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If random selection is used to develop a sample, researchers can use statistical methods
to help determine the likely accuracy of the sample value; this is done in terms of
_____.
A. empirical clusters
B. prediction intervals
C. regression coefficients
D. confidence intervals
Answer:
Advertising objectives should
A. be specific, but not as specific as the objectives for the personal selling effort.
B. be set by the specialists-the creative people at the advertising agency.
C. be quite general so that ads will appeal to the largest possible audience.
D. determine the kinds of advertising needed.
E. be more specific for institutional advertising than for direct type competitive
advertising.
Answer:
A firm that is unable to obtain financing to manufacture new products is likely
encountering negative pressures from:
A. the competitive environment.
B. the technological environment.
C. the economic environment.
D. the political/legal environment.
E. the cultural/social environment.
Answer:
A firm has just received an invoice for $1,000 with the following terms: 3/10, net 30. In
this case, the firm:
A. should not worry about earning the cash discount because the amount is small.
B. can take a 10 percent discount if it pays within 3 days, and otherwise the full amount
is due in 30 days.
C. can take a 3 percent discount if it pays the invoice on the 30th day.
D. in effect, will be borrowing at an annual rate of 54 percent if it pays the invoice in 30
days.
E. should pay $900 if it pays within 10 days.
Answer:
Which of the following is a condition favorable to successful branding?
A. The product quality is difficult to maintain.
B. The product is difficult to label and identify by brand.
C. Favorable shelf locations or display spaces are available in stores.
D. Limited availability for the product in the market.
E. No economies of scale for the product.
Answer:
Use this information for question that refer to the Super Gaming Company and
Accessories (SGCA) case.
Kayla Jurgenson, marketing manager for Super Gaming Computers and Accessories
(SGCA), is reviewing her company's plans for the coming year.
SGCA sells its products through retail computer dealers and some specialty gaming
stores. Currently, SGCA is carried in 25 percent of all retail computer stores nationwide,
but in California is carried in only 10 percent of stores. So, Kayla has set an objective of
being in 25% of all retail computer stores in California within one year.
SGCA plans to introduce a new SuperDuperGamer model with special features that fits
its target market of teen and young adult gamers. The SuperDuperGamer uses a new
technology and is expected to be a breakthrough product, but it will be important to
build awareness for it to succeed. So, the advertising objective is for 40% of SGCA's
target market to be aware of the new SuperDuperGamer model within 3 months. SGCA
also wants to help its retailers reduce their current stock of SuperGamer computers
before the new model comes out in a month. The SuperGamer has been on the market
for two years and has been a top seller in the category. SGCA's advertising objective for
the SuperGamer computer is to reduce current dealer stock by 80% within the next
month.
SGCA is also introducing a SuperEnhancer sound card, which is designed to
significantly enhance the game-playing experience with older computers. Research with
gamers show that it is very well received, so the advertising objective for the
SuperEnhancer sound card is to gain 40% market share among all gaming-specific
sound cards in the next year. To help achieve that objective, Jurgenson is planning to
use an ad that shows the sound card and a game player being knocked off his chair by
the sound. The headline on the ad reads, "9 Out of 10 Gamers Say that the
SuperEnhancer Sound Beats All Others!"
All of SGCA's products are made from recycled material and the company wants to
promote its environmental practices. What kind of advertising would be most
appropriate to do this?
A. competitive advertising
B. comparative advertising
C. pioneering advertising
D. direct competitive advertising
E. institutional advertising
Answer:
A good job description for a salesperson:
A. Should be somewhat vague in order to give salespeople some flexibility.
B. Has nothing to do with the selection of new salespeople.
C. Lists the specific tasks that salespeople are expected to do.
D. Should not be used as a basis for performance evaluation.
E. None of these alternatives are correct.
Answer:
The "regrouping activity" which involves breaking carload or truckload shipments into
smaller quantities as products get closer to final customers is called:
A. sorting.
B. retailing.
C. assorting.
D. accumulating.
E. bulk-breaking.
Answer:
A customer service rep's main job is to:
A. take orders.
B. find a remedy when something goes wrong with a firm's marketing mix after a
purchase.
C. get new orders.
D. set up retail displays for retail customers.
E. listen to customer complaints.
Answer:
A producer of high quality stereo component equipment has developed a new line of
very inexpensive, low quality "rack systems" to sell through discount stores. It probably
should not use its current ______________ brand for the new line.
A. dealer
B. licensed
C. national
D. family
E. generic
Answer:
A marketing plan:
A. is a combination of several marketing strategies.
B. must cover a one-year period.
C. consists of a target market and an appropriate marketing mix.
D. includes the time-related details for implementing a marketing strategy.
E. All of these alternatives are correct.
Answer:
Which advertising agency 'supergroup" had the largest revenue (almost $14 billion) in
2009?
A. Omnicom Group
B. BBDO
C. WPP Group
D. Interpublic
E. Publicis Groupe
Answer:
______________ are capital items that cost less and are shorter-lived than installations.
A. Supplies
B. Staples
C. Component parts
D. Component materials
E. Accessory equipment
Answer:
Straight rebuy
A. decisions, as contrasted with modified rebuys, are more likely to involve multiple
buying influence.
B. vendor selections are likely to be made by a purchasing manager-without consulting
anyone else.
C. decisions are infrequent, but they typically take longer to make than new-task buying
decisions.
D. decisions usually involve getting negotiated bids from suppliers.
E. decisions cannot be influenced by advertising.
Answer:
The _________________ era is a time when a company emphasizes selling because of
the increased competition in the external environment.
A. supply
B. demand
C. production
D. marketing
E. sales
Answer:
_____ is an economical way to inform large numbers of potential customers about a
firm's products.
A. Innovation
B. Production
C. Advertising
D. Pricing
E. Encirclement
Answer:
A large producer of snack foods feels that retailers do not promote its products
aggressively enough-because they also sell competitors' products. The producer should
use some:
A. missionary sales reps.
B. more aggressive sales reps.
C. order takers.
D. order getters.
E. manufacturers' agents.
Answer:
Which of the following is NOT a concern in selecting the advertising media to use?
A. The advertising budget.
B. The nature of the media.
C. The target market.
D. The advertising objective.
E. All of these are relevant concerns.
Answer:
Use this information for question that refer to the Centerville Retailers and Wholesalers
case.
Carol Lamb has lived in Centerville all her life. She owns a retail store that sells hobby
and craft supplies. She bought the store after working there for 7 years. Carol has just
been asked to head up the Retailers and Wholesaler Group of the Centerville Chamber
of Commerce. The most active chamber members in her group are described below:
Walden's Leather is part of a regional chain of stores that sells leather goods-mostly
men's and women's clothing-with the upscale Walden's brand name. Walden's primarily
relies on its own stores where knowledgeable salespeople offer great service. Walden
products are also sold, on a limited basis, in some fine department stores.
Publisher's Helper is a small business started by Audrey Yang that provides and stocks
display racks for paperback books and magazines. Most retailers welcome the service
Audrey provides, in part because she does her own research to determine which
paperback books and magazines sell best in Centerville.
Cuzco's is Centerville's alternative to Walmart. The store sells a wide variety of
merchandise. The company used to concentrate its product mix on small appliances-but
now Cuzco's carries any product that it can sell profitably. Its low prices stimulate faster
turnovers and higher sales volumes.
Games Unlimited sells video games. Jamie Carraway, who owns the local store, signed
a contract with Games Unlimited and follows strict rules covering her store's operations
and the Games Unlimited marketing strategy. She pays that company a fee for
promotion it provides as well as commissions on her sales.
Johnson's Health and Beauty Supplies sells cosmetics and other health and beauty
products to retailers and salons throughout the greater Centerville area. It owns the
goods it sells to these retailer customers, and it provides all the wholesaling functions
they need.
Valu Grocer is an independent grocery store that belongs to an organization sponsored
by a large food wholesaler. The fifty stores grocery stores that share the Valu Grocer
name are linked by contracts that include basic operating procedures, storefront designs,
and joint promotion efforts.
Reddy and Sons sells equipment for several different manufacturers of plastic molding
in the Centerville area. It earns a commission from each manufacturer on the products it
sells for that manufacturer, but it does not take ownership of the equipment it sells nor
does it install the equipment.
Katrina's Salon started out as a low-status, low-price, low-margin hair salon 15 years
ago. After some success, the company moved into a nicer storefront, raised prices, and
now operates in the middle of the market.
Which of these businesses best fits the definition of a service merchant wholesaler?
A. Publisher's Helper
B. Valu Grocer
C. Reddy and Sons
D. Johnson's Health and Beauty Supplies
Answer:
Which of the following is a possible outcome of a sales promotion?
A. Sales increase during the period of the promotion and then remain at a higher level
than they were at the start of the promotion.
B. Sales increase during the period of the promotion, decrease when the promotion
ends, and then return at the original level where they were prior to the promotion.
C. Sales increase during the period of the promotion, but then immediately return to the
original level that they were prior to the promotion.
D. All of these are possible outcomes of a sales promotion.
Answer:
Strategy decisions pertaining to product features, packaging, product line assortment,
and branding will be most affected by which target market dimension?
A. Geographic location
B. Urgency to get need satisfied
C. Behavioral needs and attitudes of consumers
D. Demographic characteristics of potential customers
E. Geodemographic characteristics of potential customers
Answer:
The selling formula approach:
A. makes some general benefit statements to get the customer's attention and interest.
B. starts with a prepared presentation outline approach and leads the customer through
some logical steps to a final close.
C. involves developing a good understanding of the individual customer's needs before
trying to close the sale.
D. uses a memorized presentation that is not adapted to each individual customer.
E. is a problem-solving approach in which the customer and salesperson work together
to satisfy the customer's needs.
Answer:
The customer type component of the product-market should include:
A. the buyer of the product
B. the type of good and service
C. the user of the product
D. the geographic area where customers live
E. all of these alternatives should be in the customer type.
Answer:
Which of the following groups is likely to be the first to adopt a new product?
A. early majority
B. innovators
C. late majority
D. early adopters
E. laggards
Answer:
In advanced economies:
A. both supply and demand tend to be homogeneous.
B. producers and consumers are often separated in several ways.
C. most firms specialize in producing and selling small amounts of a huge assortment of
goods and services.
D. exchange is aided by discrepancies of quantity and assortment.
Answer:
The last step in the new-product development process is:
A. idea generation.
B. commercialization.
C. idea evaluation.
D. development.
E. screening.
Answer:
Regarding a "chain of supply":
A. All of the firms in the chain of supply should work together to meet the needs of the
customer at the end of the chain.
B. Logistics functions are not shifted or shared among the firms in the chain of supply.
C. Firms never outsource the whole job of planning and implementing their logistics
systems.
D. It always includes at least two channels of distribution.
E. None of these alternatives about "chain of supply" is correct.
Answer:
The primary function of a ______________ is to speed the flow of products and avoid
unnecessary storing costs.
A. commodity warehouse
B. distribution center
C. merchant wholesaler
D. public warehouse
E. private warehouse
Answer:
What is the level of involvement in a purchase decision for a small kitchen appliance?
A. Extensive
B. Limited
C. Low
D. Moderate
E. Routine
Answer:
Marketing research experiments
A. may be difficult to set up in real world situations.
B. may involve a combination of observing and questioning.
C. may be disrupted by competitors' promotion efforts.
D. may be disrupted by competitors' pricing efforts.
E. All of these alternatives are true.
Answer:
Why would Coca-Cola want to encourage its customers to store product in their homes?
A. More of the product is used or consumed
B. The sales price of the product decreases
C. Shipping time to transport the product is reduced
D. Manufacturing time to produce the product is reduced
E. Shipping costs to transport the product are reduced
Answer:
