Question 1

One of the outcomes of currency devaluations in a destination country such as Argentina is that the country ____________ as a destination of conventions and meetings.

Accepted Answer

Starts Gaining

Question 2

The most dramatic force shaping our destiny is:

Accepted Answer

Technological

Question 3

\"Project RED\" was the name given to the long-term strategy of which restaurant chain?

Accepted Answer

Red Robin

Question 4

Which of the following is NOT a general trend in the United States?

Accepted Answer

College graduation rates staying roughly the same

Question 5

Companies that diversify too broadly into unfamiliar products or industries can ______ their market focus.

Accepted Answer

Lose

Question 6

The Forum Company found that the cost of retaining a loyal customer is just ____ percent of the cost of attracting a new one

Accepted Answer

20

Question 7

So long as a company sets high standards for service quality, it is not necessary to evaluate its actual performance.

Accepted Answer

False

Question 8

At the Ritz-Carlton, each employee can spend up to _________ to redress a guest grievance

Accepted Answer

$2,000

Question 9

Hotel developers generally have lower barriers to entry than restaurant developers

Accepted Answer

False

Question 10

There is no current evidence to suggest that long-term customers are more profitable than new customers

Accepted Answer

False

Question 11

Critics of strategic alliances point out the high failure rate of such alliances, which is probably unfair, since short-term objectives may have been met.

Accepted Answer

True

Question 12

According to the Ansoff product-market expansion grid, management should first consider whether:

Accepted Answer

It should gain more market share with its current products in their current market

Question 13

The number of women in the American workforce is approaching 30 percent

Accepted Answer

False

Question 14

To reduce uncertainty caused by service intangibility, buyers look for whatever tangible evidence they can find that will provide information about the service

Accepted Answer

True

Question 15

During recessions or oil shortages, people rarely travel

Accepted Answer

False

Question 16

The hotel industry characteristically has a _______________ barrier to exit.

Accepted Answer

High

Question 17

Overbooking is another method that hotels, restaurants, trains, and airlines use to match:

Accepted Answer

Demand with capacity

Question 18

Perhaps the best measure of service quality is:

Accepted Answer

Customer retention

Question 19

A product can be:

Accepted Answer

tangible or intangible

Question 20

A system of values and beliefs in an organization that reinforces the idea that providing the customer with quality service is the principal concern of the business is called __________________.

Accepted Answer

Service culture

Question 21

Which of the following is one of the four Ps of the marketing mix?

Accepted Answer

Place

Question 22

Good marketers have two methods-marketing intelligence and marketing research-for collecting information about the environment

Accepted Answer

True

Question 23

Defining people by their birthrate may be less valuable to marketers than defining them by their life stage or lifestyle.

Accepted Answer

True

Question 24

Relationship marketing is a process where marketers work at building relationships with customers, distributors, dealers, and:

Accepted Answer

Suppliers

Question 25

Which of the following is not an example of a marketing intermediary?

Accepted Answer

Next-day delivery providers

Question 26

_____________ may also have a strong influence on family buying decisions.

Accepted Answer

Children

Question 27

Formulating competitive positioning for a product and a detailed marketing mix is called:

Accepted Answer

Market positioning

Question 28

The type of research used to gather preliminary information to help generate a research hypothesis is called:

Accepted Answer

Exploratory research

Question 29

Status is the general esteem given to someone fulfilling his/her role in society.

Accepted Answer

True

Question 30

Deciders are the individuals that will actually use the product being purchased.

Accepted Answer

False

Question 31

Which of the following is not a part of the psychographic variable?

Accepted Answer

Loyalty

Question 32

________________________ are the most affluent U.S. demographic segment.

Accepted Answer

Asian American

Question 33

The three stages of target marketing are market segmentation, market targeting, and:

Accepted Answer

Market positioning

Question 34

Among the four contact methods-mail, telephone, personal, and online-which is the poorest in terms of costs?

Accepted Answer

Personal

Question 35

Which of the following is NOT a part of the SMERF market?

Accepted Answer

Economic

Question 36

In an Organizational Buying process, ____________ select product requirements and suppliers.

Accepted Answer

Deciders

Question 37

Which American social class comprises the largest part of the population?

Accepted Answer

Working (38%)

Question 38

Mail questionnaires are very expensive per respondent compared to other survey methods.

Accepted Answer

False

Question 39

People from which country are likely to expect promptness and prefer quick, unfriendly service over having a conversation with the service provider?

Accepted Answer

Japan

Question 40

Organizational demand that ultimately comes from the demand for consumer goods is called:

Accepted Answer

Derived demand

Question 41

Most human behavior is learned

Accepted Answer

True

Question 42

A segment may have desirable size and growth and still not offer attractive profits.

Accepted Answer

True

Question 43

________ is the most widely used method of primary data collection.

Accepted Answer

Survey research

Question 44

Individuals that have the power to prevent sellers from reaching the buying center are called:

Accepted Answer

Gatekeepers

Question 45

Which of the following provides the highest opportunity for upsell?

Accepted Answer

Meetings

Question 46

SRI\'s VALS framework is one of many different psychographic segmentation systems available today.

Accepted Answer

False

Question 47

Incentive travel, a unique subset of corporate group business, is a reward that participants receive for _________________________.

Accepted Answer

Achieving or exceeding a goal

Question 48

Actionability is the degree to which the segment\'s size and purchasing power can be measured.

Accepted Answer

False

Question 49

Will a school system pension fund with investments across all continents be considered a SMERF group?

Accepted Answer

No

Question 50

A marketing research project where the objective is to describe the size and composition of the market is called:

Accepted Answer

Descriptive research

Question 51

Marketing tests give management the information it needs to make a final decision about:

Accepted Answer

Launching a new product

Question 52

Making direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships is known as:

Accepted Answer

Direct marketing

Question 53

The sequence of integrated direct marketing technique is:

Accepted Answer

Paid ad with a response channel > Direct mail mechanism > Outbound telemarketing > Face-to-face sales calls

Question 54

The services or goods that must be present for the guest to use the core product are called:

Accepted Answer

Facilitating products

Question 55

In the joining stage of the customer delivery system:

Accepted Answer

The customer makes the initial inquiry contact

Question 56

The most important source of new product ideas is:

Accepted Answer

Customers

Question 57

Advertising costs are continuing to rise, and audience reach is continuing to fall.

Accepted Answer

True

Question 58

Corporate communications is a branch of public relations that is limited to business-to-business publicity.

Accepted Answer

False

Question 59

Advising management about public issues and company positions and image is called:

Accepted Answer

Counseling

Question 60

The most basic type of website is the:

Accepted Answer

Corporate website

Question 61

The process of sourcing ideas by inviting broad communities of people is called:

Accepted Answer

Crowdsourcing

Question 62

Only in a few cases have sales promotions given consumers the impression that profit margins were unreasonably high to start with.

Accepted Answer

False

Question 63

Samples do not have to be free

Accepted Answer

True

Question 64

In one study, researchers found that about 50 percent of restaurant customers were willing to pay a little more for brand-name products.

Accepted Answer

True

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