Archives: Quiz

All of the following are forms of direct marketing EXCEPT: a. catalogs b. in-store free samples c. telemarketing d. paid searches e. direct mail Answer: Income used to buy luxury items such as a Regent cruise is referred to as […]

In what way are traditional and social media similar? a. They both require specialized training. b. They both rely upon contributions from established “experts” to create credibility and social authority. c. They both can reach either large or niche audiences. […]

An advantage of using a panel of consumers for marketing research is a. the discussion leader can help change negative panel responses into positive ones. b. the company can find out if consumers change their purchasing behavior over time. c. […]

A global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership, control, and profits of the new company is referred to as a. licensing. b. a […]

Which of the following statements best reflects the guideline for making plans controllable and flexible? a. “Our research shows the most efficient way to distribute the product is through rack jobbers, but at this point we don”t know how price […]

To reward wholesalers and retailers for the risk they accept in assuming increased inventory carrying costs, manufacturers offer a. noncumulative discounts. b. cumulative discounts. c. trade discounts. d. seasonal discounts. e. functional discounts. Answer: Which of the following is the […]

Contract manufacturing refers to a. offering the right to a trademark, patent, trade secret, or similarly valued items of intellectual property in return for a royalty or fee. b. contracting with a foreign firm to manufacture products according to stated […]

In the telemarketing industry, issues such as __________, ethical guidelines, and industry standards have become a topic of discussion among consumers, Congress, the Federal Trade Commission (FTC), and businesses. a. competitive antics b. coercion tactics c. freedom of speech d. […]

Lost-horse forecasting involves a. admitting that the actions you have taken in the past have failed and removing those and similar actions from you list of alternatives. b. starting with the last known value of the item being forecast, listing […]

Which of the following statements about social class is most accurate? a. Members of the lower class have a more short-term time orientation and think in concrete rather than abstract terms. b. Members of the lower class are more likely […]

Replenishment time refers to a. the time lag from the inception of an idea until its initial commercialization. b. the time lag from ordering an item until it is received and ready for use or sale. c. the time between […]

An organization’s foundation includes all of the following EXCEPT: a. organizational culture. b. business definition. c. vision. d. core values. e. mission. Answer: An inventory-management system whereby the supplier determines the product amount and assortment a retailer needs and automatically […]

The prescribed penalty for agents of foreign governments found guilty of economic espionage is a. up to 15 years in prison and fines up to $500,000. b. life in prison with chance of parole after 25 years. c. 25 years […]

Which of the following statements about the World Trade Organization (WTO) is most accurate? a. The World Trade organization is a temporary institution. b. The 153 member countries of the WTO account for less than 25 percent of world trade. […]

Seminar selling is a method of personal selling in which __________. a. the company provides a free audit of the buyers’ purchase behaviors to identify any weaknesses and then provides formal training on more effective buying behaviors b. a group […]

For 18 months, Warner-Lambert Co. was required to include the following statement in all television advertisements for Listerine: “Listerine will not help prevent colds or sore throats or lessen their severity.” The FTC imposed this requirement because previous advertising had […]

To lower costs and reduce manufacturing time, Michelin has people work together on important purchases. These people include individuals in the roles of buyers, deciders, gatekeepers, and others, as needed. This type of cross-functional group is known as a(n) a. […]

As the use of the Internet grows around the world, there must be as easy an exchange of ideas and information as possible between countries. One important issue is opt-in versus opt-out. In general, European websites have opt-in policies while […]

Robin wants to find the perfect gift for her grandparents’ 50thwedding anniversary. She started looking for the gift last month and expects to spend another couple of months if needed to find a gift they both will like. Robin is […]

The fourth 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: Which of the following is an example of […]

Figure 1.A Figure 1.A above shows that when the quantity demanded moves from 3.0 to 4.5 million units along the demand curve D1, the profit a. increases from $1. to $2.00 per unit. b. decreases from $2.00 to $1. per […]

A manufacturer does marketing research and estimates that consumers will accept a manufacturer’s suggested retail price of $50 for a jacket. The manufacturer expects to offer trade discount terms of 40/10/5 to retailers, wholesalers, and agents in the marketing channel. […]

All of the following types of warranties are discussed in the text EXCEPT _____ warranties. a. limited-coverage b. express c. full d. implied e. lifetime Answer: Figure 1.B Consider Figure 1.B above. If a company chooses to employ its own […]

Evergreen Air Center in Marana, Arizona, is the world’s biggest parking lot for unwanted commercial aircraft. Airlines pay from $750 to $5,000 a month for its storage service. The warm, dry air where the operation is located serves as a […]

The added value a brand name gives to a product beyond the functional benefits provided is referred to as __________. a. brand cach b. brand net worth c. brand equity d. brand benefit e. brand enhancement Answer: The marketing concept […]

Which of the following statements represents a possible measure of success in Step 1define the problem of the five-step marketing research approach? a. You have three weeks and $10,000 to determine if it is going to be profitable to serve […]

There are three general forms of retail ownership: contractual system, independent retailer, and __________. a. dual ownership b. industry consortium c. retailing cooperative d. multi-national cartel e. corporate chain Answer: Central Ice Machine Company is located in Omaha, Nebraska and […]

New product brands introduced as defensive moves to counteract and confront a firm’s competition are referred to as __________. a. co-brands b. private brands c. fighting brands d. brand extensions e. subbrands Answer: A moral philosophy that exists in the […]

Trading up refers to __________. a. adding product features but reducing the price b. changing the distribution channel members to higher-service-quality retailers c. adding value to the product (or line) through additional features or higher-quality materials d. reallocating marketing resources […]

The acronym “SWOT” in the term “SWOT analysis” stands for __________. a. strengths, weaknesses, opportunities, and tactics b. strengths, weaknesses, options, and tactics c. strengths, weaknesses, opportunities, and threats d. simple, workable, optimal, and timely e. state the problem, work […]

The Infant Formula Act, the Nutritional Labeling and Education Act, and the Fair Packaging and Labeling Act are all examples of a. consumer-oriented legislation. b. pricing-related legislation. c. distribution-related legislation. d. requirement contracts. e. fair trade legislation. Answer: The primary […]

The communication capabilities of Internet-enabled technologies take three forms: (1) __________; (2) consumer-to-marketer buying and service requests; and (3) consumer-to-consumer chat rooms, instant messaging, and social networking websites. a. marketer-to-consumer e-mail notification b. government-to-marketer Do Not Spam monitoring c. phishing […]

Prices in vending machines tend to be higher because a. machines are placed in high demand/traffic areas. b. maintenance, operating, and leasing costs are high. c. only small unit volume items are sold. d. customary pricing requires certain coin and […]

Dual distribution can violate the Sherman Act and the Clayton Act if the a. prices charged for items sold through one channel are different from the prices charged for the same items in another channel. b. manufacturer’s behavior is viewed […]

Many firms such as Xerox use a cross-functional sales practice known as __________. a. collaborative selling b. team selling c. cooperative selling d. account selling e. formula selling Answer: “Epicurious” is a website where recipes are posted by the site […]

Which of the following statements regarding corporate vertical marketing systems is most accurate? a. Corporate vertical marketing systems can use either forward integration or backward integration but not both. b. Corporate vertical marketing systems increase distribution costs. c. Corporate vertical […]

Figure 1. Figure 1. above depicts four common marketing channels for consumer products and services that differ by the kind and number of intermediaries. Channel “A” would be an appropriate marketing channel for which of the following? a. automobiles b. […]

The information needed for the marketing program, Step 3 of the planning phase, includes: (1) marketing mix actions and (2) __________. a. positioning studies b. market-product grids with target segments and product groupings c. detailed plans to execute the marketing […]

Which of the following are examples of elements involved in Step 1 of the price-setting process: identify pricing objectives? a. profit, market share, and survival b. estimation of demand, sales revenue, and price elasticity c. cost estimation, marginal analysis, and […]

Advertisements basically consist of two types: __________ and __________. a. re-purchase; postpurchase b. promotional; reinforcement c. promotional; informative d. product; service e. product; institutional Answer: The view that holds customers will abandon their efforts to enter and navigate a website […]

Product modification refers to a marketing strategy that __________. a. alters a product’s characteristic such as its quality, performance, or appearance to increase its value to customers and to increase sales b. manages a product’s life cycle to increase its […]

Four key challenges that package and label designers face include: (1) connecting with customers; (2) environmental concerns; (3) health, safety, and security issues; and (4) __________. a. social and societal issues b. competition from global markets c. cost reduction d. […]

Which of the following is a form of flexible pricing? a. odd-even pricing b. yield management pricing c. above-, at-, or below-market pricing d. target pricing e. cost-plus pricing Answer: When Theresa Martinez relocated from the East to the Midwest, […]

Marissa, a college student, and her father, a wealthy businessman, were each considering the purchase of a new automobile. As a college student with limited financial resources, Marissa went from car dealer to car dealer in several different cities searching […]

Which of the following statements about marketing activities is most accurate? a. Marketing is affected by society but rarely, if ever, affects society as a whole. b. The marketing department works closely with other departments and employees to implement marketing […]

According to research conducted by Canadian cultural anthropologists, Canadians place a high importance on personal relationships. This leads them to be extremely reluctant to buy through an impersonal medium like a telephone. For an insurance company that was hoping to […]

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: The unauthorized use of intellectual property can severely affect the owners […]

One of Porter’s generic business strategies involves controlling expenses and lowering product prices targeted at a narrow range of market segments. This is referred to as a __________ strategy. a. cost focus b. cost leadership focus c. differentiation focus d. […]

When past experience is insufficient, the risk of making a wrong decision is high, and the cost of gathering information is low, a consumer is more likely to use an __________ for information. a. internal search b. informal search c. […]

Which of the following statements is MOST accurate? a. The name Gatorade was chosen because as an energy drink it “got you out the gatefast.” b. The name Gatorade was coined by a team who lost to the University of […]