Good salespeople know the types of reservations buyers are likely to raise.
Answer:
A television ad showing a crowd holding candles and singing “I’d like to teach the
world to sing,” followed by the words “Happy Holidays from your Coca-Cola bottler,”
is an example of reminder advertising.
Answer:
A blog is an example of a thought-sharing site.
Answer:
Marketing is an activity that only large firms with specialized departments can execute.
Answer:
A familiar brand name always helps the sales of a product.
Answer:
Quentin is in a group of 8 to 12 people and is being asked questions by a trained
moderator. Quentin is part of an in-depth interview group.
Answer:
Vladimir decided not to purchase the iPod shuffle because he didn’t think it would hold
all of his songs. Vladimir was using his assessment of the iPod shuffle’s financial risk in
making his decision.
Answer:
BlendMate, a firm that manufactures high-end blenders, donates $10 per blender sold to
a local food bank. This is a form of corporate social responsibility.
Answer:
When a marketer adjusts the marketing mix to give customers a clear, distinctive
understanding of what the product does, the marketer is engaging in psychographic
segmentation.
Answer:
If there is a difference between the message that is sent and the message that is
received, it is probably due to noise.
Answer:
Marketers can introduce ethics at the beginning of the planning phase of the strategic
marketing planning process by including ethical statements in the firm’s mission or
vision statements.
Answer:
The terms external secondary data and syndicated data mean the same thing.
Answer:
Manufacturers, wholesalers, and retailers can all own brands.
Answer:
Garage sales and online classified ads are examples of C2C marketing.
Answer:
The marketing of services differs from the marketing of products because services are
tangible and separable from the service provider.
Answer:
Marketing’s fundamental purpose is to create value by developing a variety of offerings
that will earn income for the company.
Answer:
Retailers who advertise that they sell at wholesale prices are wholesalers.
Answer:
Lisle Hair Company keeps track of the gender and age of its customers so it can target
e-mails to them and be sure to have the right hair products in stock when they visit. This
is an example of the use of demographics in marketing.
Answer:
The key to successful pricing is to match the product with the consumer’s perception of
value.
Answer:
Demographics are transmitted by words, literature, and institutions from generation to
generation.
Answer:
Global expansion often begins when a firm receives an order for its product from
another country.
Answer:
If the marketing communication has piqued the interest of its target market, the goal of
subsequent IMC messages should be to move the consumer from “I want it” to “I like
it.”
Answer:
The components of a SWOT analysis are strengths, weaknesses, opportunities, and
tactics.
Answer:
A product is anything that is of value to a consumer and can be offered through a
voluntary exchange.
Answer:
Proving that a company has engaged in the deceptive bait and switch practice is easy.
Answer:
The objectives of the 4E framework for social media are excite, educate, engage, and
evaluate.
Answer:
When analyzing the immediate environment and the macroenvironment, marketers
must be careful to keep the firm at the center of all analyses.
Answer:
When retailers extend their services to the Internet and become omnichannel retailers,
they are able to satisfy a broader range of customers’ needs and wants.
Answer:
Firms that disingenuously market products or services as environmentally friendly, with
the goal of gaining public approval and sales rather than actually improving the
environment, are engaging in greenwashing.
Answer:
Stakeholders typically include the firm’s employees, customer groups, stockholders, and
members of the community in which the firm operates.
Answer:
If a U.S. clothing brand buys from overseas suppliers who manufacture clothing using
child labor, this is the supplier’s problem, and the U.S. company has no reason to be
concerned.
Answer:
The cost of communicating directly with a potential customer is low compared with
other forms of promotion.
Answer:
Successful firms focus their efforts on satisfying customer needs that match their core
competencies.
Answer:
Brazil is characterized by strong upper and lower classes, but the middle class has
declined in recent years.
Answer:
One significant potential benefit of the Internet channel is its ability to enable retailers
to provide personalized offerings and services for each customer.
Answer:
The computer-to-computer exchange of business documents from a retailer to a vendor
and back is referred to as vendor-managed inventory (VMI).
Answer:
Test marketing refers to customers who modify existing products according to their own
ideas to suit their specific needs.
Answer:
Even if products succeed, not all consumers adopt new-to-the-world products at the
same time.
Answer:
YouTube is an example of which type of social media site?
A. microblogging
B. media sharing
C. thought sharing
D. social networking
E. social bookmarking
Answer:
________ training is excellent for communicating selling and negotiation skills,
because managers can observe the sales trainees in real selling situations and provide
instant feedback.
A. Role-play
B. Internet-based
C. Simulation
D. On-the-job
E. Distance learning
Answer:
How is the cost to companies and entrepreneurs using Google Analytics calculated?
A. a few cents per 100 hits
B. correlation to conversion rates of website
C. flat fee
D. free for individuals; corporate rates based on usage
E. free for everyone
Answer:
Private-label brands are developed and managed by
A. manufacturers.
B. wholesalers.
C. supply chain specialists.
D. manufacturer’s representatives.
E. retailers.
Answer:
One difficulty associated with using advertising as part of a marketer’s IMC efforts is
A. it is hard to break through the clutter of other messages targeted for the same
audience.
B. it is more expensive than personal selling.
C. it works only when communicating to the most uninformed consumers.
D. government regulations have significantly decreased allowable advertising
frequencies.
E. it is considered old-fashioned by many younger consumers.
Answer:
Firms achieve ___________ through efficient procedures and excellent supply chain
management.
A. customer excellence
B. locational excellence
C. customer loyalty
D. value-based pricing
E. operational excellence
Answer:
Some banks have begun offering special accounts designed to attract junior high school
students. These kids save in such small amounts that the accounts cost banks more to
maintain than they are worth. But bankers know that consumers are creatures of habit
and hope that the young people they serve now will become adult customers. These
banks recognize
A. that operational excellence is an important macro strategy.
B. the lifetime value of customers.
C. that product excellence leads to loyal customers.
D. the importance of making decisions based on short-term results.
E. that as long as customers bring in some revenue, costs do not matter.
Answer:
Flora is frustrated with her company’s supply chain management information system.
She wants to be able to receive sales data, initiate purchase orders, send and receive
invoices and receive returned merchandise documentation. Flora needs a(n)
A. cross-docking exchange.
B. electronic data interchange system.
C. vendor-managed inventory system.
D. vertical conflict reduction system.
E. radio frequency identification system.
Answer:
Zappos.com constantly reminds customers of recently viewed items and informs them
when stock is low in an effort to entice the customer to make a purchase. Zappos is
trying to improve its
A. conversion rate.
B. collection ratio.
C. consumer index.
D. customer total.
E. culture quotient.
Answer:
For many years, Southwest Airlines distinguished itself as the low-cost airline. Now,
many other low-cost competitors have entered the market. Similarly, Southwest was
one of the first airlines to offer online ticketing. Now, all airlines have online ticketing.
These examples suggest that
A. no single strategy is likely to be sufficient to build a sustainable competitive
advantage.
B. a situation analysis does not accurately predict a firm’s strengths.
C. customer excellence cannot be achieved.
D. product excellence is the only true source of a sustainable competitive advantage.
E. innovation is pointless because competitors will develop copycat offerings.
Answer:
By changing a standard from “be nice to customers” to “greet every customer, and if
possible by name,” a services marketing manager has created a(n) __________ goal.
A. insurmountable
B. invisible
C. empowerment
D. measurable
E. inseparable
Answer:
The greater the discrepancy between a consumer’s needy state and the desired state, the
greater
A. time needed to satisfy the need.
B. the effort consumers will invest in searching for alternatives.
C. the consumer’s need recognition will be.
D. the size of the universal set will be.
E. the amount of external information search will be needed.
Answer:
In a(n) __________ situation, the buyer has purchased a similar product in the past but
has decided to change some specifications.
A. new buy
B. modified rebuy
C. straight rebuy
D. adapted buy
E. generic buy
Answer:
The difference between a firm’s immediate marketing environment and its
macroenvironment is that the macroenvironment
A. is external.
B. is easier to understand.
C. is easier to control.
D. has fewer components.
E. is internal.
Answer:
Cory is working on a global marketing assessment team looking out well into the future
to help determine the most attractive market areas around the world. He is evaluating
market sizes and growth rates. Based on population growth rates in different regions, he
should consider that
A. countries with high purchasing power today may not continue to show the same
growth in the future.
B. the United States and Western Europe will have dramatic increases in population
growth leading to overcrowding.
C. the middle class in India will continue to shrink as the rich get richer and the poor
get poorer.
D. in places like India, urban population centers will become increasingly unattractive
and the rural areas will experience major growth in population.
E. the global population is expected to grow at staggering rates indefinitely.
Answer:
In the case of Band-Aid adhesive bandages, the brand name has
A. successfully employed private-label branding.
B. distinctive brand substitutability.
C. grown through private-label branding.
D. become synonymous with the product itself.
E. avoided brand extensions.
Answer:
3M involves its customers in the process of developing new products. In this way, it can
benefit from current customers’ insights and develop new products that will meet these
customers’ needs. 3M is pursuing a __________ growth strategy.
A. diversification
B. market development
C. market penetration
D. product development
E. product penetration
Answer:
Gene’s Complete Cameras offers its customers an interactive website to help them
choose the best camera for their lifestyle. But the site’s most-used feature is its user blog
in which customersboth satisfied and unsatisfiedtalk about products they have
purchased and the service received at Gene’s. The user blog best describes which of the
4E frameworks for the store’s customers?
A. engage
B. energize
C. excite
D. experience
E. educate
Answer:
In most large organizations, several people are responsible for making a purchase
decision. This group is called the
A. supply chain.
B. reselling team.
C. decider group.
D. buying center.
E. expediters.
Answer:
Trey sells consumer electronics. He knows his customers weigh the costs versus the
benefits associated with the different options available. He decides which products to
offer and what prices to charge based on the way his customers think. Trey operates as
if he were in the __________ era.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
Answer:
A restaurant chain is working on improving the quality of its food and service. To track
its progress it recruits customers who agree to respond to customer satisfaction surveys
once every three months over the next two years. What kind of data is the restaurant
chain collecting?
A. panel data
B. internal secondary data
C. focus group data
D. external secondary data
E. scanner data
Answer:
In the United States, the regulation of advertising involves a complex mix of laws and
informal restrictions designed to
A. protect consumers from deceptive practices.
B. stimulate domestic demand.
C. reduce international competition.
D. promote social marketing.
E. institutionalize pull strategies.
Answer:
In the communication process, the __________ is the medium that carries the message.
A. feedback loop
B. sender
C. transmitter
D. communication channel
E. receiver
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:
The greater the discrepancy between a consumer’s __________, the greater the
consumer’s need recognition will be.
A. financial risk and performance risk
B. search for alternatives and alternatives found
C. needy state and desired state
D. universal set and evoked set
E. external and internal information search
Answer:
There are five types of risks associated with purchase decisions. Which of the following
best describes a situation where your new car stalls in the middle of a busy intersection?
A. physiological risk
B. social risk
C. financial risk
D. functional risk
E. psychological risk
Answer:
Political consultants have been using marketing research for decades to help their
candidates understand
A. who makes up the voting public and how to reach them.
B. what ethical lapses they can get away with.
C. which consumers spend the most money.
D. how large their campaign signs should be.
E. how to buy the votes they need.
Answer:
Caroline needs to find information about income and age distribution in Orange County,
California. The best source of secondary research of use to Caroline is likely to be
A. door-to-door surveys.
B. focus group interviews.
C. syndicated data.
D. sales invoices at public libraries.
E. U.S. Census data.
Answer:
A _______ strategy involves accurately measuring all the factors needed to predict sales
and profits at various price levels, so that the price level that produces the highest return
can be chosen.
