question

As discussed in class, an agreement whereby a seller agrees to sell a product only on the condition that buyer purchases other merchandise from the seller is called:

answer

a tying agreement.

question

(p. 72) NAFTA:

answer

A. is a free-trade pact between the U.S., Canada, and Mexico. B. is a long-term proposition. C. has eliminated most trade barriers with Mexico in the past 15 years. D. all of the above.

question

(p. 40) A "marketing plan":

answer

includes the time-related details for carrying out a marketing strategy.

question

(p. 42) A "marketing program":

answer

blends all of a firm's marketing plans into one big plan.

question

As discussed in class, which officer in the company is frequently described as the Chief Marketing Officer?

answer

The CEO

question

The major problem with observation research is:

answer

it tells what people are doing, but not why they are doing it.

question

As discussed in class, the objective of the marketing information system is to:

answer

reduce decision risk.

question

(p. 17) Which of the following is MOST LIKELY to be found in a production-oriented firm?

answer

A. Agreements among departments about how to improve customer satisfaction. B. Making products that are easy to produce.(CORRECT) C. Producing goods that exactly meet the customer's needs. D. A focus on profit rather than sales.

question

(p. 43) Which of the following statements about customer equity is FALSE?

answer

A. Expected losses depend on customer equity. B. If the parts of a firm's marketing program work well together, it should increase the firm's customer equity. C. Expected profits depend on customer equity. D. If a firm has more than one marketing strategy, it will likely decrease the firm's customer equity. (CORRECT ANSWER)

question

(p. 211) One of the major disadvantages of the focus group interview approach is that

answer

it is difficult to measure the results objectively.

question

(p. 207) When a marketing manager scans a firm's MIS to try to obtain information about why the firm's product sales are down, this is an example of a(n):

answer

situation analysis.

question

(p. 50) When Colgate encourages its current customers to brush more often by taking their toothbrush and toothpaste to work with them, which market opportunity is Colgate pursuing?

answer

Market penetration

question

(p. 66) Competitive barriers

answer

may make it difficult for a firm to compete in a market.

question

(p. 215) Joy Rinaldo has agreed to participate in marketing research in which she will provide information about her purchases on an ongoing basis. She is probably part of a:

answer

consumer panel.

question

General Electric's strategic planning grid focuses on:

answer

industry attractiveness and business strengths.

question

(p. 63) Regarding the competitive environment, a marketing manager usually can:

answer

choose strategies to avoid head-on competition.

question

As discussed in class, a strategic or key business unit:

answer

A. is treated as a separate profit center. B. has a defined set of competitors. C. has its own mission statement. D. Two of the above. E. Three of the above. (Correct)

question

(p. 6) Marketing encourages research and _______________, the development and spread of new ideas, goods and services.

answer

innovation

question

(p. 48) Differentiation of a firm's marketing mix:

answer

May provide the firm with a competitive advantage in the marketplace.

question

(p. 59) According to the text, which of the following is NOT a basic guideline for setting a firm's objectives?

answer

Identifying its current and prospective competitors.

question

(p. 8) Societies need a macro-marketing system

answer

to help match supply and demand.

question

(p. 209) Which of the following is probably NOT a part of a situation analysis?

answer

A computer company asks ten lawyers to participate in a focus group on how they use computers.

question

(p. 70) Which of the following statements about the technological environment is NOT TRUE?

answer

The transfer of technology from one part of the world to another is automatic.

question

24. Which of the following statements are true?

answer

A. Copyrights protect ideas once they have been reduced to a tangible form. B. Copyrights do not protect the idea themselves, only the expressions of the idea. C. A copyright is for the life of the author , plus 50 years. D. Two of the above. E. All of the above. (Correct)

question

. (p. 208) All of the following are examples of secondary data sources EXCEPT:

answer

a phone survey this month of past customers.

question

(p. 7) Effective marketing should begin with

answer

potential customer needs.

question

As discussed in class, which of the following are defenses to the Robinson-Patman Act?

answer

A. Cost justification. B. Changing market conditions. C. Distinct markets. D. Two of the above. E. Three of the above. (CORRECT)

question

As discussed in class, if everyone in a population is questioned, the analyst has performed a:

answer

A. population study. B. population - census study. C. census. D. stratified population study. E. Two of the above. ACCEPTING B, C & E AS CORRECT

question

(p. 6) The text stresses that:

answer

marketing is a social process and a set of activities performed by organizations.

question

As discussed in class, a marketing plan that involves "present markets" and "new products" is called:

answer

product development.

question

(p. 74) Which of the following U.S. antimonopoly laws deals with conspiracy to fix prices?

answer

Sherman Act (1890)

question

As discussed in class, it is important to study marketing because:

answer

many people work as marketing executives in volunteer or regularly paid positions for non-profit organizations.

question

As discussed in class, Henry Ford understood that customers wanted to purchase:

answer

inexpensive transportation.

question

As discussed in class, the FTC cooling off rule states that:

answer

a product or service costing $25 or more that is purchased from a door-to-door salesperson may be cancelled in 72 hours with the buyer receiving a full refund.

question

(p. 64) In monopolistic competition,

answer

each competitor tries to get control in its "own" target market.

question

As discussed in class, the modern definition of value is:

answer

quality, plus convenience, plus service, plus experience, plus innovation, divided by price.

question

(p. 205) The scientific method

answer

is an orderly and objective approach to judging how good an idea really is.

question

(p. 61) Company objectives

answer

guide managers as they search for and evaluate opportunities.

question

Trademarks last:

answer

forever.

question

(p. 15) The text considers five "eras" of marketing evolution. Which of the following shows the logical order in which these eras occur?

answer

Simple trade, production, sales, marketing department, marketing company

question

(p. 10) The buying function of marketing involves

answer

looking for and evaluating goods and services.

question

(p. 38) ______ refers to personal communication between a seller and a customer who wants the seller to resolve a problem with a purchase.

answer

Customer service

question

(p. 12) An economic system in which government planners determine production levels is known as

answer

a command economic system.

question

(p. 33) Marketing strategies

answer

are not whole-company plans.

question

(p. 69) The _____ refers to how much one country's money is worth in another country's money.

answer

exchange rate

question

(p. 202) An outside sales force can provide customers with up-to-date inventory levels, product prices, delivery dates, and so forth by accessing information on the firm's own:

answer

A. marketing model. B. marketing dashboard. C. intranet. D. JIT system. E. EDI system. ACCEPTING B & C AS CORRECT

question

(p. 36) A "channel of distribution":

answer

is any series of firms (or individuals) from producer to final user or consumer.

question

(p. 9) The primary purpose of the transporting and storing functions of marketing is to overcome:

answer

spatial separation.

question

(p. 213) Which variation of personal interview surveys helps reduce the cost of locating consumer respondents?

answer

Mall intercept interviews

question

(p. 200) Marketing research:

answer

is needed to keep marketing managers in touch with their markets.

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