University of minneosta abus 4701 spring 2016 final exam 14

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Which of the following is a reason for a company to raise its prices?
Select one:
a. to address the issue of overdemand for a product
b. to win a larger share of the market
c. to use excess capacity
d. to boost sales volume
e. to balance out decreasing costs
Question 2
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The National Traffic and Safety Act (1958) provides for the creation of compulsory safety standards for ________.
Select one:
a. automobiles and tires
b. peak hour traffic volumes
c. exposure to vehicular pollution
d. speed limits and emission checks
e. periodic testing of license holders
Question 3
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CashSecure is a financial services provider. Whenever a customer has a child who is about to become eligible for a driver’s license, CashSecure sends the customer materials related to teaching teenagers how to drive safely. This is an example of using ________ information from a customer database.
Select one:
a. demographic
b. geographic
c. psychographic
d. metadata
e. political
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Which of the following is an example of a free online database that a company could access in order to develop marketing intelligence?
Select one:
a. LexisNexis
b. Hoover’s
c. Dialog
d. U.S. Security and Exchange Commission’s database
e. ProQuest
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Setting a price for products that must be used along with a main product is known as ________ pricing.
Select one:
a. by-product
b. market-penetration
c. skimming
d. product bundle
e. captive product
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________ marketing calls for meeting the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.
Select one:
a. Sustainable
b. Customer-driving
c. Mass
d. Customer-driven
e. Differential
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Flurrbies, a line of winter accessories by a leading fashion label, fell in and out of favor with customers quickly. Flurrbies represents an example of a ________.
Select one:
a. first-mover product
b. fashion
c. fad
d. intermediate good
e. repositioned product
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An emerging economy is also known as a ________ economy.
Select one:
a. industrializing
b. industrial
c. subsistence
d. raw material exporting
e. barter
Question 9
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In societal marketing, it is accurate to say that companies should try to turn ________.
Select one:
a. deficient products into pleasing ones
b. desirable products into pleasing ones
c. deficient products into salutary ones
d. all of their products into salutary ones
e. all of their products into desirable ones
Question 10
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Today’s large and progressive wholesalers have successfully reacted to rising costs by ________.
Select one:
a. relocating in low-rent, low-tax areas
b. investing in information technology systems
c. eliminating the need for brokers and agents
d. increasing their markup and lowering their status of operations
e. reducing promotional activities
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Which of the following is an example of an internal public in a company’s marketing environment?
Select one:
a. a community organization that tries to bridge the gap between the company and the community
b. a supplier responsible for sourcing most of the raw materials used in production
c. a company director who is working to improve the company’s image in the society
d. a bank that helps the company acquire loans
e. a consumer organization that questions the actions taken by the company
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Which of the following terms is used to describe a specific mix of human traits that may be attributed to a particular brand?
Select one:
a. brand perception
b. brand architecture
c. brand personality
d. brand loyalty
e. brand equity
Question 13
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Which of the following channel functions of wholesalers is demonstrated when a wholesaler reduces inventory holding costs and risks to suppliers and customers?
Select one:
a. bulk breaking
b. buying and assortment building
c. warehousing
d. financing
e. transporting
Question 14
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Which of the following reflects the marketing concept philosophy?
Select one:
a. We don’t have a marketing department, we have a customer department.
b. We’re in the business of making and selling superior products.
c. We build them so you can buy them.
d. When it’s profits versus customers’ needs, profits will always win out.
e. You won’t find a better deal anywhere else.
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Which of the following products would CypressSound classify as a question mark in on its BCG matrix?
Select one:
a. Cyan, a cell phone that is specially designed for music lovers, has a very low market share, though the market is growing steadily.
b. The home entertainment system offered by CypressSound has a strong market share, and the market is likely to expand in the future.
c. Xpress, an MP3 player, has a high market share, but the market for MP3 players is not expected to grow significantly.
d. AutoPlay, the company’s audio product for installation in cars, has a high market share, and the market for these systems has been growing constantly.
e. Unipress, a CD player, has a very low market share in a market that is shrinking rapidly.
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Ethnographic research ________.
Select one:
a. is an approach arising from traditional focus groups
b. is conducted in settings where people live and work
c. is an approach that provides only secondary data
d. is most popular in the service sector
e. is used by marketers when observation is impossible
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Evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained is called ________.
Select one:
a. marketing control
b. marketing implementation
c. market planning
d. marketing development
e. market targeting
Question 18
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________ involves using an existing brand name for a new product category.
Select one:
a. Line extension
b. Co-branding
c. Private labeling
d. Brand extension
e. Clustered branding
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At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance work in a cross-functional group to save time and money in the new-product development process. Fantastic Flavors uses a ________ approach.
Select one:
a. intradepartmental new-product development
b. sequential new-product development
c. team-based new-product development
d. simulated test market
e. controlled test market
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A company that makes products that give high immediate satisfaction but may hurt consumers in the long run makes ________ products.
Select one:
a. deficient
b. pleasing
c. salutary
d. desirable
e. threatening
Question 21
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Which of the following is true of the Telephone Consumer Protection Act?
Select one:
a. It establishes the Consumer Product Safety Commission and authorizes it to set safety standards for telephones and related accessories.
b. It authorizes the FTC to determine rules and regulations for consumer warranties.
c. It authorizes the implementation of the National Do-Not-Call Registry.
d. It prohibits discrimination against hiring people with disabilities in the telecommunication business.
e. It limits marketers’ use of automatic dialing systems and artificial or prerecorded voices.
Question 22
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Which of the following is an example of a combination of sales promotions and direct marketing?
Select one:
a. a company giving discounts on their product prices in order to gain a brand image
b. a company releasing a nationwide television ad with every buyer having a chance to win a lottery price
c. a company holding a press conference to talk about their new product
d. a company’s sales force meeting customers directly and providing customized messages that suit that particular customer
e. a company e-mailing a customer about a discount on a product during a festival season
Question 23
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Fads are characterized by their ________.
Select one:
a. enduring nature spanning several generations
b. minor popularity and consumer acceptance
c. unusually high sales and rapid decline
d. basic and distinctive modes of expression that seldom become unpopular
e. non-attainment of the last two stages of the product life cycle
Question 24
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Abel now has the buying power to purchase the computer that he wanted for the last six months. Abel’s want has now become a ________.
Select one:
a. need
b. necessity
c. demand
d. exigency
e. desire
Question 25
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The final step in the marketing process is ________.
Select one:
a. capturing value from customers
b. constructing an integrated marketing program
c. building profitable relationships with the customers
d. understanding the marketplace
e. designing a customer-driven marketing strategy
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Ellis, a marketing manager at a regional chain restaurant, has decided to create a contest calling for customers to create commercials for the restaurant. Winning entries will be posted on the organization’s home page. Ellis’ plan is an example of ________ marketing.
Select one:
a. consumer-generated
b. sustainable
c. customer club
d. differential
e. mass
Question 27
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Which of the following is a similarity between personal selling and direct marketing?
Select one:
a. Both are not sales-directed forms of communication.
b. Both are used to meet a mass audiences simultaneously.
c. Both are only used in cases of product promotions.
d. Both are involved in personal interactions with customers.
e. Both are impersonal and lack direct persuasiveness of company salespeople.
Question 28
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Top management can install a ________ to direct the flow of new-product ideas to a central point where they can be collected, reviewed, and evaluated.
Select one:
a. idea evaluation system
b. innovation management system
c. database
d. EIS
e. data processing system
Question 29
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The Rooster’s Car Company has three lines of cars: high-end security cars made for government agencies, commercial cars for consumers and individuals, and professional racing cars. The high-end security cars are sold directly to the government by the company. The consumer cars are sold using dedicated dealers who only sell Rooster’s lines at their outlets. Rooster’s also makes professional racing cars for a racing team. This is achieved by collaborating with Vivelli Tires, an innovative and renowned tire manufacturer. Rooster’s provides the engine and body, while Vivelli provides the tires and its expertise on the racing industry. Which of the following types of marketing systems does the collaboration between Rooster’s and Vivelli exemplify?
Select one:
a. direct marketing system
b. administered vertical marketing system
c. corporate vertical marketing system
d. contractual vertical marketing system
e. horizontal marketing system

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Which of the following is true of a joint ownership?
Select one:
a. The domestic firm exports management services rather than products.
b. Whereas local firms like to reinvest earnings for growth, many U.S. firms often prefer to take out these earnings.
c. Whereas U.S. firms emphasize the role of marketing, local investors may rely on selling.
d. The domestic company sells its trademark and patent for a fee or royalty.
e. The domestic company is in total possession and control of the business.
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People tend to interpret new information in a way that will support what they already believe. This is called ________.
Select one:
a. selective retention
b. selective distortion
c. selective attitude
d. selective learning
e. selective perception
Question 32
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The management team at Riceborough Farms recently invested thousands of dollars in setting up wind energy units across its property, believing that this would enable the Farms to become self-sufficient in energy production. However, a year into the project, it was noted that the wind-powered systems did not produce much energy, and the Farms used almost as much conventional energy as before. Which of the following, if true, would reduce the cognitive dissonance felt by the management team at Riceborough?
Select one:
a. The windmill systems installed at Riceborough were of the latest technology.
b. The climate of the area is not suited for the harnessing of wind energy.
c. The company hired to install the systems had made a mistake during installation.
d. Most of the employees at Riceborough are dedicated to the concepts of sustainable development and green technology.
e. The government offers several benefits for companies adopting green technologies such as solar or wind energy systems.
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Timberland employees get 40 hours paid leave each year to pursue volunteer projects. The company runs a service day that hosts projects in 25 countries, and it supports a nonprofit that brings young people into public service for a year. CEO Jeffrey Swartz sees such service as a powerful differentiator for Timberland with its current and potential customers. Timberland could be most accurately described as practicing ________.
Select one:
a. consumerism
b. environmental sustainability
c. sustainability vision
d. innovative marketing
e. sense-of-mission marketing
Question 34
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Product costs set a ________ to a product’s price.
Select one:
a. demand curve
b. experience curve
c. floor
d. ceiling
e. break-even cost
Question 35
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A long-standing charge against intermediaries is that they mark up prices beyond the ________.
Select one:
a. value of their services
b. delivery charges
c. going market price
d. range most Americans can afford to pay
e. customs duties
Question 36
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A ________ is defined as a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service.
Select one:
a. prototype
b. paradigm
c. framework
d. attribute
e. brand
Question 37
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Which of the following is true of the growth stage of the PLC?
Select one:
a. The laggards will begin to buy the product at this stage and the early adopters may follow.
b. The primary reason for growth at this stage is the lack of competitors in the market as the product is new.
c. The firm will begin to reduce its spending on all other parameters and focus only on production of the good.
d. Profits are nonexistent at this stage.
e. By spending a lot on product improvement and promotion, the firm gives up maximum current profit.
Question 38
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Nathan is conducting a portfolio analysis for his company. Which of the following activities would this involve?
Select one:
a. studying the products and strategies of competitors in order to improve the company’s own products
b. collecting consumer feedback in order to better position the company’s products in the minds of consumers
c. evaluating the attractiveness of an SBU’s market and the strength of its position in the market
d. segmenting the company’s markets to effectively reach the target consumers
e. conducting marketing research to estimate the efficiency and effectiveness of the company’s marketing strategy
Question 39
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Several companies, some of them operating through the Internet, offer “paycheck advances.” Consumers are encouraged to take out a loan against a paycheck they expect to receive in the near future. These short-term loans with high-interest rates, and high penalties for late payments, are often marketed to consumers who do not have traditional bank accounts. These companies could most easily be criticized for which of the following?
Select one:
a. shoddy products
b. poorly serving disadvantaged consumers
c. high-pressure selling
d. high advertising and promotion costs
e. predatory pricing
Question 40
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________ are a type of operating unit under an international division that are responsible for their own sales and profits.
Select one:
a. World product groups
b. Geographical organizations
c. International subsidiaries
d. Global organizations
e. Export departments
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Allstocks.com, a Web seller that buys furniture, clothing, electronics, and more from a variety of producers at less-than-regular wholesale prices and then charges customers less than retail, is a ________.
Select one:
a. specialty retailer
b. independent off-price retailer
c. departmental retailer
d. full-service retailer
e. category killer
Question 42
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Omni Healthcare’s analgesic drug Cetaprin has a 40% share in the analgesics market in Terrania. Its closest competitor, Febex, has a 25% share in the market, while three other drugs split the remainder. Which of the following would most indicate that Cetaprin would be classified as a star according to the BCG matrix?
Select one:
a. Cetaprin is priced higher than other similar products in the market.
b. A customer survey revealed that Cetaprin has the highest brand-name recognition of any analgesic in the market.
c. The demand for analgesic drugs in the Terranian market is expected to remain stable.
d. Febex is rapidly gaining market share over Cetaprin as a result of aggressive marketing efforts.
e. The Terranian market for healthcare products is expanding rapidly.
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In the BCG matrix, ________ are low-share businesses and products in a market that is not expected to grow. They may generate enough cash to maintain themselves but do not promise to be large sources of cash.
Select one:
a. dogs
b. cash cows
c. black holes
d. stars
e. question marks
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Time-and-duty analysis is a ________ tool used by managers for their salespeople.
Select one:
a. motivation
b. prospecting
c. qualifying
d. segmentation
e. supervision
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Which of the following most closely describes indirect exporting?
Select one:
a. In indirect exporting, products are usually modified for the export market.
b. Indirect exporting involves a large investment.
c. Indirect exporting works through independent international marketing intermediaries.
d. Indirect exporting requires an overseas marketing organization or network.
e. The risks involved in indirect exporting are higher than those of direct exporting.
Question 46
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Which of the following is true of the Clayton Act?
Select one:
a. It authorizes the FTC to determine rules and regulations for consumer warranties and provides consumer access to redress.
b. It protects and regulates distinctive brand names and trademarks.
c. It establishes the Consumer Product Safety Commission and authorizes it to set safety standards for consumer products.
d. It supplements the Sherman Act by prohibiting certain types of price discrimination, exclusive dealing, and tying clauses.
e. It establishes the Environmental Protection Agency and authorizes it to set a national policy on the environment.
Question 47
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Which of the following is true of marketing strategies developing in the new marketing communications model?
Select one:
a. a shift towards micromarketing
b. a shift away from mass marketing
c. an increase in mass-media marketing techniques
d. a decrease in the use of technology in marketing
e. an increase in ad spending on print media
Question 48
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Lizar Telecommunications are manufactures of cell phones and related accessories. Michael Starr, a movie director, contacted Lizar to help fund his new movie. Lizar agreed to provide funding on the condition that Lizar cell phones be used in the movie, and that the brand be prominent in its scenes. What kind of advertising technique has Lizar adopted here?
Select one:
a. geofencing
b. advertainment
c. product placement
d. vertical integration
e. subliminal advertising
Question 49
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________ is the combining of two or more modes of transportation to move products.
Select one:
a. Vertical transportation
b. Disintermediation
c. Just-in-time systems
d. Express transportation
e. Intermodal transportation
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Which of the following Web sites is a message board?
Select one:
a. Facebook
b. YouTube
c. Twitter
d. Craigslist
e. Wikipedia
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Which of the following is a type of sampling that allows the researcher to ascertain the sampling error accurately?
Select one:
a. convenience sample
b. cluster sample
c. judgment sample
d. quota sample
e. nonprobability sample
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Marketers must be careful to guard against ________ when using age and life-cycle segmentation.
Select one:
a. copyrighting
b. stereotyping
c. traditional marketing
d. differentiation
e. cannibalization
Question 53
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CoLanCo Inc., a soft drink manufacturer, is being sued by an environmental group for not meeting safety standards of waste disposal at one of the company’s plants. Fearing a backlash from consumers and business partners, CoLanCo quickly remedied the issue by adding higher-grade filters and purifiers. Which of the following acts by CoLanCo would constitute a public relations effort regarding the lawsuit against them?
Select one:
a. having well-trained personal at retail outlets explaining the different range of products the company provides
b. tying up with a local burger joint to ensure exclusive sales of CoLanCo soft drinks at the burger outlets
c. lowering the prices of the company’s products in the short term
d. holding a press conference declaring the remedial steps they have taken and inviting inspections of the purifiers
e. filming a new advertisement for their products and sponsoring shows on television
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________ refers to reducing the business portfolio by eliminating products that no longer fit the company’s overall strategy.
Select one:
a. Market segmentation
b. Vertical integration
c. Product line extension
d. Downsizing
e. Diversification
Question 55
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Service perishability means that ________.
Select one:
a. evaluation of services is subjective and it changes from customer to customer
b. the quality of services depends on who provides them as well as when, where, and how they are provided
c. services cannot be stored for later sale or use
d. services cannot be seen, tasted, felt, heard, or smelled before they are bought
e. services cannot be separated from their providers, whether the providers are people or machines
Question 56
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Kevin Pinker is a freelance computer programmer who writes computer algorithms for SoftStars. SoftStars uses these algorithms to make specific softwares based on online market research. SoftStars’ programs are then sold to the online retailer, Abundon, which then sells it to consumers and businesses. Which of the following is a marketing intermediary in this chain?
Select one:
a. only SoftStars
b. both Abundon and SoftStars
c. both Kevin Pinker and SoftStars
d. only Abundon
e. only Kevin Pinker and Abundon
Question 57
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Which of the following is true of an integrated marketing communications system?
Select one:
a. It dictates all communications between shareholders and board of directors of a company.
b. It facilitates designing a product based on different feedback received from customers and production engineers.
c. It involves helping suppliers in identifying the right raw materials for a specific product.
d. It helps in integrating all company resources to create accurate forecasting information.
e. It ties together all of the company’s messages and images of the product.
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Which type of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage, expertise, and performance?
Select one:
a. services differentiation
b. channel differentiation
c. people differentiation
d. product differentiation
e. price differentiation
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________ is the degree to which the results of using the innovation can be observed or described to others.
Select one:
a. Relative advantage
b. Compatibility
c. Complexity
d. Divisibility
e. Communicability
Question 60
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A product line is considered to be too long if the manager can ________.
Select one:
a. decrease costs by adding items
b. increase market share by dropping items
c. increase profits by dropping items
d. decrease costs by dropping items
e. increase profits by adding items
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Shark Enterprises practices a marketing strategy where its limited resources are used to pursue a large share of two small niches. Shark Enterprises practices which of the following strategies?
Select one:
a. undifferentiated
b. differentiated
c. mass customization
d. concentrated
e. geographically dispersed
Question 62
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The popular press has paid the most attention to ________ online marketing-the online selling of goods and services to final consumers.
Select one:
a. B2C
b. B2B
c. C2C
d. C2B
e. global
Question 63
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Producers use marketing intermediaries because they ________.
Select one:
a. create greater efficiency in making goods available to target markets
b. supply cheaper raw materials for the production of products and services
c. provide technical expertise and know-how for faster production
d. help monitor day-to-day activities during production
e. form a part of the company’s direct channel selling chain
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Companies can build customer relationships at many levels, depending on the nature of the target market. Hence, a company with few customers and high margins is most likely to seek to develop ________ with key customers.
Select one:
a. full partnerships
b. basic relationships
c. selective relationships
d. categorical partnerships
e. community relationships
Question 65
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________ data consist of information collected for the specific purpose at hand.
Select one:
a. Primary
b. Secondary
c. Derived
d. Archival
e. Ethnographic
Question 66
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Which of the following is an example of reverse distribution in a supply chain?
Select one:
a. products moved between intermediaries before reaching the customer
b. products moved directly from producer to customer
c. products moved to the factory by suppliers
d. products moved from the factory to resellers
e. products that are to be disposed upon being returned by resellers
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Clenzo is a company that provides house cleaning services in major urban and suburban areas. Marketers at Clenzo developed a short, humorous video promoting the company’s services and hope that customers who see the video will be so entertained that they will pass it on to their friends and colleagues. The marketers at Clenzo are using ________.
Select one:
a. internal marketing
b. viral marketing
c. C2B marketing
d. C2C marketing
e. infomercial marketing
Question 68
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A laundry detergent is most likely to be an example of a ________ product.
Select one:
a. unsought
b. shopping
c. convenience
d. specialty
e. industrial
Question 69
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Marketers use ________ telephone marketing to receive orders from television ads and catalogs.
Select one:
a. inbound
b. viral
c. advertorial
d. direct-response
e. infomercial
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Which of the following is the last step in the selling process?
Select one:
a. follow-up
b. closing
c. handling objections
d. presentation
e. prospecting
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In which of the following steps in the sales process does the salesperson meet the customer for the first time?
Select one:
a. prospecting
b. preapproach
c. presentation
d. qualifying
e. approach
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Shampoo marketers segment buyers as light, medium, or heavy product users. This is an example of ________ segmentation.
Select one:
a. user status
b. usage rate
c. benefits sought
d. occasion
e. psychographic
Question 73
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Product invention consists of ________.
Select one:
a. marketing a product in a foreign market without making any changes to the product
b. taking the product as is and finding customers for it
c. modifying advertising messages to local markets
d. creating something new to meet the needs of consumers in a given country
e. upgrading the product to meet local requirements, conditions, or wants
Question 74
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Which of the following statements is true with regard to shopping centers?
Select one:
a. Shopping centers function at the neighborhood level, rather than at the regional or community level.
b. Shopping centers typically contain provisions for many nonretail activities, such as a playground, skating rink, hotel, dining establishments, and a movie theater.
c. Shopping centers are groups of retail businesses built on a site that is planned, developed, owned, and managed as a unit.
d. Shopping centers usually contain exclusive brands and specialty stores, rather than convenience stores or department stores.
e. Shopping centers are identical to lifestyle centers in terms of their size, services, and nature.
Question 75
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Through ________, broad communities of people (customers, employees, independent scientists and researchers, and even the public at large) are invited into the new-product innovation process.
Select one:
a. outsourcing
b. sole sourcing
c. brainstorming
d. crowdsourcing
e. test marketing
Question 76
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________ is a method of entering a foreign market by associating with foreign companies to produce or market products or services.
Select one:
a. Joint venturing
b. Indirect exporting
c. Direct investment
d. Greenfield investment
e. Direct exporting
Question 77
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For a retailer to be able to differentiate himself from competitors and match target shoppers’ expectations, the product assortment retailed should be ________.
Select one:
a. identical to the product assortment retailed by its competitors
b. devoid of any blockbuster goods as they divert the attention of consumers
c. highly targeted or focused on a niche market of potential consumers
d. constituted by private-label brands, rather than national or exclusive brands
e. devoid of any seconds, overstocks, and closeouts as this damages the perception of the retailer
Question 78
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What is the first step in the marketing research process?
Select one:
a. developing a marketing information system
b. defining the problem and research objectives
c. developing the research plan for collecting information
d. implementing the research plan
e. interpreting data and deciding on type of research
Question 79
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People forget much that they learn. They tend to remember information that supports their attitudes and beliefs. This is called ________.
Select one:
a. selective retention
b. selective distortion
c. selective attitude
d. cognitive dissonance
e. perceptual vigilance
Question 80
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Which of the following is the fixed amount in a salesperson’s compensation?
Select one:
a. bonus
b. commission
c. salary
d. incentives
e. profit sharing plan
Question 81
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Valhalla Woods is a luxury furniture manufacturing firm that is planning to release a new line of maple wood furniture. Which of the following slogans would help Valhalla Woods reach out to more customers, in the period after the Great Recession of 2008/2009, if they followed a value-marketing technique?
Select one:
a. Greatness is promised to the few
b. Luxury and price in harmony
c. Pay more, value more
d. No compromises on luxury
e. Making luxury affordable
Question 82
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You want to find out whether Americans between 21 and 40 years of age tend to vote for Democrats and whether Americans between 41 and 70 tend to vote for Republican candidates. You will most likely use a ________ to collect your data if you want an accurate measure of the sampling error.
Select one:
a. quota sample
b. mechanical device
c. stratified random sample
d. judgment sample
e. convenience sample
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For most companies, the first step in conducting online marketing is to ________.
Select one:
a. place an ad online
b. send e-mails
c. create a Web site
d. create a social network
e. place search-related ads
Question 84
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Through ________, brands can be differentiated on features, performance, or style and design.
Select one:
a. people differentiation
b. channel differentiation
c. price differentiation
d. services differentiation
e. product differentiation
Question 85
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Underpriced products sell very well, but they produce less revenue than they would have if the price were raised to the ________ level.
Select one:
a. perceived value
b. value-added
c. variable cost
d. demand curve
e. price-floor
Question 86
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The ________ of 1890 prohibits monopolies and activities that restrain trade or competition in interstate commerce.
Select one:
a. Robinson-Patman Act
b. Magnuson-Moss Warranty Act
c. Sherman Antitrust Act
d. Lanham Trademark Act
e. Consumer Product Safety Act
Question 87
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In Sao Paulo, Brazil, there are more than 20 stores specializing in selling the same quality and brand of wheat products located in one street. An individual seller cannot charge more than the going price without the risk of losing business to the other stores. This is an example of what type of market?
Select one:
a. pure competition
b. monopolistic competition
c. oligopolistic competition
d. a pure monopoly
e. black market
Question 88
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Fox Scully received an e-mail promoting a new financial services institution that offers surprisingly low mortgage rates. The e-mail simply asked customers to provide their address, date of birth, social security number, and current mortgage information in order to receive a free loan quote. Suspicious of the offer, Fox researched the company and discovered that the e-mail was a fraud. This is an example of ________.
Select one:
a. cold calling
b. phishing
c. iTV advertising
d. data mining
e. viral marketing
Question 89
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The growth of the Internet caused many traditional companies to ________ in response to customer demands and a changing marketplace.
Select one:
a. become click-only companies
b. become content sites
c. become click-and-mortar companies
d. develop more infomercials
e. expand their outside sales forces
Question 90
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Which of the following is a desirable quality for a brand name?
Select one:
a. The name should be difficult to pronounce.
b. The name should be a word used in day-to-day life rather than being distinctive.
c. The name should not suggest anything about the product quality.
d. The name should translate easily into foreign languages.
e. The name should not be extendable.
Question 91
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Campbell Retail is one of the oldest retailers in the country with a characteristic no-frills look to all its stores. While the service offered at Campbell stores is fairly mediocre, Campbell Retail is famous for surprise offerings of seconds, overstocks, and closeouts-occasionally including expensive gadgets and jewelry. Which of the following statements, if true, would strengthen the argument that Campbell Retail should use product assortment, rather than the variables of services mix and store atmosphere to differentiate its services?
Select one:
a. Campbell Retail is the only company that offers limited-service retailing among its competitors.
b. Campbell has stores in 132 locations across the country with many of these locations housing multiple stores.
c. Campbell Retail believes that modifying its stores to incorporate the notion of experiential retailing is imperative because all of its new competitors have better ratings on the variable for store atmosphere.
d. Campbell Retail has numerous private-label brands that enjoy substantial brand loyalty in the minds of its customers.
e. Campbell Retail possesses highly qualified manpower that helps its limited service approach to retailing.
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Companies emphasizing ________ are developing “green marketing” programs that develop ecologically safer products, recyclable and biodegradable packaging, and more energy-efficient operations.
Select one:
a. pollution prevention
b. product stewardship
c. “beyond greening”
d. new clean technology
e. sustainability vision
Question 93
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A ________ marketing system is a marketing system that combines successive stages of production and distribution under a single ownership, where channel leadership is established through common ownership.
Select one:
a. contractual vertical
b. corporate vertical
c. administered vertical
d. horizontal
e. direct
Question 94
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________ is the total combined customer lifetime values of all the company’s current and potential customers.
Select one:
a. Share of customer
b. Customer payoff
c. Customer equity
d. Customer cardinality
e. Customer perceived value
Question 95
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Which of the following is true of the territorial sales force structure?
Select one:
a. Travel expenses are relatively smaller than product sales force structure.
b. It is usually adopted if a company has numerous and complex products requiring technically skilled salespersons.
c. Sales force specializes along different product lines in this sales force structure.
d. Sales force is organized along customer or industry lines in this sales force structure.
e. It handles the needs of individual large customers, rather than regular customers.
Question 96
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Which of the following examples represents a product sales force structure?
Select one:
a. Venson’s produces frozen dinners at its factory in Ohio and sells them across the country through a network of sales representatives organized into regional and territorial tiers.
b. AmWeb produces an expensive brand of herbal cosmetics called “Green You” that are sold in select boutiques and parlors by selling teams assigned to serve small groups of these key customers.
c. Verra Designers operates from its landmark store in uptown New York and customers from world over come to this store to buy original merchandise at steep prices.
d. Cartlon Computers sells its highly specialized computers through special teams which have received training in the configuration, uses, and USPs of a single model of its computers.
e. Nutters, producers of cookies and other bakery products, markets its products throughout the country through a network of area and regional sales officers.
Question 97
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Consumers usually perceive higher-priced products as ________.
Select one:
a. not within reach of most people
b. having higher quality
c. having high profit margins
d. popular brands
e. being in the introductory stage of the product life cycle
Question 98
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Ad man Rosser Reeves believed that firms should develop a USP for each brand and stick to it. What does USP stand for?
Select one:
a. unique selling product
b. unique services practice
c. unique sales pitch
d. unique selling proposition
e. universal strategic practice
Question 99
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Which of the following is true of the Uruguay Round of the WTO?
Select one:
a. The Uruguay Round promoted short-term global trade growth.
b. The Uruguay Round further reduced the world’s remaining merchandise tariffs by 50 percent.
c. The Uruguay Round did not protect intellectual property.
d. The Uruguay Round toughened the international protection of copyrights and patents.
e. The Uruguay Round began in late 2001 and concluded in 2005.
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Eric Dylan is the marketing director of a charity that raises funds to help provide educational services to children and families in developing countries. Eric targets a selective market of individuals who have recently donated to international charities by sending them a letter with the proposed plan for charity and instructions for those who are interested to participate. Eric uses ________ in this scenario.
Select one:
a. direct-mail marketing
b. mass marketing
c. telephone marketing
d. direct-response television marketing
e. kiosk marketing

 

 

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