Reference no: EM131126289

PART 1

1. According to management guru Peter Drucker, "The aim of marketing is to ______________."
a. sell products
b. make selling unnecessary
c. set realistic customer expectations
d. identify customer demands
e. create customer demands

2. When marketers set low expectations for a market offering, they are most likely to run the risk of which of the following?
a. incorrectly identifying a target market
b. decreasing customer satisfaction
c. failing to attract enough customers
d. failing to understand their customers' needs
e. disappointing loyal customers

3. ______________ is the set of actual and potential buyers of a product.
a. An audience
b. A segment
c. A group
d. A market
e. An exchange

4. Consumer research, product development, communication, distribution, pricing and service are all most accurately described as core ______________ activities.
a. customer relationship management
b. marketing
c. production
d. exchange
e. management

5. The three areas of consideration that should be balanced in the societal marketing concept are consumer wants, society's interests and _______________.
a. want satisfaction
b. long-term needs
c. company profits
d. short-run wants
e. human welfare

6. The ultimate aim of customer relationship management is to produce _______________.
a. high current market share
b. high customer equity
c. a reliable database
d. steady sales volume
e. satisfied customers

7. The social-responsibility and environmental movements are expected to ______________ in the future.
a. move toward partner relationship management
b. move away from sustainable marketing
c. demand less from companies
d. move away from using social networking
e. demand more from companies

8. A church targeting different demographic groups to increase attendance is an example of _______________. a. ethics in marketing
b. mindless marketing
c. for-profit marketing
d. societal marketing
e. not-for-profit marketing

9. The first four steps of the marketing process focus on _______________.
a. creating value for customers
b. capturing value from customers
c. understanding the market
d. understanding customer demands and needs
e. delivering customer service

10. Disney is identifying and developing new markets for its theme parks. Disney is exploring possibilities for ________________.
a. diversification
b. market development
c. market penetration
d. downsizing
e. product development

11. Effective positioning begins with _______________ the company's marketing offer in order to give consumers more perceived value.
a. aligning
b. pricing
c. differentiating
d. placing
e. promoting

12. Which of the following measures the profits generated by investments in marketing activities?
a. marketing ROI
b. budgets
c. SWOT analysis
d. marketing audits
e. executive summaries

13. Monsanto operates in many businesses, including pharmaceuticals and food products. The company defines its _______________ as creating "abundant food and a healthy environment."
a. strategy
b. market development
c. mission statement
d. value-delivery network
e. business portfolio

14. Wal-Mart relies on sound relationships with its low-cost suppliers in order to pass low prices on to consumers; therefore, forming a _______________ is crucial to Wal-Mart's success.
a. customer relationship management policy
b. diversification strategy
c. market concept philosophy
d. growth-share matrix
e. value chain

15. Paul Pendergraff is evaluating each market segment's attractiveness and is in the process of selecting one or more segments for his firm's product to enter. What is Paul doing?
a. marketing
b. marketing segmenting
c. market positioning
d. market targeting
e. market penetrating

16. Favorite Memories specializes in serving market segments that major competitors overlook and ignore. Which of the following best describes Favorite Memories?
a. market seeker
b. market nicher
c. market challenger
d. market follower
e. full market coverer

17. Of the following, it is most important for marketers to develop ______________ for their products.
a. customer management organizations
b. market management organizations
c. marketing ROI data
d. unique market positions
e. marketing dashboards

18. Harris, the marketing manager at a small sports retail chain, has conducted a marketing analysis. He has investigated the company's internal resources and situational factors as well as factors and trends in the competitive sports retail chain market. Which of the following has Harris completed?
a. marketing mix
b. marketing plan
c. executive summary
d. SWOT analysis
e. business portfolio analysis

19. Which type of organization helps companies to stock and move goods from their points of origin to their destination?
a. financial intermediary
b. reseller
c. marketing service firm
d. physical distribution firm
e. supplier

20. The most important demographic trend in the United States is the ________________.
a. changing age structure of the population
b. changing structure of the family
c. slowing birth rate
d. mobility of the population
e. increasing growth in professional jobs

21. In the 1950s, the American population began shifting from large cities to _______________.
a. rural areas
b. foreign countries
c. farming communities
d. suburbs
e. coastal towns

22. A company or association's _______________ is designed to help guide responses to complex social responsibility issues.
a. code of ethics
b. core value system
c. discretion in enforcing regulations
d. cause-related marketing
e. privacy policy

23. Which of the following is NOT a potential source for marketing intelligence?
a. primary data
b. competitors' annual reports
c. competitors' products
d. competitors' sales data published in annual reports
e. discussions with purchasing agents

24. Ethnographic research _______________.
a. is gathered where people live and work
b. is most popular in the service sector
c. comes from traditional focus groups
d. provides secondary data
e. provides data to marketers when observation is impossible

25. Which of the following contact method is generally not very flexible?
a. personal interviewing
b. mail questionnaires
c. online panels
d. telephone interviewing
e. online surveys

PART 2

1. Facebook.com and YouTube are examples of ______________.
a. buzz marketing
b. virtual worlds
c. opinion leaders
d. social networks
e. early adopters

2. Maslow's theory is that _______________ can be arranged in a hierarchy.
a. stimuli
b. perceptions
c. decisions
d. human needs
e. beliefs and attitudes

3. The buying process starts with _______________, in which the buyer recognizes a problem or need.
a. need recognition
b. information search
c. evaluation of alternatives
d. separation of needs and wants
e. purchase decision

4. Which of the following is NOT a way that business and consumer markets differ?
a. satisfaction of needs through purchases
b. market structure and demand
c. decision process
d. nature of the buying unit
e. types of decisions

5. Marketers call the decision-making unit of a buying organization the ________________.
a. business buyer
b. buying system
c. buying center
d. business-to-business market
e. supplier-development center

6. The first step of the business buying process is ________________.
a. problem recognition
b. order-routine specification
c. supplier search
d. general need description
e. proposal solicitation

7. Generation Xers, who were born between 1965 and 1976, share the childhood experiences of higher parental divorce rates, recession and corporate downsizing. They tend to care about the environment and value experience over acquisition. Generation Xers make up a ______________.
a. social network
b. subculture
c. life-cycle stage
d. social class
e. lifestyle

8. You regularly purchase cleaning supplies for your custodial staff, using the same vendor and ordering relatively consistent amounts of the same products with each purchase. This is an example of a ________________ situation.
a. modified rebuy
b. straight rebuy
c. solution selling
d. new task
e. value analysis

9. What are the four steps, in order, to designing a customer-driven marketing strategy?
a. positioning, market segmentation, mass marketing and targeting
b. market alignment, market segmentation, differentiation and market positioning
c. market segmentation, geography, positioning and targeting
d. market recognition, market preference, market targeting and market insistence
e. market segmentation, targeting, differentiation and positioning

10. Through talking to numerous competitors at a regional trade show, you learn that most of them use the most popular base for segmenting markets. What is it?
a. behavioral
b. psychographic
c. demographic
d. lifestyle
e. geographic

11. Which of the segmenting strategies carries higher-than-average risks in consumer markets?
a. undifferentiated
b. mass
c. differentiated
d. concentrated
e. multiple-segment

12. As You Like It, Inc., customizes its offers to each individual consumer. This practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as _______________ marketing.
a. micro
b. niche
c. variable
d. mass
e. undifferentiated

13. _______________ marketing tailors brands and promotions to the needs and wants of specific cities, neighborhoods and even stores.
a. Local
b. Differentiated
c. Variable
d. Undifferentiated
e. Niche

14. Under what circumstances would local marketing likely be the most effective?
a. when pronounced, regional and local differences in demographics and lifestyles are present
b. when regional demographics and lifestyles are similar
c. when pronounced, differences in lifestyles are present
d. when pronounced, differences in psychographics are present
e. when pronounced, similarities in psychographics are present

15. Ad man Rosser Reeves believes that firms should develop a USP for each brand and stick to it. What does USP stand for?
a. unique selling product
b. unique services practice
c. unique selling proposition
d. universally strategic practice
e. unique sales pitch

16. ______________ is defined as the use of commercial marketing concepts and tools in programs designed to influence individuals' behavior to improve their well-being and that of society.
a. Internal marketing
b. Unsought product marketing
c. Interactive marketing
d. Person marketing
e. Social marketing

17. At the very least, the ______________ identifies the product or brand. It might also describe several things about the product and promote the brand.
a. label
b. social marketing
c. package
d. specialty product
e. line extension

18. The ______________ of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels or some other way.
a. consistency
b. length
c. width
d. perimeter
e. depth

19. Which of the following is an advantage offered by co-branding?
a. Advertising, sales, promotion and marketing must be carefully coordinated.
b. Retailers have exclusive products that cannot be purchased from competitors.
c. A company can expand its existing brand into a category it otherwise might have difficulty entering alone.
d. Manufacturers do not have to invest in creating their own brand names.
e. Brand equity is stabilized.

20. ______________ occurs when a company introduces additional items in a given product category under the same brand name such as new flavors, forms, colors, ingredients or package sizes.
a. Interactive marketing
b. A product mix
c. A line extension
d. Service intangibility
e. Service variability

21. A _____________ involves the use of a successful brand name to launch new or modified products in a new category.
a. brand symbol
b. line extension
c. private brand
d. product line
e. brand extension

22. Although test marketing costs can be high, they are often small when compared with _______________.
a. research and development costs
b. management's approval and acceptance
c. stockholders' confidence
d. the costs of a major mistake
e. the final results

23. Some products that have entered the decline stage have been cycled back to the growth stage through ________________.
a. customer-centered product development
b. innovation management
c. concept testing
d. business analysis
e. repositioning

24. All of the following are accurate descriptions of a style, EXCEPT which one?
a. Styles are basic and distinctive modes of expression.
b. A style has a cycle showing several periods of renewed interest.
c. Styles appear in home, clothing, and art.
d. Once a style is invented, it may last for generations.
e. Styles last only a short time and tend to attract only a limited following.

25. At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production and finance work in a cross-functional group to save time and money in the new product development process. Fantastic Flavors uses a(n) _____________ approach.
a. team-based new product development
b. innovation management system
c. sequential new product development
d. customer centered new product development
e. consumer composite

PART 3

1. _____________ is the amount of money charged for a product or service.
a. Price
b. Salary
c. Experience curve
d. Demand curve
e. Wage

2. Which of the following is a cost-based approach to pricing?
a. good-value pricing
b. value-based pricing
c. break-even pricing
d. going-rate pricing
e. both a and c

3. A challenge for management in product line pricing is to decide on the price steps between the ________________.
a. various products in a line
b. product mixes
c. product groupings
d. various target markets
e. product lines

4. By definition, this type of pricing is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differences in cost.
a. cost-plus pricing
b. reference pricing
c. variable pricing
d. segmented pricing
e. flexible pricing

5. When Circuit Town Electronics sets its televisions at three price levels of $699, $899 and $1,099, it is using ________________.
a. market-skimming pricing
b. market-penetration pricing
c. break-even pricing
d. target return pricing
e. product line pricing

6. Another term for the supply chain that suggests a sense-and-respond view of the market is ________________.
a. physical distribution
b. channel of distribution
c. supply and demand chain
d. distribution channel
e. demand chain

7. Hybrid marketing systems are also called _______________.
a. dual distribution systems
b. multichannel distribution systems
c. administered franchises
d. contractual marketing systems
e. horizontal multichannel systems

8. Marketing logistics involves getting the right product to the right customer in the right place at the right time. Which one of the following is NOT included in this process?
a. gathering customers' ideas for new products
b. controlling the physical flow of goods, services and information
c. planning the physical flow of goods and services
d. planning the flow of logistics information to meet customer requirements at a profit
e. implementing the plan for the flow of goods and services

9. Which of the following is NOT an area of responsibility for a logistics manager?
a. marketing
b. warehousing
c. purchasing
d. inventory
e. information systems

10. To reduce inventory management costs, many companies use a system called ______________, which involves carrying only small inventories of parts or merchandise, often only enough for a few days of operation.
a. limited inventory logistics
b. economic order quantity
c. just-in-time logistics
d. supply chain management
e. reduction-inventory management

