Marketing final

When marketers use the buyers' perceptions of what a product is worth as the key to pricing the product, the marketer is using this pricing strategy:

Customer value-based pricing

The objective of this type of research is to gather preliminary information that will help define the problem or provide information to determine if marketers want to pursue a possible opportunity is:

exploratory

the primary purpose of using marketing intermediaries is

help move goods between producers and retailers.

Brandy's, a national candy store chain decides to open both a coffee house and ice cream shop within their stores to create multi-faceted experience for shoppers. The company decides to enter into deals with two well-known retailers -- The Beanery and Creamery Creations. As stipulated in their respective contracts, the Beanery and Creamery Creations cannot enter into the same type of agreement with any other candy retailers. All three companies will enjoy greater sales, and ultimately profits, from the arrangement. This is most likely an example of a(n) _____________ marketing system.

horizontal

Which type of market segmentation is generally used by marketers who sell luxury products for the affluent segments of a population?

income

When a market increases the price of a product 10% and finds the price increase has virtually no effect on the demand of the product , we know this product is?

inelastic

The marketing manager at ABC restaurants, a chain of 10 restaurants, in different locations in new york, target customers who are working to lose weight. The restaurants chain offers a wide variety of low-fat, low-calorie, meals that appeal to dieters. ABC's approach to segmentation is:

psychographic

The most common research instrument, whether administered in person, by phone, by e-mail, or online, is the ________.

questionnaire

when building customer value with a given product or service identify and explain product decisions a marketer has to create customer value

satisfaction

Information collected from online databases on the Internet is an example of ________ data.

secondary

Which of the following sources constitutes the internal database of a company?

the company's sales records

Which of the following transforms marketing strategies into real values for consumers?

the four Ps of marketing

I perform all the activities in selling goods or services to those who buy for resale or business use. I am a

wholesaling

Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up and coming professionals. Harry's most likely segments the consumers market based on ____________ variables.

Demographics

Dextora Technologies manufactures microprocessors and caters exclusively to private manufacturers that produce high-end computers. Which type of market does Dextora directly target?

Dextora targets business markets.

High-end luxury brands like bentley for cars, Louis Vuitton for handbags, and Rolex for watches give a limited number of dealers the sole right to sell products in a specified geographic territory. the distribution strategy is:

Exclusive

which of the following statements in most likely true about the product life cycle?

Growth is a period of rapid market acceptance and increasing profits

Which of the following conditions is most likely essential for implementing a successful market-penetration pricing strategy for a product?

The market for the product is highly price sensitive.

Unlike other car rental agencies that are based in airports to serve travelers, Wheelz-On-Rent has a network of neighborhood offices. The firm strives to serve people who need car rentals for reasons other than vacation, such as when their own cars are being repaired. Wheelz-On-Rent caters to a small share of the large car rental market. From this description, it can be concluded that Wheelz-On-Rent most likely practices ________.

concentrated marketing

This marketing environment is a study of the human population that would include generational group,changes of the American Family and diversity to name a few. These examples are part of the:

demographic environment

Port Orleans Shipping markets different services to the tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called _____ marketing.

differentiated

Mary Kay Cosmetics and Amway sell their products through home and office sales parties, online websites, and social media. Both companies us a(n) ______________ channel to distribute their offerings.

direct

This type of retailer creates value by offering a significant assortment of a very limited number of product lines

discount retailers

For over ten years, Erudite, a publishing and educational company that produces college textbooks, has been selling its books online through studysmart.com, a popular online retailer that sells textbooks published by different companies. Recently, Erudite stopped selling its books through studysmart.com and set up its own website for selling its books. This change in channel organization is called ________.

disintermediation

Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization.

macroenvironment

Craft Inc.'s Krayons is a multi-color chalk material that was released in the market over a century ago. Since the release, the company has had remarkable sales and Krayons has remained unchanged. However, over the last few years, sales of Krayons have been stagnant. Competitors have begun marking prices down, and increasing their advertising and sales promotions. Craft's Krayons is most likely in the ________ stage of the product life cycle.

maturity

_____________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

positioning

The ultimate goal of customer relationship management (CRM) is to:

produce customer equity 1. capture new leads and move them through the sales process 2. support and manage relationships with current customers to maximize their lifetime value to the company 3. boost productivity and lower the overall costs of marketing, sales, and account management

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept.

production