PCM Online Practice Questions and Answers

Which of the following is most likely to be considered a convenience product?

A. A lamp

B. A haircut

C. Running shoes

D. A can of soda

E. Concert tickets purchased online

Which of the following statements is most characteristic of a firm that has a relational orientation?

A. Improving sales techniques is the key to marketing success.

B. A firm's success depends on producing goods as quickly as possible.

C. Firms should focus on the value of each customer transaction rather than long-term sales.

D. Marketers should focus on producing products and then creating customer needs for the products.

E. Marketing success depends on building lifetime profitability from customers.

Venus Inc., an American firm, enters into the Chinese market in association with its local partner, Xy Inc. According to the terms of the contract, the firms agreed to share profits and control, and also pool resources. Moreover, the firms also agreed to share financial burdens as well. This scenario is an example of _____.

A. Direct exporting

B. Direct investment

C. Joint venture

D. Licensing

E. Franchising

_____ is a communication used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchase.

A. Product advertising

B. Reminder advertising

C. Personalized advertising

D. Persuasive advertising

E. Informative advertising

Current size, and expected growth rate, market competitiveness, and market access are a part of the _____ criterion.

A. substantialness

B. profitability

C. identifiability

D. reachability

E. responsiveness

Sunshine Foods Inc., an international fast-food chain, allows JP Inc. to use its logo and operate a retail outlet in the name of Sunshine Foods for a specified fee. Sunshine Foods also provides JP Inc. with assistance in relocating and establishing the outlet. This type of arrangement is known as _____.

A. a joint venture

B. a liability partnership

C. licensing

D. foreign direct investment

E. franchising

During a sales interview, Jim says "Harley Davidson" when the interviewer asks him to name a brand of American motorcycles. In this scenario, Jim is exhibiting _____.

A. top-of-mind awareness

B. aided recall

C. lagged effect

D. evaluation

E. persuaded interest

Which of the following is true of distribution centers?

A. Distribution centers rely on pull, rather than push strategies to determine their inventory levels.

B. Greater backup inventory is needed to prevent stockouts.

C. Space in a distribution center is usually more expensive than space in retail stores.

D. Distribution centers work best when retailers have only a few outlets that are far apart geographically.

E. Distribution centers enable the retailer to carry less merchandise in the individual stores, which results in lower inventory investments systemwide.

Hugo, impressed by a popular NFL star's frohawk hairstyle, visits Angelo's Hair Salon to get the same hairstyle. The stylist at Angelo's is very good and gives Hugo the exact style that he wants. Having received good service, Hugo visits Angelo's three months later to get a mohawk hairstyle. This time, Hugo is not satisfied with the end result and decides not to come back to Angelo's again. Which of following aspects of a service is illustrated in this scenario?

A. Intangibility

B. Heterogeneity

C. Perishability

D. Inseparability

E. Nonstorability

Mars Corp. decides to buy new laptops for its managerial employees. Having made the decision, the top managers deliberated and decided that they required a 3GHZ processor and webcam in each laptop. In this scenario, Mars Corp. is currently in the _____ stage of the B2B buying process.

A. need recognition

B. product specification

C. RFP process- Stage 5

D. proposal analysis

E. order specification