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Television advertising has recently expanded to include "mini-ads," which are short ads
lasting 5 to 10 seconds. These ads are most useful in advertising to men, since men are
more likely than women to channel surf during commercial breaks. Given this fact, this
type of advertising will be more useful to marketers engaged in __________
segmentation.
A. demographic
B. psychographic
C. behavioral
D. benefits
E. geographic
Answer:
Traditionally, marketers have seen the role of __________ as generating short-term
results, whereas the goal of __________ was to lead to long-term results.
A. public relations; institutional advertising
B. advertising; personal selling
C. sales promotion; advertising
D. advertising; public relations
E. corporate blogs; public relations
Answer:
Benton manages a building supply company. He wants to invite 20 of his most valuable
building-contractor customers to a golf outing and party. Benton will likely use the
firm's ___________ to identify these customers.
A. website
B. CRM database
C. specialty store sales
D. annual sales report
E. inventory management system
Answer:
If there is a difference between the firm's perceptions of customers' expectations and the
service standards the firm has set, a __________ gap exists.
A. seniority
B. knowledge
C. standards
D. delivery
E. communication
Answer:
Data collection begins
A. only after completing the research design process.
B. after determining whether there are any objections.
C. whenever the researcher wants to.
D. after creating the presentation format.
E. after analyzing the data.
Answer:
Walmart's "Everyday low prices" selling proposition is effective primarily because it is
A. unique to the industry.
B. meaningful to the consumer.
C. variable over time.
D. a one-time message.
E. generally unsustainable.
Answer:
Annabeth is looking for a Michael Kors chronograph watch, and assumes she can view
and try them on at Macy's. She makes a special trip to the store to look at the watches,
and selects the style she likes best. Which aspect of choosing a retail partner allowed
Annabeth to confidently shop for this item at a particular store?
A. channel structure
B. customer expectations
C. channel characteristics
D. distribution intensity
E. vertical integration of channel
Answer:
Janelle is shopping for a unique outfit for a benefit dinner dance. She wants it to sparkle
and shine, but still feel light, silky, and comfortable. For the highest satisfaction, Janelle
likely should
A. shop via catalog.
B. shop in traditional retail stores.
C. start browsing the Internet.
D. use M-commerce.
E. price match multiple competitors.
Answer:
Dan is especially price sensitive. He has been known to line up on "Black Friday" (the
day after Thanksgiving) at 4 a.m. to be among the first to buy sale items. Dan would
likely respond to a _______ pricing strategy.
A. high/low
B. premium
C. price skimming
D. slotting
E. uniform
Answer:
When a company launches a new product line with an existing brand name, this is
known as
A. a brand extension.
B. a line extension.
C. a multi-brand.
D. a new brand.
E. co-branding.
Answer:
One of the benefits of a differentiated targeting strategy is that it allows the firm to
diversify its business and
A. decrease advertising spending.
B. focus on a single market segment.
C. lower overall risk.
D. use undifferentiated strategies in micro markets.
E. more widely market basic commodities.
Answer:
The diffusion of innovation theory is useful to marketers in helping them
A. adjust to the performance life cycle.
B. avoid the cost of concept testing.
C. predict which types of customers will buy their product immediately and later.
D. predict how long it will take for a new product to gain market acceptance.
E. determine a target market.
Answer:
Which of the following is the best way to build a sustainable competitive advantage
using product excellence?
A. being the first to offer customers desired features, even if competitors can copy them
easily
B. positioning the product using a clear, distinctive brand image
C. having the most features on each model
D. focusing on being cutting edge and continually eliminating older features that are
still in use by customers
E. copying the market leader's features, but at a lower cost
Answer:
While waiting in line to make a purchase at Best Buy, Joanie sees signs reminding her
to visit the company's website for online specials and to sign up on her smartphone for
the Best Buy Loyalty Rewards Program. Others signs remind her that Best Buy will
match competitors' prices on any item they sell. This is an example of which 4E
framework?
A. engage
B. energize
C. excite
D. experience
E. educate
Answer:
__________ is the term used to describe the situation when retailers use some
combination of stores, catalogs, and the Internet to sell merchandise.
A. Vertical channel integration
B. Cross-channel leverage
C. Horizontal channel integration
D. Omnichannel retailing
E. Opportunistic retailing
Answer:
If the price for a product increases, the demand for the complementary product will
A. decrease.
B. increase.
C. stay the same.
D. become more elastic.
E. become more inelastic.
Answer:
Chesnee works in the office of a building materials company. One of her jobs is to
identify new building projects and to determine who will make the building materials
purchase decisions. Chesnee is involved in the _______________ step of the selling
process.
A. generate leads
B. preapproach
C. closing the sale
D. follow-up
E. sales presentation
Answer:
Charlie is hoping to get a chance to bid on supplying key components to Ned's business.
He is eager to move forward, but he must wait until
A. Ned completes vendor negotiations.
B. Ned develops a list of product specifications.
C. Ned's buying center has an opening.
D. Ned agrees to move Charlie's firm from the evoked set to the retrieval set.
E. Ned completes the order specification process.
Answer:
The manager of a company selling cellular phones in rural U.S. markets asks you to
conduct survey research into the question, What percentage of people in Kansas live in
communities of less than 10,000 people? The problem with this research objective is
that
A. it is irrelevant to the cellular company.
B. it is already known and available from the U.S. Census Bureau.
C. it will lead to a set of unstructured questions.
D. it is a research question that probably cannot be answered with any level of accuracy.
E. it is too expensive to determine the answer.
Answer:
Whether or not a salesperson will go through all five steps of the selling process
depends on the sales situation and
A. the use of sales representatives versus independent reps.
B. the effectiveness of role playing.
C. the buyer's readiness to purchase.
D. the number of sales support personnel available.
E. how the person was trained.
Answer:
Jami is managing an extended advertising campaign for a local convenience store chain.
The campaign includes a series of television, radio, and print messages. As part of
monitoring the campaign, which of the following offers a good indicator of advertising
effectiveness?
A. the cost of the media buy
B. past economic conditions
C. planned store expansions in similar markets
D. new advertising concepts
E. the daily and weekly sales volume
Answer:
Many teenagers, both male and female, have clothes they purchased in the past that
they "would not be caught dead in" today. When they occasionally see those clothes
hanging in the back of their closet, these teenagers probably feel
A. cognitive bias.
B. postpurchase cognitive dissonance.
C. psychological risk.
D. need recognition.
E. physiological risk.
Answer:
Yellow Trucking provides transportation services for Dan's Delicious Donuts so that
Dan's stores always have fresh stock. Yellow Trucking is an example of a
A. cultural cohort.
B. corporate partner.
C. cartel.
D. cooperative.
E. customer.
Answer:
Alicia has been asked to approve a marketing campaign that, although it is not illegal,
promotes food products to children. She is concerned that the food products are not
particularly nutritious, although they are not as bad for children as some others sold by
competitors. By using the ethical decision-making metric, Alicia will
A. ignore the metric as unworkable, since the campaign might pass some of the tests
and fail others.
B. consider the profit potential first; then explore the vague tests in the metric.
C. not worry about the children; their parents are likely to make the buying decision,
and they should be able to decide for themselves.
D. evaluate the alternative using a series of questions.
E. consult the firm's code of ethics for guidance and leave personal ethical
considerations out of the decision-making process.
Answer:
Which type of store is small and offers a limited merchandise assortment at very low
prices?
A. specialty stores
B. extreme value retailers
C. outlet stores
D. limited assortment supermarkets
E. convenience stores
Answer:
__________ is the process by which ideas are transformed into new products and
services that will help firms grow.
A. Beta testing
B. Concept testing
C. Innovation
D. Reverse engineering
E. Competition
Answer:
Craig sees that his company's quarterly sales and profits are significantly above
projections and says, "That's great. Let's keep doing what we've been doing." Craig is
ignoring the __________ step of the marketing planning process.
A. evaluate performance
B. define the business mission
C. perform situation analysis
D. implement marketing mix and resources
E. identify and evaluate opportunities
Answer:
When Joe's Chicken Shack wants chicken delivered in smaller batches more frequently,
it offers its distributors an incentive in the form of special bonuses to change their
schedules. Joe's demonstrates which kind of power?
A. coercive
B. reward
C. referent
D. expertise
E. information
Answer:
A(n) ___________ is a group of products that consumers may use together or perceive
as similar in some way.
A. SBU
B. STP
C. product line
D. market segment
E. promotional service
Answer:
Garrett has just purchased a beer distributorship. He wants to increase the visibility of
his firm in local markets, but he knows there are a number of regulations and socially
accepted practices associated with promoting alcoholic beverages. According to the
framework for ethical decision making, the first thing Garrett should do is to
A. identify issues that need to be addressed.
B. promote the firm's corporate social responsibility efforts.
C. gather information and identify stakeholders.
D. brainstorm alternatives.
E. choose a course of action.
Answer:
How is consumer panel data collected during the test marketing phase of a new product
introduction?
A. Panelists complete a questionnaire about the product.
B. Panelists scan their receipts on a home scanning device.
C. Stores provide sales data to companies.
D. Consumers voluntarily go to a website to record their preferences.
E. Focus groups are held in key markets.
Answer:
Baby Boomers represent a tremendous opportunity for today's marketers. Who are the
Baby Boomers? Based on their age, what might be some products that they would be
interested in?
Answer:
Respond to the statement "Create or die" from a new product innovation perspective.
Answer:
When looking to purchase a mobile phone, describe the components that make up the
total product.
Answer:
Robin carefully studies her options before buying new products. She enjoys new things,
especially electronic games, and is very knowledgeable about them. Other people often
ask her opinion. In the diffusion of innovation curve, which category does Robin fit in?
Answer:
Describe a typical user of LinkedIn, as well as the kinds of activities he or she will
participate in as an active user.
Answer:
Harry's Industrial Supply Company has always used cost-based pricing. Harry's
son-in-law is joining the business and recommends they change to value-based pricing.
Harry enumerates the disadvantages of value-based pricing, while his son-in-law points
out the advantages. What will each of them say?
Answer:
Small-business consultants are constantly admonishing would-be entrepreneurs,
"Beware of the overhead." Using an overhead of $100,000 and then an overhead of
$200,000, with a contribution per unit of $50, determine the break-even points.
Answer:
What is the major advantage of primary data collection, compared to the use of
secondary data?
Answer:
Chesnee is analyzing census data, looking for demographic segments that she can target
for her new insurance products. For Chesnee, what are the advantages of using census
data?
Answer:
Marketing is a dynamic practice. While you are watching your competitors, they are
watching you. Assume that you have just redesigned a product that is in the maturity
phase of the product life cycle and have identified some new market segments. How do
you think your competitors will respond?
Answer:
The three-stage process that firms use to engage customers through social mobile media
involves listening, analyzing, and correcting.
Answer:
Which of the segmentation attractiveness criteria is addressed when Magnolia Caf asks
the question, "Are there enough employees in the government center to justify targeting
the center for lunch delivery service?"
Answer:
After a series of embarrassing and unprofessional actions by her marketing team, Ming
wants to ethically align personal and corporate goals within her firm. What general and
specific actions will she need to take?
Answer:
Name three kinds of food retailers and five kind of general merchandise retailers.
Answer:
Why is the IKEA store in France not open on Sundays? Why is this important to a
marketer?
Answer:
Segmentation, targeting, and positioning involve a number of processes, many
decisions and many different options. With all that effort, why are marketers so
concerned with STP?
Answer:
What is an advantage of using a selling team?
Answer:
On weekends, Everett often finds himself thinking about his customers and their
problems. Sometimes Everett will figure out a potential solution and e-mail or call his
customer. What personal trait does Everett have that is important to sales success?
Answer:
Carol manages a cell phone store and is debating how much personal selling and
customer service she should utilize as part of her promotion strategy. What would you
recommend and why?
Answer:
What do the following brands have in common: Scotch tape, Kleenex tissues, and
Xerox copiers?
Answer:
