The word “flow” as it relates to the definition of logistics management refers to
decisions needed to move
A. raw materials to the producer.
B. semi-finished materials to a merchant wholesaler.
C. finished products to the distributor.
D. finished products directly from the producer to the retailer.
E. a product from the source of raw materials to consumption.
Answer:
An ad for Campbell’s soup reads, “We haven’t changed that great taste your family’s
always loved.” This is an example of __________ advertising.
A. advocacy
B. comparative
C. persuasive
D. informative
E. reinforcement
Answer:
Which of the following statements regarding order getters is most accurate?
A. Order getters often replenish a retailer’s inventories.
B. Order getters are most often used in new-buy or modified rebuy situations.
C. Order getters handle orders obtained on inbound telemarketing.
D. Order getters typically process reorders for products already sold by the company.
E. Order getter sales calls traditionally require the lowest financial investment from the
firm.
Answer:
Which of the following statements about the price-setting process is most accurate?
A. When selecting a strategy for setting an initial price, it does not matter which one
you use as long as you stick with it.
B. Sometimes pricing strategies overlap, and a seasoned marketer will consider several
strategies when choosing an approximate price level.
C. Demand-oriented pricing approaches rely heavily on competitors’ prices.
D. Skimming pricing is a competition-oriented pricing strategy.
E. Penetration pricing is the best pricing strategy for companies trying to meet the goals
of a profit-oriented pricing approach.
Answer:
In terms of the diffusion of innovation, laggards account for __________ of product
adopters.
A. 2.5%
B. 13.5%
C. 16%
D. 34%
E. 50%
Answer:
When Clorox uses the Good Housekeeping Seal for its Fresh Step cat litter, its strategy
is to reduce a consumer’s __________ and encourage purchases.
A. consumer angst
B. cognitive dissonance
C. perceived risk
D. purchase anxiety
E. consumer cynicism
Answer:
The four Ps of the marketing mix are
A. priorities, personnel, placement, and profits.
B. prediction, production, pricing, and promotion.
C. product, price, production, and place.
D. product, price, promotion, and place.
E. predict, produce, package, and persuade.
Answer:
A small Canadian winery located in British Columbia has developed a superior tasting
wine. It has no overseas contacts but wants to get its wine on the shelves in selected
Asian and European markets where growth has been substantial in the last two years.
What type of exporting option would best suit this company?
A. direct exporting
B. licensing
C. indirect exporting
D. joint venture
E. cooperative partnership
Answer:
Dockers, the U.S. market leader in casual pants, originally intended its product as a
single pant for every situation. Dockers now promotes different looks for work,
weekend, dress, and golf. Dockers’ new strategy is designed to __________.
A. create brand awareness
B. create new use situations
C. increase a product’s use
D. find new customers
E. lower surplus inventory levels
Answer:
A brand community is a specialized form of the __________ reference group.
A. dissociative
B. aspiration
C. associative
D. VALS
E. social class
Answer:
During the introduction stage of the product life cycle, a(n) __________ pricing
strategy may be used. This pricing strategy charges a high initial price to recoup the
costs of product development.
A. penetration
B. cost-plus
C. target ROI
D. skimming
E. above-market
Answer:
Most advertising messages are made up of two elements, which are
A. expositional and persuasional.
B. informational and persuasional.
C. informational and creative.
D. functional and persuasional.
E. creative and rhetorical.
Answer:
When a company places an ad on Google, the action is a tactic of the __________
element of the marketing mix.
A. product
B. price
C. promotion
D. place
E. process
Answer:
Sales promotions that require participants to submit some kind of entry form but are
purely games of chance requiring no analytical or creative effort by the consumer are
referred to as
A. premiums.
B. rebates.
C. deals.
D. contests.
E. sweepstakes.
Answer:
Carmex partnered with LeBron James by using which of the following social media to
generate traffic to its site in an attempt to increase its customer base?
A. YouTube
B. LinkedIn
C. Facebook
D. Twitter
E. Pinterest
Answer:
Archer Daniels Midland Co. (ADM) is the world’s largest cocoa-bean processor. It buys
cocoa beans and converts them into cocoa powder and cocoa butter, which it then sells
to companies like Hershey’s that manufacture consumer products containing chocolate.
ADM is operating in a(n) __________ market.
A. consumer
B. government
C. service
D. reseller
E. industrial
Answer:
Rather than billing clients by the hour, some lawyers and their clients agree on a fixed
fee based on expected costs plus an agreed upon level of profit for the law firm. Which
pricing approach are they using?
A. target pricing
B. cost-plus pricing
C. customary pricing
D. experience curve pricing
E. bundle pricing
Answer:
Your best friend just bought a longboard at BC Surf & Sport. In terms of the marketing
channel, BC Surf & Sport is a(n) __________.
A. ultimate consumer
B. manufacturer
C. wholesaler
D. retailer
E. distributor
Answer:
Regional shopping centers refer to a
A. retail cluster in a downtown area.
B. retail location that typically has one primary store and about 20 to 40 smaller outlets,
and serves a population base of about 100,000.
C. cluster of stores that serve people who are within a five- to ten-minute drive and
serves a population base of under 30,000.
D. group of 50 to 150 stores, often containing two or three anchor stores, that typically
attracts customers who live or work within a 5- to 10-mile range.
E. retail cluster of stores in uptown areas.
Answer:
After defining the problem, the next step in the five-step marketing research approach is
to
A. develop the research plan.
B. evaluate the results.
C. examine the alternatives.
D. enumerate the uncertainties.
E. experiment.
Answer:
The demand for industrial products and services that is driven by demand for consumer
products and services is referred to as
A. secondary marketing.
B. derived demand.
C. reciprocal supply.
D. demand elasticity.
E. sequential demand.
Answer:
Nico wants to buy a new digital camera for his semester studying abroad but he knows
very little about cameras himself, having never owned one. As a result, he has begun
asking for advice from friends and relatives. In addition, he has talked to a salesperson
at a Wolf camera shop and Best Buy and has looked at some websites. Nico is engaging
in
A. problem recognition.
B. an internal search.
C. the purchase decision.
D. an external search.
E. the creation of an antecedent state.
Answer:
Marketers need to understand their firms’ buying centers. A series of questions can be
used to facilitate this process. Which of the following questions would be the LEAST
useful when trying to understand the operations of a buying center?
A. “Which individuals are in the buying center for the product or service?”
B. “What is the relative influence of each member of the group?”
C. “What are the buying criteria of each member?”
D. “How does each member of the group perceive our company, our products and
services, and our salespeople?”
E. “What criteria were used to select the members of the buying center?”
Answer:
Kim Nagele, senior sourcing manager at JCPenney, purchases tons of publication paper
annually at a cost of hundreds of millions of dollars. As described and inferred in the
text, Mr. Nagele performs all of the following roles in the JCPenney buying center
EXCEPT:
A. user
B. gatekeeper
C. influencer
D. buyer
E. decider
Answer:
The 50 million people of the population born between 1965 and 1976, also called the
__________, refers to Generation X.
A. Generation Y
B. baby bust
C. millennials
D. baby boomers
E. Generation Z
Answer:
A global marketing strategy refers to
A. the strategy used by multinational firms that have as many different product
variations, brand names, and advertising programs as countries in which they do
business.
B. the strategy of transnational firms not to employ adaptive marketing techniques
when there are cultural differences, but to redirect their marketing resources towards
customer education.
C. the strategy of transnational firms that employ the practice of standardizing
marketing activities when there are cultural similarities and adapting them when
cultures differ.
D. the global strategy of seeking out already established firms in other nations and
selling them the rights to manufacture and distribute the firm’s products through a host
nation’s local businesses.
E. the strategy currently used by most U.S. domestic firms that when entering a new
international market, these firms offer only those products that require the least amount
of product adaptation.
Answer:
As product adopters, members of the early majority
A. have a fear of debt and use neighbors and friends as information sources.
B. are skeptical and have below average social status.
C. are deliberate and use many informal social contacts.
D. are leaders in social settings and have a slightly above average education.
E. are venturesome, highly educated, and use multiple information sources.
Answer:
Setting the highest initial price that customers really desiring the product are willing to
pay when introducing a new or innovative product is referred to as a
A. skimming strategy.
B. penetration strategy.
C. price-lining strategy.
D. experience-curve pricing strategy.
E. prestige pricing strategy.
Answer:
The promotional objective of the introduction stage of the product life cycle is to
__________ consumers in order to increase their level of awareness of the product
offering.
A. inform
B. persuade
C. appeal to
D. remind
E. sway
Answer:
Figure 10-4
The consumers represented by D in Figure 10-4 above are called __________.
A. innovators
B. late majority
C. early majority
D. early adopters
E. laggards
Answer: