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PlayBall, a manufacturer of gaming consoles, announces the release of its new device. Karen, wanting to be one of the first to own the new gaming console, stands in a queue for over five hours on the day of its release. Even though disappointed that the product sold out before her turn arrived, Karen returned at 2 A.M the next day and was the first person in line. In this scenario, Karen is one among the _____.

A.

early adopters

B.

innovators

C.

early majority

D.

late majority

E.

laggards

What is the advantage of manufacturer brands?

A.

Manufacturers do not have to create or control marketing strategies.

B.

Manufacturer brands do not require extensive use of marketing programs.

C.

Manufacturer brands ensure consistent quality of products.

D.

Manufacturer brands are marketed by retailers who ensure a wider reach.

E.

Manufacturer brands are cheaper than store brands.

Companies are legally required to

A.

conceal consumers' addresses and phone numbers when they share information.

B.

share information only with the sales department for follow-up.

C.

disclose their privacy practices to customers on an annual basis.

D.

refer to the company's code of ethics to determine what information can be released.

E.

obtain consumer information only through secondary sources.

Which of the following is part of the final step in the ethical decision-making process?

A.

Establishing the advantages and disadvantages of alternative solutions

B.

Identifying the various stakeholders who will be affected by the solution

C.

Identifying the one-off stakeholder who will be affected by the solution

D.

Developing a firm understanding of the real issue at hand

E.

Interacting with stakeholders to generate possible solutions

Ryan, an insurance salesperson, sells an insurance policy covering hurricane damage to Sean. However, as instructed by his company, Ryan fails to tell Sean that the policy does not include water damage caused by hurricane flooding. In this scenario,

A.

only the insurance company can be held accountable for fraudulent sales.

B.

only Ryan can be held accountable for fraudulent sale.

C.

no one can be held accountable as the buyer must read the document carefully before buying.

D.

both the insurance company and the salesman can be held accountable.

E.

Ryan can be held accountable only if water damage actually happens.

Which of the following is the first step in planning and executing an advertising campaign?

A.

Creating advertisement

B.

Conveying the message

C.

Evaluating and selecting media

D.

Determine the budget

E.

Identifying the target audience

Mars Clothing offers a ""buy one, get one free"" offer on select clothing items and a 20 percent discount on all perfumes. These type of offers are known as a(n)

A.

premiums

B.

samplings

C.

coupons

D.

deals

E.

sweepstakes

The planning phase of the marketing plan involves

A.

defining the mission and vision for the business.

B.

evaluating different opportunities by engaging in segmentation, targeting, and positioning.

C.

executing the marketing mix using the four Ps.

D.

taking any necessary corrective actions to correct deviations from the plan.

E.

evaluating the performance of the marketing strategy using marketing metrics.

Resolve surveys 20,000 households that own a TV. The results of this survey indicate that an advertisement for a retail store was watched 360,000 times during a period of three days. The same advertisement was watched at least once by 30,000 people. What is the average frequency of the advertisement?

A.

30,000

B.

360,000

C.

12

D.

10,000

E.

1.5

In Ravonia, the telecom sector is dominated by four major service providers: Flank, Zelno, Tuhaz, and Klock. The service providers determine call rates and broadband rates using a collective strategy. They maintain uniform pricing and compete mainly on quality and service. Flank, Zelno, Tuhaz, and Klock are using a _____ strategy.

A.

deceptive reference pricing

B.

bait-and-switch

C.

horizontal price fixing

D.

manufacturer ’s suggested retail pricing

E.

price discrimination