Business Chapter 11-13

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What does the value of a product do?
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Compares its benefits with its costs
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bears little resemblance to consumer buying practices
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Marketers may face all of the following types of competition, EXCEPT which one
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employee competition
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Marketers monitor the ___________ to anticipate trends in consumer and business spending.
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business cycle
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Consumer buying process includes all the following steps, EXCEPT which one?
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social media review
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As part of the planning and implementation strategies for any product, marketing managers develop
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the marketing mix
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Which type of research method compares the responses of the same or similar people under different circumstances?
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experimentation
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The four major influences on consumer behavior include all the following, EXCEPT which one?
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business
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What is usually the first step in a marketing strategy?
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selecting target markets
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Types of marketing that emphasizes building lasting relationships are referred to as
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relationship marketing
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Characteristics of B2B buyers include all the following, EXCEPT which one?
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begin with a small sample
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What do institutional market consists of?
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hospitals and museums
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Nonobjective factors are which type of motives?
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emotional
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Which market includes businesses that buy goods to be converted into other products?
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industrial
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Which aspect of the marketing Little Earth Productions change after examining shopping habits?
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product
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Market segmentation is defined as
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dividing a market into categories of customer types
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Steps to performing market research include all the following, EXCEPT which one?
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determine the target market
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How are industrial goods defined?
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physical items used by companies to produce other products
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Which phase of the marketing plan identifies the planned marketing programs?
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marketing strategy
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What is a set of techniques for communicating information about products?
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promotion
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Which of the following best describes a market segmentation based on age, income, and race?
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demographic
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The categories of organizational markets include all the following, EXCEPT which one?
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independent
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Customers generally buy a product because
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of its benefits
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Some of the reasons for small-business pricing errors include all the following, EXCEPT which one?
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looking at the competitive market
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Lifestyle and economic status are which type of influences?
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personal
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which of the following is TRUE about the pricing for online business?
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variable pricing is an alternative to conventional fixed pricing
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which of the following is NOT one of the orientations from which new ideas or visions for new products can stem?
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profitability
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which of the following is NOT one of the three classifications of consumer products?
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capital items
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which of the following is NOT TRUE about product placement?
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like TV commercials, product placements are easy to avoid
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which of the following is TRUE about pricing objectives of the seller?
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pricing objectives reflect the goals the seller hopes to achieve
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each of the following is a pricing strategy option for existing products, EXCEPT which one?
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price skimming
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each of the following is a pricing tactic, EXCEPT which one?
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bundling
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each of the following is one of the three classifications of organizational products EXCEPT which one?
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consulting services
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foreign markets offer three approaches to extending life cycles. each of the following is one, EXCEPT which one?
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new product development
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which of the following is NOT part of the product value package?
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price
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each of the following is one part of the three-part service process design, EXCEPT which one?
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time compression
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which of the following explains the difference between fixed and variable costs?
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variable costs change with the number of units of a product produced and sold, whereas fixed costs must be paid regardless of the number of units produced and sold
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which of the following is NOT one of the four stages of the Product Life Cycle?
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death
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which of the following statements about new product development is NOT true?
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creating a successful new product is quite easy for an experienced marketer
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which of the following refers to the group of products that a company makes available for sale, whether consumer, industrial, or both?
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product mix
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which of the following pricing strategies works best when introducing a product that already has competitors?
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penetration
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which of the following is TRUE regarding break-even analyses?
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both profit and loss are at a zero
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each of the following is a type of brand name, EXCEPT for which one?
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generic
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which of the following should be the first step in the product development process?
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poduct ideas
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which of the following is NOT a type of pricing objective for businesses?
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mark-up objectives
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which of the following is the term marketers use to define the product as a bundle of attributes, benefits, and features?
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value package
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which of the following is NOT TRUE about pricing for new products?
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price skimming works best in a highly competitive market
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each of the following is a component of price setting, EXCEPT which one?
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market share
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each of the following is one reason why new product development is necessary, EXCEPT which one?
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a company’s success is measure by its number of products
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which of the following terms is used to describe the process of using names and symbols to communicate the qualities of a particular product made by a particular producer?
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branding
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Which of the following is not an example of a function of business-to-business brokers?
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buys products from manufacturers and sells them to other businesses
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when choosing a transportation method each of the following needs to be considered, EXCEPT which one?
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safety concerns over trucking
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businesses that have supply chains as a cornerstone of their business strategy are required to do each of the following, EXCEPT which one?
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raise additional capital
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which of the following is NOT one of the tasks of personal selling?
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real-time ad tracking
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which of the following terms is used when one website offers another a commission for referring customers?
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syndicated selling
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the ultimate objective of any promotion is which of the following?
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increase sales
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which of the following describes the strategy when a firm markets its product to wholesalers and retailers who then persuade customers to buy it?
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push strategy
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which of the following terms refers to the entire stream of activities involved in getting products to customers?
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supply chain
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which of the following refers to the activities needed to move products from an intermediary or a manufacturer to customers?
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physical distribution
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which of the following is NOT true about agents and brokers
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agents and brokers work on salary from the producer company
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which of the following is a downfall of nondirect distribution
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the consumer price is higher
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which of the following is NOT considered a type of merchant wholesaler?
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agents and brokers
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creative selling requires each of the following EXCEPT which one?
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media planning
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which of the following is NOT a type of online retailer?
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brick-and-mortar stores
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each of the following is a type of sales promotion, EXCEPT which one?
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direct marketing
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the combination of advertising, personal selling, sales promotions, direct or interactive marketing, publicity, and public relations is referred to by which of the following terms?
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promotional mix
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which of the following describes the process when the product travels from the producer to the consumer or organizational buyer without intermediaries?
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direct distribution
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each of the following is part of the distribution mix, EXCEPT which one?
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promotion
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which of the following is NOT a distribution strategy?
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nondirect distribution
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which of the following is a type of retailer with specific market segments and full product lines in narrow product fields?
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specialty store
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which of the following refers to a situation when members of the channel disagree over roles or rewards?
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channel conflict
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each of the following is a function of the e-intermediary, EXCEPT which one?
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using data warehousing
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which of the following would NOT be found on a list of benefits of online retailing from the customer viewpoint?
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personal customer service
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which of the following phrases best describes real-time ad tracking?
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accurate ad-watching behavior of shopping in malls, theatres, and grocery stores
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which of the following is NOT true about relationship marketing
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relationship marketing does not apply to retail selling

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