Seminar selling is a method of personal selling in which __________.
a. the company provides a free audit of the buyers’ purchase behaviors to identify any
weaknesses and then provides formal training on more effective buying behaviors
b. a group of the organization’s R&D personnel conducts a product demonstration and
training seminar for all major customers
c. salespeople and other company resource people meet with buyers to discuss problems
and opportunities
d. a company sales team conducts an educational program for a customer’s technical
staff to describe state-of-the-art developments
e. a company selling services tries to overcome the problems associated with the
intangibility of service
Answer:
Ideally, before a new product is developed, a firm should have a precise protocol, which
is a statement that identifies: (1) __________; (2) specific customers’ needs, wants, and
preferences; and (3) what the product will be and do to satisfy consumers.
a. a clear plan for product distribution
b. an analysis of potential competitors’ products
c. a precise budget of how much can be spent for the marketing program
d. a well-defined target market
e. clear financial goals and expectations
Answer:
In the VALS framework, consumers can have abundant or minimal levels of
psychological, physical, and material resources. One segment with abundant resources,
known as __________, are successful, sophisticated, take-charge people with high
self-esteem and abundant resources of all kinds.
a. Experiencers
b. Innovators
c. Makers
d. Achievers
e. Strivers
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:
Figure 1.: General Mills Marketing Dashboard
Consider Figure 1.: General Mills Marketing Dashboard above. As part of the Warm
Delights team at General Mills, you are asked to analyze and interpret the marketing
dashboard for Warm Delights Minis. After a careful analysis of all four charts in the
dashboard, what explains the increased monthly unit sales and sales revenue of Warm
Delights Minis in the drugstore channel in late 2011?
a. both the increased percentage of drug stores carrying the brand and the increased
average number of flavors carried by a drug store
b. only the increased number of flavors carried by a drug store
c. only the shift in monthly unit sales from November to December from the grocery
channel to the drug channel
d. only the shift in monthly total sales revenues from November to December from the
grocery channel to the drug channel
e. only the increased percentage of drug stores carrying the brand
Answer:
A small electronics company manufactures a line of low- to moderate-quality stereo
components that are distributed through wholesalers to mass-market retailers such as
Walmart. The electronics company has begun production of a small line of high-quality,
professional studio-model components. How should the small electronics company best
distribute its new products?
a. use its established indirect marketing channel
b. distribute directly to mass market consumers
c. distribute through agents who sell to specialty electronics stores that will feature the
new line
d. sell directly to specialty electronics stores that will feature the new line
e. establish its own chain of electronics retail stores
Answer:
Facts and figures obtained by watching, either mechanically or in person, how people
actually behave are referred to as __________ data.
a. virtual
b. observational
c. hypothetical
d. primary source
e. statistical
Answer:
A positioning approach that involves seeking a less competitive, smaller market niche
in which to locate a brand is referred to as __________.
a. competitive repositioning
b. head-to-head positioning
c. differentiation positioning
d. downsize positioning
e. product repositioning
Answer:
Scrambled merchandising refers to
a. displaying merchandise and highlighting complementary products rather than
keeping all similar items together in rows on a shelf.
b. offering several unrelated product lines in a single store.
c. changing where items are displayed in a store to create interest and expose customers
to alternative product choices.
d. retailers that purchase odd-lots of overstocks or discontinued items for resale.
e. strip malls that house a seemingly mismatched assortment of retail outlets to create
more customer traffic.
Answer:
One type of television show is a category called TV reality shows. According to the
product life cycle framework, what is(are) the marketing objective(s) of the producers
for these reality shows when they were in the introduction stage of their product life
cycles?
a. gain awareness and stimulate the target market to watch
b. stress differentiation from other TV show formats
c. maintain viewer loyalty
d. allow viewers to watch the show on the Netflix channel
e. target viewers of ‘sitcoms,” or situation comedies
Answer:
The third step in the sequential process of building brand equity is to __________.
a. develop positive brand awareness
b. establish a brand’s meaning in the minds of consumers
c. elicit the proper consumer responses to a brand’s identity and meaning
d. create a consumer-brand connection
e. reward loyal customer behavior
Answer:
A huge shopping strip with multiple anchor (or national) stores is referred to as a
__________.
a. central business district
b. regional shopping center
c. community shopping center
d. strip mall
e. power center
Answer:
Procter & Gamble Co. created an advertisement for its Old Spice Red Zone
antiperspirant. In terms of the communication process, the __________ in the ad
informed prospective customers that the antiperspirant offered more protection than the
Old Spice High Endurance brand.
a. lesson
b. message
c. memo
d. source
e. feedback
Answer:
Which era of U.S. business history does the following statement best describe? “We are
in the business of satisfying the needs and wants of consumers.”
a. the production era
b. the sales era
c. the market orientation era
d. the marketing concept era
e. the societal marketing era
Answer:
The services market sells diverse services such as legal advice, auto repair, and dry
cleaning. Along with finance, insurance, real estate businesses, and __________,
communication and public utility firms, as well as not-for-profit organizations, these
firms represent about 75 percent of all industrial firms.
a. wholesalers
b. transportation
c. retailers
d. government units
e. educational institutions
Answer:
If used continuously, which of the following promotional elements will most likely lose
its effectiveness?
a. advertising
b. personal selling
c. sales promotion
d. publicity
e. direct marketing
Answer:
A salesforce survey forecast involves
a. asking prospective customers if they are likely to buy the product during some future
time period.
b. asking the firm’s salespeople to estimate sales during a coming period.
c. selecting the forecasting alternative that would allow a firm to survive financially
even if the forecasts were totally incorrect.
d. making decisions without any intervening steps.
e. averaging the projections obtained from just regional sales managers and then
making the final projection.
Answer:
The marketing programstep 3 in the strategic planning processanswers which question?
a. who
b. what
c. when
d. why
e. how
Answer:
Figure 1.
According to Figure 1. above, “D” represents which dimension of service quality?
a. reliability
b. empathy
c. assurance
d. tangibility (tangibles)
e. responsiveness
Answer:
The percentage change in quantity demanded relative to the percentage change in price
is referred to as
a. price elasticity of demand.
b. price elasticity of supply.
c. average demand.
d. marginal revenue.
e. derived demand.
Answer:
Hyundai Motor America (HMA) became the first automaker to offer consumers an
Internet parts ordering system. The system was targeted only to current Hyundai owners
and gave Hyundai the ability to collect a vast amount of customer data about people
who buy its cars. Which of Porter’s generic business strategies did Hyundai use when it
launched its Internet parts website?
a. cost leadership
b. differentiation focus
c. differentiation
d. cost focus
e. marketing focus
Answer:
A unique broker that acts in many ways like a manufacturer’s agent is a food broker,
representing buyers and sellers in the grocery industry. Food brokers differ from
conventional brokers because they act on behalf of producers on a permanent basis and
a. receive a commission for their services.
b. are paid a flat fee for each time the shelves are stocked.
c. are paid by both the buyer and seller separately depending upon the size of the order.
d. are paid a commission by the buyer and a bonus by the seller.
e. are paid a flat fee by both the buyer and seller, but receive a bonus based upon the
percentage of increased sales by quarter.
Answer:
Figure 1.
Figure 1. above represents the stages of the product life cycle. What does the portion of
the curve labeled “B” represent?
a. introduction
b. maturity
c. growth
d. accelerated development
e. decline
Answer:
When Home Depot switched its in-store light fixture displays to compact fluorescent
light bulbs it saved __________ per year.
a. $16 million
b. $24 million
c. $29 million
d. $31 million
e. $42 million
Answer:
Products that are introduced, decline, and seem to return are characteristic of the
__________ type of product life cycle.
a. high-learning
b. low-learning
c. fashion
d. fad
e. generalized
Answer:
The difference between the projection of the path to reach a new goal and the projection
of the path of the results of a plan already in place is referred to as the __________.
a. planning gap
b. contribution margin
c. points of difference
d. breakeven point
e. sales response function
Answer:
What is it called when a manufacturer offers discounts to resellers in the marketing
channel on the basis of where they are in the channel?
a. seasonal discounts
b. trade discounts
c. cash discounts
d. promotional allowances
e. trade-in allowances
Answer:
All of the following are ways a marketing manager can improve the implementation of
a marketing program EXCEPT:
a. reward successful implementation.
b. communicate goals and the means to achieve them.
c. schedule precise tasks, responsibilities, and deadlines.
d. avoid paralysis by analysis.
e. find the right person to implement the plans.
Answer:
The promotional mix includes __________, personal selling, sales promotion, public
relations, and direct marketing.
a. publicity
b. infomercials
c. advertising
d. risk-free trials
e. word-of-mouth
Answer:
Subway is one of the fastest growing __________.
a. product-distribution franchises
b. corporate chains
c. business-format franchises
d. independently owned retailers
e. horizontal marketing systems
Answer:
Which of the following pieces of information is used in market-product focus and goal
setting, the second step of the planning phase of the strategic marketing process?
a. market-product grids with target segments and product groupings
b. marketing return on investment
c. revenues associated with each point of market share
d. trends for industry and competitors
e. possible cannibalization effects on other products in the line
Answer:
Reductions in delivery times both in the marketplace and the supply chain have earned
firms such as Toyota and Xerox a reputation as “time-based competitors.” For Toyota
and Xerox, logistics
a. increases their customers’ inventory.
b. increases the number of steps in the manufacturing process.
c. includes the role of Toyota and Xerox as a drop shipper.
d. creates time and place utility for their customers.
e. does not influence their suppliers’ supply chain.
Answer:
Global companies have five strategies for matching products and their promotion
efforts to global markets. The strategy of selling virtually the same product in other
countries is referred to as
a. product adaptation.
b. product invention.
c. brand adaptation.
d. product extension.
e. product integration.
Answer: