In the everchanging marketplace, which of the following statements is true of marketing
research?
a. It does not allow managers to explore alternatives.
b. It helps managers take advantage of opportunities in the market.
c. It cannot help managers serve future customers.
d. It results in inaccurate forecasts as the market place keeps changing.
Which of the following best defines the ordertocash cycle?
a. It is the time gap between purchase of raw materials and manufacturing of the final
product.
b. It is the amount of time between order placement and receipt of the customer’s
payment following order shipment.
c. It is the time delay between the packaging of an order and the consumption of the
product.
d. It is the amount of time between the cancellation of an order and the approval of
cancellation.
Unlike multichannel marketing, omnichannel marketing:
a. requires each channel to have its own inventory, processes, and performance metrics.
b. creates redundancy and complexity in a firm’s distribution system.
c. creates greater customer control over the shopping experience.
d. requires the construction of multiple and individual supply chains.
To develop a successful segmentation scheme, marketers gather data about the
population within specific geographic boundaries, the number of people in various age
categories, and other social and demographic characteristics. This example describes
which of the four basic criteria used to develop useful segment schemes?
a. Sustainability
b. Identifiability and measurability
c. Responsiveness
d. Accessibility
The elements of a brand that cannot be spoken are called ____________.
a. a brand name
b. a brand mark
c. brand equity
d. brand loyalty
In the context of ondemand marketing, which statement is true of a salesoriented firm?
a. It carefully identifies market segments.
b. It extensively uses relationship marketing strategies.
c. It extensively uses personal selling and advertising.
d. It increases sales by creating customer value and satisfaction.
Destination stores are very likely to be profitable even in isolated locations.
a. True
b. False
Which stage in the consumer decisionmaking process results from the imbalance
between actual and desired states?
a. Postpurchase behavior
b. Evaluation of alternatives
c. Purchase
d. Need recognition
Insurance claims are an example of ______.
a. belowcost pricing in the profit sector
b. belowcost pricing in the nonprofit sector
c. separation between payers and users in the profit sector
d. separation between payers and users in the nonprofit sector
_____ was founded in 1945, one year after the creation of the World Bank, to promote
trade through financial cooperation and eliminate trade barriers in the process.
a. The European Union (EU)
b. The World Trade Organization (WTO)
c. The North American Free Trade Agreement (NAFTA)
d. The International Monetary Fund (IMF)
A sample is a method of gathering primary data in which the researcher alters one or
more variables while observing the effects of those alterations on another variable.
a. True
b. False
Derived demand means that an increase or decrease in the price of the product will
significantly affect demand for the product.
a. True
b. False
James, an administrative manager at Seal Inc., is asked to purchase 100 printers for the
firm’s office. He contacts a sales representative at Myro Distributors Inc. and places an
order for 100 printers. Myro Distributors Inc. purchases the printers from Ink Corp., a
wholesaler, and delivers them to James at his office. In this scenario, Myron
Distributors Inc. is most likely to be a(n) _____.
a. producer
b. retailer
c. institution
d. manufacturer
The researchers at Beans Inc., a coffee manufacturing company, developed a new
variety of highquality ground coffee. The new variety was priced at a comparatively
lower price than the other varieties of coffee available in the market. Therefore, the
advertisements for the product stated, “The highest quality coffee does not have to be
expensive.” This is an example of communicating a product’s _____.
a. marketing mix
b. product parity
c. competitive advantage
d. competitive parity
Identify a similarity between laggards and innovators.
a. Neither relies on group norms.
b. Neither is rooted in tradition.
c. Both are eager to try new products.
d. Both exhibit short adoption time.
Which of the following is an advantage of supply chain globalization?
a. It helps in delivering products that have highly consistent quality standards.
b. It provides consistency in transportation service.
c. It lowers labor rates and material costs.
d. It reduces competition from domestic suppliers.
A search quality of a product or service is a characteristic that can be ______.
a. assessed only after using the purchase
b. hard to describe even after its use
c. easily assessed before purchase
d. experienced only on payment for the product or service
A competitive advantage is a set of unique features of a company and its products that
are perceived by the target market as significant and superior to those of the
competition.
a. True
b. False
A product category includes all brands that satisfy a particular type of need.
a. True
b. False
Personal selling should be directed toward all prospects—qualified and unqualified.
a. True
b. False
Opinion leaders are:
a. wealthy, highlyeducated individuals.
b. experts on all highinvolvement consumer goods.
c. usually the same individuals for all social classes.
d. people who influence others.
Nile Inc. is one of the leading shoe manufacturing companies in Baltonia. It
manufactures canvas shoes that are similar to those produced by other brands. The
management of the company has decided to adopt a product/service differentiation
competitive strategy. In this scenario, what would Nile be likely to do?
a. Offer its products at the lowest rates in the market
b. Produce aerobic, tennis, and baseball shoes that have specialized features
c. Advertise their products through more media outlets than before
d. Sell products to markets outside Baltonia
Which of the following refers to a mediascheduling strategy in which ads are run
heavily every other month or every two weeks to achieve a greater impact with an
increased frequency and reach at those times?
a. Flighted media schedule
b. Pulsing media schedule
c. Continuous media schedule
d. Seasonal media schedule
An unwritten guarantee that the good or service is fit for the purpose for which it was
sold is called a(n) ______________.
a. implied warranty
b. express warranty
c. oral warranty
d. committed warranty
Which of the following is a difference between product invention and product
adaptation?
a. Product invention involves altering the promotional strategies for a product, while
product adaptation does not involve altering such strategies.
b. Product invention takes the marketing mix into consideration, while product
adaptation does not take it into consideration.
c. Product invention involves drastically changing an existing product, while product
adaptation involves slightly altering a basic product.
d. Product invention applies only to products that are sold in local markets, while
product adaptation applies to products all around the world.
Samsung is best known for its smartphones, tablets, and televisions. Years ago when it
decided to expand its business activities and operations into ship building and military
hardware, it was gearing to offer ______.
a. discontinuous innovations
b. new product lines
c. repositioned products
d. newtotheworld products
In the context of marketing, which of the following statements is true of nonprofit
organizations?
a. They market tangible products.
b. They aim to maximize market share and investment returns.
c. They make use of extensive advertising and promotional activities.
d. They exist to achieve goals other than businessrelated goals.
Which statement is true of new software applications being developed every year that
provide customer information?
a. These apps can help lower costs, increase supply chain efficiency, or enhance
customer retention, loyalty, and trust.
b. Many business customers do not depend on these applications for marketing.
c. Business marketing does not require vigilant adjustment to keep track of new
applications and platforms.
d. New applications are rarely developed for providing additional details of customers.
The definition of product includes only tangible goods.
a. True
b. False
Which of the following statements is true about the federal government?
a. Not many goods and services are used by the federal government.
b. Much of the federal government’s buying is decentralized.
c. No single federal agency contracts for all the government’s requirements, and no
single buyer in any agency purchases all that the agency needs.
d. The U.S. federal government buys goods and services worth less than $875 million
per year.
Which of the following comprise(s) the competitive environment of a firm?
a. The number of competitors present in the market
b. The relative size of the competitors
c. The degree of interdependence within the industry
d. All of the above
A subculture is a homogeneous group of people who share elements of an overall
culture as well as cultural elements unique to their own group. Within subcultures,
people’s attitudes, values, and purchase decisions are even more similar than they are
within the broader culture.
a. True
b. False
This group is idealistic and pragmatic and the top brand attributes important to them
include trustworthiness, creativity, intelligence, authenticity, and confidence. Identify
this group.
a. Generation X
b. Teenagers
c. Millennials
d. Generation Z
Chelsea runs a stock market consultancy firm. The firm advises its clients on where to
invest and how to earn maximum profits. Given this information, Chelsea provides
_____ through the consultancy firm.
a. a service
b. concepts
c. branding
d. profits
Which of the following is a consequence of the heterogeneity of services?
a. No matter where, the customer knows exactly what is offered and what to expect.
b. Services are perceived as less standardized and uniform than goods.
c. Consistency and quality control of services can be easily achieved.
d. Standardization and training prove to be invariably futile or unreliable.