A consumer who is considering purchasing a house would probably use ________.
A) habitual decision making
B) stimulus generalization
C) operant decision making
D) limited problem solving
E) extended problem solving
Organizational markets differ from consumer markets in that organizational markets
________.
A) have a high number of purchases that are low risk and low cost
B) have derived demand
C) are not geographically concentrated
D) have a single individual in the role of decision maker
E) involve more frequent purchases
Which of the following helps an organization focus on minimizing any harmful effects
it may have on the environment?
A) Six Sigma
B) ISO 9000
C) ISO 14000
D) ISO 27001
E) TQM
Trusted Wholesalers is a company that purchases products produced in Mexico and
sells them to companies based in the United States and Canada. Management at Trusted
Wholesalers would most likely be interested in becoming experts in the agreements
made by ________.
A) the EU
B) NAFTA
C) CAFTA
D) APEC
E) MERCOSUR
Ideally, market research should be ________.
A) focused on primary data
B) focused on secondary data
C) done once a year
D) done once every two years
E) done in an ongoing process
________ decisions identify how marketing will accomplish its objectives in the target
markets by using product, price, promotion, and place.
A) Marketing metrics
B) Strategic business unit
C) Return on marketing investment
D) Marketing mix
E) Strategic planning
Briefly explain what the U.S. Food and Drug Administration (FDA) requires on food
labels and why.
________ refers to the collection, deployment, and interpretation of information that
allows a business to acquire, develop, and retain customers.
A) Market research
B) Syndicated research
C) Exploratory research
D) Customer insights
E) Predictive technology
The ________ element of the marketing mix informs consumers about products and
encourages them to buy these products using forms such as personal selling,
advertising, coupons, and publicity.
A) production
B) place
C) price
D) distribution
E) promotion
There are people who have similar income and education levels and often share tastes
in clothing, decorating styles, and leisure activities. These people also share many
political and religious beliefs as well as ideas regarding valued activities and goals.
These people could all be categorized as being in the same ________.
A) family life cycle
B) social class
C) regional group
D) operant conditioning set
E) microculture
CRM and enterprise resource planning databases are examples of ________ sources of
Big Data.
A) social media
B) NGO
C) commercial entity
D) government
E) corporate I.T.
Which of the following lists the three important components of a basic marketing
information system (MIS)?
A) competitive intelligence, internal records, and all sales personnel
B) existing data, market researchers to gather more data, and the technology to convert
those data into information
C) managers at all levels, corporate culture, and internal data
D) data, computer hardware and software, and output for marketing decision makers
E) information resources, technical experts, and marketing managers
Consumers usually perceive higher-priced products as ________.
A) out of reach for all but the wealthy
B) having high quality
C) having low profit margins
D) having cost-based prices
E) being in the introductory stage of the product life cycle
Azerbaijan imported wheat from Romania in exchange for crude oil and Vietnam
exchanged rice for Philippine fertilizer and coconuts. Both scenarios are examples of
which of the following?
A) convertible trade
B) tariffs
C) quotas
D) protectionism
E) countertrade
Which kind of marketing involves sending a brochure or pamphlet that offers a specific
good or service at one point in time?
A) personal marketing
B) telemarketing
C) direct mail
D) catalog
E) spam
A trucking company is considering purchasing new trucks that are powered by ethanol
instead of diesel fuel. In terms of the buying center, the truck drivers who must make
sure that the trucks’ fuel tanks do not run out of fuel are the ________.
A) initiators
B) liaisons
C) agents
D) users
E) gatekeepers
If Sam describes Coca-Cola as an all-American, Pepsi-Cola as a young daredevil, and
Dr. Pepper as a nonconformist, he would be describing the sodas’ ________.
A) VALS™ profiles
B) target markets
C) brand personalities
D) NAICS classifications
E) trade promotions
Marketers first identify consumer needs and then provide products that satisfy those
needs. This practice is referred to as ________.
A) the stakeholder orientation
B) the marketing concept
C) total quality management
D) collaborative consumption
E) the marketing mix
The ________ is the member of the buying center who controls the flow of information
to other members.
A) initiator
B) gatekeeper
C) decider
D) user
E) influencer
What are the steps, in order, of the target marketing process?
A) segmentation, positioning, and targeting
B) segmentation, targeting, and positioning
C) targeting, segmentation, and positioning
D) targeting, positioning, and segmentation
E) positioning, segmentation, and targeting
The environment in which service is delivered is referred to as the ________.
A) service encounter
B) servicescape
C) commercescape
D) operational factor
E) locational factor
Through the U.S. Generalized System of Preferences (GSP), developing countries may
export goods duty-free to the United States if they ________.
A) demonstrate progress toward protecting the natural environment
B) demonstrate progress toward improving the rights of their workers
C) agree to exempt U.S. imports from local content rules
D) belong to the World Trade Organization (WTO)
E) participate in a reciprocal free trade zone
Which of the following is an instrument to measure consumers’ perceptions of service
quality?
A) total quality management (TQM)
B) capacity management
C) credence management
D) SERVQUAL
E) servicescape
Which of the following is NOT a desirable quality for a brand name?
A) It should suggest something about the product’s benefits.
B) It should be easy to pronounce and remember.
C) It should be a long word to get attention.
D) It needs to fit legal requirements.
E) It should make sense in the customer’s culture.
Karen likes using the SERVQUAL scale to measure her clients’ perception of the
quality of her hair styling salon because it includes assessing ________, which involves
the physical facilities and equipment and professional appearance of the stylists. These
aspects are very important for the comfort of her clients.
A) tangibles
B) reliability
C) responsiveness
D) assurance
E) empathy
Fence Patrol has developed an entirely new mounting system for chain link fences.
Although they are a local company, through the acquisition of a distributor they now
have the ability to market their products nationwide. Fence Patrol will most likely use a
________ strategy.
A) market penetration
B) market development
C) diversification
D) divesting
E) product development
Even though most people in the original target market for electric toothbrushes already
knew how to brush their teeth, consumers still had some learning to do in order to make
good use of the new brushing technique. The electric toothbrush is an example of a
________.
A) dynamically continuous innovation
B) nonradical innovation
C) competitive innovation
D) knockoff
E) discontinuous innovation
The founder of the upscale shoe company Harry’s Shoes Ltd. persuaded actors to wear
prototypes of his company’s shoes to the Oscars. This shoe company believed that the
actors would be ________ for the company.
A) opinion leaders
B) heuristics
C) mass classes
D) stewards
E) subcultures
Joe Bergerson makes and sells maple racks for cooling cakes and cookies. Joe knows
that it costs $15 to make one rack, and he wants to earn a 25 percent profit on each rack.
Which approach to pricing is Joe most likely to use?
A) demand-based pricing
B) target costing
C) cost-plus pricing
D) yield management pricing
E) value pricing
To determine the ________, marketers need to know the selling price per unit and the
cost per unit.
A) churn rate
B) conversion rate
C) cost-per-order
D) click-through rate
E) margin on sales
