Unlike hedonic value, utilitarian value:
a. is a form of perceived value.
b. is obtained from products rather than services.
c. can be viewed as a means to an end.
d. can be enjoyed without making a purchase.
Scannerbased research is the process of researching brain patterns and measuring
certain physiological responses to marketing stimuli.
a. True
b. False
Which of the following refers to a purchase situation involving a personal, paidfor
communication between two people in an attempt to influence each other?
a. Personal selling
b. Sales promotion
c. Relationship selling
d. Promotional selling
When Lofonift Inc. introduced its flagship MP3 player, it captured the market by
offering the product at a very low price. This gradually forced many of its competitors
out of business. Once its competitors were out of business, Lofonift Inc. raised the
price. In this scenario, Lofonift Inc. most likely indulged in _____.
a. predatory pricing
b. price discrimination
c. status quo pricing
d. price fixing
Which of the following is true of U.S. businesses in the current globalized world?
a. Companies generally offshore to service providers located in countries with higher
labor costs but with proven technical expertise.
b. As fuel costs have risen and security issues become more prominent, many
companies have begun to relocate outsourced operations closer to home.
c. Nearshoring to locations such as Mexico or the Caribbean nations reduces supply
chain risk but leads to higher costs.
d. Nearshoringgives the supplier a chance to make its presence known at a local level
but locates manufacturing farther away from major demand centers.
A difference between Gen Yers and Baby Boomers is that, unlike Gen Yers, Baby
Boomers:
a. are currently in two different stages of the life cycle.
b. are the most techsavvy people yet.
c. outspend in categories such as gifts and medical care.
d. have a strong preference for full service restaurants
Magnira Inc. plans to implement a market penetration strategy to increase its market
share. According to Ansoff’s strategic opportunity matrix, which of the following
scenarios is most likely to happen?
a. It will try to attract new customers to its products.
b. It will try to increase its market share among existing customers.
c. It will create new products for its existing customers.
d. It will move away from its core capabilities and diversify its business.
When considering a product’s characteristics and the rate of adoption, complexity refers
to the degree to which a new product is ______.
a. difficulty to understand and use the new product
b. consistent with existing values
c. perceived as superior to existing substitutes
d. available to be tried on a limited basis
Which of the following is the originator of the message within the communication
process?
a. Sender
b. Message channel
c. Decoder
d. Receiver
Which of the following is correct about advertising appeals?
a. It is a series of related advertisements focusing on a common theme or slogan.
b. It identifies the specific communication task that should be accomplished for a
specified target audience during a specified period.
c. It is a form of advertising designed to influence demand for a specific brand.
d. Its development is typically the responsibility of the creative team.
As the product enters the maturity stage, prices generally begin to stabilize.
a. True
b. False
Customers are always skeptical about the reasons for retailer errors; however, their
reactions to mistakes such as product stockouts and unexpectedly poorquality products
are limited to casual indifference.
a. True
b. False
Remvault Dairies witnessed a steady decline in the sales of its products due to increased
competition in the local market. Remvault Dairies plans to adopt the market
development strategy. In this scenario, which of the following is the best step the
company can take to rejuvenate its financial losses?
a. Introduce new products into new markets.
b. Create new products for its present markets.
c. Attract existing customers rather than new customers.
d. Focus on promoting new uses for old products.
A component lifestyle refers to one in which consumers choose products and services
that conform to traditional demographic stereotypes.
a. True
b. False
Which of the following statements is true of clickandcollect?
a. It requires representatives to sell products doortodoor, in offices, or at inhome sales
parties.
b. It employs outbound and inbound telephone contacts to sell directly to customers.
c. It enables consumers to make their purchases online and pick up their orders from
physical stores.
d. It allows customers to shop over the Internet and have items delivered directly to
their doors.
Among the following, that which is given up in an exchange to acquire a good or
service is known as ______.
a. price
b. cost
c. margin
d. profit
The final step in creating a marketing mix is developing a thorough understanding of
the global target market.
a. True
b. False
_____ is the set of values, norms, attitudes, and other meaningful symbols that shape
human behavior and the artifacts, or products, of that behavior as they are transmitted
from one generation to the next.
a. Loyalty
b. Culture
c. Consumerism
d. Perceived value
Joiners are those social media users who read blogs, listen to podcasts, watch videos,
and generally consume media.
a. True
b. False
TJ Maxx, a discount apparel and home decor store, recently added an online retail
option. It cautiously promoted this online shopping outlet because the company was
concerned that online shopping might decrease instore sales. TJ Maxx wanted to
minimize ______.
a. microtargeting
b. brand cannibalization
c. retail mixing
d. retail channel omnification
Which type of media is based on is the traditional advertising model in which a brand
funds the media space?
a. Owned media
b. Earned media
c. Paid media
d. Unpaid media
Ebusiness—that is, the buying, selling, marketing, collaborating with partners, and
servicing customers electronically using the Internet—has not affected personal selling
very much.
a. True
b. False
Social networking sites such as Facebook, Instagram, and Twitter enable users to
immediately purchase items recommended by their social connections, a phenomenon
known as ______.
a. etailing
b. sharing economy
c. microtargeting
d. social shopping
Identify which statement is true of specialty products.
a. They are made directly available to a consumer through direct mail.
b. They are relatively inexpensive and merit little shopping effort.
c. They are easily substituted with other products.
d. They are distributed to only a few outlets in a geographic area.
Using the innovation matrix, the strategic decision to implement changes that use
existing assets to provide added convenience to existing customers and potentially
entice customers from other brands is considered:
a. a core innovation.
b. an adjacent innovation.
c. a transformational innovation.
d. a diversification strategy.
Mezzah Bros., a video store that sells DVDs and entertainment publications, stores its
products in separate warehouses. Moreover, it uses different modes of transportation to
deliver them to customers. This scenario illustrates the _____ functions of Mezzah
Bros.
a. transactional
b. research
c. logistical
d. financing
Which global brand name strategy is useful when the marketer wants the brand to
appear to be a local brand or when regulations require localization?
a. Onebrandname everywhere
b. Adaptations and modifications
c. Transactional marketing strategy
d. Different brand names in different markets
__________is a learned ability to differentiate among similar products such as different
brands of blue jeans.
a. Stimulus discrimination
b. Stimulus generalization
c. Selective perception
d. Selective discrimination
If an organization has an SBU that it believes has the potential to be a star (and is
probably a problem child at present), building would be an appropriate goal.
a. True
b. False
Which activity do flourishing companies consider as the launching point for building
relationships with customers?
a. Attracting new customers
b. Increasing business with existing customers
c. Retaining current customers
d. Offering generous discounts to all customers
The process that turns a marketing plan into action assignments and ensures that these
assignments are executed in a way that accomplishes the plan’s objectives is called
evaluation.
a. True
b. False
For a star, the best marketing tactic is to protect existing market share by reinvesting
earnings in product improvement, better distribution, more promotion, and production
efficiency.
a. True
b. False
