Archives: Quiz

Target return pricing uses the concept of a(n) ________, which shows the total cost and total revenue expected at different sales volume levels. A) BCG matrix B) break-even chart C) SWOT analysis D) demand curve E) experience curve Answer: A […]

In 1994, the North American Free Trade Agreement (NAFTA) established a free trade zone among the United States and Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua. Answer: Most shopping centers are ________. A) strip malls B) […]

In Via del Mar, Chile, a large number of shops specialize in selling the same quality of seafood products along the beach frequented by tourists. No individual shop dares charge more than the going price without fearing loss of business […]

Teenagers are expected to respond in a similar way to a set of marketing efforts. In other words, this group represents a ________. A) channel intermediary B) line extension C) market segment D) product attribute E) brand personality Answer: A […]

________ are online journals where people post their thoughts, usually on a narrowly defined topic. A) Social networks B) Blogs C) Forums D) Search engines E) Web directories Answer: Cybertron Inc. was accused of deceptive pricing. Which of the following […]

Which of the following is true about the product sales force structure? A) A product sales force structure is most appropriate for a company that manufactures a small number of simple products. B) In a product sales force structure, each […]

Which of the following was designed to help foster trade between nations? A) tariffs B) GATT C) exchange controls D) quotas E) nontariff trade barriers Answer: Tone Zone plans to introduce four mp3 player models over the next year. These […]

In industries in which pricing is a key factor, ________ often set the best prices or help others in setting them. A) sales departments B) salespeople C) production managers D) line managers E) pricing departments Answer: After a brief stay […]

Jason has been recently hired as a salesperson by Matrix Inc., a company selling consumer durables. He is currently working on his first sales assignment. After identifying a good prospect, Jason is now learning everything about his prospect via online […]

Santana Automobile’s Arrow is the first mass-produced hybrid vehicle, known for its fuel efficiency and environmental friendliness. The Arrow is most likely to become popular in the ________ market. A) SOHO B) LOHAS C) LGBT D) business E) Millennials’ Answer: […]

Trusted Wholesalers is a company that purchases products produced in Mexico and sells them to companies based in the United States and Canada. Management at Trusted Wholesalers would most likely be interested in becoming experts in the policies developed by […]

Nintendo, producer of the Wii video game console, might define its competitors as other makers of physically interactive video games. But from a(n) ________ point of view, it would include all firms making physically interactive recreational products. A) industry B) […]

Mission statements should ________ and be defined in terms of ________. A) be technology oriented; meeting the self-actualization needs of customers B) be product oriented; satisfying the esteem needs of customers C) embody the company’s short-term plans; current opportunities D) […]

Which form of geographic pricing is a company using when it charges the same rate to ship a product anywhere in the United States? A) uniform-delivered pricing B) psychological pricing C) zone pricing D) FOB-origin pricing E) basing-point pricing Answer: […]

Glee and The Wall Street Journal are both examples of ________-specific media within each general media type. A) alternative media B) major media C) media vehicles D) media multitaskers E) micromedia Answer: Which of the following is true about business […]

Which of the following stages of the PLC is characterized with high promotional expenditures that result from an effort to create consumer awareness? A) growth B) product development C) maturity D) introduction E) decline Answer: Which of the following is […]

________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. A) Product marketing B) Strategic planning C) Marketing research D) Market segmentation E) Causal research Answer: Which of the following […]

Press conferences, speeches, store openings, special events, newsletters, and store magazines are examples of ________ activities used by retailers to promote themselves. A) public relations B) sales promotions C) personal selling D) affinity marketing E) social marketing Answer: Most of […]

Rather than competing head to head with established competitors, many companies seek out unoccupied positions in uncontested market spaces. They try to create products and services for which there are no direct competitors. This is called a ________. A) horizontal […]

For her current research project, Margaret Rogers wants to select a sample in which every member has a known and equal chance of selection. In other words, Margaret is looking for a ________. A) simple random sample B) convenience sample […]

JumBo Games is in the commercialization stage. The first decision that the firm should make while introducing the product in the market is introduction timing. Answer: Sellers cannot influence or use consumers’ reference prices when setting their product prices. Answer: […]

Company growth through diversification involves offering modified or new products to the company’s current markets. Answer: If Audi develops a new low-priced model for entry-level consumers in Europe, it would be an example of straight product extension. Answer: FALSE Labels […]

Multichannel marketing occurs when a single firm sets up two or more marketing channels to reach one or more customer segments. Answer: Jim is planning on buying an expensive HDTV and he realizes that there are few differences between brands. […]

Blair Housewares wants to add new products to its existing line of products. Managers are correct in believing that the purpose of idea generation is to create a few ideas, and the purpose of succeeding stages is to increase that […]

Horizontal conflicts are conflicts between different levels of the same channel. Answer: Shopper marketing involves focusing the entire marketing processfrom product and brand development to logistics, promotion, and merchandisingtoward turning shoppers into buyers at the point of sale. Answer: TRUE […]

Good marketing communications can speed the demise of a poor product. Answer: Line extension refers to extending an existing brand name to new product categories. Answer: FALSE In the business buying process, business buyers determine which products and services their […]

Marketing researchers can conduct their own searches of secondary data sources by using mail questionnaires and interviewing individuals. Answer: A market is the set of actual and potential buyers of a product or service. Answer: TRUE Subcultures consist only of […]

In recent years, convenience stores have redesigned their stores to closely focus on serving their primary target market made up of young, blue-collar men. Answer: Convenience products are less frequently purchased consumer products and services that customers compare carefully on […]

Product stewardship involves minimizing not only pollution from production and product design but also all environmental impacts throughout the full product life cycle, and accepting increased costs. Answer: Neuromarketing involves measuring brain activity to learn how consumers feel and respond. […]

Gary Hirshberg started the Stonyfield Farm yogurt company. His marketing strategy: building a casual bond with customers using guerilla marketing. This is an example of formulated marketing. Answer: Sequential product development has the advantage of not only being a team-oriented […]

Large-scale marketing approaches that foster two-way customer relationships are made possible by new communication technologies. Answer: Air carriers transport digital products from producer to customer via satellite, cable, phone wire, or wireless signal. Answer: FALSE The government market consists of […]

Market challengers can grow by further increasing their market shares. Answer: A group of firms in an industry following the same or a similar strategy in a given target market is known as a strategic group. Answer: FALSE In an […]

PR can have a strong impact on public awareness at a much higher cost than advertising can. Answer: A product idea is an idea for a possible product that a company can offer the market. Answer: TRUE The number of […]

The more elastic the demand, the more it pays for the seller to raise the price. Answer: To increase its ‘share of customer,” a firm concentrates on retaining as many customers as possible over its lifetime. Answer: FALSE Integrating the […]

Sales promotion involves building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events. Answer: The goal of competitive marketing intelligence is to evaluate and prevent high employee turnover. Answer: FALSE Abel is considering whether […]

Which of the following statements about comparative advertising is true? a. Comparative advertising is highly effective in Arabic countries. b. The FCC is the only federal agency that has any regulatory power over comparative advertising. c. Comparative advertising is often […]

A news story on the resignation of Steve Jobs as CEO of Applecomplete with descriptions of the numerous innovations he pioneered during his tenureis an example of: a. a sales promotion. b. free advertising. c. demarketing. d. newspaper advertising. e. […]

For sports marketers, an inelastic demand curve means that they have greater flexibility in making pricing decisions. What can a sports marketer do to make demand for his or her product more inelastic? a. Have a winning team that people […]

Gray marketing channels assist brand name manufacturers in marketing their products more efficiently. a. True b. False Answer: Marketers can control the external environment in which their organizations operate. a. True b. False Answer: False RATIONALE: Although marketers can control […]

On Subway napkins, nutritional information for their 6inch subs is compared to McDonald’s Big Mac and Burger King Whopper. This is an example of competitive advertising. a. True b. False Answer: While many green products have practical benefits, none of […]

StarbucksLoyaltyRewards The first Starbucks opened in 1970 in Seattle, Washington. The demand for its coffee grew, and Starbucks added more than 6,000 stores located in over 30 countries. In its more than 30-year history, Starbucks has never given out coupons […]

Which of the following questions is NOT likely to be asked during the business analysis stage? a. What is the likely demand for the product? b. Which celebrity spokesperson can we hire to promote the product? c. Would current customers […]

GoingtotheDogs Demand for pet services is greatly increasing across the United States. In fact, Americans will spend nearly $44 billion dollars on their pets this year. Many American dog owners are seeking out “doggy day cares” that are more like […]

A production costs analysis could be a part of a company’s SWOT analysis. a. True b. False Answer: Stores carrying Revlon Super Lustrous lipstick have begun using touch-screen televisions that allow customers to see how different styles might look on […]

Martina buys cola every week at the grocery store, but she always buys whatever is on sale. Coca-Cola, Pepsi, RC Colait doesn”t matter to her. She is happy with whatever costs the least. Martina would be characterized as a: a. […]

Tall Paul’s designs and sells household furniture and furnishings to people who are over 6″6″ tall””a rather small target market. Tall Paul’s uses a(n) _____targeting strategy. a. benefit b. undifferentiated c. multisegment marketing d. universal product code e. concentrated Answer: […]

The ultimate goal of most market-oriented firms is profitability that results from satisfying the wants and needs of its consumers. a. True b. False Answer: What are the four basic tasks of promotion? a. Informing, persuading, instituting and convincing b. […]

The two types of shopping products are: a. unsought and convenience. b. generic and family. c. exclusive and intensive. d. heterogeneous and homogeneous. e. consumer and business. Answer: KitKat The popular Kit Kat chocolate bar was created by Rowntree’s, a […]

To initiate the CRM cycle, a company must first: a. establish marketing objectives. b. capture relevant customer data on interactions. c. identify customer relationships with the organization. d. understand the interactions the company has with current customers. e. decide on […]

Most people recognize Butterball as a brand of turkey, but Butterball brand is also found on fresh turkey breast cuts, turkey sausages, and ground turkey; lunchmeat cold cuts; fresh marinated bone-in, boneless, and whole chicken; frozen chicken products; and Butterball […]