Compared to the business-format franchise, the franchisor provides a few general
guidelines to the franchisee in a
A. corporate chain franchise.
B. manufacturing franchise.
C. product-distribution franchise.
D. general service franchise.
E. business franchise venture.
Answer:
The various firms involved in performing the activities required to create and deliver a
product or service to ultimate consumers or industrial users is referred to as
A. strategic distribution.
B. distribution management.
C. a supply chain.
D. value chain optimization.
E. logistics.
Answer:
Parallel development is the simultaneous development of both
A. the product and promotion strategies.
B. production and financing tactics.
C. the product and the production process.
D. production and selling methodologies.
E. R&D and financial analysis.
Answer:
The purchasing manager of Ingram Printing has selected HP as the supplier of its new
high-speed printer and negotiated the terms of the contract. The purchasing manager is
the __________ for Ingram.
A. user
B. gatekeeper
C. influencer
D. buyer
E. decider
Answer:
Which of the following methods is commonly used in software development to speed
up the development process?
A. expedited time to market
B. fast prototyping
C. parallel development
D. controlled test marketing
E. concept testing
Answer:
Retailing refers to all activities involved in the
A. selling, renting, and providing of products and services to ultimate consumers for
personal, family, or household use.
B. selling of tangible products to ultimate consumers for personal, family, or household
use.
C. selling of tangible products to ultimate consumers for personal, household, or
industrial use.
D. selling, renting, leasing, or reselling of products and services to ultimate consumers
or small industrial users.
E. selling, renting, and providing of products and services without retaining the title to
these offerings.
Answer:
One of the advantages associated with television as an advertising medium is that it
A. has a short exposure time.
B. is a low-cost medium.
C. as an unlimited amount of advertising time available.
D. can be used to convey complex messages.
E. can use sight, sound, and motion.
Answer:
An organization’s mission refers to
A. the target goal it sets for current profits based on enacting a comprehensive strategic
plan.
B. the target objective it projects for future market share based on enacting a
comprehensive strategic plan.
C. the fundamental, passionate, and enduring principles that guide its conduct over
time.
D. specific strategies and tactics that will be used to counteract any competitor’s
advantages.
E. a statement of the organization’s functions in society that identifies its customers,
markets, products, and technologies.
Answer:
Advertisements that focus on selling a product or service and which can take three
forms – pioneering (or informational), competitive (or persuasive), and reminder – are
referred to as
A. product advertisements.
B. service advertisements.
C. persuasive advertisements.
D. institutional advertisements.
E. cooperative advertisements.
Answer:
After the new owner purchased a fully equipped yogurt factory, it took a yogurt master
a year and a half to come up with the perfect formulation for Chobani Greek Yogurt.
The most likely stage of the new-product process during which this time was spent is
__________.
A. development
B. market testing
C. idea generation
D. screening and evaluation
E. business analysis
Answer:
The $150 Pebble Smartwatch was one of the first smart watches released to the public
in 2013 after a revolutionary crowdfunding program managed by Kickstarter.com that
raised over $10 million from over 68,000 backers. Smartwatches can collect
physiological data from the wearer and transmit it wirelessly to smartphones, tablets,
and PCs. Samsung recently launched its Galaxy Gear smart watch and Apple is set to
launch such a device in 2015. In what stage of the product life cycle is this product?
A. growth stage
B. decline stage
C. accelerated development stage
D. introduction stage
E. maturity stage
Answer:
The customer who wants or needs the product is referred to as a __________.
A. hot lead
B. cold call
C. lead
D. prospect
E. qualified prospect
Answer:
One disadvantage of using newspapers as an advertising medium is their
A. inability to cover local markets.
B. long lead time for placing an ad.
C. long life span.
D. relatively high cost.
E. need to compete for reader attention with other features in the newspaper.
Answer:
Barter refers to
A. a reciprocity agreement stipulating that if company A purchases services from
company B, then company B must purchase similar services from company A.
B. a tying agreement stipulating that if company A purchases a product from company
B, it must also purchase one of its services.
C. the practice of exchanging products and services for other products and services
rather than for money.
D. the practice of exchanging services for products of equal or greater value.
E. the practice of exchanging products and services for money.
Answer:
As traditional media have become more expensive and cluttered, advertisers have been
attracted to a variety of nontraditional advertising options – in airports, doctors’ offices,
health clubs, or theaters, which are referred to as __________.
A. remote media
B. electronic advertising
C. product placements
D. cooperative advertising
E. place-based media
Answer:
When the General Services Administration (GSA), an agency of the federal
government, purchased 116 Chevy Volts from General Motors for its vehicle fleet, it
was operating as a(n)
A. industrial market.
B. business market.
C. consumer market.
D. government unit.
E. service provider.
Answer:
Market testing refers to
A. exposing actual products to prospective consumers under realistic purchase
conditions to see if they will buy.
B. making sales and profit projections on prototype products to make go-no-go
decisions.
C. conducting marketing research among a sample of consumers in the target market to
determine which version of a new-product concept is deemed the best.
