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BUSML 3250 Final Quiz Questions

question

Many amusement parks charge a daily ticket or season pass charge plus additional fees for food and other​ in-park features. This is called​ __________. A. ​two-part pricing B. ​by-product pricing C. ​product-bundle pricing D. ​optional-product pricing E. product line pricing
answer

two part pricing
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One major objective of a​ market-penetration pricing strategy is to​ __________. A. skim off small but profitable segments B. set a high price to gain profits C. win a large market share D. prevent customer dissatisfaction E. attract buyers willing to pay a higher price
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win a large market share
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Whirlpool washers and dryers are offered in many different models. Whirlpool will use​ __________ pricing to determine the price steps between the different models. A. ​optional-product B. ​product-bundle C. ​captive-product D. ​two-part pricing E. product line
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product line
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Which of the following statements is true regarding initiating price​ cuts? A. Cutting prices in an industry with excess capacity may lead to price wars. B. If faced with excess capacity a firm should not cut its price. C. Firms never cut​ prices, they only raise them. D. Cutting price has no effect on costs. E. When faced with falling​ demand, firms should not cut prices.
answer

Cutting prices in an industry with excess capacity may lead to price wars.
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Which of the following statements regarding public policy and pricing is​ correct? A. Sellers are allowed to punish dealers who do not price a product at the​ manufacturer’s suggested retail price​ (MSRP). B. Companies are usually free to charge whatever prices they wish. C. It is legal in some industries for sellers to collude with competitors when setting prices. D. Federal statutes apply to both interstate and intrastate commerce. E. Companies​ can, under some​ circumstances, price items below cost.
answer

companies can under some circumstances price items below cost
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Which of the following statements regarding segmented pricing is​ correct? A. Perceived value does not have to be considered when using segmented pricing. B. For segmented pricing to be​ effective, the segments should have the same degree of demand. C. Segmented pricing is not used to price different versions of a product. D. Segmented pricing practices can cause consumer resentment. E. Different locations are not used as a basis for segmented pricing.
answer

Segmented pricing practices can cause consumer resentment
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When would a competitor most likely react to a​ firm’s price​ change? A. When the number of firms involved is large B. When buyers are not well informed about the product C. When the product is differentiated D. When buyers are not well informed about prices E. When the number of firms involved is small
answer

when the number of firms involved is small
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A company has set a low price on a new product it introduced. They want to maximize their market share and attract a large number of buyers quickly. Which new product pricing strategy should the company​ use? A. ​Market-penetration pricing B. ​Market-skimming pricing C. Optional product pricing D. ​Captive-product pricing E. Psychological pricing
answer

market penetration pricing
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A soda pop company offers a discount to a grocer. In​ exchange, the grocer agrees to provide​ in-store advertising for the soda pop and additional​ sales-support. This is an example of​ __________. A. cash discounts B. discounts C. promotional allowances D. ​trade-in allowances E. segment discounts
answer

promotional allowances
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Many personal care companies combine toothpaste with a toothbrush at a reduced price. This is an example of​ __________ pricing. A. ​by-product B. ​captive-product C. ​two-part D. product line E. ​product-bundle
answer

product bundle
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Two external factors which must be considered in pricing decisions are​ __________. A. the marketing mix and demand B. the marketing mix and the economy C. demand and the nature of the market D. the marketing mix and the nature of the market E. company objectives and the marketing mix
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demand and the nature of the market
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Which of the following statements is correct regarding different types of​ markets? A. Under monopolistic competition the market is dominated by one seller. B. In a pure​ monopoly, the market consists of many buyers and sellers trading over a range of prices. C. Under oligopolistic​ competition, the market consists of many buyers and sellers trading in a uniform commodity and sellers do not spend much time on marketing strategy. D. Under oligopolistic competition each seller is alert and responsive to​ competitors’ pricing strategies and marketing moves. E. Under pure competition sellers spend considerable time on marketing strategy and pricing decisions.
answer

Under oligopolistic competition each seller is alert and responsive to​ competitors’ pricing strategies and marketing moves
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Which of the following is a​ cost-based pricing​ approach? A. ​Break-even pricing B. ​Competition-based pricing C. ​High-low pricing D. EDLP pricing E. ​Value-added pricing
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break even pricing
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Which of the following statements about price is​ correct? A. Marketers do not a have lot of flexibility in setting and changing price. B. Pricing is not a problem for marketing executives. C. Customers have put increasing pricing pressures on many companies. D. Prices have no impact on a​ firm’s bottom line. E. Price is not an important competitive asset.
answer

Customers have put increasing pricing pressures on many companies
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Internal factors that affect pricing include​ __________. A. the nature of the​ market, demand, and the economy. B. the​ company’s overall marketing​ strategy, objectives, and the nature of the market C. the​ company’s overall marketing​ strategy, objectives, and marketing mix D. the​ company’s overall marketing​ strategy, objectives, and demand E. the​ company’s overall marketing​ strategy, the nature of the​ market, and demand.
answer

the​ company’s overall marketing​ strategy, objectives, and marketing mix
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Which of the following statements is true regarding​ costs? A. Experience curve pricing is a low risk strategy. B. Variable costs vary directly with the level of sales. C. Costs do not vary with different levels of production. D. Totals costs are the sum of​ long-run average costs and​ short-run average costs. E. Average cost tends to decrease with accumulated production experience.
answer

Average cost tends to decrease with accumulated production experience
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Luxury automobile manufacturers typically add​ quality, services, and other features to differentiate their offers and thus support their higher price. This is an example of​ __________. A. everyday low pricing B. ​customer-based pricing C. ​good-value pricing D. ​value-added pricing E. ​cost-based pricing
answer

value added pricing
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Which factor sets the floor on setting a​ product’s price? A. Competitors B. Product costs C. Revenue D. Demand E. ​Customer’s value perceptions
answer

product costs
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How is price determined using​ cost-plus pricing? A. The price is set so that total revenue covers total costs. B. The price is set based on demand. C. The price is set by determining the​ customer’s value perceptions. D. The price is set by adding a standard​ mark-up to the cost of the product. E. The price is set based on​ competitor’s prices.
answer

The price is set by adding a standard​ mark-up to the cost of the product
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The strategy of​ __________ means that the firm attempts to offer the right combination of quality and good service at a fair price. A. ​good-value pricing B. everyday low pricing C. ​customer-based pricing D. ​value-added pricing E. ​cost-based pricing
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good value pricing
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Which of the following best reflects the role of retailing in the distribution​ channel? A. All the activities involved in breaking down large volumes of goods for resale to retailers B. All the activities involved in selling goods over the Internet C. All the activities involved in selling raw materials to manufacturers D. All the activities involved when consumers sell to other consumers on auction websites E. All the activities involved in selling products or services directly to final consumers for their​ personal, nonbusiness use
answer

All the activities involved in selling products or services directly to final consumers for their​ personal, nonbusiness use
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L.L.Bean has turned its flagship store and campus in​ Freeport, Maine into a​ full-fledged outdoor adventure center.​ There, customers can​ hike, kayak, or go seal watching at nearby Cisco Bay. This is an example of​ __________. A. a community shopping center B. experiential retailing C. ​full-service retailing D. ​omni-channel retailing E. ​one-stop shopping
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experiential retailing
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Which of the following statements regarding green retailing is​ correct? A. Green retailing initiatives hurt the bottom line by increasing costs. B. The only current green retailing initiative is to offer environmentally friendly products. C. Retailers today are hesitant to adopt environmentally sustainable practices. D. Green retailing takes place at the store and does not extend to other channel members. E. Green retailing initiatives extend to helping consumers be more environmentally responsible.
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Green retailing initiatives extend to helping consumers be more environmentally responsible
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One recent retailing trend resulting from economic conditions is​ __________. A. ​pop-up stores B. the rise of megastores C. green retailing D. tighter consumer spending E. retail convergence
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tighter consumer spending
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In terms of​ location, most stores today cluster together. What is the primary reason for​ this? A. To ensure they all maintain the same profit margin B. To increase their customer pulling power C. To avoid paying taxes D. To ensure customers will not​ “one-stop” shop E. To achieve common ownership
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to increase their customer pulling power
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Which wholesaler channel function helps reduce inventory holding​ costs? A. Financing B. Transportation C. Risk bearing D. Warehousing E. Buying and assortment building
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warehousing
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​__________ involves focusing the entire marketing process toward turning customers into buyers as they approach the point of sale. A. ​Full-service retailing B. Shopper marketing C. Retail convergence D. Wholesaling E. Retailing
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shopper marketing
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Which of the following statements about retailer marketing decisions is​ correct? A. Retailers do not have to segment and target their markets. B. Stores do not need to differentiate and position themselves. C. Retailers do not differentiate themselves on their service mix. D. Many retailers identify three critical factors for retail​ success: location,​ location, and location. E. Most retailers seek either high markups on higher volume or low markups on lower volume.
answer

Many retailers identify three critical factors for retail​ success: location,​ location, and location
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What are the three main types of​ off-price retailers? A. ​Independents, factory​ outlets, and warehouse clubs B. Discount​ stores, convenience​ stores, and supermarkets C. Discount​ stores, factory​ outlets, and warehouse clubs D. ​Franchises, factory​ outlets, and warehouse clubs E. Discount​ stores, factory​ outlets, and convenience stores
answer

​Independents, factory​ outlets, and warehouse clubs
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​Recently, superstores that are actually giant specialty​ stores, such as Petco and Home​ Depot, have seen tremendous growth. These types of superstores are called​ __________. A. discount stores B. category killers C. warehouse clubs D. ​off-price retailers E. department stores
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category killers
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Firms producing consumer​ electronics, furniture, and home appliance brands typically distribute their products​ __________. A. selectively B. intensively C. through value added resellers D. exclusively E. through franchises
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selectively
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Which of the following is an example of horizontal channel​ conflict? A. A Ford dealer complaining that another Ford dealer is advertising in their territory B. A retailer complaining about a​ producer’s pricing. C. A consumer complaining to a producer about the quality of a product. D. A consumer complaining to a retailer about the service they received. E. A retailer complaining about receiving damaged goods from a wholesaler.
answer

A Ford dealer complaining that another Ford dealer is advertising in their territory
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Which of the following statements regarding marketing channel design is​ correct? A. Marketers should always maximize the number of intermediaries used in a channel. B. Channel alternatives should be evaluated against​ economic, control, and adaptability criteria. C. In global​ markets, channel systems are the same in different countries. D. Channel objectives should be set in terms of profitability. E. It is important to let the responsibilities of channel members evolve as their relationship develops.
answer

Channel alternatives should be evaluated against​ economic, control, and adaptability criteria
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What are the four major functions of​ logistics? A. Inventory​ management, transportation,​ shipping, and warehousing B. ​Warehousing, inventory​ management, transportation, and​ retailing C. ​Warehousing, inventory​ management, transportation, and logistics information​ management D. ​Warehousing, inventory​ management, retailing, and logistics information management E. ​Retailing, inventory​ management, transportation, and logistics information​ management
answer

​Warehousing, inventory​ management, transportation, and logistics information​ management
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Which of the following statements regarding marketing channel behavior and design is​ correct? A. Vertical marketing systems lack leadership and​ power, often resulting in damaging conflict and poor channel performance. B. Conflicts rarely occur in marketing distribution channels. C. The success of individual channel members depends on the overall​ channel’s success. D. Distribution channels are nothing more than simple collections of firms tied together by various flows. E. A conventional distribution channel consists of one or more independent​ producers, wholesalers, and retailers acting as a unified system.
answer

The success of individual channel members depends on the overall​ channel’s success
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One key function of channel members is​ __________, which involves shaping offers to meet the​ buyer’s needs, including activities such as​ manufacturing, grading,​ assembling, and packaging. A. contact B. risk taking C. matching D. negotiating E. promotion
answer

matching
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Companies now use​ __________ and supply chain management software to help​ recruit, train,​ organize, manage,​ motivate, and evaluate channel partners. A. distribution centers B. channel management C. partner relationship management D. customer relationship management E. logistics
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partner relationship management
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Which of the following is a reason that producers use marketing channels and channel​ intermediaries? A. Using channel intermediaries increases the number of contacts with customers. B. Marketing channel decisions require only a​ short-term commitment. C. The reduced costs of using channel intermediaries offsets the inefficiencies of marketing channels. D. Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers. E. Using marketing channels allows producers to retain full control over how and to whom they sell their products.
answer

Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers
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In​ 2001, Apple opened its first Apple stores in the United States. These stores were owned and operated by Apple. This is an example of which type of vertical marketing system​ (VMS)? A. Contractual B. Franchise C. Administered D. Conventional E. Corporate
answer

corporate
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Which of the following statements regarding marketing logistics is​ correct? A. The goal of marketing logistics should be to provide a targeted level of customer service at the least cost. B. Sustainability is not relevant to marketing channel logistics and the supply chain. C. The goal of marketing logistics is to maximize sales. D. Marketing logistics handle only outbound logistics. E. It is important for companies to improve logistics even though logistics are not a source of competitive advantage.
answer

The goal of marketing logistics should be to provide a targeted level of customer service at the least cost
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According to the​ text, what can be the ultimate direct marketing​ medium, assuming it is used​ correctly? A. Blogs B. Email C. Online advertising D. Social media E. Websites
answer

email
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Buyers have increased their use of direct and digital marketing because they are​ __________. A. ​convenient, private, and hard to use B. ​easy, private, and expensive C. ​easy, convenient, and public D. ​easy, convenient, and private E. ​easy, convenient, and impersonal
answer

easy, convenient, and private
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Which of the following correctly identifies forms of digital direct​ marketing? A. ​Telemarketing, face-to-face​ selling, and kiosk marketing B. ​Direct-response TV​ marketing, telemarketing, and​ direct-mail marketing C. Kiosk​ marketing, telemarketing, and​ direct-response TV marketing D. ​Telemarketing, direct-mail​ marketing, and catalog marketing E. Online​ marketing, social media​ marketing, and mobile marketing
answer

Online​ marketing, social media​ marketing, and mobile marketing
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Which form of marketing involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer​ relationships? A. Personal selling B. Sales promotion C. Direct and digital marketing D. Public relations E. Advertising
answer

direct and digital marketing
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Which of the following would represent a niche online social networking​ site? A. YouTube B. Facebook C. Birdpost D. ​Google+ E. LinkedIn
answer

birdpost
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Many company websites are now designed to do more than just sell product. These​ websites, known as​ __________ websites, attempt to build closer customer relationships and generate engagement with and between the brand and its customers. A. brand engagement B. brand community C. brand equity D. ​brand-sponsored E. branded
answer

brand community
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To avoid being intrusive and​ annoying, most legitimate email marketers practice​ __________, which means sending email pitches only to customers who​ “opt in.” A. permission based email marketing B. unsolicited email marketing C. spamming D. personalized email E. viral marketing
answer

permission based email marketing
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Many consumers today rent DVDs from a vending machine called Redbox that can be found in retail stores and other locations. Redbox is which type of direct marketing​ tool? A. DRTV B. Infomercial C. Kiosk D. ZoomSystem E. iTV
answer

kiosk
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Which of the following is a potential disadvantage to using blogs for​ marketing? A. Blogs are a​ one-way communication channel. B. Blogs are a​ user-controlled medium. C. Blogs are only available from third parties. D. Blogs are impersonal. E. Blogs have limited reach.
answer

blogs are a user controlled medium
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Direct mail is well suited for which of the​ following? A. ​Real-time marketing B. Engaging customers anytime and anywhere during the buying process C. Offering interactive content D. ​Direct, one-to-one communications E. Building brand community
answer

direct, one to one communications
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Some companies still treat sales and marketing as separate functions. One effect this can have is to​ __________. A. improve coordination between the two departments B. improve the relationships between the two departments C. improve the​ company’s performance D. allow marketing to be more in touch with customers E. damage customer relationships
answer

damage customer relationships
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What are the four elements of a compensation plan for​ salespeople? A. A fixed​ amount, a variable​ amount, expenses, and salary B. A fixed​ amount, a variable​ amount, expenses, and fringe benefits C. A fixed​ amount, a variable​ amount, salary, and commission D. A fixed​ amount, a variable​ amount, expenses, and commission E. A fixed​ amount, a variable​ amount, stock​ ownership, and fringe benefits
answer

A fixed​ amount, a variable​ amount, expenses, and fringe benefits
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According to the​ text, what is the​ fastest-growing sales trend​ today? A. ​Commission-based compensation plans B. Using a field based sales force C. Social selling D. ​e-learning E. The use of sales quotas
answer

social selling
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Which of the following statements is true regarding​ salespeople? A. Salespeople must be fast talkers. B. Salespeople do not play a role in solving customer problems. C. Most salespeople lack common sense and social skills. D. Salespeople are not well educated. E. The best salespeople are the ones who work closely with customers for mutual gain.
answer

The best salespeople are the ones who work closely with customers for mutual gain.
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Sales​ reports, call​ reports, and expense reports are all used in the process of​ __________ salespeople. A. supervising B. motivating C. evaluating D. training E. selecting
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evaluating
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One consumer promotion tool is​ __________, which are goods offered free or at a low cost as an incentive to buy a product. A. premiums B. coupons C. advertising specialties D. ​point-of-purchase promotions E. rebates
answer

premiums
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After the presentation and demonstration step in the sales​ process, a salesperson should next be prepared to​ __________. A. approach qualified customers B. ​follow-up with the customer C. immediately close the sale D. prospect the customer E. handle objections
answer

handle objections
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Procter​ & Gamble organizes its sales reps into​ teams, and each team is assigned to a major account​ (such as Safeway or​ Walmart). Which type of sales force structure is​ P&G using in this​ example? A. Territorial B. Product C. Simple D. Customer E. Complex
answer

customer
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Delta Faucet partnered with Warrior​ Dash, which sponsored several 5k mud run races around the country over the summer. At each​ event, Delta built a huge custom shower​ station, complete with 184 Delta​ showerheads, where​ mud-soaked competitors could meet and wash off after the race. This is an example of which type of​ promotion? A. Samples B. ​Point-of-purchase promotions C. Trade show D. ​Contests, sweepstakes, and games E. Event marketing
answer

event marketing
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What is the first decision made in sales force​ management? A. Training salespeople B. Recruiting and selecting salespeople C. Evaluating salespeople D. Compensating salespeople E. Designing sales force strategy and structure
answer

designing sales forced strategy and structure
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Regardless of the size of the​ budget, to​ succeed, advertising must engage consumers and​ __________. A. use humor B. communicate well C. reduce the clutter D. attack competitors E. entertain them
answer

communicate well
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Annual​ reports, brochures,​ articles, and company newsletters all represent which type of PR​ tool? A. Written materials B. Special events C. Corporate identity materials D. News E. Audiovisual materials
answer

written materials
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What is the first step in the media selection​ process? A. Determining the tone of the ad B. Choosing the media timing C. Choosing the media vehicle D. Determining​ reach, frequency,​ impact, and engagement E. Choosing the media type
answer

Determining​ reach, frequency,​ impact, and engagement
question

What is media​ impact? A. The return on investment from the ad campaign B. The number of times a person is exposed to a message C. How much the chosen media engages the target audience D. The percentage of the target audience that is exposed to a message E. The qualitative value of exposure to a message
answer

the qualitative value of exposure to a message
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What is the intent of​ advertainment? A. To place brands in popular television shows B. To clearly separate the advertisement from the entertainment aspect C. To use humorous appeals that everyone agrees are funny D. To make ad messages credible E. To make ads and brand content into something that people actually want to watch
answer

To make ads and brand content into something that people actually want to watch
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Which of the following statements about setting an advertising budget is​ correct? A. Mature brands usually require higher advertising budgets as a ratio to sales. B. Undifferentiated brands do not require advertising to set them apart. C. When a product is clearly​ differentiated, advertising is not used in the promotion mix. D. New products typically need relatively large advertising budgets to build awareness and to gain consumer trial. E. Brands in a market with many competitors and high advertising clutter usually require less advertising.
answer

New products typically need relatively large advertising budgets to build awareness and to gain consumer trial
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Which public relations function is used to work with donors or members of nonprofit organizations to gain financial or volunteer​ support? A. Development B. Product publicity C. Press relations D. Public affairs E. Lobbying
answer

development
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When a company directly or indirectly compares its brand with one or more other brands in an​ advertisement, they are using​ __________. A. competitive advertising B. informative advertising C. reminder advertising D. comparative advertising E. an unethical practice
answer

comparative advertising
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Which of the following statements about advertising is​ correct? A. In addition to​ businesses, advertising is used by many types of organizations. B. Advertising is synonymous with public relations. C. Over​ time, advertising has changed very little. D. Advertising is not useful for persuading an audience. E. Advertising began in the early​ 1800’s.
answer

In addition to​ businesses, advertising is used by many types of organizations
question

