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The rule of three states that the third major company in an industry has little chance of
survival.
a. True
b. False
A pharmaceutical company that works with the Food and Drug Administration to create
new regulations is practicing:
a. strategic planning.
b. environmental scanning.
c. marketing research.
d. environmental management.
With respect to building an effective web presence, ____________________.
a. Internet merchants need to attract customers who conduct business on the spot
b. success should mean the same thing to all businesses
c. the scope of the project determines the objectives of the website
d. a domain name should be catchy even if it is hard to remember
e. the speed of the site will be the primary factor in whether people return to the site
Foreign licensing agreements are valid for a specified time period after which they need
to be revised or renewed.
a. True
b. False
All planning strategies have the goal of creating a sustainable competitive advantage for
a firm which other companies cannot imitate.
a. True
b. False
Interpretative research focuses on understanding the meaning of a product or the
consumption experience in a consumer’s life.
a. True
b. False
Interpretative research is an observational method that observes consumers in their
natural setting.
a. True
b. False
Development of individual offerings that appeal to different market segments while
remaining closely related to the existing product line is referred to as _____.
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
The system for grouping businesses that grew out of the NAFTA accord is known as
the:
a. Standard Industrial Classification System.
b. Industrial Data Records System.
c. International Organization for Standardization of Business.
d. North American Industry Classification System.
Advertisements that utilize closure have a good chance of catching the attention of
consumers as they try to complete the advertising message with a limited amount of
stimuli.
a. True
b. False
Which of the following social media platforms gives users a place to save, organize, or
manage links to websites or other Internet resources?
a. Social news site
b. Social networking site
c. Bookmarking site
d. Blogging site
Turning to outside vendors to provide goods or services that were formerly produced
in-house is referred to as outsourcing.
a. True
b. False
During the search step of the consumer decision process, the consumer:
a. realizes that it is time to make a change from the present situation.
b. develops a set of evaluative criteria to guide the purchase decision.
c. begins to notice favorable word-of-mouth communication about the product.
d. gathers information about the attainment of a desired state of affairs.
The degree of external search increases as purchasing behavior moves from routine to
limited to extended problem solving.
a. True
b. False
Businesses that provide transportation services as for-hire carriers to the general public
are called _____.
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
A _____ is usually located near a regional or superregional mall, and brings together
several huge specialty stores as standalone stores in a single trading area.
a. lifestyle center
b. power center
c. community shopping center
d. regional shopping center
Culture refers to the values, beliefs, preferences, and tastes that are handed down from
one generation to the next.
a. True
b. False
Which of the following elements of a print advertisement focuses on informing,
persuading, and stimulating buying action?
a. Body copy
b. Headline
c. Illustration
d. Signature
Which of the following is a core value emphasized by the American culture?
a. Collectivism
b. High power distance
c. Aversion to consumerism
d. Efficiency
Businesses may need to adjust their data collection methods for primary research in
foreign countries since some methods do not easily transfer across national borders.
a. True
b. False
A company decides to ____________ a good or service it formerly made internally so
that it can reduce its costs and provide higher-value items to its consumers.
a. outsource
b. export
c. offshore
d. nearshore
e. lease
Whether conducted online or through the mail, what is the most important aspect of a
marketing research survey?
a. Designing one that yields information marketers can use to make decisions.
b. Designing one that motivates respondents to provide information quickly.
c. Designing one that keeps costs within the marketing budget.
d. Designing one that can be adapted easily to global markets.
_____ is an imbalance between a consumer’s actual and desired states.
a. Need
b. Attitude
c. Affect
d. Equilibrium
Strategic planning is complemented by _____ which guides the implementation of
activities specified in the strategic plan.
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 planning process begins at the corporate level with the first step being the
development of strategic objectives.
a. True
b. False
Which of the following is true of fair-trade laws?
a. They allow manufacturers to stipulate minimum retail prices for their products.
b. They allow retailers to offer discount schemes on specified products.
c. They require sellers to maintain maximum prices for comparable merchandise.
d. They assert that a product’s image is a property right of the retailer.
The _____ strategy seeks to increase sales of existing products in existing markets.
a. product development
b. market innovation
c. product diversification
d. market penetration
Which of the following can be categorized as a capital item purchased by organizational
buyers?
a. Office supplies
b. Copy papers
c. Production plant
d. Machine lubricants
_____ are used by the federal government to control extreme fluctuations in the
business cycle that can lead to a depression.
a. Deregulation
b. Monetary and fiscal policies
c. Stringent environmental policies
d. Mergers and acquisitions
Because consumer needs and purchasing power vary widely, marketers try to identify
those factors that affect the decision to buy and make a good target market. Which
important characteristic of a market segment would make it an attractive target market?
a. The market segment shares the same age range.
b. The market segment shows a pattern of growth.
c. The market segment is employed in the same industry.
d. The market segment has been adversely affected by economic recession.
e. The market segment shows wide diversity.
Hiring employees to work from home is known as offshoring.
a. True
b. False
While price offers a dramatic means of achieving competitive advantage, it is the most
difficult marketing variable for competitors to match.
a. True
b. False
Ineffective promotional appeals, inappropriate advertising media, or poor radio or
television reception that interferes with the transmission of the message and reduce its
effectiveness are examples of _____ in a communication channel.
a. noise
b. advertising
c. promotion
d. publicity
e. sales promotion
f. guerrilla marketing
g. posttesting
h. split runs
i. cooperative advertising
j. marketing public relations
k. media scheduling
l. pretesting
m. informative advertising
n. persuasive advertising
o. retail advertising
p. missiles
q. cross-promotion
r. interactive advertising
s. sponsorship
t. institutional marketing
Discuss the different types of direct marketing.
Discuss the five different categories of business products.
What are the reasons a company should develop a marketing plan?
What are the three components of attitude? How can marketers attempt to change
consumer attitudes?
What are the interpersonal determinants of consumer behavior? Describe the influence
of culture on consumer behavior.
What is scrambled merchandising? Give an example.
Discuss the role of federal and state legislation in regulating product safety.
What is the significance of marketing research to businesses? What are the stages
involved in the marketing research process?
Describe the major approaches used by marketers to segment business-to-business
markets.
How do marketers measure customer satisfaction? How can they avoid unfavorable
service gaps while marketing their products?
Explain cobranding and comarketing. Give an example of each.
Define promotional mix. Discuss personal selling as a component of promotional mix.
What are electronic storefronts? How do they function?
List out the factors that make United States an attractive market for foreign companies.
What is a research design? What are the factors that need to be considered by marketers
while creating a research design?
Define price. Explain why setting prices can be a difficult process.
Differentiate between transaction-based marketing and relationship marketing.
Explain the exchange and distribution functions of marketing.
