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Lumos Lighting, a company that offers lighting solutions for office spaces, has adopted the AMA Statement of Ethics, although not in its entirety. It does not recognize the value of citizenship as an ethical requirement. Which of the following is Lumos Lighting least likely to do?

A.

Apologize to a customer for a faulty product.

B.

Invest in a new manufacturing facility to generate more jobs.

C.

Institute an employee rewards program.

D.

Donate money to a nonprofit involved in developing sustainable living methods.

E.

Create a communication channel for customers to lodge complaints.

Which of the following is true of the standardized marketing approach?

A.

It is losing its relevance in an increasingly globalized marketplace.

B.

It is not profitable to maintain a standard product across increasingly diverse cultures.

C.

It can work well for some, but not all products.

D.

It is very expensive in terms of advertising and other marketing costs.

E.

It does not work well for multi-functional products.

Jim wants to buy a business suit and has a particular brand in mind. However, he also states that he might consider buying three other more expensive brands as alternatives. In this scenario, these alternative brands constitute a _____ set.

A.

distributive

B.

psychological

C.

safety

D.

retrieval

E.

evoked

What is the variable cost of a product if the fixed costs associated with it total $6,000, the break even point is 300 units, and selling price is $45?

A.

$17

B.

$25

C.

$29

D.

$34

E.

$41

What do retail outlets hope to achieve from using promotions in conjunction with markdowns?

A.

Bulk purchase of products, which reduces brand switching and, in turn, increased consumption

B.

Increased loyalty of customers based on discounts tailored to suit individual customers

C.

An increase in store traffic that leads to the purchase of non-promotional products at regular prices

D.

Increased savings for customers and increased profits, without actually cutting prices

E.

Selling off less desirable products by including them in a package with more desirable products

Which of the following is true of PSA's?

A.

They focus on issues related to places, politics, or an industry

B.

They are intended to push people towards repurchases.

C.

They are used only during the maturity stage of product life cycle.

D.

They focus on public welfare.

E.

They are always government funded.

Calculate the Category Development Index of a particular product that sells 5% of its product in a particular market that contains 1% of the country's population.

A.

500

B.

400

C.

300

D.

200

E.

100

A company's_____ specifies the marketing activities that a firm will undertake in a specific period of time.

A.

mission statement

B.

code of conduct

C.

marketing plan

D.

statement of purpose

E.

marketing mix

Snap, a manufacturer of cleaning supplies, sells its products through retailers like Peblle, a country-wide chain of discount stores in the U.S. At the end of a quarter, Snap takes into account the total purchases made by Peblle and offers a discount in the form of a rebate check. The pricing tactic used by Snap is termed as a(n) _____.

A.

slotting allowance

B.

cash discount

C.

seasonal discount

D.

trade allowance

E.

cumulative quantity discount

_____ is defined as the market value of the goods and services produced by a country in a year.

A.

Gross national income

B.

Gross domestic expenditure

C.

Gross domestic export

D.

Gross domestic valuation

E.

Gross domestic product