An order getter refers to
A. a salesperson who specializes in identifying, analyzing, and solving customer
problems, but who does not actually sell products and services.
B. a salesperson who processes routine orders or reorders for products that are presold
by the outbound telemarketers.
C. a salesperson who sells in a conventional sense and identifies prospective customers,
provides customers with information, persuades customers to buy, closes sales, and
follows up on customers’ use of a product or service.
D. a person on the selling team who is responsible for obtaining qualified leads.
E. a member of the sales support team who does not directly solicit orders but rather
concentrates on performing promotional activities and introducing new products.
Answer:
There are six commonly used techniques to deal with objections: acknowledge and
convert the objection; postpone; agree and neutralize; __________; denial; and ignore
the objection.
A. redirect the conversation
B. defer to a supervisor
C. probe by asking additional questions
D. accept the objection
E. distract by identifying competitor shortcomings
Answer:
Purchasing that aims to integrate environmental considerations into all stages of an
organization’s buying process with the goal of reducing the impact on human health and
the physical environment is referred to as
A. ecological procurement.
B. sustainable procurement.
C. green marketing.
D. supplier partnership.
E. stakeholder procurement.
Answer:
A __________ is a federal, state, county, or city unit that provides a specific service to
its constituents.
A. business firm
B. subchapter S corporation
C. government agency
D. cooperative
E. nonprofit organization
Answer:
Corporate culture manifests itself in many different ways: the ethical behavior of top
management, expectations for ethical behavior present in formal codes of ethics, and
A. contracts and agreements between members of the same industry.
B. state and local laws regarding ethical business behavior.
C. the dress codes, manner of work, and sayings of its employees.
D. the socially responsible behaviors of its customers.
E. the involvement of shareholders with an organization’s day-to-day marketing
decisions.
Answer:
A consideration set refers to
A. the group of brands a consumer would consider acceptable from among all the
brands in the product class of which he or she is aware.
B. the group of generic brands that a consumer would reluctantly consider acceptable.
C. the group of brands of which a consumer is aware.
D. all possible competitive product substitutes that may satisfy a consumer’s needs
regardless of the product class.
E. those product alternatives a consumer has considered, including those deemed
unacceptable.
Answer:
Which of the following statements about test marketing is most accurate?
A. Test marketing is especially important for new services.
B. Expensive consumer products must be test marketed in extremely upscale shopping
malls to guarantee accurate results.
C. Test marketing is better suited to relatively inexpensive new consumer goods than
for new services.
D. Test marketing is especially important for new, expensive industrial products.
E. Standard test markets are the least expensive and fastest type.
Answer:
Andrea Arenas is the owner of 2 Places at 1 Time, a concierge company. She and her
staff of 60 perform everyday services, such as walking the dog, picking up cleaning,
waiting for the repairman, and going to the post office, for people who are too busy to
perform these simple acts. One way she tries to avoid ___________ of services for her
regular customers is to make sure that the same well-trained person is always assigned
to work for her clients.
A. inseparability
B. inconsistency
C. incongruity
D. inflexibility
E. intangibility
Answer:
A vendor-managed inventory system refers to an
A. inventory supply system that operates with very low inventories and requires fast
on-time delivery.
B. inventory management system whereby the supplier determines the product amount
and assortment a retailer needs and automatically delivers the appropriate items.
C. inventory management system that is designed to reduce the retailer’s lead time for
receiving merchandise, which then lowers its inventory investment, improves customer
service levels, and reduces logistic expenses.
D. inventory supply system that relies on the “judgment” of individual warehouse
managers based on daily reports from its retailer customers.
E. inventory system that guarantees delivery within 48 hours, granting price reductions
of 1 percent per hour if a shipment is delayed.
Answer:
An effective summary tool for an organization’s situation analysis is referred to as (a)
__________.
A. SWOT analysis
B. strategic management planning
C. environmental scanning
D. market-product grid analysis
E. marginal analysis
Answer:
In the VALS framework, consumers who spend much of their income on fashion,
entertainment, socializing, offerings that make them look good, and have a desire for
the latest things are called
A. Believers.
B. Experiencers.
C. Strivers.
D. Makers.
E. Thinkers.
Answer:
Which of the following statements about how women buy cars today is most accurate?
A. For women, safety is about features that would help survive an accident.
B. Women have definite likes or dislikes when buying a car, but they don’t feel
comfortable expressing their opinions.
C. When it comes to the actual purchase process, women are more adept negotiators
than men.
D. Women care more about exterior styles and lines and men are more concerned with
cargo space and gas mileage.
E. Women usually shop one dealership before making a decision and men usually shop
three.
Answer:
The terms __________ and a mission statement are often used interchangeably.
A. idea
B. objective
C. vision
D. goal
E. protocol
Answer:
An example of a public source of information consulted during an external search
would include
A. People magazine advertising.
B. Consumer Reports magazine.
C. a sales person at the Apple Store.
D. your brother-in-law.
E. a point of purchase display at Target.
Answer:
Jacob has developed a lawn care service that will revolutionize the lawn care industry.
Jacob has limited operating capital and yet he still wants a wide distribution of his new
product. Which of the following options would be the best choice for Jacob?
A. He should develop an administered vertical marketing system.
B. He should establish a corporate vertical marketing system.
C. He should open up branch offices around the country to provide the exposure he
needs.
D. He should establish a wholesaler-sponsored voluntary chain.
E. He should establish a service-sponsored retail franchise system.
Answer:
What utility does UPS provide when it delivers new DVD releases to Best Buy stores
before the Tuesday national release day?
A. time utility
B. place utility
C. possession utility
D. market utility
E. form utility
Answer:
A __________ is a sample of consumers or stores from which researchers take a series
of measurements.
A. representative group
B. jury of executive opinion
C. panel
D. survey of experts
E. focus group
Answer:
The William Morris Agency represents country singer Trace Adkins in negotiations
with various venues in which he could perform. Imagine that the agency decided the
singer would not perform at venues located in small town communities that have less
than 100,000 people. Thus, the agency is using __________ segmentation.
A. entertainment
B. psychographic
C. geographic
D. usage rate
E. behavioral
Answer:
SBUs with dominant shares of slow-growth markets that provide cash to cover the
organization’s overhead and to invest in other SBUs are referred to as __________.
A. cash cows
B. stars
C. question marks
D. dogs
E. hedgehogs
Answer:
Which of the following statements about the VALS framework is FALSE?
A. Consumers are inspired by one of three primary motivations – ideals, achievement,
and self-expression – that give meaning to their self or the world and govern their
activities.
B. Consumers are motivated to buy products and services and seek experiences that
give shape, substance, and satisfaction to their lives.
C. The VALS framework seeks to explain why and how consumers make purchase
decisions.
D. The VALS framework identifies eight consumer segments.
E. A consumer’s gender and age have a direct effect on placement within a VALS
consumer segment.
Answer:
Which of the following is NOT a criterion to use in forming market segments?
A. The ability to assign buyers to a segment is cost-effective and simple.
B. The result of segmenting will cause an increase in market share or profit.
C. There are significant similarities among buyers in the market segment.
D. There is a potential marketing action to reach the segment.
E. The cost to reach the segment exceeds its profitability.
Answer:
A webpage that serves as a publicly accessible personal journal for an individual or
organization is referred to as (a) __________.
A. spam
B. blog
C. buzz
D. forum
E. journalog
Answer:
Emily had an excellent year as a salesperson in 2014, earning $97,000. She paid
$37,000 for necessities such as mortgage, food, and clothing. Her state and federal
income taxes totaled $24,000. What was her disposable income?
A. $36,000
B. $73,000
C. $60,000
D. $97,000
E. There is not enough data provided to calculate her discretionary income.
Answer:
The Boston Consulting Group (BCG) business portfolio analysis requires an
organization to locate the position for each of its strategic business units (SBUs) on a
growth-share matrix. The horizontal axis of this matrix indicates
A. the annual rate of growth of the SBU’s industry.
B. the relative dollar ($) market share of the largest competitor.
C. the annual rate of growth of the firm’s largest competitor.
D. the relative unit (#) market share of the smallest competitor.
E. the annual rate of growth of the firm itself.
Answer:
Seven Cycles creates __________ in its creation of customized bikes for its customers
in 40 countries.
A. time utility
B. form utility
C. place utility
D. possession utility
E. possession and place utility
Answer:
According to Ian Wolfman, “Brands that thrive will be those, like Pizza Hut, that can
efficiently build sustainable relationships with people – relationships that have both high
__________ and high __________.”
A. trust; transactions
B. levels of communication; brand awareness
C. customer loyalty; consumer expectations
D. customer interaction; product awareness
E. customer value; mutual respect
Answer:
Fixed cost refers to
A. the sum of the expenses of the firm that vary directly with the quantity of a product
that is produced and sold.
B. the total expense incurred by a firm in producing and marketing a product, which
equals the sum of overhead cost and variable cost.
C. the sum of the expenses of the firm that are stable and do not change with the
quantity of a product that is produced and sold.
D. the average amount of money received for selling one unit of a product or simply the
price of that unit.
E. the change in expenses that results from producing and marketing one additional unit
of a product.
Answer:
The marketing metrics related to a retailer’s products or merchandise include all of the
following EXCEPT:
A. the cost of carrying inventory.
B. the inventory turnover.
C. the average number of items per transaction.
D. the number of returns.
E. the average length of a store visit.
Answer:
The __________ distinguishes retail outlets based on whether independent retailers,
corporate chains, or contractual systems own the outlet.
A. wheel of retailing
B. service level
C. merchandise line
D. product assortment
E. form of ownership
Answer:
A firm’s profit potential and control over marketing activities __________ as it moves
from exporting to direct investment as a global market-entry strategy.
A. becomes more stable
B. increases
C. levels off
D. decreases
E. becomes more unpredictable
Answer:
The reverence that Japan shows towards its elderly is an example of that nation’s
__________.
A. values
B. beliefs
C. customs
D. religion
E. cultural diversity
Answer:
Controlling agreements between independent buyers and sellers whereby sellers are
required to not sell products below a minimum retail price is called
A. competitive collusion.
B. price cooperation.
C. horizontal price fixing.
D. lateral price fixing.
E. vertical price fixing.
Answer:
Advertising is most important for which of the following products?
A. bicycle
B. toaster
C. orange juice
D. deck furniture
E. watch
Answer: