An advantage that cannot be copied by the competition is called a(n) ___ competitive
advantage.
a. sustainable
b. monopolistic
c. primary
d. unique
e. dominant
Answer:
Which of the following is the best example of a sale that could only take place in the
business market?
a. A professor is purchasing a Mac to use at home
b. A music store owner is ordering the newest Elvis Ultimate Live collection DVD for
her mother
c. A teen is purchasing ringtones to use on her phone
d. A librarian is purchasing new books for the school’s library
e. A librarian purchasing a new book for her nephew
Answer:
Traceability with respect to transporting modes refers to the relative ease with which a
shipment can be located and transferred.
a. True
b. False
Answer:
The only type of service processing required for a comedian entertaining at a local club
is information processing.
a. True
b. False
Answer:
HallmarkCards
Hallmark Cards is just one of thousands of companies that have a strong online
presence. Hallmark’s Twitter
account and Facebook page allow the company to talk directly to customers and also
lets the customers talk to each other. Hallmark Social Calendar is a Facebook app that
helps users stay on top of special events like birthdays and anniversaries; customers can
use the app to send electronic cards to their friends’ PCs and cell phones. In addition,
Hallmark operates several blogs, where it shares anecdotes about the company and
often solicits opinions on various aspects of greeting card design and on ideas for gifts
and their pricing. The company encourages Facebook fans to talk about their lifestyles
and even upload photos of themselves so that it can better understand its market. The
conversations consumers have with each other often result in interesting insights, such
as gift ideas for specific occasions and the prices they are willing to pay for different
gifts.
Refer to Hallmark Cards. Hallmark’s Facebook page is best characterized as:
a. owned media.
b. secured media.
c. shared media.
d. paid media.
e. earned media.
Answer:
The publisher of a Canadian business magazine wanted to make several major changes
in the magazine’s content and format. To determine what changes would be supported
by its subscribers and what changes would not be welcomed, the publisher should
engage in:
a. advertising
b. database marketing
c. marketing research
d. a data retrieval system
e. secondary data
Answer:
All of the following are roles found within a buying center EXCEPT:
a. influencers.
b. gatekeepers.
c. suppliers.
d. users.
e. initiators.
Answer:
When the Boeing Co. announced it would delay the introduction of its new 787, the
CEO blamed the problem on the company’s supply chain. Airplanes use thousands of
individual parts, and in an attempt to relieve the smaller, individual supply chain
quandary, Boeing used major suppliers to construct large pieces of the plane. Boeing
would have benefited from more ___ integration.
a. channel
b. supply chain
c. MRP
d. functional
e. tactical distribution
Answer:
Trina is a physical fitness trainer who tries to get to know her clients and their specific
fitness goals. Trina understands that she is in the ____ processing business.
a. people
b. mechanical
c. possession
d. mental
e. information
Answer:
The marketing researcher for Bubastis Cat Treats has noticed a growing number of cat
owners purchasing organic treats for their pets. The researcher thinks there is a market
for organic cat treats, but she’s not sure if the segment is substantial. In this case,
substantiality means the segment:
a. has enough special stores, magazines, and other outlets that it will be possible to
direct advertisements at this group
b. is large enough to permit a profitable market effort toward its members
c. exhibits a response rate to marketing variables different from the rates of other
segments
d. is too large and needs to be reduced to a more easily identifiable and measurable size
e. will be difficult to develop a product to match this group of buyers
Answer:
When demand for a product is _____, an increase or decrease in the price of the product
will not significantly affect demand for the product.
a. responsive
b. elastic
c. inelastic
d. derived
e. bundled
Answer:
_____ is the collaborative efforts of people to achieve common objectives.
a. Effort training
b. Teamwork
c. Empowerment
d. OJT training
e. Mediation
Answer:
Berkshire Hathaway Inc., a large property insurance company, owns a large chain of
jewelry stores and has recently purchased Russell Corporation, a manufacturer of
sporting goods. Berkshire Hathaway uses a market penetration strategy.
a. True
b. False
Answer:
WrestlingMerchandise
Market research has shown that 6- to 17-year-old males, 18- to 24-year-old females, and
18- to 44-year-old males are most likely to watch a televised professional wrestling
event or attend a live match. Wrestling events are regularly broadcast in 120 different
countries. Merchandise licensed by World Wrestling Entertainment (formerly known as
the World Wrestling Federation) can be purchased at JCPenney and Walmart. Clothes
for adults are used to reach markets that may not buy action figures, video games, and
novelty candy, but who are still proud to sport World Wrestling Entertainment (WWE)
trademarks.
Refer to Wrestling Merchandise. Most wrestling fans live in the southern United States.
Based on this information, what segmentation base would be appropriate?
a. Geographic
b. Demographic
c. Psychographic
d. Product use
e. Benefit sought
Answer:
U.S. service firms such as financial institutions and construction, engineering, and
insurance companies will have a difficult time expanding to global markets because
competing foreign firms possess many competitive advantages.
a. True
b. False
Answer:
KraftFoods
Kraft Foods has established dedicated teams to focus on their business with many of
their largest customers. With “Team Kroger,” Kraft has combined with Nabisco selling
organizations in order to bring more unique shopper insights to Kroger supermarkets.
This helps Kroger understand their shoppers and customize their programs to grow
even more. At the same time, Kraft has strengthened its relationship with Kroger by
gaining a better understanding of the supermarket’s needs and how it can help support
Kroger’s business objectives concurrently with its own.
Refer to Kraft Foods. The AIDA concept is encouraged among the sales teams that
focus on other resellers besides Kroger because it can help in the process.
a. JIT
b. communication
c. networking
d. selling
e. cold calling
Answer:
Which of the following is the inventory control system that manages the replenishment
of raw materials, supplies, and components from the supplier to the manufacturer?
a. Electronic data interchange (EDI)
b. Distribution resource planning (DRP)
c. Third-party logistics firm (3PL)
d. Materials requirement planning (MRP)
e. Activity-based costing (ABC)
Answer:
All of the following are individual factors influencing consumer buying decisions
EXCEPT:
a. gender
b. age
c. family
d. personality
e. life cycle stage
Answer:
The best experiments are those in which:
a. all variables are allowed to act freely.
b. all variables are held constant except the ones being manipulated.
c. all factors provide the desired results.
d. the subjects are unpaid volunteers.
e. two variables are held constant while all of the others are manipulated.
Answer:
AppleStores
Apple, Inc. opened its first Apple Store in 2001 and currently has hundreds of stores
spanning several countries. Many of the Apple Stores are inside malls, but Apple also
has several freestanding stores, which they call their flagship stores, with each looking a
little different on the outside. These are located in New York City, Boston, Los Angeles,
Chicago, San Francisco, Montreal, Tokyo, and Osaka.
The store in New York City is a glass cube with a glass cylindrical elevator and spiral
staircase that leads to an underground store. Inside, they have long tables displaying
products ranging from the iMac, MacBook Air, iPods, printers, cameras, and other
accessories. All these products are accessible to customers who can try them out and
ask various questions of informed associates. The walls are mostly metallic, and the
signs are all backlit.
All stores have a Genius Bar where customers can receive technical advice or set up
service and repair for their products. To address the needs of the many iPod users, some
stores, such as the New York store, have set up a separate iPod Bar where customers
can get their own technical assistance. They also have an iMac station for kids who
want to try out games and learning products and a theater for workshops, product
training sessions, and special presentations.
Apple introduced the handheld Easy Pay system where customers don”t have to wait in
line to purchase products. With a simple click of a paperless, handheld credit card
scanner, the employee brings the cash register to the customer. Items can be rung up
anywhere on the show room floor. Apple plans to open several more stores in the years
to come.
Apple also has its online store. At its Web site, a customer can order any Mac or iPod
product, plus a large variety of accessories. In addition to its product offerings, a
customer can watch a demonstration of how products work or check out the latest Mac
ads or news.
Refer to Apple Stores. Some shoppers purposely plan to visit the Apple store on Fifth
Avenue in New York City, which is characteristic of:
a. generator stores.
b. lifestyle stores.
c. interactive stores.
d. m-stores.
e. destination stores.
Answer:
An external information search is especially important when:
a. there is a great deal of past experience
b. there are high costs associated with making an incorrect decision
c. the cost of gathering information is high
d. buying frequently purchased, low-cost items
e. there is little risk of making an incorrect decision
Answer:
Social media include all of the following EXCEPT:
a. blogs
b. LinkedIn
c. a pop-up ad on the ESPN Web site
d. YouTube
e. All of the above are examples of social media.
Answer:
A Boston diamond distributor has developed the first branded diamond called Hearts on
Fire to help smaller retailers counter the volume jewelers’ aggressive price discounting.
This move is meant to:
a. take away trademark rights.
b. build product identity and customer loyalty.
c. create a catchy phrase to promote diamonds.
d. combat the quality appeal of generic products.
e. combat low-cost production of generic brands.
Answer:
____ is any form of sponsor-identified, impersonal paid mass communication.
a. Advertising
b. Publicity
c. Promotion
d. Public relations
e. Nonpaid communication
Answer:
At what level of the pyramid of corporate social responsibility will a company be a
good corporate citizen?
a. Economic
b. Philanthropic
c. Social
d. Legal
e. Ethical
Answer:
The most popular method for gathering primary data is ____ , in which a researcher
interacts with people to obtain facts, opinions, and attitudes.
a. heuristic oriented
b. survey research
c. experiments
d. observation research
e. single-source research
Answer:
An advertising campaign:
a. may contain a wide variety of themes and slogans.
b. extends for a defined period of time.
c. continues for the life of the product.
d. starts with determining which media will be used.
e. rarely has a specific budget.
Answer:
Which of the following is the most difficult for marketing managers to forecast,
influence, or integrate into marketing plans?
a. Technology
b. Social change
c. Demography
d. Competition
e. Economic conditions
Answer:
The Canadian lobster harvest requires special handling coupled with rapid
transportation to ensure the cargo reaches destinations alive. The favored transportation
mode would be:
a. air
b. water
c. truck
d. pipeline
e. rail
Answer:
In 2006, Atlanta once again hosted the Peachtree Road Race, a running event that
attracts many world-caliber racers. This year, race officials also sanctioned a race
conducted in Iraq so that soldiers from Georgia would not have to miss the annual
event. The winners of the Mideast race as well as scenes of the actual race were
televised. In terms of a promotional mix, this Iraqi Peachtree Race was as example of:
a. advertising and personal selling efforts.
b. strategic product promotions and resulting sales.
c. a target marketing strategy.
d. sales promotion efforts.
e. a public relations strategy and resulting publicity.
Answer: