Archives: Quiz

AmericanGirlDoll The American Girl catalog began as a concept to introduce today’s girls to those who lived in the past. Each historically accurate doll is carefully crafted and dressed and has books to describe her life. For example, Kristen is […]

Phillip Morris USA, the manufacturer of the Marlboro Ultra Smooth cigarette targeted to people who want to smoke a potentially safer cigarette, has asked for marketing research to explain the reasons for the recent failure of the new cigarette. This […]

When CocaCola North American debuted Gold Peak iced tea, a spokesperson for the company said, “In looking at the ready-to-drink tea market, we found that the one place that nobody seemed to be playing was in the category of classic […]

Chad has calculated the sales volume at which his lemonade stand’s costs equal revenue. Over dinner, he announced to his family that he only needed to sell 50 glasses of lemonade at $5 per glass to cover all his costs […]

Fitbit The pedometer is getting kicked up a notch with the new Fitbit device. The Fitbit is a $99 motion-detecting sensing device that can measure the user’s activity even when asleep. It digitally records the distance a user walks or […]

Within the business market, roller belts that are purchased by vacuum manufacturers are examples of: a. supplies. b. raw materials. c. accessory equipment. d. processed materials. e. component parts. Answer: Which of the following products is most likely to be […]

Which step in the consumer decision-making process is a result of an imbalance between actual and desired states? a. Evaluation of alternatives b. Want recognition c. Purchase d. Need recognition e. Postpurchase behavior Answer: ______ is the quantity of a […]

The form of global organization that provides the highest potential for return on investment as well as the highest level of risk is contract manufacturing. a. True b. False Answer: The imbalance between actual and desired states is sometimes referred […]

An office supply store can buy a desk for $300. If the store owner sells the desk for $450, what is the markup based on the selling price? a. 15 percent b. 20 percent c. 25 percent d. 33 percent […]

A company that sets its goals and strategies based on what its current equipment can produce, what products engineering can design, and what the company itself can do best, has a(n) _____ orientation. a. marketplace b. sales c. market d. […]

The ______ is the set of all persons in an organization who become involved in the purchasing process. a. buying center b. stakeholder committee c. ad hoc purchasing staff d. board of directors e. comptroller’s staff Answer: All of the […]

One marketing issue unique to nonprofit organizations is that these organizations must often target those who are apathetic about or strongly opposed to receiving their services. a. True b. False Answer: DeltaFaucet Company Masco is the name of a well-recognized […]

Joe Hamas sells for Rush Beverages. He is trying to convince retailers to carry his company’s Ginseng Rush, a new all-natural beverage that delivers an energy punch without caffeine. When he gets retailers to agree to stock his product, he […]

ChoiceHomes,Inc. Choice Homes, Inc., based in Texas, built its reputation by building high-quality new homes, often at prices less than “used” ones. Choice Homes used mass purchasing power, innovative hightech communications among employees to coordinate the building process, and other […]

A keiretsuis a(n): a. type of strategic alliance commonly found in Japan. b. method of business e-commerce found in Asia. c. Internet site that offers its customers access to various languages that they can use to conduct their business. d. […]

The goal of persuasive promotion is to: a. stimulate a purchase or an action. b. increase brand awareness. c. describe available services. d. remind the consumers of where to buy the product. e. maintain top-of-mind consumer awareness. Answer: The most […]

Apple, Inc. is now offering the iPhone 4S for free on contract. This new strategy reflects a change in the element of its marketing mix. a. price b. production c. product d. distribution e. target market Answer: CocaCola is one […]

Landline telephone service is a good example of a product in the maturity stage of the product life cycle. a. True b. False Answer: Franchising is a form of: a. contract marketing b. international exporting c. licensing d. direct exporting […]

Price is best described as: a. that which is given up in exchange to acquire a good or service b. money exchanged for a good or service c. the psychological results of purchasing d. the cost in dollars for a […]

In the ____ stage of new-product development, preliminary demand, cost, sales, and profitability estimates are made. a. prototype screening b. idea generation c. concept testing d. post-brainstorming e. business analysis Answer: There are two limousine services that drive customers from […]

The government sector (federal, state, and local) is a minor segment of the business market. a. True b. False Answer: A person buying a Valentine’s Day gift for a significant other is more likely to go through all of the […]

Evergreen Lighting, a manufacturer of decorative, energy-efficient lighting products, requires its buyers to pay for the cost of transportation from the manufacturing site to their place of businesses. Evergreen Lighting uses FOB origin pricing. a. True b. False Answer: Novartis […]

A(n)___ is a statement of sales goals, usually based on sales volume alone. a. breakeven statement b. trend analysis c. order forecast d. account report e. quota Answer: The Nest is a retail store owned and operated by an interior […]

Explain how marketing affects consumers’ everyday life. How will the study of marketing enable you to be a better consumer? Answer: Name and describe the three requirements for effective strategic planning. Answer: ONGOING PROCESS. Strategic planning should be an ongoing […]

Store design provides _____ by offering customers an entertaining and enjoyable shopping experience. A. altruistic experiences B. emotional stability C. tonnage merchandise D. hedonic benefits E. utilitarian benefits Answer: Customer needs and preferences for consumer electronics are very similar across […]

Sam loves shopping. She frequently goes window shopping in the city. During times of need, she visits the nearest supermarket even though she loathes going there. Which of the following is most likely to be the reason why Sam shops […]

Which of the following typically determines the amount and type of compensation paid by an employer? A. Organizational culture B. Market conditions C. Organizational tradition D. Brand strategy E. Marketing plan Answer: Digger’s shoe department was a successful part of […]

_____ delegate challenging work to subordinates, have free and open communication with them, and provide personal mentoring to develop subordinates. A. Chaotic leaders B. Autocratic leaders C. Persuasive leaders D. Transformational leaders E. Democratic leaders Answer: What is the drawback […]

_____ are shopping centers that consist primarily of collections of big-box retail stores, such as full-line discount stores, off-price stores, warehouse clubs, and category specialists. A. Neighborhood shopping centers B. Power centers C. Enclosed shopping malls D. Lifestyle centers E. […]

Eve’s is a retail store selling skincare products. It recently introduced fair trade products such as handmade soaps, herbal skin creams, and shampoos made by rural workers. Eve’s also claimed that a part of the sales proceeds of these products […]

The principal objective of employee socialization is to _____. A. make the screening process faster B. increase turnover C. make on-the-job training unnecessary D. orient new employees to the firm E. prevent the creation of employee bonds Answer: Which of […]

To reduce the delivery gap, retailers need to: A. avoid empowering their front-line employees. B. always assume they know what the customer is complaining about. C. encourage store employees to have an antagonistic attitude toward customer complaints. D. provide instrumental […]

If you had $50,000 and you wanted to invest in stocks, you have two options. Which of the following ratios would best help you to decide on your investment? A. Inventory turnover B. Asset turnover C. Return on assets D. […]

Which of the following statements does not describe gross margin? A. It can be expressed as a percentage of net sales. B. It is the profit on the goods sold excluding the operating expenses. C. It is also referred to […]

In response to a growing trend of workers eating at their work stations, OfficeEase LLC, an Internet retailer, offers a line of products that can be used to protect office equipment and furniture including a plastic sheath for a computer […]

Which of the following is an advantage of the use of sophisticated distribution and information systems? A. It creates a positive image of the brand in the minds of the consumers. B. It offers an opportunity for the retailer to […]

_____ occurs when a consumer goes into a store to learn about different brands and products and then searches the Internet for the same product sold at a lower price. A. Returning B. Direct selling C. Automated retailing D. Showrooming […]

Which of the following statements about Internet retailing is TRUE? A. Internet retailing gives customers an opportunity to use all five senses. B. Customers can have more personalized information on products. C. Customers do not receive sufficient information to evaluate […]

(p.403-404) Which of the following statements holds true for individualized variable pricing? A. Customers may feel that they are being treated in an unfair manner. B. It is a practical approach and is widely used across retail stores. C. Retailers […]

_____ is used to present products when retailers offer a limited number of predetermined price points within a product classification category. A. Flexible pricing B. Competitive pricing C. Price presentation D. Price lining E. Vertical merchandising Answer: The hosting of […]

Which of the following can be used to determine how many people are in a trade area and where they live? A. Customer spotting B. Demographic USA’s Buying Power Index C. Analog approach D. Customer clustering E. Centralization Answer: Retailers […]

When Austin saw pastries and coffee being sold at his local bookstore, he knew it was an example of _____. A. scrambled merchandising B. intertype competition C. product diversification D. channel conflict E. vertical differentiation Answer: From a retailer’s perspective, […]

Which of the following would be a fixed asset? A. Merchandise inventory B. A hand calculator C. The store building D. Accounts receivable E. Accounts payable Answer: Which of the following would not be listed as an asset on the […]

What is the potential byproduct of promotional markdowns? A. It is a way of achieving a break-even point. B. Promotional markdowns benefit customers because they are charged according their willingness to pay. C. Retailers aim to get rid of unwanted […]

Which of the following is a typical reaction that customers exhibit when experiencing multiple stockouts? A. Switching to another retailer B. Patronizing the retailer C. Promoting the retailer on social media D. Initiating litigation against the retailer E. Reviewing product […]

_____ is a purchase decision process involving a moderate amount of effort and time. A. Extended problem solving B. Habitual decision making C. Utilitarian shopping D. Limited problem solving E. Psychological problem solving Answer: _____ is a strategy used by […]

Which of the following is true of the career opportunities offered by the retailing industry? A. Retailers employ people with exclusive expertise in supply chain management. B. Retail managers are often given considerable responsibility early in their careers. C. Retailing […]

In an efficient supply chain and information system, net sales increase because _____. A. customers are offered heavy discounts on the products B. customers are offered tailored assortments that are in stock C. retailers get tax benefits for setting up […]

_____ is the actual sales realized for the merchandise minus its costs of the merchandise sold. A. Total profit B. Net profit margin C. Fixed price D. Maintained markup E. Initial mark-up Answer: Which of the following retail stores is […]

Merchandising, planning, marketing, and finance positions for a national chain are housed: A. predominantly at the corporate headquarters. B. at the individual store level. C. at the back-of-the-house. D. at the regional distribution centers. E. at decentralized locations. Answer: Fewer […]