The strategic marketing process involves three phases: planning, implementation, and
A. review.
B. execution.
C. evaluation.
D. goal revision.
E. correction.
Answer:
The argument for protectionism is that it
A. protects a nation’s political security.
B. encourages economic reliance on foreign countries.
C. inhibits the development of domestic industries.
D. creates opportunities for the outsourcing of domestic jobs.
E. creates a more favorable environment for a global economy.
Answer:
Performance measures for social media are
A. less specific than those for traditional media.
B. easier to track for traditional media such as newspapers and magazines because
marketing managers can track the circulation numbers.
C. easiest to track using Twitter.
D. more specific than those for traditional media.
E. the same as for traditional media.
Answer:
The pricing strategy that is almost the exact opposite of skimming pricing is
A. target pricing.
B. penetration pricing.
C. price lining.
D. odd-even pricing.
E. prestige pricing.
Answer:
DirectProtect is an insurance provider that uses telemarketers rather than insurance
agents to sell insurance and deal with claims. It wants to pursue new markets, but with
some idea of how successful its sales efforts will be. Researchers invited a group of
eight insured people to its headquarters to discuss their attitudes about home and auto
insurance and awareness of DirectProtect. Responses were gathered on paper as
__________ data.
A. hypothetical
B. generative
C. evaluative
D. questionnaire
E. experiential
Answer:
What is considered normal and expected about the way people do things in a specific
country is referred to as __________.
A. morals
B. ethics
C. values
D. customs
E. beliefs
Answer:
The fourth step of the marketing research approach is to __________.
A. develop findings
B. define the problem
C. take marketing actions
D. develop the research plan
E. collect relevant information
Answer:
Which of the following is an example of nonstore retailing?
A. hypermarkets
B. supercenters
C. shopping centers
D. vending machines
E. general merchandise stores
Answer:
Which of the following is an example of form utility?
A. an iPhone with a “multitouch” user interface for easy navigation
B. stamp vending machines that are located in drug stores
C. a service station that has a 24-hour ice machine available for use when the station is
closed
D. a mobile phone company that offers six-month financing, same as cash
E. a gourmet candy store that offers a home delivery service
Answer:
Market penetration refers to the marketing strategy of
A. selling current products to new markets.
B. selling new products to new markets.
C. selling new products to current markets.
D. selling the same brands in both current and new markets.
E. increasing sales of current products in current markets.
Answer:
Figure 7-3
Figure 7-3 above shows the top ten prime-time broadcast TV shows during a recent
May sweeps week. Advertisers like Sears use the Nielsen Television Ranking Index
Report from Nielsen Media Research to identify the ratings of the top TV programs so
they can make informed advertising media purchase decisions. For which TV program
would you expect Sears to pay the most, presuming its demographics match those of its
target audience?
A. American Idol – Thursday
B. The Big Bang Theory
C. NCIS: Los Angeles
D. NCIS
E. Dancing with the Stars
Answer:
A markup refers to
A. the difference between the final selling price and how the customer values the
product.
B. selling brand name merchandise at lower than regular prices.
C. the amount added to the cost the retailer paid for a product to reach the final selling
price.
D. the difference between the retail cost and initial selling price.
E. the reduction in retail price, usually expressed as a percentage equal to the amount
reduced, divided by the original price, and then multiplied by 100.
Answer:
Pizza Hut’s 2009 program to identify a summer intern, or __________, responsible for
monitoring and encouraging dialog on Twitter and other social media networks, is an
example of how the brand is building on existing platforms and making effective use of
the massive social marketing infrastructure.
A. Trusttern
B. Twintern
C. Stutern
D. Brandtern
E. Blogtern
Answer:
Industrial distributors perform functions that are most like which intermediary in the
consumer products marketing channel?
A. manufacturers
B. retailers
C. agents
D. wholesalers
E. brokers
Answer:
The three guidelines on marketing and promoting a brand using YouTube include: (1)
exploit visual aspects of your message, perhaps sacrificing product messages to tell a
more entertaining story; (2) create a branded channel rich in key words to improve the
odds of the video showing up in user searches; and (3) __________.
A. use an expert to inform the audience about product features and benefits
B. tie the product to a current political or news event
C. target viewers by using YouTube’s insights and analytics research to reveal the
number of views, where they originate within YouTube, and what key words are driving
user visits
D. include humorous content to attract as many viewers as possible
E. limit the video to one minute or less, the same as a TV or radio ad time limit
Answer:
The break-even point (BEP) = [Fixed cost (Unit price – __________)].
A. Total cost
B. Total expense
C. Marginal revenue
D. Unit variable cost
E. Total number of units produced or quantity
Answer:
Customer experience management (CEM) is
A. the integration of the service component of the marketing mix with efforts to
influence consumer demand.
B. the unique combination of benefits received by targeted buyers that include quality,
convenience, on-time delivery, and both before-sale and after-sale service at a specific
price.
C. the process of managing the entire customer experience within the company.
D. a cluster of benefits that an organization promises customers to satisfy their needs.
E. the ability of logistics management to satisfy users in terms of time, dependability,
communication, and convenience.
Answer:
In the context of the personal selling process, excuses for not making a purchase
commitment or decision are referred to as __________.
