Question 1

Which of the following is the BEST example of a B2B market transaction?

Accepted Answer

A)   A college student buys dorm furniture from an on-campus store.
B)   A group of teenage girls buy new clothes for the upcoming school year.
C)   A high-school coach borrows sports equipment from a neighboring school.
D)   A dentist provides free toothbrushes to patients.
E)   A chain of ice cream parlors regularly purchases napkins from the same supplier. E

Question 2

Identify the ways that small businesses can benefit from an understanding of the marketing mix.

Accepted Answer

Small businesses need to understand the marketing mix,products,pricing,distribution,and promotion.Small businesses need a thorough understanding of what customers want.Small-business pricing errors usually result from a failure to estimate operating expenses accurately,but when small businesses set prices by carefully assessing costs,many earn satisfactory profits.Small-business distribution is the ability of many small businesses to attract and retain customers depending partly on the choice of location,especially for new service businesses.Small-business promotion includes holding down costs by using less expensive promotional methods,like publicity in local newspapers or identifying themselves and their products with associated groups,organizations,and events.

Question 3

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. C

Question 4

List five possible sources of value that consumers receive from Panther Shoes.

Accepted Answer

The answer of List five possible sources of value that...

Question 5

What is the term for intangible products,such as time,expertise,or an activity that can be purchased?

Accepted Answer

A)   industrial goods
B)   personal goods
C)   risky assets
D)   services
E)   ideas

Question 6

Satellite dish and home television shopping provide examples of changes to which of the following external environmental factors that affect marketing?

Accepted Answer

A)   economic
B)   technological
C)   legal
D)   political
E)   competitive

Question 7

In small business,why are some new products and firms doomed at the start?

Accepted Answer

The answer of In small business,why are some new products...

Question 8

Which of the following,if true,would weaken the CEO's position?

Accepted Answer

A)   Young males have shown strong brand loyalty to the current market leader in energy drinks.
B)   Young males are especially likely to be opinion leaders on many lifestyle issues.
C)   Clothing companies typically segment more precisely than beverage companies.
D)   Even effective targeting does not guarantee success when it is followed by ineffective positioning.
E)   As compared to other groups, young males spend a high percentage of their income on discretionary purchases.

Question 9

What does the process of "positioning" involve?

Accepted Answer

A)   hiring only employees who have the strongest credentials
B)   designing a company's products to appeal to target customers
C)   focusing on only one component of the marketing mix
D)   disregarding customers' reactions to a company's products
E)   reorganizing employees according to seniority

Question 10

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

Accepted Answer

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

Question 11

The reseller market includes farmers,manufacturers,and some retailers.

Accepted Answer

A) True 
 B)False

Question 12

Leif designs and sells surfboards.Although his sales are declining,he decides to keep his prices constant.Which of the following statements,if true,would support Leif's decision?

Accepted Answer

A)   Surfboards at other shops in the region are priced lower.
B)   Customers rate Leif's surfboards as being of about average quality.
C)   Demand for surfboards has been declining for several years.
D)   Leif offers a much wider variety of surfboards than his competitors do.
E)   Leif has calculated that lowering prices would reduce profits.

Question 13

What are target markets? Explain the role that target markets play in market segmentation.

Accepted Answer

The answer of What are target markets? Explain the role...

Question 14

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

Question 15

The vice president of marketing suggests opening a Facebook page for DVD Heaven,but the president argues that social media sites would not help its business.Which of the following statements,if true,would support the argument made by the president for NOT using social media sites as part of DVD Heaven's advertising strategy?

Accepted Answer

A)   Social media is changing so rapidly that what is relevant today may easily be outdated tomorrow.
B)   Search ads combined with social media campaigns lead to higher results for products than just using general search ads.
C)   Brands entered in social networks as topics or members of the community can build customer relations.
D)   Social media sites can increase buzz and word of mouth simply by conversation about a product or business.
E)   Social media sites provide real-time discussions that can include the latest DVDs available or recommendations for DVD purchases.

Question 16

After becoming a successful national brand,Penelope's Pizza has made the decision to expand overseas and enter the global market.Using a globally integrated marketing plan,Penelope's plans to enter the pizza market in Germany,Japan,and India.The CEO wants to use an adaptation plan in the new markets,and thus offer kielbasa pizza in Germany,sushi pizza in Japan,and vegetarian pizza in India.The advertising firm recommends a standardization approach as being more cost efficient and brand identifiable.Which statement,if true,supports the CEO's argument?

Accepted Answer

A)   Traditionally, all three markets are slow to adapt to the idea of fast food, and prefer meals with known ingredients that are familiar to them.
B)   The cost of introducing new ingredients to the menu will increase the price of pizza by 15 percent.
C)   Marketing surveys show that the under-30 generation in each of the three countries is increasingly eager to consume American fast food as a status symbol of increasing wealth.
D)   The current economic slump has decreased the volume of sales for all fast foods on a global basis.
E)   Obtaining vendors for new pizza toppings would require the hiring of additional translators in each country.

Question 17

Which of the following terms describes the kind of products marketed by insurance companies,airlines,investment counselors,health clinics,and public accountants?

Accepted Answer

A)   personal goods
B)   services
C)   industrial goods
D)   psychographics
E)   reseller goods

Question 18

Explain the elements that comprise the marketing environment.

Accepted Answer

The answer of Explain the elements that comprise the marketing...

Question 19

The director of marketing argues that Dinasonic should alter its marketing strategy in different countries by adapting its methods of advertising.Which of the following,if true,would support this position?

Accepted Answer

A)   Dinasonic has won awards for its advertising campaigns.
B)   Consumers in most countries are attracted to American consumer goods.
C)   Laws regulating advertising vary between different countries.
D)   Dinasonic has several sales managers experienced in international sales.
E)   The company is planning to subcontract some of its international sales operations.

Question 20

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

Accepted Answer