BAM 511 Final

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Multiple Choice Questions (Enter your answers on the enclosed answer sheet)

1) A(n) need is one that motivates the consumer but that the consumer

is reluctant or unwilling to explicitly verbalize.

A) real

B) delight

C) unstated

D) secret

E) stated

2) The is practiced most aggressively with unsought goods, goods that

buyers normally do not think of buying, such as insurance, encyclopedias, and cemetery plots.

A) production concept

B) product concept

C) sell i ng concept

D) marketing concept

E) holistic marketing concept

3) The strength of the depends on the mutually profitable business

relationships built by the company and its supporting stakeholders.

A) sales network

B) supply chain network

C) integrated network

D) marketing network

E) holistic union

4) activities include those the company undertakes to make the product

accessible and available to target customers.

A) Consumer behavior

B) New-product development

C) Market segmentation

D) Marketing research

E) Channel

5) Julia hates smoking and is willing to pay an extra tax just to help eliminate

smoking in her city. She is exhibiting with respect to smoking.

A) latent demand

B) declining demand

C) negative demand

D) nonexistent demand

E) unwholesome demand

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6) When Volvo runs advertisements suggesting that it is the safest car money can buy, it is engaging in which of the following forms of marketing programming?

A) Positioning

B) Public relations

C) Market segmentation 0) Technological

E) Service

7) The firm should estimate its competitors' costs and performances as _

against which to compare its own costs and performance.

A) challenges

B) standards

C) competition

0) moveable standards E) benchmarks

8) We can say that a has three characteristics: (1) It is a source of

competitive advantage in that it makes a significant contribution to perceived customer benefits; (2) it has applications in a wide variety of markets; and (3) it is difficult for competitors to imitate.

A) core technology

B) winning strategy

C) core competency 0) business strategy

E) strategic business unit

9) Most large companies consist of four organizational levels: the , the

division level, the business unit level, and the product level.

A) strategic level

B) board of director level

C) corporate level

0) major stakeholder level E) management team level

10) Which of the following terms matches to the phrase "it is a single business or collection of related businesses that can be planned separately from the rest of the company"?

A) growth busi ness unit

B) diverse business unit

C) specialized business unit 0) niche market unit

E) strategic business unit

11) When a customer places an order at BookBox.com, the company processes the customer's payment information, sends the order to the nearest ware house, and ships the order via Fed Ex. This is best described as the

A) new-offering realization process

B) customer acquisition process

C) customer relationship management process 0) fulfillment management process

E) market-sensing process

12) Through its cutting-edge point-of-sale inventory management technology and highly efficient shipping practices, Wal-Mart is able to keep its inventory and logistics costs extremely low and to pass these cost savings on to consumers

in the form of low prices. Wal-Mart's strategy is best described as _

A) overall cost leadership

B) integrative growth

C) differentiation

0) market development E) focus

13) According to the 2000 census, the U.S. population of 276.2 million was

72 white and African American. The remainder consisted of

Hispanic Americans and other minorities.

A) 11

B) 13

C) 15 0) 18 E) 20

14)Consumer expenditures are affected by _

A) savings

B) credit availability

C) debt

0) all of the above E) none of the above

15) Today, corporations need to make sure that they are good corporate citizens and that their consumer messages are honest in order to positively align them- selves with consumers'

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A) views of the universe

B) views of organizations

C) views of themselves 0) views of society

E) views of others

16) Elance.com is a service provider that allows contractors to describe their level

of satisfaction with subcontractors. This is an example of a(n) _

A) customer complaint site

B) combo site offering customer reviews and expert opinions

C) public blog

0) independent customer goods and service review forum E) distributor or sales agent feedback site

17) In response to the U.S. income distribution trend toward , Levi-

Strauss introduced premium Levi's Capital E line to upscale retailers and the less-expensive Levi Strauss Signature line to mass-market retailers.

A) low and high incomes, with a shrinking middle income segment

B) very low and very high incomes

C) very low incomes

0) mostly low incomes

E) mostly medium incomes

18) William rose rapidly in his organization and was the youngest CEO in the

company's history. William would be characterized as a _

A) reaper

B) taker

C) seeker 0) maker

E) preserver

19) If a marketi ng researcher wished to reach people who wou Id not give personal interviews or whose responses might be biased or distorted by the interview-

ers, he or she should choose the as the best way to reach people.

A) focus group interview

B) online interview

C) mail questionnaire 0) cell phone interview E) telephone interview

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20lThe phase of marketing research is generally the most expensive and

the most prone to error.

A) data collection

B) research objectives

C) questionnaire design

D) research planning

E) interview design

21) According to marketing consultant Pat LaPointe, the measurement

pathway of the marketing dashboard reflects what marketers know about sales volumes, the marketing cost per unit sold, and where and how margin is opti mized.

A) customer metrics

B) unit metrics

C) productivity metrics

D) cash-flow metrics

E) brand metrics

22) There are several methods for assessing market potential. Which of these methods do business marketers prefer?

A) Brand-development index method

B) Purchase-profitability index

C) Market-test index

D) Multiple-factor index method

E) Market-bui Idup method

23) As one marketing executive noted, are " ... the most cost-effective,

quickest, dirtiest way to get information in rapid time on an idea."

A) scanners

B) in-store interviews

C) surveys

D) tele-us machines

E) focus grou ps

24) If a questionnaire says "Small college classes are better places to learn ef fectively: (choose) 1_ Strongly disagree, 2 _ Disagree, 3_ Neither agree nor disagree, 4_ Agree, 5_ Strongly agree," the researcher would be using which of the following to discover data?

A) Thematic Appreciation Test (TAT)

B) Dichotomous question

C) Semantic differential

D) Likert scale

E) Multiple choice

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25) is the difference between the prospective customer's evaluation of

all the benefits and all the costs of an offering and the perceived alternatives.

A) Failure avoidance rate

B) Perceived usefulness

C) Customer-perceived value 0) Report rating

E) Competitors' market share rat

26) Typically, gains the most benefit from introducing a frequency pro-

gram.

A) the fast follower, who is second to introduce a frequency program in an indus-

try,

B) the first company to introduce a frequency program in an industry

C) the industry sales leader

0) the low-cost leader in the industry E) the niche player in the industry

27) A would contain such items as past volumes, prices, profits, buyer,

status of current contacts, and an assessment of competitive strengths and weaknesses.

A) contact list

B) customer mailing list

C) general corporate database 0) business database

E) customer database

28) Using his company's allows a telemarketer to respond to customer

inquiries more effectively because he or she can see a total picture of the customer relationship.

A) data warehouse

B) corporate database

C) call back list

0) call rejection list

E) Better Business Bureau contacts

29)AII of the following are examples of the perils of CRM EXCEPT _

A) implementing CRM before creating a customer strategy

B) assuming more CRM technology is better

C) stalking, not wooing, customers

0) the enormous cost that might eventually drain significant profits from the organization

E) rolling out CRM before changing the organization to match

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30) People choose proaucts that reflect and communicate their role and actual or

desired in society.

A)

attitudes

B)

group

C)

bel iefs

D)

feelings

E)

status

31)

portrays the "whole person" interacting with his or her environment.

A) Subculture

B) Attitude

C) Reference group

D) Lifestyle

E) Culture

32) Anne prefers Yoplait strawberry yogurt over other brands. When she decides to try a different flavor, she picks another Yoplait yogurt because she bel ieves that, if the strawberry flavor is good, other Yoplait flavors must be good as

well. This behavior is best described as _

A) general ization

B) heuristic thinking

C) discrimination

D) associative networking

E) self-actualization

33)Marketers who target consumers on the basis of their believe that,

with appeals to people's inner selves, they can influence purchase behavior.

A) sophistication

B) time famine

C) core values

D) social class

E) opinions

34) can work to the advantage of marketers with strong brands when

consumers make neutral or ambiguous brand information more positive.

A) Selective distortion

B) Selective choice

C) Selective attention

D) Selective embellishment

E) Selective retention

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35) Ultimately, the amount of steel sold to General Motors depends on the con- sumer's demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand forms is most pertinent?

A) I nelastic demand

B) Static demand

C) Relational demand

D) Derived demand

E) Geographic demand

36) In order to successfully develop customer reference stories, firms should

A) use very few direct customer quotes

B) state the customer's needs in compelling terms

C) describe the company's solution in terms of products and services

D) avoid referencing the barriers to satisfying customer needs

E) focus on qualitative results

37) Xerox offers a approach to prospective clients when it offers a com-

plete turnkey solution, including the operation and management of the client's information and communication need.

A) direct buying

B) supply buying

C) pri mary buyi ng

D) systems buying

E) co-op buyi ng system

38) Using the form of solution selling, w.w. Grainger employees work at

large customer facilities to reduce materials-management costs.

A) solutions to reduce customer costs

B) solutions to decrease customer risks

C) solutions to alter corporate culture

D) solutions to enhance customer revenues

E) sol utions to partnersh i ps

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39) The closest re'a:,onships between customers and suppliers arise when

A) there are many undifferentiated vendors in the marketplace

B) supply is important to the customer

C) procurement is simple

0) the customer is highly price sensitive E) all of the above

40) The argument for marketing is that it creates the largest potential

market, which leads to the lowest costs, which in turn can lead to lower prices or higher margi ns.

A)

differentiated

B)

macro

C)

mass

0)

niche

E)

micro

41)A consists of two parts: a naked solution and discretionary options.

A) flexible market offering

B) differentiated market offering

C) vertical market offering 0) rigid market offering

E) horizontal market offering

42) Rock band Foo Fighters created a digital street team that sends targeted e-mail messages to members who receive exclusive news, previews, and op-

portunities to win prizes. The Foo Fighters are using to reach Gen-

eration Y.

A) online buzz

B) computer games

C) unconventional sports 0) cool events

E) student ambassadors

43) A company can be said to have used if the company distinguished

among customers ouying on the basis of price, service, and quality.

A) global segmentation

B) microsegmentation

C) strategic segmentation 0) macrosegmemation

E) short-term segmentation

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44) During which step of the segmentation process would the marketer group customers into segments based on similar needs and benefits sought by the customer in solving a particular consumption problem?

A) Step 6 segment "acid test"

B) Step 2 segment identification

C) Step 7 marketing-mix strategy

D) Step 1 needs-based segmentation

E) Step 3 segment attractiveness

45) Three pillars that point to the brand's future value, rather than just reflecting its past, are differemiation, energy, and relevance. Differentiation, energy, and

relevance combine to determine what is called brand _

A) strength

B) image

C) depth

D) knowledge

E) position

46) According to the BRANDZ model of brand strength, brand building involves

a sequential series of steps. Which of these steps would address or answer the question "Do I know about it?"

A) relevance

B) advantage

C) bonding

D) presence

E) performance

47) All of the following are considered to be among the "six brand building

blocks" EXCEPT _

A) brand performance

B) brand pride

C) brand feelings

D) brand imagery

E) brand salience

48) Brand names are not the only important brand element. Often, , the

more important it is that brand elements capture the brand's intangible char- acteristics.

A) the less concrete brand benefits are

B) the more concrete brand benefits are

C) the more varied brand perceptions are

D) the more sophisticated brand benefits are

E) the less varied brand perceptions are

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49) Marketers C" ':'umain Dew created the multi-city Dew Action Sports Tour where athletes compete in skateboarding, MBX, and freestyle motocross

events to establish a meaningful with its 12-24-year-old target mar-

ket.

A) brand asset

B) internal brand

C) brand salience

D) brand element

E) brand contact

50) To achieve a ooint-of-parity (POP) on a particular attribute or benefit, a suf-

ficient number of consumers must believe that the brand is " " on

that dimension.

A) good enough

B) neutral

C) marginal

D) most excellent

E) service based

51) Which of the following common product life-cycle patterns would be charac- terized as being one where sales grow rapidly when the product is first intro- duced and then fall to a "petrified" level that is sustained by late adopters buying the product for the first time and early adopters replacing the product?

A) Cycle-recycle pattern

B) Inverse-cycle pattern

C) Scalloped pattern

D) Reverse-cycle pattern

E) Growth-slump-maturity pattern

52) In the decline e-rase of the product life cycle, if a firm "milks" the firm's

investment to recover cash quickly, it is using a strategy called _

A) abandonment

B) harvesting

C) position i ng

D) psychological divestment

E) reverse engineer ng

53) While looking a series of special-case product life cycles, you observe that one of the life cycles has had a rapid growth in sales resulting in a severe peak of the sales curve to.rowed by a rapid decline. Which of the following product life-cycle curves IS most likely represented by the above illustration?

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A) Style I ife cycle

B) Niche life cycle

C) Techno life cycle

D) Fad life cycle

E) F ash ion life cyc Ie

54) As an entrepreneur you have decided to launch two products simultaneously

to capture two different parts of the market. You are employing a(n) _

A) single-niche strategy

B) multiple-niche strategy

C) standardization strategy

D) adaptive strategy

E) mass-market strategy

55) A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied. Which of the following is the best illustration of the threat of suppliers' growing bargaining power?

A) McDonald's is the .argest fast-food franchise and is still growing.

B) Sears unsuccessfully attempted to compete with Wal-Mart and Kmart.

C) Wal-Mart has almost no competitors in its marketspace.

D) Oil companies rrust purchase a significant amount of their product from OPEC.

E) The U.S. Post Office has merged package operations with Fed Ex.

56) A firm that IS willir-g to maintain its market share and not rock the boat is

known as a _

A) market entrant

B) market nicher

C) market leader

D) market challenger

E) market follower

57) defense Involves occupying the most desirable market space in the

minds of the const.rners, making the brand almost impregnable.

A) Mobile

B) Preemptive

C) Position

D) Flank

E) Contraction

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58) All of the :c : "'Ig are considered market follower strategies EXCEPT

A) imitator

B) adapter

C) innovator

0) counterfeiter E) cloner

59) When a buyer thinks of performance running shoes, the first name that comes

to mind is Nike. Ir this example, Nike has a high _

A) share of mind

B) share of innovation

C) share of heart

0) share of pocketbook E) share of marker

60) Most products can be offered with varying that supplement its basic

function.

A) reliability

B) features

C) forms

0) conformance qualities E) none of the above

61) Companies normally develop product lines rather than single products and re-

quire sellers to establish quality differences between price steps

within the line.

A) monetary

B) imaginary

C) perceived 0) actual

E) none of the aoove

62)Many sellers offer either general or specific guarantees. Guarantees reduce the

buyer's risk.

A) perceived

B) real

C) implied 0) stated E) actual

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63) If the Porsche 911 IS designed to accelerate to 60 miles per hour within 10 seconds, and every Porsche 911 coming off the assembly line does this,

the model is said to have high _

A) durability

B) reliability

C) conformance quality

D) style

E) repairability

64) Services cannot be seen, tasted, felt, or heard before they are bought. To reduce uncertainty, buyers will look for evidence of quality. They will draw inference about quality from place, people, and price they see. Therefore, the

service provider's task is to " "

A) provide high tOUC'l, high price

B) manage the evidence

C) communicate value

D) go full speea aneaa

E) none of the above

65) There is a(n) where consumer perceptions on a service dimension

would be deemec satisfactory, anchored by the minimum level consumers would be willing to accept and the level that customers believe can and should be delivered.

A) value definition

B) zone of tolerance

C) empathy

D) zone of forgiveness

E) perceived forgiveness

66) A service company can differentiate itself on three levels. The first is reliabil-

ity, the second s res.lienee, and the third is _

A) assuredness

B) employees

C) teamwork

D) innovativeness

E) none of the aoove

67) Charles Schwab's best customers get their calls answered in 15 seconds;

other customers can wait longer. This is best described as _

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A) standardiz _ ,_ service-performance process

B) raising service levels to retain the patronage of profitable customers

C) customer empowerment through the Internet

D) fair play in service delivery

E) increasing cor-s.i+ sr oarticipation

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68) Purchase decisions are based on how consumers perceive prices and what

they consider to be the , not the marketer's stated price.

A) referent price

B) last purchase: ~ Ice

C) current sale price

D) current actual pr ce

E) none of the above

69) Pricing cues Such as sale signs and prices that end in 9 become more influ-

ential when _

A) consumer price k-iowledge is poor

B) items are purchased frequently

C) items have beer 0" the market a long time

D) they are employea freauently

E) prices are cons.ster t year-round

70) Pricing methods narrow tne range from which the company selects its final price. In selecting t~at price, the company must consider additional factors, including the rrnoact of other marketing activities, company pricing policies,

gain-and-risk-snarmg pricing, and the impact of price on _

A) marketing act v t.es

B) channels of c str J _ Lon

C) channel partners

D) other parties

E) none of the above

71) A major crrcurnsta=ce orovoking price increases is _

A) cost inflation

B) profitability versus target

C) stock price versus target price

D) price versus COlT le- : Or]

E) market demanc

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72) Channel objectives should be stated in terms of service output

levels.

A) efficient

B) affordable

C) budgeted

D) targeted

E) none of the above

73) By granting , the producer hopes to obtain more dedicated and

knowledgeable se I' ng.

A) exclusive distribution

B) extensive distribution

C) selective distribution

D) random distribut or

E) intensive d istn bution

74) Manufacturers are constantly tempted to move from exclusive or selective

distribution to more Intensive distribution in order to _

A) enter the market

B) leave the market

C) decrease coverage and sales

D) increase coverage ard sales

E) none of the aoove

75) The sales of your product are low compared to your competition. The deci- sion facing you S wnetner to use a sales agency (brokers, manufacturers' rep- resentatives) or ,- 'E a fielo sales force. The fixed costs of engaging a sales agency are lower tnan those of establishing a company sales force, but costs rise faster through an agency. When figuring out sales and costs, the inter- section of the costs between sales agencies and sales force (SB) means that

A) the sales age"'c) s me Detter cnoice for any sales volume below this point

B) the sales age :c; s t-ie Detter choice for any sales volume above this point

C) above SB means mat the comoany's costs escalate

D) the sales force s the better choice for any sales volume below this point

E) both choices are eq.,a ,y gooa choose the one that you are most comfortable with

76) meas res 2: orocuct's nandling costs from the time the product

reaches the warerc.rse .mtil a customer buys it in the retail store.

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A) Direct proc.. . .,.::e analysis

B) Profitab.. _ )",IS

C) Brand management

D) Direct product proftability analysis

E) Shelf management

77) rerers to ouyrng large carload lots and dividing them into smaller

units before snipoing them out to consumers.

A) Containerizatior

B) Warehousing

C) Market logrs: ,>

D) Wholesaling

E) Bulk breaking

78) At some stoc« eve pomt, management must reorder product to refill the

inventory to a"l acceptable level. This point is called the _

A) inventory carryi ng costs

B) minimum inventory level

C) order (reorder' po --

D) inventory

E) none of the above

79) As a marker ng -itern your job is to "hang out at the mall" and note the per- centage of pe..o c ~\ ~o enter a particular store versus those who pass by it.

This is an eXa'TD e c~ for retailers.

A) measuring censu-r-er shopping patterns

B) measuring reta sales effectiveness

C) measuring (lril!cr- SS"11ert effectiveness

D) measuring reta .ocanons

E) measuring too: .raft:c at the mall

80) The hierarcr y-ct-e+ects model contains awareness, knowledge, liking, ___ , co',\' ::'I un ana purchase.

A) attitude

B) cognitive response

C) preference

D) interest

E) none of the acove

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81) The two-step flow of information cna .. E: ges the notion that consumption

styles a "trickle-down" or "trickle-up" effect from mass media.

A) originate with

B) are affected by

C) start with

D) are primarily innuenced by

E) are secondarily Influenced by

82) An effectively trained company sales force can make four important contri buttons. enthus asrr b., ding, missionary selling, key account management,

and _

A) increased stock position

B) customer co-r ac-s

C) relationshio sel i'lg

D) account manage r.er t

E) direct sales co uacts

83) Cornrnunicat or s-rr x allocations vary between consumer and business mar- kets. Consu-ner r~arKeters tend to spend comparatively more on sales promo tion and adverris 19 oi.siness marketers tend to spend comparatively more on

A) word-of-mol t,., rrarkering

B) personal se I -g

C) events and en2rl2 ces

D) direct market 19

E) interactive marketing

84) In decidirg C' 2r ad c.icget, marketers must recognize that consumer re- sponse can Sf. -snaped An ad threshold effect exists where some positive amount of advertising is necessary before any sales impact can be detected, ou: sales .creases eventua Ily flatten out.

A) C

B) M

C) S

D) Y

E) T

85) The higher ~'1e associated with a brand, product category, or mes-

sage, the h grer :he warranted level of repetition.

A) total number of exoosures

B) target audience rr-ecia 'iabits

C) impact

D) forgetting rate

E) reach

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86) A cor(;Ja~ f - _c on how to allocate its advertising budget over space

as we.l s . c. A company makes "spot buys" when it buys TV time in

just a few markets or in regional editions of magazines. These markets are

called _

A) SMSA

B) trading are=,

C) areas OT do, -I'larr nfuence

D) short-term rnarxet.ng opportu n rties

E) none of the above

87) Althoi .. gn v_ d::d aovert sing has limited audience selectivity, it _

A) is subject to lOW con.oention

B) is very expensive

C) offers low repeat excosure

D) is highly ir~ "'x be

E) all of tne aoove

88) Direct rnarketog os=r ts the of alternative media and messages in

search of the rr ost cost-effective approach.

A) accent

B) testing

C) use

D) outsourcing

E) implernenta.icr

89) Once the target market IS defined, the marketer needs to obtain specific names, whic ' (:2 ~ J2 obtained by purchasing a list of names. The better lists

i nc I ude OVE::r aye:. ,; and information.

A) demographic r.r.anc.al

B) dernographc att 'Lees

C) financial; buy ng groups

D) demograpr .c- os 'c~ograpnlc

E) opinions; rr te cS:S

90) The term sa 2::0 reo .esentative covers a broad range of positions. We call a sales represe ~i:: Jf'- w'Jse expertise is in the solving of a customer's problem

a(n) _

A) demand creator

B) order taker

C) missionary

D) solution ve-ico-

E) technician

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91) Salespeople need to know how IO 'c' .:g~' ze closing signs from the buyer, in-

cluding physical actions, statements or comments, and _

A) objections

B) concerns

C) products

D) actions

E) questions

92) The techniq.re for stimulating creativity starts with a problem, such

as "getting sorr etn ng from one place to another via a powered vehicle," then lists every POSSlt e cor-ioination of attributes, such as the type of platform, the medium, and the power source.

A) reverse assurnpt.or aoalysis

B) forced relations- os

C) rnorphologica aoal.s s

D) lateral market ng

E) attribute listing

93) A 0:::25 "'~crey, but .ts sales cover all its variable costs and some

of the fixea costs

A) market produc. failure

B) relative product +2 ",re

C) partial proo.ict +2 re

D) transfer oroe Jcr a ,-,re

E) strategic proct.cr failure

94) The job of traos at 'lg target customer requirements into a working prototype

is helped by c. Se c +ethods Known as _

A) marketi ng centre

B) R&D

C) quality com-e ') r;CEsses (Qi="P)

D) quality fur-ct r.r ie : .yrnent (QFD)

E) none of the acove

95) A(n) r c a-iv zcoo. service, or idea that is perceived as new, no mat-

ter how iong :s ~, sc

A) creative prOCJCi

B) new idea

C) product

D) innovation

E) none of tne aJ(.J~

Marketi

ment

96) A cor ~c. ' . urrect exporting in several ways, These include do-

mestic- a .t-"vrI deoartment or division, overseas sales branch or subsid-

iary, traveung export sales representatives, and _

A) export management companies

B) rnarketng l."':_' S"S2G .n the foreign country

C) toreign-oa- :.. .... tors or agents

0) export mer., lams III rorergn countnes E) none of the above

97) In _

i ng the corn;

.res .ocal manufacturers to produce the product, giv- troi over the manufacturing process.

A) managemem contracts

B) franchising

C) licensing

0) contract r-", _'2:', I' g E) none of the c.'J'J/e

98) Forces prornotng g ooal integration Include _

A) heteroger ec S cerr-a=c

B) strong consi.=er -es.stance w foreign goods

C) strong loca, ore.e-e "ces

0) local stanaaras and barriers E) capital-inters ve croc. .. c: on

99) Strategy accres=es tne and the of marketing activities.

A) what; Why

B) what; who

C) what; how 0) what; wher E) who; how

100) A cornoar j ca. 'lave an excellent marketing department and yet fail at marketing V'uc' depends on how other company departments view custom

ers. Only wre- - er oloyees realize that their jobs are to ,

____ , ana customers does the company become an effective

marketer.

A) create· serve savst

B) create; uste- ce iver

C) listen; create; sarsy 0) serve; lister' oe.lver E) deflect, moru.or .srer

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