VALS Framework
VALS creates profiles of people based on their primary motivation and resources. In the
VALS framework above, B refers to
A. Ideals.
B. Achievement.
C. Self-Expression.
D. Survivors.
E. Innovators.
Answer:
The practice of using information provided by cookies for directing online advertising
from marketers to those online shoppers whose behavioral profiles suggest they would
be interested in such advertising is referred to as
A. viral marketing.
B. buzz.
C. data mining.
D. behavioral targeting.
E. spyware.
Answer:
The time a product can be stored before it spoils is referred to as its __________.
A. product life cycle
B. use-by date
C. spoilage index
D. shelf life
E. expiration date
Answer:
A target market refers to
A. people who could purchase a product regardless of who ultimately uses it.
B. one or more specific groups of potential consumers toward which an organization
directs its marketing program.
C. former customers who now use competitors’ products.
D. the cluster of benefits that an organization develops to satisfy consumers’ needs.
E. people with both the desire and the ability to buy a specific offering.
Answer:
Proctor and Gamble repositioned its Old Spice anti-perspirant brand from a deodorant
your grandfather might use to a strong, hip anti-perspirant through commercials that
showed the target market of 18- to 30-year-old men advocating its use. P&G used this
product repositioning strategy with its Old Spice brand anti-perspirant to __________.
A. react to a competitor’s position
B. catch a rising trend
C. change the value offered
D. diversify its product portfolio
E. reach a new market
Answer:
According to Lindsey Smith of GE Healthcare, all of the following are necessary for a
successful sales career EXCEPT:
A. motivation.
B. compensation.
C. team orientation.
D. integrity.
E. trust.
Answer:
A sales technique whereby complementary products are presented to a customer after
the customer has demonstrated a desire and willingness to purchase a particular product
is referred to as a __________.
A. formula selling presentation
B. stimulus-response presentation
C. stimulus-satisfaction presentation
D. stimulus-selling presentation
E. suggestive selling
Answer:
A sales quota contains goals, such as sales produced, accounts generated, profit
achieved, or
A. sales of specific products.
B. new clients contacted.
C. reports filed.
D. complaints received.
E. customer enquiries.
Answer:
A local university offers business courses for a target market of people who currently
work and want to take refresher courses for certification in their business field
(marketing, accounting, etc.). Which of the following would be the most effective way
to communicate with the target market, bearing in mind that communication must be
both effective and economical?
A. put announcements on campus bulletin boards
B. distribute promotional materials during classes
C. advertise on national television
D. advertise on local hip-hop radio shows
E. advertise in the local newspaper
Answer:
Which type of distribution lies between the two distribution extremes, combining some
market coverage benefits and some control over resale?
A. intensive distribution
B. discriminate distribution
C. exclusive distribution
D. selective distribution
E. concentrated distribution
Answer:
Several marketing data services provide information on household demographics and
lifestyle, purchases, TV viewing behavior, etc. The principle advantage of these services
is that
A. one service can collect, analyze, interrelate, and present this information.
B. all data collection and analysis is computerized, so the results obtained are almost
instantaneous.
C. members of the firm can be included in the analysis of data, making the results more
reliable.
D. the service gets paid on a percentage basis; the better the information, the higher the
fee.
E. firms using these services get discounts if they share their customer data with
competitors.
Answer:
What type of organization is the U.S. Forest Service, which manages our national park
system?
A. It is a privately owned firm.
B. It is a government agency service provider.
C. It is a good-dominate organization on the service continuum.
D. It is manufacturer’s agency.
E. It is a regional non-profit.
Answer:
An organization’s foundation includes all of the following EXCEPT:
A. organizational culture.
B. business definition.
C. vision.
D. core values.
E. mission.
Answer:
The third step in the sequential process of building brand equity is to __________.
A. develop positive brand awareness
B. establish a brand’s meaning in the minds of consumers
C. elicit the proper consumer responses to a brand’s identity and meaning
D. create a consumer-brand connection
E. reward loyal customer behavior
Answer:
Which of the following is the best example of a people-based service?
A. movie theaters
B. airlines
C. accounting
D. vending machines
E. taxis
Answer:
Which of the following is an example of a Tiffany/Walmart strategy?
A. College Football magazine selects different covers for essentially the same magazine
in order to appeal to different geographic markets in the U.S.
B. A new movie used several different movie trailers; one showed the action scenes in
order to attract one audience and the other showed romantic scenes to attract another
audience.
C. Arm and Hammer Baking Soda can be used for baking and to remove odors from
refrigerators and litter boxes.
