It is the responsibility of __________ to determine the ethical approach to setting prices
so consumers find value and the firm can make a profit.
A. the Better Business Bureau
B. federal regulators
C. the American Marketing Association
D. marketers themselves
E. industry standards boards
Answer:
Mira purchased some eyeliner from an Internet-based beauty supply house, and now
she often receives online recommendations for other products from the same cosmetics
line. These recommendations were probably the result of
A. the purchases she had made.
B. purchases other customers had made that day.
C. manufacturer clearances and overruns.
D. products she may have returned to the company.
E. items the retailer no longer carries.
Answer:
Which of the following is the best example of a family brand?
A. Cadillac, GMC, and Chevrolet
B. Tostitos Multigrain Scoops and Tostitos Chunky Salsa
C. Kellogg’s Special K and Famous Amos Chocolate Chip Cookies
D. Lifesavers Soda, Coca-Cola, and Diet Coke
E. KFC/Taco Bell fast foods
Answer:
We often see advertisements touting a product as being made with natural ingredients,
or being long-lasting. Marketers using these types of promotions are positioning their
products based primarily on
A. the value proposition.
B. product attributes.
C. symbols.
D. competitive comparisons.
E. profitability.
Answer:
__________ is a sales philosophy and process that emphasizes a commitment to
maintaining and investing in long-term, mutually beneficial business relationships.
A. Organizational buying
B. Cold calling
C. Psychographic selling
D. Relationship selling
E. Sales management
Answer:
Jonathan prefers shirts made with 100 percent cotton, but he will sometimes buy shirts
with less cotton if they are less expensive. Jonathan uses __________ to decide which
shirts to buy.
A. a compensatory decision rule
B. a noncompensatory decision rule
C. habitual decision making
D. social factors
E. temporal factors
Answer:
Airlines were among the first retailers to embrace loyalty segmentation when they
created
A. business-class seating.
B. 30-day advance pricing.
C. fuel surcharges.
D. in-flight movies.
E. frequent-flyer programs.
Answer:
Marketing involves all of the following except
A. conducting exchanges.
B. satisfying customer needs and wants.
C. creating value.
D. efforts by individuals and organizations.
E. production scheduling.
Answer:
The office policy and procedure states that any purchase requests that are $3,000 and
over must be given to Mary Reynolds, who will obtain authorization from the chief
financial officer. Mary serves as a(n) __________ in the buying center.
A. gatekeeper
B. decider
C. buyer
D. user
E. initiator
Answer:
Some products may stay comfortably in the maturity phase of the product life cycle
until a new product emerges to replace them. An example of such a mature product is
A. e-books.
B. refrigerators.
C. the VCR.
D. smartphones.
E. None of these; no product can stay in the maturity phase and survive for very long.
Answer:
Paula is about to open a new hardware store. She is making decisions regarding
lighting, colors, and layout of merchandise. Paula knows these __________ factors will
influence consumers’ purchase decisions.
A. interpersonal
B. extended habitual
C. postpurchase dissonance
D. store atmosphere
E. social
Answer:
Because manufacturers with JIT systems produce merchandise closer to the time of
sale, they can
A. organize cooperative agreements among competing manufacturers to reduce
oversupply.
B. reduce inventories needed to satisfy retailers’ demand.
C. use exclusive geographic territories to centralize production.
D. effectively eliminate the need for a dispatcher.
E. replace independent supply chains with corporate supply chains.
Answer:
In general, prices should not be based on costs because
A. consumers are cost-conscious.
B. producers rarely know what their costs are.
C. consumers make their purchase decisions based on perceived value.
D. producers need to avoid creating a cost competitive parity debate.
E. customers are always right.
Answer:
Location-based software and applications can help bring special offers to customers
right on their smartphones when they are in the process of making a purchase decision.
This best represents which aspect of the 4E framework of social media marketing?
A. engage
B. energize
C. excite
D. experience
E. educate
Answer:
When Apple Computer Company introduced the iPhonea combination phone, MP3
player, and Internet access devicein 2007, it was priced at $499, considerably higher
than either the iPod or competing cell phones. Hoping to attract innovators and early
adopters, Apple was most likely pursuing a __________ pricing strategy.
A. market penetration
B. slotting allowance
C. price fixing
D. reference price
E. price skimming
Answer:
After installing a(n) _______ in its JIT system, Chocolate Tree (a retail chocolate store)
was able to reduce lead time for merchandise orders.
A. supply chain
B. distribution center
C. quick change directory
D. electronic data interchange system
E. checking system
Answer:
Companies that specialize in sentiment analysis are least likely to look at __________
for data.
A. personal blogs
B. Facebook
C. Twitter
D. YouTube
E. online reviews
Answer:
Kyle is preparing for an important sales presentation. He knows that customers are
more likely to ___________ during his presentation than during other stages of the
selling process.
A. be identified as qualified leads
B. agree with everything he says
C. raise objections
D. offer advice
E. return unacceptable merchandise
Answer:
Learning refers to a change in a person’s thought process or behavior that arises from
A. attitudes.
B. experience.
C. risk analysis.
D. cultural norms.
E. postpurchase dissonance.
Answer:
Using technology and __________ are two ways a delivery gap can be reduced in size.
A. empowering employees
B. variability analysis
C. voice-of-customer analysis
D. zone of tolerance analysis
E. public relations
Answer:
If a firm has demographic and purchasing information about its customers, the firm can
use data mining techniques to
A. understand psychographic motivations.
B. create marketing mixes based on consumer self-values.
C. build separate marketing programs for different demographic segments.
D. determine which syndicated data warehouse services to purchase.
E. find out which competitors its customers purchase from.
Answer:
Along the service-product continuum, which of the following would be considered the
most product dominant?
A. grocery store
B. auto repair shop
C. doctor’s office
D. cell phone service provider
E. restaurant
Answer:
Nora is deciding whether to purchase brand-name sneakers or a less expensive store
brand. She has purchased other shoes with the same brand name in the past but was
only marginally satisfied. In this situation, Nora is likely to purchase the store brand
sneakers because they offer
A. more brand awareness.
B. higher degrees of brand loyalty.
C. greater perceived value.
D. a better brand image.
E. more product line depth.
Answer:
Everyday low pricing (EDLP) provides value to consumers by
A. continually offering items on sale.
B. minimizing the number of options a consumer can evaluate.
C. offering noncumulative quantity discounts.
D. reducing their search costs.
E. creative use of reference pricing.
Answer:
To determine how attractive a particular market is using the BCG portfolio analysis,
__________ is(are) established as the vertical axis.
A. competitive intensity
B. sales dollars
C. market size
D. market growth rate
E. market profit potential
Answer:
The __________ stage of the advertising campaign planning process can be described
by the question, “Whom are we trying to talk to?”
A. identifying target audience
B. setting advertising objectives
C. conveying the message
D. assessing the impact
E. determining the advertising budget
Answer:
Benton manages a building supply company. He wants to invite 20 of his most valuable
building-contractor customers to a golf outing and party. Benton will likely use the
firm’s ___________ to identify these customers.
A. website
B. CRM database
C. specialty store sales
D. annual sales report
E. inventory management system
Answer:
Kim is the sales representative for a major textbook publisher. When she calls on the
business faculty at General University, she also tries to meet with several students to get
their feedback on textbooks. She passes this feedback to her managers to guide the
development of the publisher’s future textbooks. The students are the __________ in the
buying center.
A. deciders
B. initiators
C. influencers
D. users
E. gatekeepers
Answer:
Colin has just received a delivery from the company’s distribution center. He opens the
containers and finds the popcorn and snacks are all bar-coded and priced and the
package includes an end-of-the-aisle display rack. Colin has received a(n) __________
shipment.
A. quick-response packaged
B. ahead of the curve
C. lead time synchronized
D. floor-ready
E. synthesized
Answer:
Yellow Trucking provides transportation services for Dan’s Delicious Donuts so that
Dan’s stores always have fresh stock. Yellow Trucking is an example of a
A. cultural cohort.
B. corporate partner.
C. cartel.
D. cooperative.
E. customer.
Answer:
Which of the following is not one of the important functions of labels on products and
packages?
A. protecting against damage to the product
B. providing consumer information to assist in purchasing
C. identifying the brand and building brand image
D. promoting the brand or complementary brands
E. listing the ingredients
Answer:
One of the reasons marketers use loyalty segmentation is
A. the high cost of finding new customers.
B. government tax incentives.
C. accounting difficulties associated with identifying new customers.
D. rapid population increases.
E. the failure of micromarketing as a workable strategy.
Answer:
When a global firm turns to its subsidiaries in less developed markets for new product
ideas, such as when Coca-Cola developed Minute Maid Pulpy out of its Shanghai
research center and then moved the product into other markets around the world, the
firm is engaged in
A. a consortia.
B. reverse innovation.
C. competitive engineering.
D. pioneering.
E. beta testing.
Answer: