MKTG 301 Exam 2

Which of the following is the best example of a persuasive advertising message?

"Buy now, pay later"

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

"Those are secondary data, and they may not be as timely, accurate, and relevant as what we need."

Samson rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $20, to cover maid service and utilities. His fixed costs are $100,000 and his profit last year was $20,000. For Samson, the contribution per unit is

$80

U.S.-based global marketers have often found that

European advertising regulations are more restrictive than those in the United States.

0.25 out of 0.25 points What is one of the drawbacks of using a price skimming strategy?

Firms must consider the high costs associated with producing a small volume of product.

What makes a high/low pricing strategy appealing to sellers?

It attracts two distinct market segments.

________ are specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time.

Loyalty customers

What is the best situation in the Circles for a Successful Value Proposition framework?

The firm's offering overlaps with customer needs/wants but not with competitors' offerings.

When a customer purchases a television at Best Buy, which of the following information flows in the supply chain are started?

The sale is transmitted to Best Buy's distribution center to adjust inventory data.

Which of the following is the best example of a mass media advertising channel?

USA Today

When conducting concept testing for her firm's new Internet antipiracy software, which is the most important question that Wanda should ask?

Will respondents purchase the software if it becomes available?

Assume the demand for electricity, a necessity with few substitutes, is −0.2. If the electric company raised its rates by 10 percent, we would expect

a 2% decrease in quantity demanded

When a company launches a new product line with an existing brand name, this is known as

a brand extension

Though advertising experts wish it were true, there is not always a direct link between a particular form of marketing communications and

a consumer's purchase

Public service advertising (PSA) represents

a form of sales promotion

Evelyn knows that prospective customers are likely to raise reservations about price and quality. She needs to convince customers that her products represent

a good value

Compared to conventional supermarkets, warehouse clubs have

a lower level of service

As a type of retailer, category specialists offer

a narrow but deep assortment of merchandise

For which of the following is demand likely to be most sensitive to price increases?

a specific brand of soft drink

Retailing is defined as the set of business activities that

adds 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.

administered vertical

Especially in the fashion industry where styles and trends change rapidly, a quick response system can

align deliveries more closely with actual sales

Freida is using a test model of her firm's new inline skates to see if they work according to the design specifications. She is involved in

alpha testing.

Some credit cards provide free liability insurance, funded by the bank issuing the card, when a customer pays for a rental car using the card. This extra insurance is an example of

an associated service

Bethany's Bakery is trying to determine what price to charge for its cookies, so Bethany 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 Bethany conducting?

an experiment

Star Heating and Air Conditioning Company specializes in electric heat pumps. Francis keeps track of the price of natural gas, knowing that

an increase in the price of natural gas will increase demand for his electrical heating systems.

Since Tobias' Auto Parts has had trouble with its windshield wiper manufacturer in the past, it is requesting a guarantee from the company before it will place another order. Which of the service quality dimensions is being addressed in this scenario?

assurance

The service dimension called ________ refers to the ability of the firm's employees to convey trust and confidence.

assurance

When conducting a survey about choosing vacation destinations, Michele should ________ in order to get reluctant respondents to provide honest information.

assure consumers that their individual responses will be kept confidential

Thomas wants to position his firm against his competitors. In doing so he should

avoid looking too much like the competitor so as not to confuse the target segment.

One of the reasons service failures need to be addressed quickly is to

avoid negative word of mouth from upset customers.

If many consumers in the marketplace are familiar with a brand and what it stands for and have an opinion about the brand, the brand has considerable

awareness

Which of the following are steps in the AIDA model?

awareness

The product life cycle is theoretically ________ with regard to sales and profits.

bell-shaped

YouEye is developing eye tracking technology that works with an individual's webcam. Instead of needing to spend thousands of dollars on eye tracking equipment and having customers come into labs, firms will be able to utilize everyday webcams to track not only what a person attends to on a computer screen but also his or her emotional reactions to these products. Firms such as YouEye are automating the

beta testing process

The term ________ refers to the enormous amount of information that firms now have access to but cannot handle using conventional data management and data mining software.

big data

With more than 310 million active customers and billions of pieces of shopping data, Amazon qualifies as a

big data user

When her salespeople bring in five new customers, Denisha gives them a $1,000 payment. This is an example of a

bonus

Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to generate ideas for names for a new beach resort. You are engaged in ________, a form of new idea generation.

brainstorming

Harley Davidson's cake decorating kit tried to appeal to the brand's unparalleled consumer loyalty, but it was considered too tame by their consumer base. This is an example of

brand dilution

When a restaurant chain, Curt's Homestyle Cooking, launches its own brand of frozen meals, this is an example of a

brand extention

Retailers need to provide a consistent ________ across all channels.

brand image

Katrina could not afford expensive furnishings but wanted a stylish home. After researching many options, she went to a local Target to purchase the trendy lamps, pillows, and art featured on its ads and website. As a consumer, which retailing challenge was Katrina likely responding to?

brand image consistency

When Disney flooded retail stores with products based on its movie Frozen, this illustrated

brand licensing

Mariska is working to create greater brand awareness for her company's new line of sports bracelets. Which of the following is important for increasing brand awareness?

brand name

In addition to extensive online and outdoor advertising, Under Armour has intensified its ______ efforts by signing Washington Nationals baseball star Bryce Harper to the biggest endorsement deal for an MLB player.

branding

A useful technique that enables managers to examine the relationships among cost, price, revenue, and profit over different levels of production and sales is called

break-even analysis

0.25 out of 0.25 points The basic reason manufacturers spend time and money building their own brands is to

build brand equity

British Airways Visa, created cooperatively by British Airways and Visa, is an example of

cobranding

If your company hired you to make sales calls via the telephone, it hired you to perform

cold calling

Sales representatives are often compensated, at least in part, on a percentage of the sales revenue. This percentage is known as a

commission

What financial reward system provides the most incentive for the sales force to sell?

commission

The basic goal of integrated marketing communications is to

communicate the value proposition to the target market.

The ________ gap can be reduced by managing consumers' expectations and promising only what can be delivered or possibly even a little less.

communication

Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to many other areas in the world. These products offered ________ with consumers' needs and priorities.

compatibility

0.25 out of 0.25 points Firms using a(n) ________ pricing method set their prices relative to what other firms are charging.

competition-based

In many high-end resort markets, Westin hotels compete directly with Crown Plaza hotels. When it comes to pricing, Westin tends to charge its guests similar rates to what the Crown Plaza hotels charge. Westin is using a ________ pricing strategy.

competitive parity

When firms set prices similar to those of competitors, they are following a strategy of

competitive parity

________ products are products whose demands are positively related and as such, they rise or fall together.

complementary

A company that sells only herbal iced tea should use a(n) ________ targeting strategy.

concentrated

0.25 out of 0.25 points The perceptions of ________ are being measured in a perceptual map.

consumers

For an advertiser, the target audience can be understood as

consumers designated by research as its focal market.

Eloise, a medical equipment sales rep, purchases a quick snack to eat on the way to work. She buys lunch while on the road visiting customers, and grabs bread and milk on the way home when she stops to buy gas. Eloise probably does the majority of this shopping at a

convenience story

Compared to other IMC alternatives, advertising is extremely effective for

creating awareness and generating interest in a product.

Through analysis of sales data, Lots of Lots retail store found that customers who bought peanut butter also tended to buy bananas. Lots of Lots was engaged in

data mining

"Buy one, get one free" is a ________ sales promotion.

deal

The first step of the marketing research process is

defining the objectives and needs

In order to anticipate demand, advertising and promotions must be coordinated with the

departments that control inventory

In a classic example of segmentation strategy, years ago Swift Meat Company transformed turkey meat into "Butterball" turkeys. In doing so, the company

differentiated its product.

Adidas Group owns Reebok, Rockport, and TaylorMade brands. Adidas uses the different brands to pursue a(n) ________ strategy.

differentiated targeting

The process by which the use of a new product or service spreads throughout a market group is referred to as

diffusion of innovation

________ enable the retailer to lower inventory investments systemwide.

distribution centers

When travelers are bumped from overbooked flights, they are frequently offered vouchers good for future travel. The dollar value of the voucher is the airline's estimate of

distributive fairness

Shannon is assessing the effectiveness of her firm's marketing communications. She knows the ultimate goal is to

drive the receiver to action

Marketers often use focus groups to learn how consumers interpret their IMC messages. Experience has shown that

each receiver decodes IMC messages in his or her own way.

Zoe recently bought Voice over Internet Protocol (VoIP) phone service. A few of Zoe's friends bought VoIP before she did, but many other friends were interested in Zoe's opinions of the new phone service. Zoe is a(n) ________ in this product category.

early adopter

The value of a brand is often calculated by assessing the

earning potential of the brand over the next 12 months

Increasingly, ________ are being used for promotions.

electronic communications

When Dr. Ross checked in at the Ritz-Carlton, it was 3 a.m. He had been traveling for over 12 hours and was exhausted. His suit, which he needed for a speech that morning, looked like he had slept in it. Dorina, the night clerk, offered to find a 24-hour dry cleaner and have the suit cleaned while Dr. Ross got a few hours of sleep. Dorina's actions are an example of

empowerment of employees to meet customers' needs.

Marketing expenditures allocated carefully can result in greater brand recognition, awareness, perceived value, and consumer loyalty for the brand, which all enhance the brand's

equity

Ambyah Fashions is launching a new line of one-of-a-kind designer jewelry. Each piece is handcrafted, and production volumes will be very low. To emphasize the unique nature of this jewelry, Ambyah Fashions will most likely choose ________ distribution.

exclusive

Academic researchers often jump at the opportunity to conduct a research study, curious to learn more and address unanswered questions for the sake of general knowledge. Businesspeople tend to be more cautious before embarking on a marketing research study, recognizing that primary research is often

expensive and time-consuming

Production of the DeLorean car, made famous in the film Back to the Future, never got above 25,000 units during its lifetime. Automobile industry analysts estimate that production of this car needed to reach around 300,000 units to achieve the ________, which refers to a decrease in unit cost as product volume increases.

experience curve effect

The ________ occurs when unit cost drops as the quantity sold increases.

experience curve effect

When Walmart relies on its experience and knowledge to decide how to market a product without giving the supplier much of a say in the matter, this is an example of

expertise power

Higher-income consumers visiting ________ feel like they are on a treasure hunt, searching for a bargain.

extreme-value retailers

The ________ loop allows the receiver to communicate with the sender in the IMC process and thereby informs the sender whether the message was received and decoded properly.

feedback

A ________ advertising schedule uses heavy advertising during some periods followed by periods of no advertising.

flighting

In the selling process, the saying "It ain't over till it's over" refers to the ________ stage of the process.

follow-up

What U.S. government agency has the primary responsibility in reviewing food and package labels to ensure claims made by the manufacturer about the product are true?

food and drug administration

Marketers often create a special marketing mix for loyalty segments because these segments are

generally profitable

Monique works as a salesperson in a retail clothing store. Of the five stages in the selling process, Monique is least likely to engage in

generating and qualifying leads

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

Which of the following is least likely to be a source of ideas for new products?

geodemographic segmentation

Moshe sells small-business health insurance programs, working on straight commission. Closing the sale is an extremely stressful point in the selling process for him. If he does not close the sale, the most likely outcome will be

he will generate income

Innovators are a critical group of new product adopters because they

help the product gain market acceptance.

Which of the following statements is true regarding distribution centers?

hey enable retailers to carry less merchandise in individual stores.

Because of ________, many companies have altered their "no questions asked" return policies to include time limits, "restocking" fees, and store-credit-only refunds.

high costs

Nelson is looking for data to help with a new marketing research study. When reviewing existing secondary data from a past research study, Nelson should pay careful attention to

how the secondary data were collected

In a competitive market, perceived value is determined by consumers mostly

in relation to the value of its close competitors.

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?

in-depth interviews

One important purpose of a brand is to

increase consumer recognition and awareness of product offerings.

Internet buyers are sometimes surprised to see online retailers using information about their past purchases to customize promotions targeted to them the next time they visit the retailer's website. The retailer is using the information to

increase the share of wallet from their best customers

The knowledge retailers can gain from their store personnel and customer relationship management databases is valuable for developing

increased customer loyalty

Lamar is assessing the long-term effectiveness of his firm's IMC efforts. He will probably analyze the firm's success in

increasing market share, sales, and customer loyalty.

