BUS 346 Chapter 10, BUS 346 Ch 8, chapter 8 marketing, Exam 3

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Market research begins with

defining objectives and research needs.

If you walk into a __________, you will likely find a broad variety of merchandise, deep assortment, and customer service, with everything divided into what appears to be a collection of specialty shops. department store off-price retailer discount store specialty store

department store

to cope with language branding difficulties companies can

develop brand names that are meaningless in known languages

Brands can be extremely valuable domestically, but challenging internationally. Companies can help to overcome language difficulties in using brands by

developing brand names that are meaningless in known languages

reason for not doing the same global campaign as the domestic

differences in languages customs and culture might make the campaign meaningless and ineffective in some markets

Graham had developed an extremely successful advertising and promotion campaign for a client in the United States. The client wanted to roll out the same campaign to markets worldwide, but Graham cautioned against doing this, most likely because

differences in languages, customs, and culture might make the campaign meaningless and ineffective in some markets.

global stp ar e more complicated because of cultural nuances, significant subcultures and

differences in the way consumers see themselves and the way they see products and services

Which of the following is one of the global entry strategies?

direct investment

which of the following is one of the global entry strategies

direct investment

Core Publishing Company learned that when selling overseas, local fulfillment can be more cost effective, and it can decrease delivery time and improve customer service. This is an example of a global _________ strategy.

distribution

core company learned that when selling in euorpe local fulfillment can be more cost effective because it decreases delivery time and improves customer service this which global strategy

distribution

Which of the following is a systematic means of collecting information from people by using a questionnaire?

survey

Commercial research firms like ACNielsen and SymphonyIRI Group are sources of

syndicated data

imported cars are more expensive because of

tariff

Manufacturers use cash discounts primarily because it allows them to benefit from

D. the time value of money.

The improvement value method and the cost of ownership method are two approaches for setting prices that are _______ methods.

D. value-based

When members of the marketing channel collude to control the prices passed on to consumers, they are engaging in

D. vertical price fixing.

One of the benefits of offering a size discount to consumers is they will purchase more of a marketer's product and

D. will be less likely to switch brands.

If a marketing researcher has to collect data under severe time constraints, which of the following types of data sources would probably be available soonest?

Syndicated data

Of the five strategies for entering new markets, direct investment creates the

greatest potential risk.

The term "trade deficit" refers to

higher levels of imports than exports

the term trade deficit refers to

higher levels of imports than exports

Victor's custom auctioneering service provides online auction selling assistance. Victor plans to conduct marketing research to determine which auction site is best for his customers. His next step is to

identify the type of data he needs to have.

How do Market Researchers Create Value?

if the results will be used in making management decisions

Contratual vertical marketing system

independent firms at different levels of the supply chain join together through contracts to obtain economies of scale and coordination to reduce conflict. Most common version of this is franchising, which allows franchisees to operate businesses using names and formats developed by the franchier

which government has recently made changes that will modernize the retail environment allowing joint ventures and direct ownership

india

which one of the bric countries has the highest illiteracy rate

india

which of the following is currently a negative factor for foreign investment in india

indias infrastructure for supply chain manageet is not up to date

what about indias population is true

indias workforce is highly skilled, particularly in technology

components of global market assessment include

infrastructure technology anwyslis anayalysi sod government actions socivulution and economci

global pricing strategies should be consistent with

positioning strategies

Global pricing strategies should be consistent with

positioning strategies.

what are hofsetedes cultural dimensions

power distance, uncertainty avoidance, individualism, masculinity, and time orientation

When the value of the dollar declines in relation to other currencies, it benefits U.S. marketers who

export goods to other countries.

When a company decides to minimize risk and enter a global market by shipping its products to buyers in other countries, this is known as

exporting

mary wants to sell in europe but doesn't have a lot capital and is risk averse

exporting

when a company decides to minize risk and enter a global market by shipping its products to buyers in other countries this is known as

exporting

when entering a foreign market the least risky strategy is

exporting because the firm does not own or establish anything in the country

Mary wants to sell her products in Europe, since they are doing well in the U.S. She does not have a lot of capital and is risk-averse, so she most likely would choose to begin with

exporting her products.

Higher-income consumers visiting __________ feel like they are on a treasure hunt, searching for a bargain. department stores extreme value retailers big box retailers services retailers

extreme value retailers

Company sales invoices, census data, and trade association statistics are examples of

secondary data

Cultural nuances, subcultures, and consumers' different views of their roles in different countries can make __________ complicated.

segmentation, targeting, and positioning

If you visit a Kentucky Fried Chicken restaurant in China, you will find congee, a rice porridge that can feature pork, pickles, mushrooms, and preserved egg, on the menu. This is an example of which global product strategy

sell totally new products or services

kfc in china practices what global product strategy

sell totally new products or services

global product strategy

selling the same product in multiple countries

With a __________ pricing strategy, marketers set a low initial price for the introduction of a new product or service.

A. market penetration

The three different methods that can help develop pricing strategies are cost based, competitor based, and profit based.

False

The local furniture store will purchase outdoor furniture only during the winter months because the manufacturer offers a better price to the furniture store. This type of pricing tactic is known as a

A. seasonal discount

Price advertisements should never

B. deceive customers to the point of doing harm.

Marketers advertising an artificially high "regular price" are unethically attempting to influence consumers' __________ perceptions.

B. reference price

Price reductions offered on products and services to stimulate demand during off-peak seasons are referred to as

B. seasonal discounts.

Marlie designs and manufactures specialty furniture. She has a number of unique products but can only produce in limited quantities. Marlie will probably not use a market penetration strategy because

B. she could not meet a rapid rise in demand.

If a fast food restaurant collected photographs of its regular customers so that it could use facial detection software to identify visitors captured by security cameras, this would be an example of using

Biometric data

Which country has a large literate population, which has helped it move up to become the world's seventh largest economy?

Brazil

If a firm has demographic and purchasing information about its customers, the firm can use data mining techniques to

Build separate marketing programs for different demographic segments.

Which of these is NOT one of the BRIC countries?

Bulgaria

A distribution center is typically operated by A. the marketing department. B. vertically integrated consumer networks. C. retailers, manufacturers, or distribution specialists. D. wholesalers. E. electronic data interchange services.

A local furniture store buys furniture from various manufacturers and resells the furniture to its customers. What type of marketing channel does this represent? A. horizontal B. vertical C. indirect D. direct E. simple

After installing an electronic data interchange, Carmella's gift shop was able to reduce _______, the amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise. A. quick time B. the advance notice C. lead time D. float time E. supply chain conflict time

At the BMW plant in Spartanburg, South Carolina, rather than use a typical order-to-delivery process, it has suppliers deliver parts every four hours when the plant is in operation. BMW uses a(n) ______ inventory control system. A. cross-docking B. lead time C. just-in-time (JIT) D. pick ticket E. UPC

Franchising involves a(n) __________ vertical marketing system. A. cooperative B. corporate C. contractual D. administered E. conventional

A pricing strategy is

A. a long-term approach to setting prices in a companywide integrated effort.

Omar is responsible for marketing and marketing research for a mid-sized manufacturer of assemblies for the housing market. His boss has asked him to cut back expenses, especially in marketing research: "Why can't you just use information off the Internet? There's plenty out there." What is Omar's best response to try to get his boss to change his mind?

"Those are secondary data, and they may not be as timely, accurate, and relevant as what we need. Our decisions may not be as good, and we'll run a huge risk."

Which of the following is an unstructured question?

"What are the most important characteristics for choosing a brand of shampoo?"

What is An Example of Internal Secondary Data? (2)

1. Data warehouses and 2. Data Mining

What does a distribution center do?

1. Management of inbound transportation. Planners are responsible for financial planning and analysis of merch & its allocation. 2. Receiving and checking using UPC 3. Storing and cross-docking 4. Getting merch floor-ready 5. Prepping to ship merch to store 6. Shipping merch to stores

What is an Example of External Secondary Data? (2)

1. Scanner Data- obtained from scanner readings of UPCA codes at check-out counters 2. Panel Data -information collected from a group of consumers

Felicia had just taken over her family's business after spending ten years in the marketing department of a large corporation. She met with a representative from one of her firm's biggest customers, who told her, "We should think about how we can make the pie bigger rather than fighting over the size of the slices." She had expected a more cutthroat approach rather than this call for a A. partnering relationship. B. shared mission statement. C. common marketing system. D. corporate vertical marketing system. E. linked supply chain.

From a retailer's perspective, a(n) _______ is helpful in order to know exactly what will arrive in a particular shipment from a supplier. A. ASN B. EDI C. UPC D. VMI E. RFID

In a(n) _______ marketing channel, one or more intermediaries work with manufacturers to provide goods and services to customers. A. indirect B. vertical C. horizontal D. simple E. direct

Naomi knows she has to order her store's Christmas holiday merchandise in April to ensure delivery before the holiday season. Naomi is concerned with the supply chain management goal of A. providing products at the right time. B. providing products at the right locations. C. providing the right quantities. D. satisfying the service levels supply chain participants expect. E. minimizing systemwide costs.

One of the benefits of EDI is that it can reduce lead time, which is A. the time between the decision to place an order and the receipt of the merchandise. B. the time from when an RFP is announced to the time a consumer purchases the finished product. C. the time from when funds are committed for purchase of raw materials to the time when the payment for the finished goods is actually received. D. the time between when finished goods leave the manufacturer until the time they arrive, floor-ready, at the retailer. E. the time between when an item is sold to a customer and when a replacement is made available for purchase by another customer.

Some retailers require their suppliers to ship merchandise ___________, thus eliminating the time and expense associated with ticketing and marking. A. floor-ready B. flattened C. lead time synchronized D. aggregated E. synthesized

Students of marketing often overlook or underestimate the importance of place in the marketing mix simply because A. it happens behind the scenes. B. it conflicts with promotion. C. it occurs after making pricing decisions. D. no one is directly in charge of place decisions. E. the product itself is so much more important.

TT TOYS manufactures toys. The company recently started buying paint for its toys from a Chinese firm. This Chinese company is part of TT Toys' A. supply chain. B. corporate vertical marketing system. C. distribution center. D. CFPR. E. voluntary chain.

Ted is glad his company finally converted to an RFID system. Now, he no longer needs to go through all the new goods to make sure what they ordered was what they received. Ted is responsible for __________ in his company. A. checking B. dispatching C. receiving D. JIT E. quick response

When Cynthia's Boutique receives dresses, they already have price tags and are on hangers. Cynthia's Boutique receives __________ merchandise. A. floor-ready B. repurposed C. just-in-time D. quick response E. horizontal channel

When her company's dry goods deliveries were late for the third time, Melissa withheld payment from her supplier until it was back on schedule. This is an example of ________ power. A. coercive B. reward C. referent D. expertise E. legitimate

Which of the following is a true statement about distribution centers? A. They enable retailers to carry less merchandise in individual stores. B. Distribution center space is typically more expensive than retail space. C. They are appropriate for all retailers, from the largest to the smallest. D. They are the quickest way to get all products to retailers. E. They complicate the process of predicting accurate sales forecasts.

While JIT systems have many benefits, they A. make the logistics function more complicated. B. interfere with new product development functions. C. confuse customers. D. work only in vertical marketing systems. E. decrease the accuracy of demand forecasts.

_______ channel conflict occurs when there is disagreement or discord among members at the same level in a marketing channel, such as two competing retailers or two competing manufacturers. A. Horizontal B. Independent C. Conventional D. Coercive E. Vertical

Amazon.com was an early leader in online retailing. Part of the firms success was due to well-designed and efficient EDI system with book publishing companies, allowing just-in-time delivery. Even with a well designed EDI system, Amazon.com would not have been successful without

A commitment to partnering with publishing companies

Pick ticket

A document or display on a screen in a forklift truck indicating how much of each item to get from specific storage areas. The forklift driver goes to the storage area and picks up the number of cartons indicated on the pick ticket.

True

A major advantage of primary data collection is that it can be tailored to fit the pertinent research questions.

Panel data

A restaurant chain is working on improving the quality of its food and service. It recruits customers who agree to respond to customer satisfaction surveys once every three months over the next two years, in order to track its progress. What kind of data are the restaurant chain collecting?

Which of the following statements best describes global expansion through a strategic alliance?

A strategic alliance is a relationship in which two firms collaborate on a business opportunity, but do not invest in each other

Which country's government has recently made significant changes that will modernize the retail environment, such as allowing joint ventures and direct ownership in some cases?

A strategic alliance is a relationship in which two firms collaborate on a business opportunity, but do not invest in each other.

What makes a high/low pricing strategy appealing to sellers?

A. It attracts two distinct market segments.

When Toro offers its lawn mower dealers an additional discount if they place their orders and receive delivery before April 1, prior to the lawn mowing season, Toro is offering a

A. seasonal discount.

When Burroughs Wellcome introduced the first anti-AIDS drugs, it initially set the price at $10,000 for a year's supply. Burroughs Wellcome was probably pursuing a(n) __________ pricing strategy.

A. skimming

B2B quantity discounts are legal if

A. the discounts are available to all customers.

Flora is frustrated with her company's supply chain management information system. She wants to be able to receive sales data, initiate purchase orders, send and receive invoices, and receive returned merchandise documentation. Flora needs a(n) A. cross-docking exchange. B. electronic data interchange system. C. vendor-managed inventory system. D. vertical conflict reduction system. E. radio frequency identification system.

Getting merchandise floor-ready entails A. distributing and dispatching. B. ticketing and marking. C. vertical supply chain wholesaling. D. intensive cross-docking. E. selective checking.

In a retail supply chain, the ________ records the purchase information and electronically sends it to the corporate office. A. UPC B. POS terminal C. VMI D. ASN E. data warehouse

In a(n) __________ marketing channel, several independent members each attempt to satisfy their own objectives and maximize their profits, often at the expense of the other members. A. cooperative B. independent C. contractual D. administered E. corporate

In marketing's four Ps, place refers to all activities required to get A. the design of the terminal location for products accomplished. B. the right products to the right customer when that customer wants it. C. access to the physical space within a retail establishment. D. consumers to the destination. E. demand chain management functionally operable.

In retailing, a just-in-time delivery system is called a _______ system. A. cross-docking B. quick response (QR) C. UPC D. EDI E. lead time

Leona is the logistics manager for the Barnes & Noble bookstore chain. She is weighing the many benefits of the company's JIT system, but will need to consider that just-in-time inventory management systems increase _______ costs. A. sales force labor B. transportation C. promotional D. advertising E. new product development

The three types of vertical marketing systems are administered, contractual, and A. cooperative. B. corporate. C. independent. D. coercive. E. conventional.

Typically, manufacturers and retailers exchange business documents through a(n) __________ system, the computer-to-computer exchange of business documents from a retailer to a vendor and back. A. cross-docking exchange B. electronic data interchange C. vendor-managed inventory D. vertical conflict reduction E. radio frequency identification

When Joe's Chicken Shack wants chicken delivered in smaller batches more frequently, it offers its distributors an incentive in the form of special bonuses to change their schedules. Joe's demonstrates which kind of power? A. coercive B. reward C. referent D. expertise E. information

Yesterday, Lorinda overheard a surprisingly unpleasant encounter between the manager of the hardware store where she works and a sales rep who sells a well-known line of tools. The rep insisted that his tools should be more prominently displayed and that a better assortment would mean more sales. The manager had other plans and told him so, and the conversation turned into a loud argument. What Lorinda observed was an example of A. sales tactics. B. channel conflict. C. retail strategy tension. D. passive aggressive behavior. E. a failure of EDI processes.

When Walmart communicates to consumers that, for any given group of often-purchased items, its prices will tend to be lower than that of any other competitor, Walmart is exhibiting what type of pricing strategy?

B. EDLP

Because market and operating conditions are different in each target market

B. the choice of a pricing strategy should be specific to the target market.

A reference price is

B. the price against which buyers compare the actual selling price.

One important reason manufacturers like rebates is that

B. their redemption rates are low.

Clark Manufactured Housing Company charges $500 for deliveries within 50 miles and $800 for deliveries 51 to 100 miles away from their factory. The company is using a _______ pricing tactic.

B. zone

observation

Bianca's discount home furnishings store is in a strip mall. She wants to know what other businesses in the strip mall her customers visit when they come to her store. To collect information for this objective, Bianca will most likely use

In an administered vertical marketing system, A. no individual participant has control over the others, since a third-party administrator oversees the entire supply chain. B. independent firms at different levels of the marketing channel join through contracts to obtain economies of scale and coordination to reduce conflict. C. there is no common ownership, and the dominant member has significant power to impose its ideas and objectives. D. independent firms join together formally to decide as a group how the marketing channel will operate. E. participants—such as warehouses, transportation companies, and retail outlets—are typically owned by a parent company to ensure harmonious relations throughout the supply chain.

Manufacturers use wholesalers and retailers because A. they have no other choice. B. they do not cost much. C. they create value for customers through convenience and cost savings. D. wholesalers control retailers. E. most manufacturers are not familiar with logistics.

Marketing channels and supply chains comprise various buying entities that form relationships with one another. The basic motivating factor in these interactions is A. collaboration creates transactional relationships. B. the most powerful member of the supply chain always wins. C. each party wants something from the others. D. the participants must create the best possible EDI system. E. retail floor salespeople need emotional support from management.

Roland has just received notification from a vendor that his clothing merchandise order has been processed and dispatched. Roland has just received a(n) A. horizontal contractual notice. B. vendor-managed inventory alert. C. advanced shipping notice. D. universal product code report. E. EDI tag.

The amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise at the seller's store to be available for sale is referred to as A. quick time. B. an advanced shipping notice. C. lead time. D. float time. E. supply chain conflict time.

The local auto supply store gets merchandise delivered to it by its manufacturers as soon as it has a need, reducing stockouts with minimal inventory. This demonstrates the concept of A. data warehousing. B. a push marketing strategy. C. vendor-managed inventory. D. manufacturer-managed distribution. E. cross-docking.

Today, when a customer orders merchandise from an online vendor, the vendor usually sends an immediate order confirmation message by e-mail. Usually within a day or two, a second message arrives stating that the order is in the mail. This second message is a type of A. vertical contractual notice. B. VMI requirement. C. advanced shipping notice. D. universal product code report. E. RFID tag.

Which element of the marketing mix specifically deals with supply chain management? A. product B. price C. place D. promotion E. production

When Toyota introduced its Scion line of cars, the lowest-price model was listed for $15,000 while the highest-priced model was listed for $21,000, with two other list prices in between. Each price point represented distinct differences in the features and quality of the cars. Toyota used a ______ pricing approach.

C. price lining

The advantage of zone pricing to the seller is the shipping charges typically

C. reflect more closely the cost of delivery.

After installing a(n) _______ in its JIT system, Chocolate Tree (a retail chocolate store) was able to reduce lead time for merchandise orders. A. supply chain B. distribution center C. quick change directory D. electronic data interchange system E. checking system

Although conflict is likely to occur in any supply chain, it is generally more pronounced when A. the supply chain members are geographically too close to each other. B. manufacturers pressure retailers. C. retailers pressure manufacturers. D. the supply chain members are independent entities. E. the economy is booming.

Colin has just received a delivery from the company's distribution center. He opens the containers and finds the popcorn and snacks are all bar-coded and priced and the package includes an end-of-the-aisle display rack. Colin has received a(n) __________ shipment. A. quick-response packaged B. ahead of the curve C. lead time synchronized D. floor-ready E. synthesized

Dawn works for a firm that buys products directly from the manufacturer and resells them to retailers, who then sell the products to consumers. Dawn works for a A. retail distribution center. B. retail jobber. C. store representative. D. wholesaler. E. manufacturer's representative.

Especially in the fashion industry where styles and trends change rapidly, a quick response system can A. allow retailers to better forecast long-term demand. B. reduce logistical overlay. C. increase cross-docking promotional effectiveness. D. align deliveries more closely with actual sales. E. allow manufacturers to introduce unpopular styles and still be successful.

If a firm declared that it wanted to develop a strategic relationship, but was unwilling to commit funds or any effort to make it succeed, there would be an obvious lack of A. mutual trust. B. common goals. C. a contractual arrangement. D. credible commitments. E. open communication.

In addition to merchandise and payments, information flows throughout a supply chain. Which of the following is not a good characterization of the flow of information in a supply chain? A. A manufacturer will send and receive information from buyers, stores, and distribution centers. B. Stores will send and receive information from manufacturers, buyers, distribution centers, and customers. C. Distribution centers will send and receive information from stores and manufacturers. D. Customers will send and receive information from stores and manufacturers. E. Buyers will send and receive information from stores and manufacturers.

Manufacturers trying to implement a just-in-time delivery system need to start with A. routing software. B. shipping schedules. C. distribution center design. D. knowledge of customer demand. E. intensive distribution.

Merchandise that arrives in the delivery truck ready to be sold is considered A. quick-response packaged. B. ahead of the curve. C. lead time synchronized. D. floor-ready. E. synthesized.

Radio frequency identification tags are A. selective distribution designs used to maximize geographic efficiency. B. electronic discount information tags used to provide reduced prices to select customers. C. VMI demand scheduling data tags. D. tiny computer chips that transmit information about a container's contents. E. information tags used for floor-ready merchandising.

Steven managed an auto parts store in the 1990s. At that time, stockouts—failure to have the parts auto mechanics needed to do their work that day—increased the likelihood of the mechanics becoming customers of competing auto supply stores. To avoid this problem and keep his business customers, Steven most likely A. canceled orders and shifted the business to competitors. B. increased promotional outlays to overcome customer dissatisfaction. C. used exclusive geographic territories to reduce supply chain inefficiencies. D. stockpiled inventory, adding to the cost of providing auto parts. E. returned to traditional distribution center logistics.

Stores like Home Depot and Costco act as wholesalers when they A. take delivery in whole-lot quantities. B. sell directly to consumers. C. sell products for distributors. D. sell to contractors or restaurant owners. E. compete with each other.

Trisha makes purses out of old blue jeans and sells them to customers at local craft fairs. What type of marketing channel does this represent? A. indirect B. vertical C. horizontal D. direct E. simple

__________ is when vendors ship merchandise prepackaged in the quantity required for each store to the distribution center. A. Quick response B. Checking C. Combination warehousing D. Cross-docking E. Horizontal merchandising

One reason marketers of new, innovative products often start out with a price skimming strategy rather than a market penetration strategy is that

D. it is easier to lower prices than to raise them.

The primary reasons manufacturers offer seasonal discounts to retailers are to more easily plan production schedules and to

D. lessen inventories of finished goods.

Having no intermediaries between the buyer and seller is a defining characteristic of a(n) _______ marketing channel. A. indirect B. vertical C. horizontal D. simple E. direct

In a corporate vertical marketing system, A. conflict tends to be a major problem. B. independent firms at different levels of the marketing channel join through contracts to obtain economies of scale and coordination to reduce conflict. C. there is no common ownership, and the dominant member has significant power to impose its ideas and objectives. D. independent firms join together formally to decide how the marketing channel will operate. E. participants—such as warehouses, transportation companies, and retail outlets—are typically owned by a parent company to ensure harmonious relations throughout the supply chain.

In a vertical marketing system, if the system is _______, the less likely conflict will occur. A. less formal B. more independent C. less independent D. more conventional E. more formal

In a(n) __________ marketing channel, none of the participants have any control over the others. A. cooperative B. corporate C. contractual D. administered E. conventional

In vendor-managed inventory systems, A. corporations send information to retail customers, bypassing wholesalers and retailers. B. companies send information to cooperatives. C. customers send information to retailers. D. sales reps send sales information to the retailer. E. retailers send sales information to the manufacturer.

Retailers often perform ticketing and marking functions in their distribution centers rather than in their retail stores because ticketing and marking is often A. the responsibility of the dispatcher. B. too complex for sales personnel to manage. C. done in conjunction with supply chain promotional allowances. D. the responsibility of the logistics department and not the marketing department. E. inefficient and expensive.

Shorter lead times allow retailers A. access to a more diverse supply chain. B. to reduce the need for pick tickets. C. to skip advanced shipping notices. D. to replace JIT systems with VMI systems. E. to reduce the needed level of inventories.

The most common type of contractual vertical marketing system is a A. wholesale agreement. B. joint venture. C. licensing arrangement. D. partnership. E. franchise.

When supply chain members view their goals and ultimate success as intricately linked, or ________, they develop deeper long-term relationships. A. conventional B. vertical C. horizontal D. administered E. interdependent

With more frequent shipments associated with quick response (QR) systems, a retailer is A. likely to have lower shipping costs. B. more likely to add extra floor-ready merchandise. C. less likely to use radio frequency identification tags. D. more likely to engage in predatory pricing behavior. E. more likely to have what customers want.

_______ channel conflict occurs when members of the same marketing channel, for example, manufacturers, wholesalers, and retailers are in disagreement or discord. A. Horizontal B. Independent C. Conventional D. Coercive E. Vertical

Generally, a _______ represents either a short-term response to a competitive threat or a broadly accepted method of calculating a final price for the customer that is short term in nature.

E. pricing tactic

Cost-based pricing assumes that costs

E. will not vary much for different levels of production.

One reason retailers are reluctant to use distribution centers is that retail store space is typically much less expensive than space at a distribution center, so it is more cost-effective to store merchandise and get it ready for sale at the retail store rather than at a distribution center.

False

Proving that a company has engaged in the deceptive bait-and-switch practice is easy.

False

Retailers often perform ticketing and marking functions in their distribution centers rather than in their retail stores because ticketing and marking is oftern

Inefficient and Distracting

Which of the following types of data would be the best choice for Wendy's fast food restaurants if the headquarters office wants to know how many hamburgers versus chicken sandwiches it has sold in past years?

Internal secondary data

A major advantage of primary data collection is that

It can be tailored to meet the specific research needs.

In the 1970s and 1980s, __________ dominated the global marketplace because they could exploit their skills in production, materials management, and new product development.

Japanese firms

JIT and QR

Just in time and quick response inventory control systems both refer to inventory management systems designed to ship smaller quantities more frequently.

The marketing research process follows five steps, and researchers

May not always go through them in the exact sequence if the situation changes or new information is discovered.

Vertical marketing system

Members of the marketing channel act as a unified system. Types: administered, contractual and corporate

What is required to build a successful strategic/partnership relationship?

Mutual trust, common goals, open communication, interdependence, credible commitments

Which of the following trade agreements is designed to manage and promote trade activities for the United States, Canada, and Mexico?

NAFTA

trade agreement for us canada and mexico

NAFTA

what are the major trade agreements affecting global marketing

NAFTA, EU, ASEAN, CAFTA

Because of the way ____buy merchandise, customers can never be confident that the same merchandise will be in stock each time they visit the store.

Off-price retailers

Recently, the number of students enrolled in the marketing program dropped while enrollment in the psychology program increased. The chair of the marketing department will probably use __________ as a first step to gain a better understanding of why enrollments are changing.

Qualitative research

Are Structured Questions Quantitative or Qualitative?

Quantitative

In the infamous Coke-New Coke taste test, 54 percent of consumers, using a blind taste test, preferred the New Coke formula to the existing formulation. This is an example of a __________ market research method.

Quantitative

Once a marketing researcher is ready to move beyond preliminary insights to specific, informed questions, the researcher is ready to conduct

Quantitative research

__________ confirms insights and provides a basis for taking a course of action.

Quantitative research

What do the BRIC countries have in common?

They are experiencing significant levels of economic growth (The BRIC countries are Brazil, Russia, India, and China)

What do the BRIC countries have in common?

They are experiencing significant levels of economic growth.

Why should marketers be aware of the BRIC countries?

They are likely to be the source of most market growth.

which of the following is a TRUE statement about distribution centers?

They enable retailers to carry less merchandise in individual stores.

What is a disadvantage of online focus groups, compared to offline focus groups?

They usually do not permit insights based on body language.

A high/low pricing strategy relies on the promotion of sales, during which prices are temporarily reduced to encourage purchases.

True

A marketing channel and a supply chain are virtually the same.

True

Which of the following best describes the direct investment global entry strategy?

With direct investment, a firm maintains total ownership of its plants, operation facilities, and offices in a foreign country

Which of the following best describes the direct investment global entry strategy?

With direct investment, a firm maintains total ownership of its plants, operation facilities, and offices in a foreign country.

Experimental

__________ research is a type of quantitative research that manipulates variables to help determine cause and effect.

In which of the following categories would a dry cleaning business be placed? services retailer specialty store category killer superstore discount store

Sophie made pies and sold them from her food truck to local businesses. This is an example of a(n) A. direct marketing channel. B. distribution center. C. simplified transaction. D. wholesale operation. E. indirect marketing channel.

Today, __________ dominate supply chains. large retailers manufacturers government agencies wholesalers distributors

what is a joint venture

a business formed with two or more firms pool their resources it is a medium risk strategy for global market entry

As a type of retailer, category specialists are fierce competitors using a broad assortment of merchandise. highly trained personnel throughout the stores. a complete assortment in a specific category at low prices. highly attractive loyalty programs.

a complete assortment in a specific category at low prices.

Wholesaler

a firm that buys products from manufacturers and resells them to retailers. Retailers sell them directly to consumers

In Questionnaire Design, a Question Such as "When was the First Time You Went to the Dentist?" Is....

a question that respondents cannot easily or accurately answer

Marketing channel

a set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers

The most common measure of market potential of an economy is a country's

a. GDP

When considering global marketing opportunities in Bangladesh, Tom asked the question, "How will we get it there?" Tom is concerned about __________ capabilities in Bangladesh.

a. infrastructure

Retailing is defined as the set of business activities that focuses on a firm's core values. focuses on transactions, but not relationships. adds value to products and services sold to final consumers. separates wholesaling from manufacturing.

adds value to products and services sold to final consumers.

