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When companies set prices, the government and social concerns are ________ affecting
pricing decisions.
A) external factors
B) internal factors
C) economic factors
D) cultural factors
E) organizational factors
Porsche is a German automobile manufacturer that competes against BMW and Audi,
but only in the sports car and SUV segments of the automobile market. Porsche utilizes
a(n) ________ strategy.
A) overall cost leadership
B) focus
C) middle-of-the-roaders
D) market segmentation
E) blue ocean
The ________ concept is aligned with the philosophy of continuous product
improvement and the belief that customers will choose products that offer the most in
quality, performance, and innovative features.
A) product
B) production
C) societal marketing
D) marketing
E) selling
Fun-Spot Fun Park began as a small amusement park in 1985. With nothing more than a
merry-go-round, a slide, pony rides, and an ice cream stand, Fun-Spot grew into a
popular family attraction with 20 rides, a restaurant, and an outdoor performing arts
theater.
"My wife, Gail, and I didn't know what we were getting into," commented Ron Hart,
the owner. "We just knew that weekenders coming to the lakes in our rural area
represented an untapped market."
Today, thousands of visitors flock to Fun-Spot: families, children of all ages, and even
senior citizens who enjoy strolling through the gardens and the arbors.
"There's something here for everyone," Gail Hart said with a smile. "Dozens of
companies hold annual company picnics here. We have welcomed class field trips. And
we even had one wedding here at the park!"
"Here's the funny thing," Ron chimed in. "We really don't know why we've been so
successful. There is nothing else like Fun-Spot Fun Park in the area. We were just
lucky."
"I think it's the ambience of the park that has brought so many visitors," Gail added.
"We provide a 'total package' of entertainment. Plus, we try to change our rides and
various attractions from time to time for variety."
Ron and Gail Hart admitted that making every visitor happy is a priority. "That has
always been our philosophy," they said. "Like the park's motto at the entrance reads,
'We're here to make you happy!' And we've always been able to deliver on that because
we've never allowed ourselves to grow too big too quickly."
Ron and Gail strive to provide new offerings and entertainment options for their
visitors. This type of strategy can be best described as ________.
A) market penetration
B) market development
C) product development
D) niche marketing
E) diversification
________ is a person's pattern of living as expressed in his/her psychographics, and it
includes the individual's activities, interests, and opinions.
A) Personality
B) Culture
C) Lifestyle
D) Motive
E) Social class
Companies facing the challenge of setting prices for the first time can choose between
two broad strategies: market-penetration pricing and ________.
A) comparative pricing
B) competitive pricing
C) market-skimming pricing
D) market-segmentation pricing
E) cost-plus pricing
Which of the following is true with regard to media publics?
A) The primary function of this group is to protect the interests of minority groups.
B) This group carries news, features, and editorial opinion.
C) The primary function of this group is to critique the marketing decisions of
companies.
D) This group includes neighborhood residents and community organizations.
E) This group directly influences the company's ability to obtain funds.
In the marketing mix, place includes ________.
A) logistics
B) discounts
C) sales promotion
D) advertising
E) packaging
Which of the following demographic trends is the most likely cause for a rapid increase
in telecommuting?
A) the migration toward micropolitan and suburban areas
B) the migration from rural to metropolitan areas
C) the increasing number of traditional households
D) the growing percentage of married couples who do not have children
E) the declining number of manufacturing workers in today's workforce
Walmart, Costco, and Southwest Airlines serve customers who want reliable,
good-quality products or services that are also reasonable and easily available. These
companies are all known for pursuing a value discipline known as ________.
A) operational excellence
B) customer intimacy
C) product differentiation
D) product leadership
E) focus
Avo Cutlery has always relied upon selling its fine cutlery via supermarkets and its own
chain of stores. But thanks to the dot-com boom, the company now also sells its cutlery
via its Web site, AvoCutlery.com. Which of the following best describes Avo Cutlery?
A) buy-here pay-here company
B) brick-and-mortar company
C) click-only company
D) click-and-mortar company
E) shell company
Bryant and Anne are the owners of the Good Green Grocer, a small but successful chain
of organic food stores. The organic food sold by Bryant and Anne is of good quality.
Also, it is tasty and has long-term health benefits. Bryant and Anne's business has
expanded as more and more consumers are interested in eating organic foods. What
started as one shop in Vermont has expanded to 15 stores in Vermont, New Hampshire,
Massachusetts, and Maine. Much to their delight, Bryant and Ann have found that many
people are willing to pay a bit more for food that is organically grown.
Sunday ads for the Good Green Grocer run in area newspapers, with special
promotional prices offered for a list of the "Top Ten Take Homes" each week. Regular
customers of the Good Green Grocer know that the promotional items often run out of
stock by mid-week, so the store typically sees its heaviest traffic on Sunday and
Monday.
Some customers believe that the Good Green Grocer purposefully runs weekly
promotional prices on items that are low in stock, leaving most customers who come to
the store hoping for lower prices but unable to buy the out-of-stock sale items. If this is
true, then the Good Green Grocer would most likely be accused of ________.
A) using puffery
B) deceptive pricing
C) deceptive promotions
D) deceptive packaging
E) green washing
Fiona Lambrech is the marketing director of a newly established detergent company. In
order to introduce her product effectively into the market, Fiona sends samples of the
detergent to a select group of individuals. Which of the following forms of marketing
was most likely used by Fiona?
A) direct-mail marketing
B) catalog marketing
C) telephone marketing
D) kiosk marketing
E) direct-response television marketing
Which of the following wholesaler's channel functions is demonstrated when a buyer
receives quicker delivery because wholesalers are located closer than producers?
A) financing
B) transportation
C) buying and assortment building
D) warehousing
E) risk bearing
The BeautyShop, a manufacturer of skin care products, uses only plant based materials
for its cosmetic products. It supports several environmental protection movements and
movements defending human rights. This accounts for the company's efforts to build
good will and corporate social responsibility. This exemplifies the ________.
A) consumer business concept
B) strategic planning concept
C) consumerism concept
D) direct marketing concept
E) sustainable marketing concept
AskKarl.com is a local search engine Web site that exclusively caters to people in New
England. When users search for information, text-based ads related to the search appear
alongside the search results. Which of the following is illustrated from this example?
A) contextual advertising
B) pixel advertising
C) digital catalog
D) kiosk marketing
E) podcasts
In the case of ________ exporting, sellers handle their own exports.
A) direct
B) licensed
C) indirect
D) countervailing
E) multilateral
