Archives: Quiz
978-1259924040 Test Bank Chapter 15 Part 8
270) Another name for order cycle time is A) physical distribution sequence. B) total logistics cycle. C) replenishment time. D) logistical support time. E) billing cycle. Answer: C Explanation: Key term definition—order cycle time or replenishment time. Difficulty: 1 Easy […]
978-1259924040 Test Bank Chapter 15 Part 7
234) What is the first step in choosing the right supply chain? A) Understand the supply chain. B) Develop a list of qualified channel members. C) Enumerate logistics specifications. D) Compare multiple-channel alternatives. E) Understand the customer. Answer: E Explanation: […]
978-1259924040 Test Bank Chapter 15 Part 6
196) The Clayton Act prohibits, restricts, or influences all of the following channel strategies and practices except which? A) exclusive dealing B) refusal to deal C) resale restrictions D) vertical integration E) tying arrangements Answer: C Explanation: Figure 15-7 shows […]
978-1259924040 Test Bank Chapter 15 Part 5
159) Most Apple retail stores have a Genius Bar staffed with highly trained personnel who can help customers with their purchases of iPads, iPhones, and other Apple products and services. Which buying requirement is Apple satisfying with its Genius Bar? […]
978-1259924040 Test Bank Chapter 15 Part 4
119) Franchising is one form of a(n) A) corporate vertical marketing system. B) horizontal marketing system. C) administered vertical marketing system. D) wholesaler-sponsored voluntary system. E) contractual vertical marketing system. Answer: E Explanation: Franchising is a contractual arrangement between a […]
978-1259924040 Test Bank Chapter 15 Part 3
79) The blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online is referred to as A) direct marketing. B) indirect marketing. […]
978-1259924040 Test Bank Chapter 15 Part 2
39) Facilitating function activities include A) buying and selling. B) assorting, sorting, and storing. C) financing, grading, and marketing information and research. D) risk taking. E) transportation. Answer: C Explanation: Key term definition—facilitating functions. Difficulty: 1 Easy Topic: Marketing Channels […]
978-1259924040 Test Bank Chapter 15 Part 1
Marketing, 14e (Kerin) Chapter 15: Managing Marketing Channels and Supply Chains 1) Eddie Bauer has the distinction of being one of the first companies to fully implement a “brick, click, and flip” strategy, which makes it a A) cross-channel marketer. […]
978-1259924040 Test Bank Chapter 14 Part 9
294) Predatory pricing is A) an arrangement a manufacturer makes with a reseller to handle only its products and not those of a competitor. B) the practice of charging different prices to different buyers for goods of like grade and […]
978-1259924040 Test Bank Chapter 14 Part 8
265) Which of the following statements about geographical adjustments to price is most accurate? A) In FOB origin pricing, the seller selects the mode of transportation. B) In FOB with freight-allowed pricing, the seller must pay for all transportation costs. […]
978-1259924040 Test Bank Chapter 14 Part 7
226) Reductions from list or quoted prices to buyers for performing some activity are referred to as A) allowances. B) subsidies. C) remittances. D) noncumulative deductions. E) list price deductions. Answer: A Explanation: Key term definition—allowances. Difficulty: 1 Easy Topic: […]
978-1259924040 Test Bank Chapter 14 Part 6
189) A reduction from the list price that a seller gives a buyer as a reward for some activity of the buyer that is favorable to the seller is called A) the pretax price. B) the list price. C) the […]
978-1259924040 Test Bank Chapter 14 Part 5
151) In 2016, Red Bull had a 38% dollar sales market share and a 33% unit volume market share. Its price premium for that year equaled A) −12.5%. B) −7.5%. C) −5.3%. D) 0%. E) 15.2%. Answer: E Explanation: A […]
978-1259924040 Test Bank Chapter 14 Part 4
112) The retail price of mobile phones (unsubsidized) has decreased from $4,000 in 1983 when Motorola commercialized the device, to less than $99 today as the volume increased from zero to millions of units sold. This is due in large […]
978-1259924040 Test Bank Chapter 14 Part 3
74) Yield management pricing refers to A) controlling the production of products based upon seasonal demand. B) deliberately selling a product below its customary price, not to increase sales, but to attract customers’ attention in hopes that they will buy […]
978-1259924040 Test Bank Chapter 14 Part 2
Figure 14-3 37) Figure 14-3 above shows a demand curve depicting which pricing approach? A) prestige pricing B) skimming pricing C) penetration pricing D) price lining E) reflexive pricing Answer: A Explanation: Prestige pricing involves setting a high price so […]
978-1259924040 Test Bank Chapter 14 Part 1
Marketing, 14e (Kerin) Chapter 14: Arriving at the Final Price 1) Amazon wanted lower retail prices for e-books to A) lower royalties to authors. B) eliminate distributors. C) raise prices overall for printed books. D) undermine its rival, Nook. E) […]
978-1259924040 Test Bank Chapter 13 Part 7
212) You are president of an electric appliances manufacturer. You want to reduce your break- even quantity. All things being equal, you can do this by A) increasing the quantity sold, while keeping price unchanged. B) reducing marginal revenue. C) […]
978-1259924040 Test Bank Chapter 13 Part 6
194) Tim Marlow, the owner of The Clock Works, wanted to know how many clocks he must sell in order to cover his fixed cost at a given price. Marlow knew that he had total fixed costs of $20,000 for […]
978-1259924040 Test Bank Chapter 13 Part 5
154) The percentage change in quantity demanded relative to the percentage change in price is referred to as A) price elasticity of demand. B) demand derivative of price. C) average demand. D) marginal revenue. E) derived demand. Answer: A Explanation: […]
978-1259924040 Test Bank Chapter 13 Part 4
120) Pure monopoly is the competitive market situation where A) many sellers follow market price for identical, commodity products. B) one seller sets the price for a unique product. C) few sellers compete, and are sensitive to one another’s prices. […]
978-1259924040 Test Bank Chapter 13 Part 3
80) A negative aspect of selecting unit volume as a pricing objective is that A) production often cannot keep up with demand. B) there are increased carrying costs with extensive inventories. C) if price reductions are used to achieve volume […]
978-1259924040 Test Bank Chapter 13 Part 2
40) ________ = (Unit price × Quantity sold) − Total cost. A) Total revenue B) Variable cost C) Net present value D) Profit E) Break-even point Answer: D Explanation: Key term definition—profit equation. Difficulty: 1 Easy Topic: Setting Prices Learning […]
978-1259924040 Test Bank Chapter 13 Part 1
Marketing, 14e (Kerin) Chapter 13: Building the Price Foundation 1) The largest U.S.-based TV maker is A) Sharp. B) Panasonic. C) LG. D) Sony. E) VIZIO. Answer: E Explanation: VIZIO, Inc., an entrepreneurial Irvine, California, company is the largest U.S.- […]
978-1259924040 Test Bank Chapter 12 Part 6
187) Airlines feature load factor as a ________ measure on their marketing dashboards. A) productivity B) price differentiation C) tangibility D) capacity management E) profitability Answer: D Explanation: Airlines feature load factor as a capacity management measure on their marketing […]
978-1259924040 Test Bank Chapter 12 Part 5
155) All of the following are true about the price element of services except which? A) Price can be referred to in a variety of terms. B) Price can affect consumer perceptions of the service. C) Price can be kept […]
978-1259924040 Test Bank Chapter 12 Part 4
116) The dimension of service quality called ________ is the ability to perform the promised service dependably and accurately. A) reliability B) assurance C) accuracy D) responsiveness E) empathy Answer: A Explanation: Consumers assess their expectations and experiences on five […]
978-1259924040 Test Bank Chapter 12 Part 3
79) Recently, many nonprofit organizations such as United Way, Greenpeace, Outward Bound, The Salvation Army, and the Girl Scouts A) were unable to use traditional marketing practices since they were 501(c)(3) organizations as classified by the IRS. B) thought that […]
978-1259924040 Test Bank Chapter 12 Part 2
41) The emergency room staff in Houston’s largest hospital is pleasantly surprised when a four- day Fourth of July weekend brings in few accident victims for treatment. They know from experience that such public holidays usually have high rates of […]
978-1259924040 Test Bank Chapter 12 Part 1
Marketing, 14e (Kerin) Chapter 12: Services Marketing 1) Based on marketing research with employees, customers, and hosts around the world, Airbnb developed its current strategy, which centers around A) providing free one-night stays as a way to hook discount travelers. […]
978-1259924040 Test Bank Chapter 11 Part 10
336) A written statement of manufacturer liability is referred to as a(n) ________ warranty. A) explicit B) functional C) implied D) strict-liability E) express Answer: E Explanation: Key term definition—express warranties. Difficulty: 1 Easy Topic: Warranties Learning Objective: 11-04 Describe […]
978-1259924040 Test Bank Chapter 11 Part 9
304) Private branding refers to a branding strategy in which a firm A) gives each product a distinct name when each brand is intended for a different market segment. B) uses different brand names for the same product across multiple […]
978-1259924040 Test Bank Chapter 11 Part 8
266) IKEA sells a portable workbench called the Fahrtfull. The product has many positive features, and in German or Swedish markets, the name describes the product’s features well (fahrt meaning travel). This brand name in the United States, however, may […]
978-1259924040 Test Bank Chapter 11 Part 7