A. rationalizations
B. equivocations
C. refusals
D. objections
E. qualifications
Answer:
The final step in the five-step marketing research approach includes making action
recommendations, implementing action recommendations, and __________.
A. evaluating the results
B. doing an environmental scan
C. making sales or profit projections for the coming year(s)
D. increasing or decreasing production based upon research collected
E. identifying possible opportunities for growth
Answer:
Internet marketing channels refer to
A. the employment of the Internet to make products and services available for
consumption or use by consumers or organizational buyers.
B. a firm’s computer driven inventory management through an entirely mechanized
warehousing system.
C. intranet systems linking all aspects of production within a single firm.
D. information- and communication-based electronic exchange environment mostly
occupied by sophisticated computer and telecommunication technologies and digitized
offerings.
E. the name given to all Internet addresses that end in “.com” to indicate that these
websites are commercial entities that distribute goods and services.
Answer:
Variable cost refers to
A. the sum of the expenses of the firm that are stable and do not change with the
quantity of a product that is produced and sold.
B. the sum of the expenses of the firm that change with the quantity of a product that is
produced and sold.
C. the total expense incurred by a firm in producing and marketing a product, which
equals the sum of fixed cost and marginal cost.
D. the average amount of money received for selling one unit of a product or simply the
price of that unit.
E. the change in total cost that results from producing and marketing one additional unit
of a product.
Answer:
Procter & Gamble introduced Old Spice High Endurance antiperspirant, targeted to
teenage boys who don’t watch much TV. P&G did grassroots marketing including
handing out samples at skateboarding events and sponsoring a contest for the
“high-school football player of the year.” P&G emphasized which promotional element
in this example?
A. sales promotion
B. advertising
C. personal selling
D. public relations
E. word-of-mouth
Answer:
Major account management refers to
A. the assignment of a single salesperson to a single customer throughout the course of
the entire sale.
B. the practice of assigning the highest performing salesperson to the clients with the
most profitable accounts.
C. the practice of using team selling to focus on important customers so as to build
mutually beneficial, long-term, cooperative relationships.
D. a sales relationship that involves a face-to-face, person-to-person encounter rather
than a sale made through extranets.
E. the practice of occasionally making contact with a customer on a sporadic basis
following the initial sale of a product or service.
Answer:
An FTD ad shows a woman holding a very large vase of flowers. The background is red
and the only text in the ad is “Mother’s Day.” What type of ad is this?
A. special occasion
B. subliminal
C. reminder
D. pioneering
E. comparative
Answer:
When employing a push strategy, a manufacturer
A. advertises a great deal to its wholesalers, retailers, and ultimate consumers with the
use of nationwide advertising campaigns.
B. directs the promotional mix to channel members to gain their cooperation in ordering
and stocking the product.
C. forces a retailer to promote its products by placing national ads in local newspapers.
D. directs its efforts in the form of advertising and sales promotions to ultimate
consumers to encourage them to ask the retailer for the product.
E. directs retailers to promote one product over another to help balance fluctuations in
inventory.
Answer:
A survey of buyers’ intentions forecast involves
A. starting with the last known value of the item being forecast, listing the factors that
could affect the forecast, assessing whether they have a positive or negative impact, and
making the final forecast.
B. making decisions without any intervening steps.
C. asking prospective customers if they are likely to buy the product during some future
time period.
D. asking the firm’s salespeople to estimate sales during a coming period.
E. selecting the forecasting alternative that would allow a firm to survive financially
even if the forecasts were totally incorrect.
Answer:
Stephan was excited about his newly purchased laptop. It had all the features he
wanted, and was really fast with a great display for his gaming. In addition, the $1,200
price tag was reasonable. The same day he took it out of the box, he saw an online
special for a similar computer, on sale for only $1,000. Suddenly he began to doubt his
purchase decision, and worried that maybe he hadn’t gotten such a good deal. Stephan
was most likely experiencing
A. limited problem solving.
B. cognitive dissonance.
C. selective discord.
D. product conflict.
E. product uncertainty.
Answer:
Which of the following statements about marketing mix characteristics in
organizational buying behavior is most accurate?
A. Few large transactions are made over the Internet.
B. The actual buyer retains all of the influence in the buying decision.
C. Advertising is very simplistic in nature.
D. Direct selling to organizational buyers is the rule.
E. Only finished goods are sold in this way.
Answer:
In the VALS framework, self-expression-motivated consumers who have fewer
resources and express themselves and experience the world by working on it are
referred to as __________.
A. Experiencers
B. Thinkers
C. Strivers
D. Believers
E. Makers
Answer:
A time of declining economic activity when businesses decrease production,
unemployment rises, and many consumers have less money to spend is referred to as
A. deflation.
B. inflation.
C. prosperity.
D. a recession.
E. a depression.
Answer:
A firm may have a goal to offer its customers the highest __________, as Medtronic
does with its implantable medical devices.
A. innovation
B. quality
C. service
D. value
E. warranty
Answer:
Taco Bell introduced its Doritos Locos Tacos by giving away millions of free tacos. In
this example, Taco Bell used a sales promotion technique called
A. a self-liquidating premium.
B. a special deal.
C. a rebate.
D. sampling.
E. product placement.
Answer:
In a buying center, __________ affect the buying decision, usually by helping define
the specifications for what is bought.
A. gatekeepers
B. deciders
C. buyers
D. influencers
E. users
Answer: