Archives: Quiz

Marketers at Omega Pharmaceuticals are identifying stores and outlets that will be most convenient for customers to buy its products. The company is also planning the logistics of how and when the products will be delivered to the outlets. Omega […]

Cost competitive advantage can be achieved by: a. avoiding reverse engineering efforts. b. avoiding manufacturing products in bulk. c. avoiding marginal customers. d. avoiding government subsidies. Answer: Using three-dimensional printing (3DP) technology, objects are built to precise specifications using raw […]

In the context of developing an effective customer relationship management system, the use of big data analytics is restricted to the storage and integration of customer data. a. True b. False Answer: Hispanic Americans: a. prefer to buy American products […]

Which of the following is a similarity between raw materials and component parts? a. Both fail to retain their identity in final products. b. Both become part of the final product. c. Both are unprocessed extractive products. d. Both are […]

After Hal Li purchased and installed a wood-burning stove to heat his home, the stove caught fire and damaged much of the house. He believes the stove had inadequate insulation. Hence, Li should voice his concerns to the Federal Trade […]

Which of the following items are inexpensive when compared to other business products? a. Accessory equipment b. Installations c. Component parts d. Supplies Answer: Which of the following is a limitation of the revenue-oriented pricing approach? a. High tax rates […]

The goal of most supply management activities is to: a. reduce the costs of raw materials and supplies. b. engage a segment of customers who might not purchase the product otherwise. c. eliminate other significant management activities. d. limit the […]

Corporate blogs are blogs that entail shorter posts than traditional blogs. a. True b. False Answer: Maximizing the amount of time customers wait in line is a key factor in maintaining the quality of service. a. True b. False Answer: […]

Ramelson Inc. features photographs of celebrities wearing Ramelson clothes and shoes on its Web site. The company uses these celebrities to promote its products as it believes that celebrities can influence customers’ buying decisions. These celebrities serve as _____. a. […]

Promotional mixes do not vary from one product or industry to the next. a. True b. False Answer: Revel Inc., a cell phone manufacturer, launched its new range of smartphones that could only be purchased on the company’s official Web […]

Arise Food Corporation displays posters in supermarkets to promote its new range of pasta sauces. Which of the following stages of the communication process is the company engaged in during the course of promoting its products? a. Customizing b. Decoding […]

Consumers’ product preferences remain stagnant irrespective of their age and place in the family life cycle. a. True b. False Answer: Which of the following statements is true about the niche strategy? a. Only large companies can implement a niche […]

Which of the following steps of the new product development process would most likely use an R-W-W framework? A) idea generation B) idea screening C) concept testing D) test marketing E) commercialization Answer: A doctor performing hip surgery on a […]

Each PC produced by HP involves a cost of computer chips, wires, plastic, packaging, and other inputs. Although these costs tend to be the same for each unit produced, they are called ________ costs because the total changes based on […]

A product is in the maturity stage of the product life cycle, and the company decides to modify the marketing mix. Which of the following steps is the company most likely to take? A) use aggressive sales promotions B) change […]

ColaBlue, a soft drink manufacturer, is sued by an environmental group for not meeting certain safety standards in its waste disposal. ColaBlue remedies the problem by adding higher-grade filters and purifiers. Which of the following actions by ColaBlue would constitute […]

Karen Dodd is employed by Dell and responsible for calling on primary schools in her home state of Maine to promote the company’s offerings. She demonstrates the Dell line of products including desktop computers, laptops, and tablets and fields questions […]

Danko International is a multinational company that targets the BRIC countries (Brazil, Russia, India, and China) because they’re fast-growing developing economies and use ________ to segment its world markets. A) political factors B) legal factors C) personality factors D) economic […]

Retailers must decide on three major product variables: product assortment, services mix, and ________. A) store location B) store layout C) self-service offerings D) store atmosphere E) store ambience Answer: Which of the following is an example of licensing? A) […]

Kevin Pinker is a freelance computer programmer who writes computer algorithms for companies such as SoftStar and BlueHill. SoftStar and BlueHill use these algorithms to make specific programs based on online market research. These programs are then sold to the […]

Which of the following would be considered an upstream partner in a company’s supply chain? A) a firm that resells a finished product and shares the net sales with the producer B) a firm that provides technical expertise in the […]

The 4Ps model has been challenged because it omits or underemphasizes important activities such as services. It’s also been criticized for taking a seller’s, rather than a buyer’s, viewpoint. The more recent 4As framework complements the traditional model and includes […]

Which of the following is most likely a true statement about diversity in the United States? A) Most ethnic groups are shedding their ethnic culture and shifting toward a unified American culture. B) Asian Americans constitute the largest ethnic group […]

Unsolicited and unwanted commercial e-mail is referred to as ________. A) an infomercial B) an advertorial C) viral marketing D) social media E) spam Answer: Which of the following is a drawback of using blogs as a marketing medium? A) […]

Which of the following sets the lower limit for a product’s pricing? A) product costs B) profits C) competition D) elements of the product mix E) consumer perceptions of value Answer: Introducing a new product into the market is called […]

Ursa Martin, a book publisher, has decided to work with Hope in Children, a charity foundation that helps feed and educate children in poor countries. Ursa Martin has decided that a percentage of revenue from every book it sells will […]

Which of the following is a disadvantage of using a magazine as an advertising medium? A) It has a poor pass-along readership. B) It involves high costs. C) It has low geographic selectivity. D) It has low credibility and image. […]

Posting digital content on brand Web sites or on social media sites such as YouTube, Facebook, Vine, and others are forms of ________ marketing. A) corporate intranet B) online video C) viral blog D) media portal E) digital kiosk Answer: […]

The ________ concept holds that a company’s marketing should support the best long-run performance of the marketing system. A) selling B) global marketing C) sustainable marketing D) differential marketing E) marketing Answer: When an effective program can be designed for […]

Lakeland Inc. employees get 40 hours paid leave each year to pursue volunteer projects. The company runs a service day that hosts projects in 25 countries, and it supports a nonprofit that brings young people into public service for a […]

In a promotion mix, ________ involves personally connecting with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships. A) direct marketing B) advertising C) public relations D) predictive analyticals E) indirect procurement Answer: ________ […]

The franchise organization is an example of a corporate vertical marketing system. Answer: The Robinson-Patman Act seeks to prevent unfair price discrimination by ensuring that sellers offer the same price terms to customers at a given level of trade. Answer: […]

Many low-income consumers find themselves in food deserts, which are plentiful in fruits and vegetables, fresh fish, and chicken but lack products like frozen pizzas, Cheetos, Moon Pies, and Cokes. Answer: The suppliers who are not adding value based on […]

Cigarettes and junk food are considered pleasing products. Answer: Holiday Inn divided the total customer market into smaller segments and selected the most promising segments. Deciding what position it wants to occupy in these segments is called diversification. Answer: FALSE […]

Independent off-price retailers purchase merchandise at rates that are substantially higher than regular wholesale rates. Answer: Target costing starts with an ideal selling price based on customer value considerations and then aims at costs that will ensure that the price […]

Marketing intermediaries supply resources needed by a company to produce its goods and services. Answer: The marketing concept is a customer-centered, sense-and-respond philosophy. Answer: TRUE Individual interviews cost three to four times as much as telephone interviews. Answer: TRUE Public […]

In the progress toward environmental sustainability, a company must first develop a sustainability vision, which serves as a guide to the future. Answer: In the 4Ps of the marketing mix, promotion refers solely to advertising. Answer: FALSE People use the […]

The more loyal a firm’s profitable customers, the lower its customer equity. Answer: Unsought products are consumer products that the consumer either does not know about or knows about but does not normally consider buying. Answer: TRUE An airline runs […]

Category killers are superstores that carry a deep assortment of a particular product line. Answer: The most important issue facing online researchers in the United States is the lack of a broad cross section of consumers who have access to […]

Cian, an automobile manufacturer, offers a new car model with features comparable to that of another popular brand. However, the Cian model is priced lower than its competitor and includes a longer warranty. Cian is most likely following a more-for-the-same […]

In advertising, reach is a measure of the percentage of people in the target market who are exposed to an ad campaign during a given period of time. Answer: Sales promotions typically create short-term sales but are viewed as ineffective […]

Product development usually costs the least among all the steps of the new product development process. Answer: The three types of off-price retailers are: independents, factory outlets, and corporate chains. Answer: FALSE Sweepstakes give consumers a chance to win something, […]

If, after seeking all reasonable secondary data sources, research questions are still not adequately answered, a market researcher must collect primary data. Answer: Half of Shanghai’s GDP is derived from its _____. A. financial services industries B. steel industries C. […]

Which of the following ensures that balance-of-payments records are always in balance? A. Sum of squares recording system B. Bank reconciliation system C. Double-entry bookkeeping system D. Archival records system E. Multifactor recording system Answer: A marketer may face lower […]

Which of the following is a factor responsible for global business successes? A. Standardization rather than customization of negotiation procedures across all cultures B. Emergence of the English language as the chief medium of negotiations C. Increased homogenization of cultures […]

Which of the following provinces of China shares the closest economic ties with Russia? A. Liaoning B. Jilin C. Heilongjiang D. Guangdong E. Hainan Answer: Which of the following methods is considered most effective while resolving disputes with Chinese business […]

Which of the following stages of Rostow’s five-stage model of economic growth do highly-industrialized countries like Japan and Germany fit into? A. Traditional society B. Preconditions to takeoff C. Takeoff D. Drive to maturity E. The age of mass consumption […]

Which of the following is an effective approach to prevent Chinese consumers from creatively copying foreign intellectual property? A. Boycotting all trade activities with China B. Placing embargoes on trade with China C. Charging what the market will bear D. […]

In the context of foreign market entry strategies, the advantages of _____ are most apparent when capital is scarce, import restrictions forbid other means of entry, a country is sensitive to foreign ownership, or patents and trademarks must be protected […]

In the context of international business negotiations, even in countries where women do not participate in management, American female negotiators are first treated as _____. A. distractions B. ignorant people C. incompetent people D. foreigners E. inexperienced people Answer: Which […]