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The process of determining an organization’s primary objectives and adopting courses
of action that will achieve these objectives is known as _____.
a. planning
b. marketing planning
c. strategic planning
d. tactical planning
e. cash cows
f. first mover strategy
g. SWOT analysis
h. strategic window
i. marketing mix
j. product strategy
k. strategic business units
l. Porter’s Five Forces
m. marketing strategy
n. dogs
o. stars
p. annual growth rate
The advent of a strong buyer’s market created the need for consumer orientation by
businesses.
a. True
b. False
Skimming pricing strategies are also known as “market-plus pricing.”
a. True
b. False
Consumers are more likely to experience cognitive dissonance when:
a. the purchase has been made at discount prices.
b. the purchase decision has potential economic consequences.
c. the purchased product has routine uses.
d. the product company offers excellent after-sales service.
Your company specializes in manufacturing oversized spa-type bathtubs for the
residential market. You have long been a proponent of using a modified breakeven
analysis. You think that this approach is essential to your company's success because
you operate in the luxury-item marketplace.
Required:
Which of the following situations is the result of a trend that would prompt you to use a
modified breakeven analysis rather than the traditional model?
a. You find that consumer demand is affected by environmentalists' cautions about
water usage.
b. You find that the price of advertising has been affected by the move to online
publishing.
c. Your employees are due for a significant salary and benefits increase to match those
offered by your competitors.
d. The landlord of your manufacturing facility has announced a sizeable rent increase to
cover earthquake readiness.
e. You have had an increase in the cost of raw materials, which are based on
petroleum-derived products.
A bundle of physical, service, and symbolic attributes designed to satisfy a customer’s
wants and needs is called a(n) _____.
a. marketing mix
b. specialty products
c. product
d. services
e. convenience products
f. impulse goods
g. installations
h. wholesalers
i. business-to-business (B2B)
j. supplies
k. emergency goods
l. shopping products
m. component parts and materials
n. staples
o. product mix
p. product line
q. line extension
r. total quality management
s. product lifecycle
t. benchmarking
Forever 21 is a popular fashion clothing company for women and often attracts
customers to its website or retail stores by posting pictures to its Facebook and
Instagram account. Forever 21 has over 10 million followers on Instagram and over 13
million on Facebook. What marketing era best describes Forever 21 and its approach to
marketing activities?
a. social
b. marketing
c. sales
d. production
Logistics is the process of coordinating the flow of information, goods, and services
among members of the distribution channel.
a. True
b. False
A seller’s market is one in which there are more goods and services than people willing
to buy them.
a. True
b. False
In level 1 of relationship marketing, purchasers on a company’s relationship marketing
continuum receive specialized services and value-added benefits that may not be
available from another firm.
a. True
b. False
In business markets, discounts and distribution functions have proven to be ineffective
in obtaining or keeping institutions as customers.
a. True
b. False
Adam Brooke is the superintendent for a school district and is responsible for making
purchasing decisions for the district. He has met with the technology staff and is
reviewing proposals from vendors to replace the computers in the labs. The district has
purchased computers in the past and has considerable knowledge about buying
computers. However, the technology continues to evolve and Adam is willing to devote
time to the decision so he and the staff can make the best decision on behalf of the
district, teachers and students. What type of buying decision does this situation
describe?
a. modified rebuy
b. new-task
c. straight rebuy
d. limited reorder
When marketers apply quantity control standards, they are:
a. engaging in the process of exchange.
b. reducing the need for purchasers to inspect each item they purchase.
c. determining the amount an individual will be allowed to buy on credit.
d. developing channels of distribution for a product.
Kiddie Car Inc. offers transportation between home, school, and activities to children
whose parents are unavailable to drive them. The company charges much less on
weekends than during the week. This reflects the ______ of Kiddie Car's services.
a. Intangibility
b. Perishability
c. Inseparability
d. Standardization
e. Positioning
Computer technology has had little impact on the marketing research process.
a. True
b. False
The business department in Skandsoft Technologies, a computer software company,
consists of technically trained, nonmarketing experts such as engineers or programmers.
A salesperson continues to play the lead role in most sales situations while technical
experts add value to the sales process. Which form of personal selling is being used by
this organization?
a. Consultative selling
b. Team selling
c. Cross-selling
d. Inside selling
Firms with high fixed costs often expand their markets, quoting the same prices to all
customers regardless of shipping expenses, under the plan called:
a. zone pricing.
b. freight absorption pricing.
c. uniform-delivered pricing.
d. the basing-point system.
Which of the following is true of pipelines as a transportation alternative?
a. They provide the most efficient way for moving bulky commodities over long
distances.
b. They control the largest share of the freight business as measured by ton-miles.
c. They can accommodate shipments of only a small number of products.
d. They represent the fastest method of transportation of products especially crude oil.
You are explaining the elements of your bookstore's marketing strategy to a summer
intern. Which of the following do you include?
a. A target market of adults 1862
b. A wide array of bestselling fiction and nonfiction titles
c. Prices competitive with online sellers
d. Low employee turnover
e. Advertising in local newspapers
A VMS that achieves channel coordination when a dominant channel member exercises
its power is called a(n) _____.
a. distribution channel
b. forward integration
c. logistics
d. dual distribution
e. direct selling
f. intensive distribution
g. selective distribution
h. exclusive distribution
i. tying agreement
j. backward integration
k. administered marketing system
l. corporate marketing system
m. contractual marketing system
n. private carriers
o. materials handling system
p. franchise
q. common carriers
r. upstream management
s. suboptimization
t. downstream management
Which of the following is a limitation of secondary data not found in primary data?
a. It is more expensive to collect and analyze than primary data.
b. It is not readily accessible for marketers.
c. It may not be completely relevant to the specific needs of the marketer.
d. It is usually in the form of raw data and hence not reliable.
The demographics of people living in the United States continues to diversify and
several groups - Hispanics, African Americans, and Asians represent the largest
_______.
a. subcultures
b. target markets
c. segmented populations
d. micromarket
Majority of the Hispanic population in the United States originate from _____.
a. Brazil
b. Peru
c. Cuba
d. Mexico
_____ are marketing efforts that connect directly with existing and potential customers
through nonmainstream channels.
a. strategic alliance
b. relationship marketing
c. cobranding
d. frequency marketing
e. value chain
f. database marketing
g. exponential smoothing
h. customer relationship management
i. trend analysis
j. internal customers
k. comarketing
l. quick-response merchandising
m. affinity program
n. lifetime value of a customer
o. Delphi technique
p. national account selling
q. transaction-based marketing
r. customer churn
s. buzz marketing
t. grassroots marketing
Which of the following best describes the function of social media tools?
a. Allow users to build, integrate, or facilitate an online community
b. Enable users to communicate with each other online
c. Act as a home base for online communities
d. Allow marketers to track, measure, and interpret data related to users’ social media
marketing initiatives
_____ involves making calls on prospective and existing customers at their businesses
or homes.
a. span of control
b. field selling
c. inside selling
d. order processing
e. virtual sales team
f. team selling
g. approach
h. creative selling
i. presentation
j. sales promotion
k. premium
l. coupon
m. network marketing
n. cold calling
o. expectancy theory
p. over-the-counter selling
q. missionary selling
r. relationship selling
s. push money
t. consultative selling
When New Orleans’ Holy Cross School organizes a $500-per-person concert to raise
funds for the operation of the school, their organizational goal is to:
a. maximize their profits.
b. implement value pricing.
c. suppress the market.
d. provide market incentives.
A nation’s size, per-capita income, and stage of economic development determine its
prospects as a host for _____.
a. regional economic integration
b. international business expansion
c. free trade association
d. public private partnership
Product development partnerships and vertical alliances are two examples of strategic
alliances.
a. True
b. False
Which of the following terms represents the measure of responsiveness of purchasers
and suppliers to a change in price?
a. Selectivity
b. Captivity
c. Elasticity
d. Sensitivity
