A lateral partnership is a strategic relationship that involves direct buyer-seller
interactions.
a. True
b. False
Marketers can use grassroots marketing approach to develop long-lasting, individual
relationships with loyal customers.
a. True
b. False
The method of analyzing the relationship among costs, sales price, and increased sales
volume is called _____.
a. breakeven analysis
b. tariffs
c. unfair-trade laws
d. incremental-cost pricing
e. profit maximization
f. demand
g. value pricing
h. monopoly
i. elasticity
j. marginal
k. fair-trade laws
l. yield management
m. oligopoly
n. cost-plus pricing
o. full-cost pricing
p. supply
q. marginal analysis
r. target-return objectives
s. market-share objectives
t. pure competition
Which of the following elements of a print advertisement contains the company name,
address, web address, slogan, trademark, logo, or names the sponsoring organization?
a. Slogan
b. Headline
c. Illustration
d. Signature
Which law protects intellectual property rights by prohibiting the copying or
downloading of digital files?
a. The Real ID Act
b. The Electronic Signature Act
c. The Digital Millennium Copyright Act
d. The Identity Theft and Assumption Deterrence Act
Marketing myopia occurs when management fails to recognize the scope of its
business.
a. True
b. False
Psychographic segmentation is not an exact science. While it helps to paint an overall
picture of the psychological motivations of consumers, those motivations are influenced
by countless variables, such as family, occupation, and culture. Select the statement
below that gives an accurate description of the effective use of psychographic
segmenting.
a. Psychographic segmenting is most effective when applied to domestic markets
because global cultures are so varied.
b. Psychographic segmentation is effective when it helps to match a company’s product
offering with the types of consumers who use its products.
c. Psychographic segmenting becomes less effective if it links consumer social values
with buying behavior.
d. AIO statements are the least popular segmenting tool because they present the
consumer with an overwhelming amount of information.
e. Psychographic segmenting is less effective when it is combined with such other
segmenting approaches as demographic and geographic approaches.
Which of the following is one of the fundamental steps in the marketing strategy
process on which a retailer bases its key decisions?
a. Selecting a target market
b. Stipulating a minimum profit margin
c. Determining the store location and atmosphere
d. Determining the method of inventory management
The price normally quoted to potential buyers before any discounts or allowances are
allowed is called the _____ price.
a. market
b. list
c. cash
d. trade
Brad is a pharmaceutical representative for Merck. He attends a medical conference
where he gives a presentation about a new drug that is being manufactured by his
company. Brad’s presentation is a part of Merck’s IMC effort and it represents:
a. encoding of the product message.
b. decoding of the product message.
c. feedback for the promotional message.
d. noise generated by the promotional message.
ABC Corp., a mining equipment manufacturer, provides loaders and feeder breakers for
Ground Works, a mining company. ABC Corp. regularly sends information on new
products as well as on upgrades for old products to the management in Ground Works.
ABC Corp relies on _____ to sell its products.
a. direct channels
b. industrial distributors
c. manufacturer’s representatives
d. franchisers
Customer win-back is a customer relationship management strategy that focuses on
acquiring new customers.
a. True
b. False
The cohort effect describes:
a. why members of the same psychographic group decide to vote the same way and
have a lot of similarities in their choices.
b. how Generation X uses its financial power to influence product trends, and gets
closely followed by the marketers.
c. the effect of demographic characteristics in analyzing purchase habits, product usage
rates, and brand preference.
d. the tendency of members of a generation to be influenced and bound together by
events occurring during their key formative years.
The marketing team at Neptune Networks has recently rolled out its social media
marketing plan and is trying to measure the impact of its campaign by tracking the
social media platforms that were used for this purpose. The marketing team is using a
few entrylevel tools to track the blogs, the online communities, and also the firm’s
Facebook and Twitter accounts. This process of tracking and evaluating a firm’s SMM
initiatives is known as _____.
a. content marketing
b. social media monitoring
c. digital marketing
d. search marketing
A market condition where relatively few producers compete because of barriers like
high startup costs that restrict entry is called a(n) _____.
a. environmental scanning
b. environmental management
c. competitive environment
d. timebased competition
e. economic environment
f. demarketing
g. consumerism
h. marketing ethics
i. social responsibility
j. green marketing
k. oligopoly
l. gross domestic product
m. planned obsolescence
n. inflation
o. socially responsible marketing
p. politicallegal environment
q. VoIP
r. discretionary income
s. antitrust
t. strategic alliance
_____ refers to the responsibility of manufacturers and marketers for injuries and
damages caused by their products.
a. trade dress
b. brand preference
c. brand insistence
d. generic product
e. family brand
f. brand equity
g. product diversification
h. trademark
i. brand extension
j. consumer innovator
k. brand name
l. private brand
m. brand manager
n. universal product code (UPC)
o. cannibalization
p. product liability
q. captive brand
r. brand mark
s. line extension
t. label
A discount house offers fewer services to its customers.
a. True
b. False
Achieving organizational objectives by predicting and influencing the competitive,
politicallegal, economic, technological, and socialcultural environment is referred to as
_____.
a. research and development
b. marketing research
c. environmental management
d. SWOT analysis
A bill passed by the government stipulates the mandatory use of revised engine
mapping and particulate filters in the automobile industry. Which of the following
factors of the marketing environment has affected the automobile industry in this
scenario?
a. competitive
b. politicallegal
c. economic
d. socialcultural
Enterprise RentACar has invested in new equipment to reduce their carbon footprint
and conserve energy. A large percentage of Enterprise’s airport shuttle buses use cleaner
fuel such as biodiesel. Focusing on reducing their carbon footprint is one way that
Enterprise is demonstrating __________.
a. social responsibility
b. carbon dating
c. environmental consciousness
d. strategic conservation
Travel Time is an online travel site that assists customers in booking their holidays.
They make advance bookings for the customers, they also notify them about a reduction
in air fares immediately so to that it can offer the lowest fare to the customers. It also
helps the customers to check the status of their booking online. This type of marketing
strategy employed by Travel Time is an example of:
a. righttime marketing.
b. integrated marketing.
c. search marketing.
d. real time marketing.
A person’s perception of a product results solely from its physical characteristics such
as size, color, shape, and weight.
a. True
b. False
Which of the following products is most likely to have a long distribution channel?
a. Oil rig
b. Jet engine
c. Farm produce
d. Office stationery
Group membership influences an individual’s purchase decisions and behavior in both
overt and subtle ways.
a. True
b. False
The _____ principle recognizes that a large percentage of a product’s revenue stream is
generated by a relatively small, loyal portion of total customers.
a. 80/20
b. Pareto
c. parity
d. loyalty
Market segmentation can help marketers increase their accuracy in reaching the right
markets, but it is best used flexibly with other marketing tools. Choose the statement
below that best summarizes the market segmentation process.
a. Market segmentation can be applied in both for-profit and nonprofit organizations to
determine a consumer target market.
b. Market segmentation is accomplished in four steps: it employs user profiles;
forecasts the overall market; estimates the market share; and selects specific target
markets.
c. Market segmentation can be accomplished with many approaches: geographic,
demographic; psychographic, and product-related.
d. Market segmentation methods can be management-driven, based on management’s
observations, or market-driven, based on customer response.
e. Market segmentation can be used to calculate a lifetime value for each customer in a
segment.
A major state university has noticed a decline in students selecting philosophy as a
major and is interested in learning more about this issue. They hire a marketing research
student as an intern who conducts informal interviews with faculty in the philosophy
department as well as freshman students living in residence halls to gain insight into
this phenomenon. What type of research is the intern engaging in?
a. exploratory
b. descriptive
c. analysis
d. forecast
All companies follow a standard format for social media marketing plans.
a. True
b. False
Brand insistence is a company’s first objective for newly introduced products.
a. True
b. False
Procter and Gamble is seeking to target women aged 18-to-34 to influence their
purchasing of shampoo and bath gels. They selected the television network ABC
Family and specifically airs commercials during the “Pretty Little Liars” time slot.
Which criteria of effective segmentation is Procter and Gamble utilizing?
a. ability to effectively promote to the market segment
b. the market segment represents measurable purchasing power
c. the segment matches Procter and Gamble’s marketing capabilities
d. the segment is sufficiently large to provide good profit potential
How can emarketers increase the sale of their products through their websites?
Give three characteristics of a corporate culture that encourages ethical behavior. Why
is it important for salespeople to maintain ethical behavior?
Discuss cost-plus pricing.
Explain the origins of the era of big data in marketing research.
Explain the concept of retail convergence. Give an example.
What is family lifecycle? Why do marketers segment their markets by family lifecycle
stages?
Explain how interactive television helps marketers collect data required for database
marketing.
Briefly describe the various steps involved in the sales process.
What is comparative advertising and who are its users? How do federal regulators view
comparative advertising?
What are the problems associated with product-line pricing?
Describe the three approaches to product-related segmentation.
Discuss the importance of feedback in the communication process in the context of
promotional messages.
How do companies measure the success and efficiency of their social media marketing
plan?
Discuss the three types of vertical marketing system.
Discuss the relationship between price and consumer perceptions of quality.
Describe the different sources of internal data within firms.
How does the measure of effectiveness of a website differ with type of the website?