Question 1 of 40

2.5 Points

A company that sets prices of its exports low with the intention of harming local manufacturers or producers would most likely be found in violation of:

 A. quotas.

 B. exchange rates.

 C. tariffs.

 D. antidumping laws.

Question 2 of 40

2.5 Points

__________ are products purchased and used by end consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products.

 A. Services

 B. Consumer products

 C. Line extensions

 D. Industrial products

Question 3 of 40

2.5 Points

Marketing logistics involves which of the following flows of products and information?

 A. Outbound and inbound only

 B. Outbound, inbound, and reverse

 C. Inbound and reverse only

 D. Outbound and reverse only

Question 4 of 40

2.5 Points

Ecstasy Pharmaceuticals faces fixed costs of $1 million with manufacturing its new drug. The company sells the drug in bottles of 50 pills for $10. The company estimates that it must sell 200,000 bottles to break even. What is the total cost to produce a bottle of 50 pills?

 A. $2.50

 B. $5

 C. $6

 D. $7.50

Question 5 of 40

2.5 Points

An intermediary who __________ has purchased the goods being handled.

 A. breaks bulk

 B. takes title

 C. creates assortments

 D. takes consignments

Question 6 of 40

2.5 Points

When determining the distribution intensity, three strategies are available to marketers: intensive, exclusive, and __________ distribution.

 A. multichannel

 B. selective

 C. international

 D. direct

Question 7 of 40

2.5 Points

If demand is highly responsive to a change in price, we say the demand is:

 A. variable.

 B. inelastic.

 C. value-based.

 D. elastic.

Question 8 of 40

2.5 Points

The break-even volume is the point at which:

 A. the total revenue and total costs lines intersect.

 B. demand equals supply.

 C. the production of one more unit will not increase profit.

 D. the company can pay all of its long-term debt.

Question 9 of 40

2.5 Points

Which stage in the PLC normally lasts longest?

 A. Growth

 B. Decline

 C. Maturity

 D. Phase-in

Question 10 of 40

2.5 Points

In a(n) __________ market structure, there are several sellers, each having slightly different products with unique customer benefits.

 A. monopoly

 B. oligopoly

 C. monopolistic competition

 D. pure competition

Question 11 of 40

2.5 Points

A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania, from locally grown wood is an example of a:

 A. convenience product.

 B. shopping product.

 C. specialty product.

 D. service.

Question 12 of 40

2.5 Points

By using __________, a company deliberately sets a low price with the intention of driving its competition out of business.

 A. price-fixing

 B. price lining

 C. price bundling

 D. predatory pricing

Question 13 of 40

2.5 Points

Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes concept testing, the next step is:

 A. commercialization.

 B. focus group surveys.

 C. concept development.

 D. post-testing.

Question 14 of 40

2.5 Points

MRO products are goods that businesses use for:

 A. management, research, and order-processing.

 B. marketing, relationship-building, and operations.

 C. maintenance, research, and organization.

 D. maintenance, repair, and operations.

Question 15 of 40

2.5 Points

Which of the following is true about the demand curve?

 A. It is used to illustrate the effect of price on the quantity supplied.

 B. It is always graphically depicted by a straight line.

 C. It shows the quantity of product customers will buy in a market during a period of time even if other factors change.

 D. It shows the relationship between product demand and product price.

Question 16 of 40

2.5 Points

Which of the following is the innovation that involves the greatest degree of change?

 A. Concept change

 B. Cannibalization

 C. Context change

 D. Cosmetic change

Question 17 of 40

2.5 Points

An advantage of a vertical marketing system (VMS) in comparison to a conventional channel organization is that it acts as a(n) __________ system.

 A. unified

 B. more creative

 C. profit-driven

 D. customer-driven

Question 18 of 40

2.5 Points

A producer that minimizes possession time would be MOST likely to expect which of the following benefits?

 A. Better information flows among channel members

 B. More easily accessible storage locations

 C. Greater production capability

 D. Reduced horizontal conflict

Question 19 of 40

2.5 Points

Mabel Lu is planning to buy a new washing machine. She notices that washing machines are available in a wide range of prices, and she wants to make sure she gets the most for her money. This product is a(n) __________ product.

 A. convenience

 B. unsought

 C. specialty

 D. shopping

Question 20 of 40

2.5 Points

Through the use of __________ tags, a company can use a computer that receives information from an electronic chip to locate exactly where a product is from production to shipment.

 A. RFID

 B. UPC

 C. VMS

 D. IT

Question 21 of 40

2.5 Points

Which type of advertising is used to develop brand preferences and to increase brand loyalty?

 A. Personal advertising

 B. Persuasive advertising

 C. Reminder advertising

 D. Informative advertising

Question 22 of 40

2.5 Points

Which kind of marketing involves sending a pamphlet or flyer containing an offer to a person at a particular address?

 A. Direct-response advertising

 B. Dynamic imaging

 C. Catalog

 D. Direct mail

Question 23 of 40

2.5 Points

Which of the following is true about convenience stores?

 A. They carry mostly durable goods.

 B. They charge lower-than-normal prices for nondurable goods.

 C. They are reluctant to change their store designs and offerings to adjust to changes in the market.

 D. They create time utility for their customers.

Question 24 of 40

2.5 Points

Members of a company's __________ sales force conduct business from their offices using telephones, emails, or visits from prospective buyers to generate sales.

 A. outside

 B. inside

 C. industry

 D. customer

 D. customer

Question 25 of 40

2.5 Points

Marketing communicators should be good at __________ messages that take into account how the target audience __________ them.

 A. delivering; encodes

 B. sending; encodes

 C. encoding; decodes

 D. retrieving; perceives

Question 26 of 40

2.5 Points

Which of the following is a promotional technique that returns some or all of the purchase price to the buyer to encourage product trial or repurchase?

 A. Contest

 B. Allowance

 C. Loyalty program

 D. Refund or rebate

Question 26 of 40

2.5 Points

Which of the following is a promotional technique that returns some or all of the purchase price to the buyer to encourage product trial or repurchase?

 A. Contest

 B. Allowance

 C. Loyalty program

 D. Refund or rebate

Question 27 of 40

2.5 Points

Which of the following types of retailers places the most emphasis on salespeople assisting customers throughout the purchase process?

 A. Limited-service retailers

 B. Full-service retailers

 C. Wholesale-service retailers

 D. Discount retailers

Question 28 of 40

2.5 Points

Which of the following is NOT a type of consumer sales promotion?

 A. Advertising allowance

 B. Point-of-purchase display

 C. Loyalty program

 D. Trial offer

Question 29 of 40

2.5 Points

Information about a customer's age, income, and family makeup is in the __________ category of a customer database.

 A. demographic

 B. psychographic

 C. geographic

 D. behavioral

Question 30 of 40

2.5 Points

What should a salesperson do during the fifth step of the personal selling process?

 A. Block objections

 B. Anticipate and address objections

 C. Begin building a bridge to the next sale

 D. Wait for signals that the customer is ready to buy

Question 31 of 40

2.5 Points

Which message-execution style depicts average people using a product in an everyday setting?

 A. Lifestyle

 B. Scientific evidence

 C. Slice of life

 D. Personality symbol

Question 32 of 40

2.5 Points

The first step in the personal selling process is:

 A. preapproach.

 B. prospecting.

 C. approach.

 D. overcome objections.

Question 33 of 40

2.5 Points

__________ are the largest category of wholesalers.

 A. Brokers

 B. Manufacturer sellers

 C. Agents

 D. Merchant wholesalers

Question 34 of 40

2.5 Points

Which of the following marketing communication tool offers the marketer the lowest level of control over the message?

 A. Sales promotion

 B. Advertising

 C. Public relations

 D. Word of mouth

Question 35 of 40

2.5 Points

__________ carry a broad range of choices for a narrow product line.

 A. Convenience stores

 B. Specialty stores

 C. Superstores

 D. Discount stores

Question 36 of 40

2.5 Points

The owner of a grocery store wants to have nonfood items delivered, priced, displayed, and inventoried by a wholesaler. Which type of wholesaler BEST fits the owner's needs?

 A. Drop shipper

 B. Cash-and-carry wholesaler

 C. Truck jobber

 D. Rack jobber

Question 37 of 40

2.5 Points

Which of the following is an advantage of organizing the sales force by geography?

 A. Cost-efficiency

 B. Salespeople with in-depth product knowledge

 C. Salespeople with in-depth industry knowledge

 D. Stronger relationships with a company's most important customers

Question 38 of 40

2.5 Points

The __________ regulates email marketing.

 A. Do Not Mail List

 B. Commitment to Consumer Choice

 C. Direct Marketing Association

 D. CAN-SPAM Act

Question 39 of 40

2.5 Points

Mercy University's initial ads for the school's new MBA program are MOST likely intended to create:

 A. reinforcement.

 B. awareness and interest.

 C. preference.

 D. insistence.

Question 40 of 40

2.5 Points

Which of the following marketing communication tools includes the functions of building up a positive corporate image and handling unfavorable stories and events?

 A. Sales promotion

 B. Sponsorship

 C. Direct marketing

 D. Public relations

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