Which of the following is a traditional right of sellers?
A) the right to introduce any product in any size and style, provided it is not hazardous
to personal health or safety
B) the right to expect a product to be safe
C) the right to expect a product to perform as claimed
D) the right to consume now in a way that will preserve and sustain the world for future
generations of consumers
E) the right to be well informed about important aspects of a product
According to Maslow’s hierarchy of needs, which of the following is most likely an
esteem need?
A) love
B) security
C) hunger
D) self-development
E) status
An innovation management system would most likely be used by ________.
A) managers to update details about customer information
B) brand managers to collect, review, and evaluate new product ideas
C) suppliers to access inventory information
D) product managers to track logistics of a new product
E) human resource managers to update information on employee incentives
Which of the following is a characteristic of an inside sales force?
A) It travels to make sales calls on customers in the field.
B) It receives administrative backup from outside sales forces.
C) It cannot sell or service accounts directly.
D) It eliminates the need to have an outside sales force.
E) It conducts business from an office via telephone.
What is the purpose of a sales manager using a time-and-duty analysis?
A) compensating salespeople
B) prospecting customers
C) recruiting salespeople
D) forming sales teams
E) supervising salespeople
Which of the following generally increases the total demand for business products?
A) an increase in product price
B) a reduction in the number of business buyers
C) an increase in consumer demand
D) low buyer demand
E) high production costs
Which of the following is a disadvantage of a team-based approach to new product
development?
A) It lengthens the time required to get the right products to market.
B) It involves the use of a rigid, sequential product development approach.
C) A bottleneck at one place can seriously hinder the entire project.
D) Organizational confusion and tension are likely to affect the process.
E) The process is highly ineffective for products with short life cycles.
Which of the following is a disadvantage of licensing?
A) The licensing company gains entry into a foreign market at a high risk.
B) It takes a lot of time for the licensee to gain production expertise and name.
C) Licensing is a complex way for a manufacturer to enter international marketing.
D) The licensor potentially creates a competitor in the form of the licensee.
E) The licensee is restricted from gaining knowledge about the licensor’s intellectual
property.
________ are defined as states of felt deprivation.
A) Needs
B) Ideas
C) Demands
D) Values
E) Exchanges
Under a ________ product development approach, one company department works to
complete its stage of the product development process before passing the new product
along to the next department and stage.
A) cross-sectional
B) simultaneous
C) sequential
D) team-based
E) systematic
Which of the following examples represents a territorial sales-force structure?
A) Maxine Pharmaceuticals organizes its sales force based on each salesperson’s
expertise on specific drugs manufactured by the firm.
B) Cherrie Boutique sells its products through a network of teams, each of which
handles a specific product, but products are sold from only one location.
C) Verra Designers operates from its landmark store in New York, and customers from
around the world visit the store to buy original merchandise at steep prices.
D) Milton’s, a specialty liquor brewery, uses half of its sales force to cater to existing
customers, and the rest to identify new customers.
E) Oriental Meals, producers of precooked Chinese meals, markets its products
throughout the country using a network of regional sales offices.
Easy Life manufactures a wide range of kitchen appliances, healthcare products, and
cosmetics. Its salespeople are divided on the basis of their expertise in a product
category. Again, within each category, they are divided into teams addressing large
retail customers, convenience stores, and the general public. Which of the following
sales-force structures has most likely been combined to form this complex sales-force
structure?
A) territorial and market
B) product and market
C) product and territorial
D) geographical and product
E) market and customer
Gershwin, a musical toy for toddlers, is in the maturity stage of the product life cycle,
and Gershwin managers have decided to modify the product. What will Gershwin
managers most likely do to achieve this goal?
A) change distributors
B) offer coupons for the toy
C) change the packaging of the toy
D) launch an online advertising campaign
E) cut prices of the toy to attract new customers
Vac “N” Sew, a consumer electronics outlet, offers a price reduction of $100 when
customers bring in a used vacuum cleaner and exchange it for a new vacuum cleaner or
sewing machine. This is an example of a ________.
A) functional discount
B) cash discount
C) seasonal discount
D) trade-in allowance
E) by-product allowance
Trainstar, a sportswear equipment manufacturer, releases a new line of energy drinks
called VitaZing. The television ad for the energy drink shows people jogging, working
out in a gym, and doing aerobics. The actors then take a break to drink VitaZing, which
visibly re-energizes them and leads them to continue exercising. Which advertising
style is most likely used in the VitaZing ad?
A) scientific evidence
B) technical expertise
C) personality symbol
D) testimonial evidence
E) lifestyle
Which of the following is a pure tangible good?
A) shampoo
B) a spa treatment
C) financial advice
D) a meal at a restaurant
E) a medical check-up
The stage in which a product concept is presented to groups of target consumers
physically or symbolically is referred to as ________.
A) concept testing
B) concept development
C) test marketing
D) marketing strategy development
E) crowdsourcing
________ marketing tailors brands and promotions to the needs and wants of specific
cities, neighborhoods, and even stores.
A) Differentiated
B) Mass
C) Niche
D) Local
E) Individual