. Purchase of new facilities
B. What it costs to store inventory
C. What a firm owes suppliers
D. Employee salaries
E. Marketing research costs
There are big shifts in demand from season to season for the lawn mowers produced by
GreenVision Co.and its need for storage facilities also varies. GreenVision should think
about using:
A. piggyback service.
B. private warehousing facilities.
C. distribution centers.
D. public warehousing facilities.
E. None of these is a good answer.
