BUAD301 – Practice Quizzes – Flashcards
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All of the following should be determined by the marketing department of a firm EXCEPT: A) storing the product. B) actually making the product. C) advertising the product. D) designing the packaging for the product. E) setting the price of the product.
answer
B
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The fact that US car companies are located in the upper Midwest while their customers are located throughout the U.S. is an example of: A) separation in values. B) discrepancies of assortment. C) separation of information. D) spatial separation. E) separation in time.
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D
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An economic system in which government officials determine production levels is known as: A) pure subsistence. B) macro-marketing. C) market-directed. D) production-oriented. E) command.
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E
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Which of the following is the BEST example of management thinking during the "production era"? A) "We need to make whatever products are easy to produce." B) "We need to find out what the customer wants." C) "The more salespeople we have, the more we can sell." D) "We need to work hard to sell the product to our customers." E) "If we produce a good product, customers will find us and buy it."
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E
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The owner of a company that produces electronic circuit boards sees many competitors with extra capacity and says "the only hope is that our sales manager, who makes all of our marketing decisions, will find a way to sell more boards." It seems that this company is run as if it were in the: A) production era. B) sales era. C) excess capacity era. D) marketing company era. E) marketing department era.
answer
B
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A firm with a marketing orientation is MOST likely to: A) view advertising as an unnecessary expense. B) recognize that effective advertising is the key to sales. C) advertise how a product meets customers' needs. D) focus advertising on product features. E) not use any advertising.
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C
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Which of the following statements about customer value is true? A) Customer value is the difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits. B) The greater the competition, the less important customer value is. C) The sure way to achieve high customer value is to offer a lower price. D) It is the manager's view of customer value that matters, not the customer's. E) None of these statements is true.
answer
A
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The term "micro-macro dilemma" means that: A) most people are both producers and consumers. B) marketing people cannot agree on whether marketing should be viewed as activities or as a social process. C) macro-marketing is just a small part of a larger micro-marketing system. D) the micro view of marketing is concerned with the flow of goods and services from producers to consumers--while the macro view is not. E) what is "good" for some producers and consumers may not be good for society as a whole.
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E
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A marketing manager made a speech in which he described his organization as having "really embraced the marketing concept over ten years ago." A critic in the audience argued that the manager didn't understand the "socially conscious" view of the marketing concept. Given the critic's argument, the marketing manager may work for: A) a fruit processor. B) the public library. C) a firm that recycles aluminum cans. D) a soap producer. E) a motorcycle producer.
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E
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Which of the following criticisms focuses most directly on a macro view of marketing, rather than a micro view? A) Products often wear our right after the warranty expires. B) Much TV advertising is annoying. C) Marketing exploits the poor and the uneducated. D) Prices for very similar products vary a lot from store to store. E) Door-to-door salespeople are trained to be pushy.
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C
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"Marketing strategy planning" means: A) finding attractive opportunities and developing profitable marketing strategies. B) finding attractive opportunities and selecting a target market. C) selecting an attractive target market. D) selecting an attractive marketing mix. E) selecting a target market and developing a marketing strategy.
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A
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The difference between target marketing and mass marketing is that target marketing: A) means focusing on a small market. B) focuses on short-run objectives, while mass marketing focuses on long-run objectives. C) focuses on specific customers, while mass marketing aims at an entire market. D) does not rely on e-commerce but mass marketing does. E) aims at increased sales, while mass marketing focuses on increased profits
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C
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"Place" is concerned with: A) getting the product to its intended market. B) intermediaries located between producers and consumers. C) where, when, and by whom goods are offered for sale. D) when and where products are wanted. E) all of these might be involved with Place.
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E
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When Herbal Essences offers "dollar-off coupons" to adult women to try to get them to try its shampoos and conditioners, this is an example of: A) publicity. B) sales promotion. C) product development. D) market penetration. E) distribution.
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B
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Ideally, a good marketing mix should: A) be very similar to the marketing mix typically used by key competitors. B) be determined by which marketing mix costs the least. C) not include much advertising because it's expensive and usually isn't very effective. D) flow logically from all the relevant dimensions of a target market
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D
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The text's discussion of Ford's marketing strategy highlights the fact that: A) creative strategy planning is needed for survival. B) there is little alternative but to stick with the traditional promotion channels for a product. C) most consumers want only established products. D) once a firm reaches a position as the market leader, competitors are not likely to be a big problem.
