Brand ________ answers the question “What should my brand stand for?”
A. personality
B. positioning
C. alliance
D. knowledge
E. architecture
When a customer lets a producer know something about its products or advertising, the
customer is providing ________.
A. decoding
B. noise
C. feedback
D. encoding
E. viral marketing
________ is the degree to which a customer will select a particular brand when a
purchase from the product category is being considered.
A. Customer satisfaction
B. Product championship
C. Customer lifetime value
D. Customer loyalty
E. Customer perceived value
Compare the strengths and weaknesses of the different types of broadcast media.
Customers of a ________ buy most of the store’s products in larger-than-normal
packages and quantities.
A. warehouse club
B. department store
C. specialty store
D. convenience store
E. superstore
Which type of store carries a deep assortment, has knowledgeable staff, and is a giant
specialty store?
A. category killer
B. superstore
C. department store
D. off-price retailer
E. discount store
When New Port Shipping uses segmented marketing, it targets several segments and
offers a unique product tailored to each one. This approach is called ________
marketing.
A. undifferentiated
B. differentiated
C. concentrated
D. individual
E. niche
Which form of marketing research is a series of discussions held between a trained
interviewer and individuals on a one-to-one basis?
A. structured interviews
B. online questionnaires
C. telephone surveys
D. ethnographic research
E. focus groups
A company’s process of creating value occurs ________ the selling process.
A) before
B) after
C) during
D) only before and during
E) before, during, and after
Which section of a marketing plan would most likely contain a break-even analysis?
A. measurement and controls
B. marketing situation
C. forecasting
D. marketing strategy
E. executive summary
A central assertion of ________ is that marketing techniques can be used to promote
causes and improve the lives of individuals and society.
A. sustainability
B. the social marketing concept
C. marketing ethics
D. consumerism
E. environmentalism
Which of the following functions is a marketing department LEAST likely to perform?
A) defining the brand
B) creating promotions
C) securing financing
D) creating a CRM process
E) establishing distribution channels
Sometimes a producer of luxury products chooses only one or a few dealers in a
territory to distribute its products in order to maintain a sense of prestige for the
products. Generally these dealers are given a right to ________ distribution.
A. exclusive
B. selective
C. intensive
D. administered
E. corporate
A product with a low perceived value is most likely to ________.
A. fall within the fair value zone on a value map
B. fall below the fair value line on a value map
C. have a high market share
D. have a low market share
E. have delighted customers
It is more challenging to collect information about customers in the ________ market
than in the ________ market.
A. business-to-business; consumer
B. business-to-business; consumer-to-business
C. consumer; business-to-business
D. consumer-to-business; business-to-business
E. consumer-to-business; consumer
To reduce inventory management costs, many companies use a system called
________, which involves having goods delivered exactly when they are needed.
A. reduction-inventory management
B. just-in-time inventory management
C. limited inventory logistics
D. supply chain management
E. economic order quantity
Refer to the scenario below to answer the following questions.
Herb Marks was making wooden writing utensils as a hobby until Mel Yoder
recognized Herb’s talent. Mel immediately ordered 250 pens and pencils of various
styles to be displayed in his shop’s showcase. Within three months, the writing utensils
were a hit! Herb Marks had never thought of marketing his talent, but Mel’s enthusiasm
and the recent sales were enough to change his mind.
With limited resources, Herb contacted three additional specialty shops within 100
miles. He explained his manufacturing processes and engraving options to each. All
three shops’ owners placed a trial order. Within two months, just prior to the holiday
season, each shop owner placed an additional order. Herb was ecstatic!
“I figured business would slow down after that,” Herb stated, “but in February I was
contacted by Elmore Distributors. At that point, I had to make a huge decision about
how far I wanted to go with this business.”
Elmore Distributors provided products for school fundraisers in a seven-state area. Herb
was offered a two-year contract and immediate inclusion in Elmore’s promotional flyer.
Herb Marks accepted the offer and, along with it, the responsibility to produce
thousands of wooden pens and pencils.
“I had to get a grip on the magnitude of this project!” Herb added. “I couldn’t grow out
of control. I was already working to capacity.”
Herb decided to place his major focus on the large contract with Elmore. However, to
avoid placing his total emphasis with one customer, Herb continued nurturing his four
previously established accounts without targeting any additional customers.
“At this point, I had set up an assembly line in a rented building,” Herb explained. “I
had to hire three full-time employees to work the line while I managed the customer
orders and purchased materials.” Herb paused. “But I can’t take the Elmore project for
granted. It might not always be there. I’ll have to have a good alternate plan if that day
comes.”
In marketing his writing utensils to his four specialty-shop customers, Herb is using
________ marketing.
A. mass
B. undifferentiated
C. niche
D. multisegment
E. individual
ABC Enterprises sold 9,000 units @ $2.99/unit in July. The firm sold 9,000 units @
$4.29/unit in August. This illustrates a(n)________ price.
A. derived
B. negotiated
C. fluctuating
D. elastic
E. inelastic
Your text suggests that business acquisition of a new brand is most common in the
________ industry.
A. real estate
B. luxury services
C. packaged goods
D. retail
E. hotel
Which type of distribution is used when the producer wants more than one, but fewer
than all, of the intermediaries who are willing to carry its products?
A. exclusive
B. selective
C. intensive
D. administered
E. corporate
A company’s mission statement would most logically be included in which section of
the marketing plan?
A. forecasting
B. marketing strategy
C. company description, purpose, and goals
D. measurement and controls
E. marketing situation
The collection of products, services, and their corresponding brands that make up a
company is called a ________.
A. marketing audit
B. mission statement
C. tactical plan
D. business portfolio
E. strategic plan
Which of the following is most likely to happen when a consumer does not perceive
that a product has utility?
A) The customer will not buy the product.
B) The customer will research the product before buying it.
C) The customer will buy the product without conducting research.
D) The customer will have a perceived need for the product.
E) The customer will not be influenced by marketing.
Which of the following are intermediaries that receive fees for facilitating transactions
in markets such as real estate, food, and insurance in which there are a lot of small
buyers and sellers?
A. manufacturers’ agents
B. selling agents
C. commission merchants
D. merchandise brokers
E. sale mediators
Sears opened up department stores in Mexico and Spain, where it found qualified local
manufacturers to produce many of the product it sells. This type of joint venture is
known as ________.
A. joint ownership
B. licensing
C. management contracting
D. indirect exporting
E. contract manufacturing
Another name for a reseller’s brand is a ________.
A. national brand
B. private label brand
C. generic brand
D. manufacturer brand
E. licensed brand
Which of the following has the lowest relative cost of all quantitative research data
collection options?
A. mail questionnaires
B. personal interviews
C. focus groups
D. online questionnaires
E. ethnographic research
A company with no investment outside its home country other than the direct purchase
of products and services is referred to as a(n) ________ company.
A. international
B. outsourced
C. offshored
D. multinational
E. global
Which of the following is NOT a type of traditional financial data?
A. profit margin
B. brand awareness
C. accounts payable
D. accounts receivable
E. revenue
Brand awareness and market share are both examples of ________.
A. data analytics
B. hurdle rates
C. marketing metrics
D. CRM indicators
E. return on marketing investment rates
Of the elements of the marketing mix, ________ is most closely linked with revenue.
A. price
B. promotion
C. product
D. place
E. positioning
Which of the following is NOT a step in the strategic planning process?
A. establish the business mission
B. define the business objectives
C. develop the business portfolio
D. identify the business vision
E. evaluate all members of the supply chain