D. independently run comparison tests with similar products currently in the
marketplace to determine which one performs best.
E. conducting safety tests to determine whether the new product meets the established
requirements when it isn’t used as planned.
Answer:
All activities involved in selling, renting, and providing products and services to
ultimate consumers for personal, family, or household use are referred to as
__________.
A. manufacturing
B. retailing
C. wholesaling
D. facilitating
E. logistics
Answer:
An order taker refers to a
A. salesperson who specializes in identifying, analyzing, and solving customer
problems, but who does not actually sell products and services.
B. salesperson who processes routine orders or reorders for products that were already
sold by the company.
C. salesperson who identifies prospective customers, provides them with information,
persuades them to buy, closes sales, and follows up on their use of a product or service.
D. a person on the selling team who is responsible for obtaining qualified leads.
E. member of the sales support team who does not directly solicit orders but rather
concentrates on performing promotional activities and introducing new products.
Answer:
Unlike merchant wholesalers, agents, and brokers, manufacturers’ branches and sales
offices are __________ that perform wholesaling activities.
A. independent distribution managers
B. independent intermediary channels
C. wholly-owned extensions of the producer
D. wholly-owned extensions of the distributor
E. wholly-owned extensions of the retailer
Answer:
All of the following are challenges marketers face when conducting marketing research
EXCEPT:
A. Will consumers’ actual purchase behaviors match their stated interests or intentions?
B. Will consumers reveal honest answers to questions about personal or status issues?
C. Will consumers buy the same brand they say they will?
D. Will consumers accept a small gratuity for participating in a market research study
for a new or existing product?
E. Will consumers really know whether they are likely to buy a new product that they
have never thought about before?
Answer:
FedEx and UPS are converting their delivery trucks with standard diesel engines to
more fuel-efficient and cleaner hybrid-electric vehicles, which can cut fuel costs by half
and lower fuel emissions by 90 percent. These vehicles are marked as low-emission
hydraulic hybrids right on the side of the trucks. This is an example of
A. demarketing.
B. triple-top line marketing.
C. preemptive compliance.
D. green marketing.
E. cause marketing.
Answer:
The use of special fees and surcharges is driven by consumers’ zeal for __________
combined with the ease of making price comparisons on the Internet.
A. high prices
B. low prices
C. quality
D. value
E. warranties
Answer:
To be identified as a market segment, members of the group must
A. be similar in terms of their consumption behavior.
B. represent a large share of the entire market and have buying power.
C. have diverse needs and have potential for future growth.
D. have diverse needs and be willing and able to purchase the product.
E. have the potential for future growth and increased profit or ROI.
Answer:
In the Maslow hierarchy of needs, __________ needs involve self-preservation as well
as physical and financial well-being.
A. physiological
B. social
C. personal
D. safety
E. self-actualization
Answer:
The communication capabilities of Internet-enabled technologies take three forms: (1)
__________; (2) consumer-to-marketer buying and service requests; and (3)
consumer-to-consumer chat rooms, instant messaging, and social networking websites.
A. marketer-to-consumer e-mail notification
B. government-to-marketer Do Not Spam monitoring
C. phishing and spamming whistleblowing
D. online colonies
E. web-to-web customer exchanges
Answer:
Penetration pricing refers to
A. charging different prices to different buyers for goods of like grade and quality.
B. setting the highest initial price that customers really desiring the product are willing
to pay.
C. setting a low initial price on a new product to appeal immediately to the mass
market.
D. setting a market price for a product or product class based on a subjective feel for the
competitors’ prices or market price.
E. setting prices a few dollars or cents under an even number.
Answer:
Three major presentation formats exist: (1) stimulus-response format; (2) formula
selling format; and (3) __________.
A. cold calling format
B. stimulus-satisfaction format
C. stimulus-selling format
D. need-satisfaction format
E. persuasive sales format
Answer:
All of the following are idea generation methods EXCEPT:
A. a mail survey.
B. trend hunting.
C. a focus group.
D. a depth interview.
E. an individual interview.
Answer:
The process of managing the entire customer experience with the company is referred
to as
A. services marketing.
B. internal marketing.
C. customer experience management.
D. relationship marketing.
E. gap analysis.
Answer:
Important product or service characteristics in organizational buying include which of
the following?
A. A heavy emphasis is placed on loyalty programs and rebates.
B. Direct selling to organizational buyers is rare.
C. A fixed, nonnegotiable price is the norm.
D. Many of the goods purchased are raw and semifinished.
E. Personal relationships are preferred to online buying over the Internet.
Answer:
Promotional expenses at the maturity stage of the product life cycle are often designed
to __________.
A. convince those who have abandoned the brand to try it again
B. maintain market share
C. create a sense of nostalgia
D. attract more price conscious consumers
E. thwart the growing number of competitors that have entered the market
Answer:
All of the following are examples of pricing objectives EXCEPT:
A. market share.
B. survival.
C. unit sales.
D. social responsibility.
E. competitors’ prices.
Answer: