Marketing Final Study PDF

1. Protection of consumer privacy is a major ethical issue faced by social media marketers.   a.  True --- ----- -------   b.  False +-----------------------------------------------------------------------+ | 2. A product's package has a negligible effect on the purchase | | d...

1. Protection of consumer privacy is a major ethical issue faced by social media marketers.   a.  True --- ----- -------   b.  False +-----------------------------------------------------------------------+ | 2. A product's package has a negligible effect on the purchase | | decisions of potential buyers. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 3. A manufacturer's brand that was once widely distributed but is now | | limited to one or two retail outlets exclusively is called a captive | | brand. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 4. The compensation system for sales representatives is often tied to | | sales quotas. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 5. Public and private consumer groups like Mothers Against Drunk | | Driving (MADD) are not considered to be part of the legal | | environment. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 6. Jan just received a bookmark from a publisher. On the bookmark is | | the name of an upcoming novel by a best-selling author. The bookmark | | is an example of specialty advertising. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 7. Once consumers have used a product, seen it advertised, or noticed | | it in a store, it moves from the unknown to the known category, which | | increases the probability that they will purchase it. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 8. Interactive marketing refers to buyer--seller communication in | | which the customer controls the amount and type of information | | received from a marketer. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 9. The practices of price fixing, bid rigging, and price | | discrimination are criminal offences. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 10. Under the relationship marketing concept, employees within a firm | | need not apply the same high standards of customer satisfaction to | | internal relationships at they do to external customer relationships. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 11. Tactical plans typically address shorter-term actions that focus | | on current and near-future activities. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 12. One important difference between for-profit and not-for-profit | | organizations is that for-profits often market to multiple publics | | rather than the single public on which not-for-profits may focus. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 13. Information technology is a major factor in allowing services to | | be traded internationally. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 14. Team selling is usually a temporary arrangement intended to serve | | the customer from the initial contact through the initial sale. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 15. Sales promotions are long-term activities that need to work | | independently of advertising, publicity, and personal selling in | | order to be effective. | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ ----------------------------------------------------------------------------------------- *Indicate the answer choice that best completes the statement or answers the question.* ----------------------------------------------------------------------------------------- +-----------------------------------------------------------------------+ | 16. When gasoline prices are high, many oil companies promote ways to | | save gas. What process can oil companies begin by providing tips on | | car maintenance, carpooling, and idling in traffic? | | | |   a.  supply control | | --- ----- --------------------- | |   b.  counter advertising | |   c.  brand promotion | |   d.  demarketing | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 17. Which of the following defines an organization's mission? | | | |   a.  process of anticipating future events and conditions | | --- ----- --------------------------------------------------------- | | --------------------------------------------------------------------- | | -- | |   b.  companywide program for scaling down the product-lines th | | at are low on profitability | |   c.  essential purpose that differentiates one company from ot | | hers | |   d.  collection of limited periods during which key requiremen | | ts of a market and a firm's particular competencies best fit together | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 18. WestJet Airlines has one of the lowest levels of operating | | expenses in the airline industry. In a SWOT analysis, what is this | | classified as? | | | |   a.  opportunity | | --- ----- ------------- | |   b.  constraint | |   c.  strength | |   d.  threat | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 19. What is the highest level of corporate social responsibility? | | | |   a.  economic | | --- ----- --------------- | |   b.  legal | |   c.  ethical | |   d.  philanthropic | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 20. What part of a social media marketing plan examines and evaluates | | the competitors' presences in social media, including the platforms | | and tools they select and their overall effectiveness? | | | |   a.  competitive analysis | | --- ----- ---------------------- | |   b.  executive summary | |   c.  overview | |   d.  body | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 21. What term refers to a trade restriction that limits the number of | | units of products in certain categories that can cross a country's | | boundary for resale? | | | |   a.  protective tariff | | --- ----- ------------------- | |   b.  embargo | |   c.  import quota | |   d.  subsidy | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 22. What do we refer to when we discuss the revenues and intangible | | benefits accrued to the firm, minus the investment to attract and | | keep a customer? | | | |   a.  gradient of return on investment | | --- ----- ---------------------------------- | |   b.  intangible benefit stream | |   c.  investment-benefit differential | |   d.  lifetime value of the customer | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 23. What do we call the organizational function and set of processes | | that create, communicate, and deliver value to customers, and that | | manages customer relationships in ways that benefit the organization | | and its stakeholders? | | | |   a.  marketing | | --- ----- ---------------- | |   b.  finance | |   c.  sales | |   d.  administration | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 24. A Canadian firm is considering marketing its products in another | | country. The new market is attractive, but the country's cultural and | | legal environments are different from those in Canada. Based only on | | the information provided, how should the firm proceed? | | | |   a.  Avoid the new market completely and focus only on the dom | | estic market. | | --- ----- --------------------------------------------------------- | | --------------------------------------------- | |   b.  Enter the new market using the same marketing strategy th | | e firm uses in Canada. | |   c.  Enter the new market using the same marketing strategy th | | e firm employs in existing foreign markets. | |   d.  Enter the new market using a new marketing strategy desig | | ned for that specific market. | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 25. Fred Wilson, a journalist, has a vast knowledge of electronic | | gadgets. His reviews of these products are highly regarded and | | trusted by others. What can Fred Wilson be regarded as? | | | |   a.  influencer | | --- ----- ---------------------- | |   b.  laggard | |   c.  innovator | |   d.  relationship manager | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 26. During recent recessions, how have consumers shifted their buying | | patterns? | | | |   a.  by borrowing money to buy goods | | --- ----- --------------------------------------------------------- | |   b.  by increasing spending across the board | |   c.  by buying now in the belief that prices will rise later | |   d.  by purchasing basic products with low price tags | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 27. What is NOT a responsibility of a category manager? | | | |   a.  setting performance standards and measuring actual result | | s against the standard | | --- ----- --------------------------------------------------------- | | ------------------------ | |   b.  finding growth opportunities | |   c.  staffing the national sales teams | |   d.  determining the marketing mix of the product assortment w | | ithin the category | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 28. What is the difference between a trademark and a brand? | | | |   a.  A trademark gives the manufacturer a claim to exclusive l | | egal protection. | | --- ----- --------------------------------------------------------- | | ------------------ | |   b.  A trademark identifies the company that makes it. | |   c.  A trademark allows the product to be used in the global m | | arketplace. | |   d.  A trademark is that part of a brand that can be vocalized | |. | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 29. Which term refers to the wide range of transactions taking place | | via Internet applications such as email and virtual shopping carts? | | | |   a.  webonomics | | --- ----- ----------------------- | |   b.  e-business | |   c.  Web servicing | |   d.  digital transcription | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 30. What does a salesperson need to handle in a professional and | | informative manner when a potential customer expresses doubt or | | disagreement with the sales presentation? | | | |   a.  questions | | --- ----- ---------------- | |   b.  conflicts | |   c.  buyer concerns | |   d.  opposition | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 31. What is the process of qualifying a sales prospect? | | | |   a.  It is the task of ensuring that the prospect really is a | | potential customer. | | --- ----- --------------------------------------------------------- | | --------------------------------------------------------------- | |   b.  It involves gathering information about the prospect to m | | ake initial contact proceed more smoothly. | |   c.  It is used more frequently by retail salespersons than it | | is by wholesalers' and manufacturers' sales representatives. | |   d.  It involves making the initial contact with the prospect. | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 32. What are the moral standards of behaviour expected by society | | called? | | | |   a.  social responsibilities | | --- ----- ------------------------------------- | |   b.  marketing concepts | |   c.  facilitating functions of marketing | |   d.  ethics | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 33. Which of the following is an example of scrambled merchandising? | | | |   a.  a grocery store carrying canned goods, fresh fish, tropic | | al fruits, and bulk grains | | --- ----- --------------------------------------------------------- | | -------------------------------------- | |   b.  a jewellery store carrying rings, watches, TVs, electroni | | c games, and DVDs | |   c.  a drug store carrying prescription drugs, over-the-counte | | r medications, and health care items | |   d.  a shoe store carrying shoes, shoe polish, socks, and leat | | her bags | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 34. Sally Myers, head of marketing at Sally's Salon, serviced six new | | customers over the past two weeks. Through a feedback form, Sally | | learned that all of them had acted upon the opinions of their friends | | and family members. What did Sally encounter? | | | |   a.  transaction-based marketing | | --- ----- ----------------------------- | |   b.  sales orientation | |   c.  marketing myopia | |   d.  buzz marketing | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 35. How can sales managers best foster an ethical work environment? | | | |   a.  by closely monitoring sales representatives by recording | | phone calls | | --- ----- --------------------------------------------------------- | | ------------- | |   b.  by sending sales people to sensitivity training | |   c.  by making sure that all employees know what is expected o | | f them | |   d.  by monitoring the competition's ethical dilemmas | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 36. Strategic planning has a critical impact on a firm's destiny. | | What does it provide to its decision makers? | | | |   a.  customer input | | --- ----- --------------------- | |   b.  individual goals | |   c.  departmental goals | |   d.  long-term direction | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 37. Which of the following is NOT considered to be a category killer? | | | |   a.  Best Buy electronics stores | | --- ----- ------------------------------------ | |   b.  Walmart department stores | |   c.  Chapters bookstores | |   d.  Home Depot home improvement stores | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 38. What is the main reason why consumers rely on communities created | | by social media for their buying decisions? | | | |   a.  to gather relevant information about the functional strat | | egies of companies | | --- ----- --------------------------------------------------------- | | -------------------- | |   b.  to gather relevant insights about the fluctuation in stoc | | k prices | |   c.  to conduct research and share information | |   d.  to build partnerships with companies | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 39. What is developing a completely new product to take advantage of | | a unique foreign opportunity called? | | | |   a.  product development | | --- ----- --------------------------- | |   b.  product commercialization | |   c.  product invention | |   d.  product origination | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 40. What does the term "product positioning" refers to? | | | |   a.  a low cost market entry strategy in which two or more fir | | ms represent one another\'s complementary yet non-competing products | | in the markets | | --- ----- --------------------------------------------------------- | | --------------------------------------------------------------------- | | ---------------- | |   b.  the process of developing entirely new products for new m | | arkets | |   c.  consumers\' perceptions of a product\'s attributes, uses, | | quality, as well as advantages and disadvantages relative to competi | | ng brands | |   d.  the process of developing a trade dress for a new product | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 41. What is the strategy that seeks to increase sales of existing | | products in existing markets called? | | | |   a.  product development | | --- ----- ------------------------- | |   b.  market innovation | |   c.  product diversification | |   d.  market penetration | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 42. Which statement best describes B2C digital marketing? | | | |   a.  B2C digital marketing involves online sale of services as | | much as physical goods. | | --- ----- --------------------------------------------------------- | | --------------------------------------------------------------------- | | - | |   b.  B2C transactions account for most of the digital marketin | | g activity. | |   c.  B2C digital marketing facilitates transactions between or | | ganizations. | |   d.  Service providers prefer the B2B model to B2C as there is | | not enough scope for service transactions in B2C digital marketing. | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 43. In order for a marketer to operate efficiently in a foreign | | country, what must be in place and stable to facilitate trade? | | | |   a.  free trade agreement | | --- ----- ---------------------- | |   b.  infrastructure | |   c.  tariffs | |   d.  labour force | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 44. Overall, what is happening to the population of Canada? | | | |   a.  It's becoming younger, better educated, and more homogene | | ous. | | --- ----- --------------------------------------------------------- | | ------ | |   b.  It's becoming older, poorer, and less educated. | |   c.  It's becoming older, more diverse, and more affluent. | |   d.  It's becoming younger, better educated, and less affluent | |. | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 45. From the retailer point of view, which statement best describes a | | store's exterior appearance, including architectural design, window | | displays, signs, and entryways? | | | |   a.  It is a major cost factor in the pricing of the goods sol | | d by a store. | | --- ----- --------------------------------------------------------- | | ------------------------------- | |   b.  It helps to identify the retailer and attract its target | | market. | |   c.  It generally has little effect on the retailer's image. | |   d.  It should be different from one store of the same chain t | | o another to provide variety. | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 46. What can lead to a damaging downward spiral, causing a freefall | | in business profits, lower returns on most investments, and | | widespread job layoffs? | | | |   a.  deflation | | --- ----- ---------------------------------- | |   b.  lower interest rates | |   c.  inflation | |   d.  major federal government surplus | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 47. What is a brand name that has been given legal protection known | | as? | | | |   a.  patent | | --- ----- ----------- | |   b.  copyright | |   c.  trademark | |   d.  royalty | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 48. What term refers to the numerical bar code system used to record | | product and price information? | | | |   a.  uniform serial number | | --- ----- -------------------------- | |   b.  unitized product locator | |   c.  unique label identifier | |   d.  universal product code | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 49. Which piece of information would *NOT* be relevant to the precall | | planning process when selling to an organization? | | | |   a.  financial health of the organization | | --- ----- -------------------------------------------- | |   b.  identities of the buyers and their jobs | |   c.  previous employment history of the buyers | |   d.  knowledge base of the members of the staff | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 50. What is the purpose of a merchandise mart? | | | |   a.  to provide space for permanent showrooms and exhibits, wh | | ich manufacturers rent to market their goods | | --- ----- --------------------------------------------------------- | | --------------------------------------------------------------------- | | ---------------- | |   b.  to gather buyers and sellers in one location and allow po | | tential buyers to inspect merchandise before submitting competitive p | | urchase offers | |   c.  to accept orders from customers and forward those orders | | to manufacturers that ship the goods directly to the customers | |   d.  to distribute physical or online catalogues to retail, bu | | siness, and institutional customers | +-----------------------------------------------------------------------+