A. sales orientation
B. target profit
C. target return
D. status quo
E. maximizing profits
Answer:
During the research design step of the marketing research process, researchers identify
the type of data needed and
A. the statistical software to be used.
B. the dates when data will be collected.
C. the forum in which the data will be presented.
D. the identities of research participants in the project.
E. the type of research necessary to collect the data.
Answer:
When Cynthia’s Boutique receives dresses, they already have price tags and are on
hangers. Cynthia’s Boutique receives __________ merchandise.
A. floor-ready
B. repurposed
C. just-in-time
D. quick response
E. horizontal channel
Answer:
Sally is in the new marketing department of a midsized lawn and garden company. She
is working on the first marketing plan the firm has ever used. She has defined the
mission and objectives, and she just finished a situation analysis for the firm. The next
step is to
A. develop an advertising plan to promote the upcoming sales.
B. find marketing interns or hire new staff to help with implementation.
C. create pro forma financial statements to complete the package.
D. identify and evaluate opportunities by conducting segmentation, targeting, and
positioning analysis.
E. use the Internet, catalogs, and vendor information to draw up a list of new products.
Answer:
The value of a brand is often calculated by assessing the
A. difference between brand equity and brand liability.
B. corporate profitability divided by the monthly brand earnings.
C. earning potential of the brand over the next 12 months.
D. effect of brand dilution if it occurred.
E. average product line depth.
Answer:
Joanna lives according to her own rules, unconcerned about designer labels, brand
names, and luxury items. Joanna is at which level in Maslow’s Hierarchy of Needs?
A. self-actualization
B. safety
C. love
D. esteem
E. physiological
Answer:
An Internet site whose purpose is to be a major starting point for users when they
connect to the web and is often used by smaller companies in the RFP process is
referred to as a(n)
A. podcast.
B. Internet channel.
C. web portal.
D. buying center.
E. search engine.
Answer:
How has the relationship between manufacturers and retailers changed?
Answer:
Funeral home businesses were recently criticized for accepting payments from medical
parts companies for assisting medical parts companies in finding families who would
allow materials to be harvested from deceased family members. Though not illegal, the
payments raised ethical questions. How should the funeral industry go about addressing
these questions?
Answer:
What basic rule should be used in creating sales evaluation criteria?
Answer:
Marketers in the United States are learning that Hispanic and other minority groups are
not alike. How do cultural differences affect purchase decisions? What can be said
about the buying power of Hispanics?
Answer:
As a business-to-business marketer, would you prefer to market to a firm with an
autocratic or a consensus buying center culture, and why?
Answer:
Warren is debating between spending the money needed to hire a sales force and using
advertising and promotion to sell his products. What benefits of hiring a sales force will
Warren weigh in his decision?
Answer:
Explain the concepts of emotional support and instrumental support. When are they
important?
Answer:
Which of the segmentation attractiveness criteria is assumed by the statement, “Build it,
and they will come”?
Answer:
Strong brands can reduce marketing costs. How do they accomplish that?
Answer:
What is the difference between a trade deficit and a trade surplus? If a firm wants to
manufacture in another country, which of these trade situations would it prefer?
Answer:
A media rep from the local radio station comes into your retail store and suggests
running a series of advertisements. She says, “Let’s do it and see what happens.” What
problems can you anticipate with this as the suggested goal?
Answer:
Define convenience, shopping, and unsought products and give an example of each.
Answer:
In approximately 2006, hybrid cars moved from the early adopter to the early majority
stage. What did this mean for marketers of hybrid cars?
Answer:
What are consumers likely to do if they perceive an inexpensive brand to have about the
same quality as a premium brand?
Answer:
Of what use is a sustainable competitive advantage to a firm?
Answer:
Developing a good pricing strategy is essential to the financial well-being of a firm.
Even though a firm has an excellent strategy, what are continuing threats to the
strategy?
Answer:
Almost every business wants brand-loyal customers. Why?
Answer:
Trent is creating a sales force for his new hydrogen-powered vehicles company. What
questions will Trent will need to address when creating a sales force?
Answer: