Question 1

Why is product development a long and expensive process?

Accepted Answer

Faced with competition and shifting cons

Question 2

Which of the following, if True about the real estate industry in general, would weaken the Marketing Director's argument?

Accepted Answer

A)  The demand for houses is higher than it was last year. 
B)  The supply of houses for sale is lower than it was last year. 
C)  Sales are generally higher in March than in February. 
D)  Sales are generally higher in April than in March. 
E)  In February, home loan interest rates dropped. 
A)  The demand for houses is higher than it was last year. 
B)  The supply of houses for sale is lower than it was last year. 
C)  Sales are generally higher in March than in February. 
D)  Sales are generally higher in April than in March. 
E)  In February, home loan interest rates dropped.

Question 3

Why do smaller companies have advantages over larger competitors when it comes to the distribution aspect of the marketing mix?

Accepted Answer

A smaller company may be able to address

Question 4

What are the tangible and intangible qualities that a company builds into its products?

Accepted Answer

A)  features 
B)  requirements 
C)  benefits 
D)  safety devices 
E)  guarantees 
A)  features 
B)  requirements 
C)  benefits 
D)  safety devices 
E)  guarantees

Question 5

Sears' Craftsman Tools is an example of a private brand.

Accepted Answer

A) True 
 B)False

Question 6

What elements of Panther's marketing mix might change when going international?

Accepted Answer

The products themselves will likely rema

Question 7

Quinn Clothes is a successful business selling fashionable and athletic swimwear. The marketing staff has said that the company's plan to develop and market waterproof perfumes might be hindered by a lack of experience in the perfume field. Which of the following is the BEST response to that weakness?

Accepted Answer

A)  Hire a chemist to develop the fragrances. 
B)  Seek product ideas from existing staff. 
C)  Employ new graphic designers to develop a new logo. 
D)  Ensure that the perfume can be sold in the same retail stores as the swimwear. 
E)  Rethink the company's promotional approach to selling products. 
A)  Hire a chemist to develop the fragrances. 
B)  Seek product ideas from existing staff. 
C)  Employ new graphic designers to develop a new logo. 
D)  Ensure that the perfume can be sold in the same retail stores as the swimwear. 
E)  Rethink the company's promotional approach to selling products.

Question 8

A firm makes bookcases, bicycles, soft drinks, armored cars, and novelty dishes. What do these items make up?

Accepted Answer

A)  product line 
B)  product variety 
C)  product assortment 
D)  product mix 
E)  product inventory 
A)  product line 
B)  product variety 
C)  product assortment 
D)  product mix 
E)  product inventory

Question 9

Which of the following, if True, would support the CEO's position?

Accepted Answer

A)  Snazzy decided that producing a line of energy drinks would be more profitable than attempting to penetrate international markets. 
B)  Young males, as a group, consume more energy drinks than any other market segment. 
C)  Energy drinks cost more per ounce than other popular beverages. 
D)  Energy drink manufacturers have recently tried to associate their product with positive social causes. 
E)  Different companies define "young" differently. 
A)  Snazzy decided that producing a line of energy drinks would be more profitable than attempting to penetrate international markets. 
B)  Young males, as a group, consume more energy drinks than any other market segment. 
C)  Energy drinks cost more per ounce than other popular beverages. 
D)  Energy drink manufacturers have recently tried to associate their product with positive social causes. 
E)  Different companies define "young" differently.

Question 10

What is data warehousing?

Accepted Answer

A)  a marketing strategy that creates sales agreements that stipulate product delivery 
B)  the process of dividing a market into categories of customer types 
C)  the study of consumer needs and wants and the way in which sellers can best meet them 
D)  the process of collecting, storing, and retrieving data in electronic files 
E)  a customer identification strategy that targets potential buyers 
A)  a marketing strategy that creates sales agreements that stipulate product delivery 
B)  the process of dividing a market into categories of customer types 
C)  the study of consumer needs and wants and the way in which sellers can best meet them 
D)  the process of collecting, storing, and retrieving data in electronic files 
E)  a customer identification strategy that targets potential buyers

Question 11

The director of marketing argues that Dinasonic should use an adaptation strategy for its marketing because its products will need to be adapted to different markets. Which of the following, if True, would strengthen this position?

Accepted Answer

A)  Dinasonic's products have consistently had the most competitive prices in the U.S. market. 
B)  For the kinds of products that Dinasonic makes, preferences for their use vary between different cultures. 
C)  Dinasonic will not face much competition in the countries in which it plans to sell its products. 
D)  Dinasonic will have a limited advertising budget for its international marketing efforts. 
E)  Dinasonic has consistently gained in market share in the United States over the last several years. 
A)  Dinasonic's products have consistently had the most competitive prices in the U.S. market. 
B)  For the kinds of products that Dinasonic makes, preferences for their use vary between different cultures. 
C)  Dinasonic will not face much competition in the countries in which it plans to sell its products. 
D)  Dinasonic will have a limited advertising budget for its international marketing efforts. 
E)  Dinasonic has consistently gained in market share in the United States over the last several years.

Question 12

Noxzema, Prudential, and Minute Maid would be examples of which kind of brand name?

Accepted Answer

A)  licensed 
B)  private 
C)  national 
D)  international 
E)  convenience 
A)  licensed 
B)  private 
C)  national 
D)  international 
E)  convenience

Question 13

Congress has conducted hearings on the use of cell phones while driving. What factors would this constitute in a company's external environment?

Accepted Answer

A)  political-legal 
B)  sociocultural 
C)  technological 
D)  competitive 
E)  demographic 
A)  political-legal 
B)  sociocultural 
C)  technological 
D)  competitive 
E)  demographic

Question 14

Describe the elements of the marketing mix. What is their collective role?

Accepted Answer

The elements of the marketing mix includ

Question 15

A description such as single, aged 20-34, earning $30,000 a year, is an example of a psychographic variable.

Accepted Answer

A) True 
 B)False

Question 16

During the product life cycle, when do sales begin to slow down while profit levels are high?

Accepted Answer

A)  decline 
B)  maturity 
C)  introduction 
D)  growth 
E)  promotion 
A)  decline 
B)  maturity 
C)  introduction 
D)  growth 
E)  promotion

Question 17

Explain how marketers identify different market segments.

Accepted Answer

In identifying market segments, research

Question 18

What part of the marketing mix includes communicating information about products?

Accepted Answer

A)  product 
B)  promotion 
C)  price 
D)  place 
E)  publicity 
A)  product 
B)  promotion 
C)  price 
D)  place 
E)  publicity

Question 19

What are three functions of packaging?

Accepted Answer

Packaging serves as an in-store advertis

Question 20

What type of variables are lifestyles, opinions, interests, and attitudes referred to as?

Accepted Answer

A)  geographic variables 
B)  demographic variables 
C)  psychographic variables 
D)  product use variables 
E)  labor market variables 
A)  geographic variables 
B)  demographic variables 
C)  psychographic variables 
D)  product use variables 
E)  labor market variables

Why is product development a long and expensive process?

Which of the following, if True about the real estate industry in general, would weaken the Marketing Director's argument?

Why do smaller companies have advantages over larger competitors when it comes to the distribution aspect of the marketing mix?

What are the tangible and intangible qualities that a company builds into its products?

Sears' Craftsman Tools is an example of a private brand.

What elements of Panther's marketing mix might change when going international?

A firm makes bookcases, bicycles, soft drinks, armored cars, and novelty dishes. What do these items make up?

Which of the following, if True, would support the CEO's position?

What is data warehousing?

The director of marketing argues that Dinasonic should use an adaptation strategy for its marketing because its products will need to be adapted to different markets. Which of the following, if True, would strengthen this position?

Noxzema, Prudential, and Minute Maid would be examples of which kind of brand name?

Congress has conducted hearings on the use of cell phones while driving. What factors would this constitute in a company's external environment?

Describe the elements of the marketing mix. What is their collective role?

A description such as single, aged 20-34, earning $30,000 a year, is an example of a psychographic variable.

During the product life cycle, when do sales begin to slow down while profit levels are high?

Explain how marketers identify different market segments.

What part of the marketing mix includes communicating information about products?

What are three functions of packaging?

What type of variables are lifestyles, opinions, interests, and attitudes referred to as?

The Us Business Environment

Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

The Global Context of Business

Business Management

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Pricing, Distributing, and Promoting Products

Information Technology for Business

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters

Exam 11: Marketing Processes and Consumer Behavior

Why is product development a long and expensive process?

Which of the following, if True about the real estate industry in general, would weaken the Marketing Director's argument?

Why do smaller companies have advantages over larger competitors when it comes to the distribution aspect of the marketing mix?

What are the tangible and intangible qualities that a company builds into its products?

Sears' Craftsman Tools is an example of a private brand.

What elements of Panther's marketing mix might change when going international?

A firm makes bookcases, bicycles, soft drinks, armored cars, and novelty dishes. What do these items make up?

Which of the following, if True, would support the CEO's position?

What is data warehousing?

The director of marketing argues that Dinasonic should use an adaptation strategy for its marketing because its products will need to be adapted to different markets. Which of the following, if True, would strengthen this position?

Noxzema, Prudential, and Minute Maid would be examples of which kind of brand name?

Congress has conducted hearings on the use of cell phones while driving. What factors would this constitute in a company's external environment?

Describe the elements of the marketing mix. What is their collective role?

A description such as single, aged 20-34, earning $30,000 a year, is an example of a psychographic variable.

During the product life cycle, when do sales begin to slow down while profit levels are high?

Explain how marketers identify different market segments.

What part of the marketing mix includes communicating information about products?

What are three functions of packaging?

What type of variables are lifestyles, opinions, interests, and attitudes referred to as?

The Us Business Environment

Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

The Global Context of Business

Business Management

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Pricing, Distributing, and Promoting Products

Information Technology for Business

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters