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Under ________, buyers share sales and inventory information directly with key
suppliers who monitor and replenish the buyer's stock automatically as needed.
A) supplier selection
B) proposal solicitation
C) general need specification
D) vendor-managed inventory
E) procurement
The relationship between the consumer's expectations and the product's ________
determines whether the buyer is satisfied or dissatisfied with a purchase.
A) perceived performance
B) brand personality
C) market reach
D) consumer market
E) market share
Which of the following plays the most important role in government buying?
A) price
B) product differentiation
C) advertising
D) personal selling
E) customer relationship management
Advantages of direct and digital marketing for sellers include all of the following
EXCEPT ________.
A) low cost
B) efficiency
C) speed
D) need for sales training
E) flexibility
When Heinz introduced EZ Squirt packaging and new colors such as Blastin' Green and
Awesome Orange to revitalize consumer buying, the company was modifying the
________.
A) market
B) pricing strategy
C) distribution
D) product
E) competition
Which of the following involves adjusting prices to account for the physical location of
customers?
A) location-based pricing
B) geographical pricing
C) domestic pricing
D) interior pricing
E) captive pricing
Retailers are classified on characteristics including the amount of service they offer, the
breadth and depth of their product lines, how they are organized, and ________.
A) the relative prices they charge
B) the number of locations they have
C) the strength of their Internet presence
D) their sustainability and environmental policies
E) the stability of their financial situation
In which stage of the business buying process does the buyer contact suppliers for bids?
A) general needs description
B) product specification
C) supplier search
D) proposal solicitation
E) order-routing specification
________ refers to the stage of the business buying process in which the buying
organization decides on and specifies the best technical product characteristics for a
needed item.
A) Performance review
B) General needs description
C) Product development
D) Proposal solicitation
E) Product specification
Geller Insurance calls qualified prospects to sell insurance. Which of the following
forms of marketing is evident from this example?
A) catalog marketing
B) kiosk marketing
C) direct-response television marketing
D) telemarketing
E) direct-mail marketing
When a seller requires its dealers to abstain from handling competitors' products, it is
called ________.
A) subjective distribution
B) exclusive dealing
C) selective distribution
D) exclusive pricing
E) disintermediation
________ involves planning, implementing, and controlling the physical flow of goods,
services, and related information from points of origin to points of consumption to meet
customer requirements at a profit.
A) Advertising
B) Product positioning
C) Mass customization
D) Marketing logistics
E) Branding
Companies may want to downsize their business portfolios for all but which of the
following reasons?
A) The firm may have grown too fast.
B) The firm may have entered areas where it lacks experience.
C) The customers may have purchased all they need.
D) The market environment might change.
E) The products might simply age.
Which of the following statements is true regarding competitive marketing intelligence?
A) The advantage of using competitive marketing intelligence is negligible.
B) The goal of competitive marketing intelligence is to improve recruiting efforts.
C) Competitive marketing intelligence relies upon costly internal databases.
D) Competitive marketing intelligence relies upon publicly available information.
E) Companies using competitive marketing intelligence routinely ignore consumers'
online chatter.
Which of the following is a portfolio-planning tool for identifying company growth
opportunities through market penetration, market development, product development,
or diversification?
A) BCG matrix
B) analysis of variance
C) product/market expansion grid
D) Harris matrix
E) SWOT analysis
When performing a break-even analysis, the manufacturer should consider all of the
following EXCEPT ________.
A) probable demand
B) likely profits
C) competitors' pricing
D) estimated break-even volumes
E) different prices
Market leaders can expand the market by ________ and more usage of the product.
A) identifying competitors
B) initiating monopolistic practices
C) developing new users
D) ensuring users adhere to higher standards
E) initiating new rules for product users
Your state's department of education has budgeted a significant amount of money for a
radio, print, television, and online advertising campaign emphasizing the long-term
benefits, both educationally and professionally, of reading every day. This is an
example of a(n) ________ campaign.
A) ambush marketing
B) social marketing
C) inbound marketing
D) consumer-generated marketing
E) affiliate marketing
One look at a Pedigree ad or a visit to the Pedigree.com Web site confirms that the
people behind the Pedigree Brand really do believe the "We're for dogs" mission.
Associates are even encouraged to take their dogs to work. To further fulfill the "We're
for dogs" brand promise, the company created the Pedigree Foundation, which along
with the Pedigree Adoption Drive campaign, has raised millions of dollars for helping
"shelter dogs" find good homes. This information indicates that Pedigree is practicing
________.
A) consumerism
B) environmental sustainability
C) a sustainability vision
D) innovative marketing
E) sense-of-mission marketing
________ allowances are price reductions given for turning in an old item when buying
a new one.
A) Promotional
B) Trade-in
C) Depreciation
D) Segmented
E) Functional
Bruno Servers has decided to decrease its prices on its popular higher-range servers.
The company can reasonably expect ________ to increase.
A) fixed costs
B) variable costs
C) demand
D) additional value
E) overhead costs
Which of the following is true of changes in the organization of distribution channels?
A) Developing new channels seldom causes conflict with a company's established
channels.
B) To remain competitive, product and service producers must use fewer marketing
channels.
C) The growth of the Internet threatens many brick-and-mortar companies with
disintermediation.
D) Companies have fewer channel options today than they did in the past due to
economic problems.
E) Advances in technology have decreased the number of channels available to
entrepreneurial firms.
Which of the following exemplifies a pure competitive market?
A) a market where many buyers and sellers trade over a range of prices rather than a
single market price
B) a market where a single firm controls the larger fraction of the market share
C) a market where a few powerful firms control the larger fraction of the market share
D) a market characterized by only a few large sellers
E) a market where many buyers and sellers trade in a uniform commodity
News conferences, press tours, and grand openings are examples of ________, a type of
tool commonly used by public relations professionals.
A) public service activities
B) special events
C) social networking
D) development
E) investor relations
________ is the systematic collection and analysis of publicly available information
about consumers, competitors, and developments in the marketing environment.
A) Data warehousing
B) Competitive marketing intelligence
C) SWOT analysis
D) Ethnographic research
E) Customer relationship management
Which of the following statements is true of the new product development process?
A) The purpose of the idea screening stage is to create a large number of ideas.
B) Under the business analysis stage, if the new product satisfies the company's
objectives, the product then moves to the product development stage.
C) A product concept is the way consumers perceive an actual or potential product.
D) The concept testing stage is the stage at which the product and its proposed
marketing program are introduced into realistic market settings.
E) Commercialization is the process of inviting broad communities of people such as
customers, employees, and scientists into the new product innovation process.
GamaPix makes point-and-shoot cameras and handycams for amateur photographers
and hobbyists. It also has a separate line of cameras dedicated to professional
photographers. Additionally, it designs separate offers for each segment. Which of the
following marketing strategies does GamaPix most likely use in this instance?
A) mass marketing
B) differentiated marketing
C) individual marketing
D) local marketing
E) direct marketing
________ consists of short-term incentives to encourage the purchase of a product or
service.
A) Value selling
B) Conditional sale
C) Advertising
D) Sales promotion
E) Benchmarking
Yummy Peanut Butter created a new coconut-flavored peanut butter that it tested in a
small number of representative cities. The company plans to use the results to forecast
national sales and profits. Which of the following did the firm use?
A) controlled test markets
B) simulated test markets
C) standard test markets
D) ambush marketing
E) affinity marketing
Before calling on a prospect, the salesperson should learn as much as possible about the
organization and its buyers. This step is known as ________.
A) preapproach
B) closing
C) approach
D) presentation
E) prospecting
