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The main section of the marketing plan most likely presents a detailed ________
analysis of the current marketing situation.
A) breakeven
B) SBU
C) SWOT
D) regression
E) cluster
Answer:
Which of the following is an environmental factor that affects channel objectives and
design?
A) economic conditions
B) factory staffing
C) organizational objectives
D) interpersonal influences
E) individual motives
Answer:
Which budgeting method entails defining specific promotion goals, determining the
necessary tasks, and estimating the costs to determine a promotion budget?
A) percentage-of-sales method
B) objective-and-task method
C) affordable method
D) exponential task method
E) competitive-parity method
Answer:
A church targeting different demographic groups to increase attendance is an example
of ________.
A) affinity marketing
B) not-for-profit marketing
C) societal marketing
D) evangelism marketing
E) affiliate marketing
Answer:
Which of the following is true of optional-product pricing?
A) It involves capitalizing on low value by-products.
B) It involves pricing products that can be added to the base product.
C) It is used to price a company's main product.
D) It involves setting geographically-specific prices.
E) It is used to price products that must be used with the company's main product.
Answer:
Ocean Spray sells its air fresheners only through Ray's Drugs. This is an example of
________ distribution.
A) exclusive
B) selective
C) intensive
D) indirect
E) corporate
Answer:
Ford and its network of independent franchised dealers is an example of a ________.
A) manufacturer-sponsored retailer franchise system
B) manufacturer-sponsored wholesaler franchise system
C) service-firm-sponsored retailer franchise system
D) service-firm-sponsored equity strategic alliance
E) manufacturer-and-service-sponsored joint venture
Answer:
Refer to the scenario below to answer the following question(s).
The Attic Trunk opened in 1999 as an upscale dress shop in Forest Ridge's fashionable
shopping district, catering to a wealthy, mature clientele consisting mostly of older,
first-generation Hispanics. Many other specialty shops lined the main avenue over the
next few years. But as Forest Ridge began to attract a more price-conscious, younger,
and more demographically diverse population, the once-popular shopping district was
increasingly perceived as stodgy and snobby by the new segment of customers.
By the mid-2000s, many of these specialty shops suffered financially. Most shops
attracted only tourists who enjoyed browsing through the displays of alligator belts and
shoes, piles of scented soaps, and so on, often laughing at the ridiculously high prices.
Owners of The Attic Trunk had noticed the shifts in buying behavior of customers by
the mid-2000s. In fact, the owners had observed that the once-fashionable shopping
district in Forest Ridge no longer attracted the wealthy, mature clientele. This clientele
had been replaced with price-conscious families with children, a mix of Asian and
African Americans as well as Caucasians.
Specialty items at The Attic Trunk gradually disappeared, replaced by brand-name
apparel, fashion accessories, and jewelry. Other owners followed suit in the late 2000s,
bringing restaurants, an outdoor cafe, and a day spa to the main avenue in Forest Ridge.
Many families with children are now attracted to the shopping district in Forest Ridge.
What characteristics about families as consumer groups might the owners of The Attic
Trunk want to keep in mind?
A) Though more women hold jobs outside the home today than when The Attic Trunk
first opened, husband-wife involvement in the buying process has remained relatively
unchanged.
B) Children have considerable amounts of disposable income and have a strong
influence on family buying decisions.
C) Women seldom account for any technology-related purchases.
D) Women typically account for most habitual purchases.
E) Men make all the major purchasing decisions in most families.
Answer:
The business marketer normally deals with ________ than the consumer marketer does.
A) far fewer but far larger buyers
B) far more but far smaller buyers
C) negligible customer complaints
D) far less fluctuations in demands
E) far more elastic demand
Answer:
The winning value proposition would be to offer ________.
A) more for the same
B) more for less
C) more for more
D) same for less
E) same for more
Answer:
Which of the following shows the number of units the market will buy in a given time
period, at different prices that might be charged?
A) demand curve
B) supply curve
C) learning curve
D) break-even pricing
E) target costing
Answer:
At Gina's retail stores, the posted policy reads, "Without our customers, we don't exist."
Gina and her staff aim to delight each customer, and they are quick to offer discounts or
extra services whenever a customer is anything less than satisfied. Gina and her staff
strive to make every customer a repeat customer. It is most accurate to say that instead
of focusing on each individual transaction, Gina and her staff put a priority on
________.
A) managing partner relationships
B) selling new products
C) attracting "butterflies"
D) converting "barnacles" to 'strangers"
E) capturing customer lifetime value
Answer:
An ideal price policy scenario for retailers would be to achieve ________ while
charging ________.
A) low volume; high markups
B) low volume; low markups
C) high volume; high markups
D) high volume; low markups
E) high volume; zero markups
Answer:
Which of the following is true with regard to value-added pricing?
A) Companies that practice value-added pricing typically match the competition by
cutting prices.
B) Companies practicing value-added pricing differentiate their offers by attaching
value-added features to offerings that, in turn, justify higher prices.
C) The intrinsic value of products sold by companies practicing value-added pricing is
far less than their actual selling price.
D) Companies practicing value-added pricing primarily rely on cost differentiation.
E) Value-added pricing is the most suitable pricing strategy in pure monopolies.
Answer:
The physical environment affecting marketing activities is referred to as the ________
environment.
A) economic
B) natural
C) cultural
D) political
E) social
Answer:
Randy keeps getting unwanted and annoying e-mails from several marketing firms
unknown to him. The number of these e-mails is alarmingly high in his inbox. Which of
the following best describes these e-mails?
A) malware
B) adware
C) Trojan
D) firewall
E) spam
Answer:
Low-interest financing and longer warranties are both examples of ________ pricing.
A) segmented
B) promotional
C) product bundling
D) captive product
E) product form
Answer:
Price discrimination is legal when a ________.
A) manufacturer and reseller have agreed upon a specified retail price for a product
B) manufacturer sells to retailers in different markets
C) seller can prove its costs are different when selling to different retailers
D) seller advertises prices that are not actually available to consumers
E) seller has not communicated with competitors before announcing prices
Answer:
An IKEA ad shows consumers creating fanciful room designs with IKEA furniture,
such as "a bedroom for a queen made by Bree and her sister, designed by IKEA."
Which of the following message execution styles is illustrated in this example?
A) mood or image
B) musical
C) fantasy
D) lifestyle
E) personality symbol
Answer:
Today, ________ are flourishing due to the increased use of market segmentation and
market targeting.
A) chain stores
B) specialty stores
C) superstores
D) discount stores
E) off-price stores
Answer:
Which of the following is a competitive position or role that firms play in the target
market?
A) surrogate consumer
B) market analyst
C) market maven
D) market nicher
E) laggard
Answer:
Which of the following refers to a cultural factor in the context of segmenting
international markets?
A) receptivity of foreign firms
B) economic development of the country
C) population income levels
D) stability of the government
E) values and attitudes
Answer:
A company or association's ________ is designed to help guide responses to complex
social responsibility issues.
A) code of ethics
B) marketing plan
C) non-disclosure policy
D) privacy policy
E) non-compete clause
Answer:
Which of the following is an example of an industrial economy?
A) Japan
B) China
C) Vietnam
D) India
E) North Korea
Answer:
Target return pricing is a variation of which of the following cost-oriented pricing
approaches?
A) cost-plus pricing
B) break-even pricing
C) markup pricing
D) value-based pricing
E) fixed cost pricing
Answer:
Heart of Midnight sells blue orchids to major florists around the world. Their key
requirement is speed. Which of the following modes of transport will help them?
A) rail transport
B) air carriers
C) trucks
D) piggybacks
E) water transport
Answer:
Cathy's Clothes is a small yet successful retail chain that sells women's clothing and
accessories with a focus on buyers who have relatively modest means. For this specific
purpose, the firm has rolled out several marketing initiatives aimed at women of a
specific demographic. This is an example of ________.
A) ambush marketing
B) social marketing
C) societal marketing
D) target marketing
E) cause marketing
Answer:
The BeautyShop, a manufacturer of skin care products, uses only plant-based materials
for its cosmetic products. It supports several environmental protection movements and
movements defending human rights. This accounts for the company's efforts to build
good will and corporate social responsibility. This exemplifies the ________ concept.
A) consumer business
B) strategic planning
C) consumerism
D) direct marketing
E) sustainable marketing
Answer:
According to the five-step model of the marketing process, a company should
________ before designing a customer-driven marketing strategy.
A) determine how to deliver superior value to customers
B) build profitable relationships with customers
C) use customer relationship management to create full partnerships with key customers
D) understand the marketplace and customer needs and wants
E) construct an integrated marketing program
Answer:
Which of the following involves setting prices based on a rival firm's strategies, costs,
prices, and market offerings?
A) target return pricing
B) good-value pricing
C) competitor value-added pricing
D) market-based pricing
E) competition-based pricing
Answer:
Segmented pricing is only effective when ________.
A) the segments show similar degrees of demand
B) the cost of segmenting does not exceed the revenue obtained from the price
difference
C) the segmented prices do not reflect real differences in customers' perceived value
D) the customers of different socio-economic classes are treated according to their rank
E) companies make their services and products accessible exclusively to wealthy
patrons
Answer:
