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Suppose 100 million people consume black tea every year, and an average consumer
consumes 8 kgs of tea at an average price of $3 per kg. Compute the total market
potential for tea.
As people in developing countries often prefer to buy in smaller quantities, ________ is
one of the most important functions of intermediaries in developing countries and helps
perpetuate the long channels of distribution, which are a major obstacle to the
expansion of retailing.
A) product adaptation
B) breaking bulk
C) diversification
D) transfer pricing
E) dual adaptation
The marketing manager needs to know the cost of the research project before approving
it. During which stage of the marketing research process would such a consideration
most likely take place?
A) defining the problem
B) analyzing the information
C) drafting the report
D) developing the research plan
E) collecting information
Which of the following is an example of a limited-service retailer?
A) Customers at TAB pick out the products they want and pay at the checkout counter.
B) Salespeople at Eli are always on hand to offer shoppers advice and assistance in
choosing products.
C) Mina's allows customers to checkout their own purchases in order to reduce the staff
count.
D) As CLO's offers a number of merchandise-return privileges, customers need
information and assistance while shopping.
E) Alison's stocks a number of specialty products and the store's salespeople generally
help shoppers with all their needs.
________ data are data that were collected for another purpose and already exist.
A) Primary
B) Secondary
C) Primitive
D) Cross-sectional
E) Ordinate
Maria considers buying a car for herself, after she notices the advantages experienced
by her best friend from his new car. Which of the following forms of stimulus has
activated Maria's problem recognition process?
A) external stimuli
B) internal stimuli
C) peer stimuli
D) secondary stimuli
E) marketing induced stimuli
Which of the following marketing communications tools has the highest
cost-effectiveness in the introduction stage of the product life cycle?
A) personal selling
B) sales promotion
C) interactive marketing
D) direct marketing
E) events and experiences
In which of the following modes of licensing does the firm hire local producers to
produce the product, giving the company less control over the manufacturing process?
A) contract manufacturing
B) management contracts
C) direct investment
D) joint venture production
E) greenfield venturing
In your neighborhood there is a small men's store that has a limited selection of
clothing, but the selection that is carried is of very high quality and price. Services
include free alterations and tailoring, personalized recordkeeping, and free dry cleaning.
Inside the store are deep leather chairs and couches and thick pile carpet. Upon entering
the store, a customer feels 'special and rich." In terms of differentiation, what is this
retailer trying to communicate by its decorations and service level?
A) differentiation based on services mix and atmosphere
B) differentiation based on prepurchase services
C) differentiation based on postpurchase services and atmosphere
D) differentiation based on ancillary services and atmosphere
E) differentiation based on prepurchase and postpurchase services
The rapid diffusion of multipurpose smart phones, broadband and wireless Internet
connections, and ad-skipping digital video recorders (DVRs) have augmented the
effectiveness of the mass media.
Maria is flagged as a special customer at your firm because she is a satisfied customer,
returns to your company to buy, puts her reputation on the line to tell others about you,
and convinces others to purchase from you, which suggests she is on the ________ rung
of the loyalty ladder.
A) word of mouth/buzz
B) repeat purchase
C) satisfaction
D) evangelism
E) ownership
A customer touch point for Abacus Airlines would be an item such as ________.
A) ease of access to the airport
B) a mechanic's ability to service the airplanes
C) the reservations desk
D) the value of air travel versus surface transportation
E) competency of a travel agent
With the ________ heuristic, the consumer sets a minimum acceptable cutoff level for
each attribute and chooses the first alternative that meets the minimum standard for all
attributes.
A) conjunctive
B) lexicographic
C) elimination-by-aspects
D) primary
E) secondary
If a marketing researcher uses such names or categories as Blue Blood Estates, Winner's
Circle, Hometown Retired, or Shotguns and Pickups, when doing segmentation
research, the marketing researcher is using ________ clusters.
A) PRIZM
B) behavioral
C) psychographic
D) demographic
E) VALS
Which of the following problems is most likely when a company chooses to use a sales
agency instead of company salespeople?
A) The company will find it difficult to control the sales process.
B) They do not take title to goods or negotiate purchases or sales.
C) The value-added per sale is the lowest for sales agencies.
D) Agencies will pay less attention to customers who buy the most or in large volumes.
E) Sales agencies are often difficult to access due to strict contractual obligations.
When the marketers of a mobile phone manufacturing company want to determine the
impact of individual media such as television and online display ads on sales as well as
that of trade activities like every day low price, off-shelf display and so on, they usually
use ________.
A) marketing metrics
B) market segmentation strategies
C) market capitalization techniques
D) market basket analysis
E) marketing-mix models
During a recession, the market demand curve, which is a function of marketing
expenditure, ________.
A) shifts upward
B) becomes vertical
C) remains unaffected
D) shifts downward
E) slopes downward
Which of the following is an example of a problem question?
A) What system are you using to invoice your customers?
B) How does this problem affect your people's productivity?
C) What parts of the system create errors?
D) How much would you save if our company could help reduce errors by 80 percent?
E) Which operating system have you installed in your personal computer?
Identify the correct statement about marketing management.
A) It is primarily concerned with the systematic gathering, recording, and analysis of
data about issues related to marketing products and services.
B) It focuses mostly on monitoring the profitability of a company's products and
services.
C) It focuses solely on attaining an organization's sales goals in an efficient manner.
D) It is defined as the field that deals with planning and managing a business at the
highest level of corporate hierarchy.
E) It occurs when at least one party to a potential exchange thinks about the means of
achieving desired responses from other parties.
Social classes differ in media preferences, with upper-class consumers often preferring
________ and lower-class consumers often preferring television.
A) movies
B) radio
C) video or computer games
D) magazines and books
E) music downloads
Which of the following can be considered a primary activity in the value chain process?
A) procurement
B) human resource management
C) technology development
D) inbound logistics
E) firm infrastructure
The process of deciding how to allocate company's time among prospects and
customers is called ________.
A) targeting
B) prospecting
C) allocating
D) dispersing
E) delegating
________ is a slowdown in sales growth because the product has achieved acceptance
by most potential buyers.
A) Obsolescence
B) Introduction
C) Growth
D) Decline
E) Maturity
The ________ is the channel from raw materials to components to final products that
are carried to final buyers.
A) communication channel
B) distribution channel
C) supply chain
D) service chain
E) marketing chain
When the physical product cannot be easily differentiated, the key to competitive
success may lie in adding valued services and improving their quality. The main service
differentiators are ordering ease, delivery, installation, ________, customer consulting,
maintenance, and repair.
A) technology intensity
B) responsiveness
C) ease of use
D) customer training
E) adaptability
Bella's Inc. has estimated the demand and costs associated with alternative prices. It has
finally chosen to price its new offering in such a way that it will maximize the rate of
return on investment. What can be deduced about the company's objective?
Give an example of how a company might target products to children in an ethical way.
What are the relative advantages of online and in-person focus groups?
Dormentor Inc. produces, converts, and markets packaging products including
boxboard, container board, and numerous other specialty packaging products. In an
attempt to increase its organic growth, the company decides to introduce new products.
It asks the managers and employees to send in ideas for new products. Before launching
products based on any of these ideas, what are the stages that the company has to go
through?
PRIZM was developed by Claritas Inc. What was the purpose of PRIZM?
What are the two most trusted sources of brand information?
What is brand personality and what are the five traits that have been linked to it?
Identify five general strategies for growth.
Give an example of a pure service provided by a company.
