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When Lucile visited a stationery store to buy tape, she noticed that each roll of tape was
priced at $1.99. In fact, most of the prices at the store were set a few dollars or a few
cents below a round number. This indicates that the manager of the store is using a(n)
_____.
A. odd-even pricing strategy
B. bundle pricing strategy
C. prestige pricing strategy
D. premium pricing strategy
Answer:
RUV Bank, an American bank, has branches across 22 nations. Each branch has a
well-organized team of highly skilled employees. The banking corporation coordinates
all its activities by holding important meetings and conference calls. The bank has also
been successful in conducting global performance reviews and implementing global
compensation plans. Which of the following internal factors that can either facilitate or
impede a company's efforts to undertake a global approach to marketing strategies has
been illustrated in this scenario?
A. Management processes
B. Culture
C. People
D. Structure
Answer:
Anchor Investments Inc. is an investment bank that acts as a financial advisory body to
many independent asset owners. The bank acquires a high-stakes project that requires
the exclusive involvement of senior project managers. They therefore work in relative
privacy away from the rest of the organization. This alternative approach to project
management is called _____.
A. crashstakes
B. skunkworks
C. relay approach
D. rugby approach
Answer:
Heidi, the marketing manager of a cosmetic manufacturing company, decides to fix the
price of a new perfume at $89.99. She believes that the odd pricing of the product will
encourage potential buyers to think of the product as less expensive. Which of the
following factors has Heidi considered when making her pricing decision?
A. Environmental factors
B. Demographic factors
C. Economic factors
D. Psychological factors
Answer:
The _____ involves a set of controllable variables that must be managed to satisfy the
target market and achieve organizational objectives.
A. demographic profile
B. mission statement
C. organizational history
D. marketing mix
Answer:
Which of the following is a benefit of using projective techniques as a method of data
collection?
A. They are less threatening to respondents for sensitive topics.
B. They minimize the need for trained and experienced interviewers.
C. They substantially reduce the cost per interview in the research study.
D. They provide the broadest geographic dispersion for a marketing research study.
Answer:
Vet Meds is the pharmaceutical branch of a large medical research center for animals.
Vet Meds often conducts surveys at veterinary hospitals and private vet clinics to
identify potential areas for improvisation and growth. The company noted that many
domestic pet-owners reported finding it extremely difficult to give their dogs oral
medications owing to the bitter taste of the medicines, which remained even when the
medicines were mixed with food. In response to this finding, Vet Meds released oral
medicines for dogs which came in various meat flavors. Which of the following
segmentation approaches is used by Vet Meds to satisfy consumer needs?
A. Benefit segmentation
B. Psychographic segmentation
C. A priori segmentation
D. Social segmentation
Answer:
Which of the following denotes a growth direction through the increase in market share
for present product markets?
A. Market penetration
B. Diversification
C. Market development
D. Benchmarking
Answer:
In marketing information systems, database management software:
A. is used for sorting and retrieving data from internal and external sources.
B. contains routines for manipulating data in ways that are useful for marketing
decision making.
C. permits marketers to use models to produce information to address their
decision-making needs.
D. provides tools for marketers to search for meaningful trends in large sets of data.
Answer:
Which of the following is true of administered vertical marketing systems?
A. They involve a parent company and an independent firm entering into a contractual
relationship to set up and operate a business in a particular way.
B. They involve a group of independent retailers uniting and agreeing to pool buying
and managerial resources to improve competitive position.
C. They involve a wholesaler contracting with a number of retailers performing channel
functions for it.
D. They involve a high degree of interorganizational planning and management and
depend on the presence of a channel leader.
Answer:
Since nonprofit organizations are by and large prohibited from resorting to advertising,
which of following forms of publicity do they rely on such that media donates time for
advertising for contributions and donors?
A. Public service announcements
B. Sponsorship
C. Press releases
D. News conference
Answer:
From a marketing management perspective, _____ is an important nonpersonal
strategic device for maintaining a competitive advantage in the marketplace.
A. direct marketing
B. personal selling
C. advertising
D. telemarketing
Answer:
_____ handle deep assortments in a limited number of product categories.
A. Specialty stores
B. Mass merchandisers
C. Convenience stores
D. Warehouse clubs
Answer:
Jake is the marketing manager at Z-T athletic shoes manufacturers. Jake wanted to
know how consumers perceive Z-T shoes when compared to all other athletic shoes
currently in the market. He develops and administers a survey which indicates that the
important attributes consumers look for in athletic shoes include price, durability, fit,
and support. In this case, Jake could determine how Z-T ranks against other brands by
using a _____.
A. perceptual map
B. product mix
C. positioning map
D. competitive chart
Answer:
In which of the following situations is it appropriate for a firm to become a mass
marketer?
A. The market is large and consists of several segments that are almost equal in size.
B. Heavy users make up such a large proportion of the sales volume that they are the
only relevant target.
C. The largest segment is composed of light users, and hence, targeting them would
yield the highest profits for the firm.
D. The brand is not dominant in the market, and targeting a large segment would
benefit sales and profits.
Answer:
A purpose of quantitative research is to:
A. develop new products and services, or reposition current product or service images.
B. build theories and models to explain marketplace behaviors or relationships between
two or more marketing variables.
C. identify a business problem or opportunity situation, or establish information
requirements.
D. investigate the degree to which the insights about a topic hold across a larger sample
or population.
Answer:
