Question 1 of 40

5.0 Points

What is the term for the type of competition based on buyers' perceptions of the benefits of products offered by particular companies?

 A. institutional competition

 B. monopolistic competition

 C. forced competition

 D. brand competition

Question 2 of 40

5.0 Points

Which of the following is involved in the final stage in the buyer decision process?

 A. After the buyer has purchased the product, the marketer asks for feedback on the quality of the product.

 B. After the buyer has purchased the product, the marketer promotes more advanced versions of the product.

 C. After the buyer has purchased the product, the marketer provides customer assistance for use of the product.

 D. After the buyer has purchased the product, the marketer reminds the buyer that he or she made a wise purchase.

Question 3 of 40

5.0 Points

Which of the following terms refers to the monetary amount added to a product's cost to the seller in order to sell it at a target profit?

 A. profit margin

 B. breakeven cost

 C. revenue

 D. markup

Question 4 of 40

5.0 Points

Which of the following refers to the combination of channels that a firm selects to get a product to end users?

 A. distribution mix

 B. transportation strategy

 C. merchandising system

 D. marketing plan

Question 5 of 40

5.0 Points

What is the term for a detailed strategy for focusing marketing efforts on consumers' needs and wants?

 A. marketing mix

 B. marketing manager

 C. product differentiation

 D. marketing plan

Question 6 of 40

5.0 Points

Which of the following costs refers specifically to those that change with the quantity of a product sold or produced?

 A. annual costs

 B. variable costs

 C. fixed costs

 D. marginal costs

Question 7 of 40

5.0 Points

Which of the following pricing strategies has stimulation of sales as a higher priority than maximization of profits?

 A. price fixing

 B. price discounting

 C. price skimming

 D. price pointing

Question 8 of 40

5.0 Points

Which of the following identifies products that are dissimilar from those of competitors but can fulfill the same need?

 A. brand competition

 B. international competition

 C. the marketing mix

 D. substitute products

Question 9 of 40

5.0 Points

What is the decision process by which customers come to purchase consumer products?

 A. marketing

 B. segmentation

 C. resource management

 D. consumer behavior

Question 10 of 40

5.0 Points

What is the term that encompasses a good, a service, or an idea designed to fill a consumer need?

 A. product

 B. firm

 C. want

 D. utility

Question 11 of 40

5.0 Points

What type of marketing do insurance companies, airlines, investment counselors, health clinics, and public accountants typically engage in?

 A. personal selling

 B. service marketing

 C. industrial selling

 D. consumer marketing

Question 12 of 40

5.0 Points

What part of the marketing mix includes communicating information about products?  

 A. product

 B. promotion

 C. price

 D. place

Question 13 of 40

5.0 Points

Odd-even pricing falls under the category of which of the following?  

 A. price fixing

 B. psychological pricing

 C. market pricing

 D. price lining

Question 14 of 40

5.0 Points

Which of the following intermediaries matches numerous sellers and buyers as needed, often without knowing in advance who they will be?

 A. producer representative

 B. retailer

 C. syndicated seller

 D. broker

Question 15 of 40

5.0 Points

What is the term for the process of creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders?

 A. financial planning

 B. controlling

 C. operations management

 D. marketing

Question 16 of 40

5.0 Points

Burberry is repositioning itself as a global luxury brand, such as Gucci and Louis Vuitton, and calls for luring a different type of customer. This is an example of what type of market segmentation?  

 A. geographic

 B. demographic

 C. psychographic

 D. product-use

Question 17 of 40

5.0 Points

What do marketers call groups of people with similar wants and needs?

 A. price points

 B. target markets

 C. distribution points

 D. target points

Question 18 of 40

5.0 Points

Phillip is an independent intermediary who deals in the local produce market of northeast Ohio. Over the years, he has formed long-term relationships and come to represent several farmers in the area in the sale of their produce to local grocery stores. Which of the following titles best describes Phillip's role in the distribution mix of northeast Ohio produce?

 A. wholesaler

 B. retailer

 C. sales agent

 D. broker

Question 19 of 40

5.0 Points

Which of the following least describes the purpose of point-of-sale displays?

 A. to inform customers about the benefits of the products

 B. to entice customers to buy additional products

 C. to make it easier for customers to find products

 D. to promote the reputation of the company offering certain products

Question 20 of 40

5.0 Points

What is the term for intangible products, such as time, expertise, or an activity that can be purchased?

 A. industrial goods

 B. personal goods

 C. risky assets

 D. services

Question 21 of 40

5.0 Points

What is the name of the application used for searching, sifting, and reorganizing pools of data to uncover useful information?  

 A. data warehousing

 B. data access

 C. data tapping

 D. data mining

Question 22 of 40

5.0 Points

What system allows outsiders limited access to a firm's internal information systems?

 A. intranets

 B. firewalls

 C. extranets

 D. directories

Question 23 of 40

5.0 Points

What feature allows people in remote locations to work simultaneously on one document?

 A. videoconferencing

 B. voice mail

 C. dataconferencing

 D. digital information service

Question 24 of 40

5.0 Points

Which type of communication technology is attractive to businesses because it eliminates travel expenses?

 A. VSAT Satellite Communications

 B. extranets

 C. intranets

 D. electronic conferencing

Question 25 of 40

5.0 Points

Which type of system is designed for smooth production flow to avoid inefficiencies, eliminate unnecessary inventories, and continuously improve production processes?

 A. quality system

 B. lean system

 C. managed system

 D. production system

Question 26 of 40

5.0 Points

Which cybercriminal activity refers to the act of luring Internet users to bogus Web sites?

 A. computer virus distribution

 B. spamming

 C. phishing

 D. Trojan horse distribution

Question 27 of 40

5.0 Points

When Dell Inc. shares information to improve the overall flow through a system composed of companies working together, it is engaging in which of the following?

 A. distribution chain management

 B. total quality management

 C. supply chain management

 D. service channel analysis

Question 28 of 40

5.0 Points

Which of the following is another term for the supply chain?

 A. the distribution chain

 B. the distribution network

 C. the value chain

 D. the supply network

Question 29 of 40

5.0 Points

What is a drawback for purchasing any of dozens of anti-spyware products?  

 A. They are often prohibitively expensive.

 B. They require continual updates.

 C. They are difficult to install.

 D. They often don’t work.

Question 30 of 40

5.0 Points

Which of the following best describes supply chain management?

 A. The principle of improving the supply chain by focusing on the slowest step in the chain.

 B. A limitation on the number of suppliers allowed to supply a particular company.

 C. The complete movement of raw materials throughout a manufacturing or service facility.

 D. The principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

Question 31 of 40

5.0 Points

What type of network links computers and workstations, usually within one building?

 A. satellite communication

 B. global positioning

 C. personal digital

 D. local area

Question 32 of 40

5.0 Points

Which of the following BEST describes enterprise resource planning?  

 A. an information processing application for routine business activities of a company's business units

 B. an information system for organizing and managing a firm's activities across product lines, departments, and geographic locations

 C. a system used for transforming data into information for use in decision making

 D. a computer-based electronic technology that assists in designing products by simulating a real product and displaying it in three-dimensional graphics

Question 33 of 40

5.0 Points

What name is given to the process by which a company analyzes another company's product to identify desirable improvements in its own product?

 A. quality reliability analysis

 B. benchmarking

 C. performance quality analysis

 D. competitive product analysis

Question 34 of 40

5.0 Points

Which of the following best describes business process reengineering?

 A. The redesigning of business activities to improve performance, quality, and productivity.

 B. A program certifying that a factory, laboratory, or office has met the quality management standards of the International Organization for Standardization.

 C. The principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

 D. A program certifying that a factory, laboratory, or office has developed pollution-control standards.

Question 35 of 40

5.0 Points

Which term refers to the flow of information, materials, and services from raw-materials suppliers through stages in the operations process until the product reaches the end customer?

 A. distribution chain

 B. supply chain

 C. service channel

 D. distribution channel

Question 36 of 40

5.0 Points

In a __________ system, the customer is part of the system during service delivery.

 A. high-contact

 B. low-contact

 C. customer

 D. quality

Question 37 of 40

5.0 Points

Who is the person who is in charge of operating systems for gathering, organizing, and distributing information?

 A. production manager

 B. operations manager

 C. information systems manager

 D. research and development manager

Question 38 of 40

5.0 Points

What is the name of software and hardware that prevent hackers from accessing a company's internal network?

 A. partition

 B. firewall

 C. extranet

 D. index

Question 39 of 40

5.0 Points

Which of the following best describes ISO 9000?  

 A. The concept that all employees are valuable contributors to a firm's business and should be entrusted with decisions regarding their work.

 B. The redesigning of business processes to improve performance, quality, and productivity.

 C. A program certifying that a factory, laboratory, or office has met the quality management standards of the International Organization for Standardization.

 D. A certification program attesting to the fact that a factory, laboratory, or office has improved environmental performance.

Question 40 of 40

5.0 Points

Which of the following terms refers to all activities involved in getting quality products into the marketplace?

 A. quality control

 B. quality reliability

 C. total quality management

 D. performance quality