Age, gender, place of residence, and income are all examples of ________.
A) segmentation variables
B) positioning strategies
C) market fragment strategies
D) psychographics
E) targeting strategies
Another name for F.O.B. factory pricing is ________ pricing.
A) captive
B) CIF pricing
C) F.O.B. origin
D) F.O.B. delivered
E) freight absorption pricing
To determine the ________, marketers need to know the number of customers at the
beginning of a given time period and the number of customers lost over that same time
period.
A) churn rate
B) conversion rate
C) cost-per-order
D) click-through rate
E) margin on sales
Which of the following is an advantage of using cost-based pricing methods?
A) They consider external factors such as competition.
B) They include consideration of the effects of demand.
C) They are relatively simple to calculate.
D) They make accurate cost estimating a simple process.
E) They take the product life cycle into consideration.
Viral marketing is most closely related to which of the following?
A) buzz building
B) personal selling
C) brand polarization
D) internal PR
E) direct marketing
A retailer that wants to target prospective grooms within six months of their marriage is
using ________ segmentation to define its target market.
A) lifestyle
B) behavioral
C) socioeconomic
D) family life cycle
E) ethnicity
Which of the following approaches to selling is usually limited to key accounts?
A) relationship selling
B) team selling
C) creative selling
D) direct selling
E) transactional selling
Which type of vertical marketing system (VMS) gives an organization more control
over both supply sources and resale of its products, while at the same time increasing
the organization’s capital investment and its fixed costs?
A) administered
B) contractual
C) conventional
D) corporate
E) horizontal
The first phase of market planning is to ________.
A) identify a target market
B) calculate production costs
C) develop a value chain
D) determine a market position
E) analyze the marketing environment
A ________ is defined as a market segment on which an organization focuses its
marketing plan and toward which it directs its marketing efforts.
A) social network
B) market convergence
C) subculture
D) value chain
E) target market
For a veterinarian’s office, the paper used to print payment receipts is an example of
a(n) ________.
A) repair product
B) operating supply
C) maintenance product
D) component part
E) raw material
A list price is also referred to as a ________.
A) captive price
B) bundled price
C) channel price
D) suggested retail price
E) basing-point price
Which type of distribution is used when the producer wants to place its products with
more than one, but fewer than all, of the intermediaries who are willing to carry its
products?
A) exclusive
B) intensive
C) selective
D) dual
E) multiple
A good brand name should do all of the following EXCEPT fit ________.
A) the target market
B) the competition
C) the customer’s culture
D) the product’s benefits
E) legal requirements
Wholesalers and retailers purchase large quantities of goods from manufacturers but
sell only one or a few at a time to many different customers. This process is called
________.
A) creating assortments
B) breaking bulk
C) third-party logistics
D) order processing
E) inventory control
________ generally cover a shorter time period than other plans, perhaps only one or
two months, and include detailed directions for specific activities to be carried out.
A) Time lines
B) Operational plans
C) Marketing plans
D) Strategic plans
E) Pricing strategies
The ________ is the potential profit generated by a single customer’s purchase of a
firm’s products over the customer’s lifetime.
A) customer lifetime value
B) customer prioritization
C) customer segmentation
D) share of a customer
E) customer equity
Which of the following should be the first step of developing an advertising campaign?
A) set the budget objectives
B) establish the advertising message
C) understand the target audience
D) draft the creative brief
E) select the execution format
A flour producer that identifies its mission as “the milling of fine flour in the most
efficient manner possible” most likely has a ________ orientation.
A) customer
B) marketing
C) selling
D) production
E) new era
________ is the degree to which consumers find a new product or its use difficult to
understand.
A) Compatibility
B) Complexity
C) Relative advantage
D) Comparability
E) Tangibility
Columbia Sportswear makes nylon activewear. Its marketing manager set a goal to
increase sales 12 percent over the next three years through the introduction of a new
line of comfortable, lightweight clothing for people who fish. The marketing manager is
engaged in ________.
A) operational planning
B) strategic planning
C) control planning
D) portfolio planning
E) functional planning
The changes in prices of other products affect the demand for an item. This is a
phenomenon called ________.
A) cross-elasticity of demand
B) complementary elasticity
C) interdependent elasticity
D) substitute demand
E) variable demand
You are responsible for supervising order takers at Acme, Inc. Which of the following
would you be LEAST likely to expect these people to perform?
A) executing the preapproach stage of the creative selling process
B) assisting business customers
C) processing customer transactions
D) communicating with customers over the phone
E) executing the close stage of the creative selling process
Which of the following figures is needed to calculate inventory turnover?
A) annual cost of sales
B) number of levels in the distribution channel
C) slotting allowance fees
D) number of product returns
E) number of stock-outs
Which of the following is NOT one of the four main roles performed by marketing
communication?
A) to inform
B) to entertain
C) to persuade
D) to remind
E) to build relationships
Which of the following lists the three components of the triple bottom line orientation?
A) the financial bottom line, the social bottom line, and the environmental bottom line
B) the financial bottom line, the social bottom line, and the political bottom line
C) the financial bottom line, the cultural bottom line, and the business bottom line
D) the value bottom line, the service bottom line, and the business bottom line
E) the product bottom line, the service bottom line, and the relationship bottom line
A business buys candy and gum from many different manufacturers and then resells the
items to a variety of different stores. The business is an example of a(n) ________.
A) independent intermediary
B) manufacturer-owned intermediary
C) disintermediator
D) diverter
E) brokerage company
In marketing metrics terms, a(n) ________ is desired consumer action.
A) bounce
B) conversion
C) share
D) control
E) optimization
Which of the following is NOT an example of a digital marketing channel?
A) television
B) email
C) social media
D) search engine
E) short message service
________ is the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners,
and society at large.
A) Demand satisfaction
B) Competitive advantage building
C) Marketing
D) Total quality management
E) Value chain management
Pepsi-Cola’s development of Wild Cherry Pepsi, a cherry-flavored soda, is an example
of a ________.
A) dynamically continuous innovation
B) nonradical innovation
C) competitive innovation
D) continuous innovation
E) discontinuous innovation
A perceptual map is used to ________.
A) compare and contrast consumer psychographic segments
B) create consumer cross-tabulations for marketing research
C) locate consumers within a geographic information system
D) determine how consumers position products in relation to one another
E) identify the critical stage of the targeting process for the marketer
Exporting products overseas is an example of ________.
A) countertrade
B) a market-entry strategy
C) a marketing mix strategy
D) fair trade
E) a convertible trade
A questionnaire that asks respondents whether they “strongly agree,” “somewhat agree,”
“somewhat disagree,” or “strongly disagree” is most likely a(n) ________.
A) unstructured questionnaire
B) online questionnaire
C) mail questionnaire
D) moderately structured questionnaire
E) completely structured questionnaire
Explain the pricing strategy being implemented when a retail store places the store’s
brand items next to the national brand items when the national brand items have a
slightly higher price than the store’s item. Why would a retailer do this?
Why is it important for marketers to analyze the positions of both direct and indirect
competitors? Give an example of direct and indirect competitors for a supermarket.
Explain the concept of a hybrid marketing system. What might be the advantages of a
company implementing this type of marketing system?
Briefly explain how marketers use marketing controls.
What is the intangibility of service? How might a package delivery service deal with
the intangibility characteristic of services?
Marketers can choose from two basic strategies: push or pull. Compare these two
strategies.
If demand is elastic, will sellers consider lowering their prices? Explain your answer.
Describe the basic market research process.
JetBlue is a low-fare airline. JetBlue gives customers a friendly cabin crew, roomy
overhead bins, live satellite TV at every leather seat, and even pay-per-view movies.
How is JetBlue striving to provide quality service? Explain your answer.
Can a consumer of a product be a stakeholder in the company that markets the product?
Briefly explain your answer.
How have marketers responded to an increasing sense of time poverty among
consumers?
Explain how a marketer determines whether an identified market segment is viable.
What are the two purposes of the laws governing American business? Describe how at
least two regulatory agencies fulfill these purposes.
XYZ Computers, Inc., a business with limited resources, uses a concentrated targeting
strategy. How might XYZ benefit from this?
What is a USP? When would a marketer use a USP strategy?