question

From a micro view, marketing

answer

is a set of activities performed by an individual organization to satisfy its customers

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Which of the following is one of the three basic ideas in the "marketing concept?"

answer

customer satisfaction

question

Trying to balance the interests of people who want to drink beer and the dangers of drunk driving is an example of:

answer

the macro-micro dilemma

question

According to the text, marketing means:

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much more than selling and advertising

question

The "universal functions of marketing" do NOT include:

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producing

question

The vertical marketing system that typically has the greatest amount of cooperation among channel members is a(n):

answer

Corporate channel system

question

A convenience product would probably be sold using:

answer

intensive distribution

question

Many firms prefer to distribute directly to the final customer or consumer because they

answer

all of the above

question

Which of the following is NOT a Place decision?

answer

Recruiting, selecting, and managing the sales force

question

"Logistics" is concerned with:

answer

All of the above

question

Public warehouses:

answer

provide flexibility because the user pays only for the space used

question

The first retailers to really show the importance of the mass-merchandising concept were the operators of:

answer

supermarkets

question

Which of the following are possible Internet approaches for a retailer?

answer

All of the above

question

The main difference between agent wholesalers and merchant wholesalers is

answer

that agent wholesalers do not own the products they sell--while merchant wholesalers do

question

Speciality shops:

answer

carry specialty products almost exclusively

question

Scrambled merchandising is carrying

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any product lines that a store thinks that they can sell profitably

question

"Retailing" refers to:

answer

the sale of products to final consumers

question

The adoption curve concepts is most closely related to which of the following?

answer

the product life cycle

question

"Adversing"

answer

is any paid form of non personal presentation of ideas, goods, or services by an identified sponsor

question

Personal selling

answer

involves direct spoken communication between sellers and potential customers

question

Identify the traditional communication process

answer

Source-Encoding-Message channel-Decoding-Reciever-Feedback

question

Which of the following shows the correct sequence of market acceptance of a new idea, as represented in the adoption curve?

answer

Innovators, early adopters, early majority, late majority, laggards

question

This promotional approach emphasizes the importance of securing the wholehearted cooperation of channel members to promote the product in the challen and to the final user

answer

pushing

question

The AIDA model consists of

answer

Attention, Interest, Desire, and Action

question

The "adoption curve" shows:

answer

when different groups accept ideas.

question

"Promotion" includes:

answer

personal/mass selling and sales promotion

question

A retailer's promotion objective might be to _______________its target market about its marketing mix.

answer

All of the above

question

The most popular sales force payment method is:

answer

a combination plan

question

Marketing managers should make specific strategy decisions about:

answer

All of the above

question

Which of the following is NOT one of the sales presentation approaches discussed in the text?

answer

Target market approach

question

Order getters

answer

are concerned with establishing relationships with new customers and developing new business

question

The ____________ involves developing a good understanding of the individual customer's

answer

consultative selling appoach

question

The commission method of payment:

answer

offers the most incentive for the salesperson

question

A _______________ is a written statement of what a salesperson is expected to do

answer

Job description

question

Which of the following is the BEST example of an advertising objective

answer

"We want 35 percent of our target customer to be aware of our new product within the next two months"

question

Advertising objectives should be:

answer

more specific than personal selling objectives

question

"Copy thrust" refers to:

answer

what is to be communicated by the words and illustrations

question

____________ advertising tries to develop primary demand for a product category rather than demand for a specific brand.

answer

pioneering

question

Competitive advertising which makes specific brand comparisons--using actual names--is ________________ advertising

answer

comparative

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All of the following are product-based advertising except

answer

institutional advertising

question

Selective the most effective advertising media depends on the:

answer

All of the above

question

To guarantee good media selection, the advertiser FIRST must clearly specify its

answer

target market

question

Advertising which tries to develop selective demand for a specific brand rather than a product category is called __________________ advertising

answer

competitive

question

The _______ type of competitive advertising points out product advantages to affect future buying decisions.

answer

indirect

question

Which of the following is a SALES-ORIENTED pricing objective?

answer

growth in market share

question

Trying to get the "cream" of a market (i.e., the top of a demand curve) at a high price before aiming at the more price-sensitive customers is consistent with a(n):

answer

skimming price policy

question

__________ is what a customer must give up to get the benefits offered by the rest of a firm's marketing mix.

answer

Price

question

A marketing manager may choose a pricing objective that is:

answer

any of the above--depending on the situation

question

Offering a CUMULATIVE quantity discount seeks to

answer

encourage the buyer to make additional purchases

question

Which of the following is a STATUS-QUO pricing objective?

answer

meeting competition

question

Some retailers commonly use prices that end in certain numbers. They seem to assume that their customers see prices with these numbers as substantially lower. This is:

answer

odd-even pricing

question

According to the text, the two basic approaches to price setting are

answer

cost-oriented and demand-oriented price setting

question

A retailer who advertises a low price on an item--with no intent to sell that item--but to attract customers to try to sell more expensive products is using:

answer

bait pricing

question

Setting relatively high prices to suggest high quality or high status is

answer

prestige pricing

question

Average fixed cost:

answer

decrease steadily as output increases

question

The text says "markups":

answer

are a percentage of selling price--unless otherwise stated

question

The production cost of an automobile component is $45. The producer takes a 10 percent markup and sells that product to the wholesaler. What is the wholesaler's cost?

answer

$50

question

Wilson sells a basketball to a wholesaler for $16, and the wholesaler applies to a 20 percent markup. A retailer then applies a 33.3 percent markup. The final selling price is

answer

$30

question

Michael Soles--owner of Soles Shoe Store--recently discovered that shoe stores in his trading area have an average markup of 40 percent. Upon investigation, Michael found that his average markup is $15 on shoes that he sells for $45. This suggests that:

answer

Michael is taking a smaller average markup than his competitors

question

The three basic tasks of ALL managers, according to the text, are:

answer

planning, implementation, and control

question

A breakthrough opportunity

answer

is one that helps an innovator develop a hard-to-copy marketing strategy that will be very profitable for a long time.

question

The marketing mix

answer

helps to organize the marketing strategy decision areas

question

A marketing strategy

answer

specifies a target market and a related marketing mix

question

In which of the external environments do changes usually occur most slowly?

answer

Cultural and social environment

question

General Electric's "strategic planning grid":

answer

requires subjective judgments about business strengths and industry attractiveness

question

Using General Electric's "strategic planning grid," an opportunity rated "medium" in terms of industry attractiveness and "medium" in terms of business strengths would be evaluated as:

answer

yellow--borderline

question

When looking for attractive opportunities, a marketing manager should consider

answer

All of the above

question

The total market value of goods and services provided in a country's economy per year by both residents and nonresidents of that country is:

answer

Gross domestic product

question

"Positioning":

answer

helps strategy planners understand how customers think about various brands or products in relation to each other

question

Segmenting:

answer

tries to aggregate together individuals who have similar needs and characteristics

question

The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable marketing mixes is called

answer

market segmentation

question

The text discusses a four-level hierarchy of needs. Which of the following is NOT included in that model?

answer

Psychological needs.

question

The whole set of beliefs, attitudes, and ways of doing things of a reasonably homogenous set of people is a(n):

answer

Culture.

question

Which of the following is NOT a psychological variable?

answer

Social class.

question

Behavioral scientists recognize different levels of consumer problem solving. Which of the following is not one of these levels?

answer

Rational problem solving.

question

Discretionary income is defined as:

answer

Income available after taxes and necessities.

question

An economic buyer is a person who

answer

Logically compares choices to get the greatest satisfaction from spending time and money.

question

Hugh Leastmoon has an annual income of $75,000 a year. He pays $25,000 in taxes, and spending another $15,000 on his home, car, food, and other "necessities." Last year, he decided to really enjoy his annual vacation so he spent $5,000 to go skiing in Austria. What was Hugh's discretionary income last year?

answer

$35,000

question

Which of the following is not a selective process used in gathering and interpreting information from the world around us?

answer

Selective attention.

question

Psychographics may also be called

answer

Lifestyle analysts.

question

Which of the following statements about social class is NOT true?

answer

In the U.S., the system for measuring social class is based mainly on a person's income.

question

A _____ refers to all of the people who participate in or influence a purchase.

answer

Buying center

question

Definitely Scrumptious Co. ,a cookie manufacturer, decides to expand into cake manufacturer, decides to expand into cake manufacturing. It begins the buying process for cake molds, toppings, and icing equipment by setting product specifications and evaluating sources of supply. This is an example of a

answer

New-task buy

question

Regarding "marketing reach" and "marketing information systems":

answer

Marketing information systems tend to increase the quantity of information available for decision making, but with some decrease in quality.

question

Quantitative marketing research

answer

All of the above are true.

question

Which of the following is the correct sequence of steps in the marketing research process?

answer

Defining the problem; analyzing the situation; getting problem-specific data; interpreting the data; solving the problem.

question

The scientific method

answer

Is an orderly and objective approach to judging how good an idea really is.

question

____ are educated guesses about the relationships between things or about what will happen in the future.

answer

Hypotheses

question

Procedures that develop and analyze new information to help marketing managers make decisions are called

answer

Marketing research

question

The most difficult step of the marketing research process is:

answer

Defining the problem

question

According to the text, "product":

answer

Means the need-satisfying offering of a firm.

question

A large U.S. firm produces potato chips, shortening, dishwasher detergent, laundry detergent, shampoo, disposable diapers, and facial tissues. These are the firm's

answer

Product assortment

question

Packaging

answer

All of the above are true.

question

Which of the following is NOT a level of brand familiarity?

answer

Brand nonexistence

question

Which of the following gives the correct order of the steps in the new-product development process?

answer

Idea generation, screening, idea evaluation, development, commercialization.

question

It is towards the end of the ____ stage of the product life cycle when industry profits begin to decline.

answer

Market growth

question

The product life cycle has four stages. Which of the following is not one of these?

answer

Economic competition

question

Regarding product life cycles, which of the following is NOT true?

answer

The level of promotion usually decreases in market maturity since there is less revenue to cover the cost.

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