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Sam Doharty, a purchasing manager in Willard Groups of Companies, is currently
working with engineers and consultants to define the items to be purchased.
Additionally, Sam and his team are ranking the importance of reliability, durability, and
price desired in the items. In other words, they are preparing a(n) ________.
A) decision tree
B) supplier list
C) product proposal
D) order-routine specification
E) general need description
Most companies will compete with ________ rather than ________.
A) distant competitors; close competitors
B) close competitors; distant competitors
C) benchmarkers; distant competitors
D) market challengers; market followers
E) market challengers; market nichers
________ means marketing a product in a foreign market without making any changes
to the product.
A) Product adaptation
B) Product invention
C) Communication adaptation
D) Straight product extension
E) Product augmentation
With an expected increase in ethnic diversity within the American population,
marketers are most likely to place a greater emphasis on ________.
A) geographic segmentation
B) targeted advertising messages
C) mass marketing
D) "do well by doing good" missions
E) corporate giving
Service productivity can be increased by hiring new employees who will work harder,
by giving up some quality, or by ________.
A) using technology more effectively
B) outsourcing portions of the process to other firms
C) creating more self-serve opportunities for customers
D) reducing the number of products offered
E) increasing the price on some of the product line
According to the Boston Consulting Group approach, ________ serves as a measure of
company strength in the market.
A) relative market share
B) product development
C) market diversification
D) product attribute
E) market segmentation
A seller offers a ________ to trade-channel members who perform certain functions,
such as selling, storing, and record keeping.
A) functional discount
B) storage allowance
C) cash discount
D) promotional allowance
E) quantity discount
Home Depot and PetSmart are examples of ________.
A) factory outlets
B) warehouse clubs
C) superstores
D) off-price retailers
E) category killers
________ refer to members of the buying organization who help define specifications
and provide information for evaluating alternatives.
A) Gatekeepers
B) Influencers
C) Users
D) Deciders
E) Buyers
Communication through a telephone call is considered a part of a(n) ________
communication channel.
A) online
B) nonverbal
C) personal
D) nonpersonal
E) unidirectional
Until retailers ________ their markets, they cannot make consistent decisions about
product assortment, services, pricing, or advertising.
A) create
B) communicate with
C) divide up
D) define and profile
E) design products for
________ occurs when someone in the company identifies a need that can be met by
acquiring a specific product or service.
A) Solutions selling
B) Proposal solicitation
C) Problem recognition
D) Performance review
E) Real-time marketing
________ are those runner-up firms that are working to increase their market share in
an industry.
A) Market leaders
B) Market challengers
C) Market followers
D) Market mavens
E) Market nichers
Heart of Midnight sells blue orchids to major florists around the world. Their key
requirement is speed. Which of the following modes of transport will help them?
A) rail transport
B) air carriers
C) trucks
D) piggybacks
E) water transport
A public relations firm tailors its advertising and promotional services according to the
needs and preferences of specific customers. This exemplifies ________.
A) trigger-based marketing
B) mass marketing
C) segmented marketing
D) individual marketing
E) concentrated marketing
Overstock.com, a Web seller that buys furniture, clothing, electronics, and more from a
variety of producers at less-than-regular wholesale prices and then charges customers
less than retail, is a(n) ________.
A) specialty store
B) off-price retailer
C) factory outlet
D) wholesale club
E) category killer
A pastor from Kansas believes that adultery is immoral. This refers to the pastor's
________.
A) secondary belief
B) acquired belief
C) social identity
D) core belief
E) cultural orientation
Which of the following companies uses captive product pricing?
A) Photo Genie, which sells inexpensive cameras that run only on their own expensive
batteries
B) Go Zone, which launched a range of tablet models, each priced according to its
features
C) Penguin's Parlor, which offers customers a 20-percent discount on their birthdays
D) Sportsprint, which prices sports equipment according to customer evaluations
E) Burger Den, whose combo meals are priced lower than its individual components
sold together
In a(n) ________, executives are trained in worldwide operations, not just domestic or
international operations.
A) direct exporting company
B) joint venture
C) international division
D) international subsidiary
E) global organization
An invitation to go skiing over the weekend forced Donna to look at her current
wardrobe. She realized that she required a warmer coat. Which of the following stages
of the buyer decision process does Donna exemplify?
A) product evaluation
B) situational analysis
C) need recognition
D) problem screening
E) information search
An advantage of licensing to a company is that it ________, while the licensee gains
production expertise or a well-known product without having to start from scratch.
A) does not maintain the same level of control over product quality
B) must send employees to work with the licensee in training, selling, and distribution
C) might create a competitor
D) gains entry to a foreign market at little risk
E) requires significant financial investment
When companies set prices, the government and social concerns are ________ factors
affecting pricing decisions.
A) external
B) internal
C) economic
D) cultural
E) organizational
The physical environment affecting marketing activities is referred to as the ________
environment.
A) economic
B) natural
C) cultural
D) political
E) social
Which of the following is most likely an advantage of viral marketing?
A) Viral marketing reinforces consumers' attitudes about a brand.
B) Most messages are likely to "go viral."
C) Consumers want to be a part of viral marketing.
D) Viral marketing can easily be successfully accomplished.
E) Viral marketing produces engagement and positive exposure for a brand.
Which of the following shows the number of units the market will buy in a given time
period, at different prices that might be charged?
A) demand curve
B) supply curve
C) learning curve
D) break-even pricing
E) target costing
In this scenario, which of the following is representative of competitive marketing
intelligence?
A) formulating a research plan
B) collecting data about competitors
C) sending mail questionnaires to focus groups
D) creating competitive advantage
E) consolidating core competencies
Costs that change with the level of production are referred to as ________.
A) fixed costs
B) variable costs
C) target costs
D) total costs
E) overhead costs
Which of the following is true of public policies and pricing?
A) The government imposes no limits on intrastate pricing issues.
B) The Robinson-Patman Act governs interstate commerce.
C) Companies have free rein when it comes to setting prices.
D) The Sherman Act governs intrastate commerce.
E) The Clayton Act encourages the formation of monopolies.
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.
Which of the following is true with regard to gathering secondary data?
A) Gathering secondary data involves costly fees to government agencies.
B) Commercial online databases contain primary rather than secondary data.
C) Internet search engines can be useful sources of relevant secondary data.
D) It is illegal for firms to purchase secondary data from outside suppliers.
E) Secondary data eliminates the need for primary data in most cases.
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?"
Digital and social media's role in business-to-business marketing enhances all of the
following EXCEPT ________.
A) targeting individuals that affect buying decisions within the target businesses
B) facilitating anytime and anywhere connections between people at the selling and
buying organizations
C) giving sellers more control of and access to important information
D) meeting in person with customers at trade shows or conferences
E) giving buyers more control of and access to important information
