COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > PRACTICE TESTS > REVIEW ASSESSMENT: PRACTICE TEST 7
Review Assessment: Practice test 7
Name: Practice test 7
Status : Completed
Score: 0 out of 10 points
Time Elapsed: 0 hours, 0 minutes, and 6 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 0 of 1 points
Bonnie has enough money to either buy a used car or to pay for an international marketing class that will spend three weeks visiting companies in Europe. She needs the car to get to work and to class, but she is also planning on a career in international marketing, and the trip would allow her to start networking. She will incur _____ whether she buys the car or takes the class.
Selected Answer: [None Given]
Correct Answer: opportunity costs
Question 2 Multiple Choice 0 of 1 points
A kinked demand occurs when:
Selected Answer: [None Given]
Correct Answer: total revenue declines when a product’s price is increased or decreased in relation to the prevailing market level.
Question 3 Multiple Choice 0 of 1 points
Break-even analysis:
Selected Answer: [None Given]
Correct Answer: is calculated using per unit variable costs, the per unit price, and fixed costs
Question 4 Multiple Choice 0 of 1 points
With _____, the marketers figure; all costs for the product and then add the desired profit per unit.
Selected Answer: [None Given]
Correct Answer: cost-plus pricing
Question 5 Multiple Choice 0 of 1 points
Ted in California purchased a Weber gas grill and his brother Chuck in Wisconsin purchased the same grill. Both purchases were made through an Internet site, www.americasbest.com. Both brothers paid the same shipping charges because America’s Best uses:
Selected Answer: [None Given]
Correct Answer: uniform delivered pricing
Question 6 Multiple Choice 0 of 1 points
Which of the following would be an example of a variable cost for an amusement park?
Selected Answer: [None Given]
Correct Answer: rest room supplies
Question 7 Multiple Choice 0 of 1 points
When Joe’s Coffee Nook raised the price of latté, Joe noticed a substantial change in how many cups of latté he sold daily. When he reduced the price of a cup of latte, his sales of latté increased. From this information, you can assume the demand for cups of latté is:
Selected Answer: [None Given]
Correct Answer: elastic
Question 8 Multiple Choice 0 of 1 points
Monica makes seasoning mixes that she sells at craft fairs. She knows her variable costs, but she needs to calculate her fixed costs per jar produced. Monica will need to calculate her:
Selected Answer: [None Given]
Correct Answer: average fixed cost
Question 9 Multiple Choice 0 of 1 points
When demand is ______, increases in price result in increases in total revenues while decreases in price result in decreases in total revenue.
Selected Answer: [None Given]
Correct Answer: inelastic
Question 10 Multiple Choice 0 of 1 points
Amerfit Nutrition is a leading manufacturer of nutritional supplements. When setting prices, the company decided to institute a pricing strategy that would support a five percent increase in sales over the next three years. What type of pricing objective does Amerfit Nutrition have?
Selected Answer: [None Given]
Correct Answer: sales or market share
COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > PRACTICE TESTS > REVIEW ASSESSMENT: PRACTICE TEST 7
Review Assessment: Practice test 7
Name: Practice test 7
Status : Completed
Score: 0 out of 10 points
Time Elapsed: 0 hours, 0 minutes, and 6 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 0 of 1 points
A&D Industries makes dog beds stuffed with cedar shavings. Each bed costs $3 to make and will be sold to a distributor for $5 each. Its total fixed cost is $12,500. Calculate A&D’s break-even point in dollars.
Selected Answer: [None Given]
Correct Answer: $31,250
Question 2 Multiple Choice 0 of 1 points
Everyone has seen commercials in which consumers are told that a particular retailer is determined to offer the lowest price and if a lower price can be found, the retailer will match it. Which external influence on pricing is most evident in this type of advertising?
Selected Answer: [None Given]
Correct Answer: the competition
Question 3 Multiple Choice 0 of 1 points
For a company that manufactures plastic signs, the printing press used to make the signs, its manager’s salary, and its utilities are all examples of:
Selected Answer: [None Given]
Correct Answer: fixed costs
Question 4 Multiple Choice 0 of 1 points
The average price Xerox charged when it introduced the first stand-alone fax machine was $12,700. This premium price was a way for Xerox to recoup some of the research and development costs that went into producing this machine. Xerox used:
Selected Answer: [None Given]
Correct Answer: a skimming price
Question 5 Multiple Choice 0 of 1 points
A firm is using _____ when it charges a high, premium price for a new product with the intention of reducing the price in the future.
Selected Answer: [None Given]
Correct Answer: a skimming price
Question 6 Multiple Choice 0 of 1 points
According to the textbook, which of the elements of the marketing mix is probably the least understood and least appreciated?
Selected Answer: [None Given]
Correct Answer: pricing
Question 7 Multiple Choice 0 of 1 points
A firm is using a _____ strategy when it introduces a product at a very low price to encourage rapid product adoption.
Selected Answer: [None Given]
Correct Answer: penetration pricing
Question 8 Multiple Choice 0 of 1 points
Marvin wants to buy a new rifle. He saw just the one he wanted advertised in the newspaper at a very low price. When he went to buy the gun, the store salesperson told Marvin the sale gun was inferior and would not sell it to him. Then the salesperson proceeded to convince Marvin to buy a rifle that cost much more money than he had intended to spend. Marvin has been victimized by:
Selected Answer: [None Given]
Correct Answer: a bait-and-switch scheme
Question 9 Multiple Choice 0 of 1 points
When Radius Corporation introduced its unique, oval-headed toothbrush made of black neoprene that looks like a scuba-diving accessory, Radius priced the toothbrush at $9.95 at a time when regular toothbrushes were selling for $2. Radius wanted to recoup its investment in developing this toothbrush by using:
Selected Answer: [None Given]
Correct Answer: a skimming price
Question 10 Multiple Choice 0 of 1 points
The demand curve:
Selected Answer: [None Given]
Correct Answer: shows the relationship between product demand and product price
COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > PRACTICE TESTS > REVIEW ASSESSMENT: PRACTICE TEST 7
Review Assessment: Practice test 7
Name: Practice test 7
Status : Completed
Score: 0 out of 10 points
Time Elapsed: 0 hours, 0 minutes, and 5 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 0 of 1 points
The price elasticity of demand is calculated by:
Selected Answer: [None Given]
Correct Answer: dividing percentage change in quantity demanded by percentage change in price
Question 2 Multiple Choice 0 of 1 points
A consumer product list price is also referred to as a(n):
Selected Answer: [None Given]
Correct Answer: suggested retail price
Question 3 Multiple Choice 0 of 1 points
The Chef’s Fork is a just like all other barbecue grilling forks except it has a meat thermometer in its handle, which allows a cook to make sure the meat being grilled is done to perfection. The Chef’s Fork is in the introductory stage of its product life cycle. Most people are unaware of the product, but those who are aware are eager buyers. The fork’s manufacturer is selling the fork for $45 while an ordinary meat fork and thermometer can be purchased for less than $20. From this information, it is obvious the manufacturer of the Chef’s Fork is using:
Selected Answer: [None Given]
Correct Answer: a skimming price
Question 4 Multiple Choice 0 of 1 points
A _____ allows marketers to identify how many units of a product will have to sell at a given price to be profitable.
Selected Answer: [None Given]
Correct Answer: break-even analysis
Question 5 Multiple Choice 0 of 1 points
Go Green Power Company provides “green power,” an alternative electrical power source made from biomass (clearing debris, stumps, leaves, and grass clippings). Each of its plants is designed to produce enough electricity to power 2,500 homes. Which environmental condition will influence the pricing of this electricity?
Selected Answer: [None Given]
Correct Answer: all of the above
Question 6 Multiple Choice 0 of 1 points
With _____, the marketers figure; all costs for the product and then add the desired profit per unit.
Selected Answer: [None Given]
Correct Answer: cost-plus pricing
Question 7 Multiple Choice 0 of 1 points
To estimate what demand is likely to be at different prices for new or existing products, marketers can use:
Selected Answer: [None Given]
Correct Answer: laboratory studies
Question 8 Multiple Choice 0 of 1 points
In an oligopoly situation, where the demand curve for the product is kinked, what is the best strategy to increase profits?
Selected Answer: [None Given]
Correct Answer: Maintain price and reduce costs.
Question 9 Multiple Choice 0 of 1 points
Ann Harris Enterprises designs one-of-a-kind greeting cards. No two are exactly alike. Each card costs $.75 to create, and she sells her cards to a retail gift shop for $1.50. Her total fixed costs are $5,100. Calculate her break-even point.
Selected Answer: [None Given]
Correct Answer: 6,800 greeting cards
Question 10 Multiple Choice 0 of 1 points
Monica makes seasoning mixes that she sells at craft fairs. Which of the following statements accurately describes her costs?
Selected Answer: [None Given]
Correct Answer: Her average fixed cost is based on how many mixes she makes.
COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > PRACTICE TESTS > REVIEW ASSESSMENT: PRACTICE TEST 7
Review Assessment: Practice test 7
Name: Practice test 7
Status : Completed
Score: 0 out of 10 points
Time Elapsed: 0 hours, 0 minutes, and 7 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 0 of 1 points
Marvin wants to buy a new rifle. He saw just the one he wanted advertised in the newspaper at a very low price. When he went to buy the gun, the store salesperson told Marvin the sale gun was inferior and would not sell it to him. Then the salesperson proceeded to convince Marvin to buy a rifle that cost much more money than he had intended to spend. Marvin has been victimized by:
Selected Answer: [None Given]
Correct Answer: a bait-and-switch scheme
Question 2 Multiple Choice 0 of 1 points
Many people rely on the prescription drug Lipitor to control their cholesterol. An increase in the price of the drug would have little effect on the quantity demanded because there are no substitutes for the drug, and because people who are taking it have no choice but to continue taking it if they wish to stay healthy. The demand for Lipitor is:
Selected Answer: [None Given]
Correct Answer: inelastic
Question 3 Multiple Choice 0 of 1 points
The average price Xerox charged when it introduced the first stand-alone fax machine was $12,700. This premium price was a way for Xerox to recoup some of the research and development costs that went into producing this machine. Xerox used:
Selected Answer: [None Given]
Correct Answer: a skimming price
Question 4 Multiple Choice 0 of 1 points
Why do marketers consider prestige products to be an exception to the law of demand?
Selected Answer: [None Given]
Correct Answer: because increasing the price of prestige products can make them seem more desirable
Question 5 Multiple Choice 0 of 1 points
The most common cost-based approach to pricing is:
Selected Answer: [None Given]
Correct Answer: cost-plus pricing
Question 6 Multiple Choice 0 of 1 points
The break-even point is the point at which:
Selected Answer: [None Given]
Correct Answer: the total revenue and total costs lines intersect
Question 7 Multiple Choice 0 of 1 points
Will Rogers, the famous American humorist was quoted as saying, “What this country needs is a good five cent cigar.” This suggests an opportunity for _________.
Selected Answer: [None Given]
Correct Answer: Target costing
Question 8 Multiple Choice 0 of 1 points
Which of the following is NOT a type of pricing objective?
Selected Answer: [None Given]
Correct Answer: break-even
Question 9 Multiple Choice 0 of 1 points
The package for new Ultra Strength Ben Gay pain relieving cream promoted a limited time price reduction. The manufacturer of Ben Gay used:
Selected Answer: [None Given]
Correct Answer: trial pricing
Question 10 Multiple Choice 0 of 1 points
The developer of the Bent Creek subdivision charges homeowners a $500 annual fee to be eligible to use its pool, tennis courts, golf course, and other amenities. In addition, the homeowners are charged fees ranging from $1 to $10 every time they make use of one of these amenities. The developer is using:
Selected Answer: [None Given]
Correct Answer: two-part pricing
COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > PRACTICE TESTS > REVIEW ASSESSMENT: PRACTICE TEST 7
Review Assessment: Practice test 7
Name: Practice test 7
Status : Completed
Score: 0 out of 10 points
Time Elapsed: 0 hours, 0 minutes, and 7 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 0 of 1 points
The package for new Ultra Strength Ben Gay pain relieving cream promoted a limited time price reduction. The manufacturer of Ben Gay used:
Selected Answer: [None Given]
Correct Answer: trial pricing
Question 2 Multiple Choice 0 of 1 points
Marvin wants to buy a new rifle. He saw just the one he wanted advertised in the newspaper at a very low price. When he went to buy the gun, the store salesperson told Marvin the sale gun was inferior and would not sell it to him. Then the salesperson proceeded to convince Marvin to buy a rifle that cost much more money than he had intended to spend. Marvin has been victimized by:
Selected Answer: [None Given]
Correct Answer: a bait-and-switch scheme
Question 3 Multiple Choice 0 of 1 points
Which of the following would be an example of a fixed cost for an amusement park?
Selected Answer: [None Given]
Correct Answer: liability insurance
Question 4 Multiple Choice 0 of 1 points
Manufacturers of _____ would be most likely to use freight absorption pricing?
Selected Answer: [None Given]
Correct Answer: laptop computers
Question 5 Multiple Choice 0 of 1 points
Marketers like to use penetration pricing for new products to:
Selected Answer: [None Given]
Correct Answer: discourage competition from entering the market
Question 6 Multiple Choice 0 of 1 points
A _____ allows marketers to identify how many units of a product will have to sell at a given price to be profitable.
Selected Answer: [None Given]
Correct Answer: break-even analysis
Question 7 Multiple Choice 0 of 1 points
Concerns about how the genetics of vegetables are being manipulated by growers has led to increased demand for organic, naturally-grown vegetables and an accompanying price increase for these products. Which external influence on pricing is most evident in this strategy?
Selected Answer: [None Given]
Correct Answer: consumer trends
Question 8 Multiple Choice 0 of 1 points
_____ is a pricing tactic a firm uses when it has two products that work only when used together. The firm sells one item at a very low price and then makes its profit on the second high-margin item.
Selected Answer: [None Given]
Correct Answer: Captive pricing
Question 9 Multiple Choice 0 of 1 points
_____ is the value customers give up or exchange to obtain a desired product.
Selected Answer: [None Given]
Correct Answer: Price
Question 10 Multiple Choice 0 of 1 points
Everyone has seen commercials in which consumers are told that a particular retailer is determined to offer the lowest price and if a lower price can be found, the retailer will match it. Which external influence on pricing is most evident in this type of advertising?
Selected Answer: [None Given]
Correct Answer: the competition
COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > PRACTICE TESTS > REVIEW ASSESSMENT: PRACTICE TEST 7
Review Assessment: Practice test 7
Name: Practice test 7
Status : Completed
Score: 0 out of 10 points
Time Elapsed: 0 hours, 0 minutes, and 4 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 0 of 1 points
A business that uses price lining is:
Selected Answer: [None Given]
Correct Answer: using price points to determine its pricing strategy
Question 2 Multiple Choice 0 of 1 points
For a skimming price to be successful,:
Selected Answer: [None Given]
Correct Answer: there should be little chance that competitors can get into the market quickly
Question 3 Multiple Choice 0 of 1 points
The demand curve:
Selected Answer: [None Given]
Correct Answer: shows the relationship between product demand and product price
Question 4 Multiple Choice 0 of 1 points
A firm is using _____ when it charges a high, premium price for a new product with the intention of reducing the price in the future.
Selected Answer: [None Given]
Correct Answer: a skimming price
Question 5 Multiple Choice 0 of 1 points
Anderson Industries makes weather-proof covers for barbecue grills. Each cover costs $7.00 to produce and is sold to distributors for $15. The company’s fixed costs are $170,000. How many grill covers must it sell to reach a target profit of $30,000?
Selected Answer: [None Given]
Correct Answer: 25,000 covers
Question 6 Multiple Choice 0 of 1 points
Bayer AG agreed to pay $46 million as part of a law settlement for conspiring with Archer-Daniels-Midland (ADM) to keep prices of citric acid at a certain level. These two international companies were guilty of:
Selected Answer: [None Given]
Correct Answer: horizontal price fixing
Question 7 Multiple Choice 0 of 1 points
The price elasticity of demand is calculated by:
Selected Answer: [None Given]
Correct Answer: dividing percentage change in quantity demanded by percentage change in price
Question 8 Multiple Choice 0 of 1 points
_____ means the selling price is based on an estimate of volume or quantity a firm can sell in different markets at different prices.
Selected Answer: [None Given]
Correct Answer: Demand-based pricing
Question 9 Multiple Choice 0 of 1 points
Marketers like to use penetration pricing for new products to:
Selected Answer: [None Given]
Correct Answer: discourage competition from entering the market
Question 10 Multiple Choice 0 of 1 points
A consumer product list price is also referred to as a(n):
Selected Answer: [None Given]
Correct Answer: suggested retail price
COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > PRACTICE TESTS > REVIEW ASSESSMENT: PRACTICE TEST 7
Review Assessment: Practice test 7
Name: Practice test 7
Status : Completed
Score: 0 out of 10 points
Time Elapsed: 0 hours, 0 minutes, and 6 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 0 of 1 points
The package for new Ultra Strength Ben Gay pain relieving cream promoted a limited time price reduction. The manufacturer of Ben Gay used:
Selected Answer: [None Given]
Correct Answer: trial pricing
Question 2 Multiple Choice 0 of 1 points
When demand is inelastic,:
Selected Answer: [None Given]
Correct Answer: price and revenue change in the same direction
Question 3 Multiple Choice 0 of 1 points
After looking at the ads in her Sunday paper, Ruby decided to visit a local nursery and buy potting soil at $1.99 a bag. The regular price is $4.99 a bag. While Ruby was there she also purchased three bushes, six flowering plants, and a bird bath. You can infer from this information that the nursery used the bags of potting soil as:
Selected Answer: [None Given]
Correct Answer: loss leaders
Question 4 Multiple Choice 0 of 1 points
Which of the following is NOT a type of pricing objective?
Selected Answer: [None Given]
Correct Answer: break-even
Question 5 Multiple Choice 0 of 1 points
When operated at capacity, a company that markets silk-screened t-shirts can produce 75,000 shirts a year. Its variable and fixed costs are covered if each shirt is sold for $10. One year, the company found it could only sell 60,000 shirts at $10. To remain at full-production capacity, it decided to sell an additional 15,000 shirts for $8. What pricing method did the silk-screener use?
Selected Answer: [None Given]
Correct Answer: price-floor pricing
Question 6 Multiple Choice 0 of 1 points
Which of the following would be an example of a variable cost for an amusement park?
Selected Answer: [None Given]
Correct Answer: rest room supplies
Question 7 Multiple Choice 0 of 1 points
Which of the following would be an example of a fixed cost for an amusement park?
Selected Answer: [None Given]
Correct Answer: liability insurance
Question 8 Multiple Choice 0 of 1 points
According to the textbook, which of the elements of the marketing mix is probably the least understood and least appreciated?
Selected Answer: [None Given]
Correct Answer: pricing
Question 9 Multiple Choice 0 of 1 points
To determine the break-even point, a firm needs first to:
Selected Answer: [None Given]
Correct Answer: calculate the contribution per unit to fixed costs
Question 10 Multiple Choice 0 of 1 points
When George ordered a DVD player and a set of surround-sound speakers on the Internet, he really felt like he had got a bargain because the seller did not charge him any shipping costs. The Web site where George made his purchase most likely used _____ and included the shipping costs in the base price.
Selected Answer: [None Given]
Correct Answer: freight absorption pricing
COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > PRACTICE TESTS > REVIEW ASSESSMENT: PRACTICE TEST 7
Review Assessment: Practice test 7
Name: Practice test 7
Status : Completed
Score: 0 out of 10 points
Time Elapsed: 0 hours, 0 minutes, and 6 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 0 of 1 points
The most common cost-based approach to pricing is:
Selected Answer: [None Given]
Correct Answer: cost-plus pricing
Question 2 Multiple Choice 0 of 1 points
_____ are the per-unit costs of production that will fluctuate depending on how many units or individual products a firm produces.
Selected Answer: [None Given]
Correct Answer: Variable costs
Question 3 Multiple Choice 0 of 1 points
When demand is ______, increases in price result in increases in total revenues while decreases in price result in decreases in total revenue.
Selected Answer: [None Given]
Correct Answer: inelastic
Question 4 Multiple Choice 0 of 1 points
Profit is maximized at the point at which:
Selected Answer: [None Given]
Correct Answer: marginal cost equals marginal revenue
Question 5 Multiple Choice 0 of 1 points
When demand is inelastic,:
Selected Answer: [None Given]
Correct Answer: price and revenue change in the same direction
Question 6 Multiple Choice 0 of 1 points
Which of the following is a type of pricing objective?
Selected Answer: [None Given]
Correct Answer: sales or market share
Question 7 Multiple Choice 0 of 1 points
Amerfit Nutrition is a leading manufacturer of nutritional supplements. When setting prices, the company decided to institute a pricing strategy that would support a five percent increase in sales over the next three years. What type of pricing objective does Amerfit Nutrition have?
Selected Answer: [None Given]
Correct Answer: sales or market share
Question 8 Multiple Choice 0 of 1 points
Manufacturers of _____ would be most likely to use freight absorption pricing?
Selected Answer: [None Given]
Correct Answer: laptop computers
Question 9 Multiple Choice 0 of 1 points
Have you ever stayed in a resort hotel and tried to buy a soda from one of its vending machines? If you have, you were probably surprised when you had to deposit $1.50 or more to buy one can of soda since you are probably used to paying less. The lower price at which you expect to buy soda is called your:
Selected Answer: [None Given]
Correct Answer: internal reference price
Question 10 Multiple Choice 0 of 1 points
Movie theaters typically have different ticket prices for children, adults, and senior citizens. This is a legal form of:
Selected Answer: [None Given]
Correct Answer: price discrimination
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Posted Wed May 24 2006 02:17 AM
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COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > MINI TESTS > REVIEW ASSESSMENT: MINI TEST 13
Review Assessment: Mini test 13
Name: Mini test 13
Status : Completed
Score: 10 out of 10 points
Time Elapsed: 0 hours, 6 minutes, and 53 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 1 of 1 points
U.S. marketing campaigns that stress the desirability of “Made in America” products are more likely to appeal to _____ consumers.
Selected Answer: ethnocentric
Correct Answer: ethnocentric
Question 2 Multiple Choice 1 of 1 points
When Johnnie Walker entered the European market, its manufacturer wanted an ad that was uniquely European. Its ad agency came up with an ad showed a man running with the bulls at Pamplona (an annual event in Spain) and then celebrating his narrow escape from death by drinking a glass of Johnnie Walker. The ad was a total failure in Germany because the Germans consider such activities stupid and reckless while the Spanish see them as brave and daring. The Johnnie Walker ad would have been more successful if its creators had better understood:
Selected Answer: national character
Correct Answer: national character
Question 3 Multiple Choice 1 of 1 points
The maker of Jell-O gelatin tried to offer the same product in England that is offered in the United States but failed because British consumers do not buy their gelatin in a powder format. To sell in England, the gelatin manufacturer had to use a _____ strategy.
Selected Answer: product adaptation
Correct Answer: product adaptation
Question 4 Multiple Choice 1 of 1 points
Some countries outlaw _____, a practice in which a company prices its products lower than they are priced at home.
Selected Answer: dumping
Correct Answer: dumping
Question 5 Multiple Choice 1 of 1 points
In some situations, internal pressures prompt governments to take over the operations of foreign companies doing business within their national borders. This process is called _____ when the domestic government reimburses a foreign company for its assets after the takeover.
Selected Answer: nationalization
Correct Answer: nationalization
Question 6 Multiple Choice 1 of 1 points
Which of the following products would be the WORST candidate for distribution over the internet?
Selected Answer: Autographed baseballs.
Correct Answer: Autographed baseballs.
Question 7 Multiple Choice 1 of 1 points
In class, we discussed a number of characteristics of the internet. Which of the following is a consequence of the computer-mediated characteristic?
Selected Answer: The computer allows a customer to consider a larger number of options while going through the purchase process.
Correct Answer: The computer allows a customer to consider a larger number of options while going through the purchase process.
Question 8 Multiple Choice 1 of 1 points
Kyrgyzstan is a past member of the Soviet Union. It is a small, poor, mountainous country with a predominantly agricultural economy. Cotton, wool, and meat are the main agricultural products and exports. Fifty-one percent of the population live in poverty. Kyrgyzstan is an example of a(n):
Selected Answer: less developed country (LDC)
Correct Answer: less developed country (LDC)
Question 9 Multiple Choice 1 of 1 points
In class, we discussed a number of characteristics of the internet. Which of the following is an issue associated with the internet culture characteristic?
Selected Answer: There is an expectation that customers will find something of value for free when they visit your website.
Correct Answer: There is an expectation that customers will find something of value for free when they visit your website.
Question 10 Multiple Choice 1 of 1 points
According to your instructor, what will be the critical event that will take us into phase three (innovative uses) of the diffusion of internet technology?
Selected Answer: When the younger generation, who never knew a world without the internet, enter the workforce.
Correct Answer: When the younger generation, who never knew a world without the internet, enter the workforce.
COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > MINI TESTS > REVIEW ASSESSMENT: MINI TEST 13
Review Assessment: Mini test 13
Name: Mini test 13
Status : Completed
Score: 6 out of 10 points
Time Elapsed: 0 hours, 9 minutes, and 23 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 1 of 1 points
Krispy Kreme Doughnuts is a popular doughnut chain. When it opened Krispy Kreme outlets in Canada, it used the same marketing mix that has proven successful in the United States where the company began. Krispy Kreme has chosen a to use _____ in its global marketing strategy.
Selected Answer: standardization
Correct Answer: standardization
Question 2 Multiple Choice 1 of 1 points
Expropriation occurs when:
Selected Answer: a government takes over foreign operations and provides the seized operation with no reimbursements
Correct Answer: a government takes over foreign operations and provides the seized operation with no reimbursements
Question 3 Multiple Choice 1 of 1 points
According to your instructor, which of these technologies do you have to understand to succeed in marketing today?
Selected Answer: WWW (World wide web)
Correct Answer: WWW (World wide web)
Question 4 Multiple Choice 1 of 1 points
Why did your instructor make such a big deal about the opportunity that the internet represents?
Selected Answer: Because the practice of marketing is driven by technological change and the internet is rapidly changing.
Correct Answer: Because the practice of marketing is driven by technological change and the internet is rapidly changing.
Question 5 Multiple Choice 0 of 1 points
Kyrgyzstan is a past member of the Soviet Union. It is a small, poor, mountainous country with a predominantly agricultural economy. Cotton, wool, and meat are the main agricultural products and exports. Fifty-one percent of the population live in poverty. Kyrgyzstan is an example of a(n):
Selected Answer: developed country
Correct Answer: less developed country (LDC)
Question 6 Multiple Choice 0 of 1 points
In many cultures, the act of adultery is a(n) _____, and a person found guilty of adultery can be either ostracized or in some cases executed.
Selected Answer: accultural edict
Correct Answer: more
Question 7 Multiple Choice 1 of 1 points
In class, we discussed a number of characteristics of the internet. Which of the following is an issue associated with the global presence characteristic?
Selected Answer: The World Wide Web has no geographic boundaries.
Correct Answer: The World Wide Web has no geographic boundaries.
Question 8 Multiple Choice 0 of 1 points
In class, we discussed a number of characteristics of the internet. Which of the following is a consequence of the internet culture characteristic?
Selected Answer: Customers will not pay for content on the web.
Correct Answer: Customers are reluctant to pay for content available on the web.
Question 9 Multiple Choice 0 of 1 points
Which of the following products would be the WORST candidate for distribution over the internet?
Selected Answer: Software.
Correct Answer: Autographed baseballs.
Question 10 Multiple Choice 1 of 1 points
The Japanese who give currency as gifts will typically wash the money before making the presentation. This is a(n) _____ with a nation of people who place high importance on cleanliness.
Selected Answer: convention
Correct Answer: convention
COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > PRACTICE TESTS > REVIEW ASSESSMENT: PRACTICE TEST 1
Review Assessment: Practice Test 1
Name: Practice Test 1
Status : Completed
Score: 8 out of 10 points
Time Elapsed: 0 hours, 3 minutes, and 48 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 1 of 1 points
The impact of game shows like Who Wants to Be a Millionaire and The Weakest Link on society reflect how _____ can influence what we consume.
Selected Answer: popular culture
Correct Answer: popular culture
Question 2 Multiple Choice 1 of 1 points
Companies that have a _____ orientation tend to be more successful at making one-time sales than they are at building repeat business.
Selected Answer: selling
Correct Answer: selling
Question 3 Multiple Choice 1 of 1 points
Why is it important to understand consumer behavior?
Selected Answer: Because purchasing is problem solving and understanding how people solve problems will help us in our lives.
Correct Answer: Because purchasing is problem solving and understanding how people solve problems will help us in our lives.
Question 4 Multiple Choice 1 of 1 points
The mother didn’t want to have a climbing wall as a permanent feature in her backyard, but it was certainly convenient to rent one from the company that catered her twelve-year-old son’s birthday party. The catering company created both _____ utility when it rented her the climbing wall.
Selected Answer: place and possession
Correct Answer: place and possession
Question 5 Multiple Choice 1 of 1 points
It appeared to the middle school teacher that she could never obtain the art supplies, craft materials, and science experiments she wanted to use with her class. Then she discovered a retail store called The Schoolbox, which allowed her to use and enjoy all the school-related supplies she wanted. The Schoolbox created _____ utility.
Selected Answer: possession
Correct Answer: possession
Question 6 Multiple Choice 1 of 1 points
According to your instructor, what is the difference between marketing and sales
Selected Answer: Sales focuses on creating transactions, marketing focuses on making it possible for transactions to happen.
Correct Answer: Sales focuses on creating transactions, marketing focuses on making it possible for transactions to happen.
Question 7 Multiple Choice 0 of 1 points
Mike likes to bicycle ride and believes in drinking plenty of water while he is riding. Unlike his friends he believes he should not pay more than five dollars for a hydration system because he does not want to have to be concerned if it gets broken or lost. Mike uses this rule of _______________ when buying his hydration system (a water bottle that attaches to his bike).
Selected Answer: buying plan
Correct Answer: heuristic
Question 8 Multiple Choice 0 of 1 points
It wasn’t until three days before Christmas that Josh found the perfect gift for his girlfriend. He ordered the gift from a catalog retailer, and the gift arrived safely at Josh’s apartment on Christmas Eve. The catalog retailer created _____ utility.
Selected Answer: possession
Correct Answer: place
Question 9 Multiple Choice 1 of 1 points
Which of the following is an example of a not-for-profit organization that would use marketing principles?
Selected Answer: all of the above
Correct Answer: all of the above
Question 10 Multiple Choice 1 of 1 points
Why do marketers sometimes use intrusive ads, such as interrupting a television program in order to promote a product you’ve never heard of?
Selected Answer: In order to increase the chances that the product is in your “awareness” set if you recognize a need for the product in the future.
Correct Answer: In order to increase the chances that the product is in your “awareness” set if you recognize a need for the product in the future.
COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > PRACTICE TESTS > REVIEW ASSESSMENT: PRACTICE TEST 2
Review Assessment: Practice test 2
Name: Practice test 2
Status : Completed
Score: 3 out of 10 points
Time Elapsed: 0 hours, 4 minutes, and 8 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 1 of 1 points
eBags is a Denver-based manufacturer of luggage, handbags, backpacks, and duffel bags. While much of the company’s business is done over the Internet, it discovered it was missing many sales to customers who prefer to deal with an individual operator. Instead of hiring its own telephone agents to work weekends, off-hours, and peak-call periods, eBags hired Finali Corp, a teleservices company, to take all of its phone orders from customers and to answer commonly asked customer questions. eBags used:
Selected Answer: outsourcing
Correct Answer: outsourcing
Question 2 Multiple Choice 1 of 1 points
After a patient of Dr. Brown told the dentist he needed to buy a machine that would sterilize his dental tools without using any water, which tends to cause the tools to rust or corrode over time, the dentist, who runs a solo practice in a small rural town, located some articles on the chemical sterilizer and read about how the machine works. After gathering more information and talking to salespeople, Dr. Brown placed his order for the machine. In terms of the buying center, Dr. Brown had the role of:
Selected Answer: decider
Correct Answer: decider
Question 3 Multiple Choice 0 of 1 points
A person’s attitude has three components. They are:
Selected Answer: psychological, physiological, and situational
Correct Answer: affect, cognition, and behavior
Question 4 Multiple Choice 1 of 1 points
Most newspapers such as the “New York Times” and the “Memphis Commercial-Appeal” rely on _____ and use several different suppliers to provide the tons of paper that they use annually.
Selected Answer: multiple sourcing
Correct Answer: multiple sourcing
Question 5 Multiple Choice 0 of 1 points
Worthington Farm raises chickens. For years, it has used wooden coops for hauling its poultry to market. The owner of the farm needs to buy some replacement coops and is considering buying plastic coops, which are slightly more expensive than wooden ones but much easier to clean after use. This purchase of coops is an example of a:
Selected Answer: utility buy
Correct Answer: modified rebuy
Question 6 Multiple Choice 0 of 1 points
When the city of New Orleans decided to build a $110 million stadium to hold 19,000 people, it was a difficult decision because New Orleans already had the Superdome. City planners convinced the people of New Orleans that the older 70,000-seat Superdome was too large for most touring shows and better suited for sporting events. In terms of the buy class framework, the decision to build an arena for touring shows featuring big name stars was a:
Selected Answer: [None Given]
Correct Answer: new-task buy
Question 7 Multiple Choice 0 of 1 points
Professional buyers are responsible for:
Selected Answer: [None Given]
Correct Answer: all of the above
Question 8 Multiple Choice 0 of 1 points
_______________ is the process by which people select, organize, and interpret information from the outside world.
Selected Answer: [None Given]
Correct Answer: Perception
Question 9 Multiple Choice 0 of 1 points
The ad for the San Francisco State University MBA program said, “Reach your full potential in the business world with an Executive MBA from SFSU.” The program indicates that it satisfies which of Maslow’s needs?
Selected Answer: [None Given]
Correct Answer: self-actualization needs
Question 10 Multiple Choice 0 of 1 points
Connors Bros., a Maritime seafood products manufacturer, hopes to attract Ontario consumers for its Brunswick sardines through a campaign pushing the small fish as a positive food choice. In the campaign, Conner encouraged consumers to buy more sardines. If consumers purchased more sardines, then supermarkets would stock more sardines, thus creating _____ for the small fish.
Selected Answer: [None Given]
Correct Answer: derived demand
COURSES > MKTG 0431-01 PRINCIPLES OF MARKETING SPRING 2006 > TESTS > PRACTICE TESTS > REVIEW ASSESSMENT: PRACTICE TEST 2
Review Assessment: Practice test 2
Name: Practice test 2
Status : Completed
Score: 0 out of 10 points
Time Elapsed: 0 hours, 0 minutes, and 5 seconds out of 0 hours and 10 minutes allowed.
Instructions:
Question 1 Multiple Choice 0 of 1 points
According to the instructor, why is the business market so much larger than the consumer market.
Selected Answer: [None Given]
Correct Answer: Because each consumer purchase may represent several intermediary business to business transactions.
Question 2 Multiple Choice 0 of 1 points
Juana looked at her September issue of “Rosie” magazine and did not see anything of interest. After her mother was diagnosed with bipolar disorder, she found the issue extremely interesting because it offered advice on how to help people who are suffering from this problem. The fact the boring issue became quite interesting is due to:
Selected Answer: [None Given]
Correct Answer: selective perception
Question 3 Multiple Choice 0 of 1 points
When a dentist’s office manager orders latex gloves, disposable masks, file folders, and complementary toothbrushes to give to patients, he or she is most likely making a:
Selected Answer: [None Given]
Correct Answer: straight rebuy
Question 4 Multiple Choice 0 of 1 points
The group of people in the organization who participate in the purchase decision-making process is referred to as the:
Selected Answer: [None Given]
Correct Answer: buying center
Question 5 Multiple Choice 0 of 1 points
Learning is:
Selected Answer: [None Given]
Correct Answer: a change in behavior caused by information or experience
Question 6 Multiple Choice 0 of 1 points
A reference group:
Selected Answer: [None Given]
Correct Answer: is a set of people a consumer wants to please or imitate
Question 7 Multiple Choice 0 of 1 points
In terms of organizational markets, Ford Motor Company, Anheuser-Busch, and Kraft are all examples of:
Selected Answer: [None Given]
Correct Answer: producers
Question 8 Multiple Choice 0 of 1 points
_______________ is at work when a person changes as a reaction to real or imagined group pressure.
Selected Answer: [None Given]
Correct Answer: Conformity
Question 9 Multiple Choice 0 of 1 points
When the city of New Orleans decided to build a $110 million stadium to hold 19,000 people, it was a difficult decision because New Orleans already had the Superdome. City planners convinced the people of New Orleans that the older 70,000-seat Superdome was too large for most touring shows and better suited for sporting events. In terms of the buy class framework, the decision to build an arena for touring shows featuring big name stars was a:
Selected Answer: [None Given]
Correct Answer: new-task buy
Question 10 Multiple Choice 0 of 1 points
It’s Just Lunch is a dating service for busy professionals that brings two people together in a low-pressure lunch setting and gives them a ch
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