MKT 291 Exam 2 Quiz Questions – Flashcards
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Once a company has decided to enter the global marketplace, it must select a means of market entry. As the firm moves from exporting to direct investment, the amount of financial commitment, risk, marketing control, and profit potential__________. A becomes more stable B increases C levels off D decreases E becomes more unpredictable
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B increases
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Russia allows the United States to ship up to 60,000 tons of frozen beef into the country annually under its import A WTO tax. B gray market. C tariff. D fair trade exception. E quota.
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E quota
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Back translation is A incorporating a hidden meaning behind the written term in order to capitalize on ethnic diversity. B the practice of translating words from one foreign alphabet to another or when necessary, creating new internationally recognized symbols. C recording the spoken word into a foreign transliteration for universal understanding. D the practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors. E the practice of hiring a professional interpreter to attend all major business meetings to prevent misunderstandings.
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D the practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors.
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Mexican officials claimed that U.S. apple growers were __________ when they appeared to be selling red and golden delicious apples in Mexico for less than the cost of producing them. This resulted in Mexico adding a tariff to these products. A parallel importing B back-channel marketing C dumping D countertrading E microfinancing
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C dumping
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A French cooperative called Sodima allows General Mills to sell Yoplait in the United States in return for a fee, a global market entry strategy known as what? A direct exporting B direct investment C joint venture D licensing E indirect exporting
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D licensing
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Which of the following statements about global brands is most accurate? A- A global brand is marketed under different brand names for every market. B- A global brand alters the product or service formulation for each country. C- A global brand has marketing programs that are coordinated in each individual country where the service is sold to ensure a consistent customer experience. D- A global brand is a collaborative effort among several different multinational firms to ensure that semiotic mistakes do not occur. E- A global brand uses the same product formulation or service concept across multiple countries and cultures.
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E- A global brand uses the same product formulation or service concept across multiple countries and cultures.
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Gerber sells baby food with vegetables and rabbit meat in Poland, and with freeze-dried sardines and rice in Japan. These are examples of what type of global product strategy? A product extension B product customization C product adaptation D product invention E product integration
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C product adaptation
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One argument for protectionism is that it A helps defend a nation's political security. B creates a more loyal and hardworking domestic workforce. C strengthens the economy by encouraging a balance of trade. D instills a sense of nationalism, which in turn protects economic stability. E lowers prices for domestic consumers.
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A helps defend a nation's political security.
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Proctor & Gamble markets its popular multipurpose cleaner as Mr. Clean in North America and Asia but uses several different brand names like Maestro Limpio and Mr. Proper in other parts of the world. These differences arise because P&G is a(n) __________ firm. A multinational B global C international D transglobal E dynamic
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A multinational
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The fact that American women use more cosmetics than American men while French men use twice as many cosmetics as French women is an example of differences in the nations' A social classes. B ethics. C values. D customs. E cultural symbols.
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D customs.
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An advantage of using a panel for marketing research is A the discussion leader can help change negative panel responses into positive ones. B panel members often help each other by bringing up ideas for discussion that others didn't initially think of, but that were important to them. C there will usually be one panel member who dominates the discussion to help keep the conversation focused. D researchers can take successive measurements of consumers to determine if they change their purchasing behaviors over time. E the panel's continuity and representativeness of the population are unchanged when individual members drop out.
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D researchers can take successive measurements of consumers to determine if they change their purchasing behaviors over time.
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The first step in the five-step marketing research approach is to A collect relevant data. B investigate the marketing environment. C develop the research plan. D develop the findings. E define the problem.
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E define the problem.
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__________ assumes that the underlying relationships in the past will continue into the future; the method is simple but not always correct. A Trend extrapolation B Sensitivity analysis C Lost-horse forecasting D Statistical inference E A survey of buyers' intentions
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A Trend extrapolation
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In marketing research, the research objectives are the __________ goals of the decision maker. A causal and actionable B virtual and interactive C actionable and inferential D interdisciplinary and precise E specific and measurable
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E specific and measurable
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In 2015, a marketing manager for New Balance's Minimus shoe needs to forecast sales through 2017. She begins with the known totals for 2014 and adjusts for positive factors like acceptance of new high-tech designs and great publicity, and for negative factors like the slow economy and predicted moves by the competition. This type of forecast is referred to as A trend extrapolation. B direct forecasting. C lost-horse forecasting. D linear trend forecasting. D a survey of buyers' intentions.
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C lost-horse forecasting.
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Through the use of __________, a catalog retailer might determine from its database that customers who purchased silver frames would also have a high probability of buying vintage hatpins. As a result, its sales representatives were instructed to offer a special price on hatpins when a customer places an order for a silver frame. A queries B suggestive selling C sales driver analysis D database management E data mining
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E data mining
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Marketing research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and __________. A recommending actions B creating a new budget and financial plan C tracking the actions of competitors D assembling a task force to identify applicable trends E adopting a global market perspective
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A recommending actions
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The raw information obtained from Kroger grocery store checkout scanners would be considered __________ data. A information technology B observational C questionnaire D inferential E dashboard
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B observational
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All of the following are independent variables a market researcher may use in a marketing experiment EXCEPT: A price. B distribution outlet. C free samples. D unit sales. E product color.
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D unit sales.
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If you were asked in a telephone interview if you planned to vote in the fall elections, and were asked to answer either yes or no, this question would be considered A open-ended. B dichotomous. C Likert scale. D single response. E semantic differential scale.
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B dichotomous.
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Inconsistency in services refers to the fact that A there is no regulation of service industries in terms of basic standards of quality. B the quality of service provided by a firm is often inconsistent with its image. C services depend upon the people who provide them, and the quality of that performance may vary from day to day or employee to employee. D training and standardization of service delivery procedures cannot be accomplished. E there too much idle production capacity.
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C services depend upon the people who provide them, and the quality of that performance may vary from day to day or employee to employee.
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Which of the following is considered a durable good? A a lamp B flour C gasoline D an airplane ticket E a massage
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A a lamp
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A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is referred to as a(n) A ware B product C object D market E merchandise item
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B product
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Google's driverless car is an extreme example of the complexity of which step of the new-product process? A business analysis B idea generation C screening and evaluation D development E commercialization
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D development
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Intel Core processors are purchased by Toshiba for its laptops, and are thus considered what type of business product? A support products B components C supplies D derived products E installations
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B components
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A benefit of performing a SWOT analysis and an environmental scan during the new-product strategy development process is that they A allow the firm to forecast potential sales and form their marketing budget based upon those projections. B help identify which organizational members have an interest or stake in the product's success. C can help identify the strategic role the new product might serve in the firm's portfolio. D narrow the task to a single product rather than a number of product concepts. E allow a firm to expand its objectives to include new ways of thinking.
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C can help identify the strategic role the new product might serve in the firm's portfolio.
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Ideally, before a new product is developed, a firm should have a precise protocol, which is a statement that identifies: (1) what the product will be and do to satisfy consumers; (2) specific customers' needs, wants, and preferences; and (3) __________. A a clear marketing plan B clear financial goals and expectations C a well-defined target market D a comprehensive SWOT analysis E a precise budget of how much can be spent for a F new offering's marketing program
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C a well-defined target market
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Annie's Organic Shells & White Cheddar, an organic macaroni and cheese, is an example of a A product item. B product unit. C product line. D product mix. E product class.
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A product item.
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As consumers demand for Ford cars increases, Ford may increase its demand for paint spraying equipment, which for the latter is an example of __________. A sequential demand B concurrent demand C derived demand D secondary demand E primary demand
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C derived demand
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When a manager at Target announced to customers, "There is no wait in checkout lanes 2 and 5," he recognized a need to manage his A off-peak convenience. B idle production capacity. C selective demand. D intangibility. E inconsistency.
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B idle production capacity.
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Nonprofit service organizations use them, but public service announcements (PSAs) A tie up a very large a percentage of the advertising budget. B are boring and rarely well designed; consumers usually tune them out. C are under the control of the medium where aired, not the organization. D have a very limited reach and frequency. E are an ineffective form of advertising.
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C are under the control of the medium where aired, not the organization.
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Profit margins often peak as competitors enter the market and aggressive pricing strategies take hold. This happens during which stage of the product life cycle? A growth B commercialization C expansion D introduction E maturity
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A growth
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Which of the following statements concerning the pricing of services is most accurate? A Consumers generally find the pricing of consumer services more realistic than the pricing of consumer products. B Service pricing is generally subjective and not based on formulas or break-even points. C Service pricing is relatively insensitive to consumer service quality perceptions. D Service pricing plays a role in balancing consumer demand for services. E Service pricing only considers monetary costs to deliver the service.
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D Service pricing plays a role in balancing consumer demand for services.
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If a customer is reluctant to try a new product because she's afraid of what her friends might think, the company is most likely facing a(n) __________ barrier. A usage B risk C value D emotional E psychological
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E psychological
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The acronym CEM in services marketing stands for __________. A capacity evaluation management B customer experience management C consumer experience marketing D consumer encounter marketing E customer evaluation measurement
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B customer experience management
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Dentyne gum introduced a Split2Fit pack, which is compact package design intended to be separated into two halves to better fit into a pocket or a small purse, or two keep two halves in separate places.This is an example of which type of benefit that packaging can provide? A communication benefits B usage benefits C functional benefits D perceptual benefits E financial benefits
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C functional benefits
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An extended introduction stage of the product life cycle occurs for which type of product? A high learning B low learning C fashion D fad E primary
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A high learning
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Following the 2010 Deepwater Horizon disaster, BP paid for a series of TV advertisements promoting Gulf Coast tourism, probably helping this area to have a record-setting year. This ad campaign was an attempt to stimulate __________ demand. A selective B primary C derived D generic E secondary
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B primary
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Michelin has added a "run-flat" feature to its higher-priced tire lines so that they can travel up to 50 miles at 55 miles per hour after suffering total air loss. The marketing strategy Michelin used is called A market modification. B product extension. C rebranding. D trading up. E downsizing.
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D trading up.
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Skimming or penetration pricing are appropriate pricing strategies during the __________ stage of a product's life cycle. A growth B commercialization C launch D introduction E awareness
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D introduction
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The Publishers Clearinghouse Sweepstakes is an example of which type of promotion? A advertising B publicity C sales promotion D personal selling E direct marketing
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C sales promotion
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When a news story covers a terrible disaster and viewers are asked to send donations to the American Red Cross, the organization benefits from __________. A advertising B cause marketing C publicity D personal selling E a public service announcement
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C publicity
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Which element of the promotional mix has the inherent weaknesses of high absolute costs and difficulty in receiving good feedback? A advertising B personal selling C sales promotion D publicity E direct marketing
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A advertising
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The first step in executing the promotion program is to __________. A set the budget B state the mission C pretest the promotion D select the appeal E select the media
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C pretest the promotion
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The promotional mix consists of communication tools that include advertising, personal selling, sales promotion, direct marketing, and __________. A multicultural marketing B social media C public relations D target marketing E online marketing
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C public relations
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Mass selling refers to A the creation of unique products based upon the needs and wants of individual consumers. B the translation of a company's message into multiple languages for use in advertising in different countries or regions. C the use of different images (such as on the cover of Sports Illustrated) to create a more intimate relationship between buyer and seller. D advertising, sales promotions, and public relations activities that are used with groups of prospective buyers. E the production and sales of a single item that contains no variation of product benefits.
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D advertising, sales promotions, and public relations activities that are used with groups of prospective buyers.
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Which of the following is NOT a factor that would be considered noise in the communication process? A A wrong image is used in a newspaper ad. B The message is considered too ordinary. C A printing mistake in a press release. D A prospect for a firm's product cannot understand the salesperson during a presentation because of her accent. E A radio advertisement uses slang.
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B The message is considered too ordinary.
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At which stage in the product life cycle would a company's promotional objective most likely be to increase the level of consumer awareness? A introduction B growth C maturity D decline E accelerated development
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A introduction
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Factors such as the need for improved reliability and security in postal systems and new government regulations represent important challenges for __________ in the global market. A direct marketing B direct selling C personal selling D direct response marketing E publicity
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A direct marketing
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In the hierarchy of effects, the stage between interest and trial is known as __________. A purchase B awareness C adoption D pilot E evaluation
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E evaluation
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Which of the following is NOT a consumer-oriented sales promotion? A coupon B merchandise allowance C loyalty program D point-of-purchase display E sweepstakes
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B merchandise allowance
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Which of the following statements regarding newspaper as an advertising medium is most accurate? A There are no newspapers with national distribution; all newspapers are local. B Online news services have rekindled an interest in print media news. C More cities are increasing the number of newspapers available in kiosks at mass transit stations for commuters. D Recycling newsprint has led to dramatic costs reductions in production costs. E National ad campaigns for major advertisers like P&G rarely use newspapers unless it is in conjunction with local distributors of their products, such as when they use cooperative advertising.
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E National ad campaigns for major advertisers like P&G rarely use newspapers unless it is in conjunction with local distributors of their products, such as when they use cooperative advertising.
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A few years ago, Young and Rubicam, Inc. developed the "Softer Side of Sears" campaign to target middle-income women. This agency provided research about that segment, media choices, and complete production of advertising for Sears. Young and Rubicam is an example of a(n) A image consultant. B consulting firm. C limited-service advertising agency. D in-house agency. E full-service advertising agency.
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E full-service advertising agency.
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Continuous scheduling would most likely be used for advertising __________. A snow shovels B barbecue grills C school supplies D chewing gum E baseball gloves
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D chewing gum
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Which of the following statements about attitude tests is most accurate? A With attitude tests, product information, product samples, or premiums are offered to an ad's readers or viewers, and ads generating the most inquiries are considered the most effective. B With attitude tests, a question such as, "What ads do you remember seeing yesterday?" is asked of respondents without any other prompting. C Attitude tests involve studies such as controlled experiments and consumer purchase tests. D In an attitude test, respondents are asked questions to measure changes in their attitudes after an advertising campaign. E In an attitude test, respondents are first shown an ad and then asked whether their previous exposure to it was through reading, viewing, or listening.
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D In an attitude test, respondents are asked questions to measure changes in their attitudes after an advertising campaign.
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Many shoe stores have sales during which they offer 50% off the second pair you purchase when you purchase the first pair at full price. This offer is an example of a __________. A rebate B premium C deal D product placement E coupon
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C deal
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Reach refers to A the geographic region to which an advertising campaign will be directed. B the percentage of television sets tuned to a particular program. C the number of different people or households exposed to an advertisement. D the commonly used reference number that equates the customer likeability rating for an advertisement multiplied by its frequency. E the average number of times a person in the target audience is exposed to the advertising message.
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C the number of different people or households exposed to an advertisement.
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Billboard advertising is most effective for __________ advertising. A pioneering B reinforcement C advocacy D comparative E competitive
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B reinforcement
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Which of the following would be conducted before an advertisement was placed in any medium? A sales test B attitude test C aided recall D jury test E inquiry test
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D jury test
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Click fraud refers to A randomly "clicking" numbers to steal a credit card number in order to pay for items online. B using software to run continuous "clicks" in order to give an advantage in playing games or contests to win prizes. C having friends "click" an ad simultaneously to overload a website. D the deceptive clicking of ads solely to increase the amount advertisers must pay. E the practice of going to an advertiser's website to increase the number of "hits" for a product.
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D the deceptive clicking of ads solely to increase the amount advertisers must pay.
