An intern from the United Kingdom was working in an American software company during summers. One day her boss gave her a memo asking her to post it, with the intention of having it put on the bulletin board. To her boss's surprise the letter was mailed by the intern since the word "post" means "mail" in British English. In communication terms this error can be attributed due to:

An intern from the United Kingdom was working in an American software company during summers. One day her boss gave her a memo asking her to post it, with the intention of having it put on the bulletin board. To her boss's surprise the letter was mailed by the intern since the word "post" means "mail" in British English. In communication terms this error can be attributed due to:

A) syntax.
B) phonology.
C) morphology.
D) semantics.
E) semiotics.


Answer: D) semantics.

As cultural differences become less relevant and disposable incomes become high, a trend towards greater consumption of the following type of foods is predicted.

As cultural differences become less relevant and disposable incomes become high, a trend towards greater consumption of the following type of foods is predicted.

A) French artistic foods
B) American fast foods
C) Chinese retail foods
D) Indian spicy foods
E) Mexican spicy foods


Answer: B) American fast foods

Cultural influences are also quite apparent in food preparation and consumption patterns and habits. Domino's Pizza, the world's largest pizza-delivery company, pulled out of Italy because:

Cultural influences are also quite apparent in food preparation and consumption patterns and habits. Domino's Pizza, the world's largest pizza-delivery company, pulled out of Italy because:

A) tomato sauce was too bold and competed with Italian products.
B) people did not like to eat at home.
C) Italians perceived its products to be "too American."
D) Italians wanted more toppings on thick crust.
E) Italians did not like anyone else to use the name pizza.


Answer: C) Italians perceived its products to be "too American."

The use of this color dates back millennia as seen by artisans in ancient Egypt, China, and Mayan civilizations all worked with the color, which is now associated with royalty and divinity.

The use of this color dates back millennia as seen by artisans in ancient Egypt, China, and Mayan civilizations all worked with the color, which is now associated with royalty and divinity.

A) Red
B) Green
C) Blue
D) Orange
E) Brown


Answer: C) Blue

There is nothing inherently "good" or "bad" about any color of the spectrum and all associations and perceptions regarding color arise from culture. Which of the following statements is not true?

There is nothing inherently "good" or "bad" about any color of the spectrum and all associations and perceptions regarding color arise from culture. Which of the following statements is not true?

A) Red is a popular color in most parts of the world.
B) Red color is associated with "active," "vibrant," and "emotional."
C) Red color is preferred in many countries since it is the color of blood.
D) Red color is highly preferred in some African countries.
E) Red color is tied to the traditions of viticulture and winemaking.


Answer: D) Red color is highly preferred in some African countries.

Whirlpool conducts usability studies that provide insight into the ways consumers interact with its products. In one study in an emerging market, engineers and designers stood behind a two-way mirror and watched as a volunteer put groceries away in a Kenmore Elite refrigerator. The Whirlpool team recorded a variety of data, such as the amount of time required for the volunteer to finish the task and the number of features used. The basis of this research study was based on the fact that:

Whirlpool conducts usability studies that provide insight into the ways consumers interact with its products. In one study in an emerging market, engineers and designers stood behind a two-way mirror and watched as a volunteer put groceries away in a Kenmore Elite refrigerator. The Whirlpool team recorded a variety of data, such as the amount of time required for the volunteer to finish the task and the number of features used. The basis of this research study was based on the fact that:

A) listening to customers is only possible in America.
B) data collected in the United States should be applicable in other countries.
C) consumers in different countries prefer different types of features.
D) in China, it will be difficult to find enough space in homes to put a refrigerator.
E) in India, refrigerators are seldom used by customers.


Answer: C) consumers in different countries prefer different types of features.

A market research study of soft drink consumption and distribution in Hungary commissioned by an American company indicated that soft drinks were available in drugstores. However, Western-style drugstores do not exist in Hungary. This illustrates an important issue in global marketing research, namely:

A market research study of soft drink consumption and distribution in Hungary commissioned by an American company indicated that soft drinks were available in drugstores. However, Western-style drugstores do not exist in Hungary. This illustrates an important issue in global marketing research, namely:

A) inflated data.
B) using convenience samples.
C) market estimation by analogy.
D) comparability of data.
E) using multiple dimensional scaling.


Answer: D) comparability of data.

Which of the following is true about etic and emic approaches to country analysis?

Which of the following is true about etic and emic approaches to country analysis?

A) The etic and emic approaches are identical.
B) An emic approach studies a culture from within; etic analysis is "from the outside."
C) An emic approach studies a culture "from the outside"; etic analysis studies a culture from within.
D) The emic/etic distinction is not useful in cultural studies.
E) The emic/etic approaches cannot be applied to Asian countries.


Answer: B) An emic approach studies a culture from within; etic analysis is "from the outside."

According to David Arnold, there are four possible approaches to forecasting by analogy, which does not include which of the following?

According to David Arnold, there are four possible approaches to forecasting by analogy, which does not include which of the following?

A) Data is available on a comparable product in the same country.
B) Data is available on the same product in a comparable country.
C) Data is available on the same product from a dependent distributor in a neighboring country.
D) Data is available about a comparable company in the same country.
E) Data is available on the same product in every country.


Answer: E) Data is available on the same product in every country.

In India, only about 10% of men who shave use Gillette razors. Worldwide, 50% of male shavers use Gillette products. To achieve greater penetration in India, Gillette rolled out a no-frills brand that costs 15 rupees—about 34 cents. The Gillette Guard has a lighter handle that is cheaper to produce. It also lacks the lubrication strip found in Gillette's more expensive razors, and replacement blades cost only 5 rupees (11 cents). This use of data and process are described as:

In India, only about 10% of men who shave use Gillette razors. Worldwide, 50% of male shavers use Gillette products. To achieve greater penetration in India, Gillette rolled out a no-frills brand that costs 15 rupees—about 34 cents. The Gillette Guard has a lighter handle that is cheaper to produce. It also lacks the lubrication strip found in Gillette's more expensive razors, and replacement blades cost only 5 rupees (11 cents). This use of data and process are described as:

A) demand pattern analysis.
B) income elastic analysis.
C) factor analysis.
D) market estimation by analogy.
E) multidimensional scaling.


Answer: D) market estimation by analogy.

A market researcher who uses multidimensional scaling (MDS) will:

A market researcher who uses multidimensional scaling (MDS) will:

A) attempt to estimate market size by analogy.
B) ask respondents to rate a particular product or brand in terms of multiple characteristics or attributes.
C) ask respondents to evaluate product or brand pairs in terms of similarity.
D) attempt to determine the combination of product features that create the greatest utility for consumers.
E) conduct a focus group.


Answer: C) ask respondents to evaluate product or brand pairs in terms of similarity.

Campbell is the world's largest soup company, commanding about 80% of the U.S. canned soup market. However, the company has a presence in only 6% of the world's soup markets. Russians eat 32 billion servings of soup each year, and the Chinese consume 300 billion! By contrast, Americans eat 15 billion servings each year. Sensing a huge opportunity, Campbell has dispatched teams to observe Russian and Chines habits. This type of interpretation and decision is based on:

Campbell is the world's largest soup company, commanding about 80% of the U.S. canned soup market. However, the company has a presence in only 6% of the world's soup markets. Russians eat 32 billion servings of soup each year, and the Chinese consume 300 billion! By contrast, Americans eat 15 billion servings each year. Sensing a huge opportunity, Campbell has dispatched teams to observe Russian and Chines habits. This type of interpretation and decision is based on:

A) demand pattern analysis.
B) income elastic analysis.
C) time series displacement.
D) polycentrism.
E) comparative analysis.


Answer: E) comparative analysis.

When consumers have difficulty in verbalizing their perceptions, and there are different alternative brands of toothpaste, what is the best method of judging them in terms of similarity?

When consumers have difficulty in verbalizing their perceptions, and there are different alternative brands of toothpaste, what is the best method of judging them in terms of similarity?

A) cluster analysis
B) MDS
C) dependence techniques
D) factor loading
E) focus group


Answer: B) MDS

One study of adult involvement in household tasks revealed greater similarities between the United Kingdom and the United States compared with France, Belgium, and French Canada. Thus, the United States and United Kingdom were "twins" based on common language. This study is an example of:

One study of adult involvement in household tasks revealed greater similarities between the United Kingdom and the United States compared with France, Belgium, and French Canada. Thus, the United States and United Kingdom were "twins" based on common language. This study is an example of:

A) market latency.
B) conjoint analysis.
C) factor analysis.
D) multidimensional scaling.
E) cluster analysis.


Answer: E) cluster analysis.

Suppose Apple has collected extensive survey data about its new iPhone, and respondents have rated it on twenty different features and benefits. Now researchers want to reduce the amount of data to a few underlying dimensions. Which data analysis technique should the researchers use?

Suppose Apple has collected extensive survey data about its new iPhone, and respondents have rated it on twenty different features and benefits. Now researchers want to reduce the amount of data to a few underlying dimensions. Which data analysis technique should the researchers use?

A) analogy
B) conjoint analysis
C) factor analysis
D) multidimensional scaling
E) cluster analysis


Answer: C) factor analysis

In Mexico City, only 55-60% of the population owns a telephone. The number drops to less than 50% in Guadalajara and Monterey, and 35% or lower in other cities. This will complicate the task of market researchers hoping to use a telephone survey to obtain a ________ of the Mexican population.

In Mexico City, only 55-60% of the population owns a telephone. The number drops to less than 50% in Guadalajara and Monterey, and 35% or lower in other cities. This will complicate the task of market researchers hoping to use a telephone survey to obtain a ________ of the Mexican population.

A) probability sample
B) convenience sample
C) secondary sample
D) focus group sample
E) quota sample


Answer: A) probability sample

In Singapore, Coca-Cola wanted to develop an advertisement program. They selected a group of teenagers in a room, and a trained moderator facilitated discussion asking questions on brand's image, advertisement, social trends, TV watching habits, and snack usage. This type of research is called:

In Singapore, Coca-Cola wanted to develop an advertisement program. They selected a group of teenagers in a room, and a trained moderator facilitated discussion asking questions on brand's image, advertisement, social trends, TV watching habits, and snack usage. This type of research is called:

A) survey research.
B) observational studies.
C) comparison studies.
D) focus group research.
E) experimental research.


Answer: D) focus group research.

Manufacturers of Splenda, a low-calorie sugar, wanted to arrange a focus group to find out its use in different markets. Open-ended questions were used in order to secure the unconscious attitudes and biases held by the subjects. This type of technique is known as:

Manufacturers of Splenda, a low-calorie sugar, wanted to arrange a focus group to find out its use in different markets. Open-ended questions were used in order to secure the unconscious attitudes and biases held by the subjects. This type of technique is known as:

A) scaling technique.
B) qualitative technique.
C) projective technique.
D) reactivity technique.
E) MDS technique.


Answer: C) projective technique.

When the Coca-Cola Company convened focus groups in Europe and Asia to assess potential market acceptance of a contoured aluminum soft drink can, it was attempting to collect ________ data.

When the Coca-Cola Company convened focus groups in Europe and Asia to assess potential market acceptance of a contoured aluminum soft drink can, it was attempting to collect ________ data.

A) primary
B) secondary
C) incipient
D) quantitative
E) MIS


Answer: A) primary

A marketer of breakfast cereals might send researchers to preselected households at 6 A.M. to watch families go about their morning routines. The client could also assign a researcher to accompany family members to the grocery store to record their behavior under actual shopping conditions. This type of research method is considered as:

A marketer of breakfast cereals might send researchers to preselected households at 6 A.M. to watch families go about their morning routines. The client could also assign a researcher to accompany family members to the grocery store to record their behavior under actual shopping conditions. This type of research method is considered as:

A) focus group.
B) invasion of privacy.
C) consumer panel study.
D) factor analysis.
E) observation.


Answer: E) observation.

Emerging markets present a number of challenges to anyone conducting market research, which includes all of the following except:

Emerging markets present a number of challenges to anyone conducting market research, which includes all of the following except:

A) underdeveloped technology infrastructure.
B) geographic issues.
C) data-gathering methodologies.
D) privacy issues.
E) lack of field teams.


Answer: E) lack of field teams.

When a trained person is recording the items selected in a grocery cart or basket, the research method is known as:

When a trained person is recording the items selected in a grocery cart or basket, the research method is known as:

A) observation.
B) survey research.
C) focus study.
D) secondary data collection.
E) personal interviews.


Answer: A) observation.

Tools that can be used for collecting primary data include:

Tools that can be used for collecting primary data include:

A) survey research and interviews.
B) consumer panels and observation.
C) focus groups and survey research.
D) interviews and observation.
E) all of the above


Answer: E) all of the above

When a survey questionnaire in English is translated into Korean for use in South Korea and then translated back into English to check its accuracy, it is described as:

When a survey questionnaire in English is translated into Korean for use in South Korea and then translated back into English to check its accuracy, it is described as:

A) incipient translation.
B) comparative translation.
C) native translation.
D) parallel translation.
E) back translation.


Answer: E) back translation.

Predicting economic and income growth rates is particularly important when researching which type of market?

Predicting economic and income growth rates is particularly important when researching which type of market?

A) existing markets
B) latent markets
C) parallel markets
D) incipient markets
E) local markets


Answer: D) incipient markets

The international marketing manager of an office furniture company ordered a research report on global telecommunications equipment sales. The report noted that, in the early 1990s, AT&T was awarded a $4 billion contract to provide communication network products and services in Saudi Arabia. The manager took this as a cue to put Saudi Arabia on her information agenda, reasoning that office furniture sales would increase as the country's telephone system was improved. As described here, the marketing manager is viewing Saudi Arabia as a(n):

The international marketing manager of an office furniture company ordered a research report on global telecommunications equipment sales. The report noted that, in the early 1990s, AT&T was awarded a $4 billion contract to provide communication network products and services in Saudi Arabia. The manager took this as a cue to put Saudi Arabia on her information agenda, reasoning that office furniture sales would increase as the country's telephone system was improved. As described here, the marketing manager is viewing Saudi Arabia as a(n):

A) latent market.
B) incipient market.
C) cluster market.
D) existing market.
E) primary market.


Answer: B) incipient market.

The decision by Toyota executives to introduce the Sienna minivan in the U.S. market was based on their study of a(n) ________ market.

The decision by Toyota executives to introduce the Sienna minivan in the U.S. market was based on their study of a(n) ________ market.

A) existing
B) latent
C) parallel
D) incipient
E) global


Answer: A) existing

For consumer products, qualitative research is especially well suited to accomplish all of the following tasks except:

For consumer products, qualitative research is especially well suited to accomplish all of the following tasks except:

A) provide consumer understanding.
B) describe the social and cultural context of consumer behavior.
C) identify core brand equity and brands.
D) assess consumer spending trends.
E) what consumers really feel.


Answer: D) assess consumer spending trends.

Which of the following is not recommended by expert David Arnold for companies engaged in global market research?

Which of the following is not recommended by expert David Arnold for companies engaged in global market research?

A) use multiple indicators
B) develop customized measures specific to an industry or product
C) conduct comparative assessments in neighboring countries
D) observation should be weighted more heavily than statements of purchase intention
E) assess a particular market in isolation


Answer: E) assess a particular market in isolation

Which of the following correctly reflects marketing expert David Arnold's recommendations for companies engaged in global market research?

Which of the following correctly reflects marketing expert David Arnold's recommendations for companies engaged in global market research?

A) use multiple indicators
B) develop customized measures specific to an industry or product
C) conduct comparative assessments in neighboring countries
D) observation should be weighted more heavily than statements of purchase intention
E) all of the above


Answer: E) all of the above

Harley-Davidson celebrates its 110th anniversary in 2013. The company has grown impressively during its century of operations. All of the following mentioned facts regarding the company are true except:

Harley-Davidson celebrates its 110th anniversary in 2013. The company has grown impressively during its century of operations. All of the following mentioned facts regarding the company are true except:

A) the company's international success came after years of neglecting overseas markets.
B) the company reacted swiftly to a growing threat from Japanese manufacturers.
C) early on, the company used an export-selling approach.
D) early on, it had an underdeveloped dealer network.
E) after the 1980s, they recruited dealers in the important Japanese markets.


Answer: B) the company reacted swiftly to a growing threat from Japanese manufacturers.

Which of the following is not true of secondary data about global markets?

Which of the following is not true of secondary data about global markets?

A) It was not gathered specifically for the research project at hand.
B) It is often so expensive that small companies can't afford to use it.
C) It can be accessed quickly.
D) A great deal is available from government agencies.
E) It cannot be retrieved online.


Answer: B) It is often so expensive that small companies can't afford to use it.

Marketers must be aware of the impact of SRC and other cultural assumptions since:

Marketers must be aware of the impact of SRC and other cultural assumptions since:

A) it can have several positive effects on market planning.
B) it enhances management's willingness to pursue market research.
C) it can help ensure that the research effort is designed with minimal home-country bias.
D) it can help ensure that the research effort is designed with minimal second-country bias.
E) All of the above are correct.


Answer: E) All of the above are correct.

Potential markets can be subdivided into:

Potential markets can be subdivided into:

A) latent and parallel markets.
B) existing and incipient markets.
C) latent and incipient markets.
D) existing and latent markets.
E) incipient and existing markets.


Answer: C) latent and incipient markets.

According to the Global Market Research Reports, data for Chinese markets are available for:

According to the Global Market Research Reports, data for Chinese markets are available for:

A) cosmetics.
B) online music.
C) whiskies.
D) luxury goods.
E) pharmaceutical.


Answer: A) cosmetics.

The U.S. government's most comprehensive source of world trade data is:

The U.S. government's most comprehensive source of world trade data is:

A) National Trade Data Base (NTDB).
B) Census Bureau.
C) Bureau of Economic Analysis.
D) Eurostat.
E) Gross Domestic Product (GDP).


Answer: A) National Trade Data Base (NTDB).

The unit of analysis can be a single country or region; however, for all market-entry decisions ________ data are not required.

The unit of analysis can be a single country or region; however, for all market-entry decisions ________ data are not required.

A) specific city
B) statewide
C) provincial
D) district wise
E) country wide


Answer: E) country wide

For consumer products, qualitative research is especially well suited to:

For consumer products, qualitative research is especially well suited to:

A) get close to the consumer.
B) describe the cultural context of consumer behavior.
C) identify core brand equity.
D) identify what people really feel.
E) all of the above


Answer: E) all of the above

Anyone undertaking a market research project should understand that the first step is:

Anyone undertaking a market research project should understand that the first step is:

A) setting the budget.
B) determining the methodology to use.
C) deciding who will see the final report.
D) defining the problem.
E) determining the information requirement.


Answer: E) determining the information requirement.

Which of the following lists some of the steps in the market research process in the correct order?

Which of the following lists some of the steps in the market research process in the correct order?

A) determine information requirement→problem definition→choose unit of analysis→examine data availability→assess value of research
B) problem definition→assess value of research→determine information requirement→choose unit of analysis→examine data availability
C) examine data availability→problem definition→choose unit of analysis→assess value of research→determine information requirement
D) choose unit of analysis→assess value of research→problem definition→determine information requirement→examine data availability
E) examine data availability→assess the value of research→problem definition→presentation


Answer: A) determine information requirement→problem definition→choose unit of analysis→examine data availability→assess value of research

When Mattel first introduced Barbie in Japan, managers assumed that Japanese girls would find the doll's design just as appealing as American girls did. This may be due to:

When Mattel first introduced Barbie in Japan, managers assumed that Japanese girls would find the doll's design just as appealing as American girls did. This may be due to:

A) Barbie's physical features such as long legs and blonde hair.
B) Barbie being a symbol of American lifestyle.
C) the SRC tendency on the part of American managers.
D) the SRC tendency on the part of Japanese consumers.
E) the limited competition for dolls in Japan.


Answer: C) the SRC tendency on the part of American managers.

The first step in formulating and conducting research is:

The first step in formulating and conducting research is:

A) to define the problem.
B) information requirement.
C) choosing unit of analysis.
D) examine data availability.
E) research design.


Answer: B) information requirement.

A vice-president of a shoe company was in India to assess the market. He found that many people in the southern part of India were walking bare footed. This can be indicative of either the fact that there is a potential market for shoes or there is no market for shoes in that part of the world. To formally confirm one instinct or the other the vice-president should:

A vice-president of a shoe company was in India to assess the market. He found that many people in the southern part of India were walking bare footed. This can be indicative of either the fact that there is a potential market for shoes or there is no market for shoes in that part of the world. To formally confirm one instinct or the other the vice-president should:

A) establish an office to start manufacturing shoes in India.
B) give free shoe samples to a selected group of customers.
C) conduct research to find the potential and actual customers.
D) find out if that is true for other Asian countries.
E) give up the idea of doing business in India.


Answer: C) conduct research to find the potential and actual customers.

Which of the following environmental factors may require marketers to adjust their approach to conducting international as opposed to domestic marketing research?

Which of the following environmental factors may require marketers to adjust their approach to conducting international as opposed to domestic marketing research?

A) Researchers must be prepared for new parameters of doing business.
B) Company personnel must come to grips with a new set of culture-based assumptions about conducting business.
C) Research may help reduce psychological overload.
D) Researchers may have to broaden the definition of competitors to include competitive pressures not present in the domestic market.
E) all of the above


Answer: E) all of the above

Although environmental scanning is a vital source of information, research has shown that headquarters executives of global companies obtain as much as two-thirds of the information they need from:

Although environmental scanning is a vital source of information, research has shown that headquarters executives of global companies obtain as much as two-thirds of the information they need from:

A) government publications.
B) professional publications.
C) trade publications.
D) census data.
E) personal sources.


Answer: E) personal sources.

CRM tools allow companies such as Credit Suisse, AT&T, Hewlett-Packard and others to determine:

CRM tools allow companies such as Credit Suisse, AT&T, Hewlett-Packard and others to determine:

A) warranty of products sold to consumers.
B) amount paid by consumers in different countries.
C) which customers are most valuable.
D) the use of credit cards for payment.
E) the use of laptop computers by customers.


Answer: C) which customers are most valuable.

Direct sensory perception provides a vital background for the information that comes from human and documentary sources since:

Direct sensory perception provides a vital background for the information that comes from human and documentary sources since:

A) it provides secondhand information.
B) it is easy and the most economical way of collecting data.
C) it means firsthand seeing, feeling, hearing, smelling, and tasting.
D) it involves reading and reviewing documents.
E) top executives are involved in getting firsthand information.


Answer: C) it means firsthand seeing, feeling, hearing, smelling, and tasting.

One challenge of using CRM is:

One challenge of using CRM is:

A) integrating data into customer relationship.
B) knowing amount paid by consumers in different countries.
C) understanding which customers are most valuable.
D) assessing the use of credit cards for payment.
E) knowing the use of laptop computers by customers.


Answer: A) integrating data into customer relationship.

CRM tools allow companies such as Credit Suisse, AT&T, Hewlett-Packard and others to determine:

CRM tools allow companies such as Credit Suisse, AT&T, Hewlett-Packard and others to determine:

A) warranty of products sold to consumers.
B) amount paid by consumers in different countries.
C) which customers are most valuable.
D) the use of credit cards for payment.
E) the use of laptop computers by customers.


Answer: C) which customers are most valuable.

Which of the following can be defined as a business philosophy that values two-way communication between a company and individual customers?

Which of the following can be defined as a business philosophy that values two-way communication between a company and individual customers?

A) ECR
B) CRM
C) EDI
D) EPOS
E) BOLD


Answer: B) CRM

Which of the following is an IT tool designed specifically to help retailers work more closely with vendors on stock replenishment?

Which of the following is an IT tool designed specifically to help retailers work more closely with vendors on stock replenishment?

A) BOLD
B) ECR
C) data warehouse
D) projection
E) EDI


Answer: B) ECR

An ________ is a company's private data network, accessible only by authorized persons inside the organization.

An ________ is a company's private data network, accessible only by authorized persons inside the organization.

A) EDI
B) Internet
C) intranet
D) EPOS
E) ECR


Answer: C) intranet

An ________ system allows a company's business units to submit orders, issue invoices, and conduct business electronically with other company units as well as outside companies.

An ________ system allows a company's business units to submit orders, issue invoices, and conduct business electronically with other company units as well as outside companies.

A) Internet
B) intranet
C) ECR
D) EDI
E) EPOS


Answer: D) EDI

One of the key advantages of an EDI (Electronic Data Interchange) system is:

One of the key advantages of an EDI (Electronic Data Interchange) system is:

A) it allows easy access to all company data to vendors.
B) its transaction formats are universal.
C) it allows third-party transmission connections to company data.
D) it saves both time and money by using different languages.
E) vendors receive orders by voice mail.


Answer: B) its transaction formats are universal.

Japan is Coach's second largest market, representing about 20% of global sales. All of the following statements are true regarding the market for Coach's products compared to that in America except:

Japan is Coach's second largest market, representing about 20% of global sales. All of the following statements are true regarding the market for Coach's products compared to that in America except:

A) Japanese consumers are enormously brand-centric.
B) Japanese consumers are not as brand loyal as American consumers.
C) American women tend to carry two or three brands while their Japanese counterparts tend to carry as many as five.
D) The company's $500 handbags are especially popular with young women.
E) Coach has to work on improving its brand image in Japan.


Answer: E) Coach has to work on improving its brand image in Japan.

The reason why Greece, Ireland, Portugal, and Spain sometimes are referred to as the eurozone's "peripheral countries" is:

The reason why Greece, Ireland, Portugal, and Spain sometimes are referred to as the eurozone's "peripheral countries" is:

A) that all have tourist attractions.
B) that they are situated in the peripheral parts of Europe.
C) that they all rank lower than their EU neighbors in terms of infrastructure.
D) that they are riding on the way of technology boom.
E) that they are all marred by sex scandals.


Answer: C) that they all rank lower than their EU neighbors in terms of infrastructure.

Other than tariffs, there are certain problems that restrict free trade between the European Union and the United States which includes all of the following except:

Other than tariffs, there are certain problems that restrict free trade between the European Union and the United States which includes all of the following except:

A) use of genetically modified agricultural products.
B) product labeling.
C) Hollywood movie domination.
D) Internet usage.
E) cultural diversity.


Answer: D) Internet usage.

African companies will find it easier to gain access to financing from the U.S. Export-Import Bank due to:

African companies will find it easier to gain access to financing from the U.S. Export-Import Bank due to:

A) AGOA.
B) GATT.
C) SADC.
D) TDCA.
E) SACU.


Answer: A) AGOA.

In order to form a free trade area, South Africa has signed a Trade, Development, and Cooperation Agreement (TDCA) with:

In order to form a free trade area, South Africa has signed a Trade, Development, and Cooperation Agreement (TDCA) with:

A) Swaziland.
B) EU.
C) Namibia.
D) Angola.
E) Japan.


Answer: B) EU.

In recent years, the economy of selected countries in ECOWAS has improved except in:

In recent years, the economy of selected countries in ECOWAS has improved except in:

A) Ivory Coast.
B) Ghana.
C) Benin.
D) Sierra Leone.
E) Nigeria.


Answer: D) Sierra Leone.

The Middle East and North Africa are sometimes viewed as a regional entity referred to as:

The Middle East and North Africa are sometimes viewed as a regional entity referred to as:

A) GCC.
B) AMU.
C) MENA.
D) ACC.
E) ECOWAS.


Answer: C) MENA.

In spite of having about 45% of the world's known oil reserves, Saudi Arabia and other Middle Eastern countries post current-account deficits, largely because:

In spite of having about 45% of the world's known oil reserves, Saudi Arabia and other Middle Eastern countries post current-account deficits, largely because:

A) of poor accounting practices.
B) of vast economic diversification.
C) they must import most of the goods and services.
D) most of the oil is exported.
E) new businesses are being developed.


Answer: C) they must import most of the goods and services.

A key word(s) in conducting business in the Middle East is:

A key word(s) in conducting business in the Middle East is:

A) Arab Spring.
B) Connection.
C) Discrimination.
D) Male dominance.
E) haggling.


Answer: B) Connection.

The Gulf Cooperation Council (GCC) includes all of the following countries except:

The Gulf Cooperation Council (GCC) includes all of the following countries except:

A) Kuwait.
B) Saudi Arabia.
C) Iraq.
D) Bahrain.
E) Oman.

Answer: C) Iraq.

Political and social instability in the Middle Eastern region can primarily be attributed to:

Political and social instability in the Middle Eastern region can primarily be attributed to:

A) desert conditions and lack of agricultural land.
B) cultural differences among nations.
C) a wide gap between rich and poor nations due to oil revenues.
D) lack of water purification facilities.
E) the "Arab Spring."


Answer: C) a wide gap between rich and poor nations due to oil revenues.

With the global economic crisis as a backdrop, the first-ever Happiness Congress was held in:

With the global economic crisis as a backdrop, the first-ever Happiness Congress was held in:

A) Sweden.
B) Austria.
C) Spain.
D) Italy.
E) Greece.


Answer: C) Spain.

The markets of Central and Eastern Europe present interesting opportunities and offer attractive locations for low-cost manufacturing due to:

The markets of Central and Eastern Europe present interesting opportunities and offer attractive locations for low-cost manufacturing due to:

A) their location being close to the sea.
B) the cultural similarities.
C) wage rates being lower than in Spain, Portugal and Greece.
D) strict laws and regulations.
E) prohibitive tariffs and export restrictions.


Answer: C) wage rates being lower than in Spain, Portugal and Greece.

The enlargement of the EU has impacted marketing strategies in the Eurozone countries by:

The enlargement of the EU has impacted marketing strategies in the Eurozone countries by:

A) making it difficult to export food products from one country to another.
B) increasing the cost of production since the euro replaced local currency.
C) shifting products from one market to another in the event of shortages.
D) reduced tariffs and quotas for products imported from non-EU members.
E) having less flexibility in the placement of factories.


Answer: C) shifting products from one market to another in the event of shortages.

Because they are in transition, the markets of Central and Eastern Europe present interesting opportunities and challenges which include:

Because they are in transition, the markets of Central and Eastern Europe present interesting opportunities and challenges which include:

A) new source of growth.
B) first mover advantage.
C) exporting as an entry mode.
D) lower wage rate.
E) all of the above


Answer: E) all of the above

Management strategic options pertaining to products that are facilitated by a single European market include:

Management strategic options pertaining to products that are facilitated by a single European market include:

A) standardized packaging and labeling.
B) consolidated production.
C) shift from brand to benefit segmentation.
D) seeking marketing economies.
E) all of the above


Answer: E) all of the above

Markets of Central and Eastern Europe present interesting opportunities and challenges. Companies such as 3M International, McDonald's, Philips Electronics, and Henkel are moving into the region for all of the following reasons except:

Markets of Central and Eastern Europe present interesting opportunities and challenges. Companies such as 3M International, McDonald's, Philips Electronics, and Henkel are moving into the region for all of the following reasons except:

A) the region is an important new source of growth.
B) that the first company to penetrate a country market often emerges as leader.
C) wage rates are much lower than those in Spain, Portugal, and Greece.
D) the region offers attractive locations for low-cost manufacturing.
E) core products and Western brand names need changes to meet consumer demands.


Answer: E) core products and Western brand names need changes to meet consumer demands.

The new country joining the EU at the beginning of 2014 is:

The new country joining the EU at the beginning of 2014 is:

A) Slovakia.
B) Estonia.
C) Latvia.
D) Slovenia.
E) Cyprus.


Answer: B) Estonia.

The non-EU member which uses the euro as its currency is:

The non-EU member which uses the euro as its currency is:

A) Estonia.
B) Kosovo.
C) Montenegro.
D) Vatican City.
E) San Marino.


Answer: D) Vatican City.

The introduction of the euro by EU resulted in multifaceted advantages which include:

The introduction of the euro by EU resulted in multifaceted advantages which include:

A) elimination of costs associated with currency conversion.
B) fixed exchange rate worldwide.
C) elimination of paper currency and coins.
D) withdrawal of French Francs from circulation.
E) a choice for using local or European currency.


Answer: A) elimination of costs associated with currency conversion.

The Maastricht Treaty called for:

The Maastricht Treaty called for:

A) the creation of an Asia Free Trade Area (AFTA).
B) the creation of an economic and monetary union in Europe.
C) Chile's acceptance into Mercosur.
D) the purchase of CDs and tapes from distributors in Europe.
E) the creation of the seven-nation European Free Trade Association (EFTA).


Answer: B) the creation of an economic and monetary union in Europe.

Which of the following ASEAN countries ranks number one in terms of two-way trade with the United States?

Which of the following ASEAN countries ranks number one in terms of two-way trade with the United States?

A) Brunei
B) Malaysia
C) Singapore
D) Thailand
E) Vietnam


Answer: C) Singapore

For the past 40 years Bhutan, a kingdom of 700,000 people in the Himalaya mountains, has relied on the following measure:

For the past 40 years Bhutan, a kingdom of 700,000 people in the Himalaya mountains, has relied on the following measure:

A) GNI.
B) GDP.
C) GNH.
D) GNP.
E) GTE.


Answer: C) GNH.

There are barriers in Japan for global marketers in terms of attitudes as well as laws. Barriers include all of the following except:

There are barriers in Japan for global marketers in terms of attitudes as well as laws. Barriers include all of the following except:

A) any organization wishing to compete in Japan must be committed to providing top-quality products and services.
B) repeat visits and extended socialization with distributors.
C) goods marketed should have a semblance of western products and services.
D) marketers must master the keiretsu system of tightly knit corporate alliances.
E) trust has to be built before conducting successful business.


Answer: C) goods marketed should have a semblance of western products and services.

Which one of the ASEAN members has the World's second-largest container port?

Which one of the ASEAN members has the World's second-largest container port?

A) Singapore
B) Thailand
C) India
D) Philippines
E) Brunei


Answer: A) Singapore

The original six members of the ASEAN (Association of Southeast Asian Nations) included all of the following countries except:

The original six members of the ASEAN (Association of Southeast Asian Nations) included all of the following countries except:

A) Singapore.
B) Thailand.
C) India.
D) Philippines.
E) Brunei.


Answer: C) India.

The English-speaking CARICOM members in the eastern Caribbean are concerned with defending their privileged trading position with:

The English-speaking CARICOM members in the eastern Caribbean are concerned with defending their privileged trading position with:

A) Russia.
B) China.
C) the United States.
D) the United Kingdom.
E) Australia.


Answer: C) the United States.

Argentina provides a good example of how a country can emerge from an economic crisis as a stronger global competitor as per the following statement:

Argentina provides a good example of how a country can emerge from an economic crisis as a stronger global competitor as per the following statement:

A) Argentina reduced the duties on consumer goods.
B) Argentina devalued its currency for exports and capital transactions.
C) Argentina added tariffs on imported wines.
D) Argentina adopted the U.S. dollar as official currency.
E) Argentina added tariffs on wine produced within the country.


Answer: B) Argentina devalued its currency for exports and capital transactions.

The "Common Market of the South" in Latin America is used to describe:

The "Common Market of the South" in Latin America is used to describe:

A) SICA.
B) Mercosur.
C) Andean Community.
D) CARICOM.
E) FTAA.


Answer: B) Mercosur.

About 70% of Ecuador's flower harvest is exported to:

About 70% of Ecuador's flower harvest is exported to:

A) Bolivia.
B) the United States.
C) Colombia.
D) Peru.
E) Venezuela.

Answer: B) the United States.

The country that withdrew from the original members of the Andean Community is:

The country that withdrew from the original members of the Andean Community is:

A) Bolivia.
B) Chile.
C) Ecuador.
D) Peru.
E) Venezuela.


Answer: B) Chile.

Considering the progress, attempts to achieve integration in Central America has been described as:

Considering the progress, attempts to achieve integration in Central America has been described as:

A) uncoordinated.
B) coordinated.
C) efficient.
D) costly.
E) productive.


Answer: A) uncoordinated.

The Secretariat for Central American Integration is headquartered in:

The Secretariat for Central American Integration is headquartered in:

A) El Salvador.
B) Honduras.
C) Guatemala City.
D) Nicaragua.
E) Costa Rica.


Answer: C) Guatemala City.

Implementation of the Central American Free Trade Agreement with the United States created a free trade area known as DR-CAFTA that includes all SICA members except:

Implementation of the Central American Free Trade Agreement with the United States created a free trade area known as DR-CAFTA that includes all SICA members except:

A) Honduras.
B) Guatemala.
C) Nicaragua.
D) Panama.
E) Costa Rica.


Answer: D) Panama.

Which member of the Central American Integration System has both the largest economy and the largest population?

Which member of the Central American Integration System has both the largest economy and the largest population?

A) El Salvador
B) Honduras
C) Guatemala
D) Nicaragua
E) Costa Rica


Answer: C) Guatemala

The five original members of the Central American Integration System did not include:

The five original members of the Central American Integration System did not include:

A) El Salvador.
B) Honduras.
C) Guatemala.
D) Nicaragua.
E) Venezuela.


Answer: E) Venezuela.

The most important preferential trading arrangements in Latin America do not include:

The most important preferential trading arrangements in Latin America do not include:

A) SICA.
B) the Andean Community.
C) CARICOM.
D) Mercosur.
E) BRIC.


Answer: E) BRIC.

The allure of the Latin American market has been its:

The allure of the Latin American market has been its:

A) lack of inflation.
B) considerable size.
C) rapid economic growth.
D) low foreign debts.
E) protectionism.


Answer: B) considerable size.

NAFTA creates a free trade area, as opposed to a customs union or a common market, due to the fact that:

NAFTA creates a free trade area, as opposed to a customs union or a common market, due to the fact that:

A) the agreement does not leave the door open for discretionary protectionism.
B) the governments of all three nations decided to eliminate tariffs.
C) the issue of illegal immigration from Mexico to the United States is resolved.
D) restrictions are imposed on the use of goods, services, and investments.
E) restrictions are imposed on labor movements among members.


Answer: B) the governments of all three nations decided to eliminate tariffs.

NAFTA creates a free trade area in North America. However, Mexican avocado growers:

NAFTA creates a free trade area in North America. However, Mexican avocado growers:

A) cannot hire illegal immigrants.
B) can only ship avocados to the United States in winter months.
C) have no quotas for the quantity of avocados shipped to the United States.
D) cannot impose tariffs of their own.
E) None of the above


Answer: B) can only ship avocados to the United States in winter months.

The form of economic cooperation that calls for countries to eliminate all internal barriers to trade among themselves even while maintaining independent trade policies vis-à-vis third countries is known as a(n):

The form of economic cooperation that calls for countries to eliminate all internal barriers to trade among themselves even while maintaining independent trade policies vis-à-vis third countries is known as a(n):

A) Economic union.
B) Customs union.
C) Free trade area.
D) Common market.
E) None of the above


Answer: C) Free trade area.

Custom unions or a common market does not create a free trade area as compared to NAFTA due to:

Custom unions or a common market does not create a free trade area as compared to NAFTA due to:

A) no common external tariffs.
B) decreased production costs.
C) reduced competition.
D) ease of exporting commodities.
E) creation of a continental demand.


Answer: A) no common external tariffs.

As a result of CFTA, the U.S. automakers participate in the Canadian auto market, thereby benefiting due to:

As a result of CFTA, the U.S. automakers participate in the Canadian auto market, thereby benefiting due to:

A) greater economies of scale.
B) decreased production costs.
C) reduced competition.
D) ease of exporting automobiles.
E) creating a continental demand.


Answer: A) greater economies of scale.

A true economic union requires:

A true economic union requires:

A) political unity.
B) social services.
C) welfare.
D) regional development.
E) taxation.


Answer: A) political unity.

Arrange the following in order from lowest to highest level of economic integration.

Arrange the following in order from lowest to highest level of economic integration.

A) customs union→economic union→free trade area→common market
B) economic union→customs union→common market→free trade area
C) common market→free trade area→economic union→customs union
D) free trade area→customs union→common market→economic union
E) common market→economic union→customs union→free trade area


Answer: D) free trade area→customs union→common market→economic union

____ builds upon the elimination of internal tariff barriers, the establishment of common external barriers, and the free flow of factors.

____ builds upon the elimination of internal tariff barriers, the establishment of common external barriers, and the free flow of factors.

A) European Union
B) Economic union
C) Customs union
D) Free trade area
E) Common market


Answer: C) Customs union

The form of economic cooperation that calls for 1) eliminating internal barriers to trade and 2) establishing common external barriers is known as a(n):

The form of economic cooperation that calls for 1) eliminating internal barriers to trade and 2) establishing common external barriers is known as a(n):

A) European Union.
B) Economic union.
C) Customs union.
D) Free trade area.
E) Common market.


Answer: C) Customs union.

Trade ministers representing the WTO member nations meet ________ to work on improving world trade.

Trade ministers representing the WTO member nations meet ________ to work on improving world trade.

A) weekly
B) monthly
C) annually
D) biannually
E) fortnightly


Answer: C) annually

Which form of regional cooperation agreement, when fully implemented, entails creation of a unified central bank, the use of a single currency, and common policies on agriculture, social services and welfare?

Which form of regional cooperation agreement, when fully implemented, entails creation of a unified central bank, the use of a single currency, and common policies on agriculture, social services and welfare?

A) Free trade area
B) Customs union
C) Common market
D) Economic union
E) Dispute settlement body


Answer: D) Economic union

The World Trade Organization, which came into existence on January 1, 1995, is the successor of another organization with the abbreviation:

The World Trade Organization, which came into existence on January 1, 1995, is the successor of another organization with the abbreviation:

A) DSB.
B) GATT.
C) FTAA.
D) NAFTA.
E) ASEAN.


Answer: B) GATT.

Before an agreement can be reached between the United States and European Union, major differences will have to be worked out. These differences include aspects related to all of the following except:

Before an agreement can be reached between the United States and European Union, major differences will have to be worked out. These differences include aspects related to all of the following except:

A) agriculture.
B) genetically modified crops.
C) tariff reduction.
D) cross-border investment.
E) job creation.


Answer: E) job creation.

How has the Great Recession of 2008-2009 affected​ consumers' attitudes?

How has the Great Recession of 2008-2009 affected​ consumers' attitudes?

A. ​Consumers' attitudes have not been affected by the recession.
B. Consumers are moving from mindful to mindless consumption.
C. Consumers are showing an enthusiasm for frugality.
D. Consumers are less willing to save their money.
E. Consumers are more willing to indulge in luxuries.


Answer: C

How has the Internet MOST affected companies and​ customers?

How has the Internet MOST affected companies and​ customers?

A. The Internet has increased the potential customer base.
B. The Internet has made advertising easier.
C. The Internet has made creating an image more important.
D. The Internet has lowered prices.
E. The Internet has allowed consumers to take marketing content and share it.


Answer: E

Vince's Video has suffered in the current economy because fewer people have the money for videos and because people utilize available​ technology, including online streaming sites like YouTube and Hulu. The videos​ Vince's Video does sell are often out priced by versions coming from China or​ Taiwan, or they are accused of damaging the environment. Which of the following marketing impacts has not likely affected​ Vince's Video?

Vince's Video has suffered in the current economy because fewer people have the money for videos and because people utilize available​ technology, including online streaming sites like YouTube and Hulu. The videos​ Vince's Video does sell are often out priced by versions coming from China or​ Taiwan, or they are accused of damaging the environment. Which of the following marketing impacts has not likely affected​ Vince's Video?

A. The changing economic environment
B. Rapid globalization
C. Not-for-profit marketing
D. The digital age
E. Sustainable marketability


Answer: C

You can practice sustainable marketing by adhering to general practices. Which of the following would allow a company to profit by serving immediate needs and​ long-term interests but not necessarily be a practice of sustainable​ marketing?

You can practice sustainable marketing by adhering to general practices. Which of the following would allow a company to profit by serving immediate needs and​ long-term interests but not necessarily be a practice of sustainable​ marketing?

A. Seek ways to profit by serving the​ long-run interests of customers and communities.
B. Deliver value in a socially and environmentally responsible way.
C. Help protect the natural environment.
D. Practice caring capitalism by being civic minded and responsible.
E. Delay responding to environmental legislation as it is instituted.


Answer: E

Which of the following describes the current trend in businesses regarding relationships with​ customers?

Which of the following describes the current trend in businesses regarding relationships with​ customers?

A. Maintain strong relationships with as many customers as possible.
B. Find a few customers and develop strong relationships with them.
C. Gather as many customers as possible on a surface level.
D. Avoid developing relationships with customers at all.
E. Build the right relationships with the right customers.


Answer: E

Craig's Craft Beer structures its company in such a way to encourage its most profitable older customers to remain loyal while also targeting a new generation of customers. What is​ Craig's Craft Beer attempting to​ build?

Craig's Craft Beer structures its company in such a way to encourage its most profitable older customers to remain loyal while also targeting a new generation of customers. What is​ Craig's Craft Beer attempting to​ build?

A. Customer lifetime value
B. Partner relationships
C. Share of customer
D. Customer loyalty
E. Customer equity


Answer: E

Scott Frost has been coming to​ Adeline's Diner for 20 years and refuses to go anywhere else.​ Ada, the owner of​ Adeline's, loves​ Scott's loyalty but admits he purchases only a cup of cappuccino each visit. Scott would BEST be described as which of the​ following?

Scott Frost has been coming to​ Adeline's Diner for 20 years and refuses to go anywhere else.​ Ada, the owner of​ Adeline's, loves​ Scott's loyalty but admits he purchases only a cup of cappuccino each visit. Scott would BEST be described as which of the​ following?

A. True believer
B. Butterfly
C. Barnacle
D. Stranger
E. True friend


Answer: C

What is MOST likely to cause a variation in​ customer-perceived value?

What is MOST likely to cause a variation in​ customer-perceived value?

A. The cost of advertising to the target market
B. The​ customer's opinion of what constitutes value
C. The cost to produce a product
D. The​ customer's satisfaction with a product
E. The popularity of a product to the customer


Answer: B

Advantage Airlines has instituted a loyalty rewards program that rewards customers with free​ Wi-Fi, seat​ upgrades, and free miles for their continued patronage. What relationship tool is Advantage Airlines​ using?

Advantage Airlines has instituted a loyalty rewards program that rewards customers with free​ Wi-Fi, seat​ upgrades, and free miles for their continued patronage. What relationship tool is Advantage Airlines​ using?

A. Club marketing program
B. Frequency marketing program
C. ​Consumer-generated marketing
D. Mass-media marketing
E. Customer-perceived value


Answer: B

​Bob's Bicycle Sales and Repair is a brand new company. From a marketing​ standpoint, what is the FIRST thing​ Bob's Bicycle Sales and Repair needs to​ do?

​Bob's Bicycle Sales and Repair is a brand new company. From a marketing​ standpoint, what is the FIRST thing​ Bob's Bicycle Sales and Repair needs to​ do?

A. Develop the best bicycle selection to sell.
B. Determine who in the community wants or needs a bicycle or repair service.
C. Develop relationships with the customers who come to purchase bicycles or repair services.
D. Develop a plan to sell as many bicycles as possible.
E. Advertise the company as a location in which to purchase bicycles or repair services.


Answer: B

What is the ultimate aim of customer relationship​ management?

What is the ultimate aim of customer relationship​ management?

A. Establish brand equity.
B. Produce high customer equity.
C. Maintain high customer loyalty.
D. Produce high customer profitability.
E. Increase share of customer.


Answer: B

Why is good marketing management​ critical?

Why is good marketing management​ critical?

A. To ensure that products are promoted well enough to encourage a large flow of customers
B. To ensure that investments are properly spent in order to maximize profits
C. To ensure that the company serves as many customers as it can and as well as it can
D. To ensure that the company is always on the cutting edge of product development
E. To ensure that the company has a positive image in the eyes of the community


Answer: C

Which of the following scenarios BEST describes the societal marketing​ concept?

Which of the following scenarios BEST describes the societal marketing​ concept?

A. ​Wendy's Wedding Wear frequently promotes itself to customers through​ commercials, fliers, and other forms of advertising.
B. Alice's Apple Cart regularly asks its customers what kind of apples they want to buy.
C. Richard's Rotors does everything possible to improve production and lower the cost of its rotors in order to gain customers.
D. Tom's Tires constantly tries to improve the tires it sells by placing all its efforts into new design research.
E. Ethel's Earthware attempts to make its pottery in a way that satisfies customers but is also environmentally friendly and sustainable over the long term.


Answer: E

Which marketing philosophy holds that consumers will not buy enough of the​ firm's products unless it undertakes a​ large-scale selling and promotion​ effort?

Which marketing philosophy holds that consumers will not buy enough of the​ firm's products unless it undertakes a​ large-scale selling and promotion​ effort?

A. Societal marketing concept
B. Product concept
C. Selling concept
D. Marketing concept
E. Production concept


Answer: C

Which of the following is NOT one of the four Ps of the marketing​ mix?

Which of the following is NOT one of the four Ps of the marketing​ mix?

A. Promotion
B. Product
C. Profit
D. Price
E. Place


Answer: C

When a company divides the market into groups of​ customers, it is engaging in which of the​ following?

When a company divides the market into groups of​ customers, it is engaging in which of the​ following?

A. Societal marketing
B. Demand management
C. Target marketing
D. Market segmentation
E. Differentiation


Answer: D

Selling and advertising are part of a larger set of marketing tools that work together to satisfy customer needs and build customer relationships known as​ _____________.

Selling and advertising are part of a larger set of marketing tools that work together to satisfy customer needs and build customer relationships known as​ _____________.

A. market offerings
B. the marketing mix
C. customer equity
D. the marketing concept
E. ​customer-engagement marketing


Answer: B

What is the main problem that sellers suffering from marketing myopia​ face?

What is the main problem that sellers suffering from marketing myopia​ face?

A. They focus more on brand image than the quality.
B. They focus on customer wants instead of demands.
C. They focus more on profit than the​ customer's benefit.
D. They focus more on products than the​ customer's underlying need.
E. They focus more on the​ customer's experience than the product itself.


Answer: D

How do market demands relate to needs and​ wants?

How do market demands relate to needs and​ wants?

A. Wants and demands are​ equivalent, and both satisfy needs at the same rate.
B. Needs, wants, and demands all describe the same state in the customer.
C. Demands result in customers needing and wanting a particular product.
D. Needs are satisfied by​ wants, and buying power converts wants into demand.
E. Needs and wants outweigh demands in the​ customer's mind.


Answer: D

A local theatre group wants to increase the membership and attendance at its performances. To do​ so, it hosts free​ shows, offers standup comedy​ nights, and sends volunteers to the local high school. In what is the theatre group​ engaging?

A local theatre group wants to increase the membership and attendance at its performances. To do​ so, it hosts free​ shows, offers standup comedy​ nights, and sends volunteers to the local high school. In what is the theatre group​ engaging?

A. Market exchange
B. Market research
C. Product placement
D. Societal marketing
E. Advertising


Answer: A

June and Beatrice have started a new​ company, Junbee​ Inc., and are having trouble deciding which marketing path to take to drive sales. June believes they should follow a​ make-and-sell philosophy that focuses on improving their​ product, whereas Beatrice believes they should be more​ customer-oriented and find the right products for their customers. Which of the following BEST describes this​ situation?

June and Beatrice have started a new​ company, Junbee​ Inc., and are having trouble deciding which marketing path to take to drive sales. June believes they should follow a​ make-and-sell philosophy that focuses on improving their​ product, whereas Beatrice believes they should be more​ customer-oriented and find the right products for their customers. Which of the following BEST describes this​ situation?

A. Should Junbee Inc. follow a product or selling​ concept?
B. Should Junbee Inc. follow a product or marketing​ concept?
C. Should Junbee Inc. follow a production or selling​ concept?
D. Should Junbee Inc. follow a societal marketing or production​ concept?
E. Should Junbee Inc. follow a marketing concept or a societal marketing​ concept?


Answer: B

The act of obtaining a desired object from someone by offering something in return is known as which of the​ following?

The act of obtaining a desired object from someone by offering something in return is known as which of the​ following?

A. A barter
B. A sale
C. An exchange
D. A trade
E. A swap


Answer: C

When is the selling concept typically used by​ marketers?

When is the selling concept typically used by​ marketers?

A. When the product is of high quality
B. When the company seeks the​ long-term welfare of society
C. When the company focuses on customer needs
D. For the purchase of unsought goods
E. For seasonal items


Answer: D

How does the new concept of marketing differ from the old concept of​ marketing?

How does the new concept of marketing differ from the old concept of​ marketing?

A. The new concept requires less work from marketing executives.
B. The new concept focuses on making money.
C. The new concept focuses on the needs of the customer.
D. The new concept is more cost efficient.
E. The new concept focuses on having a​ well-developed product.


Answer: C

The ultimate goal of the marketing process is to do which of the​ following?

The ultimate goal of the marketing process is to do which of the​ following?

A.Determine a target market.
B. Create a quality product.
C. Evaluate customer needs.
D. Develop relationships with customers.
E. Capture value from customers.


Answer: E

______ is the portion of the customer's purchasing that a company gets in its product categories.

______ is the portion of the customer's purchasing that a company gets in its product categories.

A. Customer-perceived value
B. Customer relationship management
C. Customer satisfaction
D. Share of customers


Answer: D

Customer relationship management is __________.

Customer relationship management is __________.

A. the extent to which a product's perceived performance matches a buyer's expectations

B. the customer's evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers

C. the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction

D. the portion of the customer's purchasing that a company gets in its product categories


Answer: C

_______ is the art and science of choosing target markets and building profitable relationships with them.

_______ is the art and science of choosing target markets and building profitable relationships with them.

A. Exchange
B. Marketing
C. Marketing management
D. Marketing myopia


Answer: C

_______ is the total combined values of all of the company's customers.

_______ is the total combined values of all of the company's customers.

A. Customer equity
B. Customer-perceived value
C. Share of customers
D. Customer lifetime value


Answer: A

The production concept is __________.

The production concept is __________.

A. the idea that consumers will favor products that are available and highly affordable; therefore, the organization should focus on improving production and distribution efficiency

B. the idea that consumers will favor products that offer the most quality, performance, and features; therefore, the organization should devote its energy to making continuous product improvements

C. the idea that consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promotion effort

D. a philosophy in which achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do


Answer: A

________ are some combination of products, services, information, or experiences offered to a market to satisfy a need or want.

________ are some combination of products, services, information, or experiences offered to a market to satisfy a need or want.

A. Demands
B. Marketing offerings
C. Wants
D. Needs


Answer: B

_________ is the act of obtaining a desired object from someone by offering something in return.

_________ is the act of obtaining a desired object from someone by offering something in return.

A. Marketing myopia
B. Marketing
C. Exchange
D. Marketing management


Answer: C

_______ is the customer's evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.

_______ is the customer's evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.

A. Share of customers
B. Customer-perceived value
C. Customer relationship management
D. Customer Satisfaction


Answer: B

______ is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

______ is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

A. Marketing myopia
B. Marketing management
C. Marketing
D. Exchange


Answer: C

The __________ is a philosophy in which achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.

The __________ is a philosophy in which achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.

A. product concept
B. selling concept
C. production concept
D. marketing concept


Answer: D

The __________ is the idea that a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests.

The __________ is the idea that a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests.

A. selling concept
B. societal marketing concept
C. product concept
D. marketing concept


Answer: B

The __________ is the idea that consumers will favor products that offer the most quality, performance, and features; therefore, the organization should devote its energy to making continuous product improvements.

The __________ is the idea that consumers will favor products that offer the most quality, performance, and features; therefore, the organization should devote its energy to making continuous product improvements.

A. marketing concept
B. selling concept
C. product concept
D. production concept


Answer: C

________ is the value of the entire stream of purchases a customer makes during a lifetime of patronage.

________ is the value of the entire stream of purchases a customer makes during a lifetime of patronage.

A. Customer-perceived value
B. Share of customers
C. Customer lifetime value
D. Customer equity


Answer: C

______ is the total combined values of all of the company's customers.

______ is the total combined values of all of the company's customers.

A. Share of customers
B. Customer-perceived value
C. Customer equity
D. Customer lifetime value


Answer: C

The marketing process captures value from customers by __________.

The marketing process captures value from customers by __________.

A. understanding the marketplace and customers' needs and wants
B. constructing an integrated marketing program that delivers superior value
C. building profitable relationships and creating customer delight
D. creating profits and customer equity


Answer: D

________ is the art and science of choosing target markets and building profitable relationships with them.

________ is the art and science of choosing target markets and building profitable relationships with them.

A. Exchange
B. Marketing management
C. Marketing myopia
D. Marketing


Answer: B

________ are the form human needs take as they are shaped by culture and individual personality.

________ are the form human needs take as they are shaped by culture and individual personality.

A. Needs
B. Marketing offerings
C. Wants
D. Demands


Answer: C

_______ is the extent to which a product's perceived performance matches a buyer's expectations.

_______ is the extent to which a product's perceived performance matches a buyer's expectations.

A. Customer relationship management
B. Share of customers
C. Customer-perceived value
D. Customer satisfaction


Answer: D

Needs are __________.

Needs are __________.

A. shaped by culture and individual personality
B. some combination of products, services, information, or experiences offered to a market to satisfy a need or want
C. human wants that are backed by buying power
D. states of felt deprivation


Answer: D

________ is the mistake of paying more attention to the specific product a company offers than to the benefits and experiences produced by these products.

________ is the mistake of paying more attention to the specific product a company offers than to the benefits and experiences produced by these products.

A. Marketing myopia
B. Exchange
C. Marketing management
D. Marketing


Answer: A

The __________ is the idea that consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promotion effort.

The __________ is the idea that consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promotion effort.

A. product concept
B. marketing concept
C. production concept
D. selling concept


Answer: D

______ are human wants that are backed by buying power.

______ are human wants that are backed by buying power.

A. Demands
B. Needs
C. Wants
D. Marketing offerings


Answer: A

Digital marketing tools used in digital and social media marketing include​ ________.

Digital marketing tools used in digital and social media marketing include​ ________.

A. e-mail, telemarketing, and blogs
B. social​ media, online​ video, and newspaper coupons
C. mobile​ apps, online​ video, and personal selling
D. social​ media, mobile​ apps, and blogs
E. social​ media, mobile​ apps, and television advertising


Answer: D

Which of the following statements regarding the changing marketing landscape is​ correct?

Which of the following statements regarding the changing marketing landscape is​ correct?

A. The Great Recession caused consumers to rethink their buying priorities.
B. Today's post-recession era consumers buy​ more, use fewer​ coupons, use their credit cards​ more, and save less.
C. Companies can safely ignore the environmental movement.
D. Global competition affects only large companies.
E. Digital technology has had little impact on the way we live.


Answer: A

A company rarely gets​ 100% of a​ customer's purchases for a product category. The share it does get of the​ customer's purchasing in its product categories is called​ ________.

A company rarely gets​ 100% of a​ customer's purchases for a product category. The share it does get of the​ customer's purchasing in its product categories is called​ ________.

A. share of market
B. customer lifetime value
C. share of customer
D. customer equity
E. customer defections


Answer: C

What are the two keys to building lasting customer​ relationships?

What are the two keys to building lasting customer​ relationships?

A. Innovative products and low prices
B. Value and satisfaction
C. Satisfaction and sales promotions
D. Value and customer service
E. Customer service and quality products


Answer: D

Which marketing management orientation holds that a firm should have a customer focus to achieve sales and​ profits?

Which marketing management orientation holds that a firm should have a customer focus to achieve sales and​ profits?

A. The product concept
B. The societal marketing concept
C. The selling concept
D. The marketing concept
E. The production concept


Answer: D

To design a winning marketing​ strategy, what are the two important questions a marketing manager must​ answer?

To design a winning marketing​ strategy, what are the two important questions a marketing manager must​ answer?

A. What customers will we​ serve? How can we maximize​ profits?
B. How can we serve our customers​ best? How can we maximize​ profits?
C. What markets should we​ enter? How do we maximize sales in those​ markets?
D. What customers will we​ serve? How can we serve these customers​ best?
E. Who are our​ competitors? How can we beat our​ competitors?


Answer: D

Which of the following represent market​ offerings?

Which of the following represent market​ offerings?

A. Needs, wants,​ products, and advertisements
B. Products, services,​ needs, and wants
C. Value, satisfaction,​ sales, and profits
D. Products, services,​ needs, and exchanges
E. Products, services,​ information, and experiences


Answer: E

Which of the following correctly identifies the five core customer and marketplace​ concepts?

Which of the following correctly identifies the five core customer and marketplace​ concepts?

A. ​Needs, wants, and​ demands; market​ offerings; value;​ satisfaction; and markets
B. ​Needs, wants, and​ demands; market​ offerings; value and​ satisfaction; competitors; and profits
C. Needs, wants,​ demands, market​ offerings, and markets
D. Needs, wants, and​ demands; market​ offerings; value and​ satisfaction; exchanges and​ relationships; and markets
E. Needs, wants, and​ demands; products;​ value; customers; and competitors


Answer: D

The first step of the marketing process is to​ ___________________.

The first step of the marketing process is to​ ___________________.

A. understand the​ marketplace, which includes customer needs and wants.
B. design a​ customer-driven marketing strategy
C. construct an integrated marketing program that delivers superior value
D. capture value from customers to create profits and customer equity
E. build profitable relationships


Answer: A

Which of the following is included in a broad definition of​ marketing?

Which of the following is included in a broad definition of​ marketing?

A. Creating customer​ value, building customer​ relationships, and having a strong selling orientation
B. Satisfying​ customers, beating​ competitors, and maximizing profits
C. Creating customer​ value, building customer​ relationships, and engaging customers
D. Advertising, selling, and developing quality products
E. Selling, advertising, and promoting


Answer: C

Both product development strategies and diversification strategies involve ________.

Both product development strategies and diversification strategies involve ________.

A) selling a company's current products
B) selling in a company's current market
C) selling in new as well as existing markets
D) developing a new product
E) leaving the current market


Answer: D) developing a new product

Greyzone, a company that creates customized household furniture, is based in Terrania and is looking to enter other countries as well. The company identifies the country of Nyevka as a good option because the entry barriers for new companies are low in Nyevka. Which statement indicates that Greyzone follows a diversification strategy?

Greyzone, a company that creates customized household furniture, is based in Terrania and is looking to enter other countries as well. The company identifies the country of Nyevka as a good option because the entry barriers for new companies are low in Nyevka. Which statement indicates that Greyzone follows a diversification strategy?

A) Greyzone does not modify its products for the Nyevkan market.
B) Greyzone leaves the Terranian market entirely in order to establish itself in the Nyevkan market with its current products.
C) Noting that Nyevka lacks well-established suppliers of office equipment, Greyzone begins to manufacture and supply office equipment.
D) Greyzone manufactures furniture in Terrania and ships it to Nyevka without setting up outlets in Nyevka.
E) Noting that production costs are lower in Nyevka, Greyzone shifts its production operations entirely to Nyevka.


Answer: C) Noting that Nyevka lacks well-established suppliers of office equipment, Greyzone begins to manufacture and supply office equipment.

Both market penetration strategies and market development strategies primarily involve ________.

Both market penetration strategies and market development strategies primarily involve ________.

A) selling a company's current products
B) modifying the company's product line
C) selling in new as well as existing markets
D) developing a new product
E) leaving the current market


Answer: A

Under Armour's decision to add athletic shoes to its apparel line in 2006 is an example of a ________ strategy.

Under Armour's decision to add athletic shoes to its apparel line in 2006 is an example of a ________ strategy.

A) market penetration
B) market development
C) downsizing
D) diversification
E) product development


Answer: E

BlueBear is a shoe manufacturer based in the United States. Which of the following indicates that the company is following a market development strategy?

BlueBear is a shoe manufacturer based in the United States. Which of the following indicates that the company is following a market development strategy?

A) BlueBear introduces a line of children's clothing to its current target market.
B) BlueBear employs a British comedian for a U.S. advertising campaign.
C) BlueBear introduces its shoes in the Indian and South-East Asian markets.
D) BlueBear adds a line of leather purses to its offerings in the U.S. market.
E) BlueBear develops a line of athletic shoes for its current target market.


Answer: C

ToyBox is a toy manufacturer based in the United Kingdom. Which of the following indicates that the company is following a market penetration strategy?

ToyBox is a toy manufacturer based in the United Kingdom. Which of the following indicates that the company is following a market penetration strategy?

A) It introduces a line of children's clothing in the United Kingdom.
B) It acquires toy rights for a popular cartoon character to boost its sales.
C) It introduces its toys in the Indian and South-East Asian markets.
D) It enters the U.S. market with a line of children's clothing.
E) It develops a new line of educational software targeted at the current market.


Answer: B

Ainsworth is a toy manufacturer based in Australia. Which of the following most likely indicates that Ainsworth is following a diversification strategy?

Ainsworth is a toy manufacturer based in Australia. Which of the following most likely indicates that Ainsworth is following a diversification strategy?

A) Ainsworth increases its spending on advertising and promotion.
B) Ainsworth acquires the rights to manufacture toys resembling a popular cartoon character.
C) Ainsworth introduces its toys in the Indian and South-East Asian markets.
D) Ainsworth enters the U.S. market with a line of children's clothing.
E) Ainsworth develops a new line of educational toys targeting its current market.


Answer: D) Ainsworth enters the U.S. market with a line of children's clothing.

Under Armour increasing its advertising spending and offering an ever-increasing range of styles and colors in its original apparel line is an example of a ________ strategy.

Under Armour increasing its advertising spending and offering an ever-increasing range of styles and colors in its original apparel line is an example of a ________ strategy.

A) market penetration
B) market development
C) product diversification
D) business harvesting
E) product development


Answer: A

EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of ________.

EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of ________.

A) market development
B) product development
C) diversification
D) market penetration
E) product adaptation


Answer: D

A firm's decision to identify and develop new markets for existing products is a ________ strategy.

A firm's decision to identify and develop new markets for existing products is a ________ strategy.

A) market development
B) market differentiation
C) market penetration
D) product development
E) diversification


Answer: A

A strategy for company growth that involves increasing sales to current market segments without changing the product is known as ________.

A strategy for company growth that involves increasing sales to current market segments without changing the product is known as ________.

A) market development
B) market differentiation
C) market penetration
D) product development
E) diversification


Answer: C

Which of the following companies is using a divesting strategy?

Which of the following companies is using a divesting strategy?

A) Juggernaut Bikes acquires new businesses in order to increase its market share.
B) To achieve a higher market share, LBD Inc. increases investments in advertising and promotion.
C) When sales of its clothing division decline, Blackstone sells the division to a competitor.
D) Getix Computers increases the price of its products in order to maximize short-term profits.
E) Harlow's market share remains steady over two years, and the firm decides to maintain its share at the current level.


Answer: C

When a company chooses to divest a particular strategic business unit, it ________.

When a company chooses to divest a particular strategic business unit, it ________.

A) increases the advertising budget for that strategic business unit
B) invests more in the strategic business unit to build its market share
C) sells off or phases out the strategic business unit
D) invests just enough in the strategic business unit to keep its market share at the current level
E) gradually increases investment in the strategic business unit over time to maximize profits


Answer: C

P&G's decision to eliminate dozens of major brands from its portfolio including Crisco, Folgers, and Jif to focus on household care, beauty, and grooming products is an example of ________.

P&G's decision to eliminate dozens of major brands from its portfolio including Crisco, Folgers, and Jif to focus on household care, beauty, and grooming products is an example of ________.

A) pruning
B) harvesting
C) market segmentation
D) diversification
E) market saturation


Answer: A

Which of the following statements is true in the context of the BCG growth-share matrix?

Which of the following statements is true in the context of the BCG growth-share matrix?

A) Stars often need heavy investment to finance their rapid growth in a market.
B) The positions of SBUs in the growth-share matrix rarely change over time.
C) The income from one SBU cannot be used to support other business units.
D) Dogs promise to be large sources of cash.
E) Cash cows typically turn into stars.


Answer: A

According to the BCG matrix, products or businesses with a low share of market in a high-growth industry are considered ________.

According to the BCG matrix, products or businesses with a low share of market in a high-growth industry are considered ________.

A) dogs
B) cash cows
C) black holes
D) stars
E) question marks


Answer: E

Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark?

Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark?

A) Blue — a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily
B) Electra — a home entertainment system that has a strong market share in a market that is likely to expand in the future
C) Jump — an MP3 player that has a high market share in a market that is not expected to grow significantly
D) SpinDrive — a car audio system that has a high market share in a market that has been growing constantly
E) SoLo — a CD player that has a very low market share in a market that is shrinking rapidly


Answer: A

Which of the following products would the electronics company CypressSound classify as a cash cow in its BCG matrix?

Which of the following products would the electronics company CypressSound classify as a cash cow in its BCG matrix?

A) Cyan — a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily
B) Boosh — a home entertainment system that has a strong market share in a market that is likely to expand in the future
C) Xpress — an MP3 player that has a high market share in a market that is not expected to grow significantly
D) AutoPlay — a car audio system that has a high market share in a market that has been growing constantly
E) Unipress — a CD player that has a very low market share in a market that is shrinking rapidly


Answer: C

Due to the limitations of the BCG and other formal portfolio planning models, many companies are placing responsibility for strategic planning in the hands of cross-functional teams of divisional managers who are close to their markets. In such organizations, strategic planning is ________.

Due to the limitations of the BCG and other formal portfolio planning models, many companies are placing responsibility for strategic planning in the hands of cross-functional teams of divisional managers who are close to their markets. In such organizations, strategic planning is ________.

A) centralized
B) decentralized
C) purposeful
D) limited
E) informal


Answer: B

Omni Healthcare's analgesic drug Cetaprin has a 40% share in the analgesics market in the country of Terrania. Its closest competitor, Febex, has a 25% share in the market, while four other analgesic brands split the remainder. Which statement indicates that Cetaprin is a cash cow according to the BCG matrix?

Omni Healthcare's analgesic drug Cetaprin has a 40% share in the analgesics market in the country of Terrania. Its closest competitor, Febex, has a 25% share in the market, while four other analgesic brands split the remainder. Which statement indicates that Cetaprin is a cash cow according to the BCG matrix?

A) Omni Healthcare often takes money from other strategic business units to support Cetaprin.
B) A customer survey shows that Cetaprin users do not prefer it to other analgesics in the market.
C) The demand for analgesic drugs in the Terrania market is expected to remain stable.
D) Febex is rapidly gaining market share over Cetaprin due to aggressive marketing efforts.
E) The Terrania market for healthcare products is expanding rapidly.


Answer: C

In the BCG matrix, ________ refer to low-growth, high-share businesses or products.

In the BCG matrix, ________ refer to low-growth, high-share businesses or products.

A) stars
B) cash cows
C) question marks
D) dogs
E) heroes


Answer: B

In the BCG growth-share matrix, question marks refer to products or businesses with a ________.

In the BCG growth-share matrix, question marks refer to products or businesses with a ________.

A) low market share in a niche market
B) low market share in a market with high growth prospects
C) greater market share than all their competitors combined in a saturated market
D) high market share in a market with a high growth rate
E) low market share in a market that is set to shrink significantly


Answer: B

According to the BCG matrix, products or businesses with a high market share in a high-growth market are classified as ________.

According to the BCG matrix, products or businesses with a high market share in a high-growth market are classified as ________.

A) stars
B) cash cows
C) question marks
D) dogs
E) heroes


Answer: A

The two dimensions the BCG approach uses to evaluate and manage SBUs are ________.

The two dimensions the BCG approach uses to evaluate and manage SBUs are ________.

A) market growth rate and relative market share
B) market growth rate and market penetration
C) market growth rate and market development
D) relative market share and product development
E) relative market share and market penetration


Answer: A

Which of the following criteria provides a measure of market attractiveness in the Boston Consulting Group approach?

Which of the following criteria provides a measure of market attractiveness in the Boston Consulting Group approach?

A) relative market share
B) market sentiment
C) return on marketing investment
D) market growth rate
E) brand image


Answer: D

Business portfolio analysis is defined as the process in which management ________.

Business portfolio analysis is defined as the process in which management ________.

A) studies the products and strategies of competitors to improve the company's own products
B) analyzes consumer feedback in order to better position the company's brand image
C) assesses the attractiveness of an SBU's market and the strength of its position in the market
D) segments the company's markets to reach target consumers effectively
E) conducts marketing research to evaluate the company's marketing strategy


Answer: C

Which of the following best describes a company's business portfolio?

Which of the following best describes a company's business portfolio?

A) the list of all the marketing activities in which the company invests
B) the target segments of the company's various businesses
C) the company's products or services in a particular market
D) the collection of businesses and products that make up the company
E) the company's strengths in terms of technology, people, and products


Answer: D

A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment.

A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment.

A) marketing strategy
B) marketing objective
C) strategic plan
D) mission statement
E) market portfolio


Answer: D

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. The CEO stresses that the new mission statement should be market-oriented rather than product-oriented. Which of the following mission statements will best suit the company?

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. The CEO stresses that the new mission statement should be market-oriented rather than product-oriented. Which of the following mission statements will best suit the company?

A) to create the best possible products and sell them at the best possible prices
B) to sell hypoallergenic cosmetics products made only from the finest organic ingredients
C) to give customers the complexion they dream about by providing products suited to their needs
D) to become a market leader in every cosmetics product category
E) to increase our market share in the cosmetics segment and increase profit margins


Answer: C

Which of the following is true of strategic planning in a firm?

Which of the following is true of strategic planning in a firm?

A) It deals with maintaining the company's current business ventures.
B) It focuses on the firm's internal environment rather than the external environment.
C) It occurs at the business-unit, product, and market levels rather than at the corporate level.
D) It deals with adapting the firm to take advantage of changing marketing opportunities.
E) It involves preparing short-term investment objectives at the product level.


Answer: D

Which of the following is most likely a consequence of the Great Recession of 2008 to 2009?

Which of the following is most likely a consequence of the Great Recession of 2008 to 2009?

A) more free-spending on expensive products
B) more demand for credit and debit cards
C) more sensible and mindful consumption
D) less interest in frugality and value
E) less emphasis on sustainable marketing


Answer: C

______ marketing is perhaps the fastest-growing marketing platform.

______ marketing is perhaps the fastest-growing marketing platform.

A) Online
B) Social media
C) Mobile
D) Web site
E) Blog


Answer: C

Many leading business and marketing thinkers are now preaching the concept of "shared value" which recognizes that ________ needs, not just economic needs, define markets.

Many leading business and marketing thinkers are now preaching the concept of "shared value" which recognizes that ________ needs, not just economic needs, define markets.

A) functional
B) marketing
C) individual
D) societal
E) physical


Answer: D

The societal marketing concept holds that ________.

The societal marketing concept holds that ________.

A) consumers will not buy enough of a firm's products unless the firm undertakes a large-scale selling and promotion effort
B) a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment
C) the society will only favor products that are available and highly affordable
D) achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do
E) consumers will favor products that offer the most in quality, performance, and innovative features


Answer: B

Cylog, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by Cylog?

Cylog, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by Cylog?

A) the selling concept
B) customer-driving marketing
C) the product concept
D) sustainable marketing
E) the production concept


Answer: B

______ companies research customers deeply to learn about their desires, gather new product ideas, and test product improvements.

______ companies research customers deeply to learn about their desires, gather new product ideas, and test product improvements.

A) Production-oriented
B) Customer-driving
C) Customer-driven
D) Functional
E) Societal


Answer: C

Customer-driven marketing is most effective when ________.

Customer-driven marketing is most effective when ________.

A) a clear need exists among customers, but the need is difficult to identify
B) customers do not know what they want but are easily persuaded
C) customers seek new products and technological innovations
D) clear needs exist and customers know what they want
E) customers have wants but cannot afford them


Answer: D