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Which of the following is the best way for a company to increase selling time?
A) implementing high-commission plans
B) reducing the number of customers
C) sharing less information with customers
D) simplifying administrative duties
E) implementing mass customization
Answer:
According to Michael Porter, what are three effective competitive positioning
strategies?
A) middle-of-the-roaders, focus, and overall cost leadership
B) focus, differentiation, and middle-of-the-roaders
C) overall cost leadership, differentiation, and middle-of-the-roaders
D) overall cost leadership, differentiation, and focus
E) differentiation, market segmentation, and focus
Answer:
A five-foot high cardboard display of Terry the polar bear, mascot of Terry's protein
shake, next to the shelf containing Terry's products in a supermarket is an example of
a(n) ________.
A) sample
B) point-of-purchase promotion
C) business promotion
D) advertising specialty
E) rebate
Answer:
________ means marketing a product in a foreign market without making any changes
to the product.
A) Product adaptation
B) Product invention
C) Communication adaptation
D) Straight product extension
E) Product augmentation
Answer:
Most companies are started by individuals who live by their wits. They visualize an
opportunity, take risks, and knock on every door to gain attention. Which of the
following stages in marketing strategy is being illustrated here?
A) exponential marketing
B) formulated marketing
C) entrepreneurial marketing
D) affinity marketing
E) ambush marketing
Answer:
Which of the following is true with regard to services?
A) Services refer to purely tangible products.
B) Services are a form of product that consists of activities, benefits, or satisfactions
offered for sale.
C) Services can be stored for later use.
D) Services can be easily separated from their providers.
E) Services are tangible product offerings whose quality can be easily measured.
Answer:
Whizz Corp. wishes to introduce a new hybrid car into mature markets in developed
countries with the goal of gaining mass-market share quickly. Which of the following
pricing strategies would help the firm meet its goal?
A) market-skimming pricing
B) market-penetration pricing
C) market-segmentation pricing
D) cost-plus pricing
E) captive-product pricing
Answer:
Which of the following can help a company create direct procurement accounts with
suppliers, through which company buyers can purchase equipment, materials, and
supplies directly?
A) backsourcing
B) extranet
C) company blog
D) reverse auction
E) trade exchange
Answer:
Which of the following factors influencing the business buying process do marketers
typically find most difficult to assess?
A) economic
B) technological
C) interpersonal
D) organizational
E) environmental
Answer:
________ involves changing the product to meet local requirements, conditions, or
wants.
A) Product invention
B) Straight product extension
C) Standard global marketing
D) Communication adaptation
E) Product adaptation
Answer:
Why do firms have difficulty accessing potential market areas in developing countries,
such as China and India?
A) inadequate distribution systems
B) anti-globalization efforts
C) highly centralized rural markets
D) limited manpower
E) high operating costs
Answer:
In which of the following situations has a company most actively embraced
customer-managed relationships?
A) American Airlines awards frequent flyer points to returning customers.
B) Paige Premium Denim jeans provide superior quality and perfect fit.
C) iRobot invites enthusiastic Roomba owners to develop and share their own uses for
the company's robotic vacuum cleaner.
D) Best Buy distinguishes between its best customers and its less profitable customers,
stocking merchandise to appeal to each group.
E) Toyota develops a marketing presence on social networks and other online
communities.
Answer:
________ are manufacturer-owned and operated stores that offer prices as low as 50
percent below retail on a wide range of mostly surplus, discounted, or irregular items.
A) Category killers
B) Factory outlets
C) Specialty stores
D) Superstores
E) Power centers
Answer:
Refer to the scenario below to answer the following question(s).
Ruben Delgado built his enterprise on the faithful patronage of four specialty shops and
a large contract from Elmore Distributors. But after two years, the maker of novelty
pens and pencils had to rethink his strategy when his contract with Elmore ended.
Ruben built a company reputation on the manufacturing and distribution of a variety of
wooden writing utensils with customized engravings. Specialty shops loved to display
the products in their fancy, lighted showcases, but such specialty shops alone were not
profitable. Ruben Delgado established a brand name, known merely as Delgado, and
decided to expand on it.
