Bundle pricing refers to
A. an extra amount of free goods awarded sellers in the channel of distribution for
promoting a product.
B. marketing two or more products in a single package price.
C. using BOGOs – requiring customers to buy one to get one free – as a strategy to
increase sales and profits.
D. setting the price of a line of products at two specific pricing points.
E. the practice of charging two or more prices depending upon the outlet carrying the
product.
Answer:
The Mall of America is an example of which type of setting for a store location?
A. central business district
B. regional shopping center
C. community shopping center
D. strip mall
E. power center
Answer:
The shapes of the product life cycle for high-learning, low-learning, fashion, and fad
products vary as does __________.
A. the actual length of time a product stays in any stage of the life cycle
B. the individual criteria selected to place a firm in a stage of the life cycle
C. the importance of the marketing mix elements
D. the importance of environmental forces
E. the importance of new product innovation
Answer:
Which of the following statements regarding the role of salespeople is most accurate?
A. Salespeople have little say in a company’s account management policies.
B. Salespeople truly know their customers and therefore are the best resource for
segmenting and selecting target markets.
C. Salespeople are the most highly trained of all a firm’s employees and therefore have
the greatest job security.
D. Salespeople create customer value by providing follow through after the sale.
E. Salespeople are traditionally given greater authority than other company employees
and therefore can offer customers the best financial terms for their purchases.
Answer:
Whereas traditional media build credibility through experts being influencers in a
particular field, with social media a sender often simply begins to participate in the
__________, hoping that the quality of the message will establish credibility with the
receivers.
A. purchase transaction
B. conversation
C. amateur discussion
D. discussion pool
E. information superhighway
Answer:
One disadvantage of using magazines as an advertising medium is
A. the inability to target specific audiences.
B. the short lead-time needed to place an ad.
C. the need for advertising to effectively compete against other magazine features.
D. the unscheduled nature of their publication.
E. the antagonism with environmentalists.
Answer:
A hardware store advertises a 3/8″ Black and Decker Power Drill for $29.95. You enter
the store intending to purchase the drill. The salesperson informs you that they are all
sold out. She tells you that the sale drills were factory seconds and that if you are going
to be doing any kind of serious woodworking, you should buy the Model 3309, which
sells for $49.99. This scenario has elements of which type of illegal pricing practice?
A. predatory pricing
B. price discrimination
C. price fixing
D. bait and switch
E. conditional bargains
Answer:
The marketing strategy to sell current products to new markets is referred to as
__________.
A. market penetration
B. market infiltration
C. market development
D. product development
E. diversification
Answer:
A country’s communications, transportation, financial, and distribution systems are
considered to be its
A. capital improvements.
B. fixed-asset base.
C. economic infrastructure.
D. geopolitical wealth.
E. asset wealth.
Answer:
Multichannel marketing is the blending of different __________ that are mutually
reinforcing in attracting, retaining, and building relationships with consumers who shop
and buy in traditional intermediaries and online.
A. pricing channels
B. distribution channels
C. communication and delivery channels
D. direct and indirect channels
E. communication channels
Answer:
A limited-service wholesaler that furnishes shelves that display merchandise in stores,
performs all channel functions, and sells on consignment to retailers is referred to as a
__________.
A. stack loader
B. rack jobber
C. drop shipper
D. desk jobber
E. truck jobber
Answer:
Jeff Gerst, who manages the Carmex social media properties, says, “For Carmex,
Facebook isn’t just a way to share coupons or the latest product news, but it is also a
marketing research resource.” One objective in the marketing research he undertook
using Facebook involved
A. assessing the market for its new hand cream product.
B. projecting the market size for the Carmex Moisture Plus line of premium lip balms
for women.
C. assessing the market for Carmex products outside the U.S. in countries where
Facebook is active.
D. evaluating the effectiveness of integrating Carmex Facebook promotions with
traditional Carmex promotions.
E. narrowing the number of flavors going into quantitative testing from three to two.
Answer:
Marketing researchers use tracking studies immediately before an upcoming film’s
release to
A. identify any factual errors or inconsistencies in the storyline.
B. nominate specific actors or actresses for industry awards.
C. forecast a movie’s opening weekend box office revenues.
D. select the best geographical location for the movie’s premiere.
E. make changes to the movie’s release based upon professional critics’ reviews.
Answer:
Regulation refers to
A. the restrictions that state and federal laws place on business with regard to the
conduct of its activities.
B. constraints placed on businesses for activities that are legal but unethical.
C. society’s values and standards that are enforceable in the courts.
D. requirements concerning which customers a firm may serve or not serve.
E. the moral principles and values that govern the actions and decisions of an individual
or group.
Answer:
Global consumers refer to
A. all potential consumers for any and all products or services regardless of cultural,
ethnic, or national origins.
B. customers within a nation who consider the entire world a single marketplace.
C. consumer groups living in many countries or regions of the world who have similar
needs or seek similar features and benefits from products or services.
D. consumer groups living in many countries or regions of the world that have similar
needs but seek customized features and benefits from products or services that reflect
their individual cultures.
E. multinational organizations whose products incorporate raw materials, assembly, and
distribution contributions from multiple nations before they are marketed.
Answer:
One disadvantage of using newspapers as an advertising medium is
A. their inability to cover local markets.
B. readers damage the newspaper when clipping its ads.
C. their short life span.
D. the high cost of ads.
E. their quick consumer response.
Answer:
The social forces of the environment include the demographic characteristics of the
population and its __________.
A. geographic locations
B. social classes
C. cohorts
D. culture
E. ethics
Answer:
Research objectives are __________.
A. conjectures regarding marketing outcomes
B. general research guidelines
C. solutions to be evaluated
D. specific and measurable
E. research dashboards
Answer:
The practice of using team selling to focus on important customers so as to build
mutually beneficial, long-term, cooperative relationships is referred to as __________.
A. major account management
B. relationship marketing
C. relationship selling
D. customer account management
E. needs-satisfaction selling
Answer:
The central element of the marketing strategy for Pez Candy, Inc., is the __________.
A. price
B. breath mint
C. availability
D. container
E. fulfillment
Answer:
When the Lorillard Tobacco Company places ads discouraging teenagers from
smoking, the firm is using which type of advertising?
A. pioneering
B. competitive
C. reminder
D. comparative
E. advocacy
Answer:
Much of Google’s success is based on the ten guidelines of its corporate philosophy.
Guideline 7 states, “There’s always more __________ out there.”
A. information
B. competition
C. opportunity
D. money to be made
E. customers to serve
Answer:
Thirsty Dog! is a zesty beef-flavored, vitamin-enriched, mineral-loaded, lightly
carbonated bottled water for your dog. It might have been a great product, but
competition over shelf space was fierce and the product could not generate enough sales
per square foot for retailers. The makers of this product had
A. poor product quality.
B. no economical access to buyers.
C. an insignificant point of difference.
D. incomplete market and product protocol.
E. poor execution of the marketing mix.
Answer:
Advertisers are excited about online TV because
A. ads look better on high definition (HD) computer screens.
B. it will offer target audiences who are engaged.
C. there will be more advertising space available.
D. it uses old technology so investment is minimal.
E. measuring TV viewership will be easier.
Answer:
When Marine Midland Bank sent market researchers with surveys door-to-door in the
neighborhoods surrounding its branch banks to ask people with savings accounts why
they did not also have checking accounts and credit cards with Marine Midland, they
were gathering __________ data.
A. intercept
B. secondary
C. questionnaire
D. observational
E. nonprobability
Answer:
Though uninformed consumers may not appreciate the extra markups from channel
members, the four utilities each provide methods of
A. channel intermediary development.
B. relationship management between channel intermediaries themselves.
C. value creation by channel intermediaries.
D. channel intermediary promotional efforts.
E. a way to recoup cost overruns.
Answer:
A collection of databases, or __________, is where a firm’s ocean of marketing data is
stored.
A. data vault
B. data depot
C. data warehouse
D. data storehouse
E. data stockroom
Answer:
Figure 2-5
Lego has traditionally been successful selling its classic construction sets to boys.
Recently, Lego introduced a line of building toys especially for girls called Lego
Friends. It includes feminine characters, pink and purple theme colors, and allows girls
to construct more story-related activities. The company felt this was a way to reach into
the girl’s toy market where alternatives include princess games and accessories.
Considering Figure 2-5 above, this is an example of a __________ strategy that would
be found in quadrant __________.
A. market penetration; A
B. product development; B
C. diversification; D
D. market development; C
E. product-market expansion; D
Answer:
The term __________ refers to the ability of consumers to stop or change the kind,
amount, or timing of information sent to them about products or brands.
A. deactivate
B. consent-retract
C. opt-out
D. permission-denied
E. authorization-denied
Answer:
Which of the following statements regarding billboards is most accurate?
A. Billboards offer apply opportunity for lengthy advertising copy.
B. Billboards are not a good supplemental reinforcement for well-known products.
C. Billboards are well-suited for pioneering advertising.
D. Billboard sites depend on traffic patterns and sight lines.
E. Billboards are often too expensive for small local firms and are better suited for
national campaigns.
Answer: