Anyone who becomes a member of social networking sites is a Collector.
a. True
b. False
Customer advisory boards are small groups of actual customers who serve as sounding
boards for new product ideas and offer insights into their feelings and attitudes toward a
firm’s products, promotion, pricing, and other elements of marketing strategy.
a. True
b. False
Marketing ethics and social responsibility mean the same thing.
a. True
b. False
Which of the following is used to help maintain a more favorable balance of trade by a
country?
a. Limiting imports
b. Limiting exports
c. Establishing exchange controls
d. Increasing gross domestic product
e. Changing political systems
Advertisements for services use tangible cues to help customers understand the
intangible attributes associated with a particular service.
a. True
b. False
The intangible nature of services often leads customers to rely on price as an indicator
of quality.
a. True
b. False
The North American Industry Classification System includes all three NAFTA partners.
a. True
b. False
If a business decides to reduce its prices once in a while on an unsystematic basis, it is
using:
a. price reduction planning.
b. random discounting.
c. bait pricing.
d. periodic discounting.
e. penetration pricing.
Southern Tier Industries has operations in more than 30 foreign countries. The
headquarters in Atlanta controls the entire organization while offering subsidiaries the
freedom necessary to achieve success in local markets. Southern Tier Industries is an
example of a(n)_____ .
a. strategic alliance
b. joint venture
c. export-driven corporation
d. multinational enterprise
e. trading company
___________is the development of a product that is closely related to one or more
products in a firm’s existing product line but is designed specifically to meet somewhat
different customer needs.
a. Brand extension b. Line extension
c. Brand stretching
d. Product bundling
e. Product churning
When the needs of individual consumers in a target market for a specific product are
similar and the organization can satisfy most customers with a single marketing mix,
the best approach to use may be the strategy.
a. undifferentiated
b. differentiated
c. segmented
d. concentrated
e. heterogeneous