Consumers are able to opt-out of receiving telemarketing solicitations.
The purchase of a specialty product typically involves extended problem solving for the
consumer.
Decisions about packaging and branding are part of a firm’s product strategy.
Like financial metrics, sustainability metrics are standardized.
Prospecting and cold calling are interchangeable terms.
When Apple marketed its iPod to teens, it used a personality segmentation variable.
Opportunities and threats come from a company’s internal environment.
According to Maslow’s hierarchy of needs, a person is concerned with fulfilling basic
physiological needs before he is concerned with fulfilling social or psychological needs.
The gross domestic product (GDP) is the overall pattern of changes or fluctuations of
an economy, such as prosperity, recession, and recovery.
Companies should identify critical incidents so they can plan how to recover before a
problem even occurs.
More U.S. advertising dollars are spent on digital than television ads.
Because children have little influence over family purchases beyond toys and games,
marketers tend to not focus on consumers under the age of 12.
Test marketing is an inexpensive way to predict whether a new product will be a
success.
Personal selling is more important when a firm engages in a pull strategy.
It is more difficult to assess the bottom-line impact of public relations activities than the
bottom-line impact of advertising.
The term share of customer is synonymous with share of market.
The first step in the product adoption process is to create interest.
A manager’s decision to run a quarter-page ad in the business section of the local
newspaper to promote goodwill toward his company is part of an operational plan.
The percentage-of-sales method of setting a communication budget wrongly treats sales
as a cause of promotion rather than a result.
Middlemen is an older term for intermediaries.
Price leadership strategies provide a legal way for firms to agree on prices without ever
explicitly coordinating rates.
Once a brand’s position is established, marketers rarely attempt to change it.
Quaker Oats inserted $5 million worth of gold and silver coins in Ken-L Ration dog
food packages. This is an example of a contest.
Competitive advantage can be created by offering a lower price for a product that is
similar to the competition’s product.
On a cost per contact basis, personal selling is much more expensive than national
advertising.
Telemarketing is more profitable for consumer markets than for business markets.
The global economic crisis of 2009 had little effect on the volume of world trade that
year.
Personal selling is crucial in business-to-business marketing, especially when the deal
involves intense price negotiations.
Penetration pricing is the opposite of skimming pricing.
The market planning process should be completed before the strategic planning process
begins.
Cost-based pricing considers factors such as the nature of the target market, demand,
competition, and the product life cycle.
Marketers can have little to no effect on the evaluative criteria consumers use.
The marketing strategy of gamification is designed to address consumers’ motivational
needs of prestige, status, and accomplishment.
When creating product objectives, marketers should consider the long-term
implications of product decisions.
Which of the following is the best example of a service?
A) the medical examination Jonathon had yesterday
B) the sheet music purchased by the piano teacher
C) the software Monica purchased from the website
D) the cleaning supplies purchased for the veterinarian’s office
E) the t-shirt you got for running in a 5K race
When the size and purchasing power of a target segment can be determined, the
segment is ________.
A) measurable
B) accessible
C) substantial
D) differentiable
E) profitable
Which of the following should be the first step in distribution planning?
A) identifying the channel leader
B) determining a distribution budget
C) developing distribution objectives
D) evaluating the internal and external environments
E) determining the desired level of distribution intensity
The market research process step of defining the research problem has three
components: specifying the research objectives, identifying the consumer population of
interest, and ________.
A) placing the problem in an environmental context
B) determining a budget for the research process
C) selecting managers responsible for analyzing the data
D) determining whether primary data will be needed
E) deciding whether to hire a marketing research agency or to conduct the research
in-house
Which of the following is NOT true about the message in the communication model?
A) It may include both verbal and nonverbal elements.
B) It is the actual communication going from sender to receiver.
C) It must be carefully crafted to connect with a variety of people when it is delivered
through advertising.
D) It will be understood in the same way by all receivers.
E) It is often individualized when it is delivered by a salesperson.
Which of the following is NOT part of a target marketing strategy?
A) dividing the market into segments based on customer characteristics
B) identifying a market that is likely to buy a product
C) selecting one or more segments as target markets
D) developing a product to meet the needs of a specific market segment
E) positioning a product
The use of drones to deliver packages to consumers’ homes would represent a change in
the ________.
A) sociocultural environment
B) economic environment
C) legal environment
D) technological environment
E) microenvironment
A marketing decision support system (MDSS) is a ________.
A) basic system used by companies that do not have the resources to develop a
marketing information system (MIS)
B) popular syndicated research report purchased by most major media companies
C) sophisticated information system that allows marketing managers to use statistical
and modeling software tools
D) type of custom research report often called for in the marketing research process
E) data warehouse used to support a marketing information system (MIS)
Break-even analysis is used to examine the relationship between ________.
A) fixed costs and variable costs
B) costs and contributions
C) costs and price
D) demand and costs
E) demand and profits
A ________ brings buyers and sellers together and facilitates transactions, typically
charging a fee after a transaction is completed.
A) cash-and-carry wholesaler
B) broker
C) retailer
D) wholesaler
E) commission merchant
Which of the following consumer trends is a response to the frequent reports of
terrorism and political unrest?
A) buying time
B) vertical integration
C) eating greener
D) shopping for control
E) keystoning
Which of the following types of brand equity metrics would most likely be based on
information gathered through consumer surveys?
A) revenue premium metrics
B) financial market metrics
C) brand venture metrics
D) equity-identity metrics
E) customer mind-set metrics
Which of the following is NOT considered a source of market intelligence?
A) company websites
B) industry trade publications
C) customers
D) causal research
E) activities of competitors
Mail-order wholesalers are associated with all of the following EXCEPT which one?
A) selling products to small retailers and other industrial customers
B) selling products to retailers in remote locations
C) allowing shipment prior to receiving payment
D) carrying products in inventory
E) selling through catalogs
The built-in, fold-down child seats, designed to replace traditional car seats and booster
seats, such as those found in Chrysler minivans are an example of a ________.
A) dynamically continuous innovation
B) nonradical innovation
C) competitive innovation
D) continuous innovation
E) discontinuous innovation
African Americans, Hispanic Americans, and Asian Americans are all examples of
________ segments.
A) life cycle
B) psychographic
C) ethnic group
D) social class
E) geocoding
Which of the following is the best example of a direct channel?
A) J&L Manufacturing Company sells drapery hardware to The Home Depot’s Design
Center, and the Design Center then sells it to consumers.
B) Family Dollar Store sells modeling clay to school-age children.
C) A wholesaler sells candy to convenience stores, who then sell it to store patrons.
D) Farmer Mintz sells corn to the Hughes household, who will eat it for supper.
E) A farmer in Colombia sells flowers to an international broker, who makes sure the
flowers reach consumers in the United States.
Marketers develop positioning strategies to ________.
A) limit the number of elements of the marketing mix used for one product
B) identify the location where the organization will sell its products
C) determine the specific means the organization uses to distribute its products
D) create a desired perception of the product in consumers’ minds in comparison to
competitors’ brands
E) select metrics to determine the effectiveness of marketing planning
Which of the following is NOT required by the U.S. Food and Drug Administration
(FDA) on the labels of most foods sold in the United States?
A) amount of saturated fat in the product
B) sources of all ingredients in the product
C) amount of cholesterol in the product
D) number of calories in the product
E) amount of protein in the product
Which of the following occurs when prices and the cost of living rise while money
loses its purchasing power?
A) prosperity
B) recovery
C) inflation
D) deflation
E) depression
A ________ is a loyal customer who works for a brand for free.
A) relationship manager
B) stealth marketer
C) brand ambassador
D) public relations specialist
E) brand avatar
The measurable quality of a country’s distribution, financial, and communication
systems is referred to as the country’s ________.
A) level of economic development
B) standard of living
C) gross domestic product (GDP)
D) economic infrastructure
E) business cycle
Buyers, sellers, investors, and community residents are all considered ________ in a
company.
A) stakeholders
B) shareholders
C) consumers
D) channel of distribution members
E) collaborative consumers
Which of the following is the process of evaluating and selecting the most viable
market segment to enter?
A) segmentation
B) differentiation
C) targeting
D) market mixing
E) positioning
Drop shippers do all of the following EXCEPT which of the following?
A) take title to the merchandise
B) take actual possession of the merchandise
C) take orders from retailers and industry buyers
D) bill retailers and industry buyers
E) assume the same risks as other types of limited-service merchant wholesalers
________ is the marketing of goods and services that businesses and other
organizations buy for purposes other than personal consumption.
A) Business-to-business marketing
B) Just in time (JIT) marketing
C) Single sourcing
D) Retailing
E) Outsourcing
A ________ is a name, term, symbol, or other unique element of a product that
identifies one firm’s products and sets it apart from the competition.
A) patent
B) brand
C) license
D) position
E) value proposition
Reach and frequency of advertising, timeliness and accuracy of competitive
intelligence, and consumer word-of-mouth activity are all examples of ________.
A) ROMI
B) marketing metrics
C) action plans
D) SBU objectives
E) situation analyses
In February 2000, the United States imposed a tax on imported steel in an effort to
protect about 5,000 U.S. jobs. Another name for this levied tax is a(n) ________.
A) embargo
B) gray tax
C) tariff
D) import quota
E) boycott
Which of the following is the type of advertising that the media run free of charge?
A) product advertisements
B) advocacy advertisements
C) public service advertisements
D) institutional advertisements
E) local advertisements
Strategic planning for a large firm such as Disney with several SBUs probably occurs
________.
A) only in its corporate headquarters
B) only at the individual business unit level
C) at both the overall corporate level and at the individual SBU level
D) as needed based upon the success of each division
E) at each location on a quarterly basis
Which of the following is an example of a good?
A) a massage
B) a handbag
C) a medical examination by a doctor
D) an idea for a new television show
E) dry cleaning
At Boeing, salespeople work with company specialists, such as financial analysts,
technical specialists, and engineers, to call on potential and current customers. This is
an example of ________.
A) territorial selling
B) team selling
C) professional selling
D) industry specialization selling
E) transactional selling
What is the relationship between the level of control and the level of risk in each type of
market entry strategy?
Explain the concept of corporate citizenship and why it is important for companies
today.
What category of consumer adopters would purchase a product when it is no longer
considered new or different but before it is considered a necessity? Explain your
answer.
When analyzing its portfolio of businesses with the Boston Consulting Group model,
Disney views its movie brand as a star. What does this mean?
Briefly describe four main objections to advertising.
Explain the concept of bifurcated retailing and how this trend has affected department
stores.
Tropicana Essentials Healthy Heart targets consumers who like orange juice and who
also want extra vitamins but no sodium. Explain how Tropicana uses behavioral
segmentation in this example.
The telephone system in Argentina is antiquated and is just starting to work properly
after years of neglect by the government. What does this tell a marketer about
Argentina, and why would a marketer need to know this?
How can a marketer determine the effectiveness of a banner ad on a website?
You work for a travel agency. Business has been slow, and you want to suggest some
promotions targeted to specific market segments. What three demographic
segmentation variables would you recommend using and why?
Describe three ways in which a firm could move toward greater sustainability.
Explain how the gap between service quality standards and customer expectations can
occur. How can it be avoided?
Pfizer pharmaceutical representatives call on physicians to influence them to prescribe
the latest Pfizer medications over competing products. However, no sale is made until
doctors call prescriptions into pharmacies that then place orders through their drug
wholesalers. What type of sales position do these Pfizer pharmaceutical representatives
hold, and what are their job responsibilities?
Explain the three layers of the product the marketer needs to understand to adequately
serve the consumer.
Why might a company choose a diversification strategy?