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a. True
b. False
Which of the following is true regarding leasing needed products from other
organizations?
a. It requires a high level of capital commitment.
b. It increases the sunk costs incurred by a firm.
c. It provides flexibility for a growing business allowing it to easily upgrade when
needed.
d. It makes it difficult for a firm to customize the product according to their needs.
A sales talk that presents a product or service in terms that are meaningful to the buyer
is referred to as a “features-benefits” presentation.
a. True
b. False
Which of the following methods develops a promotional budget based on a sound
evaluation of the firm’s promotional goals?
a. The fixed-sum-per-unit method
b. The meeting competition method
c. The percentage-of-sales method
d. The task-objective method
An income statement is a snapshot of what a company owns (called assets) and what it
owes (called liabilities) at a point in time.
a. True
b. False
You are used to working with the usual pricing objectives for domestic health insurance
organizations. Finding that work no longer challenging after ten years, you have moved
to the marketing department of the international headquarters of a travelers' health
insurer.
Which new objective joins the traditional objectives for your new job to set prices in
global marketing?
a. profitability of the premiums charged to customers
b. volume of customers who purchase travelers’ health insurance
c. price stability worldwide for every traveler
d. meeting competition from other travelers' health insurers
e. prestige of offering the best coverage with the access to the best healthcare options
_____ is a type of personal selling that relies on lists of family members and friends of
a salesperson, who organizes gatherings of potential customers for an in-home
demonstration of products.
a. span of control
b. field selling
c. inside selling
d. order processing
e. virtual sales team
f. team selling
g. approach
h. creative selling
i. presentation
j. sales promotion
k. premium
l. coupon
m. network marketing
n. cold calling
o. expectancy theory
p. over-the-counter selling
q. missionary selling
r. relationship selling
s. push money
t. consultative selling
Catalog retailing is growing at a slower rate than brick-and-mortar retailers.
a. True
b. False
Marketers have discovered that when they implement relationship marketing strategies,
it is more expensive to retain satisfied customers than attracting new customers.
a. True
b. False
The tax levied on imported goods is called a(n) _____.
a. exporting
b. WTO
c. infrastructure
d. exchange rate
e. tariff
f. import quota
g. dumping
h. ISO certification
i. foreign licensing
j. multinational corporation
k. global marketing strategy
l. multidomestic marketing strategy
m. countertrade
n. related party trade
o. exchange control
p. customs union
q. CAFTA-DR
r. importer
s. embargo
t. franchise
A young single person setting up an apartment for the first time is most likely to be a
good prospect for:
a. expensive furnishings.
b. luxury cars, personalized gifts and power tools.
c. small home appliances such as coffee makers and toasters.
d. health care products and insurance policies.
Which of the following statements concerning the global marketplace is true?
a. The global marketplace is diminishing because of Internet technology.
b. The global marketplace is growing because of trade agreements.
c. The global marketplace is growing due to the threat of the ability of a single nation to
manufacture, supply, and consume all that it produces.
d. The global marketplace is growing owing to the talent shortage in the home countries
of national companies.
Which of the following is true about business-to-business marketing and buyer-seller
relationships?
a. Buyers and sellers cooperate in business-to-business marketing through Web
services.
b. Manufacturers use a technique call national account selling to serve their smallest
customers.
c. EDI does not have non-commercial applications.
d. In order for Web services to work, the firms involved must have the same or
compatible software.
e. Buyer-managed inventory has replaced vendor-managed inventory in many instances
today.
Field selling is more expensive than other selling options and often requires
considerable technical expertise.
a. True
b. False
Affinity marketing programs focus on creating extra value for consumers.
a. True
b. False
Fresh Meadows, an organic yogurt manufacturer, organizes camps to assist and
encourage farmers in adopting organic farming practices. Fresh Meadows is engaging
in socially responsible marketing.
a. True
b. False
Consumers have a certain range within which their product-quality perceptions vary
directly with price. This range reflects the concept of price:
a. limits.
b. variations.
c. controls.
d. resistance.
Firms usually sell fewer standardized products to organizational buyers than to ultimate
consumers.
a. True
b. False
The dominant and controlling member of a marketing channel is called the channel
captain.
a. True
b. False
Which of the following is true of relationship marketing?
a. It focuses on short-term, one-time exchanges with limited communications.
b. Its only goal is “sell something—now.”
c. It views customers as equal partners in buyer-seller transactions.
d. It involves little or no ongoing relationship between the buyers and sellers.
Fameus is a talent hunt agency focusing on the youth looking to enter Hollywood. As
part of their marketing strategy, Fameus generates time and place utility by:
a. creating a nationwide advertising campaign to attract applicants.
b. launching roadshows across cities and conduct talent hunts at campuses during
Thanksgiving.
c. endorsing their services using famous celebrities from Hollywood.
d. opening a wellequipped studio with pre and postproduction facilities.
Carlos is at the grocery store to pick-up a few items for dinner. While he's in the store,
he remembers that he's just run out of laundry detergent. He walks to the aisle where the
laundry detergent is and picks up the brand he always buys - Tide liquid. What type of
purchasing decision did Carolos make when selecting the Tide detergent?
a. routinized response behavior
b. limited problem solving
c. extended problem solving
d. family purchase behavior
MacRumors.com, a website that aggregates Mac and Apple related news, rumors, and
reports, can be regarded as a blogging site as it allows users to post all the news related
to a specific group of products.
a. True
b. False
A customs union seeks to reconcile all government regulations affecting trade.
a. True
b. False
One of the key criteria considered while forming a strategic alliance is the size and
location of the partner firm.
a. True
b. False
A _____ often leads new--product development programs, including creation of
new--product ideas and recommendations for improving existing products.
a. product architect
b. product manager
c. category manager
d. product analyst
The engine in Marcel’s lawn mower recently stopped working. Marcel has decided that
it’s a better financial decision to purchase a new lawn mower rather than to replace the
engine. He has decided to purchase either a Craftsman or a John Deere model. Marcel
feels that the Craftsman is a high-quality lawn mower. On the other hand, his father has
used a John Deere mower for years and has recommended it to him. Marcel decides to
purchase the Craftsman lawn mower.
__________ is the process that Marcel is undergoing in deciding which lawn mower to
purchase, and his purchase is being affected by ___________.
a. consumer behavior; personal factors
b. consumer behavior; interpersonal influences
c. personal factors; consumer behavior
d. interpersonal influences; consumer behavior
e. personal factors; interpersonal influences
Transaction-based marketing differs from relationship marketing as transaction-based
marketing:
a. ranks customer service as a high priority.
b. encourages frequent customer contact.
c. emphasizes on individual sales rather than long-term relationships.
d. views customers as equal partners in buyer-seller transactions.
“The Millennial Generation” is also known as _____.
a. the Baby Boomers generation
b. Generation Next
c. Generation X
d. the Tweens generation
According to the text, once a company's customers have become "loyal supporters", the
company should seek to further the relationship with those customers so that they
become _______.
a. advocates
b. referral generators
c. clients
d. repeat purchasers
An arrangement that requires a marketing intermediary to carry items other than those
they want to sell is known as a(n) _____.
a. contractual collusion
b. tying agreement
c. closed sales territorial restriction
d. exclusive dealership agreement
Developing a customer service strategy for your sporting goods store, you know that
services can add value to the shopping experience. Your business partner agrees, but
makes a comment that shows he doesn't really understand this type of strategy. Identify
his comment.
a. At this point, we should agree to offer gift wrapping.
b. At this point, we should specify our return privileges.
c. At this point, we should agree to provide home delivery.
d. We don't need to decide whether to charge customers for gift wrapping.
e. Our basic objective is to attract and retain customers.
The Asian Americans are currently the largest ethnic minority group in the United
States.
a. True
b. False
A(n) _____ is a blog post that contains only a few words.
a. influencers
b. social networking sites
c. social media monitoring
d. app
e. online forum
f. demographics
g. social media tool
h. return on investment
i. microblog
j. social media marketing
k. social media
l. transparency
m. social media marketing plan
n. bookmarking site
o. social media strategist
p. social media analytics
q. social media platform
r. content marketing
s. social news site
t. QR codes
Employees at middlemanagement levels engage themselves in business unit budgets
and divisional policies and procedures.
a. True
b. False
