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Heather has been assessing a number of her firm's products using the Boston Consulting
Group (BCG) approach to portfolio analysis. She has been trying to assess the strength
in a particular market and is looking at the sales of the product and the overall market as
well as the sales of competitors. Heather is trying to determine
A. the product's relative market share.
B. the market growth rate.
C. a source of competitive advantage.
D. the impact of population shifts on future demand.
E. cash equivalent values for each product.
Answer:
When a pharmaceutical company develops a new medication, it typically applies for a
patent in order to prevent competitors from developing copycat products for several
years. Pharmaceutical companies apply for patents to establish
A. an operational excellence macro strategy.
B. a market penetration growth strategy.
C. a sustainable competitive advantage.
D. an efficient supply chain.
E. product efficiency.
Answer:
The right communication channel to use in IMC is
A. the traditional channel used in that particular retail sector.
B. network advertising, local newspapers, and regional radio stations.
C. the one that will connect to the desired recipients.
D. the one with the best encoding capabilities.
E. the one that maximizes decoding difficulty.
Answer:
Julia wants her firm's gourmet snacks to be the leading brand in the U.S. market. When
adopting a pricing strategy designed to gain market share, she should remember that
A. rarely is the lowest-price offering the dominant brand in a market.
B. prestige products need to be competitively priced.
C. companies can gain market share by offering low-quality products at a high price.
D. total value equals total cost minus variable costs leading to price escalation.
E. price wars are the way to become the dominant brand.
Answer:
In the United States, most consumer packaged goods found in grocery and discount
stores are in the __________ stage of the product life cycle.
A. growth
B. pioneer
C. introduction
D. decline
E. maturity
Answer:
In a(n) _______ marketing channel, one or more intermediaries work with
manufacturers to provide goods and services to customers.
A. indirect
B. vertical
C. horizontal
D. simple
E. direct
Answer:
Effective service recovery entails all of the following except
A. listening to the customer.
B. estimating the damage.
C. providing a fair solution.
D. resolving the problem quickly.
E. involving customers in the service recovery where possible.
Answer:
Naomi is the IMC manager for a chain of regional income tax service providers.
Franchisees pay a percentage of their revenue to an IMC account allocated to her. As
she establishes the short-term goals for her firm's IMC efforts, her goals are likely to
include
A. expanding customer loyalty by closing the feedback loop.
B. increasing market share, sales, and customer loyalty.
C. increasing inquiries, awareness, and trial of her firm's services.
D. shifting customers to rule-of-thumb budgeting.
E. increasing the lagged effect.
Answer:
The app Vine allows users to share mini-movies on Twitter, satisfying the primary
motivation of the need
A. to discover.
B. to socialize.
C. to accomplish.
D. for preparation.
E. for self-expression.
Answer:
Because it was able to deliver merchandise overnight, in the required quantities and at a
lower delivered cost than its competitors, Joe's Sports Shack was given exclusive rights
to sell clothing with school logos for the school district. Joe's demonstrates ________
excellence.
A. product
B. place
C. customer
D. operational
E. locational
Answer:
Janice was disturbed to find that the real estate company she had just started working
for did not have a(n) __________, the starting point for creating a strong ethical
climate.
A. ethical behavior seminar
B. set of ethical values
C. employment contract
D. social responsibility program
E. ethical activity bonus
Answer:
Ted is glad his company finally converted to an RFID system. Now, he no longer needs
to go through all the new goods to make sure what they ordered was what they
received. Ted is responsible for __________ in his company.
A. checking
B. dispatching
C. receiving
D. JIT
E. quick response
Answer:
When Burroughs Wellcome introduced the first anti-AIDS drugs, it initially set the
price at $10,000 for a year's supply. Burroughs Wellcome was probably pursuing a(n)
__________ pricing strategy.
A. skimming
B. introductory
C. slotting allowance
D. market penetration
E. cost-based
Answer:
A(n) __________ distribution intensity helps a seller maintain a particular image and
control the flow of merchandise into an area.
A. intensive
B. widespread
C. selective
D. collective
E. variable
Answer:
The owners of hotels whose services are produced and consumed at the same time
know that consumers do not have the opportunity to try out their service before
purchasing. Many hotels use __________ to overcome the problem of inseparability of
services.
A. promotional discounts
B. zone of tolerance allowances
C. perishability gap analysis
D. point-of-purchase displays
E. satisfaction guarantees
Answer:
While training for her new job as a pharmaceutical sales representative, Mallory spent
several days shadowing an experienced company rep. She watched the rep focusing on
the benefits of the new drugs while not volunteering pricing information, side effects, or
comparison data. Mallory assumed that this reflected part of the pharmaceutical firm's
A. buying center.
B. culture.
C. mission statement.
D. corporate social responsibility.
E. RFP process.
Answer:
When John checked into his Orlando hotel, the front desk clerk informed John that his
room would not be ready for another 20 minutes. John didn't mind waiting; he had
arrived well ahead of the standard check-in time and this wait time fell within his
__________, the area between his expectations regarding desired service and the
minimum level of service he will accept.
A. zone of tolerance
B. delivery gap
C. zone of intolerance
D. service gap
E. patience zone
Answer:
Although a sales representative may skip a step in the personal selling process or might
sometimes have to go back and repeat steps, there is logic in the sequence. Which of the
following would not be appropriate in the personal selling process?
A. Before a salesperson can work through the preapproach, leads must be qualified.
B. The customer's reservations must be addressed before closing the sale.
C. Closing the sale is the finaland most satisfyingpart of the process.
D. Carefully working through the preapproach will make the next stepthe sales
presentationmore effective and efficient.
E. Follow-up may include additional sales for the representative.
Answer:
When Magda decided to buy a new computer, she considered all the brands she could
recall seeing advertised. This represents Magda's __________ set.
A. universal
B. retrieval
C. evoked
D. deterministic
E. behavioral
Answer:
Because PSAs are a special class of advertising, FCC rules require
A. consumers to listen to them.
B. court approval before they are aired.
C. all advertisers to contribute to them.
D. broadcasters to devote a specific amount of free airtime to them.
E. that they use only the informative or reminder advertising appeals.
Answer:
During which phase of the marketing planning process does a firm identify and evaluate
different opportunities by engaging in segmentation, targeting, and positioning?
A. planning phase
B. implementation phase
C. evaluation phase
D. control phase
E. strategy phase
Answer:
In _______ many firms provide similar products that are considered substitutes for each
other.
A. pure competition
B. oligopolistic competition
C. monopolistic competition
D. a monopoly
E. a duopoly
Answer:
Brad always buys and uses Nike brand golf balls. If he finds a Titleist or Callaway ball
in the rough, he gives it away. Brand-loyal golfers like Brad allow Nike to charge a
higher price and not lose many sales. By building a strong brand, Nike has effectively
A. increased the income effect for its products.
B. increased the cross-price elasticity for its products.
C. focused on the competitive parity point for its products.
D. shifted the golf ball market from a monopoly to pure competition.
E. reduced the price elasticity of demand for its products.
Answer:
While demographic and geographic segmentation of retail customers are relatively easy,
these characteristics do not help marketers determine
A. how old their customers are.
B. what their customers need.
C. where their customers live.
D. which customers have young children.
E. what income brackets their customers are in.
Answer:
Jami sells construction equipment. Whenever she calls on her building contractor
customers, she asks if they are having any problems. In doing so, Jami is addressing
which of the following core aspects of marketing?
A. satisfying customer needs and wants
B. completing the exchange function of marketing
C. making product, place, promotion, and price decisions
D. making decisions about the setting in which marketing takes place
E. creating value
Answer:
Before going on his first business trip to China, Brad asked his Chinese American
friend to advise him on customs and values common among the Chinese businesspeople
he will likely encounter. Brad is trying to avoid __________ business blunders.
A. reference group
B. situational
C. cultural
D. cognitive
E. evoked
Answer:
A generational cohort is a group of people
A. who share similar ethnic characteristics.
B. who grew up and went to school together.
C. with the same beliefs and values.
D. who are of the same generation.
E. who are not open to new things.
Answer:
Mattel wanted to determine if a new toy would appeal to preschoolers, so it put six
4-year-olds in a room with several toys and waited to see which ones they played with.
What form of research is this?
A. experiment
B. focus group
C. observation
D. neuromarketing
E. panel
Answer:
Which of the following is not one of the four criteria used for determining how "good"
a brand is, or how much equity it has?
A. brand awareness
B. brand loyalty
C. brand associations
D. brand conceptualization
E. perceived value
Answer:
After identifying various market segments that her company could pursue, Lisa
evaluated each segment's attractiveness based on size, income, and accessibility. Lisa
was involved in
A. target marketing.
B. situation analysis.
C. diversification.
D. positioning.
E. market penetration estimation.
Answer:
What aspect of the product is being described when a used car salesperson explains that
each car comes with a one-year extended warranty and a two-year maintenance plan?
A. actual product
B. associated services
C. product style
D. product position
E. product concept
Answer:
