BUSML 3250 Final Quiz Questions – Flashcards

Unlock all answers in this set

Unlock answers
question
two part pricing
answer
Many amusement parks charge a daily ticket or season pass charge plus additional fees for food and other‚Äč in-park features. This is called‚Äč __________. A. ‚Äčtwo-part pricing B. ‚Äčby-product pricing C. ‚Äčproduct-bundle pricing D. ‚Äčoptional-product pricing E. product line pricing
question
win a large market share
answer
One major objective of a‚Äč market-penetration pricing strategy is to‚Äč __________. 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
question
product line
answer
Whirlpool washers and dryers are offered in many different models. Whirlpool will use‚Äč __________ pricing to determine the price steps between the different models. A. ‚Äčoptional-product B. ‚Äčproduct-bundle C. ‚Äčcaptive-product D. ‚Äčtwo-part pricing E. product line
question
Cutting prices in an industry with excess capacity may lead to price wars.
answer
Which of the following statements is true regarding initiating price‚Äč 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‚Äč prices, they only raise them. D. Cutting price has no effect on costs. E. When faced with falling‚Äč demand, firms should not cut prices.
question
companies can under some circumstances price items below cost
answer
Which of the following statements regarding public policy and pricing is‚Äč correct? A. Sellers are allowed to punish dealers who do not price a product at the‚Äč manufacturer's suggested retail price‚Äč (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‚Äč can, under some‚Äč circumstances, price items below cost.
question
Segmented pricing practices can cause consumer resentment
answer
Which of the following statements regarding segmented pricing is‚Äč correct? A. Perceived value does not have to be considered when using segmented pricing. B. For segmented pricing to be‚Äč 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.
question
when the number of firms involved is small
answer
When would a competitor most likely react to a‚Äč firm's price‚Äč 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
question
market penetration pricing
answer
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‚Äč use? A. ‚ÄčMarket-penetration pricing B. ‚ÄčMarket-skimming pricing C. Optional product pricing D. ‚ÄčCaptive-product pricing E. Psychological pricing
question
promotional allowances
answer
A soda pop company offers a discount to a grocer. In‚Äč exchange, the grocer agrees to provide‚Äč in-store advertising for the soda pop and additional‚Äč sales-support. This is an example of‚Äč __________. A. cash discounts B. discounts C. promotional allowances D. ‚Äčtrade-in allowances E. segment discounts
question
product bundle
answer
Many personal care companies combine toothpaste with a toothbrush at a reduced price. This is an example of‚Äč __________ pricing. A. ‚Äčby-product B. ‚Äčcaptive-product C. ‚Äčtwo-part D. product line E. ‚Äčproduct-bundle
question
demand and the nature of the market
answer
Two external factors which must be considered in pricing decisions are‚Äč __________. 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
question
Under oligopolistic competition each seller is alert and responsive to‚Äč competitors' pricing strategies and marketing moves
answer
Which of the following statements is correct regarding different types of‚Äč markets? A. Under monopolistic competition the market is dominated by one seller. B. In a pure‚Äč monopoly, the market consists of many buyers and sellers trading over a range of prices. C. Under oligopolistic‚Äč 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‚Äč competitors' pricing strategies and marketing moves. E. Under pure competition sellers spend considerable time on marketing strategy and pricing decisions.
question
break even pricing
answer
Which of the following is a‚Äč cost-based pricing‚Äč approach? A. ‚ÄčBreak-even pricing B. ‚ÄčCompetition-based pricing C. ‚ÄčHigh-low pricing D. EDLP pricing E. ‚ÄčValue-added pricing
question
Customers have put increasing pricing pressures on many companies
answer
Which of the following statements about price is‚Äč 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‚Äč firm's bottom line. E. Price is not an important competitive asset.
question
the‚Äč company's overall marketing‚Äč strategy, objectives, and marketing mix
answer
Internal factors that affect pricing include‚Äč __________. A. the nature of the‚Äč market, demand, and the economy. B. the‚Äč company's overall marketing‚Äč strategy, objectives, and the nature of the market C. the‚Äč company's overall marketing‚Äč strategy, objectives, and marketing mix D. the‚Äč company's overall marketing‚Äč strategy, objectives, and demand E. the‚Äč company's overall marketing‚Äč strategy, the nature of the‚Äč market, and demand.
question
Average cost tends to decrease with accumulated production experience
answer
Which of the following statements is true regarding‚Äč 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‚Äč long-run average costs and‚Äč short-run average costs. E. Average cost tends to decrease with accumulated production experience.
question
value added pricing
answer
Luxury automobile manufacturers typically add‚Äč quality, services, and other features to differentiate their offers and thus support their higher price. This is an example of‚Äč __________. A. everyday low pricing B. ‚Äčcustomer-based pricing C. ‚Äčgood-value pricing D. ‚Äčvalue-added pricing E. ‚Äčcost-based pricing
question
product costs
answer
Which factor sets the floor on setting a‚Äč product's price? A. Competitors B. Product costs C. Revenue D. Demand E. ‚ÄčCustomer's value perceptions
question
The price is set by adding a standard‚Äč mark-up to the cost of the product
answer
How is price determined using‚Äč 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‚Äč customer's value perceptions. D. The price is set by adding a standard‚Äč mark-up to the cost of the product. E. The price is set based on‚Äč competitor's prices.
question
good value pricing
answer
The strategy of‚Äč __________ means that the firm attempts to offer the right combination of quality and good service at a fair price. A. ‚Äčgood-value pricing B. everyday low pricing C. ‚Äčcustomer-based pricing D. ‚Äčvalue-added pricing E. ‚Äčcost-based pricing
question
All the activities involved in selling products or services directly to final consumers for their‚Äč personal, nonbusiness use
answer
Which of the following best reflects the role of retailing in the distribution‚Äč 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‚Äč personal, nonbusiness use
question
experiential retailing
answer
L.L.Bean has turned its flagship store and campus in‚Äč Freeport, Maine into a‚Äč full-fledged outdoor adventure center.‚Äč There, customers can‚Äč hike, kayak, or go seal watching at nearby Cisco Bay. This is an example of‚Äč __________. A. a community shopping center B. experiential retailing C. ‚Äčfull-service retailing D. ‚Äčomni-channel retailing E. ‚Äčone-stop shopping
question
Green retailing initiatives extend to helping consumers be more environmentally responsible
answer
Which of the following statements regarding green retailing is‚Äč 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.
question
tighter consumer spending
answer
One recent retailing trend resulting from economic conditions is‚Äč __________. A. ‚Äčpop-up stores B. the rise of megastores C. green retailing D. tighter consumer spending E. retail convergence
question
to increase their customer pulling power
answer
In terms of‚Äč location, most stores today cluster together. What is the primary reason for‚Äč 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‚Äč "one-stop" shop E. To achieve common ownership
question
warehousing
answer
Which wholesaler channel function helps reduce inventory holding‚Äč costs? A. Financing B. Transportation C. Risk bearing D. Warehousing E. Buying and assortment building
question
shopper marketing
answer
‚Äč__________ involves focusing the entire marketing process toward turning customers into buyers as they approach the point of sale. A. ‚ÄčFull-service retailing B. Shopper marketing C. Retail convergence D. Wholesaling E. Retailing
question
Many retailers identify three critical factors for retail‚Äč success: location,‚Äč location, and location
answer
Which of the following statements about retailer marketing decisions is‚Äč 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‚Äč success: location,‚Äč location, and location. E. Most retailers seek either high markups on higher volume or low markups on lower volume.
question
‚ÄčIndependents, factory‚Äč outlets, and warehouse clubs
answer
What are the three main types of‚Äč off-price retailers? A. ‚ÄčIndependents, factory‚Äč outlets, and warehouse clubs B. Discount‚Äč stores, convenience‚Äč stores, and supermarkets C. Discount‚Äč stores, factory‚Äč outlets, and warehouse clubs D. ‚ÄčFranchises, factory‚Äč outlets, and warehouse clubs E. Discount‚Äč stores, factory‚Äč outlets, and convenience stores
question
category killers
answer
‚ÄčRecently, superstores that are actually giant specialty‚Äč stores, such as Petco and Home‚Äč Depot, have seen tremendous growth. These types of superstores are called‚Äč __________. A. discount stores B. category killers C. warehouse clubs D. ‚Äčoff-price retailers E. department stores
question
selectively
answer
Firms producing consumer‚Äč electronics, furniture, and home appliance brands typically distribute their products‚Äč __________. A. selectively B. intensively C. through value added resellers D. exclusively E. through franchises
question
A Ford dealer complaining that another Ford dealer is advertising in their territory
answer
Which of the following is an example of horizontal channel‚Äč conflict? A. A Ford dealer complaining that another Ford dealer is advertising in their territory B. A retailer complaining about a‚Äč 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.
question
Channel alternatives should be evaluated against‚Äč economic, control, and adaptability criteria
answer
Which of the following statements regarding marketing channel design is‚Äč correct? A. Marketers should always maximize the number of intermediaries used in a channel. B. Channel alternatives should be evaluated against‚Äč economic, control, and adaptability criteria. C. In global‚Äč 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.
question
‚ÄčWarehousing, inventory‚Äč management, transportation, and logistics information‚Äč management
answer
What are the four major functions of‚Äč logistics? A. Inventory‚Äč management, transportation,‚Äč shipping, and warehousing B. ‚ÄčWarehousing, inventory‚Äč management, transportation, and‚Äč retailing C. ‚ÄčWarehousing, inventory‚Äč management, transportation, and logistics information‚Äč management D. ‚ÄčWarehousing, inventory‚Äč management, retailing, and logistics information management E. ‚ÄčRetailing, inventory‚Äč management, transportation, and logistics information‚Äč management
question
The success of individual channel members depends on the overall‚Äč channel's success
answer
Which of the following statements regarding marketing channel behavior and design is‚Äč correct? A. Vertical marketing systems lack leadership and‚Äč 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‚Äč 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‚Äč producers, wholesalers, and retailers acting as a unified system.
question
matching
answer
One key function of channel members is‚Äč __________, which involves shaping offers to meet the‚Äč buyer's needs, including activities such as‚Äč manufacturing, grading,‚Äč assembling, and packaging. A. contact B. risk taking C. matching D. negotiating E. promotion
question
partner relationship management
answer
Companies now use‚Äč __________ and supply chain management software to help‚Äč recruit, train,‚Äč organize, manage,‚Äč motivate, and evaluate channel partners. A. distribution centers B. channel management C. partner relationship management D. customer relationship management E. logistics
question
Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers
answer
Which of the following is a reason that producers use marketing channels and channel‚Äč intermediaries? A. Using channel intermediaries increases the number of contacts with customers. B. Marketing channel decisions require only a‚Äč 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.
question
corporate
answer
In‚Äč 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‚Äč (VMS)? A. Contractual B. Franchise C. Administered D. Conventional E. Corporate
question
The goal of marketing logistics should be to provide a targeted level of customer service at the least cost
answer
Which of the following statements regarding marketing logistics is‚Äč 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.
question
email
answer
According to the‚Äč text, what can be the ultimate direct marketing‚Äč medium, assuming it is used‚Äč correctly? A. Blogs B. Email C. Online advertising D. Social media E. Websites
question
easy, convenient, and private
answer
Buyers have increased their use of direct and digital marketing because they are‚Äč __________. A. ‚Äčconvenient, private, and hard to use B. ‚Äčeasy, private, and expensive C. ‚Äčeasy, convenient, and public D. ‚Äčeasy, convenient, and private E. ‚Äčeasy, convenient, and impersonal
question
Online‚Äč marketing, social media‚Äč marketing, and mobile marketing
answer
Which of the following correctly identifies forms of digital direct‚Äč marketing? A. ‚ÄčTelemarketing, face-to-face‚Äč selling, and kiosk marketing B. ‚ÄčDirect-response TV‚Äč marketing, telemarketing, and‚Äč direct-mail marketing C. Kiosk‚Äč marketing, telemarketing, and‚Äč direct-response TV marketing D. ‚ÄčTelemarketing, direct-mail‚Äč marketing, and catalog marketing E. Online‚Äč marketing, social media‚Äč marketing, and mobile marketing
question
direct and digital marketing
answer
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‚Äč relationships? A. Personal selling B. Sales promotion C. Direct and digital marketing D. Public relations E. Advertising
question
birdpost
answer
Which of the following would represent a niche online social networking‚Äč site? A. YouTube B. Facebook C. Birdpost D. ‚ÄčGoogle+ E. LinkedIn
question
brand community
answer
Many company websites are now designed to do more than just sell product. These‚Äč websites, known as‚Äč __________ 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. ‚Äčbrand-sponsored E. branded
question
permission based email marketing
answer
To avoid being intrusive and‚Äč annoying, most legitimate email marketers practice‚Äč __________, which means sending email pitches only to customers who‚Äč "opt in." A. permission based email marketing B. unsolicited email marketing C. spamming D. personalized email E. viral marketing
question
kiosk
answer
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‚Äč tool? A. DRTV B. Infomercial C. Kiosk D. ZoomSystem E. iTV
question
blogs are a user controlled medium
answer
Which of the following is a potential disadvantage to using blogs for‚Äč marketing? A. Blogs are a‚Äč one-way communication channel. B. Blogs are a‚Äč user-controlled medium. C. Blogs are only available from third parties. D. Blogs are impersonal. E. Blogs have limited reach.
question
direct, one to one communications
answer
Direct mail is well suited for which of the‚Äč following? A. ‚ÄčReal-time marketing B. Engaging customers anytime and anywhere during the buying process C. Offering interactive content D. ‚ÄčDirect, one-to-one communications E. Building brand community
question
damage customer relationships
answer
Some companies still treat sales and marketing as separate functions. One effect this can have is to‚Äč __________. A. improve coordination between the two departments B. improve the relationships between the two departments C. improve the‚Äč company's performance D. allow marketing to be more in touch with customers E. damage customer relationships
question
A fixed‚Äč amount, a variable‚Äč amount, expenses, and fringe benefits
answer
What are the four elements of a compensation plan for‚Äč salespeople? A. A fixed‚Äč amount, a variable‚Äč amount, expenses, and salary B. A fixed‚Äč amount, a variable‚Äč amount, expenses, and fringe benefits C. A fixed‚Äč amount, a variable‚Äč amount, salary, and commission D. A fixed‚Äč amount, a variable‚Äč amount, expenses, and commission E. A fixed‚Äč amount, a variable‚Äč amount, stock‚Äč ownership, and fringe benefits
question
social selling
answer
According to the‚Äč text, what is the‚Äč fastest-growing sales trend‚Äč today? A. ‚ÄčCommission-based compensation plans B. Using a field based sales force C. Social selling D. ‚Äče-learning E. The use of sales quotas
question
The best salespeople are the ones who work closely with customers for mutual gain.
answer
Which of the following statements is true regarding‚Äč 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.
question
evaluating
answer
Sales‚Äč reports, call‚Äč reports, and expense reports are all used in the process of‚Äč __________ salespeople. A. supervising B. motivating C. evaluating D. training E. selecting
question
premiums
answer
One consumer promotion tool is‚Äč __________, 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. ‚Äčpoint-of-purchase promotions E. rebates
question
handle objections
answer
After the presentation and demonstration step in the sales‚Äč process, a salesperson should next be prepared to‚Äč __________. A. approach qualified customers B. ‚Äčfollow-up with the customer C. immediately close the sale D. prospect the customer E. handle objections
question
customer
answer
Procter‚Äč & Gamble organizes its sales reps into‚Äč teams, and each team is assigned to a major account‚Äč (such as Safeway or‚Äč Walmart). Which type of sales force structure is‚Äč P&G using in this‚Äč example? A. Territorial B. Product C. Simple D. Customer E. Complex
question
event marketing
answer
Delta Faucet partnered with Warrior‚Äč Dash, which sponsored several 5k mud run races around the country over the summer. At each‚Äč event, Delta built a huge custom shower‚Äč station, complete with 184 Delta‚Äč showerheads, where‚Äč mud-soaked competitors could meet and wash off after the race. This is an example of which type of‚Äč promotion? A. Samples B. ‚ÄčPoint-of-purchase promotions C. Trade show D. ‚ÄčContests, sweepstakes, and games E. Event marketing
question
designing sales forced strategy and structure
answer
What is the first decision made in sales force‚Äč management? A. Training salespeople B. Recruiting and selecting salespeople C. Evaluating salespeople D. Compensating salespeople E. Designing sales force strategy and structure
question
communicate well
answer
Regardless of the size of the‚Äč budget, to‚Äč succeed, advertising must engage consumers and‚Äč __________. A. use humor B. communicate well C. reduce the clutter D. attack competitors E. entertain them
question
written materials
answer
Annual‚Äč reports, brochures,‚Äč articles, and company newsletters all represent which type of PR‚Äč tool? A. Written materials B. Special events C. Corporate identity materials D. News E. Audiovisual materials
question
Determining‚Äč reach, frequency,‚Äč impact, and engagement
answer
What is the first step in the media selection‚Äč process? A. Determining the tone of the ad B. Choosing the media timing C. Choosing the media vehicle D. Determining‚Äč reach, frequency,‚Äč impact, and engagement E. Choosing the media type
question
the qualitative value of exposure to a message
answer
What is media‚Äč 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
question
To make ads and brand content into something that people actually want to watch
answer
What is the intent of‚Äč 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
question
New products typically need relatively large advertising budgets to build awareness and to gain consumer trial
answer
Which of the following statements about setting an advertising budget is‚Äč 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‚Äč 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.
question
development
answer
Which public relations function is used to work with donors or members of nonprofit organizations to gain financial or volunteer‚Äč support? A. Development B. Product publicity C. Press relations D. Public affairs E. Lobbying
question
comparative advertising
answer
When a company directly or indirectly compares its brand with one or more other brands in an‚Äč advertisement, they are using‚Äč __________. A. competitive advertising B. informative advertising C. reminder advertising D. comparative advertising E. an unethical practice
question
In addition to‚Äč businesses, advertising is used by many types of organizations
answer
Which of the following statements about advertising is‚Äč correct? A. In addition to‚Äč businesses, advertising is used by many types of organizations. B. Advertising is synonymous with public relations. C. Over‚Äč time, advertising has changed very little. D. Advertising is not useful for persuading an audience. E. Advertising began in the early‚Äč 1800's.
question
reminder
answer
Which type of advertising is important for‚Äč mature, established‚Äč brands? A. Informative B. Persuasive C. Comparative D. Reminder E. Attack
question
major media, atmospheres, and events
answer
Nonpersonal communication channels include‚Äč __________. A. major‚Äč media, events, and buzz marketing B. major‚Äč media, email, and events C. major‚Äč media, atmospheres, and Internet chat D. major‚Äč media, atmospheres, and events E. major‚Äč media, Internet‚Äč chat, and events
question
consumers‚Äč don't distinguish between content sources the way marketers do
answer
One reason there is a need for integrated marketing communications is that‚Äč __________. A. messages from companies come from a single source. B. communication channels today are less fragmented than in the past. C. consumers‚Äč don't distinguish between content sources the way marketers do. D. companies often integrate their various communication channels. E. consumers today distinguish‚Äč brand-related content from different sources
question
sales promotion
answer
‚Äč__________ is the promotion mix tool that consists of‚Äč 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
question
buzz marketing
answer
‚Äč__________ 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
question
direct and digital marketing
answer
‚Äč__________ 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
question
advertising
answer
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‚Äč use? A. Advertising B. Direct and digital marketing C. Sales promotion D. Personal selling E. Public relations
question
personal selling
answer
Which promotional tool includes‚Äč presentations, trade‚Äč shows, and incentive‚Äč programs? A. Advertising B. Sales promotion C. Direct and digital marketing D. Public relations E. Personal selling
question
identifying the target audience
answer
Developing effective marketing communications starts with‚Äč __________. A. determining the communication objectives B. identifying the‚Äč consumer's buyer readiness stage C. designing a message D. collecting feedback E. identifying the target audience
question
video convergence
answer
A recent study showed that more than‚Äč two-thirds of advertisers are planning video ad campaigns that stretch across multiple viewing platforms. This is called‚Äč __________. A. video reach B. video integration C. video coordination D. video convergence E. platform coordination
question
The dominance of‚Äč television, magazines,‚Äč newspapers, and other traditional mass media is declining
answer
Which of the following statements regarding the changing communications landscape is‚Äč correct? A. The dominance of‚Äč television, magazines,‚Äč 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‚Äč communication, today's consumers are less empowered. E. More than‚Äč ever, consumers are relying on marketers for information.
question
‚ÄčLicensing, contract‚Äč manufacturing, management‚Äč contracting, and joint ownership
answer
What are the four types of joint venture entry‚Äč strategies? A. ‚ÄčLicensing, contract‚Äč manufacturing, management‚Äč contracting, and joint ownership B. ‚ÄčLicensing, contract‚Äč manufacturing, management‚Äč contracting, and direct investment C. ‚ÄčExporting, contract‚Äč manufacturing, management‚Äč contracting, and joint ownership D. Contract‚Äč manufacturing, management‚Äč contracting, joint‚Äč ownership, and direct investment E. ‚ÄčExporting, direct‚Äč investment, licensing, and joint ownership
question
barter
answer
Nations that have too little hard currency to pay for their purchases from other countries will often use which method of international‚Äč trade? A. Cash transactions B. Free trade zones C. Credit D. Tariffs E. Barter
question
nontariff trade barriers
answer
One barrier to international trade is when a country imposes biases against‚Äč bids, restrictive product‚Äč standards, or excessive‚Äč host-country regulations or enforcement. These actions represent‚Äč __________. A. exchange controls B. quotas C. duties D. nontariff trade barriers E. tariffs
question
through exporting
answer
What is the simplest way to enter a foreign‚Äč market? A. Through joint venturing B. Through direct investment C. Through exporting D. Through licensing E. Through joint ownership
question
subsistence economies
answer
Which type of industrial structure offers the fewest marketing‚Äč opportunities? A. Raw material exporting economies B. Industrial economies C. Subsistence economies D. Free trade zones E. Emerging economies
question
geographical organizations
answer
In which form of international organization are country managers responsible for‚Äč salespeople, sales‚Äč branches, distributors, and licensees in their respective‚Äč countries? A. Export department B. Geographical organizations C. International subsidiaries D. World product groups E. Global organization
question
the world trade organization
answer
Which organization was designed to reassess trade‚Äč barriers, establish new rules for international‚Äč trade, impose international trade‚Äč sanctions, and mediate global trade‚Äč disputes? A. The General Agreement on Tariffs and Trade‚Äč (GATT) B. The World Trade Organization‚Äč (WTO) C. The European Union‚Äč (EU) D. The Transatlantic Trade and Investment Partnership‚Äč (TTIP) E. The North American Free Trade Agreement‚Äč (NAFTA)
question
the risks the firm faces
answer
What is the main disadvantage of direct‚Äč 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
question
a straight product extension
answer
Apple‚Äč iPads, Gillette‚Äč razors, and Black‚Äč & Decker tools are all sold successfully in about the same form around the world. This is an example of which global‚Äč strategy? A. Communication adaptation B. A straight product extension C. Product invention D. Product adaptation E. Dual adaptation
question
For most‚Äč companies, their foreign prices probably will be higher than their domestic prices for comparable products
answer
Which of the following statements is true regarding pricing in global‚Äč markets? A. Technological forces have had little impact on global pricing. B. Companies generally use a standard‚Äč 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‚Äč companies, their foreign prices probably will be higher than their domestic prices for comparable products.
question
identify a unique customer insight
answer
Much of‚Äč Pinterest's success is due to how they used marketing information to‚Äč __________. 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
question
Reaching respondents in other parts of the world is more difficult than it is in the United States
answer
Which of the following statements regarding conducting marketing research in a foreign country is‚Äč 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‚Äč down, so international research is no longer necessary.
question
extranets
answer
Companies setup‚Äč __________ which allow key customers and‚Äč value-network members to access‚Äč product, account, and other data anytime they need to. A. data warehouses B. extranets C. websites D. intranets E. wireless networks
question
it is used to make better marketing decisions
answer
Using marketing information to gain customer insights is of little value unless‚Äč __________. 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
question
ethnographic research
answer
Sending observers to watch and interact with consumers in their‚Äč natural environment is known as‚Äč __________. A. a focus group B. survey research C. ‚Äčon-site research D. ethnographic research E. experimental research
question
A good MIS must balance what users would like to have against what they really need and what is feasible to offer
answer
Which of the following statements about marketing information systems‚Äč (MIS) is‚Äč 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‚Äč company's internal users. E. A good MIS gives managers all the information they ask for.
question
The goal of competitive marketing intelligence is to improve strategic decision making.
answer
Which of the following statement regarding competitive marketing intelligence is‚Äč correct? A. Companies should not be concerned about‚Äč competitor's accessing publicly available information about them. B. The goal of competitive marketing intelligence is to improve strategic decision making. C. Monitoring a‚Äč 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.
question
questionnaires and mechanical devices
answer
What are the two main research instruments used by marketing researchers in primary data‚Äč 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
question
they can be accessed quickly and cheaply
answer
Which of the following is an advantage to using internal databases for‚Äč 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
question
develop the research plan
answer
After defining the problem and‚Äč objectives, what is the next step in the marketing research‚Äč process? A. Analyze the dat B. Implement the plan. C. Report the findings. D. Collect the dat E. Develop the research plan.
Get an explanation on any task
Get unstuck with the help of our AI assistant in seconds
New