ASN

advanced shipping notice

Roland has just received notification from a vendor that his clothing merchandise order has been processed and dispatched. Roland has just received an _____.

advanced shipping notice

Celia's firm has developed a breakfast cereal targeted toward children. Rather than compete in the mature U.S. market, she has decided instead to introduce the product in Europe, where she feels it will be innovative. Her advertising agency urged caution because

advertising regulations differ in other countries, including advertising to children.

global expansion often begins with

an order from another company

In a focus group, researchers usually videotape the session in order to

assess both verbal and nonverbal responses

In a focus group, researchers usually videotape the session to

assess both verbal and nonverbal responses.

If a manufacturer wasn't happy with either intensive or exclusive distribution, a logical choice, which incorporates some features from both, would be __________ distribution. moderate selective compromise luxury evolutionary

In the past, __________ dominated supply chains. retailers manufacturers government agencies wholesalers distributors

NCD company wants to expand into the Mexican market. It has the financial resources, wants to control business operations, and has had considerable success marketing to Hispanics in the United States. NCD will likely use __________ to expand into the Mexican market.

b. direct investment

When a company decides to minimize risk and enter a global market by shipping its products to buyers in other countries, this is known as

b. exporting

When firms pool their resources to enter a new market, they create a

b. joint venture

The Big Mac Index is a novel measure of

b. purchasing power parity

Geert Hofstede's cultural dimensions concept focuses on five dimensions of __________ in a country.

b. underlying values

Wanda and Jim are working on a research project to anticipate customer attitudes toward a proposed new product line for their company. They have worked with the marketing manager to determine the answers that are needed and have created a detailed design of the project. Their next logical step will be to

begin to collect data.

UPC

black and white code scanned

For retailers, promotion refers to supply chain communication. the relationship between price and product. the image a store attempts to maintain through their pricing strategy. both their in-store environment and their mass media communications.

both their in-store environment and their mass media communications.

which country has a large literate population that helped it to become the worlds seventh largest economy

brazil

bric countries

brazil, russia, india and china

Which of the following is NOT one of the typical outlets used by retailers? catalogs the Internet business-to-business requests for proposals (RFPs) brick and mortar stores

business-to-business requests for proposals (RFPs)

Distribution intensity is commonly divided into three levels: administered, vertical, and independent. corporate, contractual, and independent. intensive, exclusive, and selective. global, national, and local. primary, secondary, and tertiary.

For consumers, shopping in a retail store instead of online offers the unique benefits of participating in a social experience and receiving meaningful product information. viewing a greater selection of products. obtaining immediate gratification. receiving personalized offers. viewing price matching by competitors.

Personal selling is particularly important for retailers selling online services. discount items. products that are complicated or expensive. low-cost services. trend or fashion items.

Global segmentation, targeting, and positioning (STP) are more complicated than local STP, in part because

c. consumers may view their roles differently in different countries

Global segmenting, targeting, and positioning are more complicated than domestic segmenting and positioning because of cultural nuances, significant subcultures within countries, and

c. differences in the way consumers see themselves and in the way they see products and services.

Global businesses often find it particularly difficult to understand the __________ of a country's culture.

c. underlying values

Which of the following is NOT one of Hofstede's cultural dimensions?

certainty assurance

which country has a rapidly again population

china

The owner of A. C. Flora Ford Dealership wanted to know why consumers chose his company to purchase a car. He was fairly sure that most customers had one of three reasons—service, reputation, or location—but wanted to know which was revealed as the most frequent reason for purchasing. A. C. Flora will probably use a survey with __________ questions to address his research problem.

closed-ended

As part of efforts to stimulate economic development in Africa, the Gates Foundation announced that it would provide cellular phones to farmer cooperatives. The Gates Foundation recognized problems in __________ exist in many African markets.

communication

china has three main languages and many dialects this presents a particular challenge to developing a global

communication strategy

RFID tags

computer chips with information

once a firm has done analysis of the viable product markets it must

conduct an internal assessment of its capabilities

Once a firm has done an analysis of the most viable markets for its products, then it must next

conduct an internal assessment of its capabilities.

marketers use hofsetedes cultural dimensions to design marking campaigns that are

consistent with underlying cultural values in a country

Retailing is defined as the set of business activities that focuses on a firm's core values. only occurs in brick-and-mortar space. separates wholesaling from manufacturing. adds value to products and services sold to final consumers. always focuses only on transactions, and never relationships.

Supercenters have become the fastest growing retail category by combining broad assortments of groceries and general merchandise products. __________ dominates this category with the vast majority of supercenters in the United States. Target Meijer Kmart Kroger Walmart

__________ is the term used to describe the situation when retailers use some combination of stores, catalogs, and the Internet to sell merchandise. Vertical integration Cross-channel leverage Horizontal integration Multichannel retailing Opportunistic retailing

Which of the following trade agreements is designed to manage and promote trade activities for the United States, Canada, and Mexico?

d. NAFTA

In China, state control of media is high, so companies are challenged to find ways to get their message to customers. This demonstrates one of the difficulties in crafting a global ________ strategy.

d. communication

When entering a foreign market, the least risky strategy is

d. exporting

During the early stages of globalization, in the 1950s and 1960s, _______________ were uniquely positioned in the global marketplace because they had the skills necessary to develop, promote, and market brand name consumer products.

d. large U.S. firms

Changes in _________ have been a driving force for growth in global markets for decades.

d. technology

Anbinh Fashions is launching a new line of one-of-a-kind designer jewelry. Each piece is handcrafted, and production volumes will be very low. To emphasize the unique nature of this jewelry, Anbinh Fashions will probably choose _________ distribution. luxury selective monopolistic intensive exclusive

Universal product codes (UPCs) are used to describe products for inventory taxation purposes.

False

Which of these trade agreements represents the highest level of integration among participating nations?

e. EU

Cory is working on a global marketing assessment team looking out well into the future to help determine the most attractive market areas around the world. He is evaluating market sizes and growth rates. Based on population growth rates in different regions, he should consider that

e. countries with high purchasing power today may not continue to show the same growth in the future

A __________ limits the quantity of imported merchandise, thus minimizing competition faced by domestic products.

e. quota

when ford introduced figo in india it was responding to

economic and social trends in india toward smaller cars

Paul's family has owned and operated a small chain of conventional supermarkets for many years. Competition from a variety of other kinds of retailers has adversely affected the business. To address the new competitive reality, Paul wants to apply what he recently learned as a marketing major and he has recommended that his family's business should emphasize fresh, locally sourced perishables. target the broadest possible customer base. eliminate customer frills and extras. offer fewer private label brands.

emphasize fresh, locally sourced perishables.

The components of global market assessment include all of the following EXCEPT

ethnic analysis.

culture affects

every aspect of the purchase decisions consumer make

According to purchasing power parity theory, if __________ is/are in equilibrium, products will cost the s

exchange rates

Academic researchers often jump at the opportunity to conduct a research study, curious to learn more and address unanswered questions for the sake of general knowledge. Business people tend to be more cautious before embarking on a marketing research study, recognizing that research is often

expensive and time consuming.

value of the dollar declines in relation to other currencies, it benefits US marketers who

export goods to other countries

When entering into a franchise agreement, what term is used to refer to the firm that is granted the right to operate a business using the franchise name and business concept?

franchisee

what term is used to refer to the firm that is granted the right to operate a business using the franchise name

franchisee

Gerald is assessing global entry strategies for his gourmet sandwich business. He does not want to take a lot of risk and he is willing to limit his control of international stores. Gerald will likely use a __________ strategy.

franchising

many american realtors have expanded globally using

franchising

not a lot risk and limitations on control of international stores often lead to which strategy

franchising

Many of the best-known American retailers, like Starbucks and McDonalds, have expanded globally using

franchising.

Full-line discount, category specialist, and specialty stores are all types of __________ retailers. food general merchandise price sensitive limited demand

general merchandise

Zan wants to collect considerable information about the current opinions of his ten most important customers. Zan will probably use the __________ research method.

in-depth interview

Using __________, researchers ask questions, listen to and record responses, and ask additional questions based on initial responses.

in-depth interviews

Retailers in expensive resort areas often find it difficult to hire quality salespeople. In a situation like this, some retailers augment or even replace the sales and customer service functions with expanded hours of operation. continuous use of promotions. in-store kiosks or self-checkout lanes. special attention to placement of products in their stores.

in-store kiosks or self-checkout lanes.

Kim wants to maximize sales to the customers who walk into her store. Of the following, Kim will most likely focus on in-store promotions. billboard and other outdoor advertising. supply chain relationships. off-price wholesaling.

in-store promotions.

Unusual and exciting displays like Bass Pro Shops' climbing wall and stocked aquarium are examples of promotional discounts. mass media gimmicks. mobile marketing. in-store promotions.

in-store promotions.

Retailers focusing on increasing sales to their best customers are attempting to slay the category killers. compete with off-price retailers. drive their supply chain. increase their share of wallet.

increase their share of wallet.

What is a Major Advantage of Primary Data Collection?

it can be tailored to meet specific research needs

The major advantage of primary data collection is that

it can be tailored to meet the specific research needs

Students of marketing often overlook or underestimate the importance of place in the marketing mix simply because _____.

it happens behind the scenes

domestic firms developing a global entry strategy might consider franchising however what are the disadvantages

it has limited ability to ensure foreign operations follow concepts, might become a competitor, limits profit potential because profits will be split with the franchisee

Which of the following retail stores would emphasize personal selling the most as part of the firm's promotional efforts? jewelry store convenience store liquor store second-hand clothing store

jewelry store

when firms pool their resources to enter a new market they create

joint venture

China, like many other countries, usually requires entering firms to create _________ when expanding into their markets, limiting outsiders' control of businesses.

joint ventures

china requires firms to create what when expanding in their markets

joint ventures

Today, __________ dominate supply chains. large retailers manufacturers government agencies wholesalers

large retailers

When conducting a research study attempting to understand what features were most important to automobile consumers, Gary's Research Company used a(n) questionnaire containing __________ questions, with a predetermined set of response options.

structured

When Ben evaluated the commercial infrastructure in Mauritius, he considered the island's

legal, banking, and regulatory systems.

generally firms entering foreign markets begin with

less risky strategies first

Generally, firms entering foreign markets begin with

less risky strategies first.

why should marketers be aware of bric countries

liekley to be source of most market growth

As the old cliché claims, the three most important things in retailing are size, location, and convenience. price, promotion, and place. location, location, and location. price, price, price.

location, location, and location.

As the old cliché claims, the three most important things in retailing are size, location, and convenience. price, promotion, and place. location, location, and location. price, price, price.

location, location, and location.

Tariffs protect domestic producers by

making imported products more expensive.

Direct marketing channel

manufactuers sell directly to the buyer

vendor-managed inventory

manufacturer maintains retailer's inventory levels

In the past, __________ dominated supply chains. retailers manufacturers government agencies wholesalers

manufacturers

Economic measures like GDP and GNI do not fully account for a country's economic health because they only measure

material output.

Retailing is where marketing is replaced by personal selling. meets the consumer. meets corporate management. sells itself to the corporation.

meets the consumer.

Horizontal channel conflict

members at the same level disagree (like a price war between retailers)

Mattel wanted to determine whether a new toy would appeal to preschoolers, so it put six 4-year-olds in a room with several toys and waited to see which ones they played with. What form of research is this?

observation

When consumers are unable to articulate their experiences, __________ becomes particularly useful in understanding consumers' preferences

observation

Because of the way __________ buy merchandise, customers can never be confident that the same merchandise will be in stock each time they visit the store. department stores off-price retailers discount stores services retailers

off-price retailers

If you were a marketer for a clothing manufacturer and you wanted to improve revenues from irregulars, production overruns, and returns, you would be attracted to using department stores. specialty stores. category specialists. off-price retailers.

off-price retailers.

Indirect marketing channel

one or more intermediaries work with manufacturers to provide goods and services to consumers

Franco, a former retailer, has been living in the United States for five years and wants to start a business. He does not have an existing firm or a product, and he doesn't have a lot of capital, but since he loves McDonald's food, he decides to

open a McDonald's franchise.

franco wants to start a business without having an existing firm or product so he might

open a mcd franchise

From charitable giving to medical records to Internet tracking, consumers are more anxious than ever about

preserving their right to privacy

From charitable giving to medical records to Internet tracking, consumers are more anxious than ever about

preserving their right to privacy.

Retailers' coupons, rebates, and online discounts are types of in-store promotions. specialty product displays. pricing promotions. off-price wholesaling.

pricing promotions.

Tariffs, quotas, and currency exchange policies affect global

pricing strategies

tariffs quotas and currency exchange policies affect global

pricing strategies

Tariffs, quotas, and currency exchange policies affect global

pricing strategies.

After reviewing the existing data on seasonal spending by his company's customers, Marvin decided he needed new information collected to address his research questions. Marvin will need __________ data to address the questions in his market research study.

primary

When a research team has gathered data for specific research needs, this is known as

primary data

Personal selling is particularly important for retailers selling online services. discount items. products that are complicated or expensive. to younger consumers and in big-box stores.

products that are complicated or expensive.

The Big Mac Index is a novel measure of

purchasing power parity

Social media monitoring, in-depth interviews, and focus groups are all __________ research methods

qualitative

When the market research problem is not clearly defined, a researcher will likely engage in __________ research

qualitative

qualitative research

Manufacturers would prefer to produce in a country with a trade __________, because it signals a greater opportunity to export products to more markets.

surplus

Chris is gathering information about the general economic environment in Nepal. He will look for information about the general economic environment, market size and population growth rate, and

real income.

global marketers are under constant pressure to shorten distribution channels to

reduce costs

Global marketers are under constant pressure to shorten distribution channels to

reduce costs.

marketing in children in europe runs into what probelm

regulations of advertising especially to children can widely vary from country to country

which describes global expansion through a strategic alliance

relationship where two firms collaborate on a business opportunity but do not invest in each other

What is True of Marketing Research and the Research Process?

researches may not always go through the 5 steps in the exact sequence if the situation changes or new information is discovered

One Laptop Per Child is a nonprofit initiative with the goal of making extremely low-cost laptops available to children in the developing world to help them learn skills, with the goal of helping them to learn skills needed in today's workforce. If some of the low-cost technology developed for this laptop found its way into laptops created for U.S. consumers, this would be an example of

reverse innovation.

Unilever discovered that people in emerging economies could not afford to buy standard sizes of toothpaste or shampoo, so Unilever started selling single-serve packets at very low prices. Later, Unilever discovered that the same approach worked in the U.S. and started also selling them there. This is an example of

reverse innovation.

franc has disponible income because he has no debt and has little interest in saving and only makes 600 a month where does he live

russia

which country is projected to become europes largest online market in the next few years with internet users growing at a rate of 15 percent anually

russia

what is negative factor for foreign investment in russia

russia is known for corruption, creating ethical dilemmas for firms

globalization of the fiesta

same product design and features with variations in promotional campagins

A marketing research project often begins with a review of the relevant __________ data

secondary

One of the greatest constraints faced by store-based retailers—and one that the Internet channel can address—is being price competitive. the amount of merchandise that can be carried in a physical store. competition from other retailers. common zoning restrictions limiting the kinds of merchandise that can be offered for sale.

the amount of merchandise that can be carried in a physical store.

When Ford introduced its Figo in India, it was responding to

the economic and social trends in India toward small cars.

One product strategy used by retailers to differentiate themselves from competitors is the use of private label brands. discount pricing. removing brand labels from their merchandise offerings. JIT product delivery.

the use of private label brands.

what do the bric countries have in common

they are experience significant levels of economic growth

Manufacturers use wholesalers and retailers because ______.

they create value for customers through convenience and cost savings

Blogs represent valuable sources of marketing research insights, but they are also a challenge for firms because

they include both positive and negative commentary

Global marketers typically find distribution in developing countries is more complex because

they must go through many types of distribution channels

distribution globablly is more complex because

they must go through many types of distribution channels

A(n) __________ is a 13-digit code retailers can use to track inventory. A. UPC B. CFPR C. pick ticket D. ASN E. EDI

What are the 3 Decision-Questions on Whether to Purse a Marketing Research Project or Not?

1. Will the research provide insight beyond what the managers already know and reduce uncertainty associated with the project? 2. Is top management committed to the project and willing to abide by the results of the research 3. Should the Marketing Research project be small or large?

A(n) _______ is used in the shipment of products directly to customers. A. fulfillment center B. distribution center C. administration center D. data warehouse E. vendor warehouse

A(n) __________ is a document used by a forklift driver indicating how much of each item to get from specific storage areas. A. pick ticket B. warehouse receipt C. bill of lading D. certificate of origin E. RFID tag

A(n) __________ is a supply chain whose members act like a unified system. A. vertical marketing system B. independent marketing system C. concentrated marketing system D. conventional marketing system E. strategic marketing system

A(n) __________ is the set of institutions that transfer the ownership of and move goods from the point of production to the point of consumption. A. marketing channel B. distribution center C. logistics chain D. strategic relationship E. electronic data interchange

A reference price might be considered deceptive if

C. the reference price has been inflated or is fictitious.

When a new product is not being sold at the rate originally forecasted, the retailer may reduce the price in order to reduce the inventory of the product. This reduction is known as a

A. markdown.

What is the difference between a coupon and a rebate?

A. The retailer handles coupons while manufacturers handle most rebates.

When Greenbelt Construction Company began building houses in a large subdivision with many other builders, the company priced its homes slightly higher than its competitors and promoted the added quality features found in Greenbelt's homes. Greenbelt was using a(n) _______ pricing strategy.

A. competition-based

Milton owns a lawncare business. From experience, Milton has found that John Deere equipment lasts almost twice as long as competitors' machines. For John Deere, Milton's perception about its products makes _______ pricing a logical choice.

A. cost of ownership

Compared with other methods used to set prices, _______ pricing is relatively simple.

A. cost-based

Dan is especially price sensitive. He has been known to line up on "Black Friday" (the day after Thanksgiving) at 4 a.m. to be among the first to buy sale items. Dan would likely respond to a _______ pricing strategy.

A. high/low

In a(n) _______ pricing strategy, marketers rely on the promotion of sales, during which prices are temporarily reduced to encourage purchases.

A. high/low

If all three grocery stores in town decide to charge the same price for a gallon of milk, what type of pricing tactic is being used?

A. horizontal price fixing

Several airlines have agreed to charge the same fare for a single route. The airlines are using

A. horizontal price fixing.

Price skimming focuses on selling products to __________ and __________ in the consumer adoption process model.

A. innovators; early adopters

Supermarkets often offer great deals on milk or eggs to get customers into their stores, knowing that many customers will also purchase items that have higher markups for the store. These supermarkets are using a _______ pricing tactic.

A. leader

Retailers use _______ to get rid of slow-moving or obsolete merchandise.

A. markdowns

Mario is the first retailer in town to sell games for Sony's latest version of its PlayStation gaming console. Mario wants to quickly capture as much of the market for the new games as possible. Mario will likely use a __________ pricing strategy.

A. penetration

The Clayton Act and the Robinson-Patman Act forbid certain types of

A. price discrimination.

Value-based pricing can be difficult to implement because

A. the way consumers perceive value changes often.

Conventional marketing channel

Also called an independent marketing channel; none of the participants has any control over the others. Each attempt to satisfy their own objectives and maximize their profits, often at the expense of other members

When conducting a survey about choosing vacation destinations, Hillary will need to __________ to get reluctant respondents to provide honest information.

Assure consumers that their individual responses will be kept confidential

A ________ is a facility for the receipt, storage, and redistribution of goods to company stores. A. circulation center B. distribution center C. supply chain hub D. collaborative replenishment office E. floor-ready franchising center

When Sony released its PlayStation 4 game console, it charged a high price, attracting the most avid game players. This was a market penetration pricing strategy.

False

Because manufacturers with JIT systems produce merchandise closer to the time of sale, they can A. organize cooperative agreements among competing manufacturers to reduce oversupply. B. reduce inventories needed to satisfy retailers' demand. C. use exclusive geographic territories to centralize production. D. effectively eliminate the need for a dispatcher. E. replace independent supply chains with corporate supply chains.

The saying "leaving money on the table" is associated with

B. a market penetration strategy when there is an opportunity for price skimming.

Value-based pricing methods include approaches to setting prices that focus on the overall value of the product offering

B. as perceived by the consumer.

An everyday low pricing strategy stresses the continuity of retail prices

B. at a level between the regular price and the deep-discount sale prices of competitors.

A noncumulative B2B quantity discount is

B. based only on the amount purchased in a single order.

The pricing method that considers what consumers may be willing to pay for a particular product based on the value received over the product's entire lifetime is the _______ pricing method.

B. cost of ownership

Retailers use _____ because they believe their use will induce customers to try new products, convert first-time users to regular users, increase purchases, and protect market share.

B. coupons

General Mills offers three sizes of its popular cereal Cheerios: 10-, 14-, and 18-ounce boxes, and they are priced at approximately $2.99, $3.99, and $4.49, respectively. The company employs this tactic to

B. encourage consumers to purchase larger quantities each time they buy.

In determining the price of his company's new small-business accounting software, Richard is assessing how much better his company's software is as compared to alternative products available in the market. Richard is using _______ pricing.

B. improvement value

The major objectives associated with a market penetration pricing strategy are to

B. quickly build sales and market share.

Mary decided to purchase an electronic toothbrush priced at $100 because of a special offer from the manufacturer. By sending proof of purchase and the receipt to the manufacturer, she could receive a $40 check in return, making the final price $60. This pricing tactic is known as a

B. rebate.

In a __________ distribution center, merchandise moves from vendors' trucks to retailers' delivery trucks in a matter of hours. A. traditional B. combination C. cross-docking D. vertical E. horizontal

When a customer purchases a DVD at a Best Buy Electronics store, all of the following information flows in the supply chain are started except A. the sales associate scans the UPC recording the sale. B. the sale is transmitted to Best Buy's distribution center to adjust inventory data. C. the purchase is added to the customer's purchasing habit records. D. Best Buy's buyer aggregates sales at all stores and uses the information to send a reorder to the manufacturer. E. the point-of-sale terminal records the sale and sends it to Best Buy's buyer.

Which of the following is not one of the activities carried on in a distribution center? A. coordinating inbound transportation B. receiving, checking, storing, and cross-docking merchandise C. distributing paychecks and paystubs for retail employees D. getting merchandise floor ready E. coordinating outbound transportation

Which of the following is not required to build a successful strategic relationship? A. mutual trust B. open communications C. creation of a joint venture D. common goals E. credible commitments

_______ systems are designed to deliver smaller shipments of merchandise on a more frequent basis to retailers. A. Cross-docking B. UPC C. Just-in-time (JIT) D. Pick ticket E. Lead time

hen Costco sells to consumers directly, it acts as a _______; when it sells to other businesses, such as a restaurant owner, it acts as a _______. A. wholesaler; retailer B. retailer; manufacturer C. retailer; wholesaler D. manufacturer; wholesaler E. marketing channel; supply channel

What is one of the drawbacks of using a price skimming strategy?

C. Firms must consider the high costs associated with producing a small volume of product.

If a market penetration pricing strategy results in lower per-unit cost, competitors might be discouraged from entering the market because

C. they would likely need to quickly produce a large volume in order to compete.

Yurgen is opening a financial consulting service for high-income retirees in his area. This target market is used to paying for quality and associates high quality with high prices. In this instance, Yurgen should probably not use a market penetration pricing strategy because

C. a low price might signal low quality.

Bill desperately needed tires for his car, and he found an ad with an incredibly low price. When he got there, he found out that those tires had supposedly sold out, and he was pressured into buying tires that were more expensive than he wanted. Bill found out later that Marcelo had the same experience at the store a few weeks earlier. It's quite possible that both Bill and Marcelo had become the victim of a deceptive pricing tactic known as

C. bait and switch.

Yvonne estimates the average cost of her floral arrangements is $14 regardless of whether she is making 5 or 20 arrangements that day. She adds a standard markup to the $14 estimate to determine her price. Yvonne is using a(n) _______ pricing method.

C. cost-based

Many stores now e-mail codes to their customers that can be used on their websites or printed and brought into the store to receive discounts for products purchased. In this instance, the customer is using a _______ to receive the discount.

C. coupon

A weakness associated with cost-based pricing methods is that they

C. do not recognize the role consumers or competitors' prices play in the marketplace.

In which of the following tactics does a consumer pay a fee to purchase the right to use a product for a specific amount of time?

C. lease

Developing pricing strategies for __________ is one of the most challenging tasks a manager can undertake.

C. new products

For marketers to advertise a price as their __________ price, the Better Business Bureau recommends that at least 50 percent of the sales of a product occur at that price.

C. regular

The most common form of a quantity discount for consumers is a

C. size discount.

Fees paid to retailers simply to get new products into stores or to gain more or better shelf space for their products are called _______ allowances.

C. slotting

profitability

Caroline is assessing market growth, market competitiveness, and market access for each segment she has identified. Caroline is assessing __________ of each potential market segment.

Which country has a rapidly aging population due to its one-child policy?

China

Which of the following is a potential negative factor for foreign investment in China?

China's population is aging rapidly.

The number of customers who discontinue their use of a service divided by the average number of total participants is called

Churn

secondary data

Company sales invoices, census data, and trade association statistics are examples of

If a firm declared that it wanted to develop a strategic relationship, but was unwilling to commit funds or any effort to make it succeed, there would be an obvious lack

Credible Commitments.

Many retail stores have driving ranges, some with backdrops showing famous golf courses. These driving ranges allow.

Customers to try before they buy.

A pricing tactic is

D. a short-term approach that is often in response to a competitive threat.

__________ pricing tactics lower the price of a product below the store's cost.

D. Loss-leader

In a __________ pricing tactic, sellers advertise very low prices and then aggressively pressure customers to purchase higher-priced versions of the product advertised with the low price.

D. bait-and-switch

Firms using a(n) _______ pricing method set their prices relative to what other firms are charging.

D. competition-based

In determining the price for his company's new photo printer, Raymond is assessing the total cost of owning his printer as compared to alternative products available in the market. Raymond is using _______ pricing.

D. cost of ownership

Production of the DeLorean car, made famous in the film Back to the Future, never got above 25,000 units during its lifetime. Automobile industry analysts estimate that production of this car needed to reach around 300,000 units to achieve the __________, which refers to a decrease in unit cost as product volume increases.

D. experience curve effect

The __________ occurs when unit cost drops as the quantity sold increases.

D. experience curve effect

Each generation of cell phones has provided greater clarity, range, security, and multifunctionality. If marketers of cell phones use these features as a basis for pricing, they would be using _______ pricing.

D. improvement value

All of the following are common business-to-business pricing tactics except

D. loss-leader pricing.

For marketers using a price skimming strategy, once the initial demand is met for new and innovative products, they will likely

D. lower the price to capture the next most sensitive market segment.

It is the responsibility of __________ to determine the ethical approach to setting prices so consumers find value and the firm can make a profit.

D. marketers themselves

A major airline sells an aggressively low-priced ticket compared to a new low-fare airline which is trying to enter the market. The airline may be accused of engaging in the unethical practice of

D. predatory pricing.

When a firm colludes with other firms to control prices, it is engaging in

D. price fixing.

Everyday low pricing (EDLP) provides value to consumers by

D. reducing their search costs.

In determining the price for his company's new pocket digital camera, Matt determines what consumers consider the regular or original price for similar cameras available in the market. Matt is assessing the influence of __________ on pricing strategy.

D. reference prices

If you walk into a _____, you will likely find a broad variety of merchandise, deep assortment, and customer services, with everything divided into what appears to be a collection of specialty shop.

Department store

Which of the following is not one of the activities carried on in a distribution center?

Distribution centers do all of these things except distribution of paychecks

Each time a politician or celebrity writes a book, bookstores can expect at least some customers to want the book, but whether or not it will become a best seller is less certain. The bookstore's primary inventory management challenge is A. how to get the author to sign copies of the book. B. whether to price the books in the distribution center or at the retail store. C. which other books to promote along with this book. D. whether or not to display the book at the checkout counter. E. having enough books to satisfy customer demands versus the cost of having the inventory.

Which of the following is not an advantage of using a distribution center? A. More accurate sales forecasts are possible. B. Retailers need to keep less merchandise in the store as inventory if the stores get frequent deliveries. C. It is easier to avoid running out of stock or having too much stock. D. Use of a distribution center saves money since the storage space at a distribution center is generally less expensive than that of a store. E. Customers know they are dealing with a more sophisticated and financially well-off operation if the firm uses a distribution center.

________ power is based on getting a channel member to behave in a certain way because of a contractual agreement. A. Coercive B. Reward C. Referent D. Expertise E. Legitimate

It is important to Joanne to get value for her money, but she does not want to spend time comparison shopping. Joanne will likely respond to _______ pricing, but not to _______ pricing.

E. EDLP; high/low

__________ price fixing occurs when competitors collude to control prices, and __________ price fixing occurs within a marketing channel to control prices passed on to consumers.

E. Horizontal; vertical

One of the difficulties associated with value-based pricing is that

E. it necessitates a great deal of consumer research to be implemented successfully.

Pricing _______ products is especially challenging because little or nothing is known about consumers' perceptions of its value.

E. new-to-the-world

For a price skimming strategy to work, the product or service must

E. offer consumers some new benefit currently unavailable in alternative products.

If a telecommunications company drastically cuts the price for cellular phone service in order to eliminate local competitors, the company could be charged with

E. predatory pricing.

Cosmetic manufacturers that sell shampoo and conditioner together as one package at a lower price rather than selling each item separately are using

E. price bundling.

When marketers establish a price floor and a price ceiling for an entire line of similar products and then set price points in between for differences in quality among the products, they are using a _______ pricing approach.

E. price lining

When Apple introduced the iPhone—a combination phone, MP3 player, and Internet access device—in 2007, it was priced at $499, considerably higher than either the iPod or competing cell phones. Hoping to attract innovators and early adopters, Apple was most likely pursuing a __________ pricing strategy.

E. price skimming

Some retailers require their suppliers to ship merchandise____ thus eliminating the time and expense associated with ticketing and marketing

Floor-Ready

Charging a relatively high price for new and innovative products to those consumers most willing and able to pay the high price is called price

E. skimming.

Some consumers make it a point to go shopping the day after Christmas to stock up on discounted wrapping paper and bows for the following year. These consumers are

E. taking advantage of seasonal discounts.

which one of these trade agreements represents the highest level of integration among participating nations

EDI

Electronic data interchange is the computer-to-computer exchange of business documents from a retailer to a vendor and back.

__________ research is a type of quantitative research that manipulates variables to help determine cause and effect.

Experimental

Which of the following types of research would be considered quantitative research?

Experimental research

_____ are likely to target low-income consumers who demand national brands, but cannot afford to buy large-sized packages.

Extreme Value Retailers

Which type of store is small and offers a limited merchandise assortment at very low prices?

Extreme value retailers

__________ are likely to target low-income consumers who demand national brands, but cannot afford to buy large-sized packages. Category Killers Department stores Extreme value retailers Specialty stores

Extreme value retailers

A distribution center and a fulfillment center are one and the same.

False

A firm just starting out usually has the option of choosing from whom it buys and to whom it sells.

False

A noncumulative quantity discount usually involves several transactions.

False

A pricing strategy and a pricing tactic are essentially the same thing.

False

Coercive power is based on getting a channel member to behave in a certain way because of a contractual agreement between the two firms.

False

Conflicts within a supply chain tend to be more pronounced when the members are part of a corporate vertical marketing system.

False

Distribution centers are always operated by distribution specialists.

False

Firm A has set very low prices for its products in an attempt to drive its competitor, Firm B, out of business. This is known as monopolistic pricing.

False

For market penetration pricing to work, the product or service must be perceived as breaking new ground in some way.

False

It is best if firms choose one pricing strategy to use for all its products rather than use different methods for pricing.

False

Quick response (QR) systems allow retailers to maximize their inventory holdings.

False

Retailers generally have no prior knowledge of the merchandise they will be receiving from suppliers in any particular shipment.

False

Sellers using an EDLP pricing strategy often communicate their strategy through the creative use of a reference price.

False

Slotting allowances are used to get retailers to feature a manufacturer's product in their advertising and promotional efforts.

False

The computer-to-computer exchange of business documents from a retailer to a vendor and back is referred to as vendor-managed inventory (VMI).

False

The expression "3/10, n/30" means that a business must pay 3 percent of the total invoice amount in 10 days, with the remainder due in 30 days.

False

The improvement value method and the cost of ownership method are both cost-based pricing methods.

False

Martin has hired a market research company to bring together a small group of soft drink consumers and get feedback on the three new advertising slogans his firm is considering. The market research firm might conduct a__________ to provide the information Martin has requested.

Focus group

Frederica manages an upscale women's clothing store. She wants more information about her customers' general feelings about upcoming fall fashions. Frederica will most likely use __________ to gather this type of data.

Focus group reviews

Tyree is concerned about a competitor's new line of outdoor barbeque grills that provide most of the same features as his products. Tyree might consider using __________ to gather qualitative information from consumers about the competitor's offerings.

Focus groups

a clear, distinctive, and desirable understanding of their products relative to competing products.

For each target market, General Imaging Corporation, a manufacturer of imaging equipment, will engage in positioning, adjusting their marketing mix variables in order to give customers

Domestic firms developing a global entry strategy might consider franchising; however, the disadvantages need to be considered. Which of these is NOT a disadvantage of franchising?

Franchising is the riskiest way to enter a foreign market.

Which of the following is NOT one of the major trade agreements affecting global marketing?

GNI

True

Giant Food Stores in suburban Washington, D.C., adjusts its ethnic food aisle offerings based on the ethnic groups living near each store. Giant Foods is using geodemographic segmentation.

occasion segmentation

Godiva Chocolates produces specially decorated boxes of candies for Valentine's Day, Easter, and Christmas. This is an example of

quantitative

In the infamous Coke-New Coke taste test, 54 percent of consumers, using a blind taste test, preferred the New Coke formula to the existing formulation. This is an example of a(n) __________ market research method.

Zan wants to collect considerable information about the current opinions of his ten most important customers. Zan will probably use the __________ research method.

In-depth interview

Nadia stood outside the mall and asked people which stores they visited and if they bought anything. If they said yes, she asked them what they bought and how they came to the decision to buy that item. What form of research was Nadia most likely conducting?

In-depth interviews

When the detailed opinions of a few industry experts or experienced consumers are needed, __________ are often the best qualitative research method.

In-depth interviews

Which of the following research methods would be best in helping a marketer understand how people feel about a product or service on an individual, detailed level?

In-depth interviews

Which of the BRIC countries has the highest illiteracy rate?

India

Which of the following is currently a negative factor for foreign investment in India?

India's infrastructure for supply chain management is not up to date.

Which of the following is currently a negative factor for foreign investment in India?

India's infrastructure for supply chain management is not up-to-date

Which statement about India's population is TRUE?

India's workforce is highly skilled, particularly in technology.

__________ offer an inconsistent assortment of brand-name merchandise at low prices. Department stores Specialty stores Category killers Off-price retailers

Off-price retailers

What happens in a pull marketing strategy?

Orders for merchandise are generated at the store level based on sales data captured at POS terminals.

Commercial research firms like ACNielsen and SymphonyIRI Group are sources of

Syndicated data

Panel data

In a corporate vertical marketing system

Participants-such as warehouses, transportation companies, and retail outlets-are typically owned by a parent company to ensure harmonious relations throughout the supply chain

John used to work for a large, well known retailer. He left that company to work for a such smaller company, and in doing so, he discovered that the channel functions were handled very differently in the smaller firm. Looking back at his experience, he noticed that larger firms.

Perform many different channel functions themselves.

6 types of power

Power exists when one firm has the means to dictate actions of another member. 1. Reward: offers monetary or other incentive 2. Coercive: threatens punishment 3. Referent: one member wants to be associated with another 4. Expertise: leverages influence with expertise 5. Informational: holds information to get other members to do what it wants 6. Legitimate: contractual agreement

When a research team has gathered data for specific research needs, this is known as

Primary data

Social media monitoring, in-depth interviews, and focus groups are all __________ research methods.

Qualitative

After defining objectives and research needs, the next step in the marketing research process involves

Research design

In questionnaire design, a question such as, "When was the first time you went to a dentist?" suffers from the problem of a question that

Respondents cannot easily or accurately answer.

Franz lives in a country where he and his friends have disposable income, in spite of the fact that their average income is $650 per month, because they have no debt and don't save money. Franz most likely lives in

Russia

Which country is projected to become Europe's largest online market in the next few years, with Internet users growing at a rate of 15 percent annually?

Russia

Which of the following is currently a negative factor for foreign investment in Russia?

Russia is known for corruption, creating ethical dilemmas for firms.

Both major political parties have developed proprietary databases that contain vast information about voters, broken down by demographic and geographic information. This kind of information is

Secondary data

Which of the following statements best describes secondary data?

Secondary data are pieces of information that have been collected prior to the start of the focal research project

are part of a firm's marketing strategy.

Segmentation, targeting, and positioning

__________ distribution intensity helps a seller to maintain a particular image and control the flow of merchandise into an area. Intensive Endogenous Selective Collective

Selective

Sell totally new products or services.

Which of the following is NOT one of the guidelines for developing a market research questionnaire?

Sensitive questions should be asked first.

Janelle is shopping for a unique outfit for a special benefit dinner dance. She wants it to sparkle and shine, but still feel light, silky, and comfortable. For the highest satisfaction, Janelle likely should.

Shop in traditional retail stores.

Of the following, the best example of a category killer is

Staples

Of the following, the best example of a category killer is Dollar General. Staples. Kohl's. Target.

Staples

Malcolm is the campaign manager for a congressional candidate. He wants to know how voters across his district feel about recent sexual harassment scandals involving politicians. Malcolm will most likely use __________ to gather this type of data.

Surveys

Jalel is the marketing manager for a moderately well-known rock band. He wants to know more about industry trends, including sales by different musical styles, online downloads, and concert attendance. Jalel will most likely use __________ to gather this type of data.

Syndicated data

demographic

Television advertising has recently expanded to include "mini-ads," which are short ads lasting five to ten seconds. These ads are most useful in advertising to men, since men are more likely than women to channel surf during commercial breaks. This type of advertising will be more useful to marketers engaged in __________ segmentation.

Ford Motor Company decided to sell the Fiesta around the globe. Which of the following would be an example of glocalization of the Fiesta?

The same product design and features in all countries, with variations in the promotional campaigns country by country.

What is neuromarketing?

The use of EEG scanners to measure consumers' brain waves

Cheryl wants to quickly establish a dominant market share for her new line of ergonomic pens. To do this, she will likely use a market penetration pricing strategy.

True

Cost-based methods do not recognize the role that consumers' or competitors' prices play in the marketplace.

True

Coupons may annoy, alienate, and confuse consumers and therefore do little to increase store loyalty.

True

In a direct marketing channel, there are no intermediaries between the buyer and the seller.

True

In the four Ps of marketing, place refers to all the activities required to get the right products to the right customer when that customer wants it.

True

Kristina sells sports equipment and wants to get customers into her store. She knows from past experience that sales generate customer traffic, particularly when she puts children's baseball equipment on sale. Kristina may consider a leader pricing strategy.

True

Marketing channel management creates value by getting products to customers efficiently.

True

Marketing channel relationships evolve when the parties have common goals.

True

Price lining is setting a price floor and a price ceiling for a line of products and then setting price points in between to represent differences in quality.

True

Radio frequency identification (RFID) tags automatically transmit information about a container's contents or individual products.

True

The Robinson-Patman Act does not apply to end consumers, at which point many forms of price discrimination occur.

True

The vertical marketing system that exhibits the most formalization and control is the corporate vertical marketing system.

True

When a retail store rarely sells deeply discounted or sale products, it is known as "everyday low pricing."

