Question
Question 1
Questions such as "How often would you buy this product?" and "Which features are of little or no interest to you?" are often proposed during
a) concept testing.
b) product development.
c) screening.
d) idea generation.
e) test marketing.
Correct
Question 2
The main characteristic of a ____ is that customers are satisfied to the point that they use a service repeatedly over a period of time.
a) service relationship
b) professional marketer
c) high-contact service
d) heterogeneous service
e) client-based relationship
Correct
Question 3
Three major ways in which marketers engage in product differentiation are
a) product quality, product design and features, and product support services.
b) product quality, product support services, and packaging.
c) product support services, product design and features, and product positioning.
d) product positioning, product quality, and product management.
e) product positioning, product design and features, and product promotion.
Correct
Question 4
During which stage of new-product development does the firm consider profitability?
a) Idea generation
b) Testing
c) Business analysis
d) Product development
e) Compatibility research
Correct
Question 5
The degree to which the price of a product enhances a customer's satisfaction with the purchase experience and with the product after the purchase is part of their
a) response.
b) reference.
c) interpretation.
d) price satisfaction.
e) price-consciousness.
Correct
Question 6
What do all of the following have in common: tuition, fee, premium, retainer, dues?
a) They all must be paid in cash.
b) They are forms of exchange similar to, but not identical with, money.
c) They are forms of exchange similar to, but not identical with, barter.
d) They are different terms for the concept of price.
e) They have nothing in common.
Correct
Question 7
When marketers emphasize price as an issue and match or beat the prices of other companies, they are using
a) price competition.
b) nonprice competition.
c) comparative pricing strategies.
d) demand-based pricing.
e) supply-based pricing.
Correct
Question 8
What a price means or what it communicates to customers is called
a) reference.
b) response.
c) interpretation.
d) internalization.
e) signaling.
Correct
Question 9
When a company prices one item in a line low with the intention of selling a higher-priced item in the same line, it is using
a. bait pricing.
b. a price leader.
c. penetration pricing.
d. price lining.
d. captive pricing.
Correct
Question 10
A firm establishes which of the following pricing objectives to maintain or increase its product's sales in relation to total industry sales?
a. Cash flow
b. Sales potential
c. Product quality
d. Market share
d. Status quo
Correct
Question 11
Price leaders, comparison discounting, and special-event pricing are applications of
a. psychological pricing.
b. professional pricing.
c. product-line pricing.
d. bait-and-switch.
e. promotional pricing.
Correct
Question 12
A product that has more features than those of its competition, or that is perceived to be of higher quality, warrants using which type of pricing strategy?
a. Custom pricing
b. Special-event pricing
c. Premium pricing
d. Price lining
e. Bait pricing
Correct
Question 13
Many companies use more than one marketing channel to distribute their products to the same target market, a tactic called
a) multiple channeling.
b) strategic channel alliance.
c) intensive distribution.
d) dual distribution.
e) market splitting.
0 out of 6 points
correct
Question 14
What is the most expensive physical distribution function?
a) Warehousing
b) Order processing
c) Inventory management
d) Transportation
e) Materials handling
Correct
Question 15
Because of the significant investment many companies have in the products they sell to customers, they must develop and maintain adequate varieties of products to meet their customers' needs. This is called
a) just-in-time.
b) order processing.
c) inventory management.
d) merchandise stocking.
e) logistical management.
0 out of 6 points
correct
Question 16
The contracting of physical distribution tasks to third parties who do not have managerial authority within the marketing channel is known as
a) illegal.
b) logistics.
c) warehousing.
d) wholesaling.
e) outsourcing.
Correct
Question 17
Merchant wholesalers who specialize in just a few functions and pass others along to other intermediaries or customers are called
a) limited-service wholesalers.
b) wholesale service specialists.
c) general-line wholesalers.
d) specialty-line wholesalers.
e) specialty-service wholesalers.
Correct
Question 18
Which of the following is a full-service merchant wholesaler?
a) Cash-and-carry wholesaler
b) General merchandise wholesaler
c) Drop shipper
d) Mail-order wholesaler
e) Truck wholesaler
Correct
Question 19
An agent that receives goods on consignment from local sellers and negotiates sales in large, central markets is called a
commission merchant.
sales branch agent.
selling agent.
manufacturers' agent.
broker-agent.
Question 20
If a store has areas for men's apparel, women's apparel, housewares, cosmetics, and jewelry and competes mostly on the basis of service, it is a(n)
off-price retailer
department store.
discount store.
superstore.
supermarket.
Correct