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Question 1 True/False out of 1 points

Product adaptation involves changing the product to meet local conditions or wants.

Given Answer: True

Correct Answer: True


A specialty store is a retail store that carries a wide product line with a narrow

assortment within that line.

Given Answer: False

Correct Answer: False


The greatest involvement in a foreign market comes through direct investment.

Given Answer: True


Question 4 Multiple Choice out of 1 points

A _______________________ is a retail store that carries a narrow product line with

a deep assortment within that line.

Given Answer: c. specialty store

Correct Answer: c. specialty store


When one or more independent producers, wholesalers, and retailers operating as

separate businesses make up the channel of distribution, it comprises which type of

distribution channel?

Given Answer: d. conventional

Correct Answer: d. conventional

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Working through independent international marketing intermediaries is called:

Given Answer: b. indirect exporting.

Correct Answer: b. indirect exporting.


Too many retailers fail to define their target markets and positions clearly.

Given Answer: True



International trade system devices that limit the amount of foreign exchange and the

exchange rate against other currencies are called:

Given Answer: b. exchange controls.

Correct Answer: b. exchange controls.


Throughout history, the most common pricing approach was to install a fixed-price

policy (setting one price for all buyers).

Given Answer: False



Personal selling is an expensive form of promotion. For example, research shows that

personal selling costs companies _______ per sales call.

Given Answer: a. $170

Correct Answer: a. $170

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All of the following would be considered to be pitfalls of team selling EXCEPT:

Given Answer: a. honesty on selling teams is always open to question because of

the number involved in the selling process.

Correct Answer: a. honesty on selling teams is always open to question because of

the number involved in the selling process.


All of the following have contributed to a growing problem of complaints about

product safety EXCEPT:

Given Answer: a. a desire to produce abroad.

Correct Answer: a. a desire to produce abroad.


Which of the following consumer-promotion tools is the most effective, but most

expensive, way to introduce a new product?

Given Answer: d. samples

Correct Answer: d. samples


An argument against product obsolescence as a marketing sin is that consumers like

style changes and are often ready to get rid of the "old."Given Answer: True



Introducing the new product into the market takes place in which stage of the new

product development process?

Given Answer: d. product development

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Correct Answer: a. commercialization


Companies selling in global industries have no choice but to internationalize their

operations.

Given Answer: True



The promotional tool that marketers tend to underuse or use only as an afterthought is

best described as being which of the following?

Given Answer: c. public relations

Correct Answer: c. public relations


All of the following are benefits to society that can result from company acquisition

of other companies EXCEPT:

Given Answer: d. the acquisition may reduce competition.

Correct Answer: d. the acquisition may reduce competition.

Question 19 True/False out of 1 pointsAn infomercial lasts about five minutes, which is considerably longer than the 30-

second commercial.

Given Answer: False



Nonregulated monopolies are free to price at what the market will bear. However,

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they do not always charge the full price for a number of reasons. One of those reasons

is the:

Given Answer: b. desire to penetrate the market faster with a low price.

Correct Answer: b. desire to penetrate the market faster with a low price.


Selling is one of the oldest professions.

Given Answer: True



Integrated direct marketing is a direct-marketing campaign that uses multiple

vehicles and multiple stages to improve response rates and profits.

Given Answer: True



A distribution channel moves goods and services from producers to consumers. It

overcomes the major time, place, and ______________ gaps that separate goods and

services from those who would use them.

Given Answer: a. possession

Correct Answer: a. possession


Before going abroad, the company should try to define its international marketing

objectives and policies. For example, it should decide on all of the following

EXCEPT: (Pick the LEAST LIKELY.)

Given Answer: c. what currency it wants to use.

Correct Answer: c. what currency it wants to use.

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differences in their value, it is a form of:

Given Answer: b. product-form pricing.

Correct Answer: b. product-form pricing.


The purpose of a(n) _________ is to conserve on foreign exchange and to protect

local industry and employment.

Given Answer: d. embargo

Correct Answer: a. quota


Building selective demand is the objective of which type of advertising?

Given Answer: b. persuasive advertising

Correct Answer: b. persuasive advertising


The Samuels Company, a company that makes performance racecars for dirt tracks,

charges high prices to cover higher performance quality and the high cost of R&D

necessary to stay on top of the performance racing field. Which of the following

pricing objectives would the Samuels Company most likely be following as a course

of action?

Given Answer: b. product quality leadership

Correct Answer: b. product quality leadership


One of the benefits of the most recent round of GATT talks (concluding in 1993) was

that the agreement extended GATT to cover:

Given Answer: b. agriculture.

Correct Answer: b. agriculture.

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If a government uses barriers to foreign products such as biases against a foreign

company's bids, or product standards that go against a foreign company's product

features, the government is using:

Given Answer: d. nontariff trade barriers.

Correct Answer: d. nontariff trade barriers.


All of the following are considered to be major logistics functions EXCEPT:

Given Answer: a. promotion to wholesalers and retailers.

Correct Answer: a. promotion to wholesalers and retailers.


Which of the following international product/promotion strategies involves changing

the product to meet local conditions or wants?

Given Answer: b. product adaptation

Correct Answer: b. product adaptation


Shaping and fitting the offer to the buyer's needs, including activities such as

manufacturing, grading, assembling, and packaging, describes which of the followingkey functions performed by members of the marketing channel?

Given Answer: d. matching

Correct Answer: d. matching


A(n) _________________ is a channel that contains one or more intermediary levels.

Given Answer: b. indirect marketing channel

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Correct Answer: b. indirect marketing channel


The need-satisfaction approach calls for a quick close since consumers will have

already solved their own problem and are looking to exit the sales situation with a

minimum of difficulty.

Given Answer: False



When a company chooses to use an animated character such as the Jolly Green Giant

or Garfield the Cat in their commercial, they are using which of the following

advertising execution formats?

Given Answer: d. personality symbol

Correct Answer: d. personality symbol


When Dell Computer runs an advertisement that boosts "Superior Quality, Superior

Service, and Unbelievable Price," they are most likely using which of the following

new product pricing strategies?

Given Answer: d. market-competitive pricing

Correct Answer: a. market-penetration pricing


IBM, Kellogg cereals, and Heineken beer are all examples of companies that have

been able to sell their products around the world successfully using which of the

following international product/promotion strategies?

Given Answer: a. straight product extension

Correct Answer: a. straight product extension

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An indirect marketing channel has no intermediary levels.

Given Answer: False



Which of the following statements is MOST TRUE about the growth of non-store

retailing?

Given Answer: b. More non-store retailing is conducted by "click-and-brick"

retailers than by click-only" retailers.

Correct Answer: b. More non-store retailing is conducted by "click-and-brick"

retailers than by click-only" retailers.


If a company sells its product directly to the consumer without using any

intermediaries, it is using a(n):

Given Answer: d. hybrid channel.

Correct Answer: a. direct marketing channel.


Market fragmentation has also resulted in profit fragmentation.Given Answer: False



"Greed is good" and "Shop 'till you drop" are slogans that might characterize which

of the following social criticisms leveled at marketing?

Given Answer: d. too much political power

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Correct Answer: a. false wants and too much materialism


In an attempt to keep production steady during an entire year, especially for products

whose use is for only part of the year, sellers often use which of the following?

Given Answer: d. seasonal discounts

Correct Answer: d. seasonal discounts


Which of the following factors is spurring a new movement in pricing toward

dynamic pricing?

Given Answer: b. strong retailers

Correct Answer: b. strong retailers


The fastest-growing sales force technology tool is:

Given Answer: d. the Internet.

Correct Answer: d. the Internet.


According to research, the best salespeople have among their characteristics theability to close a sale.

Given Answer: True



Which of the following promotional budget methods wrongly views sales as the

cause of promotion rather than as the result?

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Given Answer: b. percentage-of-sales method

Correct Answer: b. percentage-of-sales method


A company is in the ______________ stage of the new-product development process

when the company develops the product concept into a physical product in order to

assure that the product idea can be turned into a workable product.

Given Answer: a. product development

Correct Answer: a. product development


Companies with ___________ can set lower prices that result in greater sales and

profits.

Given Answer: c. lower costs

Correct Answer: c. lower costs


B2B marketers tend to use a push strategy (push more), putting more funds into

personal selling, followed by sales promotion, advertising, and public relations.

Given Answer: True



The stage of the PLC characterized by overcapacity, greater competition, and the

eventual elimination of weaker competitors is called the:

Given Answer: d. maturity stage.

Correct Answer: d. maturity stage.

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One of the chief limitations of the Internet with respect to communication is format

and quality constraints.

Given Answer: True



From the societal perspective, bad-tasting and ineffective medicine would be

considered to be a part of which type of product category?

Given Answer: d. deficient products

Correct Answer: d. deficient products


After idea generation has occurred in the new-product development process, the next

stage is most likely to be:

Given Answer: b. idea screening.

Correct Answer: b. idea screening.


Snowboarding using a Burton Snow Board could be a theme incorporated into a

lifestyle commercial.

Given Answer: False



If you want to get a mass audience, newspaper is where you have to be.

Given Answer: False


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A(n) ________________ is a price reduction to buyers who pay their bills promptly.

Given Answer: c. cash discount

Correct Answer: c. cash discount


With respect to setting pricing amounts, the belief that individual digits in a product's

price have symbolic and visual qualities that should be considered in setting price is

linked to:

Given Answer: a. psychological pricing.

Correct Answer: a. psychological pricing.


The stage in the product life cycle where the strategic focus is on maximizing profit

while defending market share and pricing to match or beat the competition is called

the:

Given Answer: d. maturity stage.

Correct Answer: d. maturity stage.


_____________ is the sum of the values that consumers exchange for the benefits of

having or using the product or service.Given Answer: d. Value estimate

Correct Answer: a. Price


Determining the promotion budget on the basis of financial availability of capital is

characteristic of which of the following budget methods?

Given Answer: a. affordable method

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Correct Answer: a. affordable method


The concept of ______________ suggests that the company must blend the

promotion tools carefully into a coordinated promotion mix.

Given Answer: c. integrated marketing communications

Correct Answer: c. integrated marketing communications


Conflicts between different levels of the same channel of distribution are referred to

as:

Given Answer: b. vertical conflicts.

Correct Answer: b. vertical conflicts.


A small store, located near a residential area, that is open long hours seven days a

week and carries a limited line of high-turnover convenience goods is called a:

Given Answer: d. convenience store.

Correct Answer: d. convenience store.

Question 70 Multiple Choice out of 1 pointsA ____________ is a group of independent retailers that bands together to set up a

jointly owned, central wholesale operation and conducts joint merchandising and

promotion efforts.

Given Answer: b. retailer cooperative

Correct Answer: b. retailer cooperative


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In recent years, facing intense competition from other discounters and department

stores, many discount retailers have:

Given Answer: a. traded up.

Correct Answer: a. traded up.


Overlapping steps in the new-product development process to save time and increase

effectiveness across the various departments involved is called:

Given Answer: c. simultaneous product development.

Correct Answer: c. simultaneous product development.


One of the critical problems with the territorial sales force structure is that because of

extensive travel, travel expenses are relatively large.

Given Answer: False



Most new products that fail in the consumer goods category are called line

extensions.

Given Answer: True



The type of store cluster that consists of a group of retail businesses planned,

developed, owned, and managed as a unit is called a:

Given Answer: d. shopping center.

Correct Answer: d. shopping center.

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The strategy used during maturity to attempt to increase the consumption of the

current product is called:

Given Answer: b. market modification.

Correct Answer: b. market modification.


Reach is a measure of how many times the average person in the target market is

exposed to the message.

Given Answer: False



According to "Mr. Failure's Lessons for Sweet Success," all of the following would

help to prevent failure on the part of new products EXCEPT:

Given Answer: d. always be the lowest priced.

Correct Answer: d. always be the lowest priced.


If a company chose to harvest from its product life cycle, this would most likely

occur in the growth phase of the product life cycle.

Given Answer: FalseCorrect Answer: False


As mentioned in the text, there are six distinct major steps in sales force

management. Which of the following is the first step in that process?

Given Answer: c. designing sales force strategy and structure

Correct Answer: c. designing sales force strategy and structure

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When Intel develops a strategy whereby they develop and introduce a newer, higher

margin microprocessor chip every 12 months and send the older models down the

industry food chain to feed demand at lower price points (their new chips can sell for

as much as a $1,000 apiece), they are using which of the following pricing strategies?

Given Answer: d. market-skimming pricing

Correct Answer: d. market-skimming pricing


"Is there potential to realize major improvements through new technology?" This

statement would be found in which of the following environmental sustainability grid

cells?

Given Answer: b. new environmental technology

Correct Answer: b. new environmental technology


The use of more than one, but fewer than all, of the intermediaries who are willing to

carry the company's products is characteristic of which of the following distribution

formats?

Given Answer: c. selective distribution

Correct Answer: c. selective distribution


All of the following are examples of nonstore retailing EXCEPT:

Given Answer: b. selling jewelry in a clothing store.

Correct Answer: b. selling jewelry in a clothing store.

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If Kodak uses different sales forces for its film products than for its industrial

products, which of the following sales force structures would Kodak most likely be

using?

Given Answer: b. product sales force

Correct Answer: b. product sales force


Retailing is defined as being all activities involved in selling goods and services to

those buying for resale or business use.

Given Answer: False



A straight product extension occurs when a company creates a new product or service

for a foreign market.

Given Answer: False



The integrated direct marketing campaign begins with a(n):

Given Answer: a. paid ad with a response channel.

Correct Answer: a. paid ad with a response channel.


Disagreement over the goals and roles of marketing channel members is called:

Given Answer: d. channel conflict.

Correct Answer: d. channel conflict.

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When Ford sells a "world car" it is following a(n) _________________ strategy.

Given Answer: a. standardized marketing mix

Correct Answer: a. standardized marketing mix


Virtual reality is now being used to test product concepts.

Given Answer: True



A ____________________ is the way consumers perceive an actual or potential

product.

Given Answer: b. product image

Correct Answer: b. product image


Integrated marketing communications involves identifying the target audience and

shaping a well-coordinated promotional program to elicit the desired audience

response. Too often, however: (Select the MOST CORRECT statement.)

Given Answer: c. marketing communications focus on overcoming immediate

awareness, image, or preference problems.Correct Answer: c. marketing communications focus on overcoming immediate

awareness, image, or preference problems.


The form of international business that consists of one company joining forces with

foreign investors to create a local business in which they share ownership and control

is called:

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Given Answer: d. joint ownership.

Correct Answer: d. joint ownership.


A price reduction to buyers who buy in large volumes is called a:

Given Answer: a. quantity discount.

Correct Answer: a. quantity discount.


The element of the compensation mix that repays salespeople for undertaking job-

related selling efforts is the:

Given Answer: c. expense allowance.

Correct Answer: c. expense allowance.


In the ___________, a firm faces a trade-off between high market share and high

current profit.

Given Answer: c. growth stage

Correct Answer: c. growth stage

Question 98 Multiple Choice out of 1 pointsIf Cheerios includes a free toy from a Disney movie in its cereal boxes as an

incentive to purchase cereal, which of the following forms of sales promotion was

used?

Given Answer: b. premiums

Correct Answer: b. premiums


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The measure of how many times the average person in the target market is exposed to

the message is called:

Given Answer: b. frequency.

Correct Answer: b. frequency.


From the economic system's point of view, the role of marketing intermediaries is to

transform:

Given Answer: d. assortments of products made by producers into the assortments

wanted by consumers.

Correct Answer: d. assortments of products made by producers into the assortments

wanted by consumers.

mkt 100 final 3

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