Which type of advertising is important for​ mature, established​ brands? A. Informative B. Persuasive C. Comparative D. Reminder E. Attack
answer

reminder
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Nonpersonal communication channels include​ __________. A. major​ media, events, and buzz marketing B. major​ media, email, and events C. major​ media, atmospheres, and Internet chat D. major​ media, atmospheres, and events E. major​ media, Internet​ chat, and events
answer

major media, atmospheres, and events
question

One reason there is a need for integrated marketing communications is that​ __________. A. messages from companies come from a single source. B. communication channels today are less fragmented than in the past. C. consumers​ don’t distinguish between content sources the way marketers do. D. companies often integrate their various communication channels. E. consumers today distinguish​ brand-related content from different sources
answer

consumers​ don’t distinguish between content sources the way marketers do
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​__________ is the promotion mix tool that consists of​ short-term incentives to encourage the purchase or sale of a product or service. A. Direct and digital marketing B. Advertising C. Sales promotion D. Personal selling E. Public relations
answer

sales promotion
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​__________ involves cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities. A. Email marketing B. Celebrity marketing C. Event marketing D. Opinion leader marketing E. Buzz marketing
answer

buzz marketing
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​__________ involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships. A. Public relations B. Advertising C. Sales promotion D. Personal selling E. Direct and digital marketing
answer

direct and digital marketing
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A company wishes to reach a large number of geographically dispersed buyers at a low cost per exposure. Which element of the promotional mix should the company​ use? A. Advertising B. Direct and digital marketing C. Sales promotion D. Personal selling E. Public relations
answer

advertising
question

Which promotional tool includes​ presentations, trade​ shows, and incentive​ programs? A. Advertising B. Sales promotion C. Direct and digital marketing D. Public relations E. Personal selling
answer

personal selling
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Developing effective marketing communications starts with​ __________. A. determining the communication objectives B. identifying the​ consumer’s buyer readiness stage C. designing a message D. collecting feedback E. identifying the target audience
answer

identifying the target audience
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A recent study showed that more than​ two-thirds of advertisers are planning video ad campaigns that stretch across multiple viewing platforms. This is called​ __________. A. video reach B. video integration C. video coordination D. video convergence E. platform coordination
answer

video convergence
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Which of the following statements regarding the changing communications landscape is​ correct? A. The dominance of​ television, magazines,​ newspapers, and other traditional mass media is declining. B. The digital age has had little impact on marketing communications. C. Marketers today are shifting their efforts to mass marketing. D. In terms of​ communication, today’s consumers are less empowered. E. More than​ ever, consumers are relying on marketers for information.
answer

The dominance of​ television, magazines,​ newspapers, and other traditional mass media is declining
question

What are the four types of joint venture entry​ strategies? A. ​Licensing, contract​ manufacturing, management​ contracting, and joint ownership B. ​Licensing, contract​ manufacturing, management​ contracting, and direct investment C. ​Exporting, contract​ manufacturing, management​ contracting, and joint ownership D. Contract​ manufacturing, management​ contracting, joint​ ownership, and direct investment E. ​Exporting, direct​ investment, licensing, and joint ownership
answer

​Licensing, contract​ manufacturing, management​ contracting, and joint ownership
question

Nations that have too little hard currency to pay for their purchases from other countries will often use which method of international​ trade? A. Cash transactions B. Free trade zones C. Credit D. Tariffs E. Barter
answer

barter
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One barrier to international trade is when a country imposes biases against​ bids, restrictive product​ standards, or excessive​ host-country regulations or enforcement. These actions represent​ __________. A. exchange controls B. quotas C. duties D. nontariff trade barriers E. tariffs
answer

nontariff trade barriers
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What is the simplest way to enter a foreign​ market? A. Through joint venturing B. Through direct investment C. Through exporting D. Through licensing E. Through joint ownership
answer

through exporting
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Which type of industrial structure offers the fewest marketing​ opportunities? A. Raw material exporting economies B. Industrial economies C. Subsistence economies D. Free trade zones E. Emerging economies
answer

subsistence economies
question

In which form of international organization are country managers responsible for​ salespeople, sales​ branches, distributors, and licensees in their respective​ countries? A. Export department B. Geographical organizations C. International subsidiaries D. World product groups E. Global organization
answer

geographical organizations
question

Which organization was designed to reassess trade​ barriers, establish new rules for international​ trade, impose international trade​ sanctions, and mediate global trade​ disputes? A. The General Agreement on Tariffs and Trade​ (GATT) B. The World Trade Organization​ (WTO) C. The European Union​ (EU) D. The Transatlantic Trade and Investment Partnership​ (TTIP) E. The North American Free Trade Agreement​ (NAFTA)
answer

the world trade organization
question

What is the main disadvantage of direct​ investment? A. Lack of control over the investment B. The risks the firm faces C. Host nation resentment D. Higher costs E. The need to staff the facility with home nation employees
answer

the risks the firm faces
question

Apple​ iPads, Gillette​ razors, and Black​ & Decker tools are all sold successfully in about the same form around the world. This is an example of which global​ strategy? A. Communication adaptation B. A straight product extension C. Product invention D. Product adaptation E. Dual adaptation
answer

a straight product extension
question

Which of the following statements is true regarding pricing in global​ markets? A. Technological forces have had little impact on global pricing. B. Companies generally use a standard​ mark-up to set a global price. C. Companies typically set a uniform global price. D. When selling to less affluent consumers in developing countries many companies sell the existing product at a higher price. E. For most​ companies, their foreign prices probably will be higher than their domestic prices for comparable products.
answer

For most​ companies, their foreign prices probably will be higher than their domestic prices for comparable products
question

Much of​ Pinterest’s success is due to how they used marketing information to​ __________. A. understand that their site was not useful to businesses B. change the name of their website C. identify a unique customer insight D. send targeted email to key customers E. increase their profits
answer

identify a unique customer insight
question

Which of the following statements regarding conducting marketing research in a foreign country is​ correct? A. Good secondary data is easy to find in most foreign markets. B. Reaching respondents in other parts of the world is more difficult than it is in the United States. C. Consumers in foreign markets generally enjoy participating in marketing research. D. Language translation will be easy. E. Globalization has slowed​ down, so international research is no longer necessary.
answer

Reaching respondents in other parts of the world is more difficult than it is in the United States
question

Companies setup​ __________ which allow key customers and​ value-network members to access​ product, account, and other data anytime they need to. A. data warehouses B. extranets C. websites D. intranets E. wireless networks
answer

extranets
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Using marketing information to gain customer insights is of little value unless​ __________. A. marketers gather as much information as possible B. it is obtained as cheaply as possible C. it increases company profits D. it is used to make better marketing decisions E. it comes exclusively from big data
answer

it is used to make better marketing decisions
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Sending observers to watch and interact with consumers in their​ natural environment is known as​ __________. A. a focus group B. survey research C. ​on-site research D. ethnographic research E. experimental research
answer

ethnographic research
question

Which of the following statements about marketing information systems​ (MIS) is​ correct? A. A good MIS must balance what users would like to have against what they really need and what is feasible to offer. B. An MIS is focused on internal data and ignores the marketing environment. C. An MIS begins and ends with information collectors. D. Marketing information systems provide information only to a​ company’s internal users. E. A good MIS gives managers all the information they ask for.
answer

A good MIS must balance what users would like to have against what they really need and what is feasible to offer
question

Which of the following statement regarding competitive marketing intelligence is​ correct? A. Companies should not be concerned about​ competitor’s accessing publicly available information about them. B. The goal of competitive marketing intelligence is to improve strategic decision making. C. Monitoring a​ competitor’s website is unethical. D. Marketing intermediaries are not a good source of competitive marketing intelligenc E. Marketing intelligence information is not available from the U.S. government.
answer

The goal of competitive marketing intelligence is to improve strategic decision making.
question

What are the two main research instruments used by marketing researchers in primary data​ collection? A. Questionnaires and surveys B. Questionnaires and mechanical devices C. Questionnaires and panels D. The telephone and the Internet E. Questionnaires and the Internet
answer

questionnaires and mechanical devices
question

Which of the following is an advantage to using internal databases for​ information? A. Internal information sources are easy to manage. B. Internal information is in a form that is useful for making marketing decisions. C. Internal information is accurate and complete. D. The information stored in internal databases is always current. E. They can be accessed quickly and cheaply
answer

they can be accessed quickly and cheaply
question

After defining the problem and​ objectives, what is the next step in the marketing research​ process? A. Analyze the dat B. Implement the plan. C. Report the findings. D. Collect the dat E. Develop the research plan.
answer

develop the research plan