D. Gap’s Banana Republic chain sells blue jeans for $58, whereas its Old Navy stores
sell a slightly different version for $22.
E. Johnson’s Baby Oil is advertised as a skin softener for babies and as a makeup
remover for women.
Answer:
A(n) __________ scale is one in which the respondent indicates the extent to which he
or she agrees or disagrees with a statement.
A. Likert
B. attitudinal
C. dichotomous
D. open-ended
E. semantic differential
Answer:
Pharmaceutical companies sell some of their products to hospitals and clinics directly.
They also market other products to large retail chains like Walgreens that distribute
them to their stores across the nation. In addition, they sell products to drug wholesalers
that sell to the remaining independent drugstores in the U.S. What method of
distribution best describes the method used by pharmaceutical companies in this
example?
A. dual distribution
B. vertical distribution
C. horizontal distribution
D. direct distribution
E. exclusive distribution
Answer:
Sherrie sold about $800 worth of produce last weekend at a Farmer’s Market, but it was
sunny and warm both days. This Saturday and Sunday are both supposed to be rainy, so
she thinks fewer people will attend. She estimates she’ll only sell about 3/4 of her total
for last time, or $600. This is an example of a(n)
A. direct forecast
B. lost-horse forecast
C. lost-cause forecast
D. indirect forecast
E. incremental forecast
Answer:
Involvement refers to
A. the external influences that affect a consumer’s purchase.
B. the personal, social, and economic significance of the purchase to the consumer.
C. the level of difficulty involved in making a purchase.
D. the total number of people involved in the actual exchange process.
E. the time, energy, and personal investment that will be required to use a product.
Answer:
Which of the following is a disadvantage associated with licensing?
A. The licensee pays lower wages and sells at lower prices.
B. The licensor may create its own competition.
C. The foreign government dislikes it because it does not increase local employment.
D. This is the most expensive and risky method for global expansion.
E. The firm’s brand does not get international exposure.
Answer:
With a __________, a salesperson is paid a fixed fee per week, month, or year.
A. sales response compensation plan
B. combination compensation plan
C. straight salary compensation plan
D. straight commission compensation plan
E. market share compensation plan
Answer:
When Daniel was hired to work for Bush Refrigeration Company, he was told, “The
sales training program is 18 weeks, and we’ll pay you $750 per week during that time.”
While in training, the company used a __________ to compensate Daniel for his time
and effort.
A. sales response compensation plan
B. combination compensation plan
C. straight salary compensation plan
D. straight commission compensation plan
E. market share compensation plan
Answer:
There are three degrees of distribution – one of these being intensive distribution. What
is the extreme opposite of this degree of density?
A. exhaustive distribution
B. thorough distribution
C. selective distribution
D. concentrated distribution
E. exclusive distribution
Answer:
Experts suggest that online retailers should think of their websites as __________ if
they are to attract and retain customers.
A. cash cows
B. dynamic billboards
C. virtual reality stores
D. traditional retail stores
E. online entertainment
Answer:
Obtaining primary and secondary data would take place during which stage of the
five-step marketing research approach?
A. define the problem
B. develop the research plan
C. collect relevant information
D. develop findings
E. take marketing actions
Answer:
Merchant wholesalers are independently owned firms that __________ the merchandise
they handle.
A. take title to
B. broker
C. break bulk and repackage
D. do not deliver
E. act as agents for
Answer:
The popular cupcake chain Sprinkles, which first launched in Southern California in
2005, recently settled a trademark infringement lawsuit against a Connecticut bakery
that was calling itself Pink Sprinkles. The latter was forced to change its name to Pink
Cupcake Shack because it was apparently violating provisions of the
A. Consumer Product Safety Act.
B. Consumer Bill of Rights.
C. Lanham Act.
D. Sherman Antitrust Act.
E. CAN-SPAM Act.
Answer:
An imprecise terms for intermediaries who perform a variety of functions, including
selling, maintaining inventories, extending credit, and so on, are referred to as
__________.
A. agents
B. brokers
C. retailers
D. wholesalers
E. distributors
Answer:
JCPenney has leveraged its store, website, and catalog channels. A JCPenney customer
who shops in all three spends four to eight times as much as a customer who shops in
only one channel. JCPenney is likely following a(n) __________ strategy.
A. dual distribution
B. market penetration
C. cross-functional
D. interlocking marketing
E. multichannel marketing
Answer:
Studies show that shoppers spend an average of __________ hour(s) researching cars
online before setting foot in a showroom.
A. 1
B. 2
C. 6
D. 11
E. 26
Answer: