The ________ limits the number of commercials aired during children’s programs.
A) Children’s Online Privacy Protection Act
B) Child Protection Act
C) Fair Packaging and Labeling Act
D) Children’s Television Act
E) Consumer Product Safety Act
Which of the following kind of organization best represents a contractual association
based on some unique product or service, a method of doing business, or a trade name
or goodwill?
A) corporate chain
B) franchise
C) voluntary chain
D) retailer cooperative
E) warehouse club
________ pricing involves charging higher prices on an everyday basis but running
frequent promotions to lower prices temporarily on selected items.
A) High-low
B) Everyday low
C) Cost-plus
D) Break-even
E) Penetration
When demand for athletic shoes produced by Nike and endorsed by Michael Jordan is
high, Nike limits how many pairs of shoes are manufactured. This action maintains
strong demand by limiting supply. This decision contradicts the philosophy of which
marketing concept?
A) marketing concept
B) product concept
C) production concept
D) societal marketing concept
E) selling concept
An ad for a new convection oven shows a busy professional woman using the
convection oven to cook dinner for her family. Which of the following message
execution styles is illustrated in this example?
A) testimonial evidence
B) slice of life
C) fantasy
D) scientific evidence
E) mood or image
________ is the most basic determinant of a person’s wants and behavior.
A) Culture
B) Brand personality
C) Cognitive dissonance
D) Motive
E) Attitude
Marketing communicators must be good at ________ messages that take into account
how the target audience ________ them.
A) delivering; encodes
B) sending; encodes
C) encoding; decodes
D) retrieving; perceives
E) decoding; receives
All of the following steps pertain to the marketing control process EXCEPT ________.
A) setting goals
B) measuring performance
C) taking corrective action
D) defining the company’s mission
E) evaluating the causes of gaps between expected and actual performance
Because of ________, a company cannot make its product illegally similar to a
competitor’s already established product.
A) anti-monopoly laws
B) patent laws
C) the Consumer Product Safety Act
D) product warranties
E) product liability
The main block of text in a print ad is referred to as the ________.
A) copy
B) testimonial evidence
C) headline
D) slogan
E) message strategy statement
Which of the following customer questions is answered by a company’s value
proposition?
A) “Why should I buy your brand rather than a competitor’s?”
B) “What is your company’s estimated customer equity?”
C) “What are the costs involved in the production of your brand?”
D) “What is the budget allocated by your company for research and development?”
E) “What is the financial stability of your company?”
Under ________, the market consists of many buyers and sellers who trade over a range
of prices rather than a single market price.
A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) a pure monopoly
E) the dominant firm model
In the audio equipment industry, Philips and Sony belong to the same ________.
A) target group
B) strategic group
C) experimental group
D) control group
E) focus group
A marketing plan begins with a(n) ________, which presents a brief summary of the
main goals and recommendations of the plan for management review.
A) budget
B) opportunity analysis
C) threat analysis
D) executive summary
E) action program
The total production costs at Kellner Machine Works are $87,000 out of which $45,000
represent fixed costs. Which of the following is representative of the variable costs
incurred by the company?
A) $35,000
B) $42,000
C) $45,000
D) $87,000
E) $132,000
Which of the following product mix pricing strategies involves pricing additional or
accessory products sold along with the main product?
A) inclusive product pricing
B) exclusive product pricing
C) by-product pricing
D) product bundle pricing
E) optional-product pricing
A particular firm added three new products earlier this year to increase variety for
customers. Two of the products failed to reach the minimal sales quota. Which of the
following is LEAST likely to have been the cause of their failure?
A) The products were priced too high.
B) The products were advertised incorrectly.
C) Competitors fought back harder than expected.
D) Product research was too extensive.
E) The product development costs were high.
A ________ contains between 15 and 50 retail stores, including a department or variety
store, a supermarket, specialty stores, professional offices, and sometimes a bank.
A) community shopping center
B) neighborhood shopping center
C) strip mall
D) regional shopping center
E) power center
Press conferences, speeches, store openings, special events, newsletters, and store
magazines are examples of ________ activities used by retailers to promote themselves.
A) public relations
B) sales promotions
C) personal selling
D) affinity marketing
E) social marketing
Henry Ford’s philosophy was to perfect the Model T so that its cost could be reduced
further for increased consumer affordability. This reflects the ________ concept.
A) product
B) production
C) selling
D) marketing
E) societal marketing
During which of the following stages of the business buying process is a buyer most
likely to conduct a value analysis by carefully studying components to determine if they
can be redesigned, standardized, or made less expensively?
A) proposal solicitation
B) general need description
C) order-routine specification
D) performance review
E) product specification
Departments or managers that have an influence on pricing include sales managers,
finance managers, accountants, and ________.
A) engineering managers
B) human resources managers
C) production managers
D) customers
E) resellers
Introducing a new product into the market is called ________.
A) test marketing
B) simulation
C) co-marketing
D) commercialization
E) segmentation
After creating a message strategy statement, the advertiser must develop a compelling
________ that will bring the message strategy to life in a distinctive and memorable
way.
A) creative concept
B) customer strategy
C) customer benefit
D) execution style
E) media vehicle
Ultra Tech Inc., a company manufacturing gardening tools, has decided to switch to a
territorial sales force structure. Which of the following benefits is the company most
likely to gain as a result of this decision?
A) The cost of training new recruits would be eliminated.
B) An increased focus on short-term customer relationships would boost local sales of
specialized products.
C) Each salesperson would be assigned to sell a single product in which he/she
specializes.
D) The capacity for mass production of a wide range of products would significantly
increase.
E) As each salesperson travels within a limited geographic area, travel expenses would
decline.
You own a neighborhood grocery store and would like to have non-food items
delivered, priced, displayed and inventoried by a wholesaler. You do not want to
purchase title to the goods. Which type of wholesaler best fits your needs?
A) cash-and-carry wholesaler
B) rack jobber
C) drop shipper
D) mail-order wholesaler
E) agents and brokers
Which of the following is the goal of the team-based new product development
approach when it uses cross-functional teams that overlap the steps in the process?
A) gain a big competitive edge by getting the right new products to market
B) save time and increase effectiveness
C) increase production efficiency and customer satisfaction
D) speed product distribution to market and reduce costs
E) reduce organizational tension and confusion
A company that uses well-known celebrities to help sell its products is using ________
marketing.
A) interactive
B) internal
C) social
D) person
E) organization
Which of the following contact methods is the most cost-effective?
A) telephone interviews
B) individual interviews
C) in-depth interviews
D) online surveys
E) group interviews
Overhead costs ________ as the number of units produced increases.
A) decrease
B) increase steadily
C) fluctuate
D) remain the same
E) increase rapidly
Which of the following is true with regard to brand equity?
A) Brand equity refers to how much consumers know about the brand.
B) High brand equity provides a company with many competitive advantages.
C) A brand has positive brand equity if consumers react less favorably to it than to an
unbranded version.
D) Positive brand equity derives from low brand esteem.
E) The total financial value of a brand can be easily measured.
________ involves gathering primary data by closely examining relevant people,
actions, and situations.
A) Observational research
B) Survey research
C) Telephone interviewing
D) Causal research
E) Group interviewing
Industrializing economies are also known as ________ economies.
A) emerging
B) raw material exporting
C) totalitarian
D) subsistence
E) capitalist
Which of the following is illustrated by an amateur 30-second video, developed by a
consumer, telling the story of the online crafts marketplace, Etsy.com?
A) personal selling
B) consumer-generated messages
C) consumer ethnocentrism
D) sales promotion
E) consumerism