Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
____________ is an intelligence system that helps managers assess their competition
and vendors to become more efficient and effective competitors.
a. Competitive intelligence
b. Research intelligence
c. Market intelligence
d. Market research
Which of the following is a price tactic that uses oddnumbered prices to connote
bargains and evennumbered prices to imply quality?
a. Onepart pricing
b. Price lining
c. Psychological pricing
d. Price skimming
Advertising, public relations, and sales promotion are generally impersonal, oneway
means of mass communication.
a. True
b. False
Given current demographics in the United States, Millennials:
a. are now greater in number than Baby Boomers.
b. spend the most on food than any other cohort.
c. have been the least affected by the Great Recession.
d. are less interested in technology than any other group.
Evaluating the quality of services before making a purchase is harder than evaluating
the quality of goods because, compared to goods, services tend to exhibit fewer ______
qualities.
a. experience
b. search
c. credence
d. intangible
Which of the following statements is true of geographic pricing for freight?
a. Freight absorption pricing is a tactic that requires a buyer to absorb the freight costs
from the shipping point.
b. Uniform delivered pricing divides the United States into segments or zones and
charges a flat freight rate to all customers in a given zone.
c. Postage stamp pricing is adopted when the marketing manager wants total costs to be
equal for all purchasers of identical products.
d. With basingpoint pricing, a seller designates a location as a basing point so that all
buyers are not charged the freight cost from that point.
Which of the following statements is true of lifestyle segmentation?
a. It divides people into groups based on their traits, attitudes, and habits.
b. It divides a market by the amount of product bought or consumed.
c. It divides people into market segments according to the benefits they seek from a
product.
d. It divides people into groups based on socioeconomic characteristics such as income
and education.
_____ is a form of advertising designed to influence demand for a specific brand.
a. Institutional advertising
b. Advocacy advertising
c. Competitive advertising
d. Pioneering advertising
_____ occurs when consumers feel that making the wrong decision might cause some
concern or anxiety.
a. Physiological risks
b. Financial risks
c. Social risks
d. Psychological risks
Saraz Inc., a leading brand of apparel, has several branches all over the country. The
company’s market research shows that teenagers do not choose their brand as often as
older age groups. Therefore, the company modifies some of its existing designs to
attract teens. In this case, the teenage group can be referred to as a _____.
a. subculture
b. social class
c. popular culture
d. reference group
Generally speaking, which of the following marks a product’s entry into the growth
stage of its life cycle?
a. Prices generally begin to destabilize.
b. Prices generally begin to stabilize.
c. Prices decrease rapidly as competition increases.
d. Prices decrease moderately as competition decreases.
Unlike consumerfocused salespeople, businessfocused salespeople
a. require customers to come directly to a retail store.
b. call on other companies to sell their products.
c. shorten the sales process time.
d. do not travel to customer locations.
Which statement is true of the developing and proposing solutions step in the personal
selling process?
a. Developing and proposing solutions is a step in the selling process that comes before
the final purchase transaction.
b. Customers are more likely to remember what salespeople say rather than how they
present themselves in their sales presentation.
c. Formal presentation is an ineffective tool to answering customer’s needs.
d. The quality of both the sales proposal and the sales presentation can make or break
the sale.
As part of the needs assessment, the consultative salesperson must know everything
about __________.
a. customers and their needs, but not necessarily the product or service
b. the product or service, but not necessarily the competition and potential impact
c. competitors’ companies and products, but not necessarily the customers and their
needs
d. customers and their needs, the product or service being sold, and the product’s
competition
Which of the following is true of returns management?
a. It allows the firm to recognize weaknesses in product design and/or areas for
potential improvement through customer feedback.
b. It adds additional costs to marketing and is a burden on the already strained
workforce in the customer relations department.
c. Handling returns creates a negative image as the company loses credibility for its
inability to deliver on what it claims to sell.
d. Granting customers the freedom to try products without being charged for returning
them ultimately reduces revenues for companies.
A(n) _________________ is a product that requires comparison shopping because it is
usually more expensive than a convenience product and is found in fewer stores.
a. shopping product
b. specialty product
c. unsought product
d. sought product
To initiate the customer relationship management (CRM) cycle, a company must first
a. identify its profitable and unprofitable customers.
b. capture relevant customer data on interactions and relationships.
c. understand the interactions with current customers.
d. identify customer relationships with the organization.
A(n) _____ is a retail business where the operator is granted a license to operate and
sell a product under the brand name of a larger supporting organizational structure.
a. chain store
b. independent retail store
c. franchise
d. factory outlet
Which of the following best defines markup pricing?
a. The cost of buying the product from the producer, plus amounts for profit and for
expenses not otherwise accounted for
b. The practice of marking up prices by 100 percent, or doubling the cost
c. A method of determining what sales volume must be reached before total revenue
equals total costs
d. The ability to change prices very quickly, often in real time
Which of the following is NOT correct regarding the practice of inshoring?
a. Rapid consumer product innovation has led to the need to keep production experts in
close proximity so that they can work together.
b. Expanding development and manufacturing timelines have contributed to inshoring.
c. Increased fuel and transportation costs associated with longdistance shipping has
given impetus to inshoring.
d. Rising wages in the developing world have made U.S. rates more competitive.
Which of the following best defines brand equity?
a. The value of a company or brand name
b. The elements of a brand that cannot be spoken
c. A name, term, symbol, design, or combination thereof that identifies a seller’s
products and differentiates them from competitors’ products
d. That part of a brand that can be spoken, including letters, words, and numbers
Which statement describes an element of sales promotion?
a. It is a longterm tool used by marketers.
b. It complements advertising by yielding faster sales responses.
c. It is allotted less marketing money than advertising.
d. It uses personal selling, advertising, and public relations.
A concentrated strategy can be disastrous for a firm that is not successful in its narrowly
defined target market.
a. True
b. False
Which of the following statements is true of the incomes of Baby Boomers in the
United States?
a. Baby Boomers accumulated little amount of savings over their working years.
b. Baby Boomers’ purchasing power is discretionary and guided by their parents.
c. Baby Boomers’ current incomes are relatively low because many have retired.
d. Baby Boomers’ does not get retired at their specific retirement ages.
Which of the following is true about an implied warranty?
a. An implied warranty is a written guarantee.
b. An implied warranty gives a guarantee of quality in the form of a simple statement.
c. Implied warranty documents can be written in technical language guaranteeing
complete satisfaction.
d. All sales have an implied warranty under the Uniform Commercial Code.
Some metrics like awareness, engagement, and conversion are useful for _____.
a. increasing the success of a social media campaign
b. just building visibility on social media
c. gauging the pulse of the end customer
d. attracting traffic of suppliers to the website
A cell phone manufacturing company is said to functionally modify one of its products
if it:
a. introduces a sleek and stylish version of the cell phone with the same specifications.
b. reduces the price of the cell phone ahead of a sale.
c. introduces stylish headphones for the cell phone.
d. releases a software update to fix the cell phone’s overheating problem.
________________ is the number of product lines an organization offers.
a. A product item
b. The product mix
c. The product mix width
d. The product line depth
Which statement is true of implementing a task force?
a. Authority is equally vested in each of its members.
b. A task force is established to accomplish a single goal or mission.
c. It works independently of a specific deadline.
d. It is primarily used for strategic planning rather than for implementing marketing
plans.
Lauren buys groceries every month from Walmart and rarely does much research on the
products she buys. What is the marketing term for this type of consumer behavior?
a. Emotional involvement
b. Enduring involvement
c. Routine response behavior
d. Extensive decision making
Define innovation and discuss its importance and current approaches that companies
use to stimulate it.
Discuss the effects of advertising on consumers
Discuss the importance of understanding consumer behavior.
Define what is meant by sales promotion and identify two types of sales promotions
that target two distinctly different markets. Discuss who offers the promotion, who
benefits from it, and how sales promotion is cheaper than advertising.
Why is it important to maintain service quality in service industries? Explain the four
areas that service distribution should focus on to maintain the quality of service.
Discuss crisis management and provide examples to support how marketers manage
unfavorable publicity during a crisis.
Discuss how the everchanging marketplace influences marketing research and include
examples.
How does a multinational corporation meet the needs of the global market?
Explain how virtual worlds and online gaming help marketers to engage with
customers. Briefly discuss current trends in online gaming.
Differentiate between major equipment and accessory equipment.
Describe the role of resellers who comprise one the major categories of business
customers.
Discuss how inflation and recession affect the economic environment.
Define elasticity of demand and discuss the factors that affect elasticity.
What are the advantages of Mcommerce? Why is it important?
Discuss the factors that determine the nature of an ethical decision.
Explain the concept of a marketing mix and why firms must alter their marketing mix.
Discuss product mix width and product line depth and how they are relevant for
marketers.
Identify and describe the three levels of ethical development.
