MKT100-HK. PRINCIPLES OF MARKETING (MKT100-HK) > CONTROL PANEL > GRADEBOOK > MODIFY GRADE > GRADE ATTEMPT

Grade Assessment Final Exam Name Final Exam Status Completed Score 96 out of 100 points Instructions This exam consists of 100 equally weighted questions. Always pick the single best answer. Questions that are skipped or are submitted with multiple answers will be scored as incorrect. Clear Attempt Click Clear Attempt to clear this user’s attempt. Clear Attempt Comments Modify Comments

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

Question 2 Multiple Choice out of 1 points 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.

Question 3 Multiple Choice out of 1 points 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.

Question 4 True/False out of 1 points Coca-Cola is an example of a firm that markets to the world with a standardized marketing mix with a few local adaptations. Given Answer: True Correct Answer: True

Question 5 Multiple Choice out of 1 points If a retailer were looking for a specialized wholesaler to set up and maintain a counter of toys, paperbacks, or health and beauty aids (retaining title to the goods until they were sold), they would seek out a: Given Answer: c. rack jobber. Correct Answer: c. rack jobber.

Question 6 True/False out of 1 points Public relations is often described as a marketing stepchild because of its limited and scattered use. Given Answer: True Correct Answer: True

Question 7 Multiple Choice out of 1 points The first step in developing an advertising program should be to: Given Answer: a. set advertising objectives. Correct Answer: a. set advertising objectives.

Question 8 Multiple Choice out of 1 points The criticism of marketing for packaging decisions that add "only" psychological value to products rather than functional value relates to which social criticism of marketing? Given Answer: b. high advertising and promotion costs

Correct Answer: b. high advertising and promotion costs

Question 9 Multiple Choice out of 1 points According to the chapter, all of the following have promoted the importance of the media-planning function EXCEPT: Given Answer: b. the development of the Internet. Correct Answer: b. the development of the Internet.

Question 10 Multiple Choice out of 1 points 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: Given Answer: d. joint ownership. Correct Answer: d. joint ownership.

Question 11 True/False out of 1 points Market fragmentation has also resulted in profit fragmentation. Given Answer: False Correct Answer: False

Question 12 Multiple Choice out of 1 points The fastest-growing sales force technology tool is: Given Answer: d. the Internet. Correct Answer: d. the Internet.

Question 13 Multiple Choice out of 1 points Marketers are sometimes accused of deceptive practices that lead consumers to believe they will get more value than they actually do. ______________ includes

practices such as falsely advertising "factory" or "wholesale" prices or a large price reduction from a phony high retail price. Given Answer: a. Deceptive promotion Correct Answer: c. Deceptive pricing

Question 14 Multiple Choice out of 1 points A price reduction to buyers who buy in large volumes is called a: Given Answer: a. quantity discount. Correct Answer: a. quantity discount.

Question 15 Multiple Choice out of 1 points The rapid move toward globalization means that all companies will have to answer some basic questions. All of the following would potentially be among those questions EXCEPT: (Pick the LEAST LIKELY from among the choices.) Given Answer: d. how many international directors should we have on our board? Correct Answer: d. how many international directors should we have on our board?

Question 16 Multiple Choice out of 1 points 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.

Question 17 Multiple Choice out of 1 points If a retailer were to offer the consumer a "two for one" deal in purchasing merchandise, which of the following sales promotional techniques would have been used? Given Answer: d. price packs Correct Answer: d. price packs

Question 18 True/False out of 1 points Too many retailers fail to define their target markets and positions clearly. Given Answer: True Correct Answer: True

Question 19 Multiple Choice out of 1 points 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.

Question 20 Multiple Choice out of 1 points If an advertiser were to use corporate stationery, brochures, signs, and business cards to advance the public relations interests of the company, they would be using which of the following forms of PR? Given Answer: c. corporate identity materials Correct Answer: c. corporate identity materials

Question 21 True/False out of 1 points Selective distribution is a characteristic of the introduction stage of the PLC. Given Answer: True Correct Answer: True

Question 22 Multiple Choice out of 1 points The most expensive form of transportation with respect to shipping goods is: Given Answer: c. air. Correct Answer: c. air.

Question 23 Multiple Choice out of 1 points In terms of execution styles, a family seated at the dinner table enjoying the advertised product would be an example of which of the following types of advertising? Given Answer: a. slice of life Correct Answer: a. slice of life

Question 24 Multiple Choice out of 1 points A ____________________ is a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation. Given Answer: b. broker Correct Answer: b. broker

Question 25 Multiple Choice out of 1 points 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.

Question 26 Multiple Choice out of 1 points 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: a. market-penetration pricing Correct Answer: a. market-penetration pricing

Question 27 Multiple Choice out of 1 points The communications process should start with: Given Answer: b. an audit of all the potential contacts target customers have with the company and its brands. Correct Answer: b. an audit of all the potential contacts target customers have with the company and its brands.

Question 28 Multiple Choice out of 1 points 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 29 True/False out of 1 points A hypermarket is characterized as being a huge store (sometimes as large as six football fields) that carries a large assortment of routinely purchased items. Given Answer: True Correct Answer: True

Question 30 Multiple Choice out of 1 points Disagreement over the goals and roles of marketing channel members is called: Given Answer: d. channel conflict. Correct Answer: d. channel conflict.

Question 31 Multiple Choice out of 1 points The element of the compensation mix for salespeople that refers to commissions or bonuses is the: Given Answer: b. variable amount. Correct Answer: b. variable amount.

Question 32 Multiple Choice out of 1 points According to recent studies, all of the following are ways direct marketing benefits customers EXCEPT: Given Answer: c. the goods are always cheaper. Correct Answer: c. the goods are always cheaper.

Question 33 Multiple Choice out of 1 points A(n) _________ is a straight reduction in price on purchases during a stated period of time. Given Answer: b. discount Correct Answer: b. discount

Question 34 Multiple Choice out of 1 points If a salesperson's position demands creative selling (such as in selling an airplane or insurance), their position is classified as being one of a(n): Given Answer: a. order getter. Correct Answer: a. order getter.

Question 35 Multiple Choice out of 1 points 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

Question 36 Multiple Choice out of 1 points At least four political-legal factors should be considered in deciding whether to do business in a given country. All of the following would be among these factors

EXCEPT: Given Answer: b. presence of the Internet among consumers. Correct Answer: b. presence of the Internet among consumers.

Question 37 True/False out of 1 points With respect to the environmental sustainability grid, a chief issue in product stewardship would be "can we add value or lower costs while simultaneously reducing the impact of our products." Given Answer: True Correct Answer: True

Question 38 Multiple Choice out of 1 points If a company sells its product directly to the consumer without using any intermediaries, it is using a(n): Given Answer: a. direct marketing channel. Correct Answer: a. direct marketing channel.

Question 39 Multiple Choice out of 1 points 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: a. advertising Correct Answer: c. public relations

Question 40 Multiple Choice out of 1 points 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

Question 41 True/False out of 1 points 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

Question 42 True/False out of 1 points Integrated direct marketing is a direct-marketing campaign that uses multiple vehicles and multiple stages to improve response rates and profits. Given Answer: True Correct Answer: True

Question 43 Multiple Choice out of 1 points A ____________ 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

Question 44 Multiple Choice out of 1 points From a whole-channel view of international marketing, the element that supervises the channel and is part of the channel itself is (are) the: Given Answer: b. seller's headquarters organization. Correct Answer: b. seller's headquarters organization.

Question 45 True/False out of 1 points 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 Correct Answer: False

Question 46 True/False out of 1 points Good examples of captive-product pricing are razor blades and camera film. Given Answer: True Correct Answer: True

Question 47 Multiple Choice out of 1 points Every store has a physical layout that makes moving around in it either hard or easy. This "feel" is called: Given Answer: c. store atmosphere. Correct Answer: c. store atmosphere.

Question 48 Multiple Choice out of 1 points 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

Question 49 Multiple Choice out of 1 points Companies with ___________ can set lower prices that result in greater sales and profits. Given Answer: c. lower costs Correct Answer: c. lower costs

Question 50 True/False out of 1 points

The strongest form of a quota is the exchange control device. Given Answer: False Correct Answer: False

Question 51 Multiple Choice out of 1 points ________________ includes practices such as overstating the product's features or performance, luring the customer to the store for a bargain that is out of stock, or running rigged contests. Given Answer: a. Deceptive promotion Correct Answer: a. Deceptive promotion

Question 52 True/False out of 1 points According to the American Marketing Association Code of Ethics, marketers' professional conduct must be guided by the basic rule of professional ethicsÄÄlet the buyer beware. Given Answer: False Correct Answer: False

Question 53 Multiple Choice out of 1 points 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

Question 54 Multiple Choice out of 1 points A men's custom-shirt store would be a good example of which of the following? Given Answer: a. superspecialty store Correct Answer: a. superspecialty store

Question 55 Multiple Choice out of 1 points The largest retail stores, perhaps as large as six football fields, which combine food, discount, and warehouse retailing, are called: Given Answer: b. hypermarkets. Correct Answer: b. hypermarkets.

Question 56 Multiple Choice out of 1 points 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 Correct Answer: a. affordable method

Question 57 Multiple Choice out of 1 points All of the following would be considered to be major public relations tools EXCEPT: Given Answer: c. testifying. Correct Answer: c. testifying.

Question 58 Multiple Choice out of 1 points The typical method of retail operation used by supermarkets and nationally branded fast-moving shopping goods is called: Given Answer: a. self-service retailing. Correct Answer: a. self-service retailing.

Question 59 Multiple Choice out of 1 points Which tool of the promotional mix is defined as any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor? Given Answer: a. advertising Correct Answer: a. advertising

Question 60 Multiple Choice out of 1 points 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.

Question 61 Multiple Choice out of 1 points Keeping consumers thinking about the product is the objective for which type of advertising? Given Answer: c. reminder advertising Correct Answer: c. reminder advertising

Question 62 Multiple Choice out of 1 points 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.

Question 63 Multiple Choice out of 1 points _____________ is all the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use. Given Answer: d. Retailing Correct Answer: d. Retailing

Question 64 Multiple Choice out of 1 points Through supervision, a company: Given Answer: c. directs and motivates the sales force to do a better job. Correct Answer: c. directs and motivates the sales force to do a better job.

Question 65 Multiple Choice out of 1 points All of the following are among the general goals of most training programs EXCEPT: Given Answer: d. to have salespeople know about the fine line between bribery and perks. Correct Answer: d. to have salespeople know about the fine line between bribery and perks.

Question 66 True/False out of 1 points Western Auto would be a good illustration of a retailer cooperative. Given Answer: False Correct Answer: False

Question 67 True/False out of 1 points Snowboarding using a Burton Snow Board could be a theme incorporated into a lifestyle commercial. Given Answer: True Correct Answer: True

Question 68 Multiple Choice out of 1 points _____________ is the sum of the values that consumers exchange for the benefits of having or using the product or service. Given Answer: a. Price Correct Answer: a. Price

Question 69 True/False out of 1 points A straight product extension occurs when a company creates a new product or service

for a foreign market. Given Answer: False Correct Answer: False

Question 70 Multiple Choice out of 1 points __________________ is well suited to highly targeted marketing efforts and to building one-to-one customer relationships. Given Answer: d. Direct marketing Correct Answer: d. Direct marketing

Question 71 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

Question 72 Multiple Choice out of 1 points Another name for a company's marketing communications mix is: Given Answer: d. the promotion mix. Correct Answer: d. the promotion mix.

Question 73 Multiple Choice out of 1 points ______________ set(s) the floor for the price that the company can charge for its product. Given Answer: c. Costs Correct Answer: c. Costs

Question 74 Multiple Choice out of 1 points

____________ like to sit or stand very close to each other when they talk businessÄÄin fact, almost nose-to-nose. This may be offensive to foreigners. Given Answer: b. South Americans Correct Answer: b. South Americans

Question 75 Multiple Choice out of 1 points The type of industrial structure characterized by one or more rich sources of natural resources but poor in other ways is called: Given Answer: a. raw-material exporting economies. Correct Answer: a. raw-material exporting economies.

Question 76 Multiple Choice out of 1 points 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

Question 77 True/False out of 1 points A voluntary chain is a wholesaler-sponsored group of independent retailers that engages in group buying and common merchandising. Given Answer: True Correct Answer: True

Question 78 Multiple Choice out of 1 points Traditional wholesale functions include all of the following EXCEPT: Given Answer: a. production. Correct Answer: a. production.

Question 79 Multiple Choice out of 1 points _____________ is defined as the analysis, planning, implementation, and control of sales force activities. Given Answer: a. Sales force management Correct Answer: a. Sales force management

Question 80 Multiple Choice out of 1 points Setting call objectives is done during which of the following stages of the selling process? Given Answer: b. preapproach Correct Answer: b. preapproach

Question 81 Multiple Choice out of 1 points All of the following are cited by the text as being forms of direct marketing communication EXCEPT: Given Answer: d. online marketing. Correct Answer: a. specialty advertising.

Question 82 Multiple Choice out of 1 points Many products that appear to be American are in fact produced or owned by foreign companies. All of the following are foreign produced or owned EXCEPT: Given Answer: a. Gillette razor blades. Correct Answer: a. Gillette razor blades.

Question 83 Multiple Choice out of 1 points 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

Question 84 Multiple Choice out of 1 points Which of the following promotional budget methods wrongly views sales as the cause of promotion rather than as the result? Given Answer: b. percentage-of-sales method Correct Answer: b. percentage-of-sales method

Question 85 Multiple Choice out of 1 points 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

Question 86 Multiple Choice out of 1 points How does a company respond to a price change by a competitor. The text suggests four alternative strategies. Which of the following WOULD NOT be among those four strategies? Given Answer: d. increase price to force response Correct Answer: d. increase price to force response

Question 87 True/False out of 1 points Product stewardship is minimizing pollution from production and all other environmental impacts throughout the full product life cycle. Given Answer: True Correct Answer: True

Question 88 Multiple Choice out of 1 points Gathering and distributing marketing research and intelligence about the marketing

environment is part of which of the following marketing channel functions? Given Answer: a. information Correct Answer: a. information

Question 89 Multiple Choice out of 1 points Current trends in communications and promotions indicate that companies are doing less: Given Answer: b. broadcasting and more narrowcasting. Correct Answer: b. broadcasting and more narrowcasting.

Question 90 Multiple Choice out of 1 points 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.

Question 91 True/False out of 1 points One of the critical problems with the territorial sales force structure is that because of extensive travel, travel expenses are relatively large. Given Answer: True Correct Answer: False

Question 92 Multiple Choice out of 1 points 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 93 Multiple Choice out of 1 points 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

Question 94 Multiple Choice out of 1 points Despite its potential strengths, public relations is often described as a(n): Given Answer: b. marketing stepchild. Correct Answer: b. marketing stepchild.

Question 95 Multiple Choice out of 1 points _____________ is offering just the right combination of quality and good service at a fair price. Given Answer: a. Value pricing Correct Answer: a. Value pricing

Question 96 Multiple Choice out of 1 points When different versions of a product are priced differently but not in accordance to differences in their value, it is a form of: Given Answer: b. product-form pricing. Correct Answer: b. product-form pricing.

Question 97 Multiple Choice out of 1 points When an importing country sets limits on the amount of goods it will accept in certain product categories it is called a(n): Given Answer: a. quota. Correct Answer: a. quota.

Question 98 Multiple Choice out of 1 points 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

Question 99 Multiple Choice out of 1 points 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.

Question 100 Multiple Choice out of 1 points James Manufacturing would like to do test marketing on a new bicycle that it has just developed, however, cost is a serious consideration. James Manufacturing has just been approached by a firm called Simul-Shop that has offered to study the bicycle market using a unique approach that will only cost about $25,000. Which of the following innovative test marketing methods is James Manufacturing probably considering? Given Answer: a. virtual reality research Correct Answer: a. virtual reality research