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A
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A S.W.O.T. analysis: A) focuses on what a firm plans to do to "Satisfy Wishes Of a Target" customer. B) summarizes a firm's "strategy, wishes (of its customers), outlook, and tactics." C) helps defend against potential competitors by developing a set of competitive "safeguards, weapons, offensives, and tactics." D) identifies a firm's "strengths, weaknesses, opportunities, and threats." E) seeks to reduce the risk of competitive surprises by scanning the market for "signals, warnings, omens, and tips.
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D
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When Colgate encourages its current customers to brush more often by taking their toothbrush and toothpaste to work with them, which market opportunity is Colgate pursuing? A) Market development B) Product development C) Diversification D) Market penetration
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D
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To improve its profits, Delta Tool Corp. has redesigned its entire line of rechargeable power drills--adding several new or improved features and three new models. Apparently, Delta Tool is pursuing a ______________ opportunity. A) combiner B) market development C) product development D) diversification E) market penetration
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C
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All of the following are reasons why international opportunities should be considered by managers, EXCEPT: A) the world is getting smaller. B) serving international markets may improve economies of scale. C) favorable trends at home and unfavorable trends in other countries make international marketing particularly attractive. D) around the world, potential customers have needs and money to spend. E) it helps to develop a competitive advantage at home and abroad
answer
C
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When setting objectives for the whole firm, TOP MANAGEMENT should: A) involve the marketing manager in the objective setting process. B) set objectives that focus on the highest possible immediate profit potential. C) stick to general objectives--in order to maintain flexibility. D) set objectives beyond what can actually be achieved--so everyone will work harder. E) All of these are useful when setting objectives.
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A
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Which of the following is NOT primarily an example of the influence of technology on the external market environment? A) A camera producer finds a way to enable a camera to store digital pictures -- without film. B) Machines are developed to assemble defect-free electronic components. C) Robots on a production line make it possible to lower cost. D) A manufacturer of frozen food is finding that consumers prefer containers that can go from the freezer direct to a microwave oven. E) The government passes a law that prohibits use of cell phones while driving a vehicle
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E
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American legislative and economic thinking assumes that: A) competition among many small firms helps the economy. B) firms must have their prices approved by the Federal Trade Commission. C) the free enterprise system is dying. D) laws are needed to prevent firms from competing with similar ("me-too") products. E) government officials are needed to run the economy.
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A
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he Wheeler-Lea Amendment specifically aims at: A) product warranties. B) product safety. C) unfair or deceptive practices. D) tying and exclusive dealing contracts. E) mergers and acquisitions
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C
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Which of the following is least likely a result of shifts in the cultural and social environment? A) Domino's Pizza finds that demand for pizza delivered at home has expanded as more consumers are willing to pay for more convenience. B) A toy manufacturer recalls a playpen with a defective latch and Toys 'R' Us stores remove them from the shelf. C) Haagen-Dazs introduces a nonfat yogurt that is also "low cal." D) Sony recruits more women graduates for sales management positions. E) BMW builds its new plant in South Carolina because of the willingness of "Sun Belt" workers to put in a "full day's work.
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B
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Gross domestic product (GDP): A) is affected by economic conditions and the productivity of workers in the country. B) usually rises when there are bad economic conditions in an economy. C) is the amount of new capital invested in business in a year. D) is the total cost of producing all goods and services in a year. E) is the total market value of goods and services consumed in an economy in a year
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A
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All of the following countries listed more than 75 percent of their populations as Internet users in 2009 EXCEPT: A) Switzerland B) Australia C) United States D) Israel E) Algeria
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E
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The state with the largest percentage increase in population between 2000 and 2010 is: A) New York B) Nevada C) Illinois D) South Dakota E) Michigan
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B
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Which of the following population groups is the most techno-savvy? A) Seniors B) Gen X C) Boomers D) Busters E) Gen Y
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E
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According to the General Electric strategic planning grid, a business that is the strongest in its industry: A) should still be considered as a "no-growth" prospect unless the industry attractiveness is high. B) is a good prospect, provided the industry has at least medium attractiveness. C) should automatically receive a large investment. D) All of these alternatives about GE's strategic planning grid are true
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B
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Which of the following is the BEST example of a "generic market?" A) The senior citizen recreation market B) The designer shoes market C) The frozen yogurt market D) The transportation market E) The Hispanic-American market
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A
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A basic difference between a "generic market" and a "product-market" is: A) whether or not sellers in the market rely on e-commerce. B) how similar the competing sellers' products are. C) whether customer needs are similar or different. D) whether the market includes only buyers--or both buyers and sellers. E) There is NO DIFFERENCE--the terms mean the same thing
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B
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Which of the following is NOT part of a product-market definition? A) information about consumer needs B) information about the final customer (or user) of the product C) information about which specific retailers will sell the product D) a description of the type of product E) All of these should be included in a product-market definition.
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D
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The first step in market segmentation should be: A) deciding what new product you could develop. B) evaluating what segment(s) you currently serve. C) finding a demographic group likely to use your products. D) listing features of your current products. E) defining some broad product-markets where you may be able to operate profitably
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E
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Saying that a "good" product-market segment should be substantial means: A) that the company does not have to worry about substantial competition for a long time. B) that people should have substantially different reactions to marketing mix variables. C) it should be large enough to be profitable. D) that people in different market segments should be as different as possible. E) None of these choices is correct
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C
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Electro Technologies, Inc. (ETI) has limited capital and wants to reduce the risk of competitors taking customers if it invests in a new product-market. Its broad product-market consists of three reasonably distinct submarkets. To identify a target market, ETI should probably focus on using the __________ approach. A) combined target market B) mass marketing C) multiple target market D) single target market E) None of these is a good choice for Electro Technologies.
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D
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Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided NOT to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the: A) combined target market approach. B) single target market approach. C) multiple target market approach. D) mass marketing approach. E) None of these is a good choice for Quality Ceramic.
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A
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When segmenting broad product-markets, cost considerations tend: A) to encourage managers to disregard the criterion that a product-market segment should be substantial. B) to lead to more aggregating. C) to be unimportant as long as the segmenting dimensions are operational. D) to lead to a large number of small, but very homogeneous, product-market segments. E) All of these are true.
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D
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When major airlines target business travelers because they travel often and typically pay at least three times the price for a ticket as leisure travelers, these airlines are segmenting the market primarily on: A) income. B) education. C) rate of use. D) ethnicity. E) age
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C
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Which of the following statements about positioning is NOT true? Positioning techniques: A) position products on a graph based on price level and quantity demanded. B) require a firm to collect data about consumer perceptions of products. C) are sometimes called "perceptual mapping" techniques. D) typically rely on a "product space" diagram to show the relationship among various products. E) may use information about consumers' "ideal" products, so that the preferences of different segments of consumers can be considered.
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A
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"Discretionary income:" A) is a family's income AFTER taxes. B) is a measure of a family's total purchasing power. C) is the amount of income spent on durable goods. D) is a family's income AFTER paying taxes and paying for necessities.
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D
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According to the text, the economic-buyer theory: A) says that most consumers do not know the economic value of products they purchase. B) explains why people behave the way they do. C) includes psychological variables and social influences. D) is too simplistic to explain consumer behavior. E) assumes that consumers always buy the lowest price alternative.
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D
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Regarding consumer motivation, the text states that: A) wants are the basic forces which motivate people to do something. B) all needs and wants are caused by drives. C) wants are learned needs. D) the terms "needs" and "wants" mean the same thing. E) None of these alternatives is correct
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C
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Carmela Sanchez is planning to buy a pair of running shoes. Recently, she has been noticing more Adidas advertising in magazines. This is an example of: A) a physiological need. B) dissonance. C) need satisfaction. D) selective exposure. E) a consumer expectation.
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D
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When Taco Bell shows a large close-up of a chicken taco in a television ad, it is: A) encouraging selective retention. B) hoping to encourage extensive problem solving by the audience. C) appealing to the social needs of the audience. D) appealing to the economic needs of the audience. E) using a cue to encourage a particular response to the hunger drive.
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E
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Regarding the family life cycle, singles and younger couples without children: A) are more willing to try new products and brands. B) tend to be carefree shoppers who are not very price-conscious. C) often wait to buy basic durable goods until they have children. D) feel more financially squeezed than couples with young children. E) All of these are correct for singles and younger couples without children.
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A
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Reference-group influence would be WEAKEST for determining which particular ______________ a person buys. A) watch B) cosmetics C) clothing D) laundry soap E) car
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D
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With respect to culture and consumer behavior, A) culture is the whole set of beliefs, attitudes, and ways of doing things of a reasonably homogeneous set of people. B) culture may exert many subtle influences on other aspects of consumer behavior. C) different cultural subgroups are likely to require different marketing mixes. D) All of these alternatives are correct.
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D
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Consumers go through six steps when deciding to accept or reject a new idea. In this adoption process: A) the confirmation step follows the decision step. B) the evaluation step follows the trial step. C) the awareness step follows the interest step. D) the trial step follows the awareness step. E) None of these is correct for the steps in the adoption process.
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A
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In developing marketing mixes for consumers in international markets, marketing managers should: A) generalize from one culture to another. B) use their intuition. C) know about the specific social and intrapersonal variables. D) follow their beliefs. E) All of these are correct.
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C
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Which of the following is NOT true regarding organizational buyers? A) Buyers for all kinds of organizations (governments, nonprofit groups, intermediaries) tend to buy in much the same way as do manufacturers. B) The basic aspects of business customer buying behavior tend to be quite similar in the U.S. and in international markets. C) Marketing strategies aimed at them are often tailored to each individual customer. D) Their purchases are made to help their organizations meet the demands for their products. E) Their needs are usually harder to define than for final consumers.
answer
E
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When a company is trying to decide which type of smartphone to purchase for its sales staff and has never had to make that specific type of purchase before, this buying situation is called a(n): A) Straight rebuy. B) New-task buy. C) JIT buy. D) Modified rebuy. E) ISO 9000 buy.
answer
B
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modified rebuy would be most likely when: A) A railroad plans to change from steel to aluminum rail cars to cut weight. B) A car producer is developing a sportier car which will require wider tires. C) A bread producer is placing its weekly order for flour. D) A computer producer is buying new assembly line equipment. E) A shoe factory needs more glue to attach heels to its shoes.
answer
B
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A report on a seller's website that describes how one of its customers solved a specific problem by using the seller's products is called a(n): A) white paper. B) outsource. C) executive summary. D) case study. E) mission statement.
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D
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Today, when a buyer can't specify all of the details of what it will need in the future, the relationship with a supplier is most likely to involve: A) an auction. B) a procurement hub. C) negotiated contracts. D) competitive bids. E) All of these are likely to be involved.
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C
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Regarding the manufacturers' market, large firms (with more than 250 employees): A) account for the majority of the total "value added" by all manufacturers. B) are very few compared to the many small firms. C) employ about half of all people employed in manufacturing. D) All of these alternatives are true.
answer
D
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If a firm targets business and organizational markets, A) NAICS codes may be helpful for segmenting potential customers. B) each customer may need to be treated as a different segment. C) competing manufacturers are often clustered in geographic locations. D) All of these alternatives are true.
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D
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The U.S. government would NOT publish NAICS data that gives: A) the total sales volume of the four steel manufacturers in a geographic area. B) the number of employees for similar two-digit industry groups. C) the total sales volume of the only textile equipment manufacturer in a state. D) the sales volumes of similar two-digit industry groups. E) the number of establishments for various industry groups.
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C
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Large wholesale and retail buyers typically: A) pay close attention to each of the products they buy. B) don't trust automatic inventory control methods. C) see themselves as selling agents for manufacturers. D) buy most of their products as straight rebuys. E) None of these alternatives is correct.
answer
D
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The Foreign Corrupt Practices Act: A) allows small grease money payments if they are customary in the foreign country in which a firm is operating. B) applies to foreign firms or individuals who accept payments while in the U.S. C) prohibits U.S. firms from paying bribes to foreign officials. D) All of these alternatives about the Foreign Corrupt Practices Act are correct.
answer
D
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Marketing research: A) should be planned by research specialists who understand research techniques better than marketing managers. B) is needed to keep marketing managers in touch with their markets. C) consists mainly of survey design and statistical techniques. D) is only needed by producers who have long channels of distribution. E) All of these alternatives are correct.
answer
B
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When getting information for marketing decisions, the marketing manager: A) can benefit from new developments in computer networks and software. B) should have access to ongoing information about business performance. C) may need to make some decisions based on incomplete information. D) may need to rely on his or her own instincts to make some decisions. E) All of these alternatives are correct.
answer
E
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A complete marketing information system: A) provides a good overall view on many types of problems, but usually cannot provide answers to specific questions. B) eliminates the need for "one-shot" marketing research projects. C) is organized to continually gather data from internal and external sources, including market research studies. D) is usually too complicated for the marketing manager to use without help from data processing specialists. E) All of these alternatives are correct.
answer
C
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An outside sales force can provide customers with up-to-date inventory levels, product prices, delivery dates, and so forth by accessing information on the firm's own: A) marketing model. B) marketing dashboard. C) intranet. D) JIT system. E) EDI system.
answer
C
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Which of the following is most consistent with the scientific method approach to marketing research discussed in the text? A) "We continually survey our customers because the results give us good ideas for hypotheses." B) "Once we interpret the data, we can define our problem." C) "Our research is as precise as possible--because we want to be 100 percent accurate." D) "Sometimes the answers from the early stages of the research process are good enough so we stop the research and make our decisions." E) None of these alternatives is correct.
answer
D
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The first thing a marketing manager should do if one of his firm's products drops in sales volume is: A) conduct a survey to see what is wrong. B) define the problem. C) set research priorities. D) do a situation analysis. E) interview representative customers.
answer
B
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Marketing research: A) usually requires complex statistical techniques, so marketing managers should leave planning of the research to the research specialists. B) is likely to be more effective when guided by the strategy planning framework. C) should gather as much information as possible. D) begins by analyzing the situation. E) All of these alternatives about marketing research are correct.
answer
B
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Data which have already been collected in a previous study are called __________ data, while data that are generated by a phone survey this month of key customers are called _______ data. A) primary; secondary B) primary; intranet C) secondary; primary D) secondary; experimental E) intranet; sample
answer
C
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Which of the following is NOT a good example of the observation method of marketing research? A) The manager of a supermarket occasionally walks through the store to see what customers are doing. B) A drugstore installs optical scanners at its checkout counters. C) The owner of a shopping center puts a counting device at the entrance to count how many cars come in. D) A store manager studies videotapes of consumers shopping in the store. E) All of these are good examples of observation research.
answer
A
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The response rate to a survey affects: A) who is in the population for a marketing research study. B) whether a statistical package can be used to analyze the data. C) how representative the sample is. D) All of these alternatives are good answers.
answer
C
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Product" means: A) all the services needed with a physical good. B) a physical good with all its related services. C) the need-satisfying offering of a firm. D) all of a firm's producing and distribution activities. E) a well-packaged item with a well-advertised brand name
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C
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A company with a large product assortment might: A) have many product lines with little selection in each. B) have a single product line. C) have many individual products. D) All of these choices are correct.
answer
D
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If a brand consistently delivers on a promise that purchasers consider important, those purchasers are likely to develop a _______ for the brand. A) disliking B) trust C) demand D) mistrust E) tolerance
answer
B
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Nonrecognition of the brand name of a firm's product is likely to be LEAST important for: A) Coal B) Photographic film C) Lubricating oils for machinery D) Cold tablets E) Replacement auto repair parts
answer
A
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If members of the target market for an Apple iPad do not initially recognize the brand name, but compelling advertising results in more members remembering the brand, we say the Apple iPad has achieved: A) brand rejection. B) brand preference. C) brand nonrecognition. D) brand insistence. E) brand recognition
answer
E
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Which of the following statements about the Lanham Act is TRUE? A) It spells out what kinds of brand names can be protected. B) Registration under the Lanham Act only applies to licensed brands. C) The Lanham Act makes registration of a brand name mandatory. D) Registering under the Lanham Act does not help protect a trademark to be used in foreign markets. E) All of these statements about the Lanham Act are TRUE.
answer
A
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Dealer brands, compared to manufacturer brands, usually offer wholesalers and retailers: A) less risk. B) higher gross margins. C) faster turnover at reduced selling costs. D) products which are presold to target customers. E) more prestige.
answer
B
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If a consumer product is used regularly and usually bought frequently and routinely with little thought (although branding may be important), this product is: A) a routine product. B) a specialty product. C) a homogeneous shopping product. D) a staple product. E) a casual product
answer
D
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Having a competitive price is likely to: A) be more important for a homogeneous shopping product than for a specialty product. B) be more important for a heterogeneous shopping product than for a homogeneous shopping product. C) be more important for an emergency product than for a staple. D) keep a product from falling into the "unsought" product class. E) None of these alternatives is correct.
answer
A
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Regarding the demand for business products, A) Demand for business products is derived from the demand for final consumer products. B) The demand facing most individual firms is fairly inelastic. C) Industry demand is generally highly elastic. D) All of these alternatives are correct.
answer
A
question
In which of the following situations is the new product entering the MARKET INTRODUCTION stage of the product life cycle? A) Porsche just introduced a new luxury sport-ute to compete against sport-utes made by others. B) Colgate-Palmolive just introduced a "new and improved" chemical formula for its "Total" toothpaste. C) Home Depot (a home improvement chain) just introduced its own dealer brand of paint. D) Apple just introduced a computer operating system that is so "user-friendly" it responds to spoken commands. E) All of these situations show a new product entering the MARKET INTRODUCTION stage of the product life cycle.
answer
D
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Regarding product life cycles, good marketing managers know that: A) all competitors lose money during the sales decline stage. B) they are getting longer. C) industry sales reach their maximum during the market growth stage. D) firms earn their biggest profits during the market introduction stage. E) industry profits reach their maximum during the market growth stage
answer
E
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Marketing managers should recognize that: A) product life cycles appear to be getting longer. B) every segment within a market has the same product life cycle. C) the product life cycle describes the sales and profits of individual products, not industry sales and profits. D) firms that enter mature markets have to compete with established firms for declining industry profits. E) None of these alternatives is correct.
answer
D
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A new product idea is more likely to move quickly through the early stages of the product life cycle when: A) the product is easy to use. B) the product is compatible with the values and experiences of target customers. C) the product can be given a trial. D) the product's advantages are easy to communicate. E) All of these alternatives are correct.
answer
E
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Regarding product life cycles, good marketing managers know that: A) any new brand must start off in the market introduction stage. B) any product modification results in a new product life cycle. C) product life cycles cannot be extended. D) a firm's product can be withdrawn before its related product life cycle is over. E) All of these alternatives are true.
answer
D
question
According to the FTC, for a producer to call a product "new," the product: A) must be no more than two months old. B) must have achieved brand insistence. C) must be entirely new or changed in a functionally significant or substantial respect. D) must have been changed in some way during the last year. E) None of these alternatives is correct.
answer
C
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The new-product development process discussed in the text: A) is based on the idea that a firm should eliminate potentially unprofitable product ideas as early as possible. B) seeks to take as many ideas to market as possible, hoping to find a breakthrough opportunity. C) relies solely on test marketing to decide whether to drop an idea or take it to market. D) is especially important since it increases the number of new product ideas that get to the commercialization stage. E) None of these alternatives is true.
answer
A
question
Regarding the idea generation stage of the new-product development process, which of the following is TRUE? A) Business firms often get new product ideas from competitors. B) It is best to focus on only a few good ideas at this stage. C) Studying customers' ideas is not very helpful, since they tend to focus on minor technical changes in existing products. D) Most companies don't need a special procedure for seeking new product ideas because so many ideas are coming from so many different sources. E) None of these alternatives is true
answer
A
question
PepsiCo is evaluating an idea for a new "clear cola" by using focus groups made up of young adults to suggest brand names for the proposed product. This is an example of: A) empowerment. B) concept testing. C) market testing. D) TQM. E) EDI.
answer
B
question
Total quality management: A) requires that everyone in the organization be concerned with improving quality. B) means more than just using statistical controls to reduce manufacturing defects. C) views the cost of lost customers as an important result of quality problems. D) applies to service producers as well as manufacturers. E) All of these alternatives are correct.
answer
E
