Question 1

Questor Corporation owns the Spalding brand name but does not produce a single golf club or tennis ball. This arrangement is an example of what type of involvement level for international marketing?

Accepted Answer

Licensing

Question 2

Which of the following describes a company hiring a foreign firm to produce a designated volume of its product to specification?

Accepted Answer

Contract manufacturing

Question 3

Toshiba Electronics is very interested in taking advantage of business opportunities in India but does not have access to India\'s market. Toshiba has the patent on a low-cost, quality computer system that could assist small businesses in India. Sony Computer, Toshiba\'s competitor, is experienced in India\'s small business market but does not have a computer comparable to Toshiba\'s. If Toshiba and Sony work together to utilize these strengths to seize this opportunity in India, what type of business structure would they likely use?

Accepted Answer

Strategic alliance

Question 4

According to Nielsen Marketing Research, consumers spend more time on ____ than e-mail.

Accepted Answer

social networking sites

Question 5

Sam\'s Club has developed a website that allows employees to create a profile and connect with co-workers for the purpose of getting acquainted and building a work related network. This is an example of a

Accepted Answer

social network.

Question 6

Digital media such as blogs allow marketers to interact with prospective customers in

Accepted Answer

Real time

Question 7

Marketing strategists say businesses ____ consumers via social media.

Accepted Answer

should connect to

Question 8

The fastest-growing group on Facebook is

Accepted Answer

women aged 55 and over.

Question 9

IHOP is active on Facebook for the purpose of engaging in ____ marketing.

Accepted Answer

Relationship

Question 10

KFC has restaurants in Mexico where Inactives make up the majority of the online population. To match their marketing efforts with the characteristics of the population, KFC should

Accepted Answer

focus more on traditional promotions rather than social networking.

Question 11

Sears sells online through its website, while also selling through physical store locations. This type of retailing is referred to as

Accepted Answer

bricks-and-clicks.

Question 12

The ability to process orders electronically and increase the speed of communications via the Internet reduces

Accepted Answer

distribution costs

Question 13

____ relates to perceptions of value and is the most flexible element of the marketing mix.

Accepted Answer

Pricing

Question 14

Dell hosted an online contest for innovative keyboard designs. This is an example of

Accepted Answer

Opinion gathering

Question 15

Dell hosted an online contest for innovative keyboard designs. This is an example of

Accepted Answer

Crowdsourcing

Question 16

Johnson & Johnson learns about consumer needs by understanding the environment in which a product is used and the different applications of the product. The company uses ____ as a research tool to gain this information.

Accepted Answer

Social networking

Question 17

Due to consumer concerns over privacy, the ____ is considering regulations that would limit the amount of consumer information that marketers can gather online.

Accepted Answer

Federal Trade Commission

Question 18

Cognitive, affective, and behavioral are the three major components of

Accepted Answer

attitudes.

Question 19

Changing people\'s attitudes toward a firm and its marketing program is

Accepted Answer

a long, expensive, and difficult task that may require extensive advertising campaigns.

Question 20

The development of a person\'s self-concept is a function of

Accepted Answer

psychological and social factors.

Question 21

A consumer\'s buying decisions are affected in part by the people around him or her. Such people and the forces they exert on an individual buyer are called

Accepted Answer

social influences.

Question 22

Jennifer is interested in joining Kappa Lambda Iota sorority. She begins to shop at Sarah\'s, a local store where the Kappas buy their clothes. She also asks her family for a new car because all the sorority members have new cars. In these instances, Jennifer is influenced by

Accepted Answer

a reference group.

Question 23

Marketers who attempt to use reference-group influence in advertisements are most likely to succeed when messages indicate that

Accepted Answer

People and are highly satisfied by it.A group becomes a reference group for an individual when that person identifies with this group so strongly that he or she

Question 24

Which one of the following is most likely to be a product for which both the purchasing decision and the brand decision are strongly influenced by reference groups?

Accepted Answer

Jeans

Question 25

Market researchers for a local bakery determined that Jewish people consume 63 percent of the portion of bagels sold in New York City. This is an example of ____ influence on consumer buying decision processes.

Accepted Answer

subcultural

Question 26

According to Coleman\'s major social class categories, the social class in our society that favors prestigious schooling, neighborhoods, and brands is the

Accepted Answer

Middle class

Question 27

Which of the following best illustrates how a firm can use a symbol to make an intangible product more tangible?

Accepted Answer

Traveler\'s Insurance umbrella

Question 28

Which of the following is most likely to be considered a convenience good?

Accepted Answer

Gatorade

Question 29

Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.

Accepted Answer

shopping

Question 30

Buyers do not compare alternatives when shopping for ____ products.

Accepted Answer

specialty

Question 31

a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations.

Accepted Answer

A product line is defined as

Question 32

A product mix is best described as

Accepted Answer

all products offered by a firm.

Question 33

Which stage of the product life cycle is characterized by intense competition?

Accepted Answer

Maturity

Question 34

Sales usually start to decline during the ____ stage of the product life cycle.

Accepted Answer

end of the maturity

Question 35

Dish Network satellite TV cut back advertising expenditures to minimum levels and reduced the number of channel members for its industrial satellite product. These actions indicate that its product is in the ___________ stage of its life cycle.

Accepted Answer

decline

Question 36

Which of the following is not a stage in the buyer\'s product adoption process?

Accepted Answer

Exploration

Question 37

What is the primary distinction between a line extension and a product modification?

Accepted Answer

With product modifications, the original product is replaced in the product line while both the old and the new products remain in the case of line extension.

Question 38

The major drawback to using aesthetic modifications is

Accepted Answer

that the value of the modification is determined subjectively.

Question 39

Outback Steakhouse wants to expand its line of food products. The managers sent surveys to customers to determine which food items would appeal to them. Outback is currently in the ____ phase of new-product development.

Accepted Answer

idea generation

Question 40

What step in developing new products involves determining whether the product idea is compatible with company objectives, needs, and resources on a general level?

Accepted Answer

Screening

Question 41

Breakeven analysis is a tool that marketers are likely to employ during the ____ stage of the new-product development process.

Accepted Answer

business analysis

Question 42

Ideally, test marketing should follow which stage in the new-product development process?

Accepted Answer

Product development

Question 43

The test-marketing stage

Accepted Answer

is a sample launching of the entire marketing mix.

Question 44

Which of the following is the most flexible variable in the marketing mix?

Accepted Answer

Price

Question 45

Price is a key element in the marketing mix because it relates directly to

Accepted Answer

the generation of total revenue.

Question 46

When marketers emphasize price as an issue and match or beat the prices of other companies, they are using

Accepted Answer

price competition.

Question 47

A danger associated with engaging in price competition is that competitors can also change prices quickly and aggressively, which can result in a(n) ____ that will be harmful to both companies.

Accepted Answer

price war

Question 48

A measure of sensitivity of demand in relation to changes in price is

Accepted Answer

price elasticity of demand.

Question 49

If a product has an inelastic demand and the manufacturer raises its price,

Accepted Answer

total revenue will increase.

Question 50

Costs that vary directly with changes in the number of units produced or sold are called

Accepted Answer

variable costs.

Question 51

the money a company brings in from selling products equals the amount spent producing the products.

Accepted Answer

At the breakeven point,

Question 52

Markup is measured either as a percentage of ____ or a percentage of ____.

Accepted Answer

selling price; cost

Question 53

Westin Inc. has an objective of achieving a 25 percent return from its overall sales. This is an example of a ____ pricing objective.

Accepted Answer

profit

Question 54

If Nabisco had established a pricing objective of selling one out of every three crackers consumed in the world, it would have established an objective based on

Accepted Answer

market share.

Question 55

Maintaining a certain market share, meeting competitors\' prices, maintaining a favorable image, and achieving price stability are all associated with a ____ pricing objective.

Accepted Answer

status quo

Question 56

Research indicates that both market share and ____ are good indicators of profitability.

Accepted Answer

product quality

Question 57

Some grocery stores collect data on competitive prices

Accepted Answer

by using full-time comparison shoppers.

Question 58

Any organization that purchases products for the purpose of reselling them to ultimate consumers is a(n)

Accepted Answer

retailer.

Question 59

Nordstrom\'s, Macy\'s, and JC Penney\'s are all considered

Accepted Answer

department stores.

Question 60

Walmart and Target are both examples of

Accepted Answer

discount stores.

Question 61

As discount stores improve their services and atmosphere as well as raise their prices, the distinction between discount stores and ____ is becoming blurred.

Accepted Answer

department stores

Question 62

A narrow product mix with a deep product line would most likely be carried by

Accepted Answer

specialty retailers.

Question 63

Stores such as T.J. Maxx, Burlington Coat Factory, and Marshalls buy manufacturers\' seconds, overruns, returns, and off-season production runs at below wholesale prices. These firms resell this merchandise to consumers at deep discounts, and are called

Accepted Answer

off-price retailers.

Question 64

Category killers compete primarily on the basis of

Accepted Answer

low prices and enormous product availability.

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