Answer the following questions by choosing the BEST answer. Place the letter corresponding to your choice in the space beside the question numbers on the Answer Sheet. 1. The basic reason marketing research is done is because: a. Interesting data may be found b. The desire to provide basic knowledge c. The need for managers to make a decision d. Research is always needed 2. If a manager begins a research project by asking “ What would the data need to look like for me to make this decision?” they would be engaging in: a. Traditional marketing research b. Backward marketing research c. Knowledge based research d. Qualitative research. 3. What the text quotes as a “tidal wave of brand democratization” has led to the need for marketers to rethink how they communicate with markets to spread brand information. What has been the driving forces behind this revolution? a. The Internet b. Digital technologies c. Reality TV programming d. All of the above are contributing factors 4. When FedEx first came on the scene, it offered a whole new way for both businesses and later consumers to quickly and economically ship small packages. It, in essence, launched a new industry. Which of these best describes FedEx at that time? a. It followed a Blue Ocean strategy b. It followed a Red Ocean strategy c. It followed a Differentiation strategy d. It followed a Low-Cost strategy 5. At the intersection of Main Street and Palm Drive there are three service stations. When one lowers price the other two follow suit. If one advertises a low price on soft drinks so do the others. What kind of situation describes these three competitors? a. All follow a Blue Ocean strategy b. All follow a Red Ocean strategy c. All follow a Differentiation strategy d. All follow a Low-Cost strategy 6. Apple is known for introducing user friendly electronic devices to the market. Their iPod, iPad and iPhones are all examples. Although Apple did not invent any of those products, they provided designs and features that took those products to make Apple the market leader in each category. Apple would be an example of a: a. Market Follower b. Market Challenger c. Market Driven company d. Market Driving company 7. All companies face competition in the marketplace even if only indirect. Which of the following statements is true? a. Once a company becomes a market driver, they will always be a driver b. Once a company becomes market driven, they will always be market driven c. A company may shift between being driven and being a market drives d. All of the above are true 8. Crowd sourcing is an activity where a firm might turn to others – such as consumers – to suggest ideas. Frito-Lay, for instance, has been conducting contests for budding film makers to submit commercials for Doritos. One or two of these are selected for debut in the Super Bowl. Which best describes Frito-Lay’s approach to customers? a. Resist b. Enable c. D.

1. Answer the following questions by choosing the
BEST
answer.
Place the letter corresponding to your choice in the space beside
the question numbers on the Answer Sheet.
1.
The basic reason marketing research is done is because:
a.
Interesting data may be found
b.
The desire to provide basic knowledge
c.
The need for managers to make a decision
d.
Research is always needed
2.
If a manager begins a research project by asking
“
What would the data need to look like for me to make this
decision?” they would be engaging in:
a.
Traditional marketing research
b.

2. Backward marketing research
c.
Knowledge based research
d.
Qualitative research.
3.
What the text quotes as
a “tidal wave of brand democratization” has led to the need for
marketers to rethink how they communicate with markets to
spread brand information.
What has been the driving forces behind this revolution?
a.
The Internet
b.
Digital technologies
c.
Reality TV programming
d.
All of the above are contributing factors
4.
When FedEx first came on the scene, it offered a whole new
way for both businesses and later consumers to quickly and
economically ship small packages.
It, in essence, launched a new industry.

3. Which of these best describes FedEx at that time?
a.
It followed a Blue Ocean strategy
b.
It followed a Red Ocean strategy
c.
It followed a Differentiation
strategy
d.
It followed a Low-Cost strategy
5.
At the intersection of Main Street and Palm Drive there are
three service stations.
When one lowers price the other two follow suit.
If one advertises a low price on soft drinks so do the others.
What kind of situation describes these three competitors?
a.
All follow a Blue Ocean strategy
b.
All follow a Red Ocean strategy
c.
All follow a Differentiation

4. strategy
d.
All follow a Low-Cost strategy
6.
Apple is known for introducing user friendly electronic devices
to the market.
Their iPod, iPad and iPhones are all examples.
Although Apple did not invent any of those products, they
provided designs and features that took those products to make
Apple the market leader in each category.
Apple would be an example of a:
a.
Market Follower
b.
Market Challenger
c.
Market Driven company
d.
Market Driving company
7.
All companies face competition in the marketplace even if only
indirect.

5. Which of the following statements is true?
a.
Once a company becomes a market driver, they will always be a
driver
b.
Once a company becomes market driven, they will always be
market driven
c.
A company may shift between being driven and being a market
drives
d.
All of the above are true
8.
Crowd sourcing is an activity where a firm might turn to others
– such as consumers – to suggest ideas.
Frito-Lay, for instance, has been conducting contests for
budding film makers to submit commercials for Doritos.
One or two of these are selected for debut in the Super Bowl.
Which best describes Frito-Lay’s approach to customers?
a.
Resist
b.
Enable
c.

6. Discourage
d.
Encourage
9.
More companies are using ethnography.
In ethnographical studies, a researcher observes behavior in its
“natural environment.”
For example, a cookware company went to people’s homes and
observed them making dinner for their families.
Based on this feedback, the company designed a new line of
cookware that fit the needs of the consumer.
Which category would best describe the cookware company eith
regard to consumers?
a.
Follower
b.
Shaper
c.
Interact
d.
Isolate
10.

7. Wal-Mart has built arguably the most efficient distribution
system in the retailing world.
Through the employment of various initiatives, such as Vendor
Managed Inventory, RFID and distribution center layouts with
cross-docking.
The low cost (relative to other retailers) distribution system
would best be called a:
a.
Business model
b.
Core Competency
c.
A differentiation strategy
d.
A positioning strategy
11.
The chief marketing officer at Harley-Davidson Motorcycles
once said that Harley riders
are
the brand.
In this case, Harley’s brand =:
a.
Identity
b.
Trustmark

8. c.
Experience
d.
Story
12.
Speaking of Harley-Davidson, rider groups (called HOGS)
actively recruit people to become members and encourage them
to ride Harleys.
HOG members become, for Harley-Davidson:
a.
Brand knowledge experts
b.
Brand evangelists
c.
Brand identifiers
d.
Brand fantasizers
13.
Traditional bookstores are dwindling in number.
Part of this is due to the increased use of e-books where people
may download and read books from virtual companies such as
Amazon (Kindle) or Barnes & Noble (Nook).
The disappearance of the traditional bookstore is an example of:

9. a.
Disinternment
b.
Obsolescence
c.
Disinterest
d.
Disintermediation
14.
Technology has disrupted distribution channels through:
a.
The death of distance
b.
Homogenization of time
c.
Irrelevance of location
d.
All of the above
15.
A sales organization that moves quickly in recognizing
opportunity and acting on it would be a(n) __________ sales

10. force:
a.
Expeditionary
b.
Creative
c.
Strategic
d.
Collaborative
16.
Frances Greene is the sales manager of a medium sized
company.
She is committed to the idea that the sales force is more than a
group of individuals who sell products to existing and potential
customers,
She believes that the sales force is instrumental is ensuring that
the company achieve its objectives and can help guide the
company’s direction.
Frances thinks of the sales force as one that is ____________ in
nature:
a.
Expeditionary
b.
Creative
c.

11. Strategic
d.
Collaborative
17.
The text authors suggest that sales people should see themselves
as:
a.
Salespeople
b.
Entrepreneurs
c.
Customer driven
d.
Technical experts
18.
Brand loyalty means not just buying the same product or
shopping at the same store, it also involves a __________
component:
a.
Perceptual
b.
Psychographical
c.
Motivational

12. d.
Attitudinal
19.
The total amount a customer will spend on a given product
category over a strategically meaningful time period is called:
a.
Customer Lifetime Value
b.
Customer Worthiness
c.
Customer Equity
d.
Customer Profitability Analysis
20.
Starbuck’s
initiatives include purchasing 100 percent of all coffee through
ethical sourcing practices (Fair Trade) and investing in a better
future for farmers and their communities by nearly doubling
funding to organizations that provide farmer loans
.
This
mostly
reflects:
a.
Moral idealism

13. b.
Utilitarianism
c.
Social responsibility
d.
Business culture