11. Companies manage their supply chains through ______________.
a. transportation modes
b. information
c. skilled operators
d. the Internet
e. competitors

12. In designing its marketing channel, Chairs for Every Occasion has moved from a make-and-sell view of its business, which focused on productive inputs and factory capacity as a starting point for marketing planning, to a sense-and-respond view, which begins instead with the needs of target customers. With this new view, Chairs for Every Occasion is developing its ________________.
a. demand chain
b. logistics
c. vertical marketing system
d. wholesaler chain
e. supply chain

13. Which of the following is an example of a manufacturer-sponsored retailer franchise system?
a. licensed bottlers that bottle and sell Coca-Cola to retailers
b. fast-food restaurants such as McDonald's and Burger King
c. motels such as Holiday Inn and Ramada Inn
d. Starbucks operating within Target stores
e. Ford and its network of independent franchised dealers

14. Which product will most likely be exclusively distributed?
a. BMW cars
b. Prairie Farms yogurt
c. Bazooka bubble gum
d. Levi's blue jeans
e. Coca-Cola

15. Why is it important for manufacturers to be sensitive to the needs of their dealers?
a. Dealers have few legal rights.
b. Dealer support is essential to creating value for the customer.
c. Manufacturers cannot break commitments to channel members.
d. Poorly performing dealers will be replaced.
e. Dealers fail to provide value to the entire channel system.

16. UPS Supply Chain Solutions, which handles all of its clients' "grunt work" associated with logistics, is an example of ______________.
a. a distribution center
b. a third-party logistics provider
c. a cross-functional, cross-company team
d. selective distribution
e. integrated logistics management

17. ______________ sell standard merchandise at lower prices by accepting lower margins and selling higher volume.
a. Merchant wholesalers
b. Discount stores
c. Factory outlets
d. Full-service retailers
e. Limited-service retailers

18. ______________ includes all activities involved in selling goods and services to those buying for resale or business use.
a. Wholesaling
b. Retailing
c. Discounting
d. Franchising
e. Disintermediation

19. At Neiman Marcus, a first-class department store, customers shop for specialty products and have come to expect assistance in every phase of the shopping process. Neiman Marcus is a _________________.
a. self-service retailer
b. full-service retailer
c. specialty store
d. power center
e. limited-service retailer

20. A company's total marketing communications mix consists of a special blend of advertising, sales promotion, public relations, personal selling and direct-marketing tools that the company uses to communicate customer value and build customer relationships. This is also called ________________.
a. competitive marketing
b. the promotion mix
c. target marketing
d. direct marketing
e. integrated marketing

21. ________________ consists of short-term incentives to encourage the purchase or sale of a product or service.
a. A patronage reward
b. A segmented promotion
c. Advertising
d. Publicity
e. Sales promotion

22. Which promotional mix strategy directs marketing efforts toward final consumers?
a. pull
b. buzz
c. push
d. blitz
e. pulse

23. Which promotional mix strategy directs marketing efforts toward market channel members?
a. pull
b. pulse
c. push
d. blitz
e. buzz

24. _______________ becomes more important as competition increases. The company's objective is to build selective demand.
a. Informative advertising
b. Reminder-oriented advertising
c. Patronage advertising
d. Persuasive advertising
e. POP promotion advertising

25. Advertising media costs ________________ from country to country.
a. are usually comparable
b. are rarely negotiated
c. differ vastly
d. are impossible to compare
e. remain about the same

PART 4

1. When a firm sets out to analyze, plan, implement and control sales force activities, it is undertaking ________________.
a. marketing design
b. co-op selling and advertising
c. promotional objectives
d. team selling efforts
e. sales force management

2. Which activity is NOT typical for a sales assistant?
a. call ahead and confirm appointments
b. follow up on deliveries
c. determine price points
d. complete administrative tasks
e. answer customers' questions

3. Which of the following is NOT one of the four basic types of compensation plans?
a. straight commission
b. commission plus bonus
c. salary plus bonus
d. salary and commission
e. straight salary

4. Which sales management tool shows a salesperson which customers and prospects to see during the next 12 months and in which months, as well as which activities to carry out?
a. time-and-duty analysis
b. sales quota plan
c. annual call plan
d. sales force automation system
e. positive incentives plan

