final exam, marketing

Which of the following statements about handling objections is true?

A salesperson should view objections as requests for more information.

________ occurs when product or service producers cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones.

Disintermediation

Which of the following statements is most likely true of public relations?

It can have the same impact on public awareness as advertising at much lower costs.

________ is a person's pattern of living as expressed in his/her psychographics, and it includes the individual's activities, interests, and opinions.

Lifestyle

Which of the following is true about the customer sales force structure?

Separate sales forces are set up for different industries, serving current customers versus finding new ones, and serving major accounts versus regular accounts.

Calypso Motors recently rolled out its hatchback, Proteus. Proteus combines the attractiveness of a luxury car with the excellent agility of a sports car. Calypso Motors is confident that Proteus will appeal to both sports car enthusiasts as well as the luxury segment. Which of the following types of market segmentation is evident here?

benefit segmentation

Consumer perceptions of the product's value set the ________ for prices.

ceiling

Which of the following is a major disadvantage of a multichannel system?

channel conflict

During the _____ stage of the new-product development process, production starts, inventories are built up, the product is shipped to distribution points, the sales force is trained, and advertising and promotion begin.

commercialization

To measure the ________ effects of an ad after it has aired, the advertiser can evaluate how the ad affected consumer recall, product awareness, and preference.

communication

Pandora's Box is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of a few segments or niches. Pandora's Box most likely uses which of the following marketing strategies?

concentrated marketing

FridgeAssist uses a market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each is known as ________.

differentiated marketing

Advertisers are often concerned with the noise level in a medium. The medium that is assumed to have the lowest noise level is:

direct mail

Right after closing, Joshua, a senior sales manager at Halcyon Technologies called up the customer to ensure that she was satisfied with Halcyon's products. By calling the customer, Joshua also wanted to ensure repeat business. In this instance, Joshua is in the ________ stage of the selling process.

follow-up

Claritas uses hundreds of demographic variables in its PRIZM system when classifying residential neighborhoods. This system breaks down over 250,000 neighborhood areas in the United States into 66 types based on consumer behavior and lifestyle. Each of the types has a name that theoretically describes the type of people living there, such as Upward Bound, Boomtown Singles and Monday and Brains. PRIZM is an example of ____________.

geodemographic segmentation

The phase of the product life cycle in which healthy profits usually begin to appear is the _____ stage.

growth

The management of two Panizza restaurants have an ongoing disagreement over the discount rate given to students from the local high school. This is an example of ________ conflict.

horizontal

When Procter & Gamble (P&G) developed the Mr. Clean Magic Eraser, the company needed to explain how the product cleans grime from walls without removing paint. What type of campaign was most likely used by P&G for the Mr. Clean Magic Eraser?

informative advertising

For which of the following would a company use an exclusive distribution strategy?

luxury cars

TelStar Plastics is in the process of dividing a market into distinct groups of buyers with different needs, characteristics, and behaviors who might require separate products or marketing programs. Which of the following is this firm doing?

market segmentation

PowerPak sets a low price for a new product in order to attract a large number of buyers and a large market share. It is using the ________ strategy.

market-penetration pricing

The Grocery Tracker sets a high price for a new product with the intention of reducing the price in the future. It is using the ________ pricing strategy.

market-skimming

Which stage in the Product Life Cycle normally lasts longest and poses strong challenges to marketing managers?

maturity

PowerPak sells its backpacks directly to consumers via its Web site, and through local retailers as well. Which of the following is evident here?

multichannel distribution system

The buying decision process starts with ________, in which the buyer spots a problem.

need recognition

Recent research of cell phone features (e.g., calendar, push-to-talk, text messaging) used a two-dimension _____ with the axes ranging from low- to high-technological advancement and high-entertainment to high utility to show how the products are perceived by consumers.

positioning map

"To women consumers, from all ages and income, who want to treasure, cherish, and carry their special memories with them always, Charmed is a jewelry company that provides top value and satisfaction to our customers as we journey with them in capturing their special moments through our two different levels of customization." This is an example of a(n) ________.

positioning statement

Melissa Price is a member of the sales force at Urban Fashions, a Houston-based manufacturer of women's apparel. Melissa is preparing for a first meeting with a wholesaler who is a potential customer. She is learning as much as she can about her prospect and his organization. Melissa is in the ________ step of the personal selling process.

preapproach

South Africa's Competition Commission accused South African Airways of conspiring with its partner, Germany's Lufthansa, to set prices on flights between Cape Town, Johannesburg, and Frankfurt. As a result, the two airlines were charged with:

price fixing

A product in the maturity stage will most likely require ________ advertising.

reminder

For which of the following products would the intensive distribution strategy most likely be used?

soft drinks

Which of the following is most likely an objective of informative advertising?

tell the market about a new product

Sara Lee, the maker of Ball Park franks, has decided to introduce its new Ball Park hot dog buns in a limited market consisting of only four cities and to closely monitor the reactions of potential customers to the product and marketing program. Sara Lee is going to use:

test marketing