Under ________, the market consists of many buyers and sellers who trade over a range of prices rather than a single market price.

Select one:

a.monopolistic competition

b.pure competition

c.oligopolistic competition

d.a pure monopoly

e.socialism

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Under which type of geographic pricing strategy does each customer pay the exact freight for the product from the factory to its destination?

Select one:

a.freight-absorption pricing

b.FOB-origin pricing

c.basing-point pricing

d.zone pricing

e.dynamic pricing

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Question 3

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It is most typical for producers who use captive-product pricing to set the price of the main product ________ and set ________ on the supplies necessary to use the product.

Select one:

a.high; low markups

b.moderately; moderate markups

c.low; high markups

d.high; high markups

e.low; low markups

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General Motors prices its automobiles to achieve a 15 to 20 percent profit on its investment. This approach is called ________.

Select one:

a.target return pricing

b.value-based pricing

c.cost-plus pricing

d.low-price image

e.going-rate pricing

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Which of the following is a cost-based approach to pricing?

Select one:

a.going-rate pricing

b.good-value pricing

c.break-even pricing

d.value-based pricing

e.A and C

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With target costing, marketers will first ________ and then ________.

Select one:

a.design the product; determine its cost

b.determine a selling price; target costs to ensure that the price is met

c.identify the target market; build the marketing mix

d.build the marketing mix; identify the target market

e.use skimming pricing; use penetrating pricing

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________ involves charging a constant low price with few or no temporary price discounts.

Select one:

a.High-low pricing

b.Penetration pricing

c.Cost-plus pricing

d.Everyday low pricing (EDLP)

e.Target return pricing

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Hybrid marketing systems are also called ________.

Select one:

a.horizontal multichannel systems

b.administered franchises

c.multichannel distribution systems

d.dual distribution systems

e.contractual marketing systems

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Question 9

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Steve's Physco Skates sells its products to Wal-Mart, who then sells them to the consumer. This is an example of a(n) ________.

Select one:

a.direct marketing channel

b.indirect marketing channel

c.corporate vertical marketing system

d.retailer channel

e.producer channel

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Intermediaries play an important role in matching ________.

Select one:

a.information and promotion

b.dealer with customer

c.manufacturer to product

d.strategy and product

e.supply and demand

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Question 11

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Which of the following is an example of a manufacturer-sponsored retailer franchise system?

Select one:

a.Starbucks operating within Target stores

b.Ford and its network of independent franchised dealers

c.fast-food restaurants such as McDonald's and Burger King

d.motels such as Holiday Inn and Ramada Inn

e.licensed bottlers that bottle and sell Coca-Cola to retailers

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A distribution channel is more than a collection of firms connected by various flows; it is a(n) ________ in which people and companies interact to accomplish individual, company, and channel goals.

Select one:

a.multichannel system

b.vertical marketing system

c.complex behavioral system

d.corporate marketing system

e.added value chain

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An advantage of a vertical marketing system (VMS) over a conventional distribution channel is that it acts as a ________ system.

Select one:

a.unified

b.task-driven

c.socially responsible

d.customer-driven

e.democratic

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________ includes all the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use.

Select one:

a.Franchising

b.Disintermediation

c.Wholesaling

d.Retailing

e.Brokering

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You own an independent store in your neighborhood. You still like to offer fresh seafood in your meat display case. Which type of wholesaler might best serve you?

Select one:

a.mail-order wholesaler

b.rack jobber

c.agents and brokers

d.cash-and-carry wholesaler

e.drop shipper

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Like retailers, wholesalers must ________ their target markets and ________ themselves effectively, for they cannot serve everyone.

Select one:

a.position; define

b.identify; compare

c.define; position

d.franchise; discount

e.discount; franchise

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Question 17

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Most ________ retailers are significantly behind ________ retailers in global expansion.

Select one:

a.American; European and Asian

b.Asian; African

c.European; American

d.African; Peruvian

e.Asian; American

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In-store demonstrations, displays, contests, and visiting celebrities are all examples of ________.

Select one:

a.public relations

b.sales promotions

c.advertising

d.agent promotions

e.direct marketing

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Question 19

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________ operate in warehouse-like facilities, sell a limited selection of items, and offer few frills. Customers pay annual membership fees and are able to purchase goods at deep discounts.

Select one:

a.Superstores

b.Factory outlets

c.Discount stores

d.Independent off-price retailers

e.Warehouse clubs

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Business-to-consumer companies are more likely to emphasize a ________ promotion strategy, while business-to-business companies are more likely to emphasize a ________ promotion strategy.

Select one:

a.pull; push

b.continuity; pulse

c.push; pull

d.pulse; pull

e.pulse; continuity

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Question 21

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Suave ran ads featuring a woman with beautiful hair questioning "Suave or Matrix? Can You Tell?" This is an example of ________.

Select one:

a.secondary advertising

b.comparative advertising

c.informative advertising

d.reminder advertising

e.buzz marketing

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Question 22

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To succeed, an advertisement must ________.

Select one:

a.have a significant budget

b.be placed during prime time

c.gain attention and be engaging

d.interrupt or disrupt

e.be high frequency

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Question 23

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In selecting media vehicles, the planner must balance media costs against several media effectiveness factors. First, the planner should evaluate the media vehicle's ________.

Select one:

a.market coverage

b.pass-along audience

c.audience attention

d.audience quality

e.editorial quality

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Mariah Goldberg, a marketing manager for a manufacturer of children's toys, is looking for ways to reach potential customers who typically avoid salespeople and advertisements. Which of the following would be the most economical promotional tool for Mariah to use?

Select one:

a.direct marketing

b.public relations

c.sales promotions

d.brand contacts

e.personal selling

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Question 25

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________ is the company's most expensive promotion tool.

Select one:

a.Mass media

b.Advertising

c.Public relations

d.Personal selling

e.Publicity

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Question 26

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Scheduling ads unevenly, or ________, builds awareness that is intended to be carried over to the next advertising period.

Select one:

a.segmenting

b.pulsing

c.continuity

d.sequencing

e.hard hitting

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Question 27

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Manufacturers direct more sales promotion dollars toward ________ than to ________.

Select one:

a.consumers; retailers

b.retailers; wholesalers

c.retailers and wholesalers; consumers

d.customers; wholesalers

e.mature consumers; teenagers

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Question 28

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Which of the following is the term for the individuals in a company who travel to call on customers in the field?

Select one:

a.product sales force

b.outside sales force

c.complex sales force

d.customer sales force

e.inside sales force

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Question 29

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Of the main consumer promotion tools, which is the most costly?

Select one:

a.advertising

b.billboards

c.coupons

d.samples

e.cash refunds

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Question 30

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Helping the salesforce "work smart" is the goal of ________.

Select one:

a.sales compensation

b.return on sales investment

c.the organizational climate

d.sales supervision

e.sales motivation

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Question 31

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A salesperson who researches a company's buying styles and product line is most likely in the ________ stage of the selling process.

Select one:

a.presentation

b.prospecting

c.preapproach

d.closing

e.approach

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Question 32

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Which of the following best explains why many companies are adopting the team selling approach to service large, complex accounts?

Select one:

a.Salespeople prefer working in groups because of the opportunity for flex hours and job sharing.

b.A group of salespeople assigned to one account is cost effective for corporations.

c.Products have become too complicated for one salesperson to support.

d.Fewer skilled salespeople are working in the high-tech industry.

e.Customers prefer dealing with many salespeople rather than one salesperson.

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Question 33

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________ are goods offered either free or at low cost as an incentive to buy a product; they may come in-pack, on-pack, or delivered through the mail.

Select one:

a.Point-of-purchase promotions

b.Premiums

c.Price packs

d.Cash refund offers

e.Rebates

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Question 34

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Which of the following is the term for the individuals in a company who travel to call on customers in the field?

Select one:

a.customer sales force

b.product sales force

c.complex sales force

d.outside sales force

e.inside sales force

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Question 35

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Which of the following best describes a salesperson who would be categorized as a value spendthrift?

Select one:

a.concedes on price in order to quickly close sales deals

b.explains to the firm that it needs more evidence of excellent value

c.believes management pursues a value-driven strategy

d.regularly gains more business at the same price

e.documents claims to customers about superior monetary value

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Question 36

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In order to win and keep accounts, most companies want their salesforce to practice ________ selling.

Select one:

a.competitive

b.profit margin

c.spendthrift

d.value

e.short-term

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Question 37

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When a firm sets out to analyze, plan, implement, and control sales force activities, it is undertaking ________.

Select one:

a.sales force management

b.promotional objectives

c.team selling efforts

d.marketing design

e.co-op selling and advertising

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Question 38

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When airlines award customers points for miles traveled that can be turned in for free airline trips, they are using a(n) ________.

Select one:

a.premium reward

b.POP promotion

c.advertising specialty

d.frequency marketing program

e.price pack

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Question 39

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In 2005, the ________ established a free trade zone between the United States and Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua.

Select one:

a.NAFTA

b.CAFTA-DR

c.FTAA

d.EU

e.CAN

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Question 40

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________ is a group of nations organized to work toward common goals in the regulation of international trade.

Select one:

a.A joint venture

b.A global firm

c.A multinational enterprise

d.An economic community

e.A standardized marketing mix

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Question 41

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________ means adjusting the marketing strategy and mix elements to each international target market.

Select one:

a.Whole channel view

b.Communication adaptation

c.Standardized global marketing

d.Global market mixing

e.Adapted global marketing

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Question 42

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As global trade is growing, global competition is ________.

Select one:

a.leveling off

b.declining

c.intensifying

d.erratic

e.contracting

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Question 43

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Very few market opportunities are available in a(n) ________ economy.

Select one:

a.subsistence

b.raw material exporting

c.emerging

d.industrializing

e.industrial

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Question 44

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World product groups, geographical organizations, and international subsidiaries are all options for organizing a(n)________.

Select one:

a.indirect exporting venture

b.standardized global marketing strategy

c.joint ownership

d.international division

e.export department

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Question 45

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In societal marketing, the ideal goal for companies is to turn all of their products into ________ ones.

Select one:

a.serviceable ones

b.salutary ones

c.pleasing ones

d.durable ones

e.desirable ones

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Question 46

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Critics claim that companies in the ________ industries introduce planned streams of new products that make older models obsolete, a form of planned obsolescence that harms consumers.

Select one:

a.food and beverage

b.car and truck

c.consumer electronics and computer

d.financial and entertainment

e.housing and construction

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Question 47

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________ is an organized movement of concerned citizens and government agencies to protect and improve people's living environment.

Select one:

a.Sense-of-mission marketing

b.Enlightened marketing

c.Social responsibility

d.Consumerism

e.Environmentalism

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Question 48

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The ________ specifically focuses on future company needs rather than both future company and future customer needs.

Select one:

a.sustainable marketing concept

b.strategic planning concept

c.consumer business concept

d.societal marketing concept

e.marketing concept

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Question 49

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As international trade barriers come down and global markets expand, environmental issues are having ________ impact on international trade.

Select one:

a.more impact on cultural differences and less

b.a neutral

c.a slowly declining

d.a greater

e.a smaller

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Question 50

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________ persuades people to buy goods they had no thought of buying.

Select one:

a.High-pressure selling

b.Redlining

c.Deceptive placement

d.Sustainable marketing

e.Reverse redlining