Connect Chapter 9

Which of the following functions are included in supply-chain management?

Control of parts, work in progress, and finished goods Management of information throughout the supply chain Movement of raw materials

Some of the advantages of online advertising are:

It allows companies to learn more about their customers It pushes customers to a website to learn more about products

Which step is the final step of an effective social media campaign.

Measuring the effectiveness of the campaign

Which of the following is an example of word-of-mouth promotion?

People sharing a clever commercial with other people Telling people through the Internet about a product you've purchased

___ is one of the most difficult of the four Ps for a manager to control, since it is such a critical ingredient in consumer perceptions of the value of a product.

Price

___ ___ is the creation of real or perceived differences in goods or services.

Product Differentiation

Which is true of wholesalers versus retailers:

Selling products to a school or hospital to run their business is considered a wholesale transaction Selling products to customers who will ultimately use them for themselves is a retail transaction

True or false: Price and cost are not always related.

True

True or false: Value means that customers perceive a product as a good quality at a fair price.

True

True or false: When a company uses advertising to reach a large audience, followed by a targeted distribution of coupons that encourage customer feedback on social media, they are managing the marketing mix.

True

Which of the following are characteristics of advertising?

Uses various media Non-personal communication

A reason why marketing intermediaries such as transport companies and wholesalers have survived is that they:

add enough value to products to outweigh the added costs

Paid, non-personal communication through various media by organizations and individuals who are in some way identified in the message is known as ___.

advertising

A ___ is a name, symbol, or design that identifies the goods or services of one seller or group of sellers.

brand

The value of the brand name and associated symbols is referred to as ___ ___.

brand equity

A firm is at the ___-___ point when revenue is equal to all costs.

break even

Demand-based pricing is based on what customers are willing to pay for a product due to its perceived value, not the ___ of producing it.

costs

After marketers know who they are going to target, the other steps in a social media campaign that follow are to:

create good images, develop hashtags, engage customers, follow-up with customers

As an important first step in a social media campaign, marketers should make sure they know their

customer or target, base or market

Retailers who sell goods and services to ultimate consumers over the Internet are engaged in:

electronic retailing

Television advertising offers many advantages to national advertisers, but it is a relatively ______ form of advertising.

expensive

During the growth stage of the product life cycle, sales and profits mostly:

increase

When marketers target future buyers with sampling, coupons, and rebates while using publicity to target all customers in a particular region, they are exhibiting ___.

management of the promotion mix

A brand manager manages all elements of a product line or the brand's ___ ___.

marketing mix

Social media allows marketers to ___ customer web activity to gain valuable marketing information.

measure

Marketers who seek to differentiate their products by promoting attributes such as safety or the brand name are using:

nonprice competition

When marketers use the internet to sell goods and services, they are participating in ___ retailing.

online

The creation of real or perceived product differences is called:

product differentiation

Companies rarely sell one product, but offer a ___ ___.

product line

A firm that purchases goods from a manufacturer and then sells those goods or products to final consumers is considered a(n) ___.

retailer

Marketing intermediaries who sell to ultimate consumers are:

retailers

A marketer trying to stimulate consumer purchasing and dealer interest by means of short-term activities is likely to use ___ ___ as an incentive.

sales promotion

Knowing what ___ of the product life cycle a product is in helps marketers make intelligent and efficient marketing decisions.

stage or phase

The process of managing the movement of goods from raw materials to the ultimate consumer and any necessary returns or recycling is:

supply-chain management

Everything that consumers evaluate when deciding whether to buy something is referred to as the ___ ___ ___.

total product offer

True or false: Sales promotions stimulate consumer purchasing and dealer interest by means of long-term activities.

False (Reason: activities are short-term)

True or false: Grouping two or more products together and pricing them as a unit is called stacking.

False: correct answer: bundling

A name, symbol, or design that identifies the goods or services of one seller or group of sellers is called a:

brand

The value of the brand name and associated symbols refers to:

brand equity

A person responsible for one brand or product line is called a ___ ___.

brand manager

Direct responsibility for all aspects of a product line or a brand including the marketing mix is the role of the ___ ___.

brand manager

The point where revenues from sales equal all costs is called the:

break-even point

Grouping two or more products together and pricing them as a unit is called ___.

bundling

The pricing strategy in use when a firm prices products based on consumer demand is called:

demand-oriented

When airlines charge higher prices for seats in the Economy section Exit rows that have more leg room, they are using which pricing strategy?

demand-oriented

The primary ___ of television advertising is its high cost.

disadvantage

The distribution strategy that puts the product into as many outlets as possible is a(n) ___ distribution strategy.

intensive

When marketers place a product in as many retail outlets as possible they are using a(n) ___ distribution strategy.

intensive

___ tend to add value that is greater than the cost to incorporate them into the supply chain.

intermediaries

List the stages of the product life cycle from beginning to end with the earliest stage at the top.

introduction growth maturity decline

The reason why price is hard for marketing managers to control is because:

it is an important part of the total product offer it is a critical way in which customers evaluate a product

The stage in a product's life cycle when it may become a "me too" product, and marketers need to communicate what makes it different from others products is called the ___ stage.

maturity

An advantage of online advertising over other forms of advertising is that is allows companies to

measure traffic on a website by keeping track of customers clicks

Companies usually offer a product line instead of just one product to:

meet the competition appeal to similar consumer markets tailor their offerings more closely to consumer wants

Independently owned firms that take title to the goods they handle are known as ___ wholesalers.

merchant

When a firm is independently owned and takes title of the goods they handle, they are said to be ___ wholesalers.

merchant

___-___ competition does not use price as a major promotional appeal, but instead stresses consumer benefits and product style.

non-price

When a person uses face-to-face presentations to promote goods and services, he is said to be using ___ ___ as a sales technique.

personal selling

The function of distribution is represented in the 4 P's of the marketing mix as ___ utility.

place

The "P" of marketing, which includes shipping, transportation, storage, logistics, and supply-chain management, is known as:

place or distribution

When a company pays to put products into TV shows and movies where they will be seen by consumers, they are using a strategy called product ___.

placement

When a firm establishes a single ___ and promotional strategy that it can implement worldwide, it is creating a global advertising campaign.

product

One of the four P's of marketing encompasses all the techniques sellers use to motivate people to buy their products and it is referred to as ___.

promotion

The promotional tool that stimulates consumer purchasing and dealer interest by means of short-term activities is known as sales ___.

promotion

___ consists of all the techniques sellers use to motivate people to buy their products.

promotion

The face-to-face presentation and promotion of goods and services is known as personal ___.

selling or sales

The pricing strategy that calls for a new product being priced high to make optimum profit while there is little competition is called a(n) ___ price strategy.

skimming

When a firm prices a new product very high to make optimum profit while there is little competition, it is said to be using:

skimming price strategy

Marketers use social media for a variety of things including

testing ads before being implemented in traditional media measuring customer interest by keeping track of "likes" and "clicks" developing customer relationships by listening on feedback threads

Recognizing what stage of its life cycle a product is in has a direct impact on marketers' decisions about:

the marketing mix (strategy)

Good quality at a fair price is the definition of ___

value

Staples acts both as a ___- operating in the B2B environment - and as a ___ in the B2C environment is

wholesaler, retailer

When people talk to each other about positive and negative experiences with products this is called ___-___-___ promotion.

word of mouth

An advantage of global advertising is saving money. However, global advertising can have serious disadvantages such as:

language and culture differences difficulties creating one message for different cultures different buying habits in many countries