MKT Strat Test 4
A technology company wants to increase sales for their newest product, so they decide to invest in advertising and direct marketing for the product. This is an example of
A pull strategy
It is possible that an ___ vertical marketing system can be more formally structured through strategic alliances and partnership agreements among channel members that agree to work in mutual cooperation. An example of this is the relationship between Walmart and Procter & Gamble
Administered
Hirohito notices an advertisement for a pair of headphones that claim to be good for filtering out background noise and he realizes they might be helpful for his noisy workplaces. When he goes into work the next day, he notices the noise and thinks about how nice it would be to have those headphones. What stage of the decision proces is Hiroki now in?
Affective
_____ intermediaries perform a variety of physical distribution, transactions and communication, and facilitating functions that make exchange possible. They do not take title to the product
Agent
Essential electronics is a wholesaler of electronic goods in the city of urbanization. The company sells goods manufactured by UrbCell. The wholesaler enjoys a monopoly because it is the only intermediary selling those products in teh city. This is an example
An exclusive territory
Martina has developed a new product completely unlike anything else on the market. In which AIDA stage should she spend most of her investment in communication to potential customers
Attention
You should be careful when using ___ pricing, as it is always possible that the quantity demanded will not match the marketing managers forecast
Average cost
_____ enhance utilities by providing a wide array of specific functions including physical distribution functions, transaction and communication functions, and facilitating functions
Channel intermediaries
What three steps do customers pass through when making purchasing decisions
Cognitive, affective, behavioral
_____, one of the seven dimensions used by researchers to define a website interface, is a sites ability to enable transactions while keeping data secure
Commerce
_____ is the functionality in websites that allows companies to interact with customers in three key ways
Communication
Mikio owns a driving range in a suburb of Chicago. He has taken notice of the three competitors who are located very close to his business. Mike decides to look at the other driving ranges pricing and then determine his best pricing strategy based on all of the information. In this scenario, Mikio is utilizing
Competitor-based pricing
A value network perspective is a macro level strategic approach that is being adopted by many firms in part because of the intense competition to cut____ and maximize __ every step of the way to market
Costs; process efficiencies
Joachim purchased an alarm system for his car during a promotion. He considered the price during the promotion to be very attractive. However, he later learned thta the from set an artificially high reference price for the alarm system just before the promotion to make the advertised sale more attractive. Joachim just experienced
Deceptive pricing
Lan maintains a cooking blog, and she often mentions products by name if she feels they are especially nutritional and easy to obtain. This is an example of ____ media
Earned
Logistics and other processes are managed using sophisticated and integrated
Enterprise resource planning systems
Sierra is the marketing manager for sporting goods store, and she's preparing the company's promotional strategy for the upcoming holiday season. She has identified the targets for the promotion. What should she do next?
Establish goals for promotion
The rise of Walmart as one of the world's largest corporations has brought the concept of ________ to the forefront of global consumer consciousness.
Everyday low pricing
A wine distributor sells high end wines to liquor, wine, and spirts wholesalers who have built relationships among select restaurants and hotels. This distributor employs a ____ strategy
Exclusive distribution
Nalini is a salesperson for appliances in hardware and home goods store. She sees a customer testing the settings on a sophisticated model of washing machine. What should the next step be
Explain how the product can fulfill that particular customers needs and wants
_____ what originally started as a site for college students to connect with each other
In the past_____ allowed manufacturers to establish artificially high prices by limiting the ability of wholesalers and retailers to offer reduced or discounted prices
Fair trade laws
A clothing company sells its goods in physical stores, through their online website, through a paper catalog, and through a mobile app. This is an example of
Omnichannel Retailing
Organizations should engage in ____ social networking platforms
Only the most relevant
The goal of __ is to share resources, especially knowledge based resources, to effect optimally profitable relationships between two channel members
Partner relationship management (PRM) strategies
When a firms objective is to gain as much market share as possible, a likely pricing strategy is _____, sometimes also referred to as pricing for maximum marketing share
Penetration pricing
____ is a critical component that plays into a customers assessment of the value afforded by a firm and its offerings
Price
Maurice has just completed a. New line of designer handbags. HE wants the price to communicate to the customer that the handbags are high quality and exclusive, so he sets hte price high. He knows that after this season the price may need to bdecrease as the market evolves. Maurice is using a _____ strategy
Price Skimming
Channel members add their value by bridging gaps in form, time, place, and ownership that naturally exist between
Producers and consumers
CNET, Urbanspoon, and Consumersearch are examples of ________.