5. Management sets standards that state the amount each salesperson should sell and how sales should be divided among the company's products with ________________.
a. sales quotas
b. sales prospecting
c. sales incentives
d. sales contests
e. company quotas

6. Prospecting is the step in the selling process in which the salesperson _________________.
a. learns as much as possible about a prospective customer before making a sales call
b. meets the customer for the first time
c. tells the product's "value story" to the customer
d. identifies qualified potential customers
e. clarifies and overcomes customer objections to buying

7. The step that follows approach in the selling process is _________________.
a. qualifying
b. prospecting
c. closing
d. presentation and demonstration
e. handling objections

8. The salesperson meets the customer for the first time in the ________________ step of the selling process.
a. preapproach
b. prospecting
c. qualifying
d. presentation
e. approach

9. Which of the following is NOT an objective for trade promotions?
a. to get retailers to advertise a product
b. to get retailers to carry new items
c. to get salespeople to sign up new accounts
d. to gain more shelf space
e. to get retailers to carry more inventory

10. Which of the following is necessary for direct marketing to be effective?
a. a good customer database
b. use of new digital direct marketing technologies
c. inbound telephone marketing
d. a well-trained sales force
e. an online presence

11. Information about a customer's activities and interests are all ________________ in a customer database.
a. demographics
b. key contacts
c. assessments
d. psychographics
e. buying behaviors

12. Which of the following purposes is NOT a common use of a direct marketing database?
a. identifying prospective customers
b. profiling customers based on previous purchases
c. generating sales leads
d. gathering marketing intelligence about competitors
e. building long-term customer relationships

13. Catalogs, brochures, samples and DVDs are all examples of which type of marketing?
a. kiosk marketing
b. digital direct marketing
c. direct-mail marketing
d. direct-response marketing
e. online marketing

14. Using _________________ telephone marketing, marketers sell directly to consumers.
a. outbound
b. direct-response
c. inbound
d. business-to-business
e. opt-out

15. Ring-tone giveaways, mobile games and text-in contests are all examples of ________________ marketing. a. online
b. mobile phone
c. vodcast
d. iTV
e. podcast

16. The online exchange of goods and information between final consumers is called __________________.
a. C2B
b. B2B
c. C2C
d. B2C
e. social marketing

17. What does the term viral marketing mean?
a. It refers to problems that occur with viruses online.
b. It is another term for online security.
c. It is a system that allows a supplier to access a customer's inventory levels online.
d. It is the Internet version of word-of-mouth marketing.
e. It is another term for invasions of online privacy.

18. Which of the following is NOT a deception or fraud concern for Internet users and marketers?
a. phishing
b. viral marketing
c. access by unauthorized groups
d. eavesdropping
e. spyware

19. Of the following, a company should make which major decision about international marketing first?
a. deciding which markets to enter
b. deciding on the global marketing organization
c. deciding on the global marketing program
d. deciding how to enter the market
e. looking at the global marketing environment

20. Bias against bids made by American companies is an example of a(n) _________________.
a. exchange control
b. tariff
c. boycott
d. nontariff trade barrier
e. quota

21. Very few market opportunities are available in a(n) ________________ economy.
a. subsistence
b. emerging
c. industrializing
d. industrial
e. raw material exporting

22. Which type of business is LEAST likely to find it necessary to enter international markets in order to survive? a. automobile producers
b. clothing manufacturers
c. food distributors
d. chain retailers
e. small, local businesses

23. A ________________ gives the seller more presence and program control in the foreign market and often serves as a display center and customer service center.
a. straight product extension
b. market-centered company
c. sales branch
d. foreign licensing agreement
e. market niche

24. Which of the following is an advantage of licensing?
a. The licensing company enters the foreign market at little risk.
b. The licensee enters the foreign market at little risk.
c. The licensing company loses brand recognition.
d. The licensing company develops an understanding of how to market to the foreign country's consumers.
e. The licensing company has less control over the licensee than it would over its own operations.

25. Barriers to entry and predatory competition are both ________________ decisions made by marketers that may be called into question under the law.
a. channel
b. competitive relations
c. packaging
d. advertising
e. product