Archives: Quiz

Customer service reps are more useful for “keeping” customers, rather than “winning” new customers. Answer: A salesperson who aggressively seeks out possible buyers with a well-organized sales presentation designed to sell a product is a missionary sales rep. Answer: FALSE […]

The development of department stores and supermarkets is explained by the “wheel of retailing” theory. Answer: Computing a percentage of either past sales or sales expected in the future is the most common method of budgeting for promotion expenditures. Answer: […]

In general, product life cycles appear to be getting longer in recent years. Answer: The Internet is a system for linking computers around the world. Answer: TRUE The Internet is a system for linking computers around the world. The marketing […]

Marketing ethics are the moral standards that guide marketing decisions and actions. Answer: Examples of personal needs include self-esteem, accomplishment, fun, freedom, and relaxation. Answer: TRUE Personal needs are concerned with an individual’s need for personal satisfaction, unrelated to what […]

A firm that adopts the “marketing concept” will aim all its efforts at satisfying customers, while trying to make a profit. Answer: Sales promotion problems are likely to be greater when an advertising or sales manager, instead of a sales […]

Which of the following publicity tools would a software company most likely use in order to target commercial press? A. Customer reviews B. Case studies C. Blogs D. Podcasts E. Online media room Answer: All publicity relies on mass media […]

The average price Washburn Guitars charges for a guitar is $349.99. This pricing level is most reflective of a(n) __________ approach. a. skimming price b. penetration price c. prestige price d. odd-even pricing e. target price Answer: The process of […]

Who wouldn”t want to eat Garlic Cake? Garlic Cake was supposed to be served as an hors d”oeuvre with sweet breads, spreads, and meats, but somehow the company forgot to tell and explain this to potential consumers. This product failure […]

Sales promotions cannot be the sole basis for a promotional campaign because a. all sales promotions have legal time limit restrictions to prevent unfair trade practices. b. gains from the sales promotion are often temporary and sales drop off when […]

The sum of the expenses of the firm that vary directly with the quantity of the product that is produced and sold is referred to as a. fixed cost. b. total cost. c. marginal cost. d. unit cost. e. variable […]

The relationship of annual marketing effort to annual sales revenue is assumed to be __________ of the sales response function. a. a horizontal straight line, where sales revenues stay the same regardless of the marketing effort b. a U-shaped curve, […]

Tricon was the restaurant division of PepsiCo until it was spun off in 1997. Since then Tricon has opened 6,000 KFC restaurants abroad. It has 158 restaurants in Indonesia and more than 500 restaurants in China. All are locally owned […]

The second step of the marketing research approach is to __________. a. develop findings b. define the problem c. take marketing actions d. develop the research plan e. collect relevant information Answer: Warranties, money-back guarantees, extensive usage instructions, demonstrations, and […]

In the U.S. alone, roughly 500 million computers will become obsolete by 2017. These computers contain more than 2 billion pounds of what will become lead waste that is harmful to the environment. As a result, computer manufacturers are being […]

The three major tasks involved in the implementation stage of the sales management process are: salesforce recruitment and selection; salesforce training; and __________. a. setting sales objectives b. developing account management policies c. salesforce motivation and compensation d. salesforce evaluation […]

The element of the marketing mix that describes a means of communication between the seller and buyer is known as a. a product. b. promotion. c. the price. d. the place or distribution. e. advertising. Answer: Vinyl records, cassette tapes, […]

Which of the following statements about world trade flows is most accurate? a. The EU (European Union) is the world leader in terms of GDP (gross domestic product). b. The relative position of the United States as a supplier to […]

Firms selling consumer goods or services often try to reach thousands or millions of individuals or households. Firms selling to organizations a. try to reach tens of millions of wholesalers, retailers, and government units. b. are restricted to far fewer […]

Mixed branding refers to a branding strategy in which a firm __________. a. gives each product a distinct name when each brand is intended for a different market segment b. uses different brand names for the same product across multiple […]

The description of how new retail outlets enter the market is referred to as the __________. a. retail life cycle b. product life cycle c. wheel of retailing d. retail life matrix e. retail continuum Answer: Marketers produce a customer […]

Errors in communication can occur in several ways: (1) the source may not adequately transform the abstract idea into an effective set of symbols, (2) __________, (3) the receiver may not properly transform the set of symbols into the correct […]

User generated content (UGC) refers to a. content found on a “personal profile” page. b. content found only on blogs and wikis. c. content that is created with the intention of achieving commercial profit. d. content found on forms of […]

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. business analysis d. development e. commercialization Answer: Which of the following statements […]

A picture or verbal description of a product or service a firm might offer for sale is referred to as a(n) a. constraint. b. proposition. c. new-product concept. d. alternative. e. protocol. Answer: A market-product grid is a framework to […]

An analysis of a prospective product shows that it is expected to grow by at least 10 percent each year over the next 5 years, and then enter the maturity phase of its product life cycle. This type of analysis […]

In evaluating whether its Facebook and Twitter social media programs are working well, Carmex considered using various marketing metrics. One metric it considered was the percentage of Internet Carmex share of voice mentions that are positive, neutral, or negative. This […]

Figure 1. Figure 1. above shows there are six stages in the personal selling process (“A” through “F”) along with the objective(s) of each stage. If the salesperson’s objective is to “gather information and decide how to approach the prospect,” […]

Profit refers to a. the point at which a company’s assets equal its liabilities plus shareholder equity. b. the difference between the list and final price of a product or service. c. the money earned when the economic order quantity […]

The Reynold’s Aluminum foil box has two side tabs that say “Press Here to Lock Roll” to keep the roll of foil in place during use. This demonstrates which elements of good packaging? a. perceptual benefits and functional benefits b. […]

DiGiorno rising crust pizza has been available in the freezer sections of supermarkets for quite a while. The product’s recent introduction of a DiGiorno cheese stuffed crust to its line of pizzas is an example of __________. a. a market-product […]

Dell used __________ to develop an online site to generate 13,464 ideas for new products and website and marketing improvements. a. brainstorming b. crowdsourcing c. group think d. outsourcing e. data mining Answer: Because young people are postponing marriage and […]

In terms of promotion, which of the following type of consumer product stresses status and uniqueness of brand? a. specialty product b. convenience product c. shopping product d. unsought product e. discretionary product Answer: A __________ is a plan that […]

The local radio station broadcast a story about a dry-cleaner that had requested coat donations. The company offered to clean the coats and deliver them to people in need. The various addresses of the dry-cleaner chain were also broadcast so […]

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. This is an example of a. demarketing. […]

In a marketing context, the acronym IMC refers to __________. a. interactive media convergence b. internal marketing communications c. integrated marketing collaboration d. integrated marketing communications e. international marketing communications Answer: Ten general product and service categories dominate online consumer […]

Figure 1. In Figure 1. above, “D” represents which stage of the consumer purchase decision process? a. purchase decision b. information search c. problem recognition d. alternative evaluation e. postpurchase behavior Answer: Recall the famous experiment when Dr. Pavlov presented […]

Clinique Cosmetics has a database of more than 600,000 people who registered on its website by providing selected personal information. The registration process requested that customers fill out a brief survey and check a box that allows Clinique to send […]

Figure 1. Figure 1. above shows the sequential process of building brand equity. The second step is to establish a brand’s meaning in the minds of consumers. This step consists of two dimensions, “D” and “E,” which stand for __________ […]

American Hospital Supply helps its customers (hospitals) manage inventory and streamline order processing for hundreds of medical supplies. The source of American Hospital Supply’s power is its a. economic influence. b. expertise. c. identification with a particular channel member. d. […]

If a fraternity or sorority wanted to attract new members, it should focus on people who view its current members as a(n) __________ group. a. membership b. aspiration c. dissociative d. reference e. involvement Answer: Once a market researcher has […]

Figure 1. Consider Figure 1. above. Suppose a manufacturer quotes price in the following form: List price$100 less 30/10/5. What does “C” represent? a. the wholesaler’s trade discount b. the retailer’s trade discount c. the jobber’s trade discount d. the […]

China is the world’s largest tobacco-producing country and has 300 million smokers. Approximately 700,000 Chinese die annually from smoking-related illnesses. This figure is expected to rise to more than 2 million by 2025. China restricts tobacco imports. U.S. trade negotiators […]

Figure 1.A In Figure 1.A above, “X” represents a. fixed cost b. marginal cost c. variable cost d. marginal revenue e. MR = MC Answer: Firms selected from __________ are sent a quotation request from the purchasing agent describing the […]

All of the following are strategies a market challenger can use when marketing a low-involvement product EXCEPT: a. use sales promotion such as free samples, coupons, and rebates to encourage trial of their brand. b. link their brand attributes with […]

Spruceland Millworks in Canada makes wooden pallets for transporting and storing new appliances such as stoves, freezers, and refrigerators. The demand for Spruceland pallets would be classified as a. reactive demand, which is tied to the sales of appliances, not […]

Technology can change existing products and the ways they are produced. Many companies are using technological developments to allow the __________ of products through the manufacturing cycle several times. a. pruning b. adding c. recycling d. precycling e. refining Answer: […]

Geographical groupings refer to organizational groupings a. that group specific customer segments. b. in which sales territories are subdivided according to geographic location. c. that represent the different departments or business activities within a firm. d. in which a unit […]

Organizations that decide to franchise (franchisors) have __________ expansion costs accompanied by __________ control, compared to owning their own retail outlets. a. greater; greater b. reduced; reduced c. greater; reduced d. reduced; greater e. greater; about the same Answer: The […]

Outside the United States, large retailers include __________ in Japan, Carrefour in France, Metro Group in Germany, and Tesco in Britain. a. Aeon b. Toshei c. Seebi d. Goshen e. Toshi Answer: The set of environmental forces that consists of […]

David Windorski, an inventor at 3M, questioned dozens of students about how they study. They told him a. to make sure new 3M products were available at mass merchandisers such as Walmart. b. that the average backpack was already too […]