Book Title
Principles of Marketing 16th Edition

MKT 837

September 25, 2015
At the beginning of each year, the management of Dee Decor states the exact amount a
salesperson should sell. This specific sales target is also known as a ________.
A) sales lead
B) prospect
C) bill of sale
D) channel length
E) sales quota
When companies watch both their buyers and their competitors, they are called
________ companies.
A) product-centered
B) market-centered
C) customer-centered
D) competitor-centered
E) cost-centered
Refer to the scenario below to answer the following question(s).
Most clients of Second Avenue have learned about the store through word-of-mouth
communication. This small retailer of quality secondhand children's clothing thrives on
the sale of a vast inventory of children's clothing placed on consignment. "Because
small children grow so quickly," Second Avenue's owner commented, "they often
outgrow many of their clothes before they've hardly been worn!"
Second Avenue provides a way for people to sell their children's clothing, earn a few
dollars, and buy the next larger size. "We're extremely picky about the condition of the
clothing we stock," the owner stated, "but we sell most items at a 60-percent
discount."Which of the following media options would be the LEAST costly for Second
Avenue's promotional efforts?
A) periodic advertising in a local newspaper that follows a pulsing schedule
B) daily advertisements on a cable television station
C) daily commercials during the local evening news
D) a billboard placed on the nearest interstate highway
E) a billboard placed in a supercenter
A major step in regulating "unfair or deceptive business acts and practices" was the
enactment of the ________ in 1938.
A) Robinson-Patman Act
B) Wheeler-Lea Act
C) Interstate Commerce Commissions
D) Taft-Hartley Act
E) Stamp Act
Which of the following is true with regard to price?
A) Historically, price has had the least perceptible impact on buyer choice.
B) Price is the least flexible element in the marketing mix.
C) Unlike product features and channel commitments, prices cannot be changed
D) Price is the sum of all the values that customers give up to gain the benefits of
having a product.
E) Prices only have an indirect impact on a firm's bottom line.
Product planners need to consider products and services on three levels. At the second
level, product planners must ________.
A) offer additional product support and after-sale services
B) identify the core customer value that consumers seek from the product
C) turn the core benefit into an actual product
D) find out how they can create the most satisfying brand experience
E) define the problem-solving benefits or services that consumers seek
A(n) ________ is a segment of the population selected for marketing research to
represent the population as a whole.
A) focus group
B) immersion group
C) primary group
D) sample
E) secondary group
For international researchers, ________ is the most obvious obstacle.
A) language
B) technology
C) infrastructure
D) motivation
E) political risk
Proposals related to ________ include promoting the use of sustainable ingredients,
recycling and reducing solid wastes, and managing energy consumption.
A) the right to be informed
B) consumer protection
C) preserving the world for future consumption
D) quality of life
E) the right to charge any price for the product
Which of the following is a major tool used by PR professionals?
A) standardized global advertising
B) market penetration
C) news
D) bait-and-switch strategy
E) product packaging
Elmo Inc., a Michigan-based manufacturer of athletic shoes, uses professional athletes
in its ad campaigns to help sell its products. This is an example of ________ marketing.
A) person
B) place
C) social
D) organization
E) internal
While using the ________ method for setting an advertising budget, a company starts
with total revenues, deducts operating expenses and capital outlays, and then devotes
some portion of the remaining funds to advertising.
A) integrated
B) moving-average
C) competitive-parity
D) percentage-of-sales
E) affordable
________ pricing refers to offering just the right combination of quality and gratifying
service at a fair price.
A) Markup
B) Good-value
C) Cost-plus
D) Target profit
E) Break-even
Which of the following is a market leader strategy?
A) expanding market share
B) multiple niching
C) full frontal attack
D) following at a distance
E) following closely
When consumers are highly involved with the purchase of an expensive product and
they perceive significant differences among brands, they most likely will exhibit
A) consumer capitalism
B) complex buying behavior
C) consumer ethnocentrism
D) dissonance-reducing buying behavior
E) variety-seeking buying behavior
Lovelies is the leading workout and fitness center for women. The regional chain of
gyms has traditionally catered to women age 40 and older who are interested in strength
and cardiovascular training. Lovelies has recently begun promotions to bring younger
women into its gyms. This is an example of how the market leader ________.
A) competes with mature products
B) changes its product line
C) develops new rules
D) develops new users
E) increases competition
Experience-curve pricing assumes that ________.
A) competitors are weak and not willing to match price cuts
B) competitors are strong and invincible
C) aggressive pricing adversely affects product image
D) volume-based production slows down organizational learning
E) lower-cost technologies are almost always inferior
What is differentiation?
You are a manufacturer of tents, sleeping bags, and outdoor cooking equipment. How
might you go about creating brand experiences for your customers?
Explain what marketers can expect from individuals in the customer relationship group
classified as "butterflies."
Explain why some critics worry that American multinationals are causing countries
around the globe to lose their individual identities. Give an example of the
"Americanizing" of the world's cultures.
What is a product?
Explain how the growth of digital technology has transformed the way in which
companies conduct business today.
Describe the differences between chain stores and franchises.

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