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Suppose that you are the vice president of marketing for Target, the large retail store
chain. You want to keep your website and in-store services current with technological
advances. You would be experimenting with what is most likely the next expected
development in mobile technology, which is
A. wireless payments from mobile devices.
B. location-based social media applications.
C. mobile devices completely replacing desktop and laptop computers.
D. devices that block smartphone usage in retail stores.
E. RFID tags.
Answer:
Frank's Heating and Air Conditioning Company specializes in electric heat pumps.
Frank keeps track of the price of natural gas, knowing that
A. natural gas creates more environmental greenhouse effects than coal.
B. an increase in the price of natural gas will increase demand for his electrical heating
systems.
C. gas heating systems and electrical heating systems are complementary goods.
D. when the price of natural gas goes up, the quantity demanded also rises.
E. the demand for natural gas is price elastic.
Answer:
The attitudes that Ryan's customers develop after they have purchased his yearly lawn
care service will become the basis for determining whether they renew each year. He
needs to convey ____________ by guaranteeing his work in writing.
A. reliability
B. responsiveness
C. assurance
D. empathy
E. tangibles
Answer:
Strategic efforts to supply consumers with environmentally friendly merchandise are
called
A. reduce, reuse, recycle.
B. green marketing.
C. the green generation.
D. the inconvenient truth.
E. earth marketing.
Answer:
Tomas, a bank employee, doesn't feel that his coworkers accept him. He decides to
dress more casually, as they do, hoping to be accepted. Which level of Maslow's
Hierarchy of Needs is Tomas trying to work on?
A. esteem
B. physiological
C. safety
D. love
E. self-actualization
Answer:
When positioning products relative to competitors' offerings, firms typically are most
successful when they focus on opportunities
A. that build on their strengths relative to those of their competitors.
B. for diversification.
C. in international markets.
D. where value-based pricing can be ignored.
E. where customer excellence can be substituted for product excellence.
Answer:
A recent poll conducted by Time magazine found that 38 percent of U.S. consumers
A. actively tried to purchase from companies they considered responsible.
B. didn't care if a company acted responsibly.
C. were concerned with social responsibility, but not the ethical behavior of a company.
D. purchased from companies they perceived to be ethical or not ethical equally.
E. had no idea if the companies they purchased from were responsible.
Answer:
Leona is the logistics manager for the Barnes & Noble bookstore chain. She is weighing
the many benefits of the company's JIT system, but will need to consider that
just-in-time inventory management systems increase _______ costs.
A. sales force labor
B. transportation
C. promotional
D. advertising
E. new product development
Answer:
When a manufacturer chooses one or more retailing partners, the overriding
consideration must be
A. if customers can participate in mobile commerce.
B. the retailers' customary distribution intensity.
C. the satisfaction of the retailing partners.
D. the greatest possible customer convenience and satisfaction.
E. the overall cost to the manufacturer.
Answer:
Yara has identified an attractive potential customer for her biodiesel home power
system. She knows the customer is concerned about the environment and has
considerable financial resources. The customer is also a respected leader among
wealthy environmentalists in the area. Next Yara will
A. evaluate alternative systems available from competitors to see which is best for the
customer.
B. send the customer a list of frequently mentioned objections and responses to each.
C. decide if she wants to contact the customer.
D. establish goals for meeting with the customer.
E. call the customer and offer a first-time discount.
Answer:
The CEO of David's firm just came back from a business seminar. He called David into
his office and stated, "I just found out about the product life cycle curve in a strategy
seminar. This is a great tool. I want you to drop whatever you're doing and inventory all
of our products to determine exactly where they are in the product life cycle." David
needs to think fast for a good answer because he knows that
A. the product life cycle is not a useful concept.
B. it is often impossible to identify with precision where a product is in the product life
cycle.
C. the product life cycle is not helpful in companies like his that pay attention to
diffusion of innovation.
D. the idea has been discredited by recent research.
E. the product life cycle works only for certain types of firms.
Answer:
When studying culture, the challenge for marketers is to determine whether culture
A. can help identify a particular group that might be interested in the marketer's
products.
B. is regional or subregional.
C. reinforces stereotypes.
D. is related to educational achievement.
E. offers opportunities for competitors.
Answer:
Marketers rely on three types of social media: social networking sites, thought-sharing
sites, and
A. software application sites.
B. product review sites.
C. corporate websites.
D. media-sharing sites.
E. social bookmarking sites.
Answer:
The phrase "birds of a feather flock together" captures the idea of __________
segmentation.
A. geodemographic
B. benefit
C. psychographic
D. loyalty
E. geographic
Answer:
When travelers are bumped from overbooked flights, they are frequently offered
vouchers good for future travel. The dollar value of the voucher is the airline's estimate
of
A. perishable value.
B. distributive fairness.
C. empowerment.
D. procedural justice.
E. the size of the knowledge gap.
Answer:
Because services are __________, it is often difficult for marketers to convey the
benefits to consumers.
A. heterogeneous
B. inseparable
C. intangible
D. perishable
E. substantial
Answer:
In the 1980s, it was found that seven people died of cyanide poisoning after taking
Tylenol. What was Johnson & Johnson's response to this situation?
A. The company immediately withdrew all Tylenol from the market until it could
ensure the product's safety.
B. The company was forced to remove the Tylenol bottles following extensive
consumer outcry.
C. The company was ordered to remove the Tylenol bottles by the Food and Drug
Administration.
D. The company felt that nothing could stop Tylenol from losing most of its customers.
E. The company developed plans to sell the returned Tylenol bottles in less developed
countries.
Answer:
Dawn works for a firm that buys products directly from the manufacturer and resells
them to retailers, who then sell the products to consumers. Dawn works for a
A. retail distribution center.
B. retail jobber.
C. store representative.
D. wholesaler.
E. manufacturer's representative.
Answer:
A __________ gap is the difference between the firm's service standards and the service
it provides to customers.
A. seniority
B. knowledge
C. standards
D. delivery
E. communication
Answer:
Which of the following is not one of the broad factors manufacturers must consider
when establishing a strategy for getting their products into the hands of the ultimate
customer?
A. choosing retail partners
B. identifying types of retailers
C. developing retail strategy
D. managing an omnichannel strategy
E. lowering production costs
Answer:
An advance in technology called RFID makes it easier for manufacturers, distributors,
and retailers to track items through production, distribution, and sales. This advance
helps the firm
A. increase value to the consumer through media effectiveness promotion.
B. tailor its marketing messages.
C. meet inventory needs.
D. communicate with consumers on social media sites.
E. replace services with products.
Answer:
Which step in the buying process is most likely to happen in a straight rebuy situation?
A. product specification
B. RFP process
C. need recognition
D. proposal analysis
E. supplier selection
Answer:
Jenna has a large family and likes to stock up on large packs of basics like toilet paper,
paper towels, and large bottles of condiments like ketchup. Jenna would most likely
prefer to shop for these items at
A. a convenience store.
B. an off-price retailer.
C. a specialty store.
D. a warehouse club.
E. a category killer.
Answer:
A customer who is shopping for fashionable, but relatively low-cost merchandise in a
pleasant environment is shopping at a(n)
A. specialty store.
B. extreme value retailer.
C. full-line discount store.
D. department store.
E. convenience store.
Answer:
Paul subscribes to an Internet service that alerts him whenever other firms in his
industry are quoted in the media. Paul is using this type of marketing research primarily
to
A. provide a link between him and his production center.
B. help him understand the needs of his customers.
C. monitor his competitors.
D. increase profits through the sale of syndicated data.
E. decide how to price his new products.
Answer:
What is the difference between a coupon and a rebate?
A. The retailer handles coupons while manufacturers handle most rebates.
B. Coupons are issued for products and rebates are issued for services.
C. Coupons are for "cents/dollars off" while rebates are for "percentages off" the listed
price.
D. There is no difference between coupons and rebates.
E. The manufacturer handles coupons while retailers handle rebates.
Answer:
Geodemographic segmentation can be particularly useful for __________, because
customers typically patronize stores close to their neighborhood.
A. Internet marketers
B. wholesalers
C. retailers
D. consumer goods manufacturers
E. cable TV networks
Answer:
Getting a commitment from the customer to purchase your product is also known as
A. asking for the bacon.
B. closing the sale.
C. wrapping it up.
D. preparing for follow-up.
E. handling reservations.
Answer:
When Talbots, an upscale women's clothing store, tries to portray an image of
"traditional, conservative, and with good taste," it is appealing to its target market's
A. lifestyle.
B. geodemographics.
C. demographics.
D. loyalty.
E. PRIZM segment.
Answer:
Bernard's firm has set corporate direction to become one of the leaders in each of its
significant market segments. It was Bernard's job to examine the firm's pricing strategy
to determine how to maximize market share, even at the expense of profits in the short
run. What kind of company objective would guide Bernard's effort?
A. industry-oriented
B. sales-oriented
C. competitor-oriented
D. innovation-oriented
E. customer-oriented
Answer:
