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It is possible to define every person and every organization in the world as a market
segment because each is unique.
a. True
b. False
Intix Inc. is a manufacturer of mother boards for computer systems, which sells its
product to the firms which manufacture assembled computers. Which of the following
is true in this scenario?
a. A special feature of component parts is that they could not retain their identity after
becoming part of the final product.
b. The finished items are ready for assembly or are products that need very little
processing before becoming part of some other product.
c. The goods which are less expensive and shorter lived than major equipment.
d. The expense items that do not become part of a final product.
A(n) ______________ consists of 7 to 10 people who participate in a group discussion
led by a moderator.
a. focus group
b. interview group
c. research group
d. secondary data group
Which of the following is the most important factor in successful newproduct
introduction?
a. The features of the new product should be similar to its substitutes in the market.
b. The product should not be developed using crowdsourcing.
c. The new product should be priced lower than the other products in the same category.
d. The new product should deliver a meaningful and perceivable benefit to a sizable
number of people.
According to family life cycle segmentation, consumption patterns among people of the
same age and gender differ because they are in different stages of the family life cycle.
a. True
b. False
Which of the following statements is true of publicprivate partnerships?
a. They increase the negative impacts of potentially hazardous supply chain situations.
b. They are critical to the satisfaction of both company and societal interests.
c. They are formed when the magnitude of a supply chain dilemma is of little
consequence to a company.
d. They lack the power to solve future national and global supply chain problems.
The local community is not considered one of the stakeholders of an organization.
a. True
b. False
A federal agency which aims at preventing persons or corporations from using unfair
methods of competition in commerce is:
a. the Federal Trade Commission (FTC).
b. the Food and Drug Administration (FDA).
c. the Consumer Product Safety Commission (CPSC).
d. the Bureau of Consumer Protection.
University tuition is an example of belowcost pricing.
a. True
b. False
Marketing research dilutes the quality of decisionmaking.
a. True
b. False
Zenith, a popular restaurant chain, has many branches all over the world. The taste and
quality of its food is the same across all these branch restaurants. Based on this
information, which of the following strategies does Zenith embrace?
a. Global marketing localization
b. Product adaptation
c. Mass customization
d. Global marketing standardization
Steve, a retiree, wants to use his savings to open a day care facility for dogs. After
deciding on the services that he would provide to his customers, he calculates costs
versus the demand and the profit he could make depending on the volume of sales.
After extensive deliberation, Steve decides to take a bank loan because the needed
initial investment is too high for opening the facility. Steve is currently in the _____
stage of the newproduct development process.
a. commercialization
b. business analysis
c. idea generation
d. test marketing
Which of the following statements correctly compares tangibles and intangibles?
a. Consumers and business users have more trouble evaluating services than goods and
thus marketers have more trouble promoting intangible services than tangible goods.
b. Consumers and business users have more trouble evaluating services than goods;
however, marketers have less trouble promoting intangible services than tangible goods.
c. Consumers and business users have less trouble evaluating services than goods;
however, marketers have more trouble promoting intangible services than tangible
goods.
d. Consumers and business users have less trouble evaluating services than goods and
thus marketers have less trouble promoting intangible services than tangible goods.
________________ identifies a product by class or type and cannot be trademarked.
a. A generic product name
b. A brand name
c. A service brand
d. Family branding
A situation in which an increase or a decrease in price will not significantly affect
demand for the product is called __________ demand.
a. elastic
b. inelastic
c. stagnant
d. fluctuating
Companies that place customers at the center of their business are those that follow a
______ orientation.
a. production
b. sales
c. market
d. societal
Basingpoint pricing is a price tactic that offers all goods and services at the same price
or perhaps two or three prices.
a. True
b. False
Decor, a renowned interior design services company, tries to increase its customer base
through increased web presence on its site. It regularly posts photos of the spaces it has
designed and encourages its followers to review its designs, and recommend the
company to their friends. When these promotional efforts result in electronic
wordofmouth advertising, this is known as ___________________.
a. paid media
b. earned media
c. owned media
d. free media
Choqlate King Inc. is a large company that manufactures and sells chocolate bars. It
plans to adopt a product development strategy. In this case, Choqlate King will:
a. focus on attracting new customers and retain existing ones.
b. offer chocolates at competitive prices.
c. introduce a product line of lowcalorie chocolates.
d. use existing assets to provide added convenience to existing customers.
Marketers often try to create opinion leaders because it is rare to find an opinion leader
who spans multiple diverse domains of interest or influence.
a. True
b. False
When evaluating an advertising campaign, ad effectiveness can be measured only after
the advertising campaign is over.
a. True
b. False
During the maturity stage of a product life cycle, distribution channels become a
significant cost factor.
a. True
b. False
The CRM system sends customer information to all areas of a business because the
customer interacts with all aspects of the business.
a. True
b. False
Dunchen Moo, a manufacturer of dairy products, sells evaporated milk, flavored
whipped cream, and yogurts. It markets a number of yogurts, including Dunchen All
Natural, Dunchen Fruit on the Bottom, Dunchen Light & Fit, DunActive, and
Dunonino. The large variety of yogurts sold by the Dunchen brand is collectively an
example of a _____.
a. market segment
b. target market
c. product mix
d. product line
Cold calling is a process of finding out about potential clients from friends, business
contacts, coworkers, acquaintances, and fellow members in professional and civic
organizations.
a. True
b. False
Insurance, burial plots, and similar items fall under the convenience product category.
a. True
b. False
Marketers have more trouble promoting tangible goods than intangible services.
a. True
b. False
Which of the following is an objective of focus group interviews?
a. To stimulate insightful comments through group interaction
b. To directly involve customers in test marketing
c. To reject ideas that are obviously inappropriate for some reason
d. To eliminate ideas that are inconsistent with an organization’s newproduct strategy
A rebate is a discount to wholesalers and retailers for performing channel functions.
a. True
b. False
The retailing mix consists of six Ps: the four Ps of the marketing mix (product,
promotion, place, and price) plus ______.
a. presentation and personnel
b. population and personnel
c. presentation and preference
d. population and purpose
Universal product codes (UPCs) are the lines on product labels that are read by
computerized optical scanners that match codes with brand names, package sizes, and
prices.
a. True
b. False
According to the pyramid of corporate social responsibility, which component includes
the behavioral aspect of corporate social responsibility, that is being meticulous and
trustworthy.
a. Philanthropic responsibilities
b. Ethical responsibilities
c. Legal responsibilities
d. Economic responsibilities
The _____ of marketing research is to address “what if” questions.
a. predictive function
b. diagnostic function
c. prescriptive function
d. descriptive function
Research shows that using humorous advertising is most effective when it is used to:
a. reinforce and remind loyal customers about the benefits of a product.
b. change consumers’ deeply rooted values and attitudes.
c. publicize new brands introduced in the market.
d. shape attitudes when consumers already have a positive image of an advertised
brand.
