Multiple choice

Question 1

Touch Point represents the level at which the firm stars to make a profit.

true or false

Answer 1

false

Question 1

A vendor for Ford Motor Company received the following message from one of Ford’s marketing managers: “As we move forward during the
21st century, it is incumbent upon us to inform you that Ford is committed to building profitable customer relationships by creating
environmentally better cars and getting them to market faster at lower costs.
“ The marketing manager is most likely referring to Ford’s
________.

Selecione uma opção de resposta:
1. business objectives
2. market tactics
3. business portfolio
4. mission statement
5. vision statement

Answer 1

Mission statement

Question 2

Among the following which is the best advice about creating research questionnaires?

Selecione uma opção de resposta:
1. Ask personal questions in the middle part of the questionnaire.
2. Use difficult vocabulary to differentiate between educated and non-educated respondents.
3. Avoid asking any type personal questions like age and gender since they may make some respondents uncomfortable.
4. Gather individual psychological information because they may reveal ‘hidden’ segments.
5. When the questionnaire has more than 100 questions, questions should be presented in random order to keep respondents
engaged.

Answer 2

4. Gather individual psychological information because they may reveal ‘hidden’ segments.

Question 3

We discussed a research project where the researchers found that the convenience stores that sold more tended to have poorer customer
service (i.e., store personnel did not greet, smile, talk with customers). This research illustrates that:

1. The products sold at convenience stores have a negative brand image.
2. Consumers who buy at convenience stores are usually in a bad mood and tend to score low in happiness surveys.
3. Managers do not always have a good understanding of their own business and the goals of consumers.
4. Convenience stores are a feasible job location for individuals with an introverted personality.
5. Treating certain types of customers poorly can be used to create anger, which tends to motivate buying in convenience stores.

Answer 3

3. Managers do not always have a good understanding of their own business and the goals of consumers.

Question 4

Starbucks has an annual plan in place to deal with the company’s current SBUs and their operations. However, as a growth-oriented firm,
Starbucks is interested in both domestic and international markets. This requires Starbucks to constantly monitor the environment and adapt
to the opportunities with which it is presented. To take advantage of its changing marketing opportunities, it is most important for Starbucks
to have which of the following in place?

1. penetration pricing
2. value-delivery network
3. strategic plan
4. profit analysis
5. supporting objectives

Answer 4

3. strategic plan

Question 5

When a company lengthens its product line beyond its current range, it is ________.

1. product mixing
2. product line filling
3. building brand equity
4. increasing product depth
5. product line stretching

Answer 5

5. product line stretching

Question 6

A key difference between retailing and wholesaling is that:
Selecione uma opção de resposta:
1. Retailers tend to sell at lower prices than do wholesalers.
2. Retailing tends to provide more personalized customer service than wholesaling.
3. Brand image matters more for retailers than to wholesalers.
4. Retailers sell to the end-consumer while wholesalers sell to those buying for resale or business use.
5. Only retailers engage in marketing campaigns while wholesales tend to promote via trade shows.

Answer 6

4. Retailers sell to the end-consumer while wholesalers sell to those buying for resale or business use.

Question 7

_____________ consists of short-term incentives to encourage the immediate purchase of a product or service.

1. Push strategy
2. Re-positioning
3. Introduction strategy
4. Sales promotion
5. Re-branding

Answer 7

4. Sales promotion

Question 8

Consumers use price less to judge the quality of a product when they ________.

1. lack information
2. are shopping for a specialty item
3. have experience with the product
4. cannot physically examine the product
5. lack skills to use the product

Answer 8

3. have experience with the product

Question 9

When it comes to product quality: quality level can vary, quality consistency should not vary.

True or false

Answer 9

True

Question 10

All of the following conditions support market-penetration pricing EXCEPT which one?

1. Production and distribution costs must fall as sales volume increases.
2. The opportunity to raise prices must be present.
3. The market must be highly price sensitive.
4. The low price must help keep out the competition.
5. A low price will produce more market growth.

Answer 10

2. The opportunity to raise prices must be present.

Question 11

We discussed in class research on patronage rewards where the researchers investigated the effect of giving customers a longer loyalty card (with X + 1 slots) where one slot was already stamped versus a regular loyalty card (with X slots). Results of that research showed that:

1. The shorter loyalty card requires less consumer effort, and as a result were completed faster.
2. Loyalty cards of all types have been losing their effectiveness in developed countries.
3. These types of initiatives can bring confusion, and therefore should be avoided.
4. Consumers have an equally negative reaction to both types of loyalty card.
5. Consumers with the longer loyalty card were more likely to complete the remaining empty slots.

Answer 11

5. Consumers with the longer loyalty card were more likely to complete the remaining empty slots.

Question 12

Pricing strategies are influenced by all of the following factors, except:

1. Exchange rates.
2. Political conditions.
3. Recycling patterns.
4. Inflation.
5. Stage of PLC.

Answer 12

3. Recycling patterns.

Question 13

One advantage of using a channel of distribution over selling direct to consumers is that each channel member plays a ________ in the
channel.

1. random role
2. self-interested role
3. specialized role
4. minor role
5. disciplinary role

Answer 13

3. specialized role

Question 14

As talked about in class, all of the following topics are taken into account when deciding where to locate outlet stores, except:

1. Cannibalization.
2. Consumer’s desire to make the trip worthwhile.
3. The distance to airports.
4. Amount of off-season business.
5. Land prices.

Answer 14

3. The distance to airports.

Question 15

________ is the place a product occupies in the consumer’s mind relative to competitors’ products.

1. Product position
2. Cognitive location
3. Product imagination
4. Product placement
5. Market segmentation

Answer 15

1. Product position

Question 16

Demographic variables are frequently used in market segmentation because they ________.

1. create more easily reached segments
2. are easy and cheap to measure
3. involve fewer attributes to consider
4. do not involve stereotypes
5. create smaller segments

Answer 16

2. are easy and cheap to measure

Question 17

Indicate which statement is wrong:

1. Marketing has increasingly lost its status as an authority.
2. Likert scales provide less information than do dichotomous questions.
3. Branding is closely associated with reputation.
4. Low and middle class consumers tend to display their brands more than do the very rich.
5. Fashion comes from people’s desire to identify and distinguish different social classes.

Answer 17

2. Likert scales provide less information than do dichotomous questions.

Question 18

All are characteristics of a service, except?

1. variability
2. incompensability
3. perishability
4. inseparability
5. intangibility

Answer 18

2. incompensability

Question 19

Which of the following is NOT a step in the strategic planning process?

1. designing the business portfolio
2. defining the company mission
3. setting company objectives and goals
4. planning marketing and other functional strategies
5. identifying the company’s culture

Answer 19

5. identifying the company’s culture

Question 20

In which stage of the PLC are promotional expenditures towards consumer awareness especially high?

1. introduction
2. maturity
3. growth
4. adoption
5. product development

Answer 20

1. introduction

Question 21

When General Motors provides payments or price reductions to its new car dealers as rewards for participating in advertising and sales support programs, it is granting a/an
________.

1. promotional allowance
2. price break
3. trade credit
4. functional discount
5. trade discount

Answer 21

1. promotional allowance

Question 22

Companies often set their advertising budget based on percentage-of-sales. Which statement is true about this strategy:

1. It fails to consider sales outside of one’s own country.
2. It leads to higher advertising expenditures.
3. It suffers from a cause-effect problem.
4. It works well for companies in the service sector.
5. It is beneficial for companies in the introduction stage of the PLC.

Answer 22

3. It suffers from a cause-effect problem.

Question 23

Selecting which segments of a population of customers to serve is called
________.

1. segment customization
2. market segmentation
3. individual positioning
4. target marketing
5. selection proposition

Answer 23

4. target marketing

Question 24

________ refers to sellers being preoccupied with their own products and losing touch with underlying consumer needs. 1. Unjustified targeting 2. Marketing myopia 3. The product concept 4. Insensible marketing 5. Selling concentration

Answer 24

2. Marketing myopia

Question 25

A firm is using ________ strategy when it charges a high, premium price for a new product with the intention of reducing the price in the future. 1. prestige pricing 2. price skimming 3. trial pricing 4. penetration pricing 5. value pricing

Answer 25

2. price skimming

Question 26

The third level of a product that product planners consider is a/an ________ around the core benefit and actual product that offers additional consumer services and benefits. 1. image 2. industrial product 3. brand extension 4. brand equity 5. augmented product

Answer 26

5. augmented product

Question 27

When evaluating the success of a sales promotion program, it is important to compare one’s sales to those of one’s competitors so that: 1. One can factor out potential situational variables, like changes in the economic condition. 2. One can evaluate market share and design new marketing initiatives. 3. One can increase prices to a level that is more fair. 4. One can identify possible future competition into the current market. 5. One can imitate competitors’ initiatives.

Answer 27

1. One can factor out potential situational variables, like changes in the economic condition.

Question 28

An objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses. 1. guided 2. descriptive 3. quantitative 4. qualitative 5. informative

Answer 28

4. qualitative

Question 29

Public health campaigns to reduce smoking, alcoholism, drug abuse, and overeating are all examples of ________. 1. consumer products 2. beneficial marketing 3. social marketing 4. responsibility marketing 5. shopping products

Answer 29

3. social marketing

Question 30

Value marketing is the strategy of offering consumers ________. 1. luxury quality at a high price 2. little quality at a low price 3. reasonable quality at a fair price 4. lesser quality at a low price 5. high quality at a high price

Answer 30

3. reasonable quality at a fair price

Question 31

Maslow's theory is that ________ can be arranged in a hierarchy. 1. impulsive desires 2. human needs 3. beliefs and attitudes 4. perceptions 5. decisions

Answer 31

2. human needs

Question 32

In general, a company should enter only segments in which it can ________ and ________. 1. offer superior value; ship faster 2. offer lower prices; ship faster 3. identify behaviors; understand spending power 4. gain advantages over competitors; offer new products 5. offer superior value; gain advantages over competitors

Answer 32

5. offer superior value; gain advantages over competitors

Question 33

In order to keep the value of the brand, franchisors want franchisees to engage in good business practices. However, franchisees may deviate and provide low quality products, unclean stores, poor customer service, etc. The franchisee is likely to deviate from the desired standards in all of the following circumstances, except: 1. When the franchisee does not plan on owning more stores in the future. 2. When the franchisee is in business for a long time. 3. When the franchisee owns one or only a few stores. 4. When the franchisee is required to pay high royalties to the franchisor. 5. When repurchase likelihood is low.

Answer 33

2. When the franchisee is in business for a long time.

Question 34

Often, major purchases result in ________, or psychological discomfort caused by post-purchase psychological conflict. 1. need recognition 2. cognitive ligitimization 3. dissatisfaction 4. cognitive dissonance 5. psychological purchase decisions

Answer 34

4. cognitive dissonance

Question 35

________ uses buyers' perceptions of what a product is worth, not the seller's cost, as the key to pricing. 1. Price elasticity 2. Target-return pricing 3. Product image 4. Soft-selling strategy 5. Value-based pricing

Answer 35

5. Value-based pricing

Question 36

More companies are adopting the concept of ________, which carefully coordinates the company's many communication channels to deliver a clear, consistent, and compelling message about the organization and its brands. 1. integrated competitive methods 2. integrated marketing communications 3. buzz marketing 4. integrated personal selling 5. Inonpersonal communication channels

Answer 36

2. integrated marketing communications

Question 37

Suppose that you work for a firm and your manager asks you to study the actors close to the company that affect its ability to serve its customers–departments within the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. What are you studying? 1. the influence environment 2. the global environment 3. the marketing environment 4. the micro environment 5. the detailed environment

Answer 37

4. the micro environment

Question 38

All of the following statement are accurate about modern marketing today, except which one? 1. Marketing is used by for-profit and not-for-profit organizations. 2. Marketing can be used to benefit society. 3. Marketing is no longer considered to be the sole and loudest voice in the marketplace. 4. Selling and advertising are synonymous with marketing. 5. Regular people market themselves.

Answer 38

4. Selling and advertising are synonymous with marketing.

Question 39

Turkish Ceramics Inc. is known for delivering value to customers in a way that maintains or improves both the consumer and society's wellbeing. It can be said that Turkish Ceramics is committed to the ________ concept. 1. brand image 2. product 3. societal marketing 4. selling 5. overall care

Answer 39

3. societal marketing

Question 40

________ are society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors. 1. Cultures 2. Social classes 3. Lifestyles 4. Attitudes 5. Reference groups

Answer 40

2. Social classes

Question 41

________ occurs when two established brand names of different companies are used on the same product. 1. Interchangeable marketing 2. Brand extension 3. Brand Equity 4. Co-branding 5. Dual branding

Answer 41

4. Co-branding

Question 42

Medical Devices Inc. intends to expand to a new market. Based market data and a SWOT analysis showing little competition and an acceptance rate of 93% for its products in that new market, the firm concludes that success is possible. The firm’s conclusion focuses on which letter(s) of the acronym SWOT? 1. S and W 2. O only 3. W and O 4. S and O 5. T only

Answer 42

2. O only

Question 43

As marketing manager for Globe Imports and Exports, you want to start getting the benefits of a multichannel distribution system. Among the benefits that a multichannel system can give you are all of the following, except? 1. lower distribution complexity 2. expanded market coverage 3. lower overall risk 4. opportunities to tailor products and services to the needs of diverse segments 5. opportunity for diverse positioning strategies

Answer 43

1. lower distribution complexity

Question 44

The set of marketing tools a firm uses to implement its marketing strategy is called the ________. 1. marketing mix 2. total quality management 3. just-in-time 4. promotion initiative 5. execution marketing

Answer 44

1. marketing mix

Question 45

Which promotional mix element is most closely associated with activities designed to foster goodwill and understanding with various constituents both inside and outside the company? 1. personal selling 2. public relations 3. commission payment 4. sales promotion 5. advertising

Answer 45

2. public relations

Question 46

Tomato Delicacy, a manufacturer of tomato sauce, has recently launched an advertisement campaign targeting the final consumer (i.e., the person who will consume the sauce) with the message: “Our brand is available in most major supermarkets. If your supermarket does not yet carry our brand, make sure you ask it to do so soon!” Tomato Delicacy is engaging in which type of promotion strategy? 1. Noticeability 2. Final target 3. Pull 4. Demand 5. Forceful

Answer 46

3. Pull

Question 47

A way to encourage the rich and busy consumers to use discount coupons is to make them available via newspapers where these people can look for them, cut them off, and collect them for the next purchase. True or false

Answer 47

False

Question 48

Pain Killer X’s advertisement saying: “No other medicine kills your pain faster than Pain Killer X” is a form of comparative advertisement, as the company is claiming that Pain Killer X kills pain faster than the other brands. True or False

Answer 48

False

Question 49

Personal selling is an inexpensive and outdated form of marketing communication. True or False

Answer 49

False

Question 50

As part of DeWALT’s IMC, it would be advisable to give to customers as gifts the polo shirts that DeWALT managers wear. That way these customers can feel important and can spread word-of-mouth for DeWALT. True or false

Answer 50

False

Question 51

Children start to recognize that advertisement is a form of communication intended to influence them to do something (e.g., to buy) at about the age of 7. True or false

Answer 51

True

Question 52

The strongest brands go beyond attributes or benefit positioning; they are positioned on ________. 1. beliefs and values 2. customer image 3. famous artists and personalities 4. service 5. attachment

Answer 52

1. beliefs and values

Question 53

Winning the lottery is a quick way of moving to a higher social class. True or false

Answer 53

False

Question 54

The 4 categories of factors that affect happieness, What are they and what has research discovered about them?

Question 55

What are the 4Ps? explain a specific decision that company has to make regarding each of the ‘P’s. In your answer, also explain the impact of that decision for the firm and consumers. Do not write definitions. Note that the question is asking about actual examples. Think like a manager.