228) A trademark refers to A) any word, device (design, sound, shape or color), or combination of these used to distinguish a seller’s products or services. B) the part of a brand that can be spoken. C) the part of […]
978-1259924040 Test Bank Chapter 11 Part 6
188) A strategy for managing a product’s life cycle that attempts to find new customers, increase a product’s use among existing customers, or create new use situations is referred to as A) market modification. B) product modification. C) product repositioning. […]
978-1259924040 Test Bank Chapter 11 Part 5
155) Which of the following quotes from a new-product adopter would signal the need for a firm to counteract a psychological barrier? A) “I feel self-conscious wearing this.” B) “What if I can’t make the monthly payments?” C) “I don’t […]
Chapter 11 In Terms Of The Diffusion Of Innovation Laggards Account For
117) When a product spreads through the population, it is called the A) extension of innovation. B) proliferation of innovation. C) open innovation. D) dispersal of innovation. E) diffusion of innovation. Answer: E Explanation: Key term definition—diffusion of innovation. Difficulty: […]
978-1259924040 Test Bank Chapter 11 Part 3
79) In the late 1950s and 1960s, television Westerns were extremely popular and included Gunsmoke, Bonanza, Wagon Train, and The Big Valley. When ratings declined as viewers’ tastes changed, production of them waned. The television Western was a product category […]
978-1259924040 Test Bank Chapter 11 Part 2
39) A company may choose a skimming strategy during the introduction stage of its product to help recover costs of development and to A) capitalize on the price insensitivity of early buyers. B) discourage competition from other manufacturers. C) ease […]
978-1259924040 Test Bank Chapter 11 Part 1
Marketing, 14e (Kerin) Chapter 11: Managing Successful Products, Services, and Brands 1) Which of the following statements about Gatorade is most accurate? A) The name Gatorade was chosen because as an energy drink it “got you out the gate—fast.” B) […]
978-1259924040 Test Bank Chapter 10 Part 8
264) Speed, or ________, is often vital in introducing a new product. A) perpendicular development B) time to market C) red tape cutting D) fast concepting E) delivery expediting Answer: B Explanation: Key term definition—time to market. Difficulty: 1 Easy […]
978-1259924040 Test Bank Chapter 10 Part 7
236) In the new-product development process, product ideas that survive the business analysis stage proceed to the ________ stage. A) market testing B) screening and evaluation C) business analysis D) development E) commercialization Answer: D Explanation: In the new-product development […]
978-1259924040 Test Bank Chapter 10 Part 6
196) One reason new products fail is that although most major corporations use a formal decision-making process, sometimes they fail to critically evaluate the progress along the way. This is why many firms have a ________ to ensure that problems […]
978-1259924040 Test Bank Chapter 10 Part 5
158) Mr. Clean is an antibacterial cleaning liquid for home use. If Procter & Gamble (P&G), the manufacturer of Mr. Clean, added Mr. Clean Magic Eraser Bath Scrubber to the Mr. Clean product line, it would be seen by P&G […]
978-1259924040 Test Bank Chapter 10 Part 4
120) During a recent shopping trip to Target, Carlie noticed that the store offered many Glad products, including many different types of trash bags and a large variety of food storage containers. For Glad, each of these two product groupings […]
978-1259924040 Test Bank Chapter 10 Part 3
80) Vivienne, a college student with limited financial resources, was considering the purchase of a new laptop. She visited several office supply and consumer electronics stores, searching for the lowest price on a reliable new laptop. She devoted a great […]
978-1259924040 Test Bank Chapter 10 Part 2
41) Business products are A) products organizations buy that assist in providing other products for resale. B) supplies necessary for the day-to-day operations of a business. C) ancillary services necessary for the operation of a business. D) products that are […]
978-1259924040 Test Bank Chapter 10 Part 1
Marketing, 14e (Kerin) Chapter 10: Developing New Products and Services 1) As Apple’s CEO, the late Steve Jobs orchestrated innovations that revolutionized five different industries. Which industry below is not one of them? A) music B) smartphones C) digital publishing […]
978-1259924040 Test Bank Appendix B
Marketing, 14e (Kerin) Appendix B 1) The ________ summarizes the profitability of a business firm for a specific time period, usually a month, quarter, or year. A) balance sheet B) annual report C) income statement D) assets-liabilities statement E) data […]
978-1259924040 Test Bank Appendix A Part 2
43) Which of the following does Paradise Kitchens consider a strength? A) many lower-quality, lower-price competitors B) lack the economies of scale of huge competitors C) importance of convenience to U.S. households. D) more households “eating out” and bringing prepared […]