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After making a purchase, buyers often wonder if they made the right choice. The
resulting tension is called dissonance.
Answer:
Cookies are a cost-effective way for advertisers to target ads and boost online sales.
Answer:
Smartphones' embedded GPS works best for location-based retail outlets.
Answer:
Discretionary income is the income adjusted to take out the effects of inflation.
Answer:
Opportunities that fall into the red boxes of General Electric's 'strategic planning grid"
are growth opportunities.
Answer:
Professional services are usually expense items which support the operation of a firm.
Answer:
Whenever Product includes a physical good, Place requires logistics decisions.
Answer:
General merchandise wholesalers handle a wide variety of nonperishable items-and
usually serve many different kinds of retail stores.
Answer:
Developing integrated marketing communications is more difficult when different firms
in the channel handle different aspects of the promotion effort.
Answer:
Even though the more developed industrial nations don't have the largest populations,
they do have the biggest share of the world's GDP.
Answer:
Marketing only applies to for-profit organizations.
Answer:
Business and organizational customers are selective buyers who buy for the sole
purpose of resale.
Answer:
According to the Hierarchy of Needs, consumers are motivated to first satisfy their
higher-order needs, then they will focus on their lower-level needs.
Answer:
Intermediaries specialize in trade and production.
Answer:
The Internet is a powerful way to get information about competitors.
Answer:
Marketing-oriented managers think of segmenting as a disaggregating process.
Answer:
A sales quota is the specific sales or profit objective a salesperson is expected to
achieve.
Answer:
"Merchant wholesalers"-who take title to the products they sell-are the most common
type of wholesaling establishment.
Answer:
A decision support system (DSS) is a computer program that makes it easy for a
marketing manager to get and use information as he or she is making decisions.
Answer:
In customer-initiated interactive communication, the most common message channel to
use for search is the Internet-and a search engine like Google.
Answer:
Freight-absorption pricing basically amounts to cutting list price on sales to distant
customers.
Answer:
Most traditional channel systems don't have a channel captain.
Answer:
Highly trusted people, brands, and companies have many disadvantages in the
marketplace.
Answer:
In comparison with other promotion methods, sales promotion can neither be
implemented quickly, nor get results quickly.
Answer:
Managers satisfied with their current market share and profits are most likely to adopt
sales growth oriented objectives.
Answer:
"Cooperative chains" like True Value Hardware are retailer-sponsored groups formed
by independent retailers to run their own buying organizations.
Answer:
Even if a firm's average variable cost remains constant per unit, its average cost will
increase as output increases.
Answer:
S.W.O.T. analysis is based on the idea that one of the best ways to develop a strategy is
to identify and copy the marketing 'strategies, weapons, outlook, and tactics" of the
firm's most effective competitor.
Answer:
Sales growth is faster when the product can be used on a trial basis.
Answer:
A flexible-price policy is most often used where products are not standardized and
where bargaining is common.
Answer:
A manager could be fined for violating the antimonopoly laws, but he or she could not
be sent to jail.
Answer:
Ideally, a good marketing mix should:
A. be very similar to the marketing mix typically used by key competitors.
B. be determined by which marketing mix costs the least.
C. not include much advertising because it's expensive and usually isn't very effective.
D. flow logically from all the relevant dimensions of a target market.
Answer:
A potential customer watches a TV ad for the new BMW 7-series sedan during the
highly-rated Academy Awards program. In the traditional communication model, the
potential customer is the:
A. Source
B. Message channel
C. Receiver
D. Encoder
Answer:
Which of the following observations regarding ethnic shifts in the American market is
FALSE?
A. Estimates indicate that Hispanics spend nearly $1 trillion a year.
B. Estimates indicate that African Americans spend nearly $1 trillion a year.
C. Estimates indicate that Asian Americans spend over $500 billion a year.
D. The buying power of ethnic submarkets is increasing rapidly.
E. None of these observations about ethnic shifts is FALSE.
Answer:
When consumers do not know where to buy a product or what it costs and the product's
producer does not know where its target market is located, this is an example of:
A. separation of information.
B. discrepancy of quantity.
C. separation of ownership.
D. discrepancy of assortment.
E. separation in time.
Answer:
The authors of the text contend that:
A. Both micro- and macro-marketing cost too much.
B. Neither micro- or macro-marketing costs too much.
C. Micro-marketing often does cost too much, but macro-marketing does not.
D. Micro-marketing does not cost too much, but macro-marketing does.
E. None of these alternatives is correct.
Answer:
A pest control company using the most common method of promotional budget
planning is most likely to base its promotional budget on which of the following?
A. A percentage of expect future sales revenue from pest control jobs
B. Advertising costs incurred by related businesses within the same area
C. Customer reviews of other pest control companies in the local market
D. A detailed analysis of the requirements of the promotion objectives
E. Survey data from customers regarding company promotion methods
Answer:
All of the following are specific objectives a marketing manager might give an
advertising manager except
A. position the firm's brand or marketing mix by informing and persuading target
customers or intermediaries about its benefits.
B. introduce existing products to nonspecific target markets.
C. obtain desirable outlets and tell customers where they can buy a product.
D. maintain relationships with satisfied customers and encourage more purchases.
E. get immediate buying action.
Answer:
_____ are concerned with making the best use of a consumer's time and money-as the
consumer judges it.
A. Economic needs
B. Psychological needs
C. Social influences
D. Behavioral influences
E. Perceptual needs
Answer:
Betti Hallmark sells women's clothing and gets most of her business from regular
customers who have bought from her before. Betti never tries to sell anything before
first trying to determine each customer's specific needs. Once she understands the
customer's needs, Betti helps the customer understand her own needs and then shows
how some product will fill those needs. Betti's sales presentation uses the:
A. "canned" approach.
B. target market presentation.
C. selling formula approach.
D. consultative selling approach.
E. None of these is a good answer.
Answer:
The text's consumer product classes are based on:
A. each product's price level.
B. the way consumers think about and shop for products.
C. the channel(s) of distribution used for each product.
D. the nature of the product and how it will be used.
E. how the product is produced.
Answer:
In a buying center, which of the following are likely to be influencers?
A. Purchasing managers who arrange the terms of the sale
B. People who supply information for evaluating alternatives
C. People who have the power to select or approve suppliers
D. People who control the flow of information
E. Purchasing managers who shield users or other deciders
Answer:
Regarding promotion blends, which of the following statements is TRUE?
A. Consumer products producers should rely almost completely on personal selling in
the market maturity stage.
B. Reminding becomes important in the market introduction stage.
C. More targeted promotion is needed during the sales decline stage of the product life
cycle.
D. Informing becomes important in the market growth stage.
E. None of these statements is TRUE.
Answer:
Most physical distribution decisions involve trade-offs between
A. the total cost of physical distribution and consumer service levels only.
B. transportation costs and inventory carrying costs only.
C. costs, consumer service levels, and sales.
D. sales and consumer service levels only.
E. availability and speed of delivery only.
Answer:
Often the most difficult step in the marketing research process is:
A. analyzing the situation.
B. defining the problem.
C. getting problem-specific data.
D. interpreting the data.
E. None of these is a good choice.
Answer:
Which of the following statements about "new products" is FALSE?
A. In order for it to be advertised as new, there should be a functionally significant
change in the product-according to the FTC.
B. A product should be considered "new" by a particular firm if it is new in any way for
that company.
C. The FTC considers six months as the maximum time that a product should be called
"new."
D. According to the FTC, a product may be called "new" (for example, in advertising)
as long as the firm has made at least some minor change in the package or product.
E. A marketing manager should consider a product new if it is aimed at new markets.
Answer:
Which of the following countries has the fastest projected population growth between
2010 and 2025?
A. United Kingdom
B. Canada
C. Germany
D. United States
E. Ethiopia
Answer:
Offering a marketing mix that is like what is available from competitors usually
A. doesn't provide superior value.
B. reveals where customers are located.
C. amounts to a feasible strategy.
D. offers a competitive advantage.
E. provides differentiation for the seller.
Answer:
The main difference between merchant wholesalers and other wholesalers is that they:
A. are more aggressive at selling than agent wholesalers.
B. offer fewer wholesaling functions.
C. have the lowest operating expenses as a percent of sales.
D. own (take title to) the products they handle.
E. are willing to perform retailing functions also.
Answer:
On June 23, 2010, the value of the euro was 1.31 compared to the U.S. dollar. This
meant that an American paying $100 for a product in the United States would be asked
to pay ______ euros for the same product while traveling in Europe.
A. 31
B. 69
C. 100
D. 131
Answer:
Positioning analysis
A. helps managers understand the actual characteristics of their products.
B. is not a product-oriented approach.
C. is a visual aid to understanding a product-market.
D. shows that managers and customers usually view present brands similarly.
E. always leads a firm to segmenting and not combining.
Answer:
In addition to snail mail, direct-response promotion may include:
A. broadcast
B. telephone
C. e-mail
D. the Internet
E. any of these could be included in direct-response promotion
Answer:
When a company provides its advertising agency with a statement about a new product
to use in designing an advertising campaign, and this statement includes a description
of the target market, the product type, the primary benefits of using the product, and
how this product is different from, and better than, competitive products, what type of
statement is this?
A. Qualifying
B. Positioning
C. Determining
D. Clustering
E. Combining
Answer:
A marketing manager has just learned about generic markets. This may lead the
manager
A. to see a larger set of potential competitors.
B. to put less emphasis on market penetration or market development opportunities and
more emphasis on product development opportunities.
C. to think about new ways of satisfying the needs of her current customers.
D. All of these alternatives are correct.
Answer:
At which stage of the product life cycle are VHS video recorders?
A. Stagnation
B. Market introduction
C. Sales decline
D. Market maturity
E. Market growth
Answer:
Watson's Bakery found five different market segments among customers for its bakery
goods. When developing a market-oriented strategy, the marketing manager used a
____ approach, putting two target markets together and developing a single marketing
mix that would meet the needs of the new larger segment.
A. particular target market
B. multiple target market
C. combined target market
D. product-market target market
E. specialty targeting
Answer:
Lars Sorenson is a college student who needs to purchase a suit for job interviews. In
the past his father has helped him buy suits. This time, he is the sole decision maker and
is paying for the $450 suit with money he earned at his part-time job. Lars is concerned
about good fit and good value so he visits several stores before making his purchase.
For Lars, this situation seems to be one of:
A. routinized response behavior.
B. low involvement purchasing.
C. extensive problem solving.
D. limited problem solving.
E. adoption purchasing.
Answer:
A complete marketing information system includes each of the following except:
A. data from internal sources.
B. marketing models.
C. decision support systems.
D. a data warehouse.
E. All of these alternatives are correct.
Answer:
Which of the following countries has the highest literacy rate?
A. Finland
B. Egypt
C. Haiti
D. Algeria
E. Libya
Answer:
____ is one of the psychological variables that affects a person's buying behavior.
A. Perception
B. Family
C. Social class
D. Reference groups
E. Convenience
Answer:
Which of the following is a SALES-ORIENTED pricing objective?
A. Growth in market share
B. Target return
C. Nonprice competition
D. Satisfactory profits
E. Meeting competition
Answer:
In a firm that has a total company effort in implementing the marketing concept:
A. There are "fences" around individual departments.
B. Not all departments impact customer satisfaction.
C. The firm lacks a central focus.
D. Departments-even very specialized ones-are guided by what customers want.
E. The firm is more production-oriented than marketing-oriented.
Answer:
Which of the following is NOT an advantage of telephone surveys?
A. They are effective for getting answers to simple questions.
B. They usually can be conducted quite quickly.
C. They are especially good for getting confidential and personal information.
D. Response rates are high.
E. All of these alternatives are advantages of telephone surveys.
Answer:
A firm with a stockturn rate of 5 sells products that cost it $100,000. Its annual
inventory carrying cost is about 20 percent of the inventory value. What is its annual
inventory carrying cost?
A. $5,000
B. $4,000
C. $8,000
D. $20,000
E. $100,000
Answer:
