BUSS110 Final Exam Study Sheet
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1. (p. 15) Until recently, good PC software for
producing digital videos was not available, but was much in demand by
businesses. The first companies to produce a specific type of program had good
sales even though they did little promotion and their programs were not
"user-friendly." It seems that many of these "innovators"
operated as if they were in the:
2. (p. 7) The aim of marketing is to
- customers' needs and meet those needs so well that the product almost
- "sells itself."
3. (p. 17) Which of the following is LEAST LIKELY to
be found in a production-oriented firm?
Producing goods that exactly meet the customer's needs.
4. (p. 10-11) Concerning the "universal functions
of marketing," which of the following statements is
None of the above is false.
5. (p. 10-11) The universal functions of marketing
not every firm must perform all of the marketing functions.
6. (p. 13) In a market-directed economy:
the individual decisions of the many producers and consumers make the macro-level decisions for the whole economy.
7. (p. 16) The _________________ era is a time when a
company emphasizes selling because of the increased competition in the external
8. (p. 10) Which of the following is NOT true about
They always increase total expenses for a product.
9. (p. 43) A marketing program blends all of the
firm's marketing plans into one "big" plan and is the responsibility
of the whole company.
10. (p. 50) Differentiation refers to the
______________ of the firm's marketing mix to meet the needs of the target
11. (p. 39) An appropriate marketing mix should be
determined _______ by the needs of a target market.
12. (p. 38) The Price area of the marketing mix:
13. (p. 47) Which of the following best illustrates a
- A drug
- company develops a patented pill that people can take once a year and safely
- avoid catching a cold.
14. (p. 38) In general, no single element of the
"four Ps" is more important than the others.
15. (p. 80-81) When evaluating the potential of possible
opportunities (product-market strategies), a marketing manager should:
- each opportunity over the life of the project, since short-term losses may hide
- long-term profitability
16. (p. 61) Earning a profit probably should be one of
the objectives of a firm, but it should not be the only one.
17. (p. 75) The Sherman Act is primarily designed
prevent monopolies or conspiracies in restraint of trade.
18. (p. 72) Strong sentiments of nationalism
facilitate growth in importing and exporting.
19. (p. 77-78) More women working outside the home and
greater interest in leisure are examples of changes in the ______________
cultural and social.
20. (p. 96) Marketing-oriented managers see segmenting
as a process of aggregating people with similar needs into a group.
21. (p. 108) The seven-step approach to market
segmentation begins to consider whether a particular group can be profitable to
the firm in Step 1—and that is a major consideration throughout all seven
22. (p. 93) A product-market definition should
All of the above.
23. (p. 104-105) The first step in segmenting international
markets is to group countries that are close to each other into "common
24. (p. 106-107) In the seven-step approach, qualifying
dimensions are identified in Step 3 but determining dimensions are not
identified until Step 4.
25. (p. 92) A firm's "relevant market for finding
be bigger than the firm's present product-market—but not so big that the firm couldn't be an important competitor.
26. (p. 105) The seven-step approach is a "best
practice" approach to the ideas discussed in Exhibit 2-10.
27. (p. 139) The traditional family flow, according to
the family life cycle, does not include people who are
middle-aged divorced without dependent children.
28. (p. 129-130) Regarding changing population
with rapid population growth may offer
the most attractive marketing opportunities.
29. (p. 165) What is the level of involvement in a
purchase decision for a small kitchen appliance?
30. (p. 154) _____ is a change in a person's thought
processes caused by prior experience.
31. (p. 148) Which of the following would be most
helpful for predicting why a final consumer selects one of several similar
behavioral science theories
32. (p. 166) Dissonance is:
- caused by uncertainty about the rightness of a decision
33. (p. 154-155) Which of the following is an example of
using a cue to attract consumers?
All of the above are examples.
34. (p. 165) Which of the following products probably
would result in the lowest involvement purchase for most consumers?
35. (p. 178) In a buying center, which of the following
are likely to be influencers?
- who supply information for evaluating alternatives.
36. (p. 179) Vendor analysis:
- a formal rating of suppliers on all relevant areas of performance.
37. (p. 182) Regarding new-task organizational buying,
which of the following persons is LEAST likely to be involved?
- competitor's purchasing manager
38. (p. 182) A vendor is MOST likely to make a sale if
the buyer has bought from the vendor before and is doing:
39. (p. 182) Which of the following buying situations
gives a seller the most chance for promotion impact?
40. (p. 195) Regarding the government market,
government is the largest customer group in the
- about 30 percent of GDP.
41. (p. 190-191) Regarding the size of manufacturing
concerns, large firms (with more than 250 employees)
- few in number but their employees account for nearly half of all employed
42. (p. 189) Which of the following situations would
involve negotiated contract buying?
- and manufacture a new computer accessory
43. (p. 209) _____ is an informal study of what
information is already available in the problem area.
44. (p. 208) Which of the following is NOT part of the
five-step marketing research process discussed in the text?
- the marketing information system (MIS).
45. (p. 202-203) Regarding marketing research,
- a good researcher will understand the marketing problem as well as the technical
- details of marketing research.
46. (p. 215) Mail surveys:
47. (p. 207) The scientific method in marketing
- an orderly research process.
48. (p. 207) A decision-making approach that focuses on
being objective and orderly in testing ideas before accepting them is
49. (p. 213) A consumer products manufacturer wants
consumer reaction to its existing products. Interaction is considered important
to stimulate thinking. The firm should use:
50. (p. 202-203) Which of the following statements BEST
reflects the point of view of the text with respect to marketing
- we work with outside marketing research specialists, we expect them to take the
- time to really understand the problem we are trying to solve."
51. (p. 213) An interview with 6 to 10 people in an
informal group setting is called a(an):
52. (p. 224-225) Regarding international marketing
- with operations in several countries often try to centralize some marketing
- research functions to reduce costs.
53. (p. 214) Marketing research which seeks structured
responses that can be summarized is called:
54. (p. 248) ___________ shopping products are products
that the customer sees as basically the same and wants at the lowest
55. (p. 241) Products which have no brand other than
the identification of their contents are called
56. (p. 244) A "universal product code"
- a product with a mark which can be "read" by electronic scanners.
57. (p. 249) Which of the following statements about
consumer products is true?
- products are not shopped for at all.
58. (p. 249-250) Consumer products which consumers do not
yet want or know they can buy - and probably would not buy without special
promotion even if they saw them - are called:
59. (p. 274) From a "social responsibility"
viewpoint, marketers should try to design and sell:
60. (p. 264) The shape, length, and current stage of a
product life cycle may vary depending:
61. (p. 304-305) "Ideal market exposure" should
make a product widely enough available to satisfy target customers' needs, but
not exceed them.
62. (p. 310) Of the six basic kinds of involvement in
international marketing, exporting is the least permanent.
63. (p. 310) Exporters usually work with specialists
who can handle international problems such as customs, taxes, exchange rates,
64. (p. 331) Efforts to reduce the environmental
efforts of transporting usually increase the firm's distribution costs.
65. (p. 319) According to the "physical
- transporting, storing, and product-handling activities of a business and a
- whole channel system should be coordinated as part of one system.
66. (p. 322-323) Every firm should try to use the
just-in-time approach to physical distribution.
67. (p. 325) Which of the following statements about
electronic data interchange is FALSE?
- has not yet spread to international markets.
68. (p. 327-329) Regarding alternative transporting modes,
which of the following statements is TRUE?
69. (p. 344) _________ specialize in certain lines of related products rather than a wide assortment.
70. (p. 359) Which of the following is not a type of
71. (p. 345) Which of the following retailers was the
first to adopt the mass-merchandising concept?
72. (p. 345) Department stores:
All of the above are true.
73. (p. 359) Regarding merchant wholesalers, which of
the following statements is TRUE?
- of the above are true.
74. (p. 352) The idea that new types of retailers begin
as low-status, low-margin, low-price operators and then—if successful—evolve
into more conventional retailers offering more services is called the:
- of retailing theory.
75. (p. 349) Telephone and direct-mail retailing:
- margins have been falling because of increased competition.
76. (p. 345) The "mass-merchandising"
- on increasing sales and speeding turnover by lowering prices
77. (p. 328) At least ________ percent of all freight
shipped in the United States moves by trucks—at least part of the way—from
producer to user.
78. (p. 323) A supply chain:
- all the activities involved in procuring materials, transforming them into
- products, and distributing them to customers.
79. (p. 331) Storing:
- necessary when production does not match consumption.
80. (p. 360) Drop-shippers:
- not stock the products they sell
81. (p. 347) A "supercenter":
is concerned with providing all of the customer's routine needs at a low price.
82. (p. 345) Supermarkets:
- designed to maximize efficiency.
83. (p. 347) Supercenters are also known as
84. (p. 347) A "supercenter":
tries to provide all of a customer's routine needs—at a low price
85. (p. 410) Which of the following is a good example
of a sales technology?
all of the above
86. (p. 412) According to the text, to recruit,
motivate, and keep good salespeople, a firm has to
- an effective compensation plan.
87. (p. 413) All of the following are payment methods
for personal selling except
88. (p. 413) A merchant wholesaler who wants to provide
the most INCENTIVE in his sales force payment plan should use:
89. (p. 446-447) Which of the following is a possible
outcome of a sales promotion?
90. (p. 444) Research to evaluate advertising
- experiments conducted using split runs on cable TV systems.
91. (p. 430) Institutional advertising:
- to develop goodwill for a company or even an industry.
92. (p. 463) Which of the following statements about a
flexible- price policy is True?
- pricing often involves price negotiation between the buyer and seller.
93. (p. 470) A marketing manager might offer a cash
discount to channel members to:
- buyers to pay their bills quickly.
94. (p. 502) Customers are likely to be less price
- greater the significance of the end benefit.
95. (p. 501) In marginal analysis, the profit
maximizing point is the point at which:
- difference between total revenue and total cost is maximized.
96. (p. 523-524) The best way to break down and analyze
sales data is
- of the above, depending on the situation.
97. (p. 526) Performance analysis:
- be based on several different performance indexes.
98. (p. 524) Sales analysis:
- of the above are true.
99. What kind of promotion is PSI using when it publishes catalogs
and exhibits in trade shows?
100. (p. 580-585) Improving both micro-marketing and
macro-marketing may require:
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