The approaches that can be used to collect data to solve all or part of a marketing
research problem are referred to as
A. methods.
B. proposals.
C. strategies.
D. tactics.
E. analyses.
Answer:
Drawing conclusions about a population from a sample taken from that population is
referred to as
A. nonprobability sampling
B. statistical inference
C. probability sampling
D. extrapolation
E. criteria sampling
Answer:
In business, the four basic forms of competition are
A. pure competition, limited competition, oligopoly, and monopoly.
B. dictatorship, monarchy, oligarchy, and democracy.
C. pure competition, cross-market competition, oligopoly, and pure monopoly.
D. technological competition, market competition, governmental competition, and
environmental competition.
E. pure competition, monopolistic competition, oligopoly, and pure monopoly.
Answer:
Items such as large household appliances that require installation, delivery, and credit
should be sold by retailers that demonstrate the buyer requirement of __________.
A. information
B. convenience
C. variety
D. pre- or postsale services
E. adaptability
Answer:
Factors such as specifying product features, marketing strategy, and financial
projections are a part of which stage of the new-product process?
A. idea generation
B. market testing
C. development
D. commercialization
E. business analysis
Answer:
The design of the promotion will play a primary role in determining the message that is
communicated to the audience. Successful designs are often the result of
A. accurately estimating costs of tasks.
B. identifying appropriate objectives.
C. accurately estimating what task will accomplish each objective.
D. obtaining insights regarding consumers’ interests and behavior.
E. obtaining insights regarding task performance.
Answer:
Which of the following firms has made the wisest wholesaler choice for its product?
A. Hannah’s Hardware uses a rack jobber for its hammers.
B. Fiona’s Floral uses a truck jobber for its cut roses.
C. Sam’s Coal Country uses a truck jobber for its subway cars.
D. Shayna’s Superior Supplies uses a desk jobber for its staplers.
E. Josh’s Jackhammers uses a rack jobber for its hard hats.
Answer:
A publicly accessible personal journal and online forum for an individual or
organization is a __________, whereas a website whose online content is created and
edited by the ongoing collaboration of end users is a __________.
A. Internet browser; blog
B. wiki; blog
C. blog; wiki
D. Facebook; Twitter
E. Twitter Page; Facebook Page
Answer:
Four key challenges that package and label designers face include: (1) connecting with
customers; (2) environmental concerns; (3) __________; and (4) cost reduction.
A. health, safety, and security issues
B. competition from global markets
C. patent and trademark issues
D. governmental regulations
E. cultural and societal issues
Answer:
Four key challenges that package and label designers face include: (1) __________; (2)
environmental concerns; (3) health, safety, and security issues; and (4) cost reduction.
A. governmental regulations
B. cultural and societal issues
C. competition from global markets
D. connecting with customers
E. patent and trademark issues
Answer:
A filtering of exposure, comprehension, and retention is called __________.
A. selective attention
B. selective perception
C. selective intuition
D. selective retention
E. stimulus discrimination
Answer:
All of the following tactics are used to generate leads EXCEPT:
A. cold canvassing
B. suggestive selling
C. toll-free numbers
D. coupons
E. trade shows
Answer:
New-product strategy development calls for INGenius Co. to develop a battery recycler
for the business market. Which is the most likely stage of the new-product process in
which manufacturing issues regarding the new product become an especially important
element?
A. market testing
B. idea generation
C. screening and evaluation
D. development
E. business analysis
Answer:
The two central concerns of marketing are __________.
A. increasing market share and making profits
B. holding down costs while increasing profits
C. developing products and finding suppliers
D. discovering and satisfying consumer needs
E. practicing ethics and sustainability
Answer:
Figure 12-3
The most indirect marketing channel is employed where many small manufacturers and
many small retailers and other intermediaries are used to help coordinate a large supply
of the product. This channel is represented in Channel D in Figure 12-3 above. Which
of the following products would most likely be marketed using this kind of channel?
A. Aspen dental services
B. Toyota automobiles
C. Leslie pool supplies
D. Jaipur rugs made in India
E. Hershey’s candy bars
Answer:
Watch was a teen publication given out free to high school students, but the publication
was unable to deliver the response rates to coupons or sample offers that its advertisers
expected. After defining the marketing problem, its publisher developed a research
plan, gathered information from teen focus groups, analyzed the findings, and replaced
Watch magazine with Fuel for boys and Verve for girls. How would a marketer judge
the publisher’s actions?
A. Why fix something that is not broken? The magazine was still attracting some
advertisers.
B. It made a big deal out of a small decline – a few copy changes would have been
enough.
C. The approach it took was too complicated and costly to provide an effective solution
to the problem.
D. It took a systematic approach to analyzing the problem and responded to its
advertisers’ concerns.
E. This publisher used an approach that works for corporations but will just waste time
for a small publisher.
Answer:
Which stage of the product life cycle is usually a period of phase-out for the product,
when little money is spent in the promotional mix?
A. introduction
B. growth
C. maturity
D. decline
E. termination
Answer:
A web page that serves as a publicly accessible personal journal and online forum for an
individual or organization is referred to as a
A. wiki.
B. blog.
C. chat room.
D. Facebook Page.
E. tweet.
Answer:
A full-scale operating model of the product under development is referred to as a
A. sample.
B. framework.
C. template.
D. prototype.
E. blueprint.
Answer:
Gatorade is most likely in which stage of its product life cycle?
A. introduction
B. growth
C. maturity
D. decline
E. fad
Answer:
Yield management pricing is a form of
A. target pricing.
B. loss-leader pricing.
C. flexible pricing.
D. customary pricing.
E. price lining.
Answer:
When Paulette first saw the dress in the store window, she knew two things. She had to
own the dress, and she could not afford it at its current price. Disappointed, she left.
Two weeks later, she passed by the store again and saw that the price of the dress had
been reduced to one that she could afford. Specifically, the store had reduced the price
by 30 percent to encourage buyers. Paulette was able to purchase the dress because of
a(n)
A. negative markup.
B. markup elimination.
C. markdown.
D. liquidity reduction.
E. increase in net margin.
Answer:
The most basic of the three sales management functions is
A. sales plan analysis.
B. sales plan formulation.
C. setting sales plan objectives.
D. sales plan evaluation.
E. sales plan implementation.
Answer:
Target return-on-sales pricing refers to
A. adjusting the price of a product so it is within 10% of its largest competitor.
B. setting the price of a line of products at a number of different price points.
C. adding a fixed percentage to the cost of all items in a specific product class.
D. setting prices to achieve a profit that is a specified percentage of the sales volume.
E. setting a price based on a specific annual dollar target profit volume.
Answer:
A technique that helps a firm search for growth opportunities from among current and
new markets as well as current and new products is referred to as __________.
A. diversification analysis
B. business portfolio analysis
C. a market-product grid framework
D. synergy analysis
E. market segmentation
Answer:
Two general applications of websites exist based on their intended purpose: (1)
__________ websites and (2) promotional websites.
A. transactional
B. financial
C. service-oriented
D. informational
E. cross-functional
Answer:
Installations, accessory equipment, supplies, and industrial services used to assist in
producing other products and services are referred to as __________.
A. components
B. parts
C. production goods
D. raw materials
E. support products
Answer:
Each year, advertisers spend millions of dollars during the Super Bowl half-time show.
These marketers hope to reach the millions of sports enthusiasts tuned into the NFL’s
greatest spectacle. Unfortunately, during the half-time festivities, many viewers dash to
the kitchen for a sandwich and a soda and do not see or hear the persuasive promotional
messages of the advertisers. The desire for food and drink is an example of
__________, which inhibits effective communication.
A. distraction
B. diversion
C. ineffective encoding
D. information overload
E. noise
Answer:
Which of the following statements regarding when and where online consumers shop
and buy is most accurate?
A. Twenty percent of online sales occur Monday through Friday.
B. The busiest online shopping day is Wednesday.
C. Favorite websites for workday shopping and buying include those featuring health
and beauty items, and apparel and accessories.
D. Some 10 percent of consumers say they visit websites from work.
E. Most people buy online when they are depressed.
Answer:
Discounting generally takes place during which stage of the retail life cycle?
A. early growth
B. accelerated development
C. decline
D. maturity
E. early growth and maturity
Answer:
Figure 11-6
Suppose you are the owner of a picture frame store and you wish to calculate how many
pictures you must sell to cover your fixed and variable costs at a given price. Demand
for pictures is strong, so the average price customers are willing to pay for each picture
frame is $120. Also, suppose your fixed costs (FC) total $32,000 (real estate taxes,
interest on a bank loan, etc.) and unit variable cost (UVC) for a picture frame is $40
(labor, glass, frame, and matting). What is the quantity of picture frames you will need
to sell to break-even?
A. 200 picture frames
B. 400 picture frames
C. 800 picture frames
D. 1,600 picture frames
E. 2,000 picture frames
Answer:
The societal marketing concept
A. is the moral principles and values that govern the actions and decisions of an
organization.
B. is the idea that organizations are part of a larger society and are accountable to that
society for their actions.
C. actively tries to understand customer needs and satisfy them while satisfying the
firm’s goals.
D. involves conducting business in a way that protects the natural environment while
making economic progress.
E. is the view that an organization should satisfy the needs of consumers in a way that
provides for society’s well-being.
Answer:
Skimming pricing is a strategy that introduces a new or innovative product by
A. following a price elastic strategy.
B. creating multiple price points.
C. setting a high initial price.
D. setting a low initial price.
E. setting the price at the average of competitors’ prices.
Answer:
Selling a product to a different market segment usually requires a different marketing
action that in turn means greater costs. If increased revenues don’t offset extra costs of
this action, a marketer should __________.
A. increase the advertising budget
B. prune the product offerings
C. family brand their products
D. combine segments
E. group products into categories
Answer: