Retail convergence most likely leads to ________.
A) reduced differentiation
B) reduced competition
C) increased sales
D) increased profit margins
E) reduced advertising costs
Mercury Electric, a leading manufacturer of kitchen appliances, releases a new line of
blenders called SpinPro. To boost sales, Mercury Electric gives scratch-and-win
coupons to all buyers and provides a three-day trip to Hawaii for the winner. Which
element of the promotion mix has Mercury Electric used in this scenario?
A) public relations
B) crowdsourcing
C) advertising
D) sales promotion
E) personal selling
Which of the following best describes product positioning?
A) differentiating a market offering to create superior customer value
B) arranging for a product to occupy a clear, distinctive, and desirable place relative to
competing products in the minds of target consumers
C) identifying consumer needs and creating a product to meet those needs
D) evaluating each market segment’s attractiveness and selecting one or more segments
to enter
E) dividing a market into distinct groups of buyers who have different needs,
characteristics, or behaviors
In which of the following steps of the selling process does a salesperson ask a buyer for
an order?
A) preapproach
B) qualifying
C) closing
D) prospecting
E) approach
Which of the following is the best example of a salutary product?
A) cereal
B) cigarettes
C) bottled water
D) junk food
E) dental insurance
Concerns about barriers to entry are most likely an aspect of ________ decisions.
A) advertising
B) product
C) packaging
D) channel
E) competitive relations
A laundry detergent that consumers purchase frequently, with minimum comparisons, is
an example of a(n) ________ product.
A) unsought
B) shopping
C) convenience
D) specialty
E) industrial
A common criticism of the marketing system is that intermediaries ________.
A) are too few in number
B) are typically inefficient
C) provide only essential services
D) undervalue their service costs
E) are overly protective of manufacturers’ interests
________ costs refer to the sum of the fixed and variable costs for any given level of
production.
A) Target
B) Marginal
C) Value-based
D) Total
E) Break-even
Which of the following is an international division organized based on different
merchandise categories?
A) global organization
B) world product group
C) geographical organization
D) export department
E) international subsidiary
Glenda is searching airline schedules on HolApp, a mobile Web application. While
browsing the application, a banner appears on the mobile screen showcasing offers and
discounts on air tickets. The banner is best referred to as a(n) ________.
A) online display advertisement
B) contextual advertisement
C) infomercial
D) phishing scam
E) advertorial
Governments most likely enact business legislation to ________.
A) prevent unfair competition in the market
B) allow a single large monopoly in the market
C) prevent alternative products from entering the market
D) protect the interests of producers rather than society
E) dissociate social responsibility from commerce
Which sustainable marketing principle emphasizes building long-run consumer loyalty
and relationships?
A) sense-of-mission marketing
B) innovative marketing
C) customer value marketing
D) consumerist marketing
E) differential marketing
Beverages that are high in sugar are called ________ products.
A) deficient
B) pleasing
C) salutary
D) desirable
E) salubrious
What is telemarketing?
A) It is the process of promoting products through 30-minute-long infomercials.
B) It is a form of marketing that uses the telephone to sell directly to businesses and
consumers.
C) It is the process of marketing products and services using direct-response television
advertising.
D) It is a marketing system where product information is provided through unmanned
ordering machines.
E) It is the process of selling products through affiliate networks and social media sites.
A ________ is made up of a company, its suppliers, its distributors, and its customers
who partner with each other to improve the performance of the entire system.
A) value chain
B) shareholder network
C) business portfolio
D) value delivery network
E) growth-share matrix
JJ Distributors Ltd. buys electronic products from manufacturers for wholesale and sells
them to various retail outlets. To which of the following markets does JJ Distributors
Ltd. directly cater?
A) business markets
B) reseller markets
C) manufacturer markets
D) supplier markets
E) consumer markets
JP Wholesalers is one of the largest wholesalers of wooden furnishings in the country.
Recently, the company opened a chain of stores called JP Designer Homes that has
become popular due to the good reputation the company has as a wholesaler. The
company has now started acquiring smaller retail chains and consolidating its position
in the market. Which of the following trends is reflected in this scenario?
A) the shift toward self-service retailing
B) the decline of superstores and megastores
C) the decline of the voluntary chain distribution method
D) the rise of franchise organizations and joint partnerships
E) the blurring of distinctions between retailers and wholesalers