Ruben extended his writing utensil lines to include quills, felt-tip pens, and
multiple-cartridge pens that write in different colors. He even added a line of various
grades of personalized stationery and business cards. Perhaps Ruben's biggest added
touch, however, was the addition of two salespeople who would work to explain the
diverse array of products offered by Delgado, as well as nurture existing accounts.
"We make an excellent product," Ruben Delgado stated, "and we honor a good
guarantee on everything we sell. But let's face itwe face hundreds of competitors! We
need Delgado representatives out there to help prospects understand what they should
demand in something as simple as a writing tool." The Delgado brand was
fast-becoming synonymous with top-notch customer service. Part of the purchase
package brought personal visits from the Delgado representative, before the purchase
and long after.
Which type of product does Delgado manufacture?
A) industrial
B) convenience
C) specialty
D) shopping
E) unsought
Answer:
All of the following are disadvantages of team selling EXCEPT ________.
A) selling teams can be confusing and overwhelming for customers
B) salespeople who are used to having customers all to themselves may have trouble
learning to work with and trust others on a team
C) team selling reduces the overall efficiency of the selling process
D) individual contributions and compensations can be difficult to assess in team selling
E) team selling discourages individual contributors because the team receives credit for
good performance
Answer:
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services
by an identified sponsor is called ________.
A) sales promotion
B) direct marketing
C) advertising
D) personal selling
E) public relations
Answer:
For which product would a company use an exclusive distribution strategy?
A) luxury cars
B) newspapers
C) chewing gum
D) dairy products
E) soft drinks
Answer:
Which of the following is true of changes in the organization of distribution channels?
A) Developing new channels seldom causes conflict with a company's established
channels.
B) To remain competitive, product and service producers must use fewer marketing
channels.
C) The growth of the Internet threatens many brick-and-mortar companies with
disintermediation.
D) Companies have fewer channel-options today than they did in the past due to
economic problems.
E) Advances in technology have decreased the number of channels available to
entrepreneurial firms.
Answer:
Companies can identify competitors from a(n) ________ point of view by defining
competitors as companies that are trying to satisfy the same customer need or build
relationships with the same customer group.
A) customer
B) blue ocean
C) market
D) myopic
E) industry
Answer:
Refer to the scenario below to answer the following question(s).
Ruben Delgado was making wooden pens and pencils, which had unique engravings, as
a hobby until Simon Yoder recognized Ruben's talent. Simon immediately ordered 250
pens and pencils of various styles to be displayed in his shop's showcase. Within three
months, the wooden pencils were a hit with all students! Ruben Delgado had never
thought of marketing his talent, but Simon's enthusiasm and the recent sales were
enough to change his mind.
With limited resources, Ruben contacted three additional specialty shops within 100
miles that were situated near schools. He explained his manufacturing processes and
engraving options to each. All three shop owners placed a trial order. Within two
months, just prior to the holiday season, each shop owner placed an additional order.
Ruben was ecstatic! "I figured business would slow down after that," Ruben stated, "but
in February I was contacted by Elmore Distributors. At that point, I had to make a huge
decision about how far I wanted to go with this business."
Elmore Distributors provides products for school fundraisers in a seven-state area.
Ruben was offered a two-year contract and immediate inclusion in Elmore's
promotional flyer. Ruben Delgado accepted the offer and, along with it, the
responsibility to produce thousands of wooden pens and pencils. "I had to get a grip on
the magnitude of this project," Ruben added. He decided to place his major focus on the
large contract with Elmore. However, to avoid placing his total emphasis with one
customer, Ruben continued nurturing his four previously established accounts without
targeting any additional customers.
"At this point, I had set up an assembly line in a rented building," Ruben explained. "I
had to hire three full-time employees to work the line while I managed the customer
orders and purchased materials." Ruben paused. "But I can't take the Elmore project for
granted. It might not always be there. I'll have to have a good alternate plan if that day
comes."
In the scenario, Ruben has segmented his market based on ________.
A) geography
B) benefits sought
C) occasion
D) degree of loyalty
E) demographics
Answer:
According to the PLC, the ________ stage is reached when sales plunge to zero, or
when they drop to a low level where they continue for many years.
A) laggard
B) decline
C) maturity
D) growth
E) incubation
Answer:
In the case of ________ exporting, sellers handle their own exports.
A) direct
B) licensed
C) indirect
D) countervailing
E) multilateral
Answer:
Which of the following marketing management orientations focuses primarily on
improving efficiencies along the supply chain?
A) production concept
B) product concept
C) selling concept
D) marketing concept
E) societal marketing concept
Answer:
Refer to the scenario below to answer the following question(s).
Ruben Delgado was making wooden pens and pencils, which had unique engravings, as
a hobby until Simon Yoder recognized Ruben's talent. Simon immediately ordered 250
pens and pencils of various styles to be displayed in his shop's showcase. Within three
months, the wooden pencils were a hit with all students! Ruben Delgado had never
thought of marketing his talent, but Simon's enthusiasm and the recent sales were
enough to change his mind.
With limited resources, Ruben contacted three additional specialty shops within 100
miles that were situated near schools. He explained his manufacturing processes and
engraving options to each. All three shop owners placed a trial order. Within two
months, just prior to the holiday season, each shop owner placed an additional order.
Ruben was ecstatic! "I figured business would slow down after that," Ruben stated, "but
in February I was contacted by Elmore Distributors. At that point, I had to make a huge
decision about how far I wanted to go with this business."
Elmore Distributors provides products for school fundraisers in a seven-state area.
Ruben was offered a two-year contract and immediate inclusion in Elmore's
promotional flyer. Ruben Delgado accepted the offer and, along with it, the
responsibility to produce thousands of wooden pens and pencils. "I had to get a grip on
the magnitude of this project," Ruben added. He decided to place his major focus on the
large contract with Elmore. However, to avoid placing his total emphasis with one
customer, Ruben continued nurturing his four previously established accounts without
targeting any additional customers.
"At this point, I had set up an assembly line in a rented building," Ruben explained. "I
had to hire three full-time employees to work the line while I managed the customer
orders and purchased materials." Ruben paused. "But I can't take the Elmore project for
granted. It might not always be there. I'll have to have a good alternate plan if that day
comes."
If Ruben interacted one-to-one with his customers to design his products and services
according to individual needs, he would be practicing ________.
A) concentrated marketing
B) trigger-based marketing
C) undifferentiated marketing
D) mass customization
E) segmented marketing
Answer:
From the economic system's point of view, the role of ________ is to transform the
assortments of products made by producers into the assortments wanted by consumers.
A) upstream partners
B) marketing intermediaries
C) third-party logistics
D) price consultants
E) factory supervisors
Answer:
Which of the following statements is true regarding the old mass-media
communications model?
A) Mass-media costs are decreasing.
B) Mass-media audiences are increasing.
C) Many viewers are gaining control of message exposure through DVRs and video
streaming.
D) Ad clutter is decreasing.
E) Internet ad spending has stagnated and more marketers are shifting toward TV
advertising.
Answer:
Which of the following is true about behavioral segmentation on the basis of the loyalty
variable?
A) Consumers tend to pay more for products that are targeted at their respective age
group or generation.
B) By looking at customers who are shifting away from its brand, a company can learn
about its marketing weaknesses and take actions to correct them.
C) Highly loyal customers of a brand are less likely to engage in word-of-mouth
publicity than those who are not.
D) Completely loyal customers of a brand are typically loyal to two or three brands of a
given product.
E) Only consumers who seek premium or luxury services are subjected to behavioral
segmentation based on the loyalty variable.
Answer:
The ________ was established to replace GATT in 1995 and now oversees the original
GATT provisions.
A) WTO
B) EU
C) NAFTA
D) CAFTA
E) NATO
Answer:
________ refers to the measurement of brain activity to learn how consumers feel and
respond.
A) Biometrics
B) Demographics
C) Sampling
D) Neuromarketing
E) Psychographics
Answer:
________ refer to people in an organization's buying center who affect the buying
decision; they often help define specifications and provide information for evaluating
alternatives.
A) Users
B) Influencers
C) Buyers
D) Gatekeepers
E) Deciders
Answer:
