Marketing Final
A recent meeting of the Council of Logistics Management Professionals featured an executive from HP, which is known for its ability to customize computers to customers' needs as well as the ability to provide quality products through its retail channel. The executive discussed the firm's capabilities regarding the ability to produce products that are "built-to-order" and noted that recent customer insight showed customers were less willing to wait 7 to 10 days to receive their computer even though it was built to their specifications. As a result of this customer trend, HP began forging relationships with retailers such as Best Buy to provide a limited number of computer models in the retailers' stores. In order to fulfill the orders to Best Buy, HP was required to make changes in its production and manufacturing such as holding more products in inventory and utilizing different modes of transportation. For example, HP was able to shift from a focus on air transportation to over-the-road trucking, which enabled it to cut costs in some areas. As HP shifted from a "build-to-order" manufacturer to a "make-to-stock" manufacturer, it also had to make investments in customer analytics to identify customer needs as well as collect insight regarding pricing. This customer insight was especially important to the retail partners like Best Buy, which requires its vendors to justify product stock decisions and provide proof that retail inventory will sell at the projected price points. HP's ability to modify its business model by forging relationships with retailers such as Best Buy as well as customer insights has helped the company achieve its revenue and profitability goals. Refer to Scenario 1.3. Based on the information provided regarding HP, which orientation would best describe its approach to marketing?
market orientation
Alicia is concerned about the effectiveness of Jeroboam, Inc.'s promotional messages and is seeking an approach with immediate feedback. Alicia is most likely to achieve this through
personal selling
Under a licensing arrangement, the licensee pays commissions or royalties on sales or supplies used in manufacturing.
true
Moon is setting a price for her store's newest item. She purchased the item for $45 and decides to sell it for $54 using markup pricing. If she wanted to calculate the markup as percentage of cost, it would be ______________. If she wanted to calculate the markup as the percentage of the selling price, it would be ______________.
20%, 16.7%
A certain location of Hamish's restaurant has annual fixed costs of $200,000. If an average tab at the restaurant is $60 and the variable costs per tab is $20, how many groups of customers must Hamish's serve per year in order to break even?
5000
Which of the following statements is true about breakeven analysis?
At the breakeven point, the firm's sales revenue equals the sum of its fixed and variable costs.
Major Babineaux hired Green Acres, a local landscape firm, to plant trees and shrubs in his front yard. The landscape is beautiful when the company is done; however, in just a few days many of the plants begin to die. When Major complained to the manager of Green Acres, the manager says that Major must have done something to them that caused the plants to die, such as overwatering them. Green Acres doesn't have any money-back guarantees. Major is angry that he can't get a refund or replacement. At this time, Major's best course of action would be to contact the
Better Business Bureau
Which of the following statements does NOT apply to convenience goods?
Consumers are brand loyal to convenience products and are not likely to substitute other brands
______ does not necessarily take into account supply and demand, but it is straightforward and easy to implement.
Cost-based pricing
Of all the federal regulatory units, the ____ most heavily influences marketing activities.
FTC
A marketer that targets customers based on marital status and the presence and age of children is using
Family life cycle
Which of the following is NOT an example of the implementation of the marketing concept?
McDonald's reduces the labor costs to produce its sausage-egg biscuits
An example of an emerging type of power shopping center might contain
Michael's, Office Depot, T.J. Maxx, and Best Buy
Use the following to answer the question. Outdoor Sporting World (OSW), a national chain, has been doing business with Casper Sports, a manufacturer of skateboards, for several years. Recently, it came to the attention of OSW's financial director that the average cost per Casper Sports skateboard had substantially increased over that of the previous year. The financial director asked the marketing department if they knew what the Casper skateboards cost at competing sporting goods stores, to see if they too were likely hit with a higher cost. The marketing department found that the Casper skateboards were priced at $15 less in the competing store than at OSW. The financial director found that Casper Sports was selling a similar number of skateboards to one of OSW's competitors for $10 less per skateboard. The attorney for Outdoor Sporting World immediately filed a complaint with the Federal Trade Commission. Refer to Scenario 3.1. Suppose that the Casper Sports company was actually discriminating against Outdoor Sporting World with its price increase. Which of the following acts prohibits this type of business behavior?
Robinson - Patman
Which of the following products is an example of a manufacturer brand?
Sony tvs
You are a senior sales and marketing analyst for a major retailing firm in Idaho. The marketing manager just stopped by your office with a very frustrated look on her face. She tells you that she is confused as to why, every time the company raises the sales price of its products, total revenue for the company declines. Based on this information, which of the following explanations do you give her for why this situation occurs?
The demand for the company's products is elastic, so total revenue declines when prices are raised.
Why would a company use the undifferentiated strategy?
The needs of individual consumers in the target market for a specific product are similar, so the organization can satisfy most customers with a single marketing mix
The marketing concept is best defined as
a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.
A major advantage of using individual branding is that
a poor-quality product will not contaminate all of the company's other products with negative images
If Albertsons Market advertise 2-liter bottles of Coca-Cola for 89 cents to generate store traffic so that shoppers will purchase other items at regular prices, the grocer is using
a price leader
Business products that are purchased routinely, do not become part of finished goods, and are expense items rather than capital goods are called
accessory equipment
One overlooked internal source of secondary marketing information discussed in the text is
accounting records
A product mix is best described as
all products offered by a firm
If a company is introducing a brand into a market where it already has one or more brands, it would likely choose which of the following bases for positioning the new product?
avoiding competition pricing
As Alicia enters Autio car electronics department, she is asked by the salesperson if she has seen the new plug-in cell phones with coffee-warming app. She answers that she didn't know that this type of app for cars was available. Based on this information, she is now in what stage of the product adoption process for this item?
awareness
Positive Trends Co segments its diet pills based on those who have morning cravings, those who tend to overeat near the end of the day, those who need all day long appetite suppression, and those who want appetite control and more energy. This is an example of market segmentation based on variables of
behavioristic
Coors may choose to segment its market based on heavy, moderate, and light drinkers of its alcoholic beverages. This is an example of market segmentation based on
behavioristic variables
Which of the following is the division of a market according to end results that consumers want from the product?
benefit segmentation
Everything associated with the product, including its symbolism and experiences is the____________.
brand
When Aisha and Darius are planning their honeymoon, their travel consultant tells them that if they buy a special package, their trip to Paris will include meals, tickets to the theater, and a rental car in addition to airfare and a hotel. This is an example of the use of
bundle pricing
A Dell laptop that has an "Intel" logo on its keyboard is an example of
co branding
To prevent channel conflict, producers or other channel members may do all of the following except
combine reseller markets
Octavia runs a local ice cream stand and is developing a new type of ice cream sundae. She just sent a press release to the local newspaper and featured the new sundae on her Facebook page and Instagram account. Based on this information, Octavia is most likely in the _____ stage of the new-product development process.
commercialization
If Ben & Jerry's calculates that it could sell up to 25% of all ice cream cones sold in the United States, this percentage would represent the ice cream marketer's
company sales potential
Which of the following describes the relationships among the three planning levels, from broadest to narrowest?
corporate strategy; business-unit strategy; marketing strategy
In addition to the proliferation of new organic brands, many conventional marketers have introduced organic versions of their products, including Gatorade, Kraft Heinz, and even Kroger. These firms are responding to changes in
cultural values
The focal point of all marketing activities
customers
During the hot, humid months of July and August, Pinewood Links Golf Course, located in Georgia, offers weekday rates of $13 for a round of golf with a cart. During the rest of the year, the weekday rates are between $25 and $35. This is an example of the use of
demand based pricing
After the advertising budget is determined, the next step in creating an advertising campaign is
developing the media plan
______ developed on a large scale in the early 1950s, when postwar production caught up with strong consumer demand for goods
discount stores
LG management decided to use skimming as a pricing strategy for its newest line of high-definition television (HDTV) sets. It should be aware that this strategy does NOT
discourage competitors from entering the market
Changing the hours of operation for a service business involves the ____ component of the marketing mix.
distribution
Issues of inventory levels and storage costs are both concerns relating to the ____ variable of the marketing mix.
distribution
When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n)
expert forecasting survey
Information from the U.S. Census Bureau is commonly used as ____ by a variety of agencies and organizations.
external secondary data
A differentiated targeting strategy is when the organization targets two or more markets by developing a single marketing mix.
false
An individual's after-tax income is called his or her discretionary income, which is used for spending and/or saving.
false
An undifferentiated targeting strategy does not target a single market with one marketing mix.
false
Because of service perishability, it is difficult to price services in a manner that takes into account fluctuations in demand
false
Concept testing gives reliable feedback, but at a relatively high cost
false
If Progresso were to offer single-serving packages of soup, it would be using segmentation based on
family life cycle
Marketers generally view ____ as the minimum price a product can be sold for.
fixed and variable costs
If a marketing researcher is interested in observing group interaction during an informal, unstructured, and open-ended data collection process, he or she should use
focus group interview
Chrisjen Nagata and seven other people were paid to get together and discuss a new product idea proposed by Procter & Gamble. Researchers observed the interaction of the group. During the discussion, Chrisjen was annoyed that Sadavir, another participant, seemed to "hog" the discussion and didn't give others a chance to speak. This is an example of a problem when using
focus group interviews
Discretionary income is used for all of the following except
food
Systems such as Claritas and PRIZM provide companies with lifestyle and demographic information about neighborhoods throughout the United States. This information is used to aid
geodemographic segmentation
Chrysler is producing a new seven-passenger SUV with all-wheel drive. Which of the following would be the best variables for segmenting the market for this new model?
geographic location and family life cycle
Which of the following variables would most likely be used to segment a business market?
geographic location of company
Organizations should define themselves not according to the products they produce but according to
how they satisfy their customers
Use the following to answer the questions. Cheetos Fat-free Crunchies is a product developed through advanced technology. Cheetos engineered a technique for making reduced-fat snacks that taste cheesier and stay fresh longer. About 18 months after the manufacturer launched Cheetos Fat-free Crunchies, a competitor ran a series of ads claiming that Cheetos Crunchies actually contained 1.5 grams of fat and that they contained preservatives and additives. Research showed that the taste of Cheetos Crunchies was also perceived negatively by some people. To save the product, Cheetos reduced the remaining fat to 0 grams, took out the preservatives, and improved the taste. Refer to Scenario 12.1. Suppose that Cheetos stops production of Cheetos Fat-free Crunchies and sells all of its remaining inventory to a warehouse club. This would be an example of a(n)
immediate drop decision
According to Maslow's hierarchy of needs,
individuals first satisfy the most basic needs and then try to fulfill needs at the next level up.
Within the buying center, ____ are technical personnel who develop product specifications and evaluate alternatives, while _____ actually choose the products.
influencers, deciders
The three levels of brand loyalty from strongest to weakest are
insistence, preference, recognition
When charitable organizations such as the American Cancer Society, Second Harvest Food Bank, and the Red Cross make purchases for goods and services to use in their daily operations, they would be considered to be _______ buyers.
institutional
A product under nonprice competition would most likely NOT succeed in the market if
it is easy to duplicate
Which one of the following is most likely to be a product for which both the purchasing decision and the brand decision are strongly influenced by reference groups?
jeans
Mitchell's smartphone is two years old and he would like to have a new one. This time, he wants to make sure that it has a longer battery charge and better geographic coverage since he is traveling three days a week for his new job. Mitchell is most likely to use _____ for this purchase.
limited decision making behavior
The three most widely recognized types of consumer decision making are
limited problem solving, extended problem solving, and routinized response behavior
Cyberdyne Industries' clever promotion campaign, which included YouTube videos of its artificial intelligence software in action as well as clever tweets and Instagram posts, helped boost the firm's product sales. This would suggest that Cyberdyne is using which of the following competitive strategies?
market penetration
Herbal Organics used actor and former NFL player Sweet Dave Brown to act as its spokesperson as the "Herbal Organics Man." It filmed humorous videos of the actor that went viral online. Herbal Organics saw sales of its deodorants increase substantially from the previous year. What type of competitive growth strategy did Herbal Organics use?
market penetration
The total volume of a product, for all firms in an industry, that would be purchased by specific customer groups within a specified time period at a given level of industry-wide marketing activity, is the
market potential
Sales usually start to decline during the ____ stage of the product life cycle.
maturity
Nike manufactures athletic shoes, shorts, shirts, and a variety of other athletic products. These products make up Nike's product
mix
Most business purchases can be classified as belonging to one of three types:
modified rebuy, new-task, or straight rebuy.
Products such as light bulbs, canned soft drinks, and ice cream sandwiches are usually priced using ______, which usually results in a ______.
multiple unti pricing, lower per unit price
Marisol recently put her house on the market at an asking price of $260,000. She realizes, however, that in order to sell the house, she may have to use
negotiated pricing
Cameras, counting machines, and scanners are used most often in
observation
If Kashi, the maker of Go Lean breakfast cereal, wants to know what percentage of customers examine product labels before making a product selection in the grocery store, it can best gain this information through
observation
Three primary methods of collecting information for environmental scanning are
observation, secondary sources and marketing research
The four major competitive structures are
oligopolies, monopolies, monopolistic competition, and pure competition
Which of the following is NOT a factor cited in the text that affects the strategy for selecting a target market?
organizational structure
All of the following are pricing strategies used by companies establishing prices of multiple products within a product line except
penetration pricing
Which of the following would be used in setting the price of a new product if considerable competition is expected?
penetration pricing
When marketers emphasize price as an issue and match or beat the prices of other companies, they are using
price competition
Which of the following pricing strategies often results in a retailer losing money on the product?
price leader
The pricing strategy that assumes that demand is relatively inelastic over certain price ranges is called
price lining
The newest version of a product like Crutchfield headphones is likely to use _____, while the new version of Monster Energy is likely to use _____ .
price skimming, penetration pricing
Reference pricing is
pricing a product at a moderate level and positioning it next to a more expensive model or brand
Making modifications to packaging or brand names involves the ____ component of the marketing mix.
product
Keira is a member of the product development team at a company that manufactures sports equipment. During a recent meeting, one of the team members asked, "What level of quality are we building into the camping gear?" Based on this question, Keira and her team are most likely in the ____ phase of new-product development
product development
Dove introduced new products made for the skin, including a men's deodorant, men's body wash, and a men's moisturizer. These are an example of a _________. The men's moisturizer is called Men+Care Ultra Hydrating Cream. This is an example of a __________.
product line, product item
Consumers receive the benefits of place utility when
products are available in locations where consumers want to buy them
Your company has a product that is struggling in its market. However, the product appears to have some strength left that can be exploited. Which of the following product deletion actions would be most appropriate for the product?
reduce the price and implement a run out strategy
A Kohl's manager designs the casual clothing department such that one of Kohl's private label pairs of jeans, priced at $44.99, is positioned next to a national brand of jeans, such as Levis, priced at $59.99. What is the manager attempting to accomplish?
reference pricing strategy
In business markets, individuals or groups purchase products for one of three purposes. These purposes are
resale, direct use in producing other products, and use in daily business operations
During the 1920s, competition increased and businesspeople realized they had to do more than just focus on manufacturing, which led to the ____ orientation.
sales
The final step in the target market selection process is
selecting specific target markets
Which of the following is NOT one of the major categories of consumer market segmentation variables?
situational variables
Another common name for a private distributor brand is a ____ brand.
store
Amos Holden runs a successful wholesale business that sells equipment to restaurants throughout the Southwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about
the best ways to distribute his products
The primary value that a marketer expects to receive from a customer in an exchange relationship is
the price charged for the product
Coca-Cola has in recent years developed or acquired new non-cola products to appeal to changing consumer preferences for less sugar in their products. The most likely factor in this change is changes in
the sociocultural forces of the marketing environment
Multichannel distribution is characterized as
the use of a variety of marketing channels to ensure maximum distribution
Pricing objectives should be stated explicitly, stated in measurable terms, and specify a
time frame for achieving them
The forecasting techniques that assume past sales patterns will continue into the future are all variations of
time series analysis
The forecasting techniques that assume past sales patterns will continue into the future are all variations of
times series analysis
If a product has an inelastic demand and the manufacturer raises its price,
total revenue will increase
Which of the following best illustrates how a firm can use a symbol to make an intangible product more tangible?
travelers insurance umbrella
A marketer's use of framing can make a product characteristic seem more important to a consumer and can facilitate its recall from memory.
true
Demand-based pricing relies on information concerning peak demand times and off-peak demand times
true
In vertical integration, control is expanded to two or more successive links of production or distribution
true
The line between different marketing channels is becoming increasingly blurred
true
Warehouse showrooms are able to sell products at low prices by passing some of their marketing functions on to consumers
true
When evaluating the alternatives, the buyer rates and eventually ranks the brands in the consideration set.
true
Promotion can help sustain interest in established products that have long been available.
true
The marketing concept is a philosophy that a business organization should employ to satisfy customers' needs while achieving the overall goals of the organization.
true
Levitz Furniture locates in huge, low-cost buildings; maintains large, on-premises inventories; and offers minimum service. Levitz is a
warehouse showroom
When we speak of the number of product lines that a company offers, we are referring to the ____________ of the company's product mix.
width
According to the marketing concept, an organization should try to
provide products that satisfy customers' needs and allow the organization to achieve its goals
A retailer of Degree antiperspirant prices it at $4.00; it costs the retailer $3.50. What is the approximate markup as a percentage of selling price?
12.5%
Elif and Nick recently purchased a 25-year-old home and are currently undergoing a kitchen remodel, which includes replacing countertops, cabinets, and kitchen appliances. They are shopping for appliances and visited several retailers to compare prices and determine which brands best met their requirements. One retailer is offering the GE brand refrigerator, cooktop, built-in oven, dishwasher, and warming drawer for $5,999, while another retailer has a set of LG appliances that includes a larger refrigerator, range/oven combination, dishwasher, and wine cooler for $5,450. Elif and Nick are meeting with their kitchen designer to finalize their plans for the kitchen and think that either one of these packages will fit their requirements. The appliance retailers are utilizing a ______ pricing strategy.
bundle
Marianna tells Rajesh that she likes his team's idea about a new three-lace running shoe but wants him to put together some figures regarding anticipated sales, costs, and resulting profits. She is asking Rajesh to proceed to which stage of the new-product development process?
business analysis
The problem with using an undifferentiated strategy to market a "universal car" is that
car buyers have heterogenous needs
The director of marketing for Duck Brand tells the rest of the management team, "When it comes to our duct tape unit, our strategy will be to use funds generated here to support our venture in the industrial bonding market." This strategy indicates that the duct tape unit falls into which one of the following classifications?
cash cow
Use the following to answer the questions. Suppose that Maui Jim is considering a new line of sunglasses that would be sold in major department stores. The new line would be positioned as a more distinctive brand than the typical sunglasses sold through department stores, and would be priced higher than other brands in the store, but a lower price line than the current Maui Jim lines that are sold through more specialty stores. In determining the price for this sunglass line, Maui Jim wants to gather information about all brands sold in department stores and about customers' perceptions of those brands. Refer to Scenario 20.1. Maui Jim's plan of gathering information about the other brands sold in department stores, including their prices, would most likely be used in a ____ basis for pricing.
competition
When Subaru's advertising campaign mentions the Subaru Forester being named a 2018 IIHS Top Safety Pick, it is using _______ advertising.
competitive
After several children became ill while playing with toys imported from outside the United States, medical researchers found several illegal chemicals, including lead in the paint. These toys were sold primarily through websites on the Internet. Which of the following agencies would most likely have jurisdiction over the problem with lead in the paint of children's toys?
consumer product safety commission
Esteem needs are the highest level in Maslow's hierarchy of needs.
false
Fixed costs vary with the number of units produced or sold.
false
Public relations is a set of tools to be used primarily during crises
false
The absolute dollar outlay for advertising is usually low
false
The coordination of selling efforts within a community shopping center is usually minimal.
false
The in-home (door-to-door) interview is an example of a focus-group interview.
false
The marketing concept directly affects marketing activities but should have negligible impact on other organizational activities.
false
Stars are profitable products that usually generate more cash than is required to maintain share.
false
The marketing concept directly affects marketing activities but should have negligible impact on other organizational activities.
false
Dorito's has expanded to Nacho Cheese Doritos, Cool Ranch Doritos, and Salsa Verde Doritos, to name a few. These are examples of
line extensions
Zoe is planning to open an upscale dress boutique. She is evaluating ease of movement to and from sites, vehicular traffic, types of stores in the area, and transportation networks. Which strategic retailing issue is she concerned with at the time?
location
Shopping products have a ____ inventory turnover and need ____ distribution outlets than convenience goods.
lower, fewer
When Frito-Lay introduced its Stax brand of potato chips. These chips were meant to compete directly against Pringles. The intent was to gain market share quickly. During the first few months they were on the market, Stax retailed for 69 cents. What type of pricing strategy is Frito-Lay likely using?
penetration pricing
Use the following to answer the questions. Suppose that Maui Jim is considering a new line of sunglasses that would be sold in major department stores. The new line would be positioned as a more distinctive brand than the typical sunglasses sold through department stores, and would be priced higher than other brands in the store, but a lower price line than the current Maui Jim lines that are sold through specialty stores. In determining the price for this sunglass line, Maui Jim wants to gather information about all brands sold in department stores and about customers' perceptions of those brands. Refer to Scenario 20.1. Given Maui Jim's plan for positioning the new sunglass line, it should use a ____ strategy when introducing its new product.
price skimming
Trader Joe's sells primarily Trader Joe's-labeled grocery products in its retail stores. The Trader Joe's brand is not sold in any other outlet. Trader Joe's is a ____ brand.
private distributor
The five major stages of the consumer buying decision process, in order, are
problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation
Individuals and business organizations that purchase products for the purpose of making a profit either by using the products to produce other products or by using them in their operations are classified as ____ markets.
producer
When Shaw Industries develops new carpet fibers that are highly stain-resistant and durable, it must educate consumers about the product's benefits. This calls for activity in which of the following marketing mix variables?
promotion
Price leaders, comparison discounting, and special-event pricing are applications of
promotional pricing
When a cable television company uses bundling to combine phone, cable TV, and broadband internet access into a package with a single price, it is attempting to influence a consumer's perception of price to make a product's price more attractive and reduce "sticker shock." This is an example of using a ____ pricing strategy.
psychological
Dillard's wants to learn about its consumers' attitudes toward online purchases. There are numerous studies that are available about consumers and online buying, but Dillard's believes its customers might be different from the usual online consumer profile, so it decides to conduct its own study. If Dillard's were to use the available data about consumer attitudes, it would be using ___ data; however, if Dillard's does its own study it would collect ______ data.
secondary, primary
The three major categories of influences on the consumer buying decision process are
situational influences, social influences, and psychological influences
To be truly useful for sales analyses, marketers must compare current sales data with forecasted sales, industry sales, specific competitors' sales, and
the costs incurred from marketing efforts to achieve the sales volume
The concentrated targeting strategy is one in which an organization directs its marketing efforts toward a single market segment through one marketing mix.
true
The distribution variable in a marketing mix is directed toward making products available in the quantities desired to as many target market customers as possible and keeping the total inventory, transportation, and storage costs as low as possible.
true
The marketing concept is a management philosophy, not a second definition of marketing.
true
The two general approaches to measuring company sales potential are the breakdown and the buildup approach.
true
The purpose of market segmentation is to
divide a total market to enable a marketer to develop a more precise marketing mix
For most firms in the United States, demand curves are
downward sloping to the right
The major characteristic of a private brand is that
manufacturers are not identified in the product
A group that has the willingness, ability, and authority to buy a product is a
market
The metal used to construct the body of a bicycle would be _________________. The bicycle seat would be a __________________.
raw materials, component part
If a product has an inelastic demand and the manufacturer raises its price
total revenue will increase
Cost-based pricing results in a high price when demand is high and a low price when demand is low
false
Discount stores are distinctive in that they usually are very service oriented.
false
Dissatisfaction may occur shortly after a purchase; this is called cognitive dissatisfaction.
false
Distribution decisions have little influence on the rest of the marketing mix
false
When Smartsheet, a producer of software, delayed the introduction of its new app to modify the package, its scheduled TV advertisements announcing the new product needed to be revised. In this case, a change in the ____ variable caused changes in the ____ variable of the marketing mix.
product, promotion
People for the Ethical Treatment of Animals (PETA) has demonstrated against the sale of coats made of animal furs. PETA's efforts to change shoppers' attitudes most directly represents a ____ force for fur retailers.
sociocultural
Organizations that opt to set ______ run the risk of de-emphasizing price as a competitive tool, potentially leading to a climate of nonprice competition, like that in which professionals such as accountants and attorneys often operate.
status quo objectives
During the Industrial Revolution demand for manufactured goods was
strong
Which of the following is NOT a service product?
tennis racket
Many products never get beyond the introduction stage.
true
Marketing intermediaries bridge the gap between suppliers (or producers) and buyers (or consumers)
true
Procter & Gamble has a wider product mix than does Baskin Robbins.
true
Promotion can assist salespeople in finding likely sales prospects.
true
Promotion decreases in importance during a product's decline stage
true
Sellers of farm produce would be likely to use an undifferentiated targeting strategy.
true
