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NEW QUESTION 61
If a company claims to be fair toward its customers, it would imply that:
- A. the company offers discounts to its regular customers.
- B. the company does not accept criticism from its stakeholders other than customers.
- C. the company gives back to the community through volunteerism.
- D. the company makes an effort to improve the satisfaction of customers.
- E. the company does not engage in price fixing or ""bait and switch"" tactics.
Answer: E
Explanation:
Explanation
NEW QUESTION 62
Which of the following is most likely to be considered a convenience product?
- A. Concert tickets purchased online
- B. A can of soda
- C. A haircut
- D. A lamp
- E. Running shoes
Answer: B
NEW QUESTION 63
The level of difficulty a manufacturer experiences in getting retailers to purchase its products is determined by:
- A. the degree to which the channel is horizontally integrated.
- B. the number of retailers located in a specific geographic region.
- C. the degree to which the channel is vertically integrated.
- D. the degree to which the channel is diagonally integrated.
- E. the number of competitors in the market.
Answer: C
NEW QUESTION 64
A particular webpage is used to conduct an online survey and only one in four visitors participates in the survey. If the webpage is visited by an average of 30,000 visitors every day, what the average conversion rate of the webpage?
- A. 100%
- B. 25%
- C. 50%
- D. 75%
- E. 0%
Answer: B
NEW QUESTION 65
_____ is/are also known as the Digital Natives, because people in this group were born into a world that already was full of electronic gadgets and digital technologies, such as the Internet and social networks.
- A. Millenials
- B. The Baby Boomers
- C. Generation X
- D. Generation Z
- E. Generation Y
Answer: D
NEW QUESTION 66
Which of the following is the first step in planning and executing an advertising campaign?
- A. Identifying the target audience
- B. Determine the budget
- C. Conveying the message
- D. Evaluating and selecting media
- E. Creating advertisement
Answer: A
NEW QUESTION 67
When a marketer conducts user generated content campaigns, it must:
- A. ensure that users confirm the rights to and authority over materials being submitted.
- B. blur out or pixelate media that reveals the identity of the user.
- C. obtain parent or guardian permission to feature users who are below 21 years of age.
- D. remember that carefully drafted submission guidelines are not particularly useful in regulating user generated content.
- E. remember that it is not liable for information that is disparaging, defamatory, or otherwise offensive.
Answer: A
NEW QUESTION 68
Calculate the brand development index of a company for a region where it earns 20% of its sales and in which
4% of the country's population resides.
- A. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: B
NEW QUESTION 69
_____ are consumers who like to avoid change and rely on traditional products until they are no longer available.
- A. Early adopters
- B. Laggards
- C. Late majority
- D. Innovators
- E. Early majority
Answer: B
NEW QUESTION 70
Ryan's Bikes, a motorcycle company, designs and builds custom bikes. The company
customizes each vehicle according to the taste, specification and individual requirements of the customer. In this scenario, Ryan's is using a _____ strategy.
- A. undifferentiated targeting
- B. concentrated targeting
- C. mass marketing targeting
- D. micromarketing
- E. differentiated targeting
Answer: D
NEW QUESTION 71
Which of the following accurately describes markdowns?
- A. Temporary promotions that aim at inducing new customers and converting them to regular customers
- B. Temporary discounts offered on products and services to stimulate sales during off-peak seasons
- C. Price reductions that retailers offer on the initial selling price of the product or service
- D. Refunds offered to customers on the purchase of a product during a limited time period
- E. Variable discounts that are based on the quantity of the products being purchased
Answer: C
NEW QUESTION 72
Tim, a musician, was embroiled in an online dispute with an airline company. Tim alleged that his guitar was manhandled by the staff and therefore he set up a blog and released two videos in order to convince others not to use the airline. Which stage of the 4E framework is seen in this scenario?
- A. Excite the customer
- B. Engage the product
- C. Experience the service
- D. Educate the customer
- E. Experience the product
Answer: B
NEW QUESTION 73
A local Target retailer carries a variety of different items. A customer can find anything ranging from socks, DVD's, and sports gear to groceries. This is an example of the __________ carried by Target.
- A. depth of the product mix
- B. breadth of product line
- C. depth of product line
- D. breadth of product mix
- E. versatility of product line
Answer: D
NEW QUESTION 74
Services are:
- A. physical objects sold in exchange for value.
- B. the concepts and thoughts about ideas or causes.
- C. intangible customer benefits that cannot be separated from the producer.
- D. the benefits organizations receive in exchange for selling products.
- E. the concepts and philosophies that go into creating a good.
Answer: C
NEW QUESTION 75
Services are:
- A. physical objects sold in exchange for value.
- B. the concepts and thoughts about ideas or causes.
- C. intangible customer benefits that cannot be separated from the producer.
- D. the benefits organizations receive in exchange for selling products.
- E. the concepts and philosophies that go into creating a good.
Answer: C
NEW QUESTION 76
What does the break-even point refer to in a break-even analysis?
- A. It refers to the required number of products that should sell for the profit to equal the fixed costs.
- B. It refers to the point at which the variable costs start increasing over fixed costs.
- C. It refers to the point at which the fixed costs curve intersects the variable costs curve.
- D. It refers to the number of product units sold at which point both loss and profit are zero.
- E. It refers to the point at which the total costs are equal to the profit generated.
Answer: D
NEW QUESTION 77
Donner Inc. manufactures a new vacuum cleaner that it claims can actively disinfect areas from bacteria and viruses, along with dust and dust mites. Whitwell Technologies, Donner's competitor, is fascinated with the idea but does not want to license technology from Donner Inc. Instead, the R&D team at Whitwell take apart Donner's vacuum cleaner to understand how it works. Whitwell improves on the technology and manufactures a vacuum cleaner that it claims to be better at disinfecting areas from bacteria and viruses than other competitors. Which of the following is illustrated in the scenario?
- A. Brainstorming
- B. Reverse engineering
- C. R&D Consortia
- D. Licensing
- E. Outsourcing
Answer: B
NEW QUESTION 78
_____ is a method of prospecting in which salespeople telephone or go to see potential customers without appointments.
- A. E-selling
- B. Relationship selling
- C. Cold calling
- D. Macro selling
- E. Direct selling
Answer: C
NEW QUESTION 79
Raymond is driving across town when he spots a billboard that reads, "When life begins..." He instantly recognizes this as the tagline for Voch Spa and expects to find a spa nearby. Which of the following aspects of a brand is exemplified in this scenario?
- A. Brand loyalty
- B. Brand association
- C. Brand licensing
- D. Brand extension
- E. Brand dilution
Answer: B
NEW QUESTION 80
The profit earned by a product is at its lowest during the _____ stage of the product life cycle.
- A. accelerated development
- B. introduction
- C. growth
- D. maturity
- E. decline
Answer: B
NEW QUESTION 81
Which of the following is true of a strategic alliance?
- A. It involves investing in the partner firm.
- B. It involves only B2B selling.
- C. It involves sharing financial burdens.
- D. The firms involved do not engage in equity partnerships.
- E. It enables a partner firm to use the brand image of another.
Answer: D
NEW QUESTION 82
_____ is a method of prospecting in which salespeople telephone or go to see potential customers without appointments.
- A. E-selling
- B. Relationship selling
- C. Cold calling
- D. Macro selling
- E. Direct selling
Answer: C
NEW QUESTION 83
_____ is a theory that states that if the exchange rates of two countries are in equilibrium, a product purchased in one will cost the same in the other, if expressed in the same currency.
- A. Purchasing power parity theory
- B. Samuelson effect theory
- C. Subsistence theory
- D. Trade parity theory
- E. Penn effect theory
Answer: A
NEW QUESTION 84
_____ involves a process of defining the 4P variables so that target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products.
- A. Relative positioning
- B. Competitive positioning
- C. Selective perception
- D. Market positioning
- E. Value proposition
Answer: D
NEW QUESTION 85
Forever Quilting is a company that designs and distributes quilting kits. The kits are priced at $120 each. The costs of the materials that go into each kit are $45. It costs $5 in labor to assemble a kit. The company has monthly expenses of $1,200 for rent and insurance, $300 for heat and electricity, $600 for advertising in quilting magazines, and $3,500 for the monthly salary of its owner. What is the break-even point for Forever Quilting?
- A. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: A
NEW QUESTION 86
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