Archives: Quiz

This company was rated by Fortune as the world’s most admired company in 2011 and Bloomberg Businessweek perennially rates it as the most innovative company in the world. a. IBM b. Microsoft c. 3M d. Kodak e. Apple Answer: The […]

In a feedback loop, a response refers to a. the number of times a consumer must hear a message before it can be accurately decoded. b. the impact the message had on the receiver’s knowledge, attitude, or behaviors during the […]

In the automobile industry, many companies use a __________, whereby a manufacturer licenses dealers to sell its cars subject to various sales and service conditions. a. service-sponsored producer franchise system b. service-sponsored retail franchise system c. manufacturer-sponsored wholesale franchise system […]

Dell Inc. learned that the lithium-ion batteries in its notebook computers posed a fire hazard to consumers. The company recalled 2.7 million batteries and gave consumers a replacement before any personal injuries resulted. Dell was most likely concerned with consumers’ […]

Figure 1. According to Figure 1. above, what is the price of Newsweek when marginal revenue is $0? a. $0 b. $0.50 c. $1.0 d. $1.5 e. $2.00 Answer: The group of prospective buyers toward which a promotion program is […]

Which of the following would most likely be considered a consumer product? a. ball bearings b. back hoe c. printing press d. suitcase e. mainframe computer Answer: Among consumer products, advertising and wide distribution are especially important for a. durable […]

The axes on a perceptual map are a. two product attributes, each listed in terms of their opposites. b. market share and market growth rate. c. sales and profitability. d. customer perceptions of the firm’s product versus the average of […]

Walmart’s $421 billion in sales in 2010 surpassed the gross domestic product of all but __________ countries for that same year. a. 5 b. 12 c. 18 d. 29 e. 50 Answer: With a cost-oriented pricing strategy, a price setter […]

Creating product assortments from several sources to serve customers would be an example of a __________ function. a. transactional b. facilitating c. selling d. logistical e. risk taking Answer: What do the United States Post Service, the U.S. Park Service, […]

A management approach in which a manger is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category, is […]

Which of the following statements regarding salesforce compensation plans is most accurate? a. The most preferred compensation plan among sales people is the straight commission plan. b. Nonmonetary rewards are not very effective as salesforce motivators. c. New recruits are […]

When you view a selection at Amazon.com and see “Customers who bought this (item) also bought “, you are seeing the application of __________. a. real-time e-commerce b. connectivity c. interactive marketing d. personalization e. collaborative filtering Answer: The four […]

Figure 1. In Figure 1. above, “C” represents the __________ influences that can affect the consumer purchase decision process. a. sociocultural b. economic c. environmental d. situational e. market dominated Answer: How a person establishes expectations for a service not […]

Movie studios use market research to reduce their risk of losses by hiring firms like the National Research Group to conduct test screenings and tracking studies. Often, 300 to 400 prospective moviegoers are recruited to attend a ‘sneak preview” of […]

Figure 1. According to Figure 1. above, which social network was closest to Facebook terms of unique U.S. visitors per month as of September 2011? a. LinkedIn b. YouTube c. Twitter d. Angry Birds e. Plants vs. Zombies Answer: When […]

Figure 1. In Figure 1. above, “B” represents the __________ influences that can affect the consumer purchase decision process. a. economic b. situational c. environmental d. marketing mix e. market dominated Answer: Private branding refers to a branding strategy in […]

The first step in the sequential building process of brand equity involves __________. a. developing positive brand awareness b. creating a consumer-brand connection c. easing consumers’ decision making d. eliciting the proper consumer responses to a brand’s identity and meaning […]

Best Foods Company is considering expanding beyond the regional market segments now served by its Hellmann’s mayonnaise. One criterion management wants to use to evaluate potential new geographic market segments is whether new equipment must be bought to serve each […]

The four utilities marketing creates are a. product, price, promotion, and place. b. form, function, value, and people. c. monopoly, monopolistic competition, pure competition, and oligopoly. d. form, place, time, and possession. e. natural gas, fossil fuel, electricity, and water. […]

Which of the following would be an example of an objective in Step 1 of the price-setting process? a. “We need to find the least expensive distributor.” b. “We need to make allowances for large quantity orders.” c. “We need […]

When Procter & Gamble Co. acquired the Old Spice brand, it decided to reposition the brand by using a different advertising message to see whether sales would then increase. The new advertising message is the __________ in this marketing experiment. […]

Specialized functions such as marketing and finance are generally referred to as __________. a. teams b. groups c. divisions d. departments e. business units Answer: Figure 1. Based on the information in Figure 1. above, the planning gap between 2003 […]

A statement indicating the liability of the manufacturer for product deficiencies is referred to as a(n) __________. a. warranty b. consumer bill of rights c. product liability statement d. manufacturer’s disclaimer e. guarantee Answer: A contractual arrangement between a parent […]

Breyer’s introduced a new line of ice cream flavors for sale in elegant black containers. This was done on a limited scale to determine consumer reactions before national distribution of the product. Breyer’s new product was in the __________ stage […]

Employees who report unethical or illegal actions of their employers are referred to as a. whistle-blowers. b. scabs. c. cronies. d. corporate snitches. e. ombudsman. Answer: Whereas traditional media build credibility through “experts” being “influencers” in a particular field, with […]

When one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals, it is referred to as __________. a. distributor dissension b. marketing channel discord c. partnership divergence d. channel conflict e. channel […]

The reward to a business firm for the risk it undertakes in marketing its offerings is referred to as a. shareholders’ equity. b. profit. c. assets. d. contribution margin. e. goodwill. Answer: With a __________ pricing strategy, a price setter […]

Archer Daniels Midland Co. (ADM) is the world’s largest cocoa-bean processor. It buys cocoa beans and converts them into cocoa powder and cocoa butter, which it then sells to companies like Hershey’s that manufacture consumer products containing chocolate. ADM is […]

An arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors is referred to as a(n) __________. a. tying arrangement b. requirement contracting c. exclusive dealing d. territorial dealership contracting e. selective distribution […]

In a marketing context, goal setting involves setting measurable __________ to be achieved. a. marketing metrics b. marketing objectives c. marketing tactics d. marketing plans e. protocols Answer: Emily had an excellent year as a saleswoman in 2011, earning $97,000. […]

A __________ explains: (1) to whom a salesperson reports; (2) how a salesperson interacts with other company personnel; (3) the customers to be called on; (4) the specific activities to be carried out; (5) the physical and mental demands of […]

People who control the flow of information in the buying center, such as technical experts and secretaries, can keep salespeople and information from reaching others in the buying center and are referred to as __________. a. deciders b. obstructionists c. […]

Standard markup pricing refers to a. adjusting the price of a product so it is “in line” with that of its largest competitor. b. setting the price of a line of products at a number of different price points. c. […]

The __________ focuses on performing services that provide a unique experience. a. intangibility economy b. experience economy c. virtual economy d. magic of marketing e. authentic economy Answer: In the communication process, _________ ensure(s) that messages are decoded properly. a. […]

In some cases, penetration pricing may follow skimming pricing. The skimming pricing would help __________ and the penetration pricing would help__________. a. increase market share; attract price-insensitive customers b. attract price sensitive customers; increase market share c. recoup initial research […]

A company can protect its competitive position under __________, which gives inventors the right to exclude others from making, using, or selling products that infringe the patented invention. a. copyright law b. patent law c. criminal law d. commercial law […]

Grape-Nuts was one of the first cereals Post Cereal Company ever marketed. It scores well in brand awareness studies, but recently its sales have been steadily declining. Rather than assume the product was a “dog,” the Grape-Nuts marketing manager decided […]

Figure 1. According to Figure 1. above, point “D” would most likely be __________. a. exporting b. joint venture c. direct investment d. franchising e. licensing Answer: What is the technology called that allows a marketer’s website to record a […]

A time of declining economic activity when businesses decrease production, unemployment rises, and many consumers have less money to spend is referred to as a. deflation. b. inflation. c. prosperity. d. a recession. e. a depression. Answer: Cross-functional teams refer […]

Tests conducted after an advertisement has been shown to the target audience to determine whether an ad accomplished its intended purpose, are referred to as __________. a. jury testing b. tracking tests c. exposure testing d. posttests e. pretests Answer: […]

A car collector, Mr. F. Hansen, who said his 1975 Chevrolet Corvette was certified as the last Corvette convertible to be produced, sued General Motors to stop it from manufacturing any more of the convertible sports cars. The suit also […]

A mission statement includes all of the following elements EXCEPT: a. short-term. b. inspirational. c. clear. d. meaningful. e. concise. Answer: Balance of trade refers to a. the sum of all a nation’s imports and exports. b. the difference between […]

During the evaluation phase of an IMC program, a firm will __________ and make needed changes. a. posttest the promotion b. design the promotion c. state the mission e. carry out the promotion d. identify possible advertising or promotional firms […]

The BCG has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization. “Dogs” are SBUs that are classified as having a. […]

3D HDTVs are in which stage of the product life cycle? a. introduction b. growth c. maturity d. decline e. harvest Answer: Industrial services are support products that include items such as a. stationery, paper clips, and brooms. b tools […]

In setting research objectives, marketers have to be clear on the purpose of the research that leads to marketing actions. The three main types of marketing research include descriptive research, exploratory research, and __________ research. a. causal b. virtual c. […]

The reformulation of the original less sweet, more bitter Coca-Cola (now Coca-Cola Classic) into a new sweeter one (eventually called New Coke) was one of the biggest decisions in the firm’s history. Coke was responding to Pepsi’s gain in market […]

Figure 1. Figure 1. above represents the six steps in setting price. “C” represents the step at which a firm would a. estimate demand and revenue. b. identify pricing objectives and constraints. c. scan competitors for prices of similar products […]

Customer service refers to a. adhering to the belief that the customer is always right. b. satisfying the customers’ needs no matter what the price. c. accepting full liability if a product fails to meet a customer’s expectations. d. the […]

There are five dimensions to emotional intelligence: self-motivation; self-awareness; the ability to manage one’s emotions and impulses; __________; and social skills. a. empathy b. sense of humor c. the ability to read body language d. the ability to be positive […]