The price elasticity of demand for a specific brand of deodorant is −.9. The market for this product is considered

inelastic

To maintain trustworthy customer relationships, companies must take care that they respect customer privacy and respect the ________—that is, the amount of information a customer feels comfortable providing.

information comfort zone

Whenever Conrado considers upgrading his personal computer system, he consults with Navin, a knowledgeable friend who always has the newest technology. For Conrado, Navin is a(n) ________ in the diffusion of innovation curve.

innovator

The California Raisin Advisory Board used to run ads featuring "The California Raisins," a fictitious R&B musical group composed of dancing raisins that boogied to the song "I Heard It Through the Grapevine." The ads, which were hugely popular and which gave rise to a line of raisin-themed merchandise, were designed to encourage raisin consumption. This campaign was an example of

institutional advertising

When marketers say that services are ________, they are referring to the fact that services cannot be touched, tasted, or seen, like a pure product can.

intagible

Because services are ________, it is often difficult for marketers to convey the benefits to consumers.

intangible

Some companies want to get their products into as many outlets as possible, understanding that the more exposure a product gets, the more it will sell. If this belief is consistent with the company's overall strategy, it will choose ________ distribution.

intensive

Coca-Cola wants its product available everywhere—grocery stores, convenience stores, restaurants, and vending machines. The more exposure the products get, the more they sell. The company is employing a (an) ________ strategy.

intensive distribution

When supply chain members view their goals and ultimate success as intricately linked, or ________, they develop deeper long-term relationships.

interdependent

In questionnaire design, a question such as "When was the first time you went to a dentist?"

is a question that respondents cannot easily or accurately answer.

Predatory Pricing

is illegal in the United States under both the Sherman Antitrust Act and the Federal Trade Commission Act.

A differentiated targeting strategy can allow a firm to obtain a bigger share of the overall market; this strategy

is likely more costly than an undifferentiated strategy.

Automobile manufacturers could build cars specially designed for very short people (for example, under five feet), but it is likely that this segment

is not substantial

If a firm promises more than it can deliver

it creates a communication gap

Students of marketing often overlook or underestimate the importance of place in the marketing mix simply because

it happens behind the scenes

The observation that consumers are generally more sensitive to price increases than to price decreases suggests that

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

One reason marketers of new, innovative products often start out with a price skimming strategy rather than a market penetration strategy is that

it is easier to lower prices than raise them

One of the difficulties associated with value-based pricing is that

it necessitates a great deal of consumer research to be implemented successfully.

For years, the Mogul Sheraton, a four-star hotel overlooking the Taj Mahal in India, offered free elephant and camel rides to hotel visitors. Few customers took advantage of this service. This is an example of a ________ gap in services marketing.

knowledge

When Juanita booked a room at the Wintergarden Resort, she expected that her room would be ready when she got there, the swimming pool would be heated, the advertised singer would be able to sing, and the breakfast would be fresh. When she arrived, she had to wait for her room, found the swimming pool to be 50 degrees, realized the singer could not carry a tune, and the free continental breakfast was stale. The Wintergarden Resort was experiencing a severe ________ gap.

knowledge

When the sequel to a movie eventually shows up on their regular television networks, ________ might watch it.

laggards

Rinaldo sells commercial-grade tools to building contractors. Whenever he visits his customers, he looks to see if they are using his tools for other tasks or have modified the tools for some other purpose. These customers are ________, who can provide ideas for new and improved products.

lead users

Supermarkets often offer great deals on milk or eggs to get customers into their stores, knowing that many customers will also purchase items that have higher markups for the store. These supermarkets are using a ________ pricing tactic.

leader

The additional sales that can be attributed to an advertising campaign are known as

lift

Service employees at the airlines' flight cancelation desks frequently encounter travelers who get emotional about canceled or delayed flights. The first thing these employees should do is to

listen to the customer

________ is the first step in service recovery.

listening to the customer

For marketers using a price skimming strategy, once the initial demand is met for new and innovative products, they will likely

lower the price to capture the next most sensitive market segment.

While JIT systems have many benefits, they

make the logistics function more complicated.

When a plumbing contractor drove up to Woody's house in a brand-new Mercedes, Woody decided this person would be too high-priced even before the plumbing contractor offered his bid. Woody made the mistake of

making an assumption of cost based on appearances.

When a marketer adjusts the marketing mix to give customers a clear, distinctive, desirable understanding of what the product does, the marketer is engaging in

market positioning

What tools help marketers make sense out of the data and use it to make appropriate business decisions?

marketing analytics

Walmart's "Everyday low prices" selling proposition is effective primarily because it is

meaningful to the customer

Pretty Practical, a fashion accessories retailer, encourages visitors to its stores to "check in" using a smartphone app. In return, customers receive an instant coupon toward that day's purchase. This is an example of

mobile marketing

Which of the following is being used by a store owner who sends out a text message to all of her preferred customers announcing the arrival of this season's new clothing?

mobile marketing

Which is a wireless network and mobile device that receives demand notices and allows sales associates to pull inventory from the shelves for customers?

mobile task management technology

If a firm is engaged in ________ competition, it should seek a way to differentiate itself.

monopolistic

With more frequent shipments associated with quick response (QR) systems, a retailer is

more likely to have what customers want

________ is the process of examining consumers' brain patterns to determine their responses to marketing communications, products, or services for the purpose of developing marketing tactics or strategies.

neuromarketing

________ is any interference in the IMC process.

noise

Dianne's Discount Clothing 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, Dianne will most likely use

observation

Adidas Group owns Reebok and Rockport—both of which offer different types of shoes. Having a variety of brands allows Adidas to use a differentiated targeting strategy to

obtain a bigger share of the shoe market.

________ training is excellent for communicating selling and negotiation skills, because managers can observe the sales trainees in real selling situations and provide instant feedback.

on-the-job

Managers and sales experts agree that certain personal traits, such as being ________, are necessary to be a successful salesperson.

optimistic

Myles worked selling products to industrial users and spent most of his time working on customers' new buy and modified new buy situations. Myles was primarily a(n)

order getter

When Parker was talking with his customer about the new accounting system, his customer mentioned that she thought the new system was not going to fit into their budget. Parker explained that once her people were trained on it, it would require less time to process orders, and therefore save her money in payroll. Which part of the sales presentation is demonstrated in this example?

overcoming reservations

A restaurant chain is working on improving the quality of its food and service. To track its progress, it recruits customers who agree to respond to customer satisfaction surveys once every three months over the next two years. What kind of data is the restaurant chain collecting?

panel data

Mario is the first retailer in town to sell games for Sony's latest version of its PlayStation gaming console. Mario wants to quickly capture as much of the market for the new games as possible. Mario will likely use a ________ pricing strategy.

penetration

With a ________ pricing strategy, marketers set a low initial price for the introduction of a new product or service.

penetration

Trade shows are a particularly good source of B2B sales leads because

people who attend are interested in the products and services being offered.

Cross-price elasticity is the

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

Because services like airline flights and hotel beds are ________, many marketers attempt to match demand with supply using pricing strategies.

perishable

Integrated marketing communications includes

personal selling

P&G's Tide laundry detergent has been around since 1948 and is still a market leader. P&G has used ________ advertising to reposition Tide several times over the product's life, trying to motivate new consumer segments to use the product.

persuasive

The Apple iPod changed the way people listen to music, but it also created an entirely new industry devoted to accessories such as cases, ear buds, docking stations, and speakers. The Apple iPod is considered a

pioneer product

Which element of the marketing mix specifically deals with supply chain management?

place

In the early stages of an ad campaign, the objectives are established. To determine if those objectives have been met, the marketer will

posttest

________ in a marketing channel exists when one firm has the means or ability to dictate the actions of another member at a different level of distribution.

power

The ________ stage occurs prior to meeting the customer for the first time and extends the qualification of leads.

preapproach

A major airline sells an aggressively low-priced ticket compared to a new low-fare airline which is trying to enter the market. The major airline may be accused of engaging in the unethical practice of

predatory pricing

If a telecommunications company drastically cuts the price for cellular phone service in order to eliminate local competitors, the company could be charged with

predatory pricing

In one test before product launch, customers try a sample product and are then surveyed to understand whether or not they would buy/use the product again. This is known as

premarket testing

Sarita belongs to a national consumer panel created by a market research company. She regularly receives samples of new products from a variety of firms and fills out questionnaires about the products. The national consumer panel Sarita is part of is engaged in

premarket testing

Consumers generally believe that ________ is one of the most important factors in their purchase decisions.

price

When marketers establish a price floor and a price ceiling for an entire line of similar products and then set price points in between for differences in quality among the products, they are using a ________ pricing approach.

price lining

In omnichannel retailing, what visible element must often be adjusted because of competition faced in different channels?

pricing

Because services like cruises and car rentals are perishable, many marketers use

pricing strategies to match supply with demand.

A ketchup bottle is an example of a ________ package.

primary

________ fairness refers to the perceived fairness of the process with which a firm handles customer complaints.

procedural

One afternoon, the clerk at the customer service desk of a large retail store got bored and started stating different return policies to each customer. Customers waiting in line and overhearing the different policies would probably feel that the store's handling of returns lacked

procedural fairness

If a new product concept gets positive evaluations from potential customers during concept testing, the next step for a firm is

product development

0.25 out of 0.25 points Venicia is assessing market growth, market competitiveness, and market access for each segment she has identified. Venicia is assessing the ________ of each potential market segment.

profitability

A university using benefit segmentation and targeting students who want to get a degree quickly while still working full-time would most likely focus on

providing classes at convenient times and offering online courses.

LeeAnna knows she has to order her store's Christmas holiday merchandise in April to ensure delivery before the holiday season. LeeAnna is concerned with the supply chain management goal of

providing products at the right time

Baby Boomers represent a huge demographic segment for travel marketers. Baby Boomers are also heavily motivated by self-fulfillment, which creates the possibility of ________ segmentation.

psychographic

An advertisement featuring a cartoon Smokey the Bear saying "Only you can prevent wildfires" is an example of a successful

public service announcement

Whenever the major beverage companies develop a new product, they advertise it heavily using television and print media. These efforts are designed to

pull the product into retail stores through consumer demand.

A ________ advertising schedule uses a base level of advertising during some periods followed by periods of increased advertising.

pulsing

________ is an inventory management system that delivers less merchandise on a more frequent basis than in traditional inventory systems.

quick response

Mario decided to purchase an electronic toothbrush priced at $100 because of a special offer from the manufacturer. By sending proof of purchase and the receipt to the manufacturer, he could receive a $40 check in return, making the final price $60. This pricing tactic is known as a

rebate

Because manufacturers with JIT systems produce merchandise closer to the time of sale, they can

reduce inventories needed to satisfy retailers' demand.

Dante always buys and uses Bridgestone brand golf balls. If he finds a Titleist or Callaway ball in the rough, he gives it away. Brand-loyal golfers like Dante allow Bridgestone to charge a higher price and not lose many sales. By building a strong brand, Bridgestone has effectively

reduced the price elasticity of demand for its products.

Marketers advertising an artificially high "regular price" are unethically attempting to influence consumers' ________ perceptions.

reference price

The advantage of zone pricing to the seller is the shipping charges typically

reflect more closely the cost of delivery.

After defining objectives and research needs, the next step in the marketing research process involves

research design

The building blocks of service quality are reliability, assurance, tangibles, empathy, and

responsiveness

When Costco sells to consumers directly, it acts as a ________; when it sells to other businesses, such as a restaurant owner, it acts as a ________.

retailer; wholesaler

Denman tells a colleague about a major prospect he plans to call on in the next few days and asks the colleague to pretend to be a customer while he makes his sales presentation. Denman and his colleague are engaged in

role-playing

Using prior sales and communication activities to determine the present communication budget describes which method of IMC budgeting?

rule-of-thumb

________ involves the planning, direction, and control of personal selling activities, including recruitment, selection, training, motivation, compensation, and evaluation of members of the sales force.

sales management

Red Bull sends out student brand managers to distribute free samples to their peers. Which form of marketing communication is this?

sales promotion

Abdul's firm has set corporate direction to become one of the leaders in each of its significant market segments. It was Abdul's job to examine the firm's pricing strategy to determine how to maximize market share, even at the expense of profits in the short run. What kind of company objective would guide Abdul's effort?

sales-oriented

When Amana offers its air conditioner dealers an additional discount if they place their orders and receive delivery before April 1, prior to the summer season, Amana is offering a

seasonal discount

Price reductions offered on products and services to stimulate demand during off-peak seasons are referred to as

seasonal discounts

A marketing research project often begins with a review of the relevant ________ data.

secondary

Both major political parties have developed proprietary databases that contain vast information about voters, broken down by demographic and geographic information. This kind of information is

secondary data

Which of the following would be used in calculating the profitability of a segment?

segment size

If a manufacturer isn't happy with either intensive or exclusive distribution, a logical choice, which incorporates some features from both, would be ________ distribution.

selective

Manufacturers might use ________ distribution by allowing only a few selected retail customers in a territory to sell its products.

selective

Beverage companies often use television commercials with images of young people laughing and enjoying themselves on a beach or in a club. These images are designed to appeal to consumers' ________, suggesting "be like me."

self-concepts

Viola is taking a backpacking trip across Europe. She wants to make sure that the backpack she chooses is the best one for her adventure, so she is spending a considerable amount of time comparing alternatives to make sure she selects the best one. For Viola, this backpack represents what type of product?

shopping

Sales representatives add value for customers by

simplifying communication with the firm.

Which of the following markets is most likely to be characterized by oligopolistic competition in the United States?

smartphone service providers

Firms that are engaged in sentiment mining are analyzing data collected from

social media sites

The head of the marketing area told Alisha to find the most stringent federal regulations on advertising to create the toughest standards. "If we can pass those, we should be able to get by all regulations." One real problem is

state regulations are not always consistent with federal standards.

When Delta increases its average fares, American Airlines and United often follow with similar increases. This is an example of

status-quo pricing

Retailers address the conflict between consumers wanting or needing only one item and manufacturers wanting to produce and ship in quantity by providing

storage

Suzanna is concerned that one of the potential market segments she has identified for her mobile veterinary service is too small and has too little income to have sufficient buying power. Suzanna is concerned with whether the segment is

substantial

Public relations is the component of IMC that

supports other promotional efforts by generating free-media attention.

Sarita goes through the newspaper looking for coupons to help reduce her living expenses. Her roommate Pilar doesn't read newspapers, let alone look through them for coupons. But Pilar filled out a form from inside a cereal box entering her in a drawing for free exercise equipment. What kind of sales promotion reached Pilar?

sweepstakes

It is almost impossible to watch a sporting event on television without seeing Nike's "swoosh" check mark, which is Nike's

symbol

Which of the following would be considered a logo without words?

symbol

The Broadmoor Hotel in Colorado Springs, Colorado, maintains its five-star rating by focusing on five service characteristics: reliability, responsiveness, assurance, empathy, and tangibles. The hotel has been updating rooms built in the early part of the 20th century to meet the needs of 21st-century visitors. To accomplish this, it spent millions in improvements, renovating rooms, and adding a new outdoor pool complex. These renovations focus on the ________ service characteristic.

tangibles

Many restaurants roll out new ideas first in Orlando, Florida, a location that attracts a vast range of diverse tourists and thus might offer insights into what various consumer groups will like. This is an example of

test marketing

If you send an email and include a link, you can track how many people took the desired action of clicking on the link. This is known as

the click-through rate

Retailers can gain valuable knowledge about their customers from the transaction process and from

the insights of store personnel

Marissa is driving down Interstate 95 on her way from New England to Florida and sees a billboard saying, "South of the Border Restaurant and Motel is just 100 miles away." Marissa has never heard of South of the Border before. After seeing the sign, she will most likely need additional exposure to the product before deciding whether to stop at South of the Border. This is an example of

the lagged effect

Reaching the right audience with marketing communications is becoming more difficult because

the media environment has become more complicated.

The more substitutes that exist in a market,

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

To estimate reach in terms of electronic media, marketers can use the click-through rate (CTR). To do so, they need to know the number of clicks and

the number of impressions

Why would a firm eliminate an item within a product line?

the product undermined its own brand

One of the most fundamental activities of retailers is to provide ________, satisfying the needs of their target market.

the right mix of merchandise and services

Which of the following is considered a major consideration in determining an advertising budget?

the role of advertising in overall promotional objectives

One problem in relying on price elasticity and demand curves when setting prices is

the way a product or service is marketed can have a profound impact on price elasticity.

In simple terms, the AIDA model is also known as the ________ model.

think, feel, do

0 out of 0.25 points The effectiveness of an advertising campaign is assessed during the campaign by

tracking

Zappos.com, an online shoe store, offers an easy, no-hassle return procedure. This relates to the ________ of its products.

trialability

When consumers are ________, observation becomes particularly useful in understanding consumers' preferences.

unable to articulate their experiences

________ compares the price of a product to its benefits.

value

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.

vertical

Supercenters are large stores that combine a supermarket with a full-line discount store. ________ dominates this category with the vast majority of supercenters in the United States.

walmart

Frederico was assigned to help create a positioning strategy for his employer's products based on product attributes. He should consider

what the target market would consider the most important features.

Rashid works for a firm that buys products directly from the manufacturer and resells them to retailers, who then sell the products to consumers. Rashid works for a

wholesaler

Bev is assessing the results of a new product launch of a series of e-books for her bookstore. When evaluating the results, Bev is least likely to consider

why it took her so long to consider the new product line.

Karson Manufactured Homes charges $500 for deliveries within 50 miles and $800 for deliveries 51 to 100 miles away from their factory. The company is using a ________ pricing tactic.

zone

When Camden Bank required all customers to use its online banking services, over 30 percent of its customers closed their accounts. In this scenario, Camden Bank's service fell outside customers'

zone of tolerance