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** ASSESSMENT EXAM QUESTIONS – THESE ITEMS WILL DEFINITELY APPEAR ON THE FINAL EXAM *
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** ASSESSMENT EXAM QUESTIONS – THESE ITEMS WILL DEFINITELY APPEAR ON THE FINAL EXAM *

CHAPTER 1

 

1-113.

Marketing will not happen unless:

 

A)

e-commerce is flourishing.

 

B)

facilitators are present to simplify exchange.

 

C)

middlemen are present to facilitate exchange.

 

D)

two or more parties each have something they want to exchange for something else.

 

E)

an economy is market-directed rather than planned.

 

 

1-120.

MACRO-marketing:

 

A)

is a social process.

 

B)

tries to overcome "discrepancies of quantity" and "discrepancies of assortment."

 

C)

tries to effectively match supply and demand.

 

D)

tries to overcome the many separations between producers and consumers.

 

E)

All of the above are true statements.

 

 

1-204.

The three basic ideas in the "marketing concept" are:

 

A)

customer satisfaction, resource efficiency, sales maximization.

 

B)

customer satisfaction, total company effort, sales growth.

 

C)

resource efficiency, sales growth, profit maximization.

 

D)

customer satisfaction, marketing manager as chief executive, profit.

 

E)

customer satisfaction, total company effort, profit.

 

CHAPTER 2

 

2-57.

A marketing strategy specifies:

 

A)

a marketing mix.

 

B)

a target market and a related marketing mix.

 

C)

a target market.

 

D)

the resources needed to implement a marketing mix.

 

E)

both A and D.

 

 

2-64.

The "four Ps" of a marketing mix are:

 

A)

Production, Personnel, Price, and Physical Distribution

 

B)

Promotion, Production, Price, and People

 

C)

Potential customers, Product, Price, and Personal Selling

 

D)

Product, Price, Promotion, and Profit

 

E)

Product, Place, Promotion, and Price

 

 

2-101.

A "marketing plan" is:

 

A)

a marketing program.

 

B)

a marketing strategy.

 

C)

a marketing strategy--plus the time-related details for carrying it out.

 

D)

a target market and a related marketing mix.

 

E)

a plan that contains the necessary operational decisions.

 

CHAPTER 3

 

3-81.

Market segmentation:

 

A)

means the same thing as marketing strategy planning.

 

B)

assumes that most submarkets can be satisfied by the same marketing mix.

 

C)

is the same thing as positioning.

 

D)

tries to identify homogeneous submarkets within a product-market.

 

E)

All of the above are true.

 

 

3-135.

"Positioning" is a marketing management aid which refers to:

 

A)

a product's ability to provide both immediate satisfaction and social responsibility.

 

B)

how customers think about proposed and/or present brands in a market.

 

C)

a firm's ability to distribute products through middlemen who are in the right position to reach target customers.

 

D)

how a firm approaches customer relationship management.

 

E)

all of the above.

 

CHAPTER 4

 

4-94.

Rising costs and inflation are part of the uncontrollable ______________ environment.

 

A)

technological

 

B)

economic

 

C)

competitive

 

D)

legal

 

E)

cultural and social

 

 

4-135.

Maria Lopez runs an errand service from her home.  For a fee, she will pick up dry cleaning, buy groceries, plan small parties, and do errands for her customers.  The demand for this type of service has increased because of changes in the

 

A)

cultural/social environment.

 

B)

legal environment.

 

C)

technological environment.

 

D)

political environment.

 

E)

none of the above.

 

CHAPTER 5

 

5-84.

As the owner of a videotape rental store, Katy Hilton has an income of $72,000.  She pays $30,000 per year in taxes and another $22,000 per year in grocery bills, house mortgage, and car payment.  Last year she spent an additional $4,000 on a two-week vacation at a Club Med in Cancun, Mexico.  What was Katy's discretionary income last year?

 

A)

$20,000.

 

B)

$4,000.

 

C)

$42,000.

 

D)

$26,000.

 

E)

$50,000.

 

 

5-180.

Which of the following in NOT one of the levels of consumer problem solving discussed in the text?

 

A)

Dissonance problem solving

 

B)

Routinized response behavior

 

C)

Extensive problem solving

 

D)

Limited problem solving

 

E)

None of the above, i.e. all four are discussed.

 

CHAPTER 6

 

6-77.

In comparison to the buying of final consumers, the purchasing of organizational buyers:

 

A)

is strictly economic and not at all emotional.

 

B)

is always based on competitive bids from multiple suppliers.

 

C)

leans basically toward economy, quality, and dependability.

 

D)

is even less predictable.

 

E)

Both A and C are true statements.

 

 

6-88.

Lolita King, director of procurement at Soho Glass, Inc. must approve every purchase order, and Tom Glendinnig, purchasing manager, must authorize any sales rep who wants to talk to a Soho employee.  Lolita and Tom are acting as _____ and _____, respectively.

 

A)

decider and gatekeeper

 

B)

influencer and user

 

C)

gatekeeper and influencer

 

D)

buyer and decider

 

E)

user and gatekeeper

 

CHAPTER 7

 

7-78.

Often the most difficult step in the marketing research process is:

 

A)

analyzing the situation.

 

B)

defining the problem.

 

C)

getting problem-specific data.

 

D)

interpreting the data.

 

E)

All of the above.

 

 

7-87.

Data that has already been collected or published is:

 

A)

useful data.

 

B)

secondary data.

 

C)

primary data.

 

D)

free data.

 

E)

rarely--if ever--useful for marketing decision making.

 

CHAPTER 8

 

8-90.

"Product" means:

 

A)

all the services needed with a physical good.

 

B)

a physical good with all its related services.

 

C)

the need-satisfying offering of a firm.

 

D)

all of a firm's producing and distribution activities.

 

E)

a well-packaged item with a well-advertised brand name.

 

 

8-117.

Which of the following is NOT one of the consumer product classes discussed in the text?

 

A)

Unsought products

 

B)

Innovative products

 

C)

Shopping products

 

D)

Convenience products

 

E)

Specialty products

 

 

8-167.

Which of the following is NOT one of the text's business product classes?

 

A)

Raw materials

 

B)

Component parts and materials

 

C)

Specialty products

 

D)

Professional services

 

E)

Installations

 

CHAPTER 9

 

9-68.

Which of the following is NOT one of the text's product life cycle stages?

 

A)

Market maturity

 

B)

Market penetration

 

C)

Market introduction

 

D)

Sales decline

 

E)

Market growth

 

 

9-70.

As a product moves through its product life cycle:

 

A)

industry profits may decrease while industry sales increase.

 

B)

the nature of competition moves toward pure competition or oligopoly.

 

C)

entirely different target markets may be aimed at.

 

D)

customers' attitudes and needs may change.

 

E)

All of the above are true.

 

 

CHAPTER 11

 

11-43.

When planning physical distribution, the marketing manager should:

 

A)

set the customer service level so that every customer can get the product exactly when he wants it.

 

B)

minimize the cost of distribution for a given customer service level.

 

C)

minimize the cost of transportation.

 

D)

maximize the speed of delivery.

 

E)

make use of a distribution center.

 

 

11-52.

The "total cost approach" to physical distribution management:

 

A)

seeks to eliminate the storing function.

 

B)

seeks to minimize the cost of transportation.

 

C)

might suggest a high-cost transporting mode if storing costs could be reduced enough to lower total distribution costs.

 

D)

ignores inventory carrying costs.

 

E)

All of the above.

 

 

CHAPTER 14

 

14-59.

A professional salesperson:

 

A)

may negotiate prices or diagnose technical problems when a product doesn't work well.

 

B)

doesn't try to "sell" customers, but rather tries to help them satisfy their needs.

 

C)

is a representative of the whole company.

 

D)

is responsible for feeding back information about customers and competitors.

 

E)

All of the above.

 

 

14-63.

Which of the following is NOT one of the basic sales tasks?

 

A)

Order-taking

 

B)

Supporting

 

C)

Sales-promoting

 

D)

Order-getting

 

E)

None of the above, i.e. all are basic sales tasks

 

 

14-115.

Which of the following statements by a sales manager suggests a problem?

 

A)

"Taking a successful sales rep out of a territory for sales training is like spending money to teach a fish to swim."

 

B)

"I was a sales rep before becoming manager, so I don't need a job description to help me look for new salespeople."

 

C)

"I select new salespeople all by myself, because I am the one responsible for the performance of the sales force."

 

D)

Each of the above indicates a problem.

 

E)

None of the above indicates a problem.

 

 

 

 

 

 

CHAPTER 17

 

17-69.

Blue Ridge Weavers wants to set its selling price on an item so that the retail list price will be $50--taking into account the usual markups of 10 percent at wholesale and 30 percent at retail.  At what price should Blue Ridge Weavers sell the item?

 

A)

$32.50

 

B)

$31.50

 

C)

$35.00

 

D)

$34.00

 

E)

$38.00

 

 

17-122.

Customers are likely to be more price sensitive when:

 

A)

the total expenditure is great.

 

B)

they have to pay the bill themselves.

 

C)

the end benefit isn't very significant.

 

D)

they haven't yet spent any money related to the purchase.

 

E)

All of the above.

 

CHAPTER 18

 

18-39.

Marie Callender has developed a new brand of frozen dinners to compete with the well-established brands.  It probably should use a marketing mix of:

 

A)

exclusive distribution, skimming pricing, and persuasive advertising.

 

B)

intensive distribution, introductory price dealing, selective demand advertising, and a combined "push" and "pull" policy.

 

C)

intensive distribution, price cutting, reminder advertising, and a "pull" policy.

 

D)

selective distribution, penetration pricing, pioneering advertising, and a "push" policy.

 

E)

selective distribution, skimming pricing, selective demand advertising, and a "push" policy.

 

 

18-68.

The text argues that MACRO-marketing in the United States:

 

A)

costs too much because many consumers are dissatisfied.

 

B)

is a growing concept.

 

C)

does not cost too much.

 

D)

tends to decrease consumer welfare.

 

E)

costs too much because satisfying consumers costs too much.

 

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