QUESTION 1

1. Your firm added three new products earlier this year to increase variety for customers.
Two of them failed to reach even minimal sales. Which of the following is LEAST likely to
have been the cause of their failure?

The products were priced too high.

The products were advertised incorrectly.

Competitors fought back harder than expected.

Research was too extensive.

The product launch was ill-timed.

5 points   
QUESTION 2
1. Bob and Phyllis Cords own two retail stores, one in Pottstown and one in Norristown.
Though the towns are only 40 miles apart, the consumers at both stores are very different
demographically. Bob and Phyllis alter the product offerings between both locations in an
effort to cater to both demographic groups. This is an example of ________.

local marketing

psychographic segmentation

micromarketing

demographic segmentation

A and C

5 points   
 QUESTION 3
1. You are an assistant marketing director for a firm in a market with many low-margin
customers. What type of relationship would it be most profitable for you to develop with
these customers?

full partnerships

basic relationships

basic partnerships

club programs

selective relationships

5 points   
QUESTION 4
1. Your firm has decided to localize its products and services to meet local market
demands. A good approach to use would be ________ segmentation.

geographic

benefit

end-use

customer

image

5 points   
QUESTION 5
1. Large business purchasers usually call for detailed product specifications, written
purchase orders, careful supplier searches, and formal approval. These are all examples of
how the business buying decision process is more ________ than the consumer buying
decision process is.

formalized

creative

relationship-oriented

independent

concentrated

4 points   
QUESTION 6
1. A quantity discount is a price reduction to buyers who purchase

frequently

large volumes

close outs

inferior merchandise

superior merchandise

4 points   
QUESTION 7
1. Instead of focusing on managing individual purchases, a seller should focus on
managing the ________.
 building a good reputation in the marketplace

organizational environment

use of blanket contracts

order-routine specifications

total customer relationship

4 points   
QUESTION 8
1. Build a better mousetrap and the world will beat a path to your door reflects the
________ concept.

production

marketing

selling

product

target marketing

4 points   
QUESTION 9
1. Customer-perceived value is determined by a customer's ________ of the benefits and
costs of a market offering relative to those of competing offers.

personal assessment
 rational expectations

accurate assessment

objective evaluation

emotional understanding

2 points   
QUESTION 10
1. Which major promotion category makes use of displays, discounts, coupons, and
demonstrations?

sales promotion

direct marketing

publicity

public relations

advertising

2 points   
QUESTION 11
1. In order to ________, wholesalers can propose automatic reordering systems, set up
management-training and advising systems, or even sponsor a voluntary chain.

define their target markets

identify more profitable customers

 determine product and service assortments

build better relationships with customers

settle on pricing

2 points   
QUESTION 12
1. Which of the following is NOT a potential reason for a new product to fail?

an underestimated market size

a poorly designed product

an incorrectly positioned product

higher than anticipated costs of product development

ineffective advertising

2 points   
QUESTION 13
1. The purpose of idea generation is to create a ________ number of ideas. The purpose
of succeeding stages is to ________ that number.

small number; reduce

small number; increase

large number; increase

large number; reduce

 limited number; sustain

2 points   
QUESTION 14
1. Most producers today sell their goods to

final users

final users and marketing members

intermediaries

the government at various levels

competitors

2 points   
QUESTION 15
1. The purpose of a training program for salespeople is to teach them about all of the
following EXCEPT

customers' buying habits

customers' buying motives

the company's main competitors

the company retirement benefits

the company's organizational structure

 2 points   
QUESTION 16
1. In which stage of the product life cycle are most products in the marketplace?

growth

decline

maturity

introduction

development

2 points   
QUESTION 17
1. Price escalation in international markets may result from four of these five marketing
conditions. Which one will have the LEAST effect?

the additional cost of physical distribution

exchange-rate fluctuations

market stability

higher costs of selling

language barriers

2 points   
 QUESTION 18
1. Business marketers often alert customers to potential problems and then show how
their products provide solutions. These marketers are hoping to influence which stage of the
business buying process?

general need description

alternative evaluations

problem recognition

order-routine specification

performance review

2 points   
QUESTION 19
1. The first step of the business buying process is ________.

general need description

alternative evaluations

problem recognition

order-routine specification

performance review

2 points   
QUESTION 20
1. In Vin del Mar, Chile, there are a dozen stores specializing in selling the same quality
of seafood products on one street. An individual store dare not charge more than the going
price without the risk of losing business to the other stores that are selling the fish at a
common price. This is an example of what type of market?

pure competition

monopolistic competition

oligopolistic competition

pure monopoly

socialist

2 points   
QUESTION 21
1. Which type of retailer tends to be the most frequently shopped?

convenience stores

department stores

superstores

supermarkets

off-price retailers

2 points   
QUESTION 22
1. Hybrid marketing systems are also called
 dual distribution systems

multichannel distribution systems

administered franchises

horizontal multichannel systems

contractual marketing systems

2 points   
QUESTION 23
1. People cannot focus on all of the stimuli that surround them each day. A person's
tendency to screen out most of the information to which he or she is exposed is called
________.

selective retention

selective distortion

selective attitude

selective attention

selective perception

2 points   
QUESTION 24
1. Which of the following is NOT a major category in a company's promotion mix?

sales promotion
 strategic positioning

direct marketing

public relations

advertising

2 points   
QUESTION 25
1. The company designs what it considers to be a good product, totals the expenses of
making the product, and sets a price that adds a standard mark-up to the cost of the product.
This approach to pricing is called

value-based pricing

fixed cost pricing

cost-plus pricing

variable pricing

skimming pricing

1 points   
QUESTION 26
1. These are sometimes several stores grouped together. These stores offer prices as low
as 40 percent below retail on a wide range of mostly surplus, discounted, or irregular items.

Category killers

Factory outlets
 Specialty stores

Superstores

Power centers

1 points   
QUESTION 27
1. A consumer organization, environmental group, or minority group has challenged
your firm's stand on a local issue. your firm is being challenged by a ________ public.

local

general

government

citizen-action

media

1 points   
QUESTION 28
1. A ________ consists of all the product lines and items that a particular seller offers
for sale.

product mix

brand line

consumer mix
 packaging mix

line extension

1 points   
QUESTION 29
1. ________ is the systematic design, collection, analysis, and reporting of data relevant
to a specific marketing situation facing an organization.

The marketing information system

Marketing intelligence

Marketing research

Competitive intelligence

Causal research

1 points   
QUESTION 30
1. Empire Products has begun a process to find the best suppliers. Empire Products is
actively engaged in ________.

value analysis

performances review

supplier search

supplier control
 supplier selection

1 points   
QUESTION 31
1. Which of the following is a reason for a company to raise its prices?

to address the issue of overdemand for a product

to win a larger share of the market

to use excess capacity

to boost sales volume

to balance out decreasing costs

1 points   
QUESTION 32
1. Personal selling is the least expensive tool in the marketing communications mix.

 True
 False

1 points   
QUESTION 33
1. ________ are people within a reference group who, because of special skills,
knowledge, personality, or other characteristics, exert influence on others.
 Opinion leaders

Habitual buyers

Social networkers

Stealth marketers

Buzz marketers

1 points   
QUESTION 34
1. If demand changes greatly with a small change in price, we say the demand is

variable

inelastic

value-based

elastic

fixed

1 points   
QUESTION 35
1. What is the term used to identify the individuals in a company who travel to call on
customers in the field?

product sales force

outside sales force

 inside sales force

complex sales force

customer sales force

1 points   
QUESTION 36
1. A company or store gains a(n) ________ by differentiating its products and delivering
more value.

competitive advantage

positioning advantage

cost advantage

efficiency advantage

synergy

1 points   
QUESTION 37
1. Which type of store is much larger than regular supermarkets and offers a large
assortment of routinely purchased food products, nonfood items, and services?

category killer

chain

factory outlet
 superstore

off-price

1 points   
QUESTION 38
1. All of the following are stages in the PLC EXCEPT

introduction

growth

maturity

adoption

decline

1 points   
QUESTION 39
1. Which of the following transportation modes is used for digital products?

trucks

rail

the Internet

air

ship
 1 points   
QUESTION 40
1. What are the two main types of research instruments used to collect primary data?

surveys and samples

questionnaires and mechanical devices

focus groups and online databases

online panels and experiments

personal interviews and online marketing research

1 points   
QUESTION 41
1. Which of the following is NOT an example of the type of public that is part of a
company's marketing environment?

financial

media

government

citizen-action

marketing department

1 points   
 QUESTION 42
1. All of the following are difficulties associated with selling to government buyers
EXCEPT ________.

considerable paperwork

bureaucracy

regulations

low sales volume

large group decision making

1 points   
QUESTION 43
1. ________ is(are) the most basic cause of a person's wants and behavior.

Culture

Brand personality

Cognitive dissonance

Societal factors

Selective perception

1 points   
QUESTION 44
1. For complex products personal selling is not recommended
  True
 False

1 points   
QUESTION 45
1. When a product enters the maturity stage, the company should consider

harvesting the product

modifying the product, market, or marketing mix

divesting the product

maintaining the product

dropping the product

1 points   
QUESTION 46
1. Any paid form of nonpersonal presentation and promotion of ideas, goods, or services
by an identified sponsor is called

sales promotion

advertising

direct marketing

personal selling
 public relations

1 points   
QUESTION 47
1. In the internationalization process, most firms work with an independent agent and
enter a nearby or similar country.

 True
 False

1 points   
QUESTION 48
1. Marketers must weigh carefully the costs of additional information against the
________ resulting from it.

organization

benefits

creativity

ethical issues

cost

1 points   
QUESTION 49
1. ________ are consumer products and services with unique characteristics or brand
identification for which a significant group of buyers is willing to make a special purchase
effort.

Shopping products

Unsought products

Specialty products

Industrial products

Line extensions

1 points   
QUESTION 50
1. Most large companies research ________ buying decisions to find out what they buy,
where they buy, how and how much they buy, when they buy, and why they buy.

market

permanent

consumer

social

group

1 points   
QUESTION 51
1. You are about to test hypotheses about decreasing sales in certain markets and their
causes. you are involved in what type of research?
 exploratory

descriptive

causal

focus group

ethnographic

1 points   
QUESTION 52
1. Markets can be segmented into groups of nonusers, ex-users, potential users, first-
time users, and regular users of a product. This method of segmentation is called ________.

user status

usage rates

benefit

behavior

loyalty status

1 points   
QUESTION 53
1. Which type of store carries a deep assortment, has knowledgeable staff, and might
actually be viewed as a giant specialty store?

category killer
 chain

factory outlet

shopping center

independent

1 points   
QUESTION 54
1. In the model of buyer-readiness stages, the first stage is

preference

knowledge

liking

awareness

insistence

1 points   
QUESTION 55
1. The demand for many business goods and services tends to change more, and more
quickly, than the demand for consumer goods and services does. This is referred to as
________ demand.

fluctuating

derived
 inelastic

elastic

supplier

1 points   
QUESTION 56
1. Arm's length price can be defined as

A price at which independent firms deal with each other

A price charged for different products of same company

Dumping tariff

None of the above