True

When manufacturers such as Pampered Chef sell directly to consumers, they perform both production and retailing activities.

True

When two competing retailers have a disagreement, it is an example of a horizontal channel conflict.

True

Wholesalers are often used in an indirect marketing channel.

True

concentrated

When Penguin Catering Services first opened, the owner decided to target only events at resorts in its geographic region. Penguin Catering was using a(n) __________ targeting strategy.

True

When companies store information on customers' purchase histories in large computer files, this is known as data warehousing.

positioning

Whenever Donald calls on potential pest control customers, he emphasizes the fact that, unlike the national franchise competitors, he is a local business person and has been in business over twenty years. Donald is __________ his business relative to his competition.

Political consultants have been using market research for decades to help their candidates understand

Who makes up the voting public and how to reach them.

Which of the following is an example of an unstructured question?

Why did you buy this product?

Pull marketing strategy

With a pull marketing strategy, customers pull the product into the marketing channel by demanding it. Therefore, with a pull marketing strategy, there is less likelihood of being overstocked or out of stock because the store orders merchandise as needed on the basis of consumer demand.

If you're a manufacturer, and you want to showcase your product in a store that has a narrow but deep selection of merchandise and where sales associates can assist customers with their selections, you'd likely choose a category specialist. a specialty store. a department store. an extreme value retailer.

a specialty store.

The United States imports more goods from China than it exports to China. This is known as

a trade deficit.

Culture affects

a. every aspect of consumers' purchase decisions

Especially in the fashion industry where styles and trends change rapidly, a quick response system can _____.

align deliveries more closely with sales

In most cases, countries use tariffs to reduce foreign competition, but tariffs are also used

as a response to perceived unfair trade practices.

Retail checkout scanning systems create a tremendous amount of purchasing information usually stored in a company's

data warehouse

which country has embraced market-oriented economic development in spite of maintaing communist political ideals

china

with a median age of 34.1 years is one of the most rapidly aging countries

china

Marketers sometimes use Hofstede's cultural dimensions to design marketing campaigns

consistent with underlying cultural values in a country.

With a median age of 34.1 years, ________ is one of the most rapidly aging countries in the world.

consistent with underlying cultural values in a country.

global tsp are more complicated because

consumers may view their roles differently in different countries

For brick-and-mortar retailers, when making decisions regarding "place," a key ingredient to success is product placement promotion. convenient locations. private-label merchandise. off-price placement. .

convenient locations.

Zappo's Online Store has a Unique Way of Dealing with Abandoned Shopping Carts. If a Site Visitor Places Items into their Shopping Cart & Leaves the Site Without Making a Purchase, Several Days Later Zappos Sends a Humorous E-Mail Saying "Let Us Show You What Your Shopping Cart Did While You Were Gone." Along With a Photo of a Cute Dog Intended to Represent a Shopping Cart. This AGD Is Designed to Improve the Site's _________

conversion rate

of the five strategies for entering new markets direct investment

creates the greatest potential risk

Marketing research includes all of the following EXCEPT

creating data

Marketing research includes all of the following EXCEPT

creating data.

What Do Marketers Need to Focus On When Targeting Both Consumers or Resellers?

creating value for their customers

If a firm declared that it wanted to develop a strategic relationship, but was unwilling to commit funds or any effort to make it succeed, there would be an obvious lack of ____.

credible commitments

In a __________ distribution center, merchandise moves from vendors' trucks to retailers' delivery trucks in a matter of hours.

cross-docking

Exchange control refers to the regulation of a country's

currency exchange rate.

Market research begins with

defining objectives and research needs

What are Primary Data?

data collected to address specific research needs

Supermarkets collect information about individual customers through their use of loyalty cards, and then analyze the data to look for patterns in purchases. This is an example of

data mining

Through Analysis of Sales Data, Price-Cutters Retail Store Found that Customers Who Bought Peanut Butter Also Tended to Buy Bananas. What was Price-Cutters Engaged In?

data mining

Distribution sellers

facilities for the receipt, storage and redistribution of goods to company stores or customers; may be separated by retailers, manufacturers or distribution specialists

Charles wants to survey recent customers about the quality of service they received at his small auto service dealership. He has customers' mailing and e-mail addresses. Charles will likely use an online survey primarily because it offers

fast responses at a lower cost.

direct investment global entry strategy

firm maintains total ownership of its plants operation facilities and offices in a foreign country

Globalization refers to the process by which goods, services, capital, people, and ideas

flow across national borders.

A(n) __________ is a small group of people brought together for an intensive discussion of a topic

focus group

focus group interviews

Gandolph's Tires sells the same tire globally, but it uses different advertisements based on the country and culture. This is an example of

glocalization.

Of the five strategies for entering new markets, direct investment creates the

greatest potential risk

Some companies want to get their products into as many outlets as possible, understanding that the more exposure a product gets, the more it will sell. If this is consistent with the company's overall strategy, it will choose __________ distribution. exclusive intensive selective primary independent

intensive

When Creative Pen Company designed a new pen that was particularly comfortable to use, it wanted to, literally, get the pen in the hands of as many consumers as possible. Creative Pen will probably choose __________ distribution for its new product. intensive exclusive selective collective

intensive

Distribution intensity is commonly divided into three levels: intensive, exclusive, and selective. primary, secondary and tertiary. administered, vertical, and independent. global, national, and local.

intensive, exclusive, and selective

When supply chain members view their goals and ultimate success as intricately linked, or ________, they develop deeper long-term relationships.

interdependent

Vertical channel conflict

members of the same marketing channel (like manufacturers, retailers) are in disagreement

Today, most successful retailers concentrate on providing more value to their best customers. limited service to all but their best customers. equal service to all customers. extreme value to their least loyal customers.

more value to their best customers.

most important strategy in global market should be

needs of target market

Administered vertical marketing system

no common ownership or contractual relationships, but then dominant channel member holds the balance of power

What is Marketing Information?

organized, analyzed, interpreted data that offer value to marketers

A Restaurant Chain is Working on Improving the Quality of Its Food and Service. To Track its Progress, it Recruits Customers Who Agree to Respond to Customer Satisfaction Surveys once Every Three Months for the Next Two Years. What Kind of Data Collecting is This?

panel data

A restaurant chain is working to improve the quality of its food and service. It recruits customers who agree to respond to customer satisfaction surveys once every three months over the next two years, to track its progress. What kind of data is the restaurant chain collecting?

panel data

Corporate vertical marketing system

parent company has complete control and owns multiple segments of the channel

Walmart is known for its efficient logistical systems. Every time consumers buy something, that purchase is recorded and sent to company headquarters, where it is used to generate reorders to vendors. In addition, customers' billions of purchases are analyzed using data mining techniques to uncover

patterns of consumers' purchasing behavior

patterns of consumers' purchasing behavior.

John used to work for a large, well-known retailer. He left that company to work for a much smaller company, and in doing so, he discovered that the channel functions were handled very differently in the smaller firm. Looking back at his experience, he noticed that larger firms perform many different channel functions themselves. have less control in the channel. are generally less efficient. spend more money wastefully.

perform many different channel functions themselves.

What are Secondary Data?

pieces of information that have been collected PRIOR to the start of the focal research project

Gross national income equals GDP

plus the net investment income earned from abroad.

negative factor for investment in china

population is aging rapidly

If you are a marketer for a manufacturer, and the marketing mix for your product focuses on very specific market segments, you'd like to sell your product through department stores. category specialist stores. extreme value retailers. specialty stores.

specialty stores

Steven managed an auto parts store in the 1990s. At that time, stock-outs—failure to have the parts auto mechanics needed to do their work that day—increased the likelihood of the mechanics becoming customers of competing auto supply stores. To avoid this problem and keep his business customers, Steven most likely _____.

stockpiled inventory, adding to the cost of providing auto parts.

Retailers address the conflict between consumers wanting or needing only one item and manufacturers wanting to produce and ship in quantity by providing reciprocity. simplicity. discounting. storage.

storage.

Which of the following global entry strategies is being used if a company collaborates with a competitor on a globally based opportunity for mutual benefit, but the competitors do not invest in each other?

strategic alliance

direct investment

strategy in which the firm owns property and equipment in foreign market and has control of the business operations

changes in what have been a driving force for growth in global markets for decades

technology

marketers considering operations and trade with a specific country must consider whether the country belongs to a trading bloc. a trading bloc is a group of countries

that have established a formal agreement to manage trade activities

Marketers considering operations and trade with a specific country must consider whether the country belongs to a trading bloc. A trading bloc is a group of countries

that have established a formal agreement to manage trade activities.

In questionnaire design, a question such as, "Marketing is the best part of the business program, isn't it?" suffers from the problem of a question

that leads respondents to a particular response.

GDP is defined as

the market value of goods and services produced in a country in a year.

The most important consideration, when a firm chooses a global product strategy, should be

the needs of the target market

The most important consideration when a firm chooses a global product strategy should be

the needs of the target market.

What is the Conversion Rate?

the percentage of customer's who buy a product after viewing it

Wholesalers sell to all of the following EXCEPT businesses. manufacturers. retailers. consumers.

the quiz said the right answer was customers but it doesn't make sense... shouldn't it be manufacturers

Getting merchandise floor-ready entails ____.

ticketing and marking

What is Typically True Regarding B2B Buyers and Potential Suppliers?

typically, B2B buyers ask potential suppliers to submit formal proposals

geert hofsetedes cultural dimensions concept focuses on five dimensions of what in a country

underlying values

global businesses often find it particularly difficult to understand the what of a countries cultures

underlying values

what two pieces of socicultural factors could go wrong in a campaign

visible artifacts and underlying values

Chris laughed at some of the cultural mistakes companies made in advertising and promotion in international trade while he was in school. Now he was trying to determine what had gone wrong with the campaign he had planned in Latin America for his company's product, and it didn't seem quite as amusing. He narrowed the issues down to sociocultural factors. He was looking at both __________ and __________.

visible artifacts; underlying values

reverse innovation

when an innovation is first developed in the developing world and then moves to developed countries

BUS 346 Chapter 10, BUS 346 Ch 8, chapter 8 marketing, Exam 3

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