MKT 340 ISU Peterson Final Study Guide

Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts. When they sell to consumers, it is considered ________ marketing. B2B B2C C2B C2C R2C

B2C

For the average college student, a retirement account would be a shopping product. True False

False

Global distribution networks that involve wholesalers, exporters, importers, and different transportation systems generally lower costs and prices for products. True False

False

Glocalization refers to a global marketing strategy in which each of the four Ps is customized for each country. True False

False

One of the advantages of search engine optimization is that the advertiser only pays when someone clicks on its URL. True False

False

Panel data are always secondary data. True False

False

Retargeting is a popular form of search engine marketing. True False

False

STP refers to segmentation, testing, and promotion. True False

False

The top three digital advertising platforms are Google, Amazon and Facebook in that order. True False

False

______ are specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time. Coupons Rebates Contests Sweepstakes Loyalty programs

Loyalty programs

Attribution is an attempt at measuring the level of success each form of marketing contributes to a marketing campaign. True False

True

CRM is a tool used for both lead nurturing and customer retention True False

True

CTR, CPC, CPL and ROAS are all metrics. True False

True

Data that have been collected prior to the start of the current research project are considered primary data. True False

True

Each of the following have over 1 billion users: Facebook Google Search Engine Gmail Android Chrome Google Maps YouTube Google Play Store Google Drive Google Photos True False

True

Generally speaking, in the digital marketing world, a conversion is when a consumer does what you want her to do, e. g. purchase the product. True False

True

When shopping for a car you notice a significant price gap between domestic and imported cars, with the imported cars being much more expensive. This could be the result of overseas consolidation. a boycott. a tariff. globalization. franchising.

a tariff

All of the following are considered qualitative research except experiments observation. focus groups. social media. in-depth interviews.

experiments

Oscar Rodriguez is proposing Vision Innovation CEO that the firm start selling eyeglass frames in Europe. Overall, the company does not have a lot of capital and is risk-averse. Oscar will most likely recommend that Vision Innovation.. enter into a join venture find a strategic alliance partner make a direct investment export their eyeglasses establish franchise agreements

export their eyeglasses

Creative locations, such as kiosks at the baggage claim in airports or small booths in grocery stores, represent Starbucks' effort to improve its offering on which dimension of the marketing mix? place price product perception promotion

place

Which element of the marketing mix deals with supply chain management? product production place price promotion

place

For a major university, undergraduate programs, graduate programs, and professional programs would be __________ within the university's product mix. brand associations family brands co-brands product lines private-label brands

product lines

________ is when vendors ship merchandise to the distribution center prepackaged in the type and quantity required for each individual store. Quick response Just-in-time Combination warehousing Cross-docking Horizontal merchandising

Cross-docking

Customer retention programs are based on what concept? Customer excellence is the easiest macro strategy to follow. Customer relationships should be viewed from a lifetime value perspective rather than on a transaction-by-transaction basis. It is important to maximize profits in the first few months of a customer relationship. Segmentation, targeting, and positioning analysis should not be rushed. Firms must spend large amounts of money to retain customers.

Customer relationships should be viewed from a lifetime value perspective rather than on a transaction-by-transaction basis

Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following except A. price. B. product. C. place D. performance. E. promotion.

D. performance.

The fundamental goal of marketers when creating goods, services, or combinations of both is to A. stimulate short-term sales. B. defeat the competition. C. serve all consumers. D. operate according to government regulations. E. create value.

E. create value.

______ appeals help consumers make purchase decisions by offering facts in advertising messages and strong arguments built around relevant issues, explaining key benefits of the firm's products and services. Emotional Niche marketing Informational Institutional Reminder

Informational

The ethical decision-making framework includes all of the following steps except Identify issues. Promote the firm's corporate social responsibility efforts. Gather information and identify stakeholders. Brainstorm alternatives. Choose a course of action.

Promote the firm's corporate social responsibility efforts.

Key corporate social responsibility (CSR) stakeholders typically include all of the following: -the firm's employees and their families -customer groups -members of the community -the environment -the firm's partners and competitors True False

True

An example of sentiment mining is when survey data are analyzed in depth to determine consumer attitudes toward a product. True False

False

At the break-even point, profits are maximized. True False

False

CTA, CPM, CRM and SERP are all metrics. True False

False

Call to action is a button at the end of a video or display ad that allows customers to click to call the advertiser. True False

False

The goal of pay-per-click advertising is to have high click-through rates, conversion rates, and bounce rates. True False

False

The three general objectives of advertising are to select, target, and promote. True False

False

By allowing consumers to sell their unwanted goods to other consumers, auction sites like eBay and Etsy cater to ________ marketing. D2C B2B C2C B2G C2D

C2C

Two requirements of sustainable competitive advantage are that it is easy to be copied and can be maintained over a long period of time. True False

False

Warren is in a group of 8 to 12 people and is being asked questions by a trained moderator. Warren is part of an in-depth interview group. True False

False

When a firm has a particular profit goal as its overriding concern, it will use target return pricing to meet the profit objective. True False

False

When businesses support fashion events, such as the New York Fashion Week, this is known as cause-related marketing. True False

False

Which social media users spend online more than 2.5 times as much as an average U.S. consumer? Facebook Instagram Pinterest LinkedIn YouTube TikTok Twitter

LinkedIn

A disadvantage to using secondary data is that they might not be precisely relevant to the information needed. True False

True

Brand dilution occurs when the brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold. True False

True

In most European countries retailers can't sell below cost, and in others they can't advertise "before" prices if the product hasn't been sold at that price for two weeks. True False

True

Paid search ads and organic listings are both found on a SERP. True False

True

The Golden Rule test asks the question, "Would I like to be on the receiving end of this action and all its potential consequences?" True False

True

Which of the following is the best example of a mass media advertising channel? Popstar! Magazine Crochet World magazine Home and Garden TV (HGTV) USA Today TransWorld Skateboarding

USA Today

Four Winds Art Gallery sells paintings. They have also recently begun offering appraisals of customers' art collections. Four Winds is A. expanding from offering just goods to also offering services. B. capturing value through multiple pricing strategies. C. increasing customer value through inflated appraisal evaluations. D. expanding from offering just services to also offering goods. E. implementing a market segmentation strategy.

A. expanding from offering just goods to also offering services.

Brett is struggling with the choice of publishing his new book, How to Cook Polish Barbeque, as an e-book or a paperback. Brett is addressing which core marketing aspect? A. making product decisions B. developing a promotional plan C. satisfying a need but not a want D. managing the exchange function of marketing E. pricing the product

A. making product decisions

Which one(s) of the following is an advantage of digital marketing? Micro Targeting Personalization Measurement Cost Stickiness

All of the above

Which of the following statements best describes global expansion through a strategic alliance? In a strategic alliance, a firm enters a new market and forms a new company with shared ownership, profits, and controls. A strategic alliance is a relationship in which two firms collaborate on a business opportunity, but do not invest in each other. In a strategic alliance, a firm in one country sends products to a firm in another country. In a strategic alliance, a firm signs a trade agreement with a firm in another country. In a strategic alliance, two firms enter into a franchise agreement.

A strategic alliance is a relationship in which two firms collaborate on a business opportunity, but do not invest in each other.

56% of online shoppers start their product searches on which online site? Google Facebook Amazon Pinterest LinkedIn Instagram LinkedIn eBay

Amazon

Product warranties, financing, product support and after sale service pertain to which product component? Brand equity Brand promise Customer support Customer relationship management Associated services

Associated services

The basic difference between a good and a service is that a good A. provides intangible benefits. B. can be physically touched. C. generates greater interest among consumers. D. is more quickly forgotten by consumers. E. s always less expensive than a corresponding service.

B. can be physically touched.

Marketers must determine the price of a product carefully, based on potential buyers' beliefs about A. the economic outlook. B. its value. C. the cost to manufacture the product. D. the product's new advertising campaign. E. the environment.

B. its value.

Jamie sells construction equipment. Whenever she calls on her building contractor customers, she asks if they are having any problems. In doing so, Jamie is addressing which of the following core aspects of marketing? A. completing the exchange function of marketing B. satisfying customer needs and wants C. creating value D. making decisions about the setting in which marketing takes place E. making product, place, promotion, and price decisions

B. satisfying customer needs and wants

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes when A. the product was listed at full price and didn't sell. B. the value of their time and energy. C. only the actual price they pay at the register. D. the savings to the store of not having to display the products neatly on shelves. the excitement they experience in finding an item they desire.

B. the value of their time and energy.

As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue to sell through their existing dealer networks. The car manufacturers considered switching from ________ to ________ marketing. C2C; B2C B2B; C2C B2C; B2B B2B; B2C B2C; C2C

B2B; B2C

________ segmentation is the segmentation method most directly related to satisfying consumers' needs and wants. Geographic Demographic Psychographic Benefit Geodeomographic

Benefit

Veronica Jackson's family has always driven a Toyota car. When Veronica thinks about Toyota she immediately recalls family road trips, good gas mileage, stylish designs, and the image of her local dealership. In marketing, these recollections are called Brand extensions Logo extensions Generic branding Brand associations Brand awareness

Brand associations

____________________________________ is when a company uses an established brand name as an umbrella when entering new businesses or developing new product lines that represent new categories for the company. Combination branding Co-branding Tiered branding Brand extension Brand dilution Brand illusion

Brand extension

What does CTR stand for? Must be exact.

Click-through-rate

___________________________________________________________ is where two or more brands from different companies are featured together to promote a product. Co-branding Combination branding Tiered branding Brand dilution none of the above

Co-branding

________ entails a sense of purpose for the firm that is higher than simply making a profit by selling products and services. Corporate social responsibility Conscious marketing Triple bottom line Marketing analytics The four Ps

Conscious marketing

On her way home from work, Veronica Jackson stopped at the corner grocery store to pick up milk, bread, cereal, and butter. Veronica did not spend any time searching for these products or comparing alternatives. For most consumers, like Veronica, these items are [-----] goods. Specialty Convenience Shopping Ritual Impulse Unsought

Convenience

After seeing advertisements for the Toyota Prius, Joey becomes interested and does some Internet research. However, after seeing the price for a new model, he decides to purchase a Ford Fusion instead. This is an example of the lagged effect. True False

False

An advertiser is charged for a bumper ad only when someone chooses to view the ad for at least 30 seconds or engages with the ad - like clicking on a call-to-action overlay, a card, or a companion banner. True False

False

When Katie Murphy was considering a career in marketing. she was concerned about the image of marketers as fast-talking, high-pressure people who care only about making a sale. When reading about the core aspects of marketing, Katie was relieved to learn that in marketing A. Distribution is controlled by customers. B. Decisions are made regarding how a new product is designed. C. Customers are not considered until the product is ready for sale D. Promotion is the most important consideration, followed by pricing decisions. E. All parties should be satisfied

E. All parties should be satisfied

When referring to "exchange," marketers are focusing on A. promotional offers designed to stimulate barter. B. the location where products and services are traded. C. the price charged, adjusted for currency exchange rates. D. location-based tactics for creating value E. the trading of things of value.

E. the trading of things of value.

What type of media is this? Mentions (from third parties) Shares (from third parties) Reposts (from third parties) Reviews (from third parties) Earned Owned Paid Traditional

Earned

Which of these is not one of the 4E Framework of Digital Marketing? Excite Educate Entertain Experience Engage

Entertain

________________________________________________ is where the packaging creates an experience for the customer that goes beyond the functional benefits of displaying and protecting the product, e. g. Absolut Vodka, Grey Goose, Altoids breath mints, etc. Brand identity Experiential packaging Package design Primary packaging Secondary packaging none of the above

Experiential packaging

All of the following are federal agencies that regulate advertising activities except the FDA. FCC. FTC. USPS. FRS.

FRS.

A complex product that is best described in writing will be difficult to explain to consumers who are unable to read. For this reason, a segment in which many consumers could not read would be considered unattractive because the consumers would not be responsive. True False

False

A demand curve shows the relationship between income and demand. True False

False

A mission statement describes the specific actions a firm will take to achieve its goals. True False

False

A pulsing advertising schedule uses periods of heavy advertising followed by periods of no advertising. True False

False

The most common measure of market potential of an economy is a country's GNI. CPI. BTS. APR. GDP. PPP.

GDP

Consumers use and process different aspects of advertising or messages. ________ yields greater attention and deeper processing, and leads to strong attitudes and purchase intentions. An external locus of control High involvement Low involvement Differential content Internet advertising

High involvement

Which of the following steps occurs during the implementation phase of the marketing plan? Evaluate performance using marketing metrics Conduct a situation analysis Identify and evaluate opportunities Define business mission Define business objectives

Identify and evaluate opportunities

A company is assessing opportunities in the BRIC countries and determines that ________ is one of the youngest populations in the world and is increasingly adopting global attitudes. Russia India Brazil Italy China

India

Which of the following is true regarding the ticketing and marking process? It refers to marking off inventory that has been removed from the retailer's shelves. It is more efficient for a retailer to perform these activities at a distribution center than in its stores. It is more efficient to perform this task when the product is in the store aisles and ready to be shelved. The retailer should never consider having the vendor ship floor-ready merchandise. It is more efficient for a retailer to perform these activities in its storeroom.

It is more efficient for a retailer to perform these activities at a distribution center than in its stores.

Which statement best describes personal selling? It is primarily informational communication, not persuasive communication. It involves encoding while advertising involves only decoding. It involves a larger audience than advertising. It is primarily indirect communication. It is the two-way flow of communication between a buyer and a seller.

It is the two-way flow of communication between a buyer and a seller.

What does KPI stand for? Three words. Must be exact.

Key Performance Indicator

_____ is any interference in the IMC process. Noise Excessive reach Looping Translation Feedback

Noise

What type of media is this? Company website Company blog(s) Company social media Earned Owned Paid Traditional

Owned

What type of media is this? PPC Display ad Retargeting Social media ads Earned Owned Paid Traditional

Paid

________ represents all the activities necessary to get the product to the right customer when that customer wants it. Place Social media Value cocreation Promotion Supply chain marketing

Place

In the ________ stage, a firm will decide what level of commitment to its ethical policies and standards it is willing to declare publicly and how the firm plans to balance the needs of its various stakeholders. brainstorming implementation planning control evaluation

Planning

__________ involves efforts to ensure that target customers have a clear, distinctive, desirable understanding of the firm's offerings relative to competitors' offerings. Processing Perceptualizing Positioning Proportioning Prospecting

Positioning

_______________________________________ is anything that is of value to a consumer and can be offered through a voluntary marketing exchange. Associated services Brand promise Brand equity Product Augmented product Marketing

Product

When Yolanda asked her firm's advertising agency to estimate how often consumers saw her firm's IMC message and what percentage of the target audience was exposed to the message, she was told the reach was 40, the frequency was 4, and the competitive parity was 10. The gross rating points for her firm's campaign were The answer cannot be determined from this information. 1,600. 400. 160. 40.

ReachX Frequency=160.

Which of the BRIC nations is most literate? Russia China Brazil South Africa India

Russia

[-----] are special incentives or excitement-building programs that encourage consumers to purchase a particular product. This strategy is typically used in conjunction with other promotional mix elements. Trade incentives Sales promotions Direct marketing B2B programs Push programs

Sales promotions

What does SERP stand for? Must be exact.

Search engine results page

Veronica Jackson is taking a backpacking trip across Europe. She wants to make sure that the backpack she chooses is the best one for her adventure. She is spending a considerable amount of time comparing alternatives to make sure she selects the best one. For Veronica, this backpack represents what type of product? Specialty Shopping Convenience Luxury Comparative Unsought

Shopping

The "S" in BRICS stands for Sao Paulo South America South Korea Singapore South Africa

South Africa

Personal trainer and ShapeUp! gym owner Veronica Jackson searches the internet for any information she can get on her competitors. Veronica noticed that several fitness clubs have lowered the prices for the holiday season and she decided to do the same. Veronica is using a _______ pricing strategy. Premium Skimming Target profit Maximizing profits Status quo

Status quo

Which of the following is not one of the categories in Boston Consulting Group's Portfolio Analysis Model: Stars Question Marks The Long Tail Cash Cows Dogs

The Long Tail

Which of the following would be least sensitive to price increases? The prescription lenses for eyeglasses Nike Air athletic shoes ShapeUp! fitness gym membership Foster Grant designer sunglasses frames Tickets to ISU football games

The prescription lenses for eyeglasses

What is the most basic corporate social responsibility to employees? To ensure the highest pay for the work performed To ensure a safe working environment To ensure all potential conscious marketing issues are raised To assess each employee's level of confidence To ensure the firm primarily serves the community in surrounding neighborhoods

To ensure a safe working environment

All of the following are questions posed in the ethical decision-making metric except Would I want to see this action described on the front page of the local paper? Will this action help advance my career? Would the person I admire most engage in this activity? Can I give a clear explanation for my action? Will I be able to look at myself in the mirror and respect what I see?

Will this action help advance my career?

Which social media site is best suited to help consumers experience a product before buying? Trip Advisor Pinterest LinkedIn YouTube Yelp

YouTube

When CarMax promises a "no-haggle" pricing structure, it exhibits __________________ because it provides additional value to potential used car buyers by making the process simple and easy. a status-quo pricing structure a competitor orientation a customer orientation consumer parity competitive parity

a customer orientation

All of the following statements regarding corporate social responsibility are true except firms believe that they have legal and economic duties in addition to responsibilities to society. a firm's responsibilities to society are not associated with the demands, expectations, requirements, and desires of various stakeholders. CSR can be defined as context-specific actions and policies, taking stakeholders' expectations into account, to achieve what is referred to as the triple bottom line. today, virtually all large and well-known companies engage in some form of CSR. CSR actions are not mandated by law.

a firm's responsibilities to society are not associated with the demands, expectations, requirements, and desires of various stakeholders.

The term trade deficit refers to...... the sum of all goods and services handled in a country. an indicator of the quality of life in a country. a higher levels of imports than exports. a level of population growth that impacts exports. a country that exports more goods than it imports.

a higher level of imports than exports

How a product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer are all elements of a marketing plan. a marketing exchange. supply chain logistics. production management. delivery of the value proposition.

a marketing plan.

The difference between advertising and publicity is that advertising is more effective in reaching consumers. almost always used in conjunction with consumer satisfaction surveys. a paid form of marketing communication. designed to remind consumers, while publicity is used to persuade consumers. designed for very targeted audiences, while publicity reaches mass audiences.

a paid form of marketing communication.

The difference between advertising and publicity is that advertising is more effective in reaching consumers. designed for very targeted audiences, while publicity reaches mass audiences. designed to remind consumers, while publicity is used to persuade consumers. a paid form of marketing communication. almost always used in conjunction with consumer satisfaction surveys.

a paid form of marketing communication.

In the AIDA model, the do stage is the ________ stage. intention interest action awareness desire

action

One of Oscar Rodriguez's responsibilities is to manage Vision Innovation's retail spaces located in shopping malls. The goal of retailing is to add value to products and services sold to consumers for their personal or family use. communicate the firm's core values through product displays increase the volume of individual transactions made at a the individual points of sale separate wholesaling from manufacturing manage the marketing function at brick-and-mortar store spaces.

add value to products and services sold to consumers for their personal or family use.

Because of its size and relative power, Walmart can easily impose controls on small manufacturers, such as Brown Betty Dessert Boutique, but with large, powerful suppliers such as P&G, the control is more balanced between parties. Walmart's various marketing channel relationships offer examples of different forms of a(n) ________ marketing system. cooperative corporate independent administered vertical conventional horizontal

administered vertical

In the ethical decision-making metric, the question that asks "Would I want the person I admire most to see me doing this?" applies to the publicity test. admired observer test. moral mentor test. transparency test. person in the mirror test.

admired observer test.

Sheryl asked Nadira to help her buy some aftershave for her boyfriend. Nadira was going through a list of different brand names, when Sheryl stopped her and said, "I recognize that one." Marketers call this recall mapping. free association. aided recall. selective recall. top-of-mind awareness.

aided recall.

Brands can be owned by manufacturers. wholesalers. retailers. people. all of the above. none of the above

all of the above

After a firm has identified the various stakeholders and their issues and gathered available data related to an ethical decision-making situation, ________ should engage in brainstorming and evaluating alternatives. the senior managers most involved key customers elected officials all parties relevant to the decision any individuals with competing interests

all parties relevant to the decision

Oscar Rodriguez is trying to explain the difference between advertising and publicity to the CEO of Vision Innovations. In his explanation, Oscar should tell the CEO that advertising is designed to remind consumers, while publicity is used to persuade consumers is more effective in reaching customers compared to public relations allows for greater control of the message and is a paid form of communication is designed for very targeted audiences, while publicity reaches broad audiences is almost always used in conjuction with consumer satisfaction surveys

allows for greater control of the message and is a paid form of communication

Maria's Bakery is trying to determine what price to charge for its cookies, so Maria places a low price on them and raises it each week, keeping track of how many she sells. Then she determines what her cost was for the cookies and determines which price was the most profitable. What form of research was Maria conducting? observation survey scanner-based an experiment a panel

an experiment

Segmentation, targeting, and positioning are terms that can be used interchangeably in developing marketing plans. are part of a firms marketing strategy should be done simultaneously so synergies can help streamline the effort. are part of the marketing plan but bear little direct relationship to the marketing mix.

are part of a firm's marketing strategy

As vice president of marketing for Toyota, Adam Nguyen pays close attention to trends in Toyota's international markets. This includes tracking changes in tariffs. Tariffs are used by countries to reduce foreign competition and -to shorten supply chains -as a response to perceived unfair trade practices -as a way to equalize quotas -to stimulate consumer demand -to offer domestic discounts

as a response to perceived unfair trade practices

All of the following statements about public relations are true except media coverage generated by PR is seen as more credible than paid advertising. because of its high cost, the use of PR has waned in recent years. consumers have become increasing skeptical of marketing claims made in conventional media. PR has become increasingly important as costs of other forms of marketing communications continue to increase. public relations activities often support other promotional efforts.

because of its high cost, the use of PR has waned in recent years.

The major text portion of a print advertisement is called the headline. body copy. brand elements. photo credits. subhead. USP.

body copy

_____________________________________________________ is where the brand and the product have separate identities, but they are combined together, e. g. Apple iPhone, Sony PlayStation, Porsche Panamera, etc Tiered branding Combination branding both of the above neither of the above

both of the above

The following elements help form _______________________________________________ : name URL logos characters slogans taglines jingles/sounds labeling packaging - brand extension -brand equity -brand identity -brand promise

brand identity

Veronica Jackson's family has always driven a Toyota car, so when she went shopping for a new car, Veronica went to the Toyota dealership without thinking much about it. This demonstrates how [-----] facilitate(s) purchases. product features associated services core customer values brands distribution

brands

A firm's marketing communication strategy is formulated specifically to increase its social media presence. increase its frequency ratio. communicate the value of its product(s). increase its return on investment. control its public image.

communicate the value of its product(s).

When firms set prices similar to those of competitors, they are following a strategy of industry-standard pricing. me-too pricing. market-broadening pricing. copycat pricing. competitive parity.

competitive parity.

A company that sells only multigrain, low-calorie bread should use a(n) ________ targeting strategy. concentrated differentiated micromarketing mass undifferentiated

concentrated

Four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and ________ targeting strategies. geographic benefit-based economic global concentrated

concentrated

When marketers work in controversial or polluting industries such as tobacco or fossil fuels, their central activities largely bar them from becoming ethical human beings. conscious marketers. profitable. successful. recognized.

conscious marketers.

Personal trainer and ShapeUp! gym owner Veronica Jackson rarely worries about the actual costs of providing her programs. In her Principles of Marketing class at Iowa State University, Veronica learned that, in general, prices should not be based on costs because producers need to avoid creating a cost competitive parity debate. consumers are cost-conscious. customers are always right. producers rarely know what their costs are. consumers make their purchase decisions based on perceived value.

consumers make their purchase decisions based on perceived value.

Oscar Rodriguez orders sunglasses frames for Vision Innovations from a wholesaler. The wholesaler provides Vision Innovation access to a wide variety of glasses frames from multiple designers. In general, wholesalers sell to all of the following EXCEPT consumers. businesses. brick and mortar retailers. industrial users. online retailers.

consumers.

Franchising is the most common type of ___________________ vertical marketing system. cooperative corporate contractual administered conventional

contractual

The basic problem-solving benefits that customers are seeking refer to which product component? actual product augmented product associated services core customer value none of the above

core customer value

Oscar Rodriguez is excited to add a futuristic line of eye-wear to the product offerings Vision Innovation. Oscar has decided to invest in a promotional campaign with significant portion of the investment dedicated to advertising. He decided to do this because, compared to other elements in the promotional mix, advertising is extremely effective for creating awareness and generating interest in a product. reducing the potential for noise. decoding messages efficiently. repositioning consumers in the AIDA model. closing a sale

creating awareness and generating interest in a product.

Before going on his first business trip to China, Bradley asked his Chinese American friend to advise him on customs and values common among the Chinese businesspeople he will likely encounter. Bradley is trying to avoid ________ business blunders. reference group situational cultural cognitive evoked

cultural

Traditional demand curve economic theory is used by marketers to understand ______________ in the five Cs of pricing. company objectives competitors channel members cost customers

customers

Walmart is known for its efficient logistical systems. Every time consumers buy something, that purchase is recorded and sent to company headquarters, where it is used to generate reorders to vendors. In addition, customers' billions of purchases are analyzed to uncover patterns of consumers' purchasing behavior. This is an example of: data isolation. data mining. secondary data collection. sentiment mining. qualitative research.

data mining.

Marketers spend millions of dollars annually trying to create or reinforce brand loyalty. Brand loyalty changes the demand curve for the firm's products by reducing fixed costs and increasing the gray marketing effect. shifting the market from a monopoly to pure competition. making demand more oligopolistic and less monopolistic. increasing the income effect. decreasing the price elasticity of demand.

decreasing the price elasticity of demand.

Kellogg's marketing communications about its Special K cereal appeal almost exclusively to women. This is an example of __________ segmentation. geographic psychographic demographic benefits behavioral

demographic

Psychographics is the segmentation method that delves into how consumers adjust to demographic changes. allocate scarce incomes to a variety of goods and services. describe themselves. value their livelihoods. believe other people see them.

describe themselves

Oscar Rodriguez had developed an extremely successful advertising and promotion campaign for a Vision Innovation in United States. Oscar's boss wants to roll out the same campaign to markets worldwide. Oscar is cautioning against doing this most likely because differences in languages, customs, and culture might make the campaign meaningless and ineffective in some markets. he had not applied for or received international certification that was required for working outside the United States. he was unfamiliar with the code of ethics for advertising in other countries. copyright and intellectual property concerns prevented him from wanting to share his good ideas outside of the U.S. market. he did not have the budget for a global rollout.

differences in languages, customs, and culture might make the campaign meaningless and ineffective in some markets.

Oscar Rodriguez is working on a marketing plan for introducing Vision Innovation's eyeglass frames into Brazil. Oscar knows that segmenting, targeting, and positioning are more complicated when considering a new foreign market. This is because of cultural nuances, subcultures within a country, and... differences in the way consumers perceive themselves and the products they buy. complications due to franchise issues. currency differences. the taxes imposed by some foreign countries on marketing activities. anti-discrimination regulations, segmentation strategy, and targeting in developing countries.

differences in the way consumers perceive themselves and the products they buy.

Adidas Group owns Reebok, Rockport, and TaylorMade brands. Adidas uses the different brands to pursue a(n) ________ strategy. concentrated targeting micromarketing benefit targeting differentiated targeting undifferentiated targeting

differentiated targeting

Through a competitive analysis focusing on China, Toyota Vice President Adam Nguyen discovered that Tesla has reached an unusual agreement with the Chinese government. Tesla will be allowed to maintain complete control of its manufacturing plants, facilities, and overall operations within China. This is an example of a(n) [__________________]. direct investment exporting agreement franchise agreement joint venture strategic alliance

direct investment

In Vision Innovations promotional mix, Oscar Rodriguez wants to reduce mass media and to increase the use of personalized marketing communication messages. To achieve this goal, Oscar will likely increase his use of advertising price reductions direct marketing public relations sales promotion

direct marketing

Veronica Jackson will be a bridesmaid next summer in her friends wedding, and she purchased her dress online. The next time she turned on her computer, Veronica was surprised to see special offers for matching accessories. This is an example of which promotion strategy? sweepstakes direct marketing sales promotions personal selling public relations

direct marketing

Sophie made pies and sold them from her food truck to local businesses. This is an example of a(n) direct marketing channel. distribution center. simplified transaction. indirect marketing channel. block chain. vendor-managed inventory.

direct marketing channel.

A ____________ is a facility for the receipt, storage, and redistribution of goods to company stores. logistics center distribution center supply chain center fulfillment center floor-ready center cross-docking center circulation center

distribution center

Larry is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to develop a business mission statement. choose the best target markets. reposition existing segments. divide the marketplace into subgroups. conduct a SWOT analysis.

divide the marketplace into subgroups.

The Coffee Express company is located in a business district with few customers on the weekend. To attract customers on Saturday and Sundays, it reduces its prices on these two days. This is an example of the target return effect. cross-price elasticity. the income effect. dynamic pricing. the substitution effect.

dynamic pricing.

According to one definition, CSR can be described as context-specific actions and policies, taking stakeholders' expectations into account, to achieve what is referred to as the triple bottom line. The triple bottom line includes _________________________ performance. economic, social, and environmental economic, social, and political financial, economic, and social social, environmental, and political political, social, and environmental

economic, social, and environmental

Flo is frustrated with her company's supply chain management information system. She wants to be able to receive sales data, initiate purchase orders, send and receive invoices, and receive returned merchandise documentation. Flo needs a(n) cross-docking exchange. electronic data interchange system. vendor-managed inventory system. vertical conflict reduction system. radio frequency identification system.

electronic data interchange system.

Daniella is creating an advertising message designed to appeal to consumers' fears of having their home broken into. Daniella's message will focus on a(n) ________ appeal. emotional niche marketing informational institutional reminder

emotional

The Harvest County School Board is concerned about deteriorating school facilities, combined with a shrinking budget. The board began by studying the issue, and then identified parents, children, teachers, staff, and taxpayers as groups who have a vested interest in the problem. The school board has listened to each group's concerns. In the ethical decision-making framework, its next action should be to identify issues of concern to lawmakers. assess impact of its actions beyond the classroom. engage in brainstorming alternatives. choose a course of action. evaluate the legal ramifications.

engage in brainstorming alternatives.

The first step in the marketing planning process (i. e. in developing a marketing plan) is to identify the segmentation methods to be used. produce a list of strengths and weaknesses of the firm's past marketing strategies. establish the overall mission and objectives. select target markets. develop a marketing mix, so that an appropriate segment can later be identified.

establish the overall mission and objectives.

Caren has identified four potential market segments for her Rent-A-Chef home meal catering service. The next step is to categorize each market segment by consumer demographics. establish her overall objectives. decide on a targeting strategy. develop a positioning strategy. evaluate the attractiveness of each segment.

evaluate the attractiveness of each segment.

The IMC communication process includes all of the following except the receiver. evaluation. the communication channel. the sender. the transmitter.

evaluation.

Postpurchase cognitive dissonance is especially likely for products that are cheap, poorly made, and made of plastic. personally valuable, antique, or foreign-made. simple, easily copied, and new. psychologically soothing, purchased impulsively, and part of a consumer's evoked set. expensive, infrequently purchased, or associated with high levels of risk.

expensive, infrequently purchased, or associated with high levels of risk.

Katie Murphy is debating how to allocate the promotion budget for a Toyota dealership. She knows having knowledgeable salespeople in the dealership can simplify buyers' purchase decisions. Katie should also consider that, compared to other promotional elements, personal selling is difficult to track. expensive. ineffective. overrated. easy.

expensive.

Kia has to decide which college to attend. This is the most important, riskiest, and most expensive decision she has ever made. She will be engaged in low-involvement decision making. extended problem solving. habitual decision making. prepurchase dissonance. limited problem solving.

extended problem solving.

Among the various international trade agreements, NAFTA and now the United States-Mexico-Canada Free Trade Agreement (USMCA) represent the highest level of integration across individual nations. True False

false

Marketers choose SEO due to the speed and control it provides. True False

false

Setting high customer expectations is a good strategy that will help avoid customer dissatisfaction in the long run. True False

false

To build a sustainable competitive advantage, companies should focus on a single macro or overarching strategy. true false

false

Colin has just received a delivery from the company's distribution center. He opens the containers and finds the popcorn and snacks are all bar-coded and priced and the package includes an end-of-the-aisle display rack. Colin has received a(n) ________ shipment. quick-response packaged cross-docking lead time synchronized floor-ready RFID

floor-ready

Globalization refers to the processes by which goods, services, capital, people, information, and ideas flow across national borders. are onshored and offshored. are integrated through IMF facilitation. affect corporate culture. are similar in various markets.

flow across national borders

Marjorie manages an upscale women's clothing store. She wants more information about her customers' general feelings about upcoming fall fashions. Marjorie will most likely use ________ to gather this type of data. door-to-door surveys focus groups syndicated data sales invoices census data

focus groups

After he retires, Adam Nguyen wants to open a gourmet sandwich business. He has big dreams and hopes to expand internationally. Adam does not want to take a lot of risk in his global expansion. He is willing to limit his control of international stores. Adam will most likely use a(n) [-----] strategy. exporting direct investment joint venture franchising strategic alliance

franchising

A(n) ____________ is used in the shipment of products directly to customers. fulfillment center distribution center administration center data warehouse vendor warehouse

fulfillment center

By producing motorcycles that do more than get riders to their destinations and back, Harley-Davidson is addressing consumers' ________ needs. functional and social postpurchase and prepurchase safety and situational psychological and physiological functional and psychological

functional and psychological

The Tapestry™ Segmentation system divides and sorts small geographic areas into categories using 65 or more demographic and lifestyle characteristics. This market research tool is an example of ________ segmentation. geodemographic benefit psychographic loyalty geographic

geodemographic

Personal trainer Veronica Jackson is opening an new fitness center in Chicago. She is working on an advertisement to announce the grand opening. Veronica's first step in her advertising campaign is to make sure the store colors are consistent with her logo drive prospects to become members get consumers' attention. remind customers of her different locations enlist creative advertising designers.

get consumers' attention.

Marketers love consumers who engage in ________, buying their company's product with little thought or consideration of alternatives. compensatory decisions personal problem solving extended problem solving reference group consumption habitual decision making

habitual decision making

Juan has identified four potential market segments for his Rent-A-Nurse service. He will now compare the segments to see if they are distinct from each other. Juan is evaluating whether or not each segment is identifiable. responsive. profitable. reachable. substantial.

indentifiable

Hisaoki picks up the local newspaper and reads a stinging letter to the editor criticizing his beverage company for supporting a sporting event for children with disabilities. The letter writer is critical of a banner displayed at the event with the logos of alcoholic beverages and Hisaoki's company name. Hisaoki never considered that this problem might arise. Hisaoki's company failed to identify issues. promote the firm's corporate social responsibility efforts. analyze the needs of the industry. brainstorm and evaluate alternatives. choose a course of action.

identify issues.

Maria is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Maria will likely attempt to either provide the same quality at a lower cost or offset higher hotel rates with lower restaurant prices. improve products and services at the same cost. increase prices to increase revenue. reduce customer expectations through reduced service. lower the quality and the price.

improve products and services at the same cost.

Most big box retailers regularly move products from one aisle to another. They also put personal care products in the pharmacy area, many aisles away from the grocery products. They do this because consumers who spend more time walking through the store are likely to buy things they hadn't planned to buy, or make impulse purchases. limited problem-solving decisions. extended problem-solving decisions. ritual consumption purchases. affective alternative decisions.

impulse purchases.

Which of the following research methods would be best in helping a marketer understand how people feel about a product or service on an individual, detailed level? focus groups surveys social media monitoring primary data mining in-depth interviews

in-depth interviews

Tess is the marketing manager for a fast-food restaurant chain. She uses a target return pricing strategy because her firm's primary objective is to increase profits. build customer satisfaction. decrease competition. increase sales. broaden the product line.

increase profits

By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to stimulate supply chain management cooperation. influence social norms regarding sexuality. increase the perceived value of its products. encourage consumers to participate in product redesign. demonstrate social responsibility.

increase the perceived value of its products.

If the demand for a product increases, the demand for the complementary product will decrease. increase. become more inelastic. stay the same. become more elastic.

increase.

Veronica Jackson wants to increase the brand recognition of her personal training business "Shape Up!" She knows that brand recognition is important because a strong brand provides access to more advertising opportunities increases consumer awareness of product offerings reduces operational expenses meets government regulations minimizes the product mix needed to be effective

increases consumer awareness of product offerings

Oscar Rodriguez buys eyeglass frames from a variety of designers. Oscar sells those frames direct to customers via Vision Innovation's locations at shopping malls and the company's website. This journey of the product from the original manufacturer through to the customer would be considered an example of a(n) indirect marketing channel direct marketing channel simplified transaction wholesale operation complex transaction

indirect marketing channel

Oscar Rodriguez is working on a situational analysis to support Vision Innovation's expansion into Bangladesh. Oscar is considering the question, "How will we get our products to stores in Bangladesh?" Oscar evaluating the commerce [-----] in Bangladesh. communication infrastructure advertising pricing culture

infrastructure

Crest Toothpaste wants to get their products into as many outlets as possible, understanding that the more exposure a product gets, the more it will sell. Crest is using a(n) ____________ distribution strategy. intensive targeted big box selective exclusive

intensive

When Kyle began searching for a new car to replace her old, rusty one, she probably relied on ________ sources of information. interpersonal and sensual compensatory and noncompensatory ritual and spiritual psychological and functional internal and external

internal and external

Marketers are particularly interested in postpurchase behavior because it... involves both compensatory and noncompensatory consumers. offers insights into information search methods. avoids situational conflicts. involves actual rather than potential customers. involves both actual and potential customers.

involves actual rather than potential customers.

The strategic marketing planning process is a five-step process that should always be completed in order. is frequently used in reverse. begins with establishing specific, measurable outcomes. is not always sequential. forces marketing managers to think rationally.

is not always sequential

One key feature of the value of strong brand equity is that it can protect the firm from competition. it no longer needs to be supported by advertising and promotion. if it becomes a generic name, the brand is worth even more. it cannot be successfully imitated by a retailer's own brand. competitors will typically abandon a sector altogether rather than compete.

it can protect the firm from competition.

The observation that consumers are generally more sensitive to price increases than to price decreases suggests that firms gain more customers with price decreases than they lose with price increases. most consumers would rather skip buying a product than pay a higher price. most consumers cannot remember what price they paid the last time they bought a particular product. it is easier to lose customers with a price increase than to gain customers with a price decrease. most consumers are emotionally attached to their favorite products and are unlikely to change, even if the price changes.

it is easier to lose customers with a price increase than to gain customers with a price decrease.

A major advantage of primary data collection is it can be easily accessed through syndicated databases. it offers behavioral insights generally not available from secondary research. it takes less time to collect than secondary data. it is general enough to meet many different researchers' needs. it is less expensive to collect than secondary data.

it offers behavioral insights generally not available from secondary research.

Oscar Rodriguez is exploring the idea of expanding Vision Innovation into Brazil. His primary concern is addressing the differences in local market and gaining access to resources such as vendors and real estate. Oscar is looking for local firms interested in pooling resources, sharing risk and sharing the financial gain. Oscar will most likely select a(n) [-----] strategy. export strategic alliance franchise joint venture direct investment

joint venture

To build relationships, firms focus on the ________ of the relationship, not how much money is made during each transaction. cost length worth value lifetime profitability

lifetime profitability

Before flying, Jorden researches the types of planes the airline uses, scans the plane for defects as it taxis up to the terminal, and follows the pilot and crew as they come through the airport. He has no experience as a pilot or airplane mechanic. Jorden probably has a misguided sense of his postpurchase dissonance. locus of control. reference group identification. attribute sets. social risk.

locus of control

Tomas, a bank employee, doesn't feel that his coworkers accept him. He decides to dress more casually, as they do, hoping to be accepted. Which level of Maslow's hierarchy of needs is Tomas trying to work on? esteem physiological safety love self-actualization

love

Which of the following is least likely to provide a sustainable competitive advantage? lowering prices having a well-known brand name achieving high levels of customer satisfaction using patented technology creating an efficient supply chain

lowering prices

Veronica Jackson is working on a strategy to retain her current personal training customers. She should consider creating a [-----] which is are specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time. advertising campaign coupon rebate contest loyalty program

loyalty program

Many states create licensing requirements for a variety of professionals (such as lawyers and accountants) designed to restrict entry into their market by professionals from other states. This strategy limits ____________ growth strategies. product proliferation market development market penetration diversification product development segment development

market development

Which of the following growth strategies employs the existing marketing mix and focuses the firm's efforts on existing customers? product penetration diversification market development product development market penetration

market penetration

Many marketing students initially overlook the importance of marketing channel management because.... marketing channel management doesn't add much value for customers. marketing channel management is already transparent. many of these activities take place behind the scenes. companies do not want customers to know anything about the supply chain. marketing has no responsibility for supply chain management.

marketing channel management doesn't add much value for customers.

The sale of products that may damage the environment, the use of sweatshop labor, and the marketing of dangerous products are examples of internal, controllable marketing issues. issues that don't even need to be discussed in ethical firms. marketing issues but not ethical issues. marketing ethical issues. ethical issues but not marketing issues.

marketing ethical issues

A ________ strategy involves accurately measuring all the factors needed to predict sales and profits at various price levels, so that the price level that produces the highest return can be chosen. maximizing profits sales orientation status quo target profit target return

maximizing profits

The marketing research process follows five steps, and researchers may not always go through them in the exact sequence if the situation changes or new information is discovered. should maintain the integrity of the process by following each step sequentially and thoroughly. often collect data before defining the research objectives. should be prepared to present the results before completing the analysis if they are under a great deal of pressure to meet a deadline. may follow the process by completing all steps at once instead of planning the process first.

may not always go through them in the exact sequence if the situation changes or new information is discovered.

Many companies use the Internet to allow consumers to design customized products; for example, Nike allows customers to order shoes with custom color combinations. This is a form of micromarketing. concentrated targeting. psychographic segmentation. differentiated targeting. undifferentiated targeting.

micromarketing.

The ________ for natural skin care company Burt's Bees is to "create natural, Earth-friendly personal care products formulated to help you maximize your well-being and that of the world around you." mission statement. market analysis company description financial plan executive summary

mission statement

What type of competition occurs when there are many firms competing for customers in a given market but their products are differentiated? predatory competition pure competition oligopolistic competition monopoly competition monopolistic competition

monopolistic competition

A(n) ________ is a need or want strong enough to cause a person to seek satisfaction. locus of control motive attitude perception learning curve

motive

An advertisement for Titleist golf balls that airs on the cable television Golf Channel network is an example of what type of media channel? niche mass select product placement institutional

niche

Julia is developing a budget for her firm's IMC program. First she sets objectives. Then she chooses media, and finally she determines the cost for each product to be promoted. Julia is using the ________ method of establishing an IMC budget. track and decode objective-and-task sender-receiver rule-of-thumb competitive parity percentage of sales reach and frequency

objective-and-task

Jill's discount home furnishings store is in a strip mall. She wants to know what other businesses in the strip mall her customers visit when they come to her store. To collect information for this objective, Jill will most likely use door-to-door surveys. focus group interviews. observation. sales invoices. census data.

observation.

Which of the following segmentation methods is being used when M&M's offers special wedding-themed packaging for customized M&M's (imprinted with the names of the bride and groom)? occasion segmentation geographic segmentation lifestyle segmentation benefit segmentation loyalty segmentation

occasion segmentation

Sales promotions include all of the following except coupons. online ads. point-of-purchase displays. rebates. free samples.

online ads.

Samantha is charged with assessing her company's external environment as part of a SWOT analysis. Samantha will study her company's strengths and weaknesses. sales history. pension plan. product specifications. opportunities and threats.

opportunities and threats.

In a corporate vertical marketing system, conflict tends to be a major problem. independent firms at different levels of the marketing channel join through contracts to obtain economies of scale and coordination to reduce conflict. there is no common ownership, and the dominant member has significant power to impose its ideas and objectives. independent firms join together formally to decide how the marketing channel will operate. participants—such as warehouses, manufacturing plants , and retail outlets—are typically owned by a parent company to lessen potential conflict among segments of the channel.

participants—such as warehouses, manufacturing plants , and retail outlets—are typically owned by a parent company to lessen potential conflict among segments of the channel.

Limited problem solving usually relies on.... past experience more than on external information. situational stimuli and attitudes. external searches for information. financial analysis of performance risk. evaluation of the universal set.

past experience more than on external

Generally, people buy one product or service instead of another because they want to get the lowest price possible. perceive it to be the better value for them. prefer to avoid doing extended problem solving. have conducted a thorough internal search for information. are unaware of key determinant attributes.

perceive it to be the better value for them.

Effective promotion enhances a product or service's.... perceived value. trialability. design features. wholesaling capabilities. supply chain management system.

perceived value.

Cross-price elasticity is the.... -change in quantity of a product demanded divided by the change in its elasticity. -percentage change in quantity of a product demanded divided by the percentage change in its price. -percentage change in quantity demanded of Product A compared to the percentage change in price of Product B. -change in price of Product A divided by change in quantity demanded for Product B. -change in quantity of a product demanded divided by the change in its price.

percentage change in quantity demanded of Product A compared to the percentage change in price of Product B.

Katy has naturally curly hair and has often been disappointed with the haircuts she has received. When she moved to a new town, she approached her new office mates and several strangers with curly hair and asked them where they had their hair cut. She chose to spend considerable effort finding a new hair stylist based on the ________ associated with her purchase decision. evoked set reference group physiological risk performance risk financial risk

performance risk

What type of analysis does management use to evaluate the firm's various products and businesses and allocate resources according to which products are expected to be the most profitable for the firm in the future? portfolio analysis SWOT analysis situation analysis initial analysis positioning analysis

portfolio analysis

The main focus of __________________________ is how a product compares with its competition. segmentation targeting positioning marketing

positioning

Whenever Donald calls on potential pest control customers, he emphasizes the fact that, unlike the national franchise competitors, he is a local business person and has been in business over 20 years. Donald is __________ his business relative to his competition. segmenting packaging positioning pricing targeting

positioning

Personal trainer and ShapeUp! gym owner Veronica Jackson is expanding services to attract more customers. Veronica is leaning toward charging higher prices than her competitors to help demonstrate that ShapeUp! programs are high-quality products. Veronica is considering competitive parity pricing market leader pricing status quo pricing differential pricing premium pricing

premium pricing

Which of the following is not one of the macro or overarching strategies for sustainable competitive advantage: customer excellence operational excellence product excellence price excellence locational excellence

price excellence

If a healthy increase in price does not reduce demand, the demand would be cross-price elastic. price elastic. derived demand inelastic. status quo elastic. price inelastic.

price inelastic.

___________________________________________________________ are groups of associated items that consumers tend to use together or think of as part of a group of similar products or services. augmented products associated services product lines product mix none of the above

product lines

The complete set of all products offered by a firm is called its product line. product categories. product mix. product breadth. product line depth.

product mix

Actor Sissy Spacek once objected to a series of movie scenes that included her smoking a certain brand of cigarettes. She was probably objecting to a ________ arrangement the film company had made with an advertiser. promotional deal mass media buy product placement loyalty program sampling

product placement

When the publisher of the well-known Babar books wanted to celebrate the 80th anniversary of the series, it initiated a $100,000 campaign. Which of the four Ps does this campaign represent? performance place product price promotion

promotion

Reminder advertising is primarily used to prompt repurchase of a product. create and build brand awareness. accelerate market acceptance. gather information about consumers. persuade consumers to change existing perceptions.

prompt repurchase of a product.

For her personal training business ShapeUp!, Veronica Jackson has decided to work on developing and maintaining positive relationships with the media and community groups. Veronica is focusing on a(n) [-----] strategy. sales promtion advertsing direct marketing regional marketing public relations

public relations

Gretchen has just started as a fashion marketing intern for an up-and-coming design firm. She expected to immediately begin implementing the four Ps she had learned about in class. Instead, she was asked to work on a project identifying important events where celebrities might wear the fashions. Gretchen soon realized that this activity was part of ________, directly related to marketing. sales promotions cause-related marketing public relations press release development a push-pull strategy

public relations

First Lady Michelle Obama recorded an ad encouraging parents to teach their children good nutrition habits to stem the increase in child obesity. This message is an example of product-focused advertising. consumer-generated advertising. public service advertising. reminder advertising. a flighting campaign.

public service advertising.

What price competitive level would be indicated when the price is usually set according to the laws of supply and demand? pure competition monopolistic competition channel competition monopoly competition oligopolistic competition

pure competition

Anne's Pita Bread Chips offers free POP (point-of-purchase) displays to retailers ordering its product. Anne's is using a ________ strategy. pull puffery publicity push post-testing

push

When the marketing research problem is not clearly defined, a researcher will likely engage in __________ research. data mining qualitative survey quantitative experimental

qualitative

Bryan wants to sell personal website services to American soldiers in Afghanistan. Because of the difficulty of communicating with people in a war zone, Bryan may have trouble with this segment not being substantial. perceptive. identifiable. reachable. quantifiable.

reachable.

Caren has identified four potential market segments for her Rent-A-Chef home meal catering service. She will now evaluate whether or not each segment is attractive relative to all of the following except substantial. responsive. profitable. reachable. realistic.

realistic.

Conscious marketing encompasses all of the following overriding principles except... recognition of marketing's greater purpose. recognition of the company's bottom line. consideration of stakeholders and their interdependence. the presence of corporate leadership, creating a corporate culture. the understanding that decisions are ethically based.

recognition of the company's bottom line

A measure termed ________ describes how useful an ad message is to the consumer doing the search. relevance reliability impression awareness return on investment

relevance

In vendor-managed inventory systems, corporations send information to retail customers, bypassing wholesalers and retailers. companies send information to cooperatives. customers send information to retailers. sales reps send sales information to the retailer. retailers send sales information to the manufacturer.

retailers send sales information to the manufacturer.

The first objective in the evaluate performance phase of the marketing planning process is to... determine whether to raise or lower prices. adjust advertising allocations. find ways to cut costs. review implementation programs and results using metrics. consider changing the target market.

review implementation programs and results using metrics.

Many years ago Honda's Accord and Ford's Taurus were the two top-selling cars in the United States. As the year was coming to an end, Ford cut the price of the Taurus, hoping to outsell the Accord and allow Ford to claim that "Taurus is the best-selling car in America." Ford was using a ________ pricing strategy. sales orientation competitor orientation status quo customer orientation maximizing profits

sales orientation

When Veronica Jackson was in college, she served as a brand ambassador for Nunn Hydration. In this role, Veronica would give samples of Nunn Hydration products her exercise science classmates. Which element of the promotional mix does this describe? direct marketing mobile marketing advertising public relations sales promotion

sales promotion

Toyota VP Adam Nguyen has increased the investment in sales people at the dealerships. Adam believes an advantage of personal selling over other types of marketing promotion is that cold calling is easier than direct mail advertising. salespeople can build strong relationships with customers. personal selling requires less training than other types of selling. personal selling almost always costs less than other marketing communication alternatives. personal selling has greater reach than advertising.

salespeople can build strong relationships with customers.

When Betsy decided to open up a tea shop in the center of town, she chose a group of customers who represent her customers of interest. This group is called a sample. focus group. target market. demographic. potential customer.

sample.

Company sales invoices, census data, and trade association statistics are examples of primary data. data mines. secondary data. tertiary data. qualitative data.

secondary data.

Which of the following is not one of the four major growth strategies marketers typically utilize? market penetration market development segment development diversification product development

segment development

MAC cosmetics can only be found at specific retailers. The organization uses a _______________________ distribution strategy to maintain a particular image and control the flow of merchandise. selective intensive collective careful variable

selective

Pauline is about to open a new hardware store. She is making decisions regarding lighting, colors, and layout of merchandise. Pauline knows these ________ factors will influence consumers' purchase decisions. interpersonal extended habitual postpurchase dissonance sensory social

sensory

After using market research to identify the target audience for his advertising campaign, Jorge will next use this information to develop creative advertising copy. assess the potential effectiveness of his ad campaign. buy advertising time. set explicit and measurable objectives for the campaign. develop PSAs for distribution in lieu of advertising.

set explicit and measurable objectives for the campaign.

When Walmart issued new standards for livestock products that were raised on food without antibiotics or artificial growth hormones, it considered multiple ________, including the ranchers that supply the food, its customers, and animal welfare groups. stakeholders investors marketing executives bankers corporate shareholders

stakeholders

When conducting a research study attempting to understand what features were most important to automobile consumers, Cary's Research Company used a questionnaire containing ________ questions, with a predetermined set of response options. structured in-depth interview open-ended free-form unstructured

structured

Marta is concerned that one of the potential market segments she has identified for her dog grooming service is too small and has too little income to have sufficient buying power. Marta is concerned with whether the segment is substantial. responsive. profitable. reachable. identifiable.

substantial.

UPS, FedEx, and other shipping companies support other firms' ________ marketing goals. value communication promotion supply chain management retail management value capture

supply chain management

Marketing channel management is also known as a transactional orientation. supply chain management. endless chain marketing. wholesaling. production management.

supply chain management.

Unlike advertising, public relations accounts for a greater increase in marketing spending. converts mass media advertising into direct marketing. is considered a human resource function. should not be considered part of the marketing concept supports promotional efforts by generating free media attention and goodwill.

supports promotional efforts by generating free media attention and goodwill.

Quantitative research offers a means to confirm ideas through surveys or experiments. in-depth interviews. data mining. qualitative research. informal analysis.

surveys or experiments.

A form of sales promotion that offers prizes based on a chance drawing of entrants' names, ________ do not require the entrant to complete a task other than buying a ticket or filling out a form. contests deals sweepstakes premiums loyalty programs

sweepstakes

Jaleel is the marketing manager for a moderately well-known rock band. He wants to know more about industry trends including sales by different musical styles, online downloads, and concert attendance. Jaleel will most likely use ________ to gather this type of data. focus groups observation syndicated data sales invoices census data

synidicated data

There is a saying "Never go to the grocery store hungry." This saying suggests that a consumer's ________ state may adversely affect purchasing decisions. shopping social theoretical external temporal

temporal

Unlike product, promotion, or place, price is the only part of the marketing mix that is subject to gray market manipulation. that offers the opportunity for an oligopoly. that leads to competition. that generates revenue. that is determined by the consumer.

that generates revenue.

The greater the discrepancy between a consumer's needy state and the desired state, the greater time needed to satisfy the need. the effort consumers will invest in searching for alternatives. the consumer's need recognition will be. the size of the universal set will be. the amount of external information search will be needed.

the consumer's need recognition will be.

Sales of national brands of orange juice tend to increase when the economy is doing well, while sales of generic orange juice increase when the economy is not doing well. This is an example of how ________ impacts demand for products. cross-price elasticity the price inelasticity coefficient the income effect the substitution effect dynamic pricing

the income effect

All of the following are included in the decision-making metric except the publicity test. the likability test. the moral mentor test. the transparency test. the admired observer test.

the likability test.

Eddie was known for driving 30 miles just to save a dollar on the price of his favorite beverage. Eddie perceived price as ________ for a good or service, while most consumers recognize price as the ________ made to acquire a good or service. a fixed cost; variable payment the money paid; overall sacrifice the break-even amount; total cost a variable cost; fixed cost the overall sacrifice; monetary payment

the money paid; overall sacrifice

When Veronica Jackson set up her ShapeUp! business, she used penetration pricing in order to gain customers quickly in the very competitive market of personal fitness training. Now that Veronica is established, she is reluctant to raise her prices because she knows that when more choices exist in the market,..... the more sensitive consumers will be to changes in the price of a particular product. the lower the price elasticity for each product. the greater the income elasticity for each product. the easier it will be to utilize a target profit pricing strategy. the more likely the market will be characterized as an oligopoly.

the more sensitive consumers will be to changes in the price of a particular product.

Just as marketers create value by meeting the needs and wants of consumers, marketing researchers create value if the research is expensive. all participants like the research design. the research does not cost too much. the results will be used in making management decisions. the research is finished quickly.

the results will be used in making management decisions.

The consumer decision process model represents the concept of habitual decision making. the retrieval of an evoked set based on physiological needs. the steps that consumers go through before, during, and after making purchases. the shift from an internal to an external locus of control. the types of decisions all consumers must make.

the steps that consumers go through before, during, and after making purchases.

Getting merchandise floor-ready entails distributing and dispatching. ticketing and marking. vertical supply chain wholesaling. intensive cross-docking. selective checking.

ticketing and marking.

RFID tags are selective distribution designs used to maximize geographic efficiency. electronic discount information tags used to provide reduced prices to select customers. VMI demand scheduling data tags. tiny computer chips that transmit information about a container's contents information tags used for floor-ready merchandising.

tiny computer chips that transmit information about a container's contents

The effectiveness of an advertising campaign is assessed during the campaign by pull strategies. push strategies. tracking. flighting. pretesting.

tracking.

Leona is the logistics manager for the Barnes & Noble bookstore chain. She is weighing the many benefits of the company's JIT system, but will need to consider that just-in-time inventory management systems increase ________ costs. sales force labor transportation promotional advertising new product development

transportation

For products like clothes pins, which provide the same benefit for all consumers, marketers should probably use a(n) ________ strategy. concentrated targeting lifestyle segmentation benefit segmentation undifferentiated targeting differentiated segmentation

undifferentiated targeting

Neville is trying to create an advertising message that tells consumers how his company's cable and Internet services differ from other alternatives in the market. Neville is trying to create a(n) unique selling proposition. proportional benefit communication. institutional advertising message. PSA. flighting ad strategy.

unique selling proposition.

When Victoria's Secret offers different product lines, such as its Pink line, it is trying to capture the market by using segmentation, targeting, and positioning. offering everything to everyone. trying lots of options to find out which one works. doing continual test marketing. focusing exclusively on its Pink brand.

using segmentation, targeting, and positioning.

Chris has just started with a travel agency, and she has been offering clients and prospective clients a range of packaged tours. She is concerned because the commissions she is earning on her sales are lower than she had hoped. Her colleague Pete, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Pete's approach is based on his seniority at the firm. transaction-oriented marketing. premium pricing. special incentives from tour operators. value co-creation.

value co-creation.

The Stanley company wants Home Depot to carry all its tools but not the tools of its competitors so that Stanley can maximize its sales. But Home Depot carries a mix of tool brands so it can maximize the sales in its tool category. This misalignment of goals will likely lead to a ________ channel conflict. horizontal Independent conventional coercive vertical

vertical

New real estate disclosure regulations require sellers and their agents to tell prospective buyers about any existing problems with the property. Previously, they were expected only to answer buyers' questions. The new regulation addressed the marketing ethics problem of high-pressure sales techniques. deceptive pricing tactics. misrepresentation of company data. misleading advertising. withholding information.

withholding information.