Question 1 ___ testing of a prototype takes place within the firm to see how it performs in different applications.

a) Research

b) Sales-wave

c) Alpha

d) Beta

e) Simulated

Question 2 ___ includes all the activities in selling goods or services to those who buy for resale or business use.

a) Warehousing

b) Procurement

c) Wholesaling

d) Promoting

e) Retailing

Question 3 If Microsoft announces plans for a new-product development, smaller firms may choose to concentrate their development efforts in other directions to avoid head-to-head competition. In this example, Microsoft is employing a ___ defense strategy.

a) counteroffensive

b) mobile

c) contraction

d) flank

e) preemptive

Question 4 During the ___ stage of a product's life cycle, sales show a downward drift and profits erode.

a) maturity

b) introduction

c) decline

d) obsolescence

e) growth

Question 5 Felder, an Austrian manufacturer of high-end woodworking machinery, has only a handful of showrooms in the United States and does not sell its products through home improvement stores. This is an example of ___ distribution.

a) exclusive

b) intensive

c) coercive

d) selective

e) professional

Question 6 E&OE produces and markets its own brand of skincare products using herbal remedies and natural ingredients through stand-alone stores as well as an online portal. E&OE is a(n) ___.

a) department store

b) supermarket

c) off-price retailer

d) discount store

e) specialty store

Question 7 An alternative to being a market follower in a large market is to be a leader in a small market. This type of competitor is called a ___.

a) segment king

b) marketing king

c) strategic clone

d) niche marketer

e) guerilla marketer

Question 8 Jason is a technology enthusiast who is happy to conduct alpha and beta testing and report on early weaknesses of consumer electronics products. He is most likely to fall in the ___ adopter category.

a) innovator

b) late majority

c) early adopter

d) early majority

e) laggard

Question 9 ___ are sets of interdependent organizations participating in the process of making a product or service available for use or consumption.

a) Interstitials

b) Sales territories

c) Communication channels

d) Distribution channels

e) Marketing terrains

Question 10 If a digital coupon pops up on your mobile phone when you arrive on site at a retail location, what promotional technique is the retailer using?

a) In-store promotions

b) Local targeting

c) Geofencing

d) Mobile marketing

e) Personalized messaging

Question 11 In a ___ marketing system, two or more unrelated companies put together resources or programs to exploit an emerging marketing opportunity.

a) reverse flow

b) forward flow

c) lateral

d) vertical

e) horizontal

Question 12 Epic Inc., a firm that produces chairs for offices, uses comparative advertising to inform consumers that its products offer the same features and quality as the competitor's. This is an example of a(n) ___ attack.

a) flank

b) frontal

c) bypass

d) encirclement

e) guerilla

Question 13 HP Inc. is a highly respected technology brand. Many retailers want to be associated with the brand because of this reputation. What kind of power does HP obtain due to this reputation?

a) Referent

b) Reward

c) Functional

d) Legitimate

e) Coercive

Question 14 Most established companies focus on ___ innovation when they aim to enter new markets by tweaking existing products, or they want to stay one step ahead in the market by using variations on a core product.

a) incremental

b) spontaneous

c) continuous

d) radical

e) competitive

Question 15 A store selling expensive artwork and luxury goods typically falls into the ___ group with respect to margins and volume.

a) low-volume, low-markup

b) high-markup, low-volume

c) low-volume, mixed markup

d) mixed markup, high-volume

e) high-volume, low-markup

Question 16 Firms can help establish the optimal brand positioning for a new product and the right points of parity and points of differences by ___ during the idea generation stage.

a) analyzing the competition

b) crowdsourcing

c) interviewing employees

d) observing customers

e) interviewing customers

Question 17 When firms look for ways to grow sales of its current offerings to its existing customers, it is using the ___ strategy.

a) market-penetration

b) new-market segment

c) diversification

d) product development

e)geographical-expansion

Question 18 When Goodyear began selling its popular tire brands through Sears, Walmart, and Discount Tire, independent dealers that sold the same tires at higher prices were angry. This is an example of a(n) ___ conflict.

a) horizontal

b) parallel

c) multichannel

d) vertical

e) intermediate

Question 19 Walmart has developed the Ol'Roy brand of dog food to sell only in its stores and its sales has surpassed Nestl's Purina brand as the top-selling dog food. Ol'Roy is an example of a ___.

a) private label

b) franchise

c) generic product

d) copy-cat brand

e) national brand

Question 20 Designing and validating a prototype version of a potential offering occurs during the ___ stage of the stage-gate framework.

a) concept development

b) test marketing

c) commercial development

d) idea generation

e) business-model design