Solaris works for a beverage company in the western part of the United States. Solaris’s
superiors ask him to chart the competitive environment as well as market trends on a
quarterly basis, and to forecast the company’s sales. Because he produces this
information once every few months, Solaris generally considers only short-term future
sales. Starting with the employees on the sales floor at the company’s distribution
centers, Solaris and his team gather sales projections and then work their way upward to
middle and top-level management, asking the respondents to estimate sales. Solaris is
then able to determine the sales forecast on the basis of this aggregate information.
Which of the following forecasting techniques is Solaris implementing?
a. Delphi technique
b. sales force composite
c. exponential smoothing
d. jury of executive opinion
e. survey of buyer intentions
The Robinson-Patman Act specifically prohibits:
a. imposing taxes on the products that are being exported to other countries.
b. earning excess profits, that is, more than the average for an industry.
c. price discrimination in sales to wholesalers, retailers, and other producers.
d. charging the same price to everyone for everything you sell.
An effective salesperson uses order-processing techniques to expand an existing
business relationship.
a. True
b. False
Which of the following is a combination of person, cause, and organization marketing?
a. Tiger Woods’ endorsement of Nike, a sports company and Accenture, a consulting
company
b. The Nobel Peace Prize for Al Gore for his work on global warming
c. UNICEF’s work to improve the living conditions of children across the world
d. Angelina Jolie’s role as a UN Goodwill Ambassador for refugees
_____ pricing refers to a pricing strategy in which marketers offer prices slightly above
cost to avoid violating minimum-markup regulations and to earn a minimal return on
promotional sales.
a. Competitive
b. Leader
c. Penetration
d. Psychological
National account selling technique is used by marketers to serve their largest and most
profitable customers.
a. True
b. False
A brand name must qualify for legal protection.
a. True
b. False
Selling by phone, mail, and electronic commerce is known as _____.
a. span of control
b. field selling
c. inside selling
d. order processing
e. virtual sales team
f. team selling
g. approach
h. creative selling
i. presentation
j. sales promotion
k. premium
l. coupon
m. network marketing
n. cold calling
o. expectancy theory
p. over-the-counter selling
q. missionary selling
r. relationship selling
s. push money
t. consultative selling
Starbucks recently faced criticism for changing the way consumers could earn free food
and beverage in its loyalty program. Originally, consumers could earn 1 star for each
purchase – regardless of dollar value spent. However, the new program ties the star
benefit to the dollar amount spent by a customer – rewarding those who spend more
with more points. The Star program is frequently utilized by Starbucks to entice its
members to return to the outlet. The company utilizes e-mail and in-app promotions to
maintain an loyal following. What type of segmentation is Starbucks utilizing with its
Star rewards program?
a. product-related
b. demographic
c. geographic
d. psychographic
Which of the following is true of a vertical strategic alliance created by firms in B2B
markets?
a. It is created among the firms at the same level of the supply chain.
b. It can only be formed between companies that serve different industry.
c. It is formed when firms that are at adjacent states in the supply chain.
d. It cannot be formed between two firms if their annual revenues are significantly
different.
Business and government purchasers often legally enter into contracts with favored
suppliers instead of using competitive bidding.
a. True
b. False
_____ is the largest metropolitan area in the world.
a. New York
b. Tokyo
c. Mexico City
d. London
Which of the following components of B2B market includes all individuals and firms
that acquire goods and services to support production of other goods and services?
a. Stock exchanges
b. Commercial markets
c. Governmental organizations
d. Financial institutions
Which of the following changes in the family lifecycle behavior is noted by researchers
in the past decade?
a. Young unmarried people buying new homes and expensive furnishings
b. Newly married people cooking almost every meal at home instead of dining out
c. “Boomerang” children returning home, sometimes with their own families
d. Parents with a second or subsequent child buying new sets of cribs, changing tables,
and so forth
As Tom begins his new sales job, he is looking forward to interacting with customers.
Tom’s strengths are in personal, one-to-one communication. Choose the type(s) of sales
channels that Tom probably hopes to use.
a. Online
b. Field
c. Over-the-counter
d. Telemarketing
e. Promotional
You’ve been promoted to head of social media. Now you must make assignments to
your team. Carol is a technology and software expert, while David has expertise in
communication. You should give David responsibility for all of the following except:
a. social media tools
b. blog postings
c. video shares
d. apps
e. social media platforms
Purchasing music from the Apple iTunes website is considered a high-involvement
purchase decision because music is a unique personal choice.
a. True
b. False
When the B2B market is segmented on the basis of product specifications issued by
buyers, it is known as _____ segmentation.
a. customer-based
b. end-use application
c. demographic
d. purchase category
The basic core values of a culture are highly dynamic and flexible.
a. True
b. False
A gaming corporation and a mobile manufacturer work together to develop unique
games which are made available on the applications of the phones. This is an example
of:
a. an exchange function.
b. marketing research.
c. social marketing.
d. a strategic alliance.
A large pharmaceutical company invents a very small device that can be implanted in
people with diabetes to provide timereleased amounts of insulin. A patent for this
invention will set up a temporary oligopoly for the company.
a. True
b. False
A person who is in charge of social media analytics is responsible for:
a. implementing a company’s entire social media program.
b. managing external engagement with customers in social media channels.
c. measuring the results of the social media marketing effort.
d. developing the program necessary to build and assemble the features for social tools
such as blogs and communities.
Which of the following is a market structure characterized by homogeneous products in
which there are so many buyers and sellers that none has a significant influence on
price?
a. Pure competition
b. Monopolistic competition
c. Monopoly
d. Oligopoly
Manufacturers engage in risk taking when they create goods and services based on
research and their belief that consumers need them.
a. True
b. False
Despite over a hundred million viewers every year watching the Super Bowl, the NFL
worries it is nearing market saturation in the U.S. So the NFL is scheduling
regular-season games at London’s storied Wembley Stadium. According to the
information given in this case, which of the following marketing strategies is being
used by the NFL?
a. Multidomestic marketing strategy
b. Societal marketing strategy
c. Global marketing strategy
d. Vertically integrated marketing strategy
Fred is a strategic analyst for a specialty retail store chain that sells sports apparel. He’s
working with the marketing team and is reviewing the _____ section of the social
media marketing plan which contains information about how other sports apparel stores
are using social media and the success of their efforts.
a. competitor analysis
b. executive summary
c. overview
d. goals and strategies
Nearly 80 percent of Americans today work in the service sector.
a. True
b. False
A sales forecast is an important tool for marketing control because it sets standards
against which actual performance can be measured.
a. True
b. False
_____ pricing is a pricing policy in which products are offered to consumers at less than
cost to attract them to stores in the hope that they will buy other merchandise at regular
prices.
a. Skimming
b. Loss leader
c. Odd
d. Variable
The planning process identifies objectives and determines the actions that are needed to
attain those objectives.
a. True
b. False