Marketing Final

Fads are characterized by their ________.

unusually high sales and rapid decline

The growth of the Internet caused many traditional companies to ________ in response to customer demands and a changing marketplace.

use omni-channel retailing

Which of the following is a desirable quality for a brand name?

The name should translate easily into foreign languages.

________ can describe a product class, a product form, or a brand.

The product life cycle concept

Which of the following is true of consumers in the new marketing communications model?

They are better equipped to find product and brand information on their own.

Which of the following statements is true of consumer promotions?

They include a wide range of tools like samples, coupons, and refunds.

Which of the following applies to a marketing intermediary who buys brand name toothpaste from 10 different manufacturers, consolidates offerings, and then resells the various brands to 500 supermarkets in Florida?

Transform the assortments of products made by producers into the assortments wanted by consumers.

________ includes all the activities involved in selling goods and services to those buying them for resale or business use

Wholesaling

Online visitors can't buy anything at ESPN.com. Instead, the site creates a virtual experience for sports enthusiasts and fans that can be customized to meet their needs. This is most likely an example of a(n) ________.

branded community Web site

A convenience store ________.

carries a limited line of high-turnover goods for consumer self-service

The promotion of products and services through printed material with multiple pages that sell multiple products has been traditionally referred to as ________ marketing.

catalog

Which of the following is a traditional direct marketing tool?

catalog

Introducing a new product into the market is called ________.

commercialization

A(n) ________ is the variable amount in a salesperson's compensation

commission

A ________ contains between 15 and 50 retail stores, including a department or variety store, a supermarket, specialty stores, professional offices, and sometimes a bank

community shopping center

AirNetwork, a telecommunications company, sponsors a rock concert by a famous band in order to further its brand visibility. This is an example of a(n) ________.

event marketing program

Many athletic stadiums enter into contractual agreements with national beverage companies and food franchises to distribute only their brand-name products at the respective venues. This is an example of ________.

exclusive dealing

An off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer's surplus, discontinued, or irregular goods is called a ________.

factory outlet

Denta Clean's decision to add a whitening toothpaste to its current line of toothpastes is an example of product line ________

filling

A product life cycle has five distinct stages: product development, introduction, growth, maturity, and ________.

decline

A ________ is made up of a company, its suppliers, distributors, and, ultimately, customers who "partner" with each other to improve the performance of the entire system.

value delivery network

Clenzo is a company that provides house cleaning services in major urban and suburban areas. Marketers at Clenzo developed a short, humorous video promoting the company's services and hope that customers who see the video will be so entertained that they will pass the video on to their friends and colleagues. The marketers at Clenzo are using techniques to facilitate ________.

viral marketing

Electronics Storage is a wholesaler that holds inventories, thereby reducing carrying costs and risks for both suppliers and customers. Which channel function does Electronics Storage primarily provide?

warehousing

Which of the following is an example of a horizontal conflict in a distribution channel?

A Ford car dealer complaining that another Ford dealer is underpricing the same models.

Which of the following statements is true of a product sales-force structure?

A product sales-force structure is characterized by specialization along product lines.

Which of the following is most likely true of a product in the maturity stage of the product life cycle?

A slowdown occurs in sales growth.

Which of the following is true of advertising in the new marketing communications model?

Advertisers are increasingly shifting toward digital media

Which of the following is most likely a difference between advertising and sales promotion?

Advertising can be used to build up a long-term image for a product while sales promotion effects can be short lived.

________ involves using an existing brand name for a new product category.

Brand extension

________ products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.

Convenience

_______ uses buyers' perceptions of what a product is worth as the key to pricing.

Customer value-based pricing

Which of the following statements is most likely true about the new product development process?

Customers, competitors, distributors, and suppliers are major sources of new product ideas.

Which of the following is a disadvantage of using a magazine as an advertising medium?

It involves high costs.

Which of the following is a shortcoming of advertising?

It only provides one-way communication with customers.

________ occurs when a company uses its existing brand name for new forms, colors, sizes, ingredients, or flavors of an existing product category.

Line extension

________ are sets of interdependent organizations that help make the product or service of a company available for use by consumers or business users.

Marketing channels

________ involves combining two or more systems of transportation to move products.

Multimodal transportation

________ might appear anywhere on an Internet user's screen when a user is browsing through an article, and they are often related to the information being viewed.

Online display ads

________ is the only element in the marketing mix that produces revenue.

Price

_______ refers to the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use.

Retailing

Which of the following is true about the introduction stage of a new product?

Sales growth tends to be slow.

________ refer to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible.

Services

Which of the following is an example of a firm utilizing public relations as a promotion tool?

a firm providing interesting information about a product to the news media

________ is defined as a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service.

brand

The salesperson should know how to meet and greet the buyer and get the relationship off to a good start in which step of the selling process?

approach

Los Amigos, a new Mexican restaurant, has set up shop across the street from Hot Tamales and More. Which of the following pricing strategies will Los Amigos likely use?

competition-based

More than 80 percent of McDonald's restaurants worldwide are owned and operated by franchisees. This illustrates a(n) ________ marketing system.

contractual vertical

Kallton is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its Web site that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Kallton is using ________ to generate new product ideas.

crowdsourcing

The relationship between the price charged for a product and the resulting demand level can be shown in a(n) ________.

demand curve

Which of the following are the fastest-growing forms of marketing?

direct and digital

Studio 19 is a dance studio geared to adults who want to learn ballroom and Latin dance. When individuals call the studio, they're encouraged to access the Web site to receive a $25 e-coupon entitling them to a free half hour of dance instruction. Once they become patrons, text messages are sent to share news about featured dance instructors and upcoming special events. Which of the following promotion mix tools does Studio 19 employ to reach target customers?

direct marketing

Eric Dylan is the marketing director of a charity that raises funds to help provide educational services to children and families in developing countries. Eric targets a selective market of individuals who have recently donated to international charities by sending letters with charity information and donation instructions. Eric uses ________ in this scenario.

direct-mail marketing

Mind and Body Fitness recently entered into a financial agreement that allows 25 independent business people at select locations across the country to set up establishments that offer its holistic services and programs. They include weight-management, group programming, sport-specific training, yoga, Pilates, and nutrition. Which type of contractual retail association does this represent?

franchise organization

Charging higher prices on an everyday basis, coupled with frequent sales and other price promotions to increase store traffic, create a low-price image, or attract customers who will buy other goods at full prices is referred to as ________ pricing.

high-low

Which of the following steps of the new product development process would most likely use an R-W-W framework?

idea screening

Moving products and materials from suppliers to the factory is known as ________ logistics.

inbound

A 30-minute or longer advertising program on television that markets a single product is called a(n) ________.

infomercial

Inglast, a chocolate producer, is faced with a class action suit when customers found pieces of plastic in boxes of cocoa powder. Inglast settles the case and then releases an advertising campaign to show the new and improved safety seals on all containers of cocoa powder. Which kind of advertisement has Inglast most likely used?

informative

A doctor performing hip surgery on a patient illustrates how a service can be produced and consumed simultaneously. This is an example of which service characteristic?

inseparability

Producers of convenience products and common raw materials typically seek ________ distribution — a strategy in which they stock their products in as many outlets as possible.

intensive

Which link in the service profit chain emphasizes superior employee selection and training?

internal service quality

Green Gardens sells gardening and landscaping goods and equipment. The marketing department places an unmanned machine in the store with touchscreen technology to provide product information. Consumers can use this machine to learn about the company's products and services. The company's marketing form is best referred to as ________ marketing.

kiosk

Appliance maker Whirlpool assigns individual teams of salespeople to big retail customers such as Sears, Lowe's, Best Buy, and Home Depot. Each Whirlpool sales team aligns with the large customer's buying team. Whirlpool has most likely adopted a ________ sales-force structure.

market

The first generation Apple iPod was introduced in 2001 and sold for $500. The following year a mini version was introduced for $250. Apple initially used a ________ strategy to price their digital music innovation

market-skimming

Under ________, the market consists of many buyers and sellers trading over a range of prices rather than a single market price.

monopolistic competition

Computer World sells laptops separately from accessory products like docking stations, anti-virus software, and external hard drives. This is referred to as ________ pricing.

optional-product

Fred's, a national supermarket chain, sells its own brand of items across all categories. Such items are considered ________ brands.

private

GE employs different sales forces within different product and service divisions of its major businesses. For example, within GE Infrastructure, the company has separate sales forces for aviation, energy, transportation, and water processing products and technologies. GE has most likely adopted a ________ sales-force structure.

product

A detailed version of a product idea stated in meaningful consumer terms is a ________.

product concept

Which of the following sets the lower limit for a product's pricing?

product costs

Vac "N" Sew, a consumer electronics outlet, offers a price reduction of $100 when customers bring in a used vacuum cleaner and exchange it for a new vacuum cleaner or sewing machine. This is an example of a ________.

trade-in allowance

Karen Rogers is a salesperson for Solar Panels Inc. She attends builder trade shows to identify potential customers in an effort to build long-term profitable relationships. Karen Rogers is engaging in which step of the selling process?

prospecting

In which of the following promotion tools does a customer send a proof of purchase to a manufacturer, who then refunds part of the purchase price by mail?

rebate

When Toyota announces a product recall on its Camry model due to a faulty igniter, they are using ________ to coordinate with dealers and car owners.

reverse logistics

In a marketing communications mix, ________ refers to any short-term incentive that encourages the purchase or sale of a product or service.

sales promotion

Grace and her fiancé visit several furniture stores in and around their hometown of Milwaukee. They use their smartphones to capture information about manufacturers and pricing, and ultimately decide to purchase their favorite items online. This is referred to as ________.

showrooming

The ________ style of advertising shows ordinary people clearly using a product in a normal setting.

slice of life

Which type of retailer typically carries deep product assortments of narrow product lines?

specialty stores

Movie theaters charge matinee pricing during the daytime, and resorts give weekend and seasonal discounts. This is illustrative of a ________ pricing strategy.

time-based

Sales promotion tools used to persuade resellers to carry a brand, give it shelf space, promote it in advertising, and push it to consumers are collectively called ________ promotions.

trade