A schedule of the amounts of a good or service that will be offered for sale at different
prices during a specified period is referred to as _____.
a. demand
b. supply
c. surplus
d. ration
_____ are the retail stores that incur relatively high operating costs because of the wide
range of services they offer.
a. Department stores
b. Industrial distributing shops
c. Merchandise marts
d. Warehouses
Recruiting and selecting successful salespeople are among the greatest challenges faced
by a sales manager.
a. True
b. False
U.S. firms claiming that dumping threatens to hurt their business can file a complaint
with the:
a. United States Commercial Service.
b. U.S. International Trade Commission (ITC).
c. Office of the United States Trade Representative.
d. United States Agency for International Development.
What is the role of marketing in sustainability efforts?
a. Firms stand to exploit newer markets that are opened up to them.
b. Firms gain credibility from their efforts to protect the environment.
c. Firms can expect to save on costs incurred in discarding older, ineffective technology
in favor of newer, stateoftheart technology.
d. Firms can increase their profitability by enhancing their carbonfootprint.
The overall direction and control of the personal selling effort is in the hands of a
firm’s:
a. board of directors.
b. sales analysts.
c. existing customers.
d. sales managers.
A trademark is different from a trade name, which is usually used to identify a
company.
a. True
b. False
Atari, a consumer electronics and video games company, observed the innovations of
Nintendo Co., the most powerful video game company at that time, and destroyed the
market share of Nintendo eventually. This implies that Atari:
a. followed a firstmover strategy.
b. created a new product indigenously.
c. remained uninfluenced by Nintendo.
d. applied a secondmover strategy.
Which of the following is the final step in the business buying process?
a. Selecting an order routine
b. Evaluating proposals and selecting suppliers
c. Obtaining feedback and evaluating performance
d. Acquiring and analyzing proposals
Which of the following product categories is NOT regulated by the Consumer Product
Safety Commission?
a. food
b. bicycles
c. furniture
d. window blinds
Online sellers can quickly communicate the benefits and features of their products to
customers through consultative selling.
a. True
b. False
_____ is the practice of buying from suppliers who are also customers.
a. merchandisers
b. trade industries
c. remanufacturing
d. nearshoring
e. end-use application segmentation
f. global sourcing
g. joint demand
h. inelastic demand
i. outsourcing
j. value analysis
k. gatekeeper
l. commercial market
m. reciprocity
n. vendor analysis
o. category advisor
p. modified rebuy
q. demographic characteristics based segmentation
r. influencers
s. buyer
t. customer-based segmentation
Which of the following helps timebased competitors to improve product quality, reduce
costs, and expand product offerings to satisfy new market segments and enhance
customer satisfaction?
a. Validity and reliability
b. Flexibility and responsiveness
c. Rigidity and vision
d. Profitability and coverage
The function of an IMC strategy ends with delivering promotional messages to intended
audiences.
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
Your company is a direct competitor of Netflix, the online, moviestreaming service that
allows viewers to select a movie for viewing online whenever they want it. You noticed
that not all of Netflix’s movies are available for online viewing immediately. For many
of their movies, the user has to request a DVD be mailed to them. Your company
intends to exploit this situation by making more movies available for immediate online
viewing by users. Which of the following emarketing capabilities most closely
describes what your company is doing to exploit this opportunity?
a. Global reach
b. Personalization
c. Righttime marketing
d. Interactive marketing
e. Integrated marketing
Short-run or long-run pricing objectives of achieving a specified return on either sales
or investment are 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
When the buying situation is important to marketers, they typically consider whether
the customer has made previous purchases or this is the customer’s first order, offering
special rates or programs for valued clients. You work for a cell phone company that
provides the employees at its partner firms with discounts on monthly bills and new
products. The longer your partners’ employees have used your company’s services, the
greater their discounts. Which of the following systems can help your firm manage
purchasing relationships?
a. end-use application systems
b. segmentation of customers by type
c. The Standard Industrial Classification
d. customer relations management tools
e. The North American Industry Classification System
Jim plans to rent a car during an upcoming business trip to Dallas. He expects to pay a
rental rate similar to what he was charged last year in the same city. However, he could
be persuaded to pay more under certain conditions. Which of the following conditions
might influence Jim to pay more?
a. He is offered an eco-friendly hybrid car.
b. He is offered a Range Rover or other top quality car at only a small premium.
c. He is offered the same car he drove last year.
d. He is offered the option of paying in installments.
Increased competition in the marketplace forces an innovative company to bring down
the price of a product even lower than its eventual level under a nonsequential
skimming procedure.
a. True
b. False
Existing customers of a firm whose business problems require complex solutions are
likely to be best served by telemarketers in the firm.
a. True
b. False
_____ is the most frequently spoken language in the world.
a. English
b. Spanish
c. Mandarin
d. Hindi
The price elasticity of supply of a product is the percentage change in the quantity of a
good or service supplied divided by the percentage change in its price.
a. True
b. False
Garden Wholesalers is a wholesaling intermediary representing manufacturers of home
gardening tools. Choose the example(s) of utility this firm creates for consumers.
a. Makes spades, pots, and other items available during prime planting seasons
b. Helps deliver young trees to local nurseries
c. Invents better seeds
d. Improves the efficacy of pesticides
e. Participates in cooperative advertising
When marketers offer new products, increase their promotional efforts, and expand
their distributional limits, it is a sign of:
a. low inflation and low unemployment.
b. low inflation and high unemployment.
c. high inflation and high unemployment.
d. high inflation and low unemployment.
A standard rate for a specific commodity moving between any pair of destinations is
known as a _____ rate.
a. going
b. class
c. special
d. repo
Emeril works for a local sports bar known for its chicken wings and nachos. For the last
five years, the company has continued to grow, and according to a recent trend analysis,
sales have risen by increments of about $530,000 annually since the restaurant opened
its doors. Surprisingly, however, the restaurant has seen a decline in patronage over the
last quarter, and Emeril has been tasked with identifying the root cause of this sudden
decline in sales.
Emeril has never conducted exploratory research, so you have decided to help him. One
of the first lessons you share with him is to be careful about confusing the symptoms of
a problem with the problem itself. After you conduct a series of interviews with
waitstaff, customers, distributors, and other stakeholders, you help Emeril come up with
possible explanations for the decline in sales. Which of the following is a possible cause
of the problem at the restaurant?
a. The restaurant manager laid off five busboys because business is slow.
b. The restaurant’s sales declined from $200,000 a day to $80,000 a day.
c. The restaurant cut back on the number of weekly fresh produce deliveries.
d. The restaurant’s market share decreased from 7% to 4% in a matter of a few months.
e. The restaurant’s marketing team recently released a new billboard that many
customers find offensive.
The “brand relevance” dimension of the brand personality refers to a brand’s ability to
stand apart from its competitors.
a. True
b. False
_____ are software used by online companies to automatically collect data from
Internet browsers in order to track their customers’ shopping and viewing habits.
a. JARs
b. Cookies
c. Embedded systems
d. Popups
Which of the following actions generally helps marketers encounter new products, new
approaches to distribution, or clever new promotional ideas?
a. Globalization
b. Developing core values
c. Market penetration
d. Product standardization
Customers prefer to have continuing relationships with businesses or suppliers because:
a. it helps the consumers in the process of benchmarking.
b. by nature, customers are resistant to change and prefer preexisting relationships with
businesses.
c. the decision-making process becomes easier with the reduction in the number of
choices.
d. most businesses have low switching costs which make them attractive to have
continued relationships with.
Bridgestone Tire uses _______ indicators as part of its quality program by tracking
on-time delivery in addition to customer satisfaction since these measures are critical to
their success.
a. key performance
b. critical quality
c. customer sentiment
d. qualitative
The American Cancer Society in the private sector and The Department of Natural
Resources in the public sector are examples of _____.
a. utility
b. buzz marketing
c. exchange process
d. seller’s market
e. buyer’s market
f. marketing myopia
g. social responsibility
h. relationship marketing
i. person marketing
j. place marketing
k. event marketing
l. organization marketing
m. interactive marketing
n. lifetime value of a customer
o. social marketing
p. onetoone marketing
q. strategic alliances
r. notforprofit organizations
s. ethics
t. mobile marketing
u. wholesalers
v. transactionbased marketing
Price is an important indicator of quality for many consumers.
a. True
b. False
What has significantly changed the complexion of marketing research over the past few
decades?
a. Computer technology
b. Security concerns
c. Global conflicts
d. Fuel prices
The motivations for marketing complete product lines include the desire to grow,
enhancing the company’s position in the market, optimal use of company resources, and
exploiting the product lifecycle.
a. True
b. False