Product and service review sites
The means by which one informs, persuades, or reminds potential customers is called
Promotion
Zara is using a combination of digital and social media marketing, advertising, sales, promotion, public relations, and personal selling in order to achieve an acceptable ROI. Zara is using the
Promotion strategy
Creating a perception about price merely from the image numbers provide the customer demonstrates ___ pricing
Psychological
Martha runs a hardware store. She learned that customers process the price of 9.99 as significantly lower than the price of 10.00 because of the reduced digit count in teh price point. Accordingly, she follows this rule to set up the prices for all the products. Martha uses a ____ strategy
Psychological pricing
A manufacturer employing _____ strategy focuses much of its promotional investment on the end-user consumer
Pull
Beautiful home is a discount furniture store. Most of the items in the store are overstock, so they tend to be more inexpensive than other furniture .Recently Beautiufl home started to display the manufacturers suggested retail price next to the price it charges to show the savings. Beautiful home is using ___ strategy
Reference pricing
A group of local farmers in Charlotte sells their produce in the market every day. They band together to gain cost and operating economies of scale in the marker for selling their produce. This is an example of a
Retailer cooperative
A food wholesaler purchases different fruits from local farmers and then sells them to local restaurants and retailers. If the fruits spoil before the wholesaler sells them, it takes the loss. As an intermediary, the wholesaler is performing the function of
Risk-taking
____ are typically expressed as greatly extended invoice due dates
Seasonal discounts
To better take into account the differential impact of fixed and variable costs, marketing managers can use _________________. A. Cost-plus pricing B. Price war C. Markup on sales price D. Average-cost pricing E. Target return pricing
Target return
Pricing objectives very frequently are designed to maximize profit, which necessitates a __ pricing strategy
Target return on investment (ROI)
____ provided an incentive to a channel memebr for performing some function in the chanel that benefits the seller, such as stocking a product or performing a product service
Trade discount
One drawback that is particularly relevant to ________ is the user expectation of very quick and timely response to questions or comments.
When shipping prices are based on the distance from teh shipping location, it is considered ____ pricing
Zone
____ means the shortening or collapsing of marketing channels due to the elimination of one or more intermediaries, which is common in the electronic channel
Disintermediation
Bryce a production manager at a company, has decided to take a value network approach to create a competitive advantage over the company's competitors. In the contexts of network organizations, this approach will make the company's operations more
Nimble
Firms and brands that continually attempt to operate in the ___ quadrant of generic price- quality positioning map may damage ther relationships with customers and not survive
High price, Low benefits
____ is used by firms thta rely on periodic heavy promotional pricing, primarily communicated through advertising and sales promotion, to build traffic and sales volume
High/low pricing
Unresolved channel conflict can result not only in an uncooperative and inefficient channel, but it can also ultimately impact end-user consumers through
Higher prices
_____ goods are appropriate for intensive distribution, as their sales rely on the consumer seeing the product, feeling an immediate want, and being able to purchase now
Impulse
_____ refers to sourcing materials and knowledge inputs from external suppliers to the point at which production begins
Inbound logistics
The affective steps of AIDA are
Interest and desire
______ is the application of marketing concepts and strategies inside an organization
Internal marketing
______ is the amount of price increase that can be taken without affecting customer demand
Just noticeable difference (JND)
A recent study found that about 70 percent of Americans consult either a user review site or an independent review site before
Making a purchase
A vertical _____ system consists of vertically aligned networks behaving and performing as a unified system
Marketing
In a push strategy, the focus is on
Members of the channel who are targeted for promotion
Digital ads designed to blend in with the format and style of the content that is offered through a website are called ___ website
Native
