Markom Quiz

A negative aspect of selecting unit volume as a pricing objective is that

If price reductions are used to achieve volume objectives, it can sometimes come at the expense of profits

Marketing synergies often come at the expense of product synergies because:

A single customer segment will likely require a variety of products

If Tasmania levied a duty on all goods purchased from the United States and other countries outside its borders that were brought into Tasmania, its businesses and citizens would be paying a:

Import tariff

Regarding the factors that marketers consider when selecting a brand name, which one does the toilet bowl sanitizer 2000 Flushes best fulfil?

Indicating the product's major benefits

Regarding the factors that marketers consider when selecting a brand name, which one does the toilet bowl sanitizer 2000 Flushes best fulfill?

Indicating the product's major benefits

The rate at which the general level of price for goods and services is rising, and, subsequently, purchasing power is falling. Central banks attempt to stop this and to keep the excessive growth of prices to a minimum.

Inflation

The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. Central banks attempt to stop this in an attempt to keep the excessive growth of prices to a minimum.

Inflation

A firm's product is at the stage of product life cycle where distribution is very limited, a penetration pricing strategy is being used, and promotion is designed to inform. At which stage is the product?

Introduction

What do most companies today focus on when it comes to protecting the environment?

Investing heavily in pollution prevention

Hallmark placed its scrapbook supplies, photo albums, and related supplies into one product group because:

It helped buyers relate to the products and make decisions in a more meaningful way

Which of the following statements about labeling is FALSE?

Labeling is used to describe the product

Figure 1, above. Is a graphical representation of the diffusion of Innovation. The consumers represented by D are called

Late majority

If Caterpillar wished to reach the market in Malaysia but was hesitant to use direct investment in the country, it might provide a Malaysian operation with the knowledge to produce and market its products in exchange for a commission. This type of arrangement is called:

Licensing

When a consumer purchases products occasionally or needs information about an unfamiliar brand in a familiar product category, he or she will most likely engage in:

Limited problem solving

Brunswick's bowling balls, bowling bags, and shoes are product _____ for this sporting goods manufacturer.

Lines

When a marketer is engaged in the target market selection process and has assessed relevant market segments by considering such factors as sales estimates, competition, and estimated costs, the marketer is ready for the next step which is to

Select specific target markets

Many marketers use a concept related to personality - a person's ____. The idea is that people possessions contribute to and reflect their identities - that is "we are what we consume".

Self-concept

Many marketers use a concept related to personality - a person's _____ . The idea is that people's possessions contribute to and reflect their identities - that is "we are what we consume".

Self-concept

The American Marketing association argues and debates that the most effective way of improving ethics in research is through:

Self-regulation

Which of the following is NOT a major trend in the area of customer service?

Service contracts (extended warranties) are increasing in importance to most customers because producers are reducing standard warranties

Converting socially responsible ideas into actions involves careful planning and monitoring of programs. Many companies develop, implement, and evaluate their social responsibility effort by means of a/an:

Social audit

A consumer's buying decisions are affected in party by the people around him or her. Such people and the forces they exert on an individual buyer are called:

Social influences

A consumer's buying decisions are affected in party by the people around him or her. Such people and the forces they exert on an individual buyer called

Social influences

A company is designing a new car that wants to sell to various socioeconomic segments. The best type of marketing sample would be a/an:

Stratified random sample

A marketing researcher selects a sample that is one-half randomly selected males and one-half randomly selected females. This is a:

Stratified sample

As part of her company's SWOT analysis,Valerie is assessing the company's internal environment, including:

Strengths and weaknesses

What is the marketing objective for the growth stage of the product life cycle?

Stress differentiation

Taking steps to encourage customer loyalty is one way to

Sustain an advantage over competitors

Sunny Delight is aimed at mothers with children under age twelve. These mothers represent Sunny D's:

Target market

For years, when considering new products, marketers at Celestial Seasonings asked themselves, "What would Stacy think?". Stacy was a factional character representing 25-50 year old, educated, upper-income women who rarely watched television but did a lot of reading. "Stacy" represented Celestial's primary_______.

Target market segment

After identifying various market segments that her company could pursue, Lisa evaluated each segment's attractiveness based on size, income, and accessibility. Lisa was involved in:

Target marketing

Cross-functional teams are used by many organizations to improve new product development programs. Which one of the following is the most accurate conclusion about using such teams?

Teams should be ongoing, rather than just a one-short effort.

A trademark signifies

That the owner has exclusive use of a brand and others are prohibited from using it

Omar is responsible for marketing and marketing research for a mid-sized manufacturer of assemblies for the housing market. His boss has asked him to cut back expenses, especially in marketing research, "Why can't you just use information off the Internet? There's plenty out there." What is Omar's best response to try and get his boss to change his mind?

That's secondary data and it may not be as timely, accurate and relevant as what we need. Our decisions may not be as good, and we'll run a huge risk.

Which of the following is a disadvantage of using online, mobile, and social media for advertising?

The audience controls ad exposure

Derived demand refers to:

The demand for industrial products and services that is driven by the demand for consumer products and services

Some banks have begun offering special accounts designed to attract junior high school students. These kids save in such small amounts that the accounts cost banks more to maintain than they are worth. But bankers know that consumers are creatures of habit and hope that the young people they now serve will become adult consumers. These banks recognize:

The lifetime value of customers

Some banks have begun offering special accounts designed to attract junior high school students. These kids save in such small amounts that the accounts cost banks more to maintain than they are worth. But bankers know that consumers are creatures of habit and hope that the young people they now serve will become adult customers. These banks recognise:

The lifetime value of customers

Customer relationship management refers to:

The process of identifying prospective buyers, understand them intimately, and developing favourable long-term perceptions of the organisation and its offerings so that buyers will choose them in the marketplace

Which of the following is most likely to tre (?) about salespeople in a field of sales force?

They build relationships with customers by travelling to see them

A firm's profit equation demonstrates that profit equals _____

Total revenue - Total cost

A firm's profit equation demonstrates that profit equals

Total revenue-total costs

A word, phrase, symbol, and/or design that identifies and distinguishes the source of the goods of one party from those of another. It should be protected so that others don't have the right to copy or use it.

Trademark

When Minute Maid mailed out free samples of its new instant drink mix, it was trying to move prospective customers into the ____ stage of the product adoption process.

Trial

Companies often serve middle-priced markets to reduce risk when initially marketing their product lines. Adding items to these lines eventually increases profits. The strategy of adding both higher priced and lower priced items to a product line is called

Two-way stretching

An agreement in which a vendor conditions the sale of a particular product on a buyer's promise to purchase an additional, unrelated product

Tying arrangement

An appliance manufacturer that sells to large retail stores, wholesalers, and institutions would probably organise its marketing department on the basis of:

Type of customers

When a sudden problem confronts a consumer, such as emergency auto mobile repair, he or she is likely going to view solutions to that problem as

Unsought products

A well-defined and persuasive marketing statement related to a specific product or service that details the reasons why a consumer would benefit from purchasing it. For example, for AirBnB Welcome home-rent unique places from local hosts in 190+ companies.

Value proposition

A well-defined and persuasive marketing statement related to a specific product or service that details the reasons why a consumer would benefit from purchasing it. For example, for AirBnB: Welcome home - rent unique places from local hostels in 190+ companies.

Value proposition

This organisation promotes trade by reducing tariffs and other international trade barriers. It also imposes international trade sanctions and mediates global trade disputes.

WTO

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

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

Managing the limits of an organisation's resources, such as its labour force, manufacturing and office space, technology and equipment, raw materials and inventory is referred to as

capacity management

Setting a price for products that must be used with a main product, such as blades for a razor and games for a video game console is called:

captive pricing

In which of the following steps of the selling process does a salesperson ask a buyer for an order?

closing

The practice of using the established brand names of two different companies on the same product. Example: Nike + iPod sport kit:

co-branding

If general Mills looks at Kellogg's cereal prices as the primary method of determining its own prices, General Mills is using

competition-based pricing

Which of the following is the largest form of online advertising?

contextual advertisements

Which type of channel arrangement does a franchise organisation most likely to follow?

contractual vertical marketing system

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

convenience products

A hardware store owner places an advertisement for Sylvania LED light bulbs in the local newspaper. Sylvania provided the store owner with several high-quality, camera-ready sample advertisements. In addition to supplying the advertising to supplying the advertising formats, Sylvania also paid 50 percent of the cost to place the ad in the paper. Sylvania was using _____ to promote its products.

cooperative advertising

A/ an _____ marketing system combines successive stages of production and distribution under single ownership, where channel leadership is established through common ownership.

corporate vertical

This pricing method ignores consumer demand and competitor prices so it tends to not be very effective. However, it is still popular since sellers are more certain about costs than about demand.

cost-plus pricing method

The showing of computer data in the form of graphics using 3 dimensional models as opposed to text or formulas is called

data visualisation

The method in which consumer response to various price points in a range of prices is analyzed to arrive at the highest acceptable price.

demand based pricing

Large, self-service stores that carry a complete line of food products and some non-food products are called

department stores

Product mix _____ refers to the number of versions offered for each product in the line. For example: Campbell's soups come in seven varieties ranging from Campbell's condensed soups and Campbell's chunky soups to Campbell's Select Harvest soups and Campbell's Healthy Request soups.

depth

A company that uses telephone marketing to sell its products to customers is most likely using the promotion tool of _____.

direct marketing

The process in which printed catalogues, brochures, samples, and DVDs are distributed to customers using highly selective mailing lists is known as _____.

direct-mail marketing

For most firms in the United States, demand curves are:

downward sloping

The objective of ____ advertising is to build primary demand

informative

____ advertising is used heavily when introducing a new product category.

informative

_____ advertising is used heavily when introducing a new product category.

informative

Zephyr Inc., an electronic manufacturer, wants to enter the commercial tracking device market with its latest product, FindIt. Unlike other tracking devices, FindIt is very small and relatively cheap, but it can be used only within small areas as it has a low detection-range. Which type of advertising would be best for FindIt?

informative advertising

Zephyr Inc., an electronics manufacturer, wants to enter the commercial tracking device market with its latest product, Findlt. Unlike other tracking devices, Findlt is very small and relatively cheap, but it can be used only within small areas as it has low detection-range. Which type of advertising would be best for Findlt?

informative advertising

Corell Inc. has an online tool that offers a wide variety of Corell shoes for direct purchase. The tool even allows customers to individually design their shoes. Which of the following has Corell most likely used?

marketing web site

Marketing strategists argue that all products go through stages, such as growth and maturity. The model used to assess products' behaviour during their time in the marketplace is known as the:

product life cycle

Unsolicited and unwanted commercial e-mails is referred to as _____.

spam

In web design, this term refers to anything about a website that encourages a visitor to stay longer

stickiness

Running a big sale in order to generate enough cash flow to pay creditors is typical in a situation in which a firm's primary pricing objective is

survival

All the following are differences between social and traditional media EXCEPT:

the ability to reach a mass or specialised market segment

Which of the following is a disadvantage of using online, mobile and social media for advertising?

the audience controls ad exposure

Which of the following is a drawback of using blogs as a marketing medium?

the content of a blog is difficult to control

With respect to advertising, CPM is defined as

the cost of reaching 1,000 individuals or households with the advertising message in a given medium

Price refers to:

the money or other considerations (including other products and services) exchanged for the ownership or use of a product or service

Total revenue refers to

the total money received from the sale of a product

Total revenue refers to:

the total money received from the sale of a product

What aspect of niche online social networks makes the medium most appealing to marketers?

they cater to the needs of small communities of link-minded people

The length of time it takes from a product being conceived until its being available for sale.

time to market

An estimate of the maximum amount of sales available to all the forms in an industry during a given period under a given level of industry marketing effort is known as

total market potential

Which of the following is most efficient for short hauls of high-value merchandise and is highly flexible in its routing and time schedules?

trucks

Using the information in the following table, calculate the break even point in units

14,000 units

If the company wants to earn a profit of $42,000 instead of breaking even, what is the number of units the company must sell?

18,200

If a brand has 10% of sales in an area where 20% of the country's people live, then what is Brand Development Index (BDI)?

50

Which one of the following is NOT a reason to segment a market ?

All the buyers in the entire market have similar wants and needs

Which one of the following is NOT a reason to segment a market?

All the buyers in the entire market have similar wants and needs

Keisha is buying a new car in keeping with her roles as the newest vice president of her company. She was overheard telling a co-worker. "The Volva has reclining bucket seats but the Cadillac has front and back stereo speakers." Keisha is currently in which stage of purchase decision process?

Alternative evaluation

According to a 2011 Federal Communications Commission report, AT&T, Verizon, Sprint-Nextel and T-Mobile control the vast majority of the subscribers in the US wireless mobile phone market. Which form of competition characterises this market?

An Oligopoly

What is the primary difference between an agent and a broker?

An agent represents a company on a permanent basis while a broker is employed temporarily

People born during the demographic Post-WW II between 1946 and 1964:

Baby Boomers

This indicates where significant groups of a brand's customers live and helps direct marketing efforts

Brand Development Index (BDI)

This is the percentage of a brand's sales in a particular area in relation to the percentage if the country's population in that area

Brand Development Index (BDI)

An agreement in which one company allows another to use its brand on other products for a fee is called

Brand licensing

When a firm uses an existing brand name as part of a brand name for a new product, this is called ... branding.

Brand-extension

A general review of the marketing strategy, product assessment, economic analysis and legal examination would all take place during which stage of the new-product process?

Business analysis

A method of categorising a firm's products according to their relative competitive position and business growth rate in order to lay the foundations for sound strategic planning.

Business portfolio planning

An assessment of an individual's or organisation's disposable income regarded as conferring to power to make purchase.

Busing power

The price of 1,000 advertisement impressions on one webpage

CPM

This index is calculated by taking the percentage of a product category's total sales that occur in a given market area as compared to the total population of the market

Category Development Index (CDI)

Marketing research to test hypotheses about cause-and-effect relationships is called ____ research.

Causal

Marketing research to test hypotheses about cause-and-effect relationships is called _____ research.

Causal

Caroline need to find information about income and age distribution in Orange Country, California. The best source of secondary research of use to Caroline is likely to be:

Census data

Entering a foreign market by developing foreign-based assembly or manufacturing facilities.

Direct investment

The practice of using the established brand names of two different companies on the same product. Example: Nike + iPod sport kit

Co-branding

A brand strategy decision in which the product bears two or more well-known brand names is called:

Cobranding

Almost all major purchases result in _____, or discomfort caused by postpurchase conflict.

Cognitive dissonance

Ingenious Group views and organizes its marketing activities from the view point of its buyers. Management works hard to sense, serve, and satisfy the need of its well-defined group of buyers. Which of the following does Ingenious Group most likely practice?

Consumer-oriented marketing

A product that requires no new behaviours be learned by consumers is a

Continuous innovation

Suppose L.L Bean, a catalog retailer, has set a goal to reduce merchandise returns by 20 percent for the holiday season. The firm would MOST LIKELY have set a ____________ goal.

Customer satisfaction

A _____ gap exists when a firm knows what they need to do to meet customers' service expectations but sometimes fails to do it.

Delivery

Many of today's college graduates will make their living providing goods and services to baby boomers, the large group of Americans born in the period after WWII. Baby boomers are __________ market segments.

Demographic

Many of today's college graduates will make their living providing goods and services to baby boomers, the large group of Americans born in the period after World War II. Baby boomers are a _____ market segment.

Demographic

Demand for business products is called _____ demand because it ultimately comes from the demand consumer goods.

Derived

The demand for industrial products and services that is driven by the demand for consumer products and services is called

Derived demand

The demand for industrial products and services that is driven by the demand for consumer products and services is called:

Derived demand

In the new product process, product ideas that survive the business analysis stage proceed to the _____ stage.

Development

Generational marketing refers to:

Different marketing programs developed for each generational cohort due to each group's distinctive attitudes and behaviours

The picture above is a graphical representation of the Diffusion of Innovation Bell. The consumers represented by the light blue are called: (innovatords, early adopters, _____________, late majority, laggards)

Early majority

The American Marketing Association Statement of Ethics is centered on three general norms: (1) do no harm: (2) foster trust in the marketing system: (3)

Embrace ethical values

A marketing researcher enters a consumer's home, observes consumption behaviour, and records pantry and garbage content. Which term best described the marketer's technique?

Ethnographic

A marketing researcher enters a consumer's home, observes consumption behaviour, and records pantry and garbage content. Which term best describes the marketer's technique?

Ethnographic

Craig sees that his company's quarterly sales and profits are significantly above projections and says, " That's great. Let's keep doing what we are doing." Craig is ignoring the __________ step of the marketing planning process.

Evaluate performance

If a firm wants to develop a sustainable competitive advantage, it should:

Examine its operations and customer relations to identify significant things competitors cannot easily copy.

Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors and checking for differences in group responses.

Experimental research

A firm begins international marketing through a/an:

Export department

Entering foreign markets by selling goods produced in the company's home country, often with little modification.

Exporting

Subscription services from films such as AC Nielsen provide marketing researchers with a good source of _____ data.

External secondary

Subscription services from firms such as AC Nielsen provide marketing researchers with a good source of _____ data.

External secondary

A geographically focused pricing strategy in which goods are shipped free on board and the customer pays the price of freight between the factory and the point of delivery

FOB origin pricing

The marketer of life insurance products is concerned with firms that provide other savings and income instruments to consumers because such products are of the same product:

Family

The Minnesota Twins, a professional baseball team, wanted to develop creative ways to boost sagging attendance at its ball games. The Twins hired a moderator who, after every home game during the month of July, led informal discussions with groups of 6 to 10 fans to find out what they did and did not like about the baseball team and their experience at the stadium. The discussions were videotaped so that researchers could review the data at a later date and in more detail. What are such informal research discussions called?

Focus groups

Enhancing the marketability of a product by changing its physical characteristics. For example, boxed detergent can be produced in liquid form, which may be more advantageous for certain consumer requirements.

Form utility

Enhancing the marketability of a product by changing its physical characteristics. For example, boxed detergent can be produced in liquid form, which may be more advantageous for certain customer requirements.

Form utility

The individual who controls the flow of information from the mass media to the group or individual. It is also used to refer to the person who controls decision making by controlling purchases within the company:

Gatekeeper

Standardizing many Nike and Adidas shoe models worldwide is an example of:

Globalization

Statements of accomplishment of a task to be achieved, often by a specific time are referred to as ____________.

Goals

A statement that specifies how two or more measurable variables are related:

Hypothesis

Kellogg's Rice Krispies, a ______ brand, is likely to be found next to Crispy Rice, a _____ brand that has similar coloring and styling for its package.

Manufacturer, private

Organisational buyers are described as:

Manufacturers, retailers, or government agencies that buy products for their own use or for resale

A business approach or philosophy focused on discovering and meeting the needs and desires of its customers through its product mix. Unlike past marketing strategies that concentrated on establishing selling points for existing products, this one works in reverse, attempting to tailor products to meet the demands of customers.

Market orientation

The process of dividing a total market into groups consisting of people or organizations with relatively similar product needs is known as:

Market segmentation

If Nabisco had established a pricing objective of selling one out of every three crackers consumed in the world, it would have established an objective based on

Market share

The ____ means meeting the current needs of both customers and the company. But that can sometimes mean compromising the future of both.

Marketing concept

One of the most difficult problems that marketers face is how to parse through all of the information afforded them by modern technology. Whether this information comes from customer surveys or it is driven by more intricate computer models designed to judge how well a marketing campaign reaches its goal, all of it taken together can be overwhelming. Deciding which bits of information are important and which are relatively trivial can make the difference between efficient marketing and waste. Creating a _______ might be the best way to solve this problem

Marketing dashboard

The process of putting marketing strategies into action is called:

Marketing implementation

Jakubowski Farms Gourmet Bread Base is the brand name for a mix designed for use in bread machines. The mixe are sold in 2-pound canister for $14.99 plus postage The products are only available through the mail. People learn about the product through word-of-mouth and bread machine demonstrations the company's founder give to groups in Wisconsin where she lives. This is a description of the company's

Marketing mix

According to _____, human needs are arranged in a hierarchy. Starving people will take little interests in the latest happenings in the art world.

Maslow

The buying situation where users, influencers, or deciders want to change product specifications, price, delivery schedule, or suppliers is referred to as a:

Modified rebuy

A firm that views the world as consisting of unique parts and markets to each part differently is referred to as a:

Multinational firm

Which of the following is NOT an example of online marketing research:

Neuromarketing

The process an organization goes through to identify business opportunities and convert them into salable products or services is referred to as the

New-product development process

Perry Supply's sales and sales force have continued to expand. Now, the firm plans to add a fleet of company cars as part of its sales compensation package. For Perry Supply, these vehicles would represent a ____ purchase.

New-task purchase

Only one competitive factor is critical to success in a particular industry. The industry most likely has:

No more than two or three total competitors.

The marketing department has received a request for conducting a study of consumers' regional telephone calling plans. The marketer's FIRST step would be to:

Obtain further information about the intended use of the results

Which of the following elements of marketing is most likely responsible for creating instant recognition of a product?

Packaging

What is this? (+ with competitor spread over a function, Low quality vs. high quality; low price vs. High price)

Perceptual map

When, in their information search, consumers focus on communication with friends and relatives, they are utilizing _____ sources.

Personal

E-books, in addition to being an alternative product form, provide __________ value creation since they can be downloaded via the internet immediately when and where they are needed.

Place

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organisation presently engaged?

Planning

Which of the following is NOT one of the four overarching strategies to create and deliver value and to develop sustainable competitive advantages?

Planning excellence

Campbell is one of the oldest retailers in the country. While the service offered at Campbell is fairly mediocre, the retailers is famous for its surprise offerings of seconds, overstocks, and closeouts-occasionally including expensive gadgets and jewelry. Posco, a new chain of retail stores, offers products that are similar to Campbell's offerings; however, Posco is known for encouraging customers to ask questions and for providing service representatives to assist customers in the purchasing decision process. From this scenario, which of the following statements is most likely true?

Posco better utilises the services mix to differentiate itself from Campbell

________ involves the process of defining the marketing mix variables so that the target customers have a clear, distinctive understanding of what a product does or represents in comparison with competing products.

Positioning

We often see advertisements touting a product as being made with natural ingredients, or being long-lasting. Marketers using these types of promotions are positioning their products based on:

Product attributes

We often see advertisements touting a product as being made with natural ingredients, or being-lasting. Marketers using these types of promotions are positioning their product based on:

Product attributes

Marketing strategies argue that all products go through stages, such as growth and maturity. The model used to assess products' behaviour during their time in the marketplace is known as the:

Product life cycle

A company that uses an organisation structure based on its snowboards, skiing equipments, and ice skates would most likely be using a ___________ grouping.

Product line

As the industrial Revolution came to the United States, most firms operated with a/an ______ orientation.

Production

The Wheeler-Lea Act:

Prohibits false advertising of food products

Laura has a nearly new economy car, but she wants a sports car because she thinks it would be exciting to own one. If she decides to purchase a sports car, she will be primarily fulfilling _____ need(s).

Psychological

Which of the following characteristics is NOT one of the four special service characteristics which separate services from products?

Reciprocity

In market research, this term refers to the degree to which an assessment tool produces stable and consistent results

Reliability

The reseller market includes:

Retailers and wholesalers

This act seeks to prevent unfair price discrimination by ensuring that sellers offer the same price terms to customers at a given level of trade

Robinson-Patman Act

An autonomous division or organisational unit, small enough to be flexible and large enough to exercise control over most of the factors affecting its long-term performance. They can be categorised as cash cows, stars, question marks or dogs in the BCG matrix.

SBU (strategic business units)

A segment of the population selected for marketing research to represent the population as a whole.

Sample

In conducting an assessment of her accounting firm, Pauline Santana discovers the following annual results: average charge per customer = $250; rent = $12,000; total billing = $150,000; employee compensation and benefits = $60,000; and other costs = $110,000. Given these results, Mary's profits would equal:

a loss of $32,000

Which of the following promotion mix approaches involves a producer promoting a product to different channel members who in turn promote the products to customers?

a push strategy

Elastic demand exists when:

a small percentage decrease in price produces a larger percentage increase in quantity demanded and total revenue increases

In which step of the selling process does a salesperson most likely meet a customer for the first time?

approach

_____ are online journals where people and companies post their thoughts and other content, usually related to narrowly defined topics.

blogs

It is important to standardize service-performance processes throughout organizations that deliver services to customers. This is accomplished by developing service blueprints or maps that examine:

both the demand side and the supply side of service delivery

The differential effect that knowing the brand name has on customer response to the product or its marketing.

brand equity

The extent to which a consumer can correctly identify a particular product or service just by viewing the product or service's logo, tag line, packaging or advertising campaign.

brand recognition

Combining several products and offering them at a reduced price. Example: fast food restaurant "Menu" - a burger, fries and drinks at a "combo" price.

bundle pricing

Which term refers to a tool used by managers to supervise their salespeople?

call plan

Maintaining or increasing market share:

can be achieved even if industry sales are flat or decreasing

John Deere manufactures and distributes industrial and farm equipment. These types of equipment are considered to be speciality products. Which type of market coverage does John Deere likely use?

exclusive distribution

ABM Connect is one of the largest internet service providers in India. The company's salespersons regularly contact buyers to make sure that the installation and services have been properly executed. Which of the following steps of the selling process does this scenario depict?

follow-up

This term is used in the context of advertising to describe the number of times a person is exposed to an advertisement or else the number of times an advertisement is repeated through a specific medium over a specific time period.

frequency

Which type of product would fit in the pure competition market?

gold

GreatWords is a book retailer. Due to the increasing demand for audiobooks, the firm decides to sell audiobooks in its stores. GreatWords signs a deal with Carpem, a leading producer of educational audiobooks. According to the deal, GreatWords will sell only Carpem's audio titles in its stores, while Carpem will not sell its books through other retailer stores. GreatWords profits from Carpem's popularity while Carpem, in return, enjoys better sales. This is most likely an example of a or an _____ marketing system.

horizontal

The demand curve for microwave ovens is downward sloping, and falling faster than the curve for potatoes. The demand for potatoes is probably:

inelastic

Although services are "products" in a general sense, they have special characteristics and marketing needs. The biggest differences come from the fact that services are essentially _____ and that they are created through direct interactions with customers.

intangible

Which of the following is a characteristic of an inside sales force?

it conducts business from an office via telephone

What is telemarketing?

it is a form of marketing that uses the telephone to sell directly to businesses and consumers

Which statement is most likely true about the affordable method of setting an advertising budget?

it typically overlooks how promotion affects sales

In a logistics system, minimising distribution costs most likely involves _____.

large shipping lots

Those activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost are referred to as

logistics

The practice of organising the cost-effective flow of raw materials, in-process inventory, finished good, and related information from point of origin to point of consumption to satisfy customer requirements is referred to as _____.

logistics management

The practice of organizing the cost-effective flow of raw materials, in-process inventory, finished goods and related information from point of origin to point of consumption to satisfy customer requirements is referred to as

logistics management

A firm is operating in a large market that is unaware of the new product. There is a strong potential competition and manufacturing costs have declined. The firm should launch the product at a:

low price and low level of promotion

Kellog's Rice Kripries, a _____ brand, is likely to be found next to Crispy Rice, a _____ brand that has a very similar coloring and styling for its package.

manufacturer, private

The net change in total revenue that results from producing and marketing one additional unit

marginal revenue

Advertising copy tests, brand health tracking studies and return on marketing investment models are all examples of _____

marketing measurement tools

Increasing market share and changing brand perceptions are both examples of____

marketing objectives

Which of the following marketing forms enables consumers to learn about products by scanning Quick Response codes?

mobile marketing

There are more than 100 companies that manufacture natural and artificial flavourings used to enhance the taste of food before it is sold to consumers. Many of these manufacturers are regional operations. Many differentiate themselves from the competition in their advertising by specializing in one or two types of foods for which they provide flavourings. Some use their distribution strategies as a means of differentiating themselves from their competition. This industry is most likely an example of:

monopolistic competition

Faber Motors manufactures three lines of cars: high-end security cars for government agencies, commercial cars for consumers and individuals, and professional racing cars. The high-end security cars are sold directly to government buyers by the company. The consumer cars are sold through dedicated dealers who only sell Faber's lines at their outlets. For its professional racing cars Faber collaborates with Radium Tires, an innovative and renowned tire manufacturer. Faber provides the engine and body, while Radium provides the tires and its expertise on the racing industry. Which term best describes Faber's channel arrangements?

multichannel distribution system

The process an organization goes through to identify business opportunities and convert them into salable products or services is referred to as the _____.

new-product development process

According to the text, the most logical budget-setting method in advertising is the ____ method

objective-and-task

An example of this type of pricing is putting $19.99 instead of $20:

odd-even pricing

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

online display ads

Glenda is searching airline schedules on HolApp, a mobile web application. While browsing the application, a banner appears on the mobile screen showcasing offers and discounts on air tickets. The banner is best referred to as a _____.

online display advertisement

Fixed costs are costs that do not vary with production or sales level. Which of the following are NOT fixed?

packaging (fixed=rent, salaries, heating, interest)

Wrigley recently introduced a new flavour of Orbit brand sugar free chewing gum - mint mojito. The introductory price was low so that it quickly created loyal customers for the flavour. In this example, Wrigley used

penetration pricing

Wrigley recently introduced a new flavour or Orbit brand sugar free chewing gum mint mojito. The introductory price was low so that it quickly created loyal customers for the flavor. In this example, Wrigley used:

penetration pricing

Which method of setting advertising budgets best helps management think about the relationship between promotion spending, selling price, and profit per unit?

percentage-of-sales method

In which step of the selling process does a salesperson learn as much as possible about a prospective customer before making a sales call?

pre-approach

When marketers emphasize price as an issue and match or beat the prices of other companies, they are using

price competition

This strategy calls for setting a low price for a new product in order to attract a large number of buyers and a large market share

price elasticity

Which consumer promotion tool involves selling two products for the price of one?

price packs

A marketing control measure used to determine whether the amount spent on sales promotion was excessive: total expenditure on sales promotion in a given period is expressed as a percentage of total revenue for the same period

promotion-to-sales ratio

Payments or price reductions that reward dealers for participating in advertising and sales support programmes.

promotional allowances

One way to improve a website's stickiness is to:

provide valuable, up-to-date content

Pearl Sands is a resort in the town of Willington. It attracts the maximum number of customers in the summer. In the spring, Pearl Sands sponsors shows on TV and puts up billboards in Willington and the surrounding towns. The billboards advertise Pearl Sands as an ideal holiday spot, whether for a weekend getaway in the summer heat or for a family vacation. This is an example of a _____ strategy.

pull

As this market consists of many buyers and sellers trading in a uniform commodity, no single buyer or seller has much effect on the going market price. Thus, sellers in these markets do not spend much time on marketing strategy.

pure competition

In advertising, this refers to the total number of different people or households exposed, at least once, to a medium during a given period

reach

When management of an organisation decides to measure the organisation's marketing activities, management is necessarily also committing to which of the following?

relating marketing activities to specific marketing objectives

____ advertising maintains brand relationships and is important for mature products

reminder

The most appropriate promotion strategy for a product in the maturity stage of the product life cycle is:

reminder communication

Which of the following is NOT considered a variable cost?

rent

_____ is the impact on business performance resulting from executing specific marketing activities

return on marketing investment

Many companies that invent new products set high initial prices to try and get more revenues. This strategy is called:

rice skimming

Fruity Loop, a leading manufacturer or fruit-juices, introduces a new range of potato chips. To promote this new product, it offers a packet of potato chips free with every bottle of Fruity Loop juice. Which of the following promotion tools id Fruity Loop using in this case?

samples

This type of online advertising revenue model focused on weight or percentage among other advertisers. For example, if there are four advertisers on a website, each advertiser get 25% of the advertising weight. This method ensures that one ad will not be seen more than the three other advertisers

share of voice

Companies often serve middle- priced markets to reduce risk when initially marketing their product lines. Adding items to these lines eventually increases profits. The strategy of adding both higher priced and lower priced items to a product line is called:

two-way stretching

A fast food franchisee is required to buy unmarked plastic eating utensils from the franchisor and add the franchise logo even if the franchise can buy the identical utensils from a local supplier for half the price. This requirement would be an example of a or an:

tying arrangement

Individuals who have visited a website at least once in a fixed time frame, which is typically a 30-day period:

unique visitors

Which wholesaler channel function helps reduce the inventory holding costs and risks of suppliers and customers?

warehousing

Channel conflict refers to:

when one channel member believes another channel member is enaged in behavior that prevents it from achieving its goals