e.having low prices
2.Which of the following statements about pricing is true?
aPricing is the least important marketing mix element during a recession. bConsumers rate ‘reasonable price’ as the most important consideration in purchase decisions. cPricing is unaffected by changes in the business cycle.
dMost consumers believe price has little influence on their purchase decisions. eall of the above
3.According to the law of demand __________.
a.if prices decrease, customers will buy more
b.customers are oblivious to price changes
c.it cannot be predicted how changes in price will affect demand d.demand equals supply
e.if prices increase, customers will buy more
4. Which of the following statements about global marketing is not true? a.The greater the risk, the greater the reward.
b.Wrong decisions in the global marketplace can be disastrous. c.Competition comes from foreign firms only.
d.Differences in national laws often require variations in marketing plans. e.Differences in customs and consumer preferences often require variations in marketing plans.
5.The __________ encompasses components external to the firm itself, including all activities that are necessary to convert raw materials into a good or service and put it in the hands of the consumer or business customer. a.supply chain
c.channel of distribution
6.According to the goods/services continuum, which of the following is the best example of a pure service provider? a.a furniture retailer
b.a magazine publisher
c.a building contractor
d.a paper manufacturer
e.a massage therapist
7.A __________ delivers a benefit when it satisfies a __________. a.product; demand
d.product; need or want
8.Which of the following would be an example of a variable cost for an amusement park? a.park manager’s salary
b.concession supplies such as soft drinks
d.interest on loans
e.all of the above
9.Which of the following product offerings would be most likely described as intangible? a.tropical fish for an aquarium
b.refillable ink cartridges for a computer printer
c.a Billabong hoodie
d.a meal from a fast-food restaurant
e.a physical examination by a doctor
10.__________ is the creation of an ongoing relationship with a set of customers with an identifiable interest in a product and whose responses to promotional efforts become part of the ongoing communication process. a.Transformational selling
11To determine the break-even point, a firm needs first to __________. a.determine what percentage of the market it desires
b.determine the point at which supply equals demand
c.calculate the contribution per unit to fixed costs
d.conduct an environmental audit
e.determine total market share
12.The __________ encompasses all the activities a firm does to create products and services that in turn create value for the consumer and make a profit for the company. a.goods supplying chain
c.channel of distribution
13. Which of the following statements about database marketing is true? a.Database marketing is synonymous with transactional marketing. b.Database marketing creates one-way communication.
c.Database marketing is measurable.
d.Database marketing makes cross-selling unnecessary.
e.Only qualitative measures can be used to determine the effectiveness of database marketing.
14.Service __________ means that a service can only take place at the time the service provider performs it on either the customer or the customer’s...