Tiffany, Rolex, Gucci, and Prada represent exclusivity, meaning their prices are mostly
inelastic.
a. True
b. False
The goal of content marketing is to drive the target audience toward a desired action.
a. True
b. False
In the context of the consumer diffusion process, “_____” constitute the final group of
consumers that make trial purchases of a new product.
a. innovators
b. late majority
c. early purchasers
d. laggards
Which of the following terms represents transporters that provide service solely for
internally generated freight?
a. Common carriers
b. Contract carriers
c. Private carriers
d. Regional carriers
According to psychologist Kurt Lewin, understanding consumer behavior is facilitated
by an understanding of the two key factors of:
a. learning levels and group power.
b. psychological makeup and inputs from others.
c. attitudes and perception.
d. reference groups and group norms.
Which of the following types of personal selling relies on lists of family members and
friends of the salesperson who organizes a gathering of potential customers for an
in-home demonstration of products?
a. Missionary selling
b. Cross-selling
c. Network marketing
d. Inbound marketing
Which of the following can the marketing team track through the company’s website?
a. age
b. lifestyle
c. how often consumer shops
d. number of clicks on the site
e. number of direct sales as a result of ads on site
The distribution channels in consumer markets are relatively shorter compared to those
in business markets.
a. True
b. False
The government’s Do Not Call Registry that helps consumers to avoid telemarketing
calls exempts callers who represent:
a. financial institutions.
b. notforprofit organizations.
c. service companies.
d. insurance companies.
A marketing mix should be an everchanging combination of variables to achieve
success.
a. True
b. False
A blog posting, such as a Tweet, that contains only a few words is called a(n) _____.
a. moblog
b. microblog
c. splog
d. edublog
A marketer responsible for an individual product or product line is called a(n) _____.
a. trade dress
b. brand preference
c. brand insistence
d. generic product
e. family brand
f. brand equity
g. product diversification
h. trademark
i. brand extension
j. consumer innovator
k. brand name
l. private brand
m. brand manager
n. universal product code (UPC)
o. cannibalization
p. product liability
q. captive brand
r. brand mark
s. line extension
t. label
Which of the following statements is most likely to be true about a convenience
retailer?
a. It offers huge selections and low prices in single product lines.
b. It appeals to customers by having an accessible location, rapid checkout, extended
store hours, and adequate parking.
c. It combines carefully defined product lines, services, and reputations in attempts to
persuade consumers to expend considerable effort to shop at their stores.
d. It offers a complete array of services to its customers.
Marketing intelligence refers to the sum total of information related to a firm’s markets.
a. True
b. False
Companies should apply caution and commonsense when making their products
available for sale via the Internet. Which of the following products would be most
likely to be sold using the Internet?
a. sports apparel
b. pointofpurchase computer system for a restaurant
c. prescription bifocal glasses
d. leaded glass window for a church
Personal selling and advertising are part of the marketing activities involved in a sales
promotion.
a. True
b. False
Social media marketing differs from traditional marketing in that social media
marketing:
a. seeks to control the content and message received by the audience.
b. focuses mainly on promoting the company outright, rather than building credibility
among customers.
c. covers all forms of media including print media and television commercials.
d. solicits the audience’s participation in the message.
The term ‘bottom line’ is a reference to:
a. overall company profitability.
b. a firm’s social responsibility.
c. the limits on marketing budgets.
d. the ethical and social viability of marketing.
Advertising is an important component in the marketing mix for accessory equipments.
a. True
b. False
The Metrics Group is a firm that helps companies improve the performance of their
websites. The firm rates the effectiveness of the website based on the percentage of
website visitors making purchases through the site. Which of the following measures is
being used by the firm while assessing the effectiveness of the websites?
a. Clickthrough rate
b. Brand awareness
c. Conversion rate
d. Customer engagement
If consumers search for information about a product online and then buy it from a
brickandmortar store, it is known as reverse logistics.
a. True
b. False
Which of the following inventory practices seeks to boost efficiency by cutting
inventories to absolute minimum levels?
a. Inventory bounce
b. Just-in-time policy
c. Stock obsolescence
d. Perpetual inventory management
Dmitri recently opened a sporting goods store. There are several other sporting goods
stores in his town, all of which have been open for several years. These rival businesses
offer reasonably priced goods as well as such “extras” as appointments with equipment
consultants, in-house equipment personalization, and special ordering of items not
included in the regular store inventory. Dmitri knows that he needs to make his new
business stand out if it is going to compete successfully with the established businesses.
According to the wheel of retailing, what strategy would help Dmitri gain a foothold for
his business in the local sporting goods market?
a. offer a service that none of his rivals offer
b. offer limited services and lower prices than his rivals
c. offer the same services as his rivals and lower his prices
d. offer exactly the same product prices and services as his rivals
e. offer products and services that are slightly different from those of his rivals
Adam, a purchasing agent for an automobile manufacturer, is making a list of payroll
services suppliers available in the market. In which stage of the organizational buying
process is Adam?
a. Recognizing a problem or opportunity
b. Determining the characteristics and quantity of the needed service
c. Describing the characteristics of the needed service
d. Searching for and qualifying potential sources
Colleges and universities, and other notforprofit institutions play major roles in the
development of new technology.
a. True
b. False
You work for a television network that needs to advertise a new fall season show.
Because of the show’s content, you want to market to college students and young
professionals. You decide that since the show is going to be introduced in October of
the following year, it would be good to start with billboards and ad placements on
buses, bus shelters, trains, and in subway stations. You know that new shows typically
debut in the fall, so you do some research and notice that your rival network also has a
new show lined up for the fall. You want to make sure that you are not targeting the
same markets. By the spring of the following year, you are going to introduce television
commercials, social marketing, and online ads. By this point, national newspapers are
impressed with the show and write op-ed pieces about the new show.
Which of the following aspects of media scheduling is missing from the scenario?
a. sales patterns
b. target markets
c. repurchase cycles
d. public relations
e. competitors’ activities
Market segmentation plays a very important role in developing a marketing strategy.
Select the best definition of market segmentation from the choices below.
a. dividing the total available market into smaller, similar groups
b. dividing the company profits for distribution among shareholders
c. dividing the marketing budget that will be used in world markets and in the United
States
d. dividing the workload among marketing department employees
e. dividing the total market into two distinct groups, the global market and the U.S.
market
For a past few months H&S Products has been involved in intensive price competition
with its competitors for one of its products. A shift in consumer preferences is resulting
in a decrease in sales. Profits are low and market researchers are concerned that losses
will soon occur due to a decrease in the size of the market for the product. This product
appears to have reached the _____ stage of the product lifecycle.
a. introductory
b. maturity
c. decline
d. growth
The price reduction offered to a customer, business user, or marketing intermediary in
return for prompt payment of a bill is called a _____ discount.
a. functional
b. trade
c. quantity
d. cash
A price is the exchange value of a good or service.
a. True
b. False
Basic so-called fighting brands are intended to capture market share from lower-priced
competitors by offering relatively high quality products at comparatively higher prices.
a. True
b. False
What is electronic data interchange? What are its applications?
Define publicity. Explain its role in a firm’s promotional strategy.
What is countertrade? Why would a country choose to countertrade?
Differentiate between offshoring and nearshoring. Which countries are preferred for
these operations?
Discuss the ISO certification.
Define homeshoring. What are its advantages? Give some examples of U.S. companies
that practices homeshoring.
Describe the market share/market growth matrix.
What are the different ways in which firms can extend a product’s lifecycle? Explain
any one of them.
Distinguish between an organization’s mission and its objectives. Provide an example
of each.
What is the European Union? What are its goals?
Define category killers. Give an example.
Explain the VALS segmentation system.
Who are opinion leaders? Why are they important to marketers?
Discuss the two categories of channel conflict. Give an example of each.
What are subcultures? Why should marketers pay attention to subcultures?
What is Internet retailing? How has the Internet enhanced the functions of the direct
marketers?
Differentiate between a manufacturer’s brand and a private brand. Give examples for
each.
Describe the World Trade Organization (WTO). Discuss its role and policies in
regulating trade barriers.
Discuss the five benefits emarketing offers to contemporary marketers.
What is bundle pricing? Give an example.
