MK 201 Quizzes
At which step does a company perform a review of the sales, costs, and profit projections for a new product to determine whether the new product is likely to satisfy objectives?
Business analysis
Which of the following is NOT a primary goal of competitive marketing intelligence?
Creating an understanding of the business-to-business environment
Criticism has been leveled at marketing for negative impact on other businesses. Of the following, which does NOT fall within those criticisms?
Creating false wants and too much materialism
The American Marketing Association has developed a code of ethics for marketers based on three ethical norms. What are these norms?
Do no harm, foster trust in the marketing system, and embrace ethical values
A discount store (for example, Target, Kohl's, or Walmart) sells standard merchandise at lower prices. To do this, discount stores accept which of the following two conditions?
Lower margins and higher sales volume
Which form of direct and digital marketing do companies use to engage customers anywhere, anytime during the buying and relationship-building processes
Mobile Marketing
How do market demands relate to needs and wants?
Needs are satisfied by wants, and buying power converts wants into demand.
Which of the following would make a segment less attractive to enter?
New entrants finding it easy to enter the segment
________________ is the service characteristic to which marketers need to pay close attention when there are fluctuations in demand.
Perishability
Consumers go through a distinct process in making a purchase. Of the following, which is the final step in thatprocess?
Post-purchase behavior
A new product may fail for many reasons. Which of the following is NOT one of them?
Rapid market acceptance
Which advertising objective is best suited to maintaining customer relationships and for more mature products?
Reminder
Which of the following is a type of marketing that calls for meeting the present needs of consumers and businesses while preserving or enhancing the ability of future generations to meet their needs?
Sustainable marketing
Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called "high-low pricing." Which of the following correctly describes high-low pricing?
The retailer charges higher prices on an everyday basis, coupled with frequent sales and other price promotions.
Which of the following correctly describes customer purchases, sales force contacts, service and support calls, web and social media site visits, satisfaction surveys, credit and payment interactions, and market research studies?
Touch points
____________________ is the digital version of word-of-mouth marketing and the type of marketing in which marketers usually have little control over where messages end up.
Viral marketing
All products have a life cycle. The sales of a typical product follow __________________, which is made up of five stages.
an S-shaped curve
Goldtone is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Goldtone is using ________ to generate new product ideas.
crowdsourcing
Which contractual system is distinguished by the fact that it is normally based on some unique product or service; method of doing business; or trade name, goodwill, or patent that has been developed?
franchise
After the presentation and demonstration step in the sales process, a salesperson should next be prepared to _______.
handle objections
Direct marketing is ________, allowing buyers to create exactly the configuration of information, products, or services buyers desire and then order them on the spot.
immediate and interactive
The second critical phase in developing a marketing information system (MIS) is developing information. The information is developed from ________, __________, and ____________.
internal databases, marketing intelligence activities, and marketing research
To avoid being intrusive and annoying, most legitimate e-mail marketers practice ______, which means sending e-mail pitches only to customers who "opt in."
permission-based marketing messages
Personal selling involves a multiple-step process. The first step is ______________ and the last step is _______________________.
prospecting and qualifying; follow-up
____________________ are promotional tools that can be used to attract consumers.
rebates, coupons, price packs, and samples
A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From fans' viewpoint, the housewives reality show is a ______________.
reference group
Which of the following is a benefit of direct and digital marketing for buyers?
sense of brand engagement and community
The ________________________ is a brand's full positioning or the full mix of benefits on which the brand is positioned.
value proposition
Consumer products are products and services bought by final consumers for personal consumption. Consumer product classifications include _______________, and unsought products.
convenience, shopping, specialty
Which of the following is an example of horizontal channel conflict?
A Ford dealer complaining that another Ford dealer is advertising in its territory
Which of the following statements is correct regarding marketing communications today?
Advertisers are now able to engage smaller customer segments with more personalized, interactive content.
Which of the following is NOT a social factor influencing consumer buying behavior?
Cognitive dissonance
Which of the following statements regarding marketing logistics is NOT TRUE?
Companies are placing less emphasis on logistics and more on constraining costs
Which of the following correctly describes the classifications into which products and services fall?
Consumer products and industrial products
What are the eight steps in the business buying decision process, in the correct sequence?
Problem recognition,general need description, product specification, supplier search, proposalsolicitation, supplier selection, order-routine specification, and performance review
The real value of marketing information rests in the _____________________.
customer insights it provides
Which of the following statements about blogs is correct?
Blogs can be difficult for the company to control.
Which of the following scenarios BEST describes the societal marketing concept?
Edward's Earthware attempts to make its pottery in a way that satisfies customers but is also environmentally friendly and sustainable over the long term.
According to the text, what is one of the biggest advantages of social media?
Engagement and social sharing capabilities
A company's value chain is only as strong as its weakest link. What should a company do to properly gauge the strength of its links and continually improve?
Examine how well each group performs its work of adding customer value.
_________________________ are the objectives of trade promotions.
Getting retailers to carry new items and more inventory, buy ahead, or promote the company's products and give them more shelf space
The major steps in advertising media selection are (1) __________; (2) choosing among major media types; (3) selecting specific media vehicles; and (4) choosing media timing.
determining reach, frequency, impact, and engagement
Online advertising has become a major promotional medium. The main forms of online advertising are _____________________.
display ads and search-related ads
There are too many different kinds of consumers with too many different kinds of needs. So, companies must design strategies for profitably serving chosen segments. The design of the strategies begins with four key elements, which are ________, _______, ________, and___________.
market segmentation, market targeting, differentiation, and positioning
New digital and social media have given birth to a _________________________.
more targeted, social, and engaging marketing communications model
A blog is a(n) ______.
online forum
Forms of digital direct marketing include ______.
online marketing, social media marketing, and mobile marketing
t's time for the Super Bowl, and the end-of-the-aisle displays at the supermarket feature chips, dips, and soft drinks. What type of sales promotion tool is this?
Point-of-purchase
At which stage in the selling process does a salesperson attempt to learn as much as possible about the organization (what it needs, who is involved in the buying) and its buyers (their characteristics and buying styles)?
Preapproach
The four elements of a compensation plan for salespeople are __________.
A fixed amount, a variable amount, expenses, and fringe benefits
_____________________ direct(s) its marketing activities (primarily advertising, consumer promotion, and direct and digital media) toward final consumers to induce them to buy the product.
A pull strategy
In which of the following does a producer direct marketing activities (primarily personal selling and trade promotion) toward channel members?
A push strategy
_____________________________ are the five guiding principles of sustainable marketing.
Consumer-oriented marketing, customer value marketing, innovative marketing, sense-of-mission marketing, and societal marketing
________ is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.
Customer relationship management
Which of the following identifies the six major sales force management steps in the correct order?
Designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, compensating salespeople, supervising and motivating salespeople, and evaluating salespeople
__________________ segments are those segments that are conceptually distinguishable and respond differently to different marketing mix elements and programs.
Differentiable
Many vital and key functions are performed by marketing channels. Of the following, which is NOT one of those key functions?
Manufacturing and assembly
Which of the following statements about personal selling is correct?
Many customers are unable to distinguish the salesperson from the company.
Which of the following is a reason that producers use marketing channels and channel intermediaries?
Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.
The product/market expansion grid is a tool that allows marketers to identify growth opportunities. Of the following, which represent the four components of theproduct/market expansion grid?
Market penetration, market development, product development, and diversification
Which of the following BEST describes research relationships?
Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research.
Which of the following uses promotional tools such as presentations, trade shows, and incentive programs to engage customers, make sales, and build customer relationships?
Personal selling
________ products have low immediate appeal but might benefit consumers in the long run—for instance, bicycle helmets or some insurance products.
Salutary
Amazon is now promising same-day pick-up of goods as well as local secure pick-up points. What point of differentiation is this?
Services differentiation
Attracting and holding customers presents great challenges and decision points for retailers. Of the following, which is NOT one of the areas in which they face major decisions?
Social media and visibility decisions
Chicago's Best Pizzeria has been operating on the north side of Chicago for more than 30 years. Its target market includes young urban professionals who want new-style organic pizzas with exotic ingredients. However, in recent years, the population in the pizzeria's neighborhood has been shifting, and now fewer young urban professionals live there. The population has grown older and wants traditional pizza, not pizza with exotic ingredients. Which of the following identifies the pizzeria's BEST response to this situation?
Target a new market with a different product.
Most standard portfolio analysis methods evaluate strategic business units (SBUs) on their performance in two important dimensions. What are these two dimensions?
The attractiveness of the SBU's market or industry and the strength of the SBU's position in that market or industry
Which of the following environments demonstrates a changing age structure, shifting familyprofiles, geographic population shifts, a better-educated and more white-collar population, and increasing diversity?
The demographic environment
Which of the following statements about sales promotions is correct?
The heavy use of sales promotions has resulted in promotion clutter.
________ are off-price retailers that operate in huge facilities offering few frills but ultra-low prices and surprise deals on selected branded merchandise.
Warehouse clubs
Which of the following identifies a change in the technological environment that could affect the success of a business?
a company develops a new battery that lasts twice as long as its predecessor.
Performance Inc. sells its newest athletic shoe styles to The Sneaker Store and distributes dated or slightly defective merchandise through Sports Discounters. Performance Inc.'s main competitor is Topnotch Manufacturers. Performance Inc. also markets its products through the company website. They decide to offer a short-term online promotion to encourage consumers to buy their newest athletic shoes, promoting a 20 percent discount off current retail prices. In such a distributionchannel, which of the following would be considered a vertical conflict?
a conflict between Performance Inc. and The Sneaker Store
In a(n) ________ marketing system, leadership over production and distribution is assumed through the size and power of one or a few dominant channel members.
administered VMS
A manufacturer of half-ton pickup trucks creates a positioning map for the U.S. half-ton pickup market. The position of each circle on the map indicates the brand's perceived positioning on two dimensions: price and orientation (economy versus performance). The size of each circle indicates the brand's relative market share. This is an example of a ________________.
perceptual positioning map
When Dr. Lawncare developed his revolutionary new weed killer, he expected that, during the introductory stage of the product life cycle, ___________.
sales would be slow and with negative or low profits
Which type of retailer typically carries deep product assortments of narrow product lines?
specialty stores
The four major functions of marketing logistics are __________________________.
warehousing, inventory management, transportation, and logistics information management
Which of the following is considered part of an augmented product rather than that of an actual product or core customer value?
warranty
The number of product lines a company manages is the product mix ______. The total number of items a company carries within its product line is the product mix _____.
width; length
Which of the following describes the process of dividing markets into groups based on consumers' knowledge,attitudes, uses, or responses?
Behavioral segmentation