Advertisements basically consist of two types: __________ and __________.
a. re-purchase; postpurchase
b. promotional; reinforcement
c. promotional; informative
d. product; service
e. product; institutional
Answer:
The view that holds customers will abandon their efforts to enter and navigate a website
if download time exceeds eight seconds is referred to as __________.
a. the stickiness guideline
b. the 80/20 principle
c. the eight-second rule
d. the law of limited patience
e. the expedience factor
Answer:
Using an existing brand name to introduce a product that is new to the company into a
totally new, unfamiliar market seems like a good idea. This is what Harley-Davidson
magazine did when it introduced __________, and it failed quickly.
a. aspirin
b. yogurt
c. disposable underwear
d. soda (soft drink)
e. perfume
Answer:
Reflecting on the research study of over 200 management tools and techniques, which
of the following companies is used as an example of a firm that excels based on a
“clearly stated, focused strategy?”
a. Costco
b. Sam’s Club
c. Coca-Cola
d. Smucker’s
e. Toyota
Answer:
The concept underlying Bitter Girls focuses on
a. the most-popular-girl-in-her-high-school-class model.
b. bringing introverted girls out of their shells.
c. increasing the assertiveness of shy girls.
d. a message that is uplifting and empowering for girls.
e. the least-popular-girl-in-her-high-school-class model.
Answer:
Levi’s Japan has launched an all-new service catering to those looking to tailor their
own denim. Hitting nine stores nationwide, the process allows customers to choose
different elements, including cuts (502 regular wide, 505 regular wide, 517 boot cut),
coloration (dark used, mid used), button and rivet colors (gold, silver, bronze), inseam
length and extra treatments (sanding, paint drips). From start to delivery takes about a
month’s time. This is an example of _________, or the third reason why consumers buy
online.
a. control
b. cost
c. choice
d. customization
e. convenience
Answer:
Magazines like Fitness, Field & Stream, Golf Digest, and Health all use a __________
segmentation strategy.
a. psychographic
b. behavioral
c. situational
d. socioeconomic
e. geographic
Answer:
Disney uses an integrated marketing communications program (IMC) to promote group
travel to its theme parks because
a. its strategy includes using all types of promotional activities that deliver a consistent
message.
b. it does not want to reach any member of its target audience more than once to
conserve resources.
c. IMC is less expensive than other forms of promotion such as public service
announcements.
d. if it didn’t, Disney would have to use indirect personal selling.
e. it is more concerned about frequency of attendance than geographic reach.
Answer:
The competitive market situation in which the few sellers are sensitive to each other’s
prices is referred to as
a. pure monopoly.
b. oligopoly.
c. monopolistic competition.
d. pure competition.
e. oligopolistic competition.
Answer:
Occasionally, prices may rise later in the product’s life cycle. This is often due to
a. new competitors entering the market.
b. production economies of scale.
c. a decrease in the price of raw materials.
d. nostalgia and fad factors.
e. the type of competitive market shifts from pure monopoly to pure competition.
Answer:
When Daniel was hired to work for Bush Refrigeration Company, he was told, “The
sales training program is 18 weeks, and we”ll pay you $750 per week during that time.”
While in training, the company used a __________ compensation plan to compensate
Daniel for his time and effort.
a. sales response
b. combination
c. straight salary
d. straight commission
e. market share
Answer:
A subsidiary, division, or unit of an organization that markets a set of related offerings
to a clearly defined group of customers is referred to as a
a. strategic business unit.
b. strategic industry level.
c. private corporation.
d. product grouping.
e. marketing department.
Answer:
Multiple-zone pricing refers to
a. establishing a distribution center in each major geographical region or zone in which
a firm’s product is sold.
b. establishing retail outlets in the same vicinity as all of the firm’s manufacturing
plants.
c. a firm’s decision to charge the same price regardless of geographic regions or zones
where it operates.
d. a firm’s division of its selling territory into geographic areas or zones.
e. a firm’s decision to divide its business between multiple carriers to provide flexibility
should transportation prices rise with one and fall with another.
Answer:
Which of the following is NOT a strategy used by marketers of high-involvement
offerings?
a. use personal selling to provide consumers with information
b. use social media to create online experiences for the brand
c. avoid stockout situations so that buyers don”t substitute a competing brand
d. use Internet search engines such as Microsoft Bing and Google to assist buyers
e. run ads to provide consumers with information
Answer:
Registration under the Lanham Act provides important advantages to a trademark
owner that has used the trademark in interstate or foreign commerce, but it does not
a. allow a trademark to be used for more than 83 years.
b. provide reciprocity with foreign firms allowing their trademarks to be honored here.
c. prevent other firms from obtaining similar trademarks for significant improvements
of the original product.
d. guarantee protection under the Trademark Law Revision Act.
e. confer ownership.
Answer:
Three different objectives relate to a firm’s profit, which is often measured in terms of
return on investment. One objective, known as _________, is when a company gives up
immediate profit in exchange for achieving a higher market share in the hopes of
penetrating competitive markets.
a. maximizing current profit
b. target return
c. break-even strategy
d. minimizing risk
e. managing for long-run profits
Answer:
Figure 1.
Figure 1. above outlines the distribution channels through which a product
manufactured in one country must travel to reach its destination in another country.
Channels within a foreign nation can be very long or surprisingly short. Which letter in
the figure represents these channels?
a. “A”
b. “B”
c. “C”
d. “D”
e. “E”
Answer:
Figure 1.
Figure 1. above represents the six steps in the price-setting process. Which letter
represents the step where a firm would consider discounts, allowances, and
geographical adjustments to arrive at the final price?
a. “B”
b. “C”
c. “D”
d. “E”
e. “F”
Answer:
Ten general product and service categories dominate online consumer buying today and
in the foreseeable future. One category includes items where
a. digital delivery is an important factor as well as post-purchase support services.
b. price and speed of delivery are the determinant sales factors.
c. convenience is very important, even more so than price or quality.
d. product information is an important part of the purchase decision but prepurchase
trial is not necessarily critical.
e. price and delivery time are not key factors, but product warranties are very important.
Answer:
Figure 1.
There are three concepts of social responsibility, each relating to particular
constituencies. According to Figure 1. above, “A” represents __________
responsibility.
a. societal
b. stakeholder
c. profit
d. customer
e. seller
Answer:
The promotional objective of the growth stage of the product life cycle is to
__________ consumers.
a. inform
b. remind
c. update
d. persuade
e. hark back
Answer:
Suppose the following: The cost of a full-page color ad in the U.S. national edition of
The Wall Street Journal (newspaper) is $312,286 and its U.S. audience size is
1,613,062. The cost of a full-page color ad in the U.S. national edition of USA Today
(newspaper) is $207,720 and its U.S. audience size is 1,778,934. The cost of a full-page
color ad in the U.S. national edition Bloomberg Businessweek (magazine) is $156,900
and has an audience size of 980,000. The cost of a full-page color ad in the U.S.
national edition Sports Illustrated (magazine) is $238,000 and has an audience size of
3,150,000. The cost of a 30-second ad on the most recent Super Bowl (television) is
$3,250,000 and has an audience size of 112,500,000. Using this information, which has
the LOWEST CPM of the five alternatives?
a. The Wall Street Journal
b. USA Today
c. Bloomberg Businessweek
d. Sports Illustrated
e. Super Bowl
Answer:
A target market refers to
a. customers who have already purchased a firm’s product at least once, have been
satisfied, and are likely to be repeat purchasers.
b. both existing and potential customers who have used a competitor’s product, are
dissatisfied, and who now seek a different product or service to satisfy their needs.
c. a specific group of current consumers toward which an organization directs its
advertising.
d. one or more specific groups of potential consumers who are seeking a product for
which there are no current substitutes.
e. one or more specific groups of potential consumers toward which an organization
directs its marketing program.
Answer:
When buying a car, __________ may result in discriminatory practices.
a. fixed pricing
b. a one-price policy
c. a flexible-price policy
d. target return-on-sales pricing
e. “no haggle” pricing
Answer:
It is time for the Ramirez family to plan its annual vacation. The father wants to stay
home this year and use the vacation money to work on the house. The paternal
grandmother who lives with them wants to visit relatives in New York. The father asks
his mother to determine how much a trip to New York would cost the family and if they
could stay with relatives while they were there. The mother and the daughter, Mary,
want to go to the beach. Which of the following sentences best describes the roles each
family member played in making this decision?
a. There is no family member serving as an information gatherer.
b. The only role played by the mother and the grandmother is influencer.
c. The females in the family only play two rolesusers and influencers.
d. Since the father will make the final vacation decision, he has taken on all of the roles.
e. The grandmother plays the roles of user, influencer, and information gatherer.
Answer:
CPM Marketing Dashboard
According to the CPM Marketing Dashboard above, the CPM for Bloomberg
Businessweek would be approximately
a. $11.
b. $27.
c. $119.
d. $155.
e. $224.
Answer:
Any activity that uses some form of electronic communication in the inventory,
exchange, advertisement, distribution, and payment of goods and services is referred to
as __________.
a. electronic commerce
b. Internet barter
c. intranet commerce
d. electronic exchange
e. extranet commerce
Answer:
Which of the following statements best reflects the guideline for having complete and
feasible plans?
a. “The eyeglass cases will come in both hard and soft holders, in multiple colors, and
we”ll give them a mid-range price. They”re cute enough that we might be able to cut
back on advertising.”
b. “Ideally, we should release the e-book immediately after the hard cover book comes
out, but it would mean redirecting resources away from the tour.”
c. “Our research shows the most efficient way to distribute the product is through rack
jobbers, but at this point we don”t know how price sensitive the market is.”
d. “If we want to sell designer clothing for eleven fashion dolls, we need to keep prices
close to the $20 range, including shipping and handling. Since the target market
consists of women over 40 who use the dolls in home decorating, we need to budget
funds to run ads in design magazines.”
e. “Most people say they want more soy based products; if we could corner the soy
market, we might be able to prevent the competition from entering the game.”
Answer:
All of the following are criteria used for forming market segments EXCEPT:
a. difference of needs of buyers among segments.
b. potential for increased profit.
c. cost of reaching the segment.
d. potential of a marketing action to reach a segment.
e. simplicity and cost of assigning potential buyers to segments.
Answer:
Figure 1.
Figure 1. above represents the six steps in the price-setting process. Which letter
represents the step where a firm would use a cost-oriented approach to setting price?
a. “B”
b. “C”
c. “D”
d. “E”
e. “F”
Answer:
Explain predatory pricing.
Answer:
What are the marketing mix elements that compose a cohesive marketing program?
Answer:
Briefly describe the World Trade Organization (WTO) and its purpose.
Answer:
Figure 1.
What are the five stages of the organizational buying process?
Answer:
The promotion decision process is divided into (1) developing, (2) executing, and (3)
evaluating the promotion program. Development of the promotion program focuses on
the four Ws. What are they?
Answer:
What are the strengths/advantages and weaknesses/disadvantages of using advertising
in the promotional mix?
Answer:
Global marketing is also affected by economic considerations. Identify the three steps
that should be performed when scanning the global marketplace.
Answer:
Companies are just beginning to use Twitter as a tool in their relationship marketing
programs. In what ways could Twitter benefit both customers and organizations?
Answer:
What four factors are required for marketing to occur?
Answer:
What is a panel? How is it used in marketing research? What disadvantage is associated
with its use?
Answer:
What does it mean when we say services are intangible. How do marketers of services
overcome the problems associated with intangibility?
Answer:
What are the primary differences between an ultimate consumer and an organizational
buyer? Select one product and explain the differences in either its use or purchase,
depending on whether it was purchased by an ultimate consumer or an organizational
buyer.
Answer:
What is the difference between a coupon and a deal?
Answer:
What is the basic difference between primary and secondary data, and what are the
advantages and disadvantages of each?
Answer:
Explain what occurs during the closing stage of the selling process and list the three
types of close.
Answer:
What is a buying center? In what type of business would a buying center most likely be
found?
Answer:
An increasing percentage of turkeys are now being marketed as “free range.”
Consumers typically pay $1 more per pound for free-range turkeys, which are thought
to have lived more humane livesand as a result, to taste better than
conventionally-raised turkeys. The USDA defines a free-range bird as one that has been
allowed “access to the out-of-doors.” Are turkey growers who allow their birds to
access the out-of-doors only moments before they are killed acting socially responsible?
Answer:
Why are vending machine prices often higher than those in a retail store?
Answer:
Figure 1.
Using Figure 1. above, identify and explain the five environmental forces (“A,” “B,”
“C,” “D,” and “E”) that affect an organization.
Answer:
An inventor designs a scissors that has interchangeable blades that allow the user to
switch from straight cuts to decorative cuts. Identify two possible target markets and
justify your answer.
Answer: