The __________ element of the marketing mix is demonstrated when a company places
an ad on a highway billboard.
A. product
B. price
C. promotion
D. place
E. process
Answer:
Perhaps the greatest impact on salesforce communication is the application of
__________ technology.
A. Internet
B. facsimile
C. voice-mail
D. smartphone
E. web camera
Answer:
Which of the following is a concept from behavioral learning theory that marketers use?
A. selective comprehension.
B. selective retention.
C. stimulus generalization.
D. cognitive dissonance.
E. routine problem solving.
Answer:
Pennington’s Superstore, which specializes in plus-size fashions for women, wanted to
determine if it should add a line of plus-size junior wear. The following statement
reflects which step in the five-step marketing research approach?: “To compare the
effectiveness of offering products for the teenage market in our current stores versus
opening separate stores targeted directly to this market, let’s distribute questionnaires to
current shoppers and solicit their opinions, set up some focus groups with plus-size
teens, and locate any relevant secondary research.”
A. define the problem
B. develop the research plan
C. collect relevant information
D. develop findings and recommendations
E. take marketing actions
Answer:
Which of the following statements about the product life cycle as a pricing constraint is
most accurate?
A. The newer a product is, the higher the price that can usually be charged.
B. The later in the product life cycle a product is, the higher the price that can usually
be charged.
C. Once a product is considered nostalgic, the price will continue to rise indefinitely.
D. Fads will generally have only two price points – high and low – but the values of
those price points usually be within 10 percent of each other.
E. Prices should not be changed until a product reaches its maturity stage.
Answer:
The initial step in the strategic marketing process is to begin planning by conducting a
A. business portfolio analysis.
B. market-product analysis and setting goals.
C. marketing program.
D. situation (SWOT) analysis.
E. diversification analysis.
Answer:
Which of the following statements about the World Trade Organization (WTO) is most
accurate?
A. The World Trade Organization was formed in 2008 to response to the global
recession.
B. By mid-2013, there were 159 WTO member countries, including the United States,
which account for more than 90 percent of world trade.
C. The WTO sets rules governing trade between member and nonmember countries of
the world.
D. The WTO uses panels of trade experts who can issue non-binding recommendations.
E. The WTO was formed by the United Nations.
Answer:
The ability of a website to modify itself to, or be modified by, each individual user is
referred to as __________.
A. connection
B. communication
C. site actualization
D. customization
E. customerization
Answer:
Many promotional efforts, and especially personal selling efforts, are focused towards
__________, who help coordinate promotional campaigns sponsored by the
manufacturer and provide marketing advice and expertise.
A. sales personnel
B. ultimate consumers
C. intermediaries
D. repeat buyers
E. nonprospects
Answer:
Ideally, before a new product or service is developed, a firm should have a precise
__________, which is a statement defining the target market, specifying customers’
needs, and defining what the product or service will be and do to satisfy consumers.
A. formula
B. contract
C. modus operandi
D. protocol
E. methodology
Answer:
Which of the following statements regarding supply chains is most accurate?
A. The most common form of supply chain is the collaborative-response efficiency
strategy.
B. For an effective supply chain, key decisions should be made by a third-party logistics
provider.
C. The longer the supply chain, the greater the economies of scale and the better the
profit margin.
D. Supply chains should consider the needs of suppliers, provided those needs are
consistent with marketing strategies.
E. Supply chain managers often need to make trade-offs between efficiency and
responsiveness.
Answer:
__________ have an increasingly important role in top management because of their
ability to think strategically, bringing with them to the job multi-industry backgrounds,
cross-functional management expertise, analytical skills, and intuitive marketing
insights.
A. Chief marketing officers (CMOs)
B. Chief financial officers (CFOs)
C. Chief executive officers (CEOs)
D. Chief human resource officers (CHROs)
E. Chief operating officers (COOs)
Answer:
Public relations refers to
A. a seller-directed flow of communication, often in a face-to-face encounter, designed
to promote a product with the purpose of making a sale.
B. an individualized communications program specifically designed for a single
customer because the item being sold is unique to that person.
C. a mass selling approach that has been be tailored to meet the more select needs of a
target market based on age, gender, ethnicity, or occupation.
D. a form of communication that is intended to counteract any negative information or
misinformation that has been fomented by competitors or disgruntled customers.
E. a form of communication management that seeks to influence the feelings, opinions,
or beliefs held by customers, prospective customers, stockholders, suppliers,
employees, and other publics about a company and its products or services.
Answer:
Promotional programs are directed at all of the following EXCEPT:
A. the industrial distributor.
B. the wholesaler.
C. the competition.
D. the retailer.
E. the ultimate consumer.
Answer:
The four most popular types of franchise arrangements are
A. service-sponsored franchise systems, service-sponsored retail franchise systems,
manufacturer-sponsored wholesale franchise systems, and manufacturer-sponsored
retail franchise systems.
B. service-sponsored retail franchise systems, corporate vertical marketing systems,
wholesaler-sponsored voluntary chains, and service-sponsored franchise systems.
C. manufacturer-sponsored wholesale franchise systems, service-sponsored retail
franchise systems, corporate vertical marketing systems, and wholesaler-sponsored
voluntary chains.
D. manufacturer-sponsored retail franchise systems, service-sponsored retail franchise
systems, corporate vertical marketing systems, and wholesaler-sponsored voluntary
chains.
E. administered vertical marketing systems, service-sponsored retail franchise systems,
corporate vertical marketing systems, and wholesaler-sponsored voluntary chains.
Answer:
A business model
A. is a road map for the marketing activities of an organization for a specified future
time period.
B. consists of the strategies an organization develops to provide value to the customers
it serves.
C. is a measure of the quantitative value or trend of a marketing activity or result.
D. consists of the detailed day-to-day operational decisions for an organization.
E. is the means by which organizational goals are to be measured and documented.
Answer:
Consumers benefit in dealing with retail corporate chains because
A. corporate chains have more experience than other forms of retailers.
B. they can own stock in the same company where they shop since corporate chain
stock must be publicly-traded.
C. they can establish a credit history more easily than with other forms of retailers.
D. there are multiple outlets with similar merchandise and consistent management
policies.
E. they have less stress in making decisions since merchandise is arranged and
displayed by professional designers.
Answer:
New Balance offers shoes for men, women, and children in many sizes and foot widths.
It offers running, cross training, walking, golf, and other types of shoes. This is an
example of the __________ that New Balance offers to its customers through its own
stores or other retailers such as Foot Locker or Sports Authority.
A. product item mix
B. depth of product line
C. versatility of product family
D. breadth of product line
E. variety of product mix
Answer:
The alternative evaluation stage clarifies the problem for the consumer by suggesting
criteria to use for the purchase, yielding brand names that might meet the criteria, and
__________.
A. developing consumer value perceptions
B. evaluating particular products
C. selecting the type of retail outlet
D. establishing a purchase timeline
E. creating a hierarchy of needs
Answer:
Before opening six Torrid plus-size-only retail stores that cater to women aged 15-30, a
great deal of information was gathered from a sample of women to determine what
types of items should be carried, the image of the store, its advertising, etc. Which of
the following is an example of an open-ended question that might have been asked in
the survey?
A. “Do you wear a dress larger than size 12?”
B. “How old are you?”
C. “Would you shop at a store that only sold plus-size clothing?”
D. “Why do you wear that particular fashion style?”
E. “Do you think the stores should use bright- or subtle-colored fixtures?”
Answer:
The primary responsibility of order takers is to
A. preach the benefits of a new product or service to a customer rather than close the
sale.
B. build market share in a sales territory.
C. convince a customer from a competitor to switch to the firm’s product or brand.
D. preserve ongoing relationships with existing customers and maintain sales.
E. create a sense of goodwill not only to the brand but also to the entire product mix of
the firm.
Answer:
Which of the following statements regarding QVC is most accurate?
A. QVC broadcasts five hours a day every weekday evening during prime time.
B. QVC reaches more than 300 million households in the U.S., U.K., Germany, Italy,
China, and Japan.
C. QVC never offers the same product two days in a row.
D. QVC sells all its items by dropping the price to less than $10.00 regardless of the
product value, if it is not sold in one day.
E. QVC entices customers to stay tuned by offering free products to random callers.
Answer:
In the 1980s, a lapse in production quality and an increase in Japanese imports drove
the Harley-Davidson motorcycle company to the brink of bankruptcy. The company’s
share of the U.S. super heavy-weight market segment – motorcycles with engine
capacity of 850 cubic centimeters or more – shrunk from over 40 percent in the mid
1970s to 23 percent in 1983. But by 1989, Harley-Davidson controlled some 65 percent
of this market segment. From a marketing perspective, what was the most likely first
step in Harley-Davidson’s resurgence?
A. developing a new mission statement
B. repositioning its products in the minds of super heavy-weight motorcycle buyers
C. performing a SWOT analysis to assess the firm’s internal and external environments.
D. selling new models of super heavy-weight motorcycles in both the U.S. (current) and
foreign (new) markets
E. improving the quality of its products and communicating this to motorcycle buyers
Answer:
According to the Federal Trade Commission, __________ percent of fraud complaints
are Internet related, costing consumers $560 million.
A. 35
B. 46
C. 55
D. 64
E. 75
Answer:
Specifying constraints, identifying data needed for marketing actions, and determining
how to collect data, would all take place during which step of the five-step marketing
research approach?
A. define the problem
B. develop the research plan
C. collect relevant information
D. develop findings
E. take marketing actions
Answer:
A business traveler joined the Starwood Preferred Guest Program in order to earn points
each time he stayed overnight in a Westin or Sheraton hotel. Once he has accumulated
enough points, he can trade his points in for a free night’s stay. As a member of this
program, the traveler receives periodic updates on new hotels and learns of ways to earn
additional points. The marketing term that best describes this scenario is
A. relationship marketing.
B. customer satisfaction promotion.
C. customer relationship management.
D. customer valuation.
E. supplier-consumer partnership.
Answer:
The buying situation where an organization is a first-time buyer of the product or
service is referred to as a
A. initial buy.
B. new buy.
C. preliminary buy.
D. straight rebuy.
E. modified rebuy.
Answer:
A product line is a group of product or service items that are closely related because
they satisfy a class of needs, are used together, __________, are distributed through the
same type of outlets, or fall within a given price range.
A. are made of similar components
B. require high levels of R&D
C. are sold to the same customer group
D. made from the same formulations
E. have one SKU number
Answer:
Pioneering advertisements would most likely be used during which stage of the product
life cycle?
A. introduction
B. decline
C. maturity
D. harvesting
E. growth
Answer:
One advantage of using the yellow pages as an advertising medium is
A. their short life span.
B. they are used more than 150 billion times annually.
C. the print pages are quicker and easier to use than the Internet.
D. they are more mobile than other information sources.
E. they are available 24 hours and 365 days a year.
Answer:
Intermediaries to not take title to a product but are responsible for designing its
promotional plans, setting prices, determining distribution policies, and making
recommendations on product strategy are referred to as __________.
A. brokers
B. line brokers
C. distribution brokers
D. selling agents
E. manufacturer’s agents
Answer:
SBUs with a low share of high-growth markets that may require large cash injections of
cash just to maintain market share are referred to as __________.
A. dogs
B. cash cows
C. question marks
D. stars
E. hedgehogs
Answer: