MKTG 3213 exam 2
Firm A is selling a product for $40, while their major competition is selling the same product for $50. Firm A is trying to decide whether to market their price as "$10 off" or "20% off." According to the majority of research, which strategy would be the most effective? • 20% off • $10 off • They will be equally effective • There is no way to determine effectiveness
20% off
Which of these is the best example of display advertising? • Banner advertisement • Email promotion • Broadcast • A billboard
Banner advertisement
What is the definition of a national brand? Brand name owned by the producer of the product carrying the brand Brand name carried in at least 60% of national stores Brand that has achieved national recognition Brand that has achieved the status of generic trademark
Brand name owned by the producer of the product carrying the brand
What is a main risk of using email promotions? • Consumers ignoring emails • Cost of sending mail • Privacy issues • Cannot target emails effectively
Consumers ignoring emails
With which of the following actors in the Immediate Environment are marketers usually most concerned? • Customers • Governmental Bodies • Shareholders • Suppliers
Customers
Which social medial site is best suited for business to business marketing? • LinkedIn • YouTube • Facebook • Twitter
What is the point of on-site SEO? • Prove to Google that your content is relevant • Prove to consumers that your content is popular • Improve business to business marketing • Increase pay-per-click
Prove to Google that your content is relevant
Pay-per-click marketing is also known as: • Search marketing • Online advertising • Bidding • Google mining
Search marketing
Social media marketing, when compared to normal social media use, uses the platform: • Strategically • Aggressively • Passively • More often
Strategically
According to the article, what is a current concern of many organizations along the banana supply chain? • Vulnerability to fungus • Over-filling current demand • Too much variety in species • Competition
Vulnerability to fungus
When determining which social media platform to use for marketing, where should marketing professionals look? • Where the target segment is best represented • Where the largest number of users are active • What is "cool" or trendy • Where millennials are most active
Where the target segment is best represented
In terms of units sold, what percentage of products sold at all outlets are private-label brands? 21% 50% 33% 15%
21%
How did changing the name of an island from Hog Island to Paradise Island help that island's tourism industry? A functional benefit came from changing the island Changing the name did not help The book value of the island increased Added value came from a more appealing name
added value came from a more appealing name
Which of these is not an example of broadcast advertising? • Billboard advertisement • TV advertisement • Radio advertisement • All of these are examples of broadcast advertising
billboard advertisement
Memory nodes that are linked to a particular brand are: brand recognitions brand associations brand marketing brand recall
brand associations
Which of these is not a type of brand association? brand attitudes brand attributes brand memories brand benefits
brand memories
In the SPIN model, what is the purpose of implication questions? get the customer to project how our product would help their problems ask for financial commitment determine implications of the problems determine the problems currently faced by the customer
determine implications of the problems
In the SPIN model, what is the purpose of problem questions? tear down all competitors' products admit to the problems in your own product provoke the consumer into an emotional response determine the problems currently faced by the customer
determine the problems currently faced by the customer
What is the reason for so many levels existing between the producer and end-user? prices are lower across the board with a greater number of levels convenience only each level adds some kind of value to the end user each level makes some degree of money
each level adds some kind of value to the end user
What is defined as factors such as employment, income, inflation, interest rates, productivity, and wealth that influence the buying behavior of consumers and businesses? • Economic Environment • Social Environment • Consumer Analysis • Extenuating Circumstances
economic environment
Intermediaries should always add ________ to the system. • Efficiency • Effectiveness • Cost • Competition
efficiency
All promotional tools are equally effective in all promotional situations. • True • False
false
Bing is often dismissed, but can still be a good place to run advertisements • True • False
false
Brand Recall tasks are generally seen as much easier than Brand Recognition tasks. True False
false
Customers are always the group that requires the most attention from the firm. • True • False
false
Intermediaries create significant change in the final product as it travels from the producer to the customer. • True • False
false
It is common for consumers to go past the first page of their Google search. • True • False
false
Manufacturers that produce national brands only sell products with their own brands on them. True False
false
More than 90% of Fortune 500 companies have a full-time job dedicated to pricing. • True • False
false
Online display advertising is exactly the same as pay-per-click. • True • False
false
Only Gen X and millennial demographics are represented on social media. •True • False
false
Only certain demographics can be reached using Facebook. • True • False
false
Transactional selling focuses on the customer relationship. True False
false
When creating a brand map, a word cloud is always more useful than a table. True False
false
You do not need to understand margin and markup if you are using value-based pricing. • True • False
false
You should quote prices of related items for consumers to use as anchors, because using unrelated product prices is always ineffective. • True • False
false
Which of these companies could be said to follow the guideline of conciseness most closely? Gap Harley-Davidson Motor Company American Eagle Outfitters Jacobs by Marc Jacobs
gap
What happens in the Preapproach stage of the personal selling process? gather information about the prospect and determine how best to approach reach as many potential consumers as possible research the product and study its features approach the prospective customer
gather information about the prospect and determine how best to approach
What is the difference between generalist and specialist wholesalers? Specialists market to companies; generalists can market to individual consumers Generalists market to companies; specialists can market to individual consumers Specialists sell many different products; generalists sell a specific range Correct! Generalists sell many different products; specialists sell a specific range
generalists sell many different products; specialists sell a specific range
Google determines the best _________ and the best bid to determine the best ranking. • Quality score • Web traffic • Popularity • Web appearance
quality score
Psychological pricing is primarily concerned with: • how consumers perceive the price • how employees perceive the price • how competitors perceive the price • the elasticity of the stock market
how consumers perceive the price
What are the two functions of a brand? compete and improve identify and differentiate market and recruit locate and determine
identify and differentiate
Brand awareness is associated with the ability of the brand to __________ who is offering a product or service, while brand association is associated with the ability of the brand to ____________ from competitors. identify; differentiate separate; connect respond; attack differentiate; identify
identify; differentiate
What is contextual targeting most similar to? • Keywords • Pay-per-click • Data mining • Customer service
keywords
Consumers compare an observed price to an internal reference price or external frame of reference. What is this called? • Reference pricing • Competitive advertising • Budget comparison • Frame of reference
reference pricing
_______ is not about what we put into our product, it's what our customers get out of it. • Value • Price • Marketing • Evaluation
value
Which of the following describes peak load or congestion pricing? • variable rate depending on time of day or week • charging the peak industry price at all times • variable price based on region or county • price assembled as you add options
variable rate depending on time of day or week
What is dynamic pricing? • variable rate for each customer • standard, flat rate for each customer • price determined from bargaining • price set to change with stock prices
variable rate for each customer
When pricing a product in other countries, what should companies be sure to do? • set prices that cater to cultural beliefs • nothing different from standard pricing strategy • always price up • always price down
set prices that cater to cultural beliefs
What is market penetration pricing? • setting a low price for a new product to penetrate the market • lowering the price of old products • introducing a minimal version of an established product • jumping to a new target market
setting a low price for a new product to penetrate the market
What is odd-even pricing? • setting prices a few dollars or cents under an even number • setting prices at alternating odd and even values • bundling products in odd or even numbered quantities • a method used for clearance sales only
setting prices a few dollars or cents under an even number
Which of these companies is more likely to use an institutional branding strategy for a new product or service? ServiceMaster Sony Nestle Procter & Gamble
sony
In the Associative Network Model, nodes represent: stored knowledge current learning connections between ideas future knowledge
stored knowledge
A type of selling in which the organization is represented by multiple people, which might include a salesperson, a technical support specialist, or others, is defined as: Group Sales Team Account Group Work Ideation Team Selling
team selling
Automaticity in a branding context means: a consumer's conscious decision to memorize aspects of a brand the evaluation of a brand is brought to either conscious or subconscious thought the automatic reaction of consumers to a brand they have never encountered. initial evaluation of a brand is made automatic and efficient
the evaluation of a brand is brought to either conscious or subconscious thought
Why might you not want to make legibility incredibly high in strategic design? to increase efficiency for consumers to frustrate consumers for more rapid turnover to encourage impulse shopping to require consumers to ask employees for assistance
to encourage impulse shopping
It is more likely for sales to run into ethical issues when using transactional selling. True False
true
It is possible that the parts of a company that are not product related are beginning to be just as important - or even more important - than the products themselves. True False
true
Some people innately have more of a customer orientation than others. True False
true
The Communications Triangle encompasses more than just promotional interactions. • True • False
true
The companies who utilize mobile marketing to its fullest potential are using many platforms in addition to mobile. • True • False
true
The initial investment needed for a franchisee to buy into a franchise must come from the franchisee's own pocket. • True • False
true
How many entities are in a direct channel of distribution? • Two • Three • Four • Four or more
two
Which of these situations would Twitter be best for? • Live reporting • Video sharing • Planning for the future • Researching an article
live reporting
Which of these is not a marketing function? • Manufacturing • Physical distribution and warehousing • Risk-taking • Promotion
manufacturing
What happens in the Close stage of the personal selling process? follow-up on old books at the end of the period obtain commitment from the customer close an unsuccessful account approach all potential customers
obtain commitment from the customer
What is the point of SPIN selling? educate the consumer on the features of your product sell your product to an entire industry position your product or service as the solution to the customer's problems push a sale through at all costs
position your product or service as the solution to the customer's problems
When it comes to compensation in a channel of distribution, _______ plays the most important role. replicability market share power relative importance
power
What is ala carte pricing? • price assembled as you add options • price determined by choice of rigid, set bundles • variable rate for each customer • setting a high price to skim maximum revenues
price assembled as you add options
Which of these is not a way to turn brand equity into dollar value? Word of mouth Licensing Price Competition Brand Extension
price competition
Which of these is not a goal of promotion? • Price cuts • Awareness • Desire • Action
price cuts
What is defined as responsiveness of demand to changes in price? • Price elasticity • Price variation • Demand sensitivity • Cost benefit
price elasticity
What is defined as a group of individuals and organizations that direct the flow of products from producers to customers within the supply chain? • Channel of distribution • Marketing channel • None of these • Both are correct
Both are correct
A benefit of TV broadcast advertising is that: • Both visual and audio mediums are available • Only visual mediums are available • Only audio mediums are available • All broadcasting is seen as a credible news source
Both visual and audio mediums are available
In an interview at an oil company, Anna is asked to name all of the firm's closest competition in the area. As she lists off all the brands that she can think of, Anna realizes that she is performing: Brand recall External cue Firm recognition Idealistic competition
Brand recall
The example of the purchase of the PanAm brand demonstrates how: Brands can have value beyond the book value of the firm Brands are unable to expand past their original industries Promotional advertising can save a business Brands are worthless without assets as collateral
Brands can have value beyond the book value of the firm
Why is it crucial for a company to break through the promotional clutter? • Consumers have a limited ability to register messages • Consumers are constantly, consciously evaluating messages • Promotional clutter can be used to a firm's advantage • Promotional clutter is the end goal of advertising
Consumers have a limited ability to register messages
What is the definition of Advertising? • A form of external promotion with customers, paid for by the seller • A form of internal promotion with customers, paid for by the seller • A form of external promotion with sellers, paid for by the consumer • A form of internal promotion with employees, paid for by the seller
A form of external promotion with customers, paid for by the seller
What are outside sales? a type of sales in which interactions are initiated by the buyer a type of sales in which all interactions are with those outside the industry A type of sales in which interactions are initiated by the seller a type of sales in which all interactions are with brand new consumers
A type of sales in which interactions are initiated by the seller
Which of these is not a reason for the increasing popularity of digital marketing? • Difficult to track effectiveness • Easily targeted • Interactive medium • Cost-effective
Difficult to track effectiveness
Distributor responsibilities always include: • Distribution functions and promotion • Pricing and promotion • Promotion only • None of these
Distribution functions and promotion
The relationship between J.A.M and ExxonMobil is an example of which type of intermediary relationship? • Distributor • Wholesaler • Retailer • Agent/Broker
Distributor
Carefully choosing a brand name that is easily understood and pronounced is best defined as: Accessibility Market catering Conciseness Universality
Accessibility
What is a major difference between agents and brokers? • Agents are long term, brokers are short-term • Agents take full ownership of the product before selling • Brokers are long term, agents are short-term • Brokers take full ownership of the product before selling
Agents are long term, brokers are short-term
What is a significant difference between how Agents/Brokers conduct business when compared to other types of intermediaries? • Agents/brokers never take ownership of the product • Agents/brokers take ownership of the product for less than one year • Agents/brokers charge more per product sold • Agents/brokers work on behalf of the end consumer
Agents/brokers never take ownership of the product
Marketing as a study originally broke off from which academic discipline? • Agricultural Economics • Industrial Engineering • Engineering Technology • Organizational Behavior
Agricultural Economics
A firm needs to move a small number of expensive products very quickly. Which method of transportation should the company use? • Air • Road • Water • Pipeline
Air
Why do firms use SEO? All companies want to have the #1 ranking on Google Only the most competitive companies use SEO SEO is required for firms by ONET All companies want to reduce their web traffic
All companies want to have the #1 ranking on Google
What are the two key words in the definition of the Marketing Environment? • Dynamic; context • Competitors; decisions • Operate; compete • None of these
Dynamic; context
Promotion is ultimately about making: • Effective exchanges between the seller and the customer • Efficient exchanges between suppliers and retailers • Good communication efforts between management and employees • The best sale price possible
Effective exchanges between the seller and the customer
Which step of the Process of Consumption best lines up with the Desire aspect of Goals of Promotion? • Evaluation of alternatives • Reaction • Need recognition • Interest
Evaluation of alternatives
The social media landscape changes __________ and requires ___________ from marketers. • Quickly; flexibility • Quickly; indifference • Slowly; caution • Slowly; spontaneity
Quickly; flexibility
Which of these is not an example of print media advertising? • Radio • Magazines • Directories • Newspapers
Radio
What is defined as a channel intermediary that resells products to consumers? • Retailer • Wholesaler • Distributor • Agent/Broker
Retailer
Which of the following is a "customer" in a Supply Chain? • Retailer • Transportation company • Warehousing unit • Supplier of raw materials
Retailer
What is defined as an organization's appraisal of its internal Strengths and Weaknesses and its external Opportunities and Threats? • SWOT Analysis • Environmental Scanning • Competitor Evaluation • Price Assessment
SWOT analysis
In its simplest form, a Price Promotions is known as a(n): • Sale • Advertisement • Rebate • Gift
Sale
Which of these is not an advantage of sales promotions? • Sales promotions have long-term effects • Balance demand against capacity • Effectiveness measured directly • Reduce risk of initial trial
Sales promotions have long-term effects
What is the definition of retailing? Any form of sale with a price markup Marketing goods and services for resale Selling goods and services to companies to use in running the company Selling goods and services to consumers for their own use
Selling goods and services to consumers for their own use
What is a sales promotion? • Short term external promotion tactic designed to influence immediate purchase • Long term external promotion tactic designed to influence future purchase • A synonym for advertising • Price cuts only
Short term external promotion tactic designed to influence immediate purchase
What is the key aspect of the definition of social media? • The ability it gives users to interact with each other • Social media is online • Content comes in app form • Narrow reach
The ability it gives users to interact with each other
The importance of being Unexpected is best explained by: • The ability of surprising messages to break through clutter • The overall failure of firms to be unexpected • Persistence of humor in company attempts • The addition to clutter that attempts always bring
The ability of surprising messages to break through clutter
What does the External Environment establish? • The background in which business is conducted • The market price of a firm's stock • The competitive environment for an industry • The background for one particular industry
The background in which business is conducted
What makes a marketing channel a vertical marketing system? • The channel is managed by a single channel member • The channel's power is equally split between all members • Power goes to the member that makes the most money • Size of each channel member is roughly equal
The channel is managed by a single channel member
Who owns the marketing channel in corporate VMS? • The company • The retailers • All members share power • Whoever contractually holds power
The company
What does the "brick vs click" conflict refer to? • The decision to sell either in a physical location or online • A firm's decision to sell products or services • The decision of whether to use a direct or indirect channel • None of these
The decision to sell either in a physical location or online
What is the definition of the Marketing Environment? • The dynamic context within which firms operate • The environment of competitors within which firms make decisions • The mass of suppliers and consumers for whom firms compete • The firm-specific marketing budget within which marketers operate
The dynamic context within which firms operate
The exchange between the firm and its employees consists of: • The employees' time and skills; the firm's money • The employees' money; the firm's time and skills • The employees' expertise; the firm's education • None of these
The employees' time and skills; the firm's money
When will a firm's ad show up the most often? • The firm creates different ads for different sizes • The firm only has one size ad • The firm creates a bold, colorful ad • The firm connects with Bing rather than Google
The firm creates different ads for different sizes
What is puffery? • The idea that most ads tell only the best-case scenario • Inflating negative expectations • Exaggerating reports of the number of consumers • Inflation of price during peak business hours
The idea that most ads tell only the best-case scenario
What is Search Engine Optimization (SEO)? The strategy to try and improve the firm's ranking on Google The strategy to try and remove a firm from Google The strategy to ensure only certain markets can find your firm A firm's basic online strategy
The strategy to try and improve the firm's ranking on Google
The Cadbury commercial in the video lecture is an example of how advertisements have the ability to improve a company's reputation. • True • False
True
Which of these is the best strategy for determining the best social media platform to use for marketing? • Try new platforms and content to see what connects • Abandon unsuccessful platforms immediately • Stay consistent with platforms and content • Switch target markets rather than change marketing strategy
Try new platforms and content to see what connects
Which of these is not a key category of digital promotion? • Video • Display • Social media • Affiliate
Video
Which of these is an important characteristic of YouTube? • Video-based search engine • 140-character limit • Business to business marketing • Forward-looking
Video-based search engine
The principle of extremity avoidance suggests that to increase sales of one product: • a company should have both cheaper and more expensive options • a company should price everything at a lower price than the target product • a company should price everything at a higher price than the target product • a company should leave prices ambivalent and focus on quality
a company should have both cheaper and more expensive options
The acronym LAURA helps us to analyze and adjust when: consumers are belligerent with frontline employees employees have provided poor customer service a product or service has exceeded expectations of consumers a product or service has disappointed the consumer
a product or service has disappointed the consumer
Which of these is the best example of Ambient factors lining up with company goals? a restaurant that encourages lingering with loud, harsh music and a cold dining room None of these are good examples a restaurant that encourages lingering with quiet background noise and relaxed music a restaurant that encourages quick turnover with quiet background noise and relaxed music
a restaurant that encourages lingering with quiet background noise and relaxed music
What is the attraction effect? • a target brand appears more attractive when it is compared to inferior brands • a target brand appears more attractive when compared to equally attractive brands • competitor's brands appear more attractive when compared to your product • attractive salespeople will sell more product
a target brand appears more attractive when it is compared to inferior brands
What are inside sales? a type of sales in which inside departments sell to each other a type of sales in which interactions are initiated by the buyer a type of sales in which interactions are initiated by the seller a type of sales in which companies within the same industry sell to each other
a type of sales in which interactions are initiated by the buyer
What is a key account? a very large customer that provides a significant portion of revenues the account a company holds with a minor supplier a small customer that provides an average amount of revenues an account that links the company to other accounts
a very large customer that provides a significant portion of revenues
The "company" in the Communications Triangle represents the: • Formal company management • Frontline employees • Customers • Company reputation
Formal company management
What is defined as an arrangement in which a supplier grants a dealer the right to sell products in exchange for some type of consideration? • Franchise • Retailing • Wholesaling • Distribution
Franchise
Which of these is the best example of Contractual VMS? • Franchising • Retailing • Ownership • Agent/Broker
Franchising
In a franchising arrangement, the supplier is the _______ and the dealer is the _______. • Franchisor; franchisee • Franchisee; franchisor
Franchisor; franchisee
What is the best way to have excellent off-site SEO? • Have high quality content • Have an easily navigated webpage • Keep content the same as long as possible • Use repetitive, homogenous links
Have high quality content
What is determined by the default bid aspect of setting up a pay-per-click ad? • How much the firm pays per click • The firm's budget per week • Keyword popularity • Effectiveness of landing page
How much the firm pays per click
When determining which social media platform to use for marketing, what should marketing professionals consider? • How the platform fits with your product • What is "cool" or trendy • Pay-per-click advertisements • Which platforms are most convenient for the firm
How the platform fits with your product
When Mariah needs money, she goes to an ATM instead of driving to her bank. When Mariah utilizes this ATM that represents her home bank, what kind of interaction has taken place? Machine Summons Automated Service Delivery Traditional Interactions Human customer, Machine service provider
Human customer, machine service provider
See's Candy Store is known for handing out free samples of their chocolate. What is the main hope of See's when utilizing this strategy? • Immediate purchase • Later purchase • Increase competitive ability • Run an advertisement
Immediate purchase
In most circumstances, higher levels of customer orientation lead to all of the following except: Organizational commitment Job turnover Organizational citizenship Job satisfaction
Job turnover
Air BnB's experience, where one part of the company began to demand expansion, required the company to be concerned with which guideline of choosing a brand name? Euphony Sensibility Longevity Predictabiilty
Longevity
According to the article, many supermarkets price bananas as a(n) __________ because of their low cost and ability to bring people into stores. • Loss leader • Credence good • Market standard • None of these
Loss leader
What is defined as setting a popular item at an extremely low price to attract people to the store? • Loss leader • Gimmicks • Low-cost strategy • Mass discounting
Loss leader
Which of these is the best example of brand fit? Proctor and Gamble's broad reach Lyft's name and logo Kodak's distinctive name Xerox's accessibility
Lyft's name and logo
Why has readership of most print media declined in recent years? • Many readers obtain information online • Literacy has decreased • All magazines have gone out of business • Magazines move to print too quickly
Many readers obtain information online
What is the main difference between the equations for margin and mark-up? • Margin is (Price - Cost)/Price and Mark-up is (Price - Cost)/Cost • Margin is (Price - Cost)/Cost and Mark-up is (Price - Cost)/Price • There is no difference, they are synonyms • Margin is (Price - Competition)/Price and Mark-up is Price - Competition
Margin is (Price - Cost)/Price and Mark-up is (Price - Cost)/Cost
In the Transactional Model of Communication, who fulfills the role of the Sender? • Marketer • Consumer • Market forecast • Retailers
Marketer
In advertising, a marketing professional should know both her _______ and her _______. • Message; audience • Competitors; budget • Stock prices; audience • Message; retailers
Message; audience
Which of the following marketing functions are not taken on by the franchisee? • Physical distribution • Risk taking • Financing • Promotion
Physical distribution
Can the order of the AIDA model be changed? Why or why not? • No, each step must be achieved before moving to the next • Yes, each goal is individual and separate • No, consumer reactions must drive the order • Yes, changing the order keeps competitors on edge
No, each step must be achieved before moving to the next
How is power determined in administered VMS? • One player in the channel has enough power to take control • Through contractual relationships • Through outright financial ownership • Power is distributed evenly
One player in the channel has enough power to take control
Which of these is not an example of out-of-home advertising? • Online ad videos • Billboards • Signage • Car wraps
Online ad videos
What is a main difference between online display advertising and pay-per-click? • Online display is visual; Pay-per-click is text • Online display is text; Pay-per-click is visual • Online display is audio; Pay-per-click is tangible • Online display is effective; Pay-per-click is inconclusive
Online display is visual; Pay-per-click is text
What is the number one way to market to mobile users? • Optimize webpage views through mobile sites • Link mobile users to the standard site • Focus on email-based methods • Create several versions of an app
Optimize webpage views through mobile sites
What is the supply chain? • Organizations and activities involved with the flow of products from raw materials to the customer • Promotions and offers involved with the flow of activities from raw materials to the customer • Products and services involved with the flow of cash from the consumer to the firm • None of the above
Organizations and activities involved with the flow of products from raw materials to the customer
Which of these is not a form of a sharing economy? P2B B+P B2B P2P
P2B
What is determined through off-site SEO? • Popularity • Webpage traffic • Relevancy • Overall ranking
Popularity
Black Friday is best described as an example of: • Price Promotion • Public Relations Strategy • Advertising strategy • Competitive advantage
Price Promotion
When does initial contact with the potential consumer occur? preapproach presentation introduction approach
approach
With the expansion of globalization, which guideline of choosing a brand name should become a greater concern? Universality Freelancing Appropriateness Magnetism
appropriateness
Which of these does not happen in a "dumb industry"? • barriers to entry are increased • companies fight with price • customers become more price sensitive • barriers to entry are lowered
barriers to entry are increased
The added value delivered by the brand over the functional benefits or book value is called: Brand Recognition Brand Interest Brand Equity Brand Evaluation
brand equity
An agreement whereby a company permits another organization to use its brand on other products for a fee is defined as: Joint venture Brand licensing Franchising Brand Addition
brand licensing
A way of visually presenting where your brand is in consumers' minds is called a: brand map brand recognition brand association brand attribute
brand map
What are the two parts that make up a brand? Brand Label and Brand Price Brand Product and Brand Name Brand Price and Brand Issue Brand Name and Brand Mark
brand name and brand mark
What is the definition of a private-label brand? Brand of high-end, "privatized" companies Brand name that has achieved the status of generic trademark Brands of privately owned companies Brand name owned by a reseller
brand name owned by a reseller
Assume that Netflix has introduced a new bundle service for their streaming services. Bundle 1 includes a base price of $9 to cover 25 hours of streaming for the month and variable price of $0.10 for every 30 minutes over that 25 hours. Bundle 2 includes no base price, but a variable price of $0.25 for every 30 minutes of streaming per month. When a consumer attempts to decide which bundle to use, what is he or she determining? • Breakeven point • V alue of the brand • Effectiveness of bundling • Price elasticity
breakeven point
Which of the following media categories commands the biggest slice of advertising dollars today? • Broadcasting • Out-of-home • Print • Direct mail
broadcasting
The Political/Legal Environment, when compared to the governmental agencies of the Immediate Environment, is more: • Broadly focused • Specific • Industry-specific • None of these
broadly focused
What is defined as an intermediary that brings buyers and sellers together temporarily? • Broker • Distributor • Producer • Agent
broker
Of the sharing economy models, which is the most similar to traditional business models? Business to Business Peer to Peer Business to Person Business + Person
business to person
Which of these is not part of the Three C's Model for Price Setting? • Capitalization • Costs • Consumer assessment • Competitors' price
capitalization
Which of these does not happen in a "smart industry"? • companies fight with price only • more complex pricing • greater subtlety of pricing options • greater use of techniques from other fields
companies fight with price only
In the 2000s, Microsoft came out with the first portable music player - the Zune. When Apple came out with the iPod, consumers viewed it as an improved product when compared to the Zune. From Microsoft's perspective, which actor in the Immediate Environment was most responsible for the change in their sales? • Competitors • Shareholders • Employees • Intermediaries
competitors
If Procter & Gamble suddenly broke from its current strategy of individual branding, which guideline of choosing a brand name would they have broken? Institutional Branding Consistency Protectability Appropriateness
consistency
A brand map determines brand associations from the perspective of the: consumer competitor board of directors management
consumer
How does assorting (in retail) add value? consumers want more choices producers must increase product lines to meet assortment needs retailers must expand physical locations to meet needs consumers want fewer, more streamlined options
consumers want more choices
The goal of "remind and reinforce" applies to advertisements aimed at: • current customers • future customers • any customers
current customers
The "value created" of a product or service is determined from the perspective of the: • customer • employer • competition • stockholders
customer
The degree to which an individual possesses an enduring belief in the importance of customer satisfaction is defined as: customer orientation business orientation customer service good management
customer orientation
What happens in the Presentation stage of the personal selling process? ask for financial commitment present customer service evaluations determine prospect needs and present benefits; handle objections establish initial contact
determine prospect needs and present benefits; handle objections
Most services are delivered via which kind of channel? • Direct channel • Indirect channel
direct channel
Which of these is not a goal of cultivating retail atmospherics? storefront and merchandising display drawing in every person as a potential consumer interior and exterior positioning strategy and image
drawing in every person as a potential consumer
A nonprofit that provides education for underserved communities is looking to run a new promotion. The company is deciding to either provide several statistics or a single, personal story from a student relying on funds. Out of the following, which part of the SUCCESS model would the personal story best encompass? • Emotion • Simplicity • Credibility • Unexpected
emotion
Which aspect of the SUCCESS model is more common in the United States than in other countries? • Emotion • Simple • Credible • Concrete
emotion
Integris Hospital in Oklahoma City has forecasted a growing population in the surrounding area, but is also facing a significant nursing shortage. Which aspect of the Marketing Environment is Integris most likely to be focused on? • Employees • Customers • Shareholders • Intermediaries
employees
When choosing a brand name, what is the purpose of magnetism? Confuse competitors Attract consumers to then purchase "opposite" products Engage the consumer Create flashy advertisements
engage the consumer
What is the definition of euphony? focusing the brand on consumer likes and dislikes publishing pronunciation details for the brand name naming the company to reflect the highest-grossing segment ensuring the brand name sounds good
ensuring the brand name sounds good
What is defined as the process of systematically gathering and interpreting relevant data to identify external opportunities and threats? • Environmental Scanning • Market analysis • SWOT analysis • Industry appraisal
environmental scanning
In the acronym LAURA, the "U" stands for understand. What should a marketing professional understand? how the customer will discuss your product to others whose fault the problem is exactly what happened to cause the problem how the product should be used
exactly what happened to cause the problem
Addi is driving from Stillwater to Dallas, and sees a McDonald's sign with golden arches (but no words). She automatically begins to think of her hunger. What kind of cue activated this thought? Coercive cue Internal cue External cue Detrimental cue
external cue
Environmental scanning is mainly concerned with looking for: • External opportunities and threats • Internal opportunities and threats • External strengths and weaknesses • Internal strengths and weaknesses
external opportunities and threats
If a company is using Reference pricing in an advertisement and lists their competitor's price for comparison inside that ad, what is this competitor's price called? • External reference • Internal reference • Market standard • Sale marketing
external reference
Which social media platform has the widest customer base? • Facebook • Twitter • LinkedIn • YouTube
A "brand" is confined to the physical name or logo associated with the firm. True False
false
All personal selling is required to take place in face-to-face settings. True False
false
Changing demographics do not happen quickly enough to affect the way companies do business. • True • False
false
Company employees are only able to act (the last "A" in the acronym LAURA) if the problem was caused by an issue on the firm's side of the transaction. True False
false
Environmental scanning must be done as formally as possible to get reliable information. • True • False
false
Exchanges can be made between the firm and both the Immediate and External Environment • True • False
false
Face-to-face communication is necessary for true "frontline" transactions. True False
false
Private label brands (such as Great Value, a Walmart brand) are never successful when compared to national brands. True False
false
Retail atmospherics are applicable for physical stores only, not online retail presences. True False
false
Service users have to be human consumers by default. True False
false
Small changes in price do not have a very large impact on bottom line profits. • True • False
false
Standard webpage views are optimal for mobile access. • True • False
false
Technology has had little impact on organizational frontlines in most industries. True False
false
The External Environment is a stable playing field for every fiscal year. • True • False
false
The immediate goal of all advertising is to make exchange happen. • True • False
false
The landing page is the same as the web home page. • True • False
false
The message put in place by the Sender is always identical to the message received by the Receiver. • True • False
false
The most successful salespeople focus on the beginning aspects of the SPIN method (e.g. Situational and Problem questions). True False
false
What has been a problem of implementing Peer to Peer sharing? determining products determining companies who will invest finding platforms where it is legal and available finding platforms where consumers express demand
finding platforms where it is legal and available
Pinterest is the only social media platform that is ________-looking. • Forward • Backward • Present • Outward
forward
Which of these is not a branding strategy? Institutional Branding Franchise Branding Individual Branding Sub-branding
franchise branding
It is often most important for which kind of employee to have a strong customer orientation? Front line Strategic Managing Behind-the-Scenes
front line
Which of these is not a characteristic of a good landing page? • Full company information • Clear offer • Quality content offer • Simple form
full company information
What happens in the Approach stage of the personal selling process? lay out the plan for your solution gather information and determine how best to approach close the deal as soon as possible gain attention and interest; arrange a meeting
gain attention and interest; arrange a meeting
In the SPIN model, what is the purpose of Need-Payoff questions? transition into transactional selling get the consumer to project how our product would help their problems focus on the updates and innovations of the product bring the conversation to a high-pressure moment
get the consumer to project how our product would help their problems
A change in price in an elastic market is likely to show _______ change in demand when compared to a similar change in an inelastic market. • Greater • Smaller • V ariable • Equal
greater
Which of these is not a benefit of institutional branding? lower promotional costs enhancement of positive spillover marketing power in the marketplace greater individualized identity for new products
greater individualized identity for new products
Employees with high customer orientation will thrive in what kind of job? Low customer interaction These employees can go to any job These employees always choose their own job High customer interaction
high customer interaction
What is defined as groups and organizations that can exert a direct influence on the firm's ability to accomplish its goals? • Immediate Environment • External Environment • Competitors • Regulators
immediate environment
When employees with high customer orientation are embedded in an organization that emphasizes (and benefits from) customer satisfaction, profits are likely to: stay the same decrease exponentially decrease increase
increase
Which of these is not a reason that people shop? increase in social status thrill of the chase fantasy social experiences
increase in social status
Which of these is not a benefit of sub-branding? new brand asset development, similar to individual brand marketing power and promotional advantages of the institutional brand market flexibility increased market share
increased market share
Unilever houses many brands, such as SlimFast nutrition drinks, Dove soap, and Skippy peanut butter, that all sell different products. What branding strategy is used here? Institutional branding Umbrella branding Individual branding Sub-branding
individual branding
Which branding strategy makes it easier for a company's reputation to influence products? Institutional Universal branding Individual Sub-branding
institutional
Marketing functions are often performed by ________ in the marketing channel. • Intermediaries • Producers • Consumers • All players
intermediaries
Advertising is best thought of as a(n): • Investment • Immediate payoff • Dividend • ROI
investment
Are companies using prestige pricing more or less likely to use the odd/even pricing strategy than standard retail companies? • less • more • equally likely • all companies use this strategy at all times
less
Marketers tend to spend _________ on out-of-home advertisements compared to other methods. • Less • More • The same • Inconclusive amounts
less
What is Black Friday an example of? • Loss leader pricing • Prestige pricing • Flat-rate pricing • Price skimming
loss leader pricing
Book value of assets + Brand equity = Price of brand Market value of brand Consumer share of brand Market share in industry
market value of brand
The brand resides in the consumer's: peer group desired associations memory conversations
memory
What is the difference between merchant and agent wholesalers? agents produce the product; merchants sell it to consumers merchants take ownership to a product; agents act as intermediaries merchants produce the product; agents sell it to consumers agents take ownership to a product; merchants act as intermediaries
merchants take ownership to a product; agents act as intermediaries
Brand associations within a brand map can also have _______ attached to them. price mood and emotion affiliation organization
mood and emotion
Experts say that off-site is ________ important when compared to on-site SEO. • more • less • equally
more
In 2011, Japan was hit with significant natural disasters. Japan is home to many of the supplier companies on which car manufacturers depend. From these manufacturers' perspective, which aspect of the External Environment affected them the most? • Natural Environment • Economic Environment • Political/Legal Environment • Social Environment
natural environment
Who owns the channel in Administered VMS? • No one • The company • Whoever contractually has power • None of these
no one
There are __________ intermediaries in most channels of distribution. • One or more • Exactly two • Zero • Five or more
one or more
Google's display network is huge, with approximately ___________ monthly impressions (as of fall 2017). • One trillion • 10 million • A hundred thousand • 6 billion
one trillion
Which of these is not a listed method of mobile marketing? • Online news articles • Websites • Apps • Mobile display ads
online news articles
What is defined as the means of getting the product, service, or idea to the customer? • Place • Product • Price • Promotion
place
What is defined as the general state of politics, including ideology and stability, plus regulatory systems on all levels? • Political/Legal Environment • Natural Environment • Technological Environment • Social Environment
political/legal environment
If Oreo cookies come out with a new flavor of s'mores Oreo cookies, what are they using in order to turn brand equity into dollars? Word of mouth Product purchase Licensing Promotional Advantage
promotional advantage
Which of these is not a step in the personal selling process? presentation prospecting close approach
prospecting
Brand equity starts as a ________ concept, but ends up having a real ________ effect. inconclusive; mediated monetary; psychological psychological; monetary potential; realized
psychological; monetary
Which of these is not a potential benefit of increasing a sharing economy? reduce environmental and waste impact return economic benefits realize potential market gains reverse effects of eroding social trust
realize potential market gains
Which of these is not a part of the acronym LAURA? Act Listen Understand Recognize
recognize
Which of these is not a party that shares and exchanges value in a sharing economy? Platform Recommender Owner Seeker
recommender
The primary value of a brand for consumers is the: reduction of perceived risk ability to compare prices definition of corporate social responsibility association with target groups
reduction of perceived risk
A form of personal selling that involves securing, developing, and maintaining long-term relationships with profitable customers is defined as: business to business selling personality-based marketing transactional selling relationship selling
relationship selling
An employee with a high customer orientation is likely to pursue which kind of selling? transactional selling efficient selling technology-based selling relationship selling
relationship selling
Targeting based on "where people have been" is known as: • Remarketing • Forecasting • Market segmenting • Coupon rate
remarketing
What are the two important outcomes in a marketing interaction? repeat business and low prices profitability and efficiency competitive advantage and positive word of mouth repeat business and positive word of mouth
repeat business and positive word of mouth
What is the difference between retailing and wholesaling? retailers sell to individuals for end use; wholesalers sell to companies for resale/company use wholesalers sell to individuals for end use; retailers sell to companies for resale/company use retailers are unable to mark up prices; wholesalers are free to do so wholesalers are unable to mark up prices; retailers are free to do so
retailers sell to individuals for end use; wholesalers sell to companies for resale/company use
What happens in the Prospecting stage of the personal selling process? search for and screen potential customers approach all potential customers prospect the best potential product for a potential customer research the market
search for and screen potential customers
The brand name must provide _________ meaning for the product. institutional tertiary secondary primary
secondary
A platform that receives renting fees receives those fees from the _______ and shares those fees with the _______. recommender; seeker owner; seeker platform; owner seeker; owner
seeker; owner
Brands marketed as more luxury options (such as Lexus) are likely to utilize ______ distribution intensity. intensive strategically placed broad-coverage selective
selective
Why is breaking bulk important? sellers want to produce in bulk, consumers want to buy in small amounts breaking bulk is inconvenient for the consumer, leading to impulse buys sellers dislike producing in bulk, but consumers want large amounts breaking bulk is unnecessary
sellers want to produce in bulk, consumers want to buy in small amounts
Which of these is not a part of making a pay-per-click ad? • set the highest bid available • make the ad relevant to the keywords searched • match the ad message, Unique Value Proposition, and Call to Action • Make it obvious what you want the user to do upon seeing the ad
set the highest bid available
What is price skimming? • setting a high price for a new product to skim maximum revenues • setting a low price to penetrate the market • reintroducing an old product at a different price • offering customization at a price premium
setting a high price for a new product to skim maximum revenues
What is prestige pricing? • setting a high price so quality or status-conscious consumers will be attracted to the product • setting a low price so quality or status-conscious consumers will be attracted to the product • designing a product to mimic luxury items • pricing to target low-budget shoppers
setting a high price so quality or status-conscious consumers will be attracted to the product
The old CEO of Uber was fired by the board of directors of his company, and Uber therefore had a significant change in leadership of the firm. Which aspect of the Immediate Environment created this change? • Shareholders • Intermediaries • Customers • Suppliers
shareholders
When the company first started, Southwest's message in advertisements and managerial actions clearly communicated its commitment to low prices. What is this the best example of? • Simplicity • Unexpectedness • Concreteness • Emotion
simplicity
What is flat-rate pricing? • single rate per time period • different rate for each customer • price set to fluctuate with treasury bonds • setting a low rate to penetrate the market
single rate per time period
Mostly, business is made up of: smaller, more frequent transactions competitions with other firms huge, multimillion dollar transactions customer service orientations
smaller, more frequent transactions
What is defined as the demographic characteristics, culture, and values of a population? • Social Environment • External Environment • Demographic Constraints • Popular Characteristics
social environment
Advertisements should be run with _______ objectives in mind. Correct Answer • Specific and measurable • Ambiguous and attainable • Obvious and committed • Adjustable and avoidable
specific and measurable
Why is distinctiveness important? appropriate for all major languages stand out from competitors easy for consumers to pronounce and remember clearly identifies the range of the product
stand out from competitors
Which of these is not a benefit of individual branding? development of additional brand assets strong connections to established brands for new brands to lean on protection against negative spillover effects strategic degrees of freedom
strong connections to established brands
In 2011, Japan was hit with significant natural disasters. Japan is home to many of the companies on which car manufacturers depend for parts. From these manufacturers' perspective, which actor in the Immediate Environment affected them the most? • Suppliers • Natural disaster • Shareholders • Employees
suppliers
Which of these is not a personal value that is prevalent in the United States today? • Teamwork • Environmental sustainability • Individualism • Self-help
teamwork
What is defined as the general state of learning and innovation? • Technological environment • Economic Environment • Political/Legal Environment • Social Environment
technological environment
Which of these is not an example of the Immediate Environment? • Technological Environment • Suppliers • Competitors • Customers
technological environment
What jobs are the most likely to be automated? those with lots of critical thinking those with high-impact decision making those with a great deal of variety those with a great deal of routine
those with a great deal of routine
Rachel goes to Walmart to buy groceries, and checks out with a cashier. When Rachel hands her cash to the Walmart employee, what kind of interaction has taken place? Human customer, Machine service provider Machine Summons Traditional Interactions Automated Service Delivery
traditional interactions
Which of these types of interactions is the only one where human interaction is absolutely necessary? Machine Service Provider Traditional Interactions Automated Service Delivery Machine Summons
traditional interactions
A form of personal selling that focuses on making an immediate sale with little or no concern for customer satisfaction or relationship development is defined as: Innovative selling Telemarketing Relationship selling Transactional selling
transactional selling
Consumer values are moving towards environmental sustainability, and this sentiment has the ability to change how firms both produce products and dispose of waste. • True • False
true
Extremism in politics has the ability to affect businesses in that country. • True • False
true
Mark-up can be greater than 100%. • True • False
true
People are becoming more interested in who produces a product and how they produce it (ex. labor conditions and animal testing). True False
true
Public Relations are generally believed more so than advertisements. • True • False
true
Relationship selling tends to be more long-term than is transactional selling. True False
true
SPIN selling is about asking questions of potential customers. True False
true
The relationship and responsibilities of the franchisee are very clearly spelled out by the franchisor. • True • False
true
Value-based pricing will always be more profitable than cost-based pricing. • True • False
true
When choosing keywords, firms should look at which words have the highest monthly traffic. • True • False
true
Within the supply chain, marketers are specifically concerned with the marketing channel. • True • False
true
What is the largest inhibitor to the growth of sharing economies? quality concerns advertising trust initial cos
trust
There is a trend towards _______ elements in social media • Visual • Audio • Tangible • Multimedia
visual
The "magic lesson" teaches us how to turn what into dollars? what consumers know about the brand how competitors adjust in response to the brand negative reputation of the brand or firm the price of bestselling products
what consumers know about the brand
What is the definition of Price? • what is exchanged for the product, service, or idea • what is provided as a good or service • the treasury-backed ultimate value of a product • the combination of values for all raw values
what is exchanged for the product, service, or idea
The real value of a brand lies in: What the consumer thinks about the firm when the brand is seen The visual appeal of the logo The cohesiveness of the name and logo How often a consumer sees the brand displayed
what the consumer thinks about the firm when the brand is seen
When does the temptation to make unethical decisions increase for a salesforce? when an unreasonable amount of pressure is placed on the salesforce when the force is paid by salary only at the end of a quarter, no matter the pay strategy if a competitor makes their profits known
when an unreasonable amount of pressure is placed on the salesforce
What is the breakeven point? • where profits just cover costs • where fixed costs only are covered • where variable costs only are covered • the most desirable point for profits
where profits just cover costs
What is the key difference between cost-based pricing and value-based pricing? • where you start the process • how you value each layer of business • weight placed on customer service • focus on quantity vs. focus on quality
where you start the process
When does activation occur? With either external or internal cues With only internal cues With social media-based marketing With only external cues
with either external or internal cues
A grocer has purchased a truckload of frozen dinners for $3 each. The grocer operates on a margin of 30% for frozen food items. What is the retail price to the consumer? • $4.29 • $3.35 • $2.60 • $5.78
$4.29
Many firms utilize a "brick and click" approach. Which of the following best describes this approach? • A mixture of physical and online selling • Online selling only • Physical selling only • Online selling is unsuccessful without a physical presence
A mixture of physical and online selling
What is personal selling designed to influence? • A purchase decision • A communication incentive • A competitor response • A market's elasticity
A purchase decision
What is a landing page? • A special page specifically for people who click on your ad • The web homepage • A page devoted to a certain product • The sales section
A special page specifically for people who click on your ad
Which of these is not an Intermediary in the Immediate Environment? • Creditors • Wholesalers • Retailers • All of these are Intermediaries
All of these are Intermediaries
Which of these is not a common intermediary for products? • Wholesaler • Distributer • Agent/broker • All of these are common intermediaries for products
All of these are common intermediaries for products
What is a key feature of decoy products that consumers are intended to use as reference points? • should share similar characteristics to the target product • should be less attractive than the target product • can be priced higher than the target product to make target more accessible • All of these are correct
All of these are correct
Which of these is not a demographic change faced by companies in the United States? • People are living longer • Ethnic and racial diversity is increasing • The population is growing • All of these are current US demographic changes
All of these are current US demographic changes
Which of these is not a typical way of transporting physical products? • Trucks • Barge • Train • All of these are typical methods of transport
All of these are typical methods of transport
Posts that have a(n) __________ element tend to do well on Instagram • Artistic • Intrinsic • Grayscale • Audio
Artistic
Which of these is a goal of SEO? • Be a top result of as often as possible • Be as selective as possible with viewership • Include the maximum possible number of advertisements • Focus only on on-site SEO
Be a top result of as often as possible
What is defined as the marketing of two or more different products in a single package price? • Bundle pricing • Target selling • Group discount • Multiple unit pricing
Bundle pricing
Air BnB uses a model where the business integrates people who own homes into the market where consumers express demand. This is most accurately described as which type of sharing economy? Business to Person Person to Business Business + Person Peer to Peer sharing
Business + Person
Distributors are most often associated with: • Business markets or industrial products • Agricultural products • A wide span of products • A small geographic market
Business markets or industrial products
Why is it acceptable for firms to focus greater efforts on employees or customers, or even change their focus over time? • Business strategy is about the entire set of exchanges of a firm • A firm's main focus should always be on customers only • Every CEO brings a new focus for the company • None of these
Business strategy is about the entire set of exchanges of a firm
What should the Unique Value Proposition be matched with? • Call to Action • Average Pay-per-click • Google ranking • Keyword traffic
Call to Action
Which of these is not one of the Three C's in communication? • Committed • Clear • Concise • Consistent
Committed
Franchising is an example of which type of vertical marketing system? • Contractual VMS • Administered VMS • Corporate VMS • Supplier VMS
Contractual VMS
When entering into a franchising contract, both the franchiser and the franchisee give up some level of: • Control • Advertising • Logistics • Funding
Control
What is an advantage to corporate VMS? • Control of all aspects of the system • Low taxes • Large trust in all channel members • Low cost
Control of all aspects of the system
What is the goal of a sales promotion? • Convincing consumers to "act now" • Increase likelihood of later purchase • Increase market share • Clear inventory
Convincing consumers to "act now"
What is the hallmark of a contractual VMS? • Coordination among channel members is achieved through contractual relationships • No litigation determines power • The company owns the channel • Financial obligations determine control
Coordination among channel members is achieved through contractual relationships
A security company brings in an advertising strategy that details the company's history with defending a national bank. Which part of the SUCCESS model does this best describe? • Credibility • Simplicity • Unexpectedness • Emotion
Credibility
What is defined as powerful societal forces that influence all entities in the immediate environment? • External Environment • Internal Environment • Backstage Players • Logistical Forces
External environment
What is defined as the communications between the company and its customers? • External promotion • Internal promotion • Interactive communication • Active advertising
External promotion
What is defined as the idea that people would try to avoid choosing extreme options and rather choose the "safe option" and take a middle path? • Extremity avoidance • Psychological pricing • Attraction effect • Extremity attraction
Extremity avoidance
Franchise fees and royalties are constant across industries. • True • False
False
Google almost never provides pay-per-click advertisements as search results. • True • False
False
Print ads are no longer effective in today's world. • True • False
False
Repetition of primary keywords is the only requirement for moving a firm up on Google's search engine rankings. • True • False
False
Compared to digital or broadcast advertising, print advertisements tend to lack: • Flexibility • Clarity • Ingenuity • Words
Flexibility
What is the definition of Public Relations? • Form of external promotion through channels perceived to be noncommercial • Form of internal promotion through any and all channels • Form of external price promotion • The least effective commercial strategy
Form of external promotion through channels perceived to be noncommercial
Who is interacting in Interactive promotions? • Frontline employees and customers • Top management and employees • Employees and top competitors • Background employees and technology
Frontline employees and customers
What is the main difference between advertisements and sales promotions? • Goal: of long-term or immediate payoff • Methods: using frontline employees or management • Methods: print or technology-based • Goal: of increasing sales or decreasing necessary employees
Goal: of long-term or immediate payoff
The Environmental Protection Agency was formed in 1970 and began to monitor the environmental impact of United States companies, forcing many to change some of their practices. Which exchange in the Immediate Environment is this an example of? • Governmental bodies and the firm • Governmental bodies and suppliers • Governmental bodies and political/legal • Intermediaries and the firm
Governmental bodies and the firm
The channel of distribution for bananas can best be described as a(n) • Direct channel • Indirect channel
Indirect channel
The Marketing Channel is made up of: • Individuals and organizations • Competitors and suppliers • Retailers and producers • Buyers and sellers
Individuals and organizations
What does "noncommercial" mean in regards to Public Relations? • Information not paid for by the company • Advertising paid for by the company • Any information not distributed through television • Editorial newspaper articles
Information not paid for by the company
Companies on social media should remember to: • Interact with followers • Post and disappear • Provide sales pitches only • Reply angrily to frustrated consumers
Interact with followers
What is defined as frontline interactions in the Communications Triangle? • Interactive Communication • Internal Communication • External Communication • Realistic Communication
Interactive Communication
In the Communications Triangle model, which type of interaction is modeled by a double-headed arrow? • Interactive promotion • External communication • Intrinsic value • Internal promotion
Interactive promotion
What is the first step in strategic pricing? • Knowing how your industry behaves • Knowing the price of your competitors • Financing large projects • Increasing the marketing budget
Knowing how your industry behaves
Barge transportation is good for moving _________ at what type of speed? Large amounts of product at slow speeds • Small amounts of product at high speeds • Large amounts of product at high speeds • Small amounts of product at slow speeds
Large amounts of product at slow speeds
Which of these marketing methods is the most unique to mobile marketing? • Location-based • Pay-per-click • Display ads • Social media
Location-based
Why are wholesalers, distributors, etc. not described as common intermediaries for services? • Most services are delivered directly • Services do not follow a marketing channel • Service intermediaries are retailers and agents • All intermediaries are used equally for delivery of services
Most services are delivered directly
What is defined as the use of a variety of marketing channels to ensure maximum distribution? • Multi-channel distribution • Intermediary distribution • Market analysis • Consumer-based decisions
Multi-channel distribution
What is defined as a strategy to encourage people to buy more by offering price breaks for purchasing more than one unit of a particular product? • Multiple unit pricing • Prestige pricing • Bulk discount • Loss leader
Multiple unit pricing
Companies who are recruiting new employees often ask to come to college campuses and speak in classes. What type of public relations tool is this most like? • Speaking engagements • Press kits/releases • Philanthropy • Event sponsorship
Speaking engagements
Which aspect of the External Environment is associated with raw materials that go into the production of products? • Natural Environment • Economic Environment • Political/Legal Environment • Social Environment
Natural Environment
Companies must be _________ when scanning the environment for opportunities and threats. • Proactive • Reactive • Detailed • Formal
Proactive
According to the article, bananas must be monitored for what throughout the supply chain process? • Ripeness • Size • Taste • Price
Ripeness
The advertising examples given in the lecture videos best demonstrate which aspects of the SUCCESs model for cutting through clutter? • Simple and Unexpected • Credible and Promotional • Emotion and Concrete • Simple and Concrete
Simple and Unexpected
The competitive retail price for a stereo system is $300. Retail stores normally have a margin of 30% for such items. Wholesalers normally have a margin of 20% for such items. The manufacturer's price is unknown. What steps should be taken to determine the manufacturer's highest price? • Solve for Retail price, then Wholesale price, then Manufacturer price • Solve for Wholesale price, then Manufacturer price, then Retail price • Solve for Retail price, then Manufacturer price, then Wholesale price • Solve for Manufacturer price, then Wholesale price, then Retail price
Solve for Retail price, then Wholesale price, then Manufacturer price
What is the best example of a Frequent User Program? • Southwest credit card • Mail-in rebate • Black Friday sale • Buy-one Get-one Free
Southwest credit card
Which of these is not a type of vertical marketing system? • Supplier VMS • Corporate VMS • Administered VMS • Contractual VMS
Supplier VMS
A firm should focus on creating a set of __________, ____________ exchanges with the environment • Sustainable; favorable • Competitive; analytical • Marketing; inexpensive • Immediate; external
Sustainable; favorable
A company is looking to implement its new advertisement that is targeted specifically towards consumers 65 and older. Which communication channel would most effectively reach the intended audience? • TV commercials • Instagram • Twitter • Snapchat
TV commercials
What is the definition of culture? • The set of values, ideas and attitudes that are shared among a group of people • The personal values held by an individual • The laws and regulations set by the government of a country • None of these
The set of values, ideas and attitudes that are shared among a group of people
Seeing a brand can cause consumers to automatically think of the attributes of the firm. True False
True
Why do retailers exist? People always buy more from retailers than they do directly from producers They add value by adjusting discrepancies between the needs of consumers and sellers They do not add value but do add convenience They add value by increasing discrepancies between the needs of consumers and sellers
They add value by adjusting discrepancies between the needs of consumers and sellers
Why would a firm consider using multi-channel distribution? • To reach as many consumers as possible • To target consumers more specifically • To advertise widely • To increase spending to match competitors
To reach as many consumers as possible
It is easier to determine the effectiveness of sales promotions than advertisements. • True • False
True
In rebate programs, what are many marketing professionals banking on? • Unwillingness of consumers to mail in the rebate • Ease of claiming the rebate • Cost of original product • Loyalty from existing customers
Unwillingness of consumers to mail in the rebate
Companies using social media marketing should remember to provide ________ on social media that relate(s) to their brand. • Value • Sales pitches • Knock-knock jokes • Images
Value
What is Spreading Activation? When consumers spread brand knowledge through conversation When nodes are energized and brought into working memory An external cue The creation of new nodes
When nodes are energized and brought into working memory
What is defined as a channel intermediary who purchases larger quantities of consumer products and breaks them into smaller quantities to resell to retailers? • Wholesalers • Level 1 Retailers • Distributors • Agents
Wholesalers
With social media marketing, who are you representing? • Your brand • Yourself • The media platform • Your followers
Your brand
Why is simplicity important for breaking through promotional clutter? • Your message is the clearest when it is simple • Mail-in rebate • Complex messages draw consumers in • Messages seen as too simple are ignored by consumers
Your message is the clearest when it is simple
Which of these is not a goal covered by Public Relations Advertising? • Action • Awareness • Interest • Desire
action
What is defined as an intermediary that represents either a buyer or a seller on a long-term basis? • Agent • Wholesaler • Broker • Distributor
agent
In the SPIN model, what is the purpose of situation questions? gather data and relevant information acclimate a new salesperson to a new consumer breaking the ice and establishing a relationship all of these
all of these
What happens in the Follow-Up stage of the personal selling process? revisit existing customers all of these ensure customer satisfaction maintain relationships
all of these
What is generally credited as the reason for Southwest Airlines' success over time? • Their focus on good relationships with employees • The lack of intermediaries in purchasing tickets • Low prices of tickets • All of these
all of these
What is the main advantage of using a sub-branding strategy? ability to avoid the disadvantages of individual and institutional branding general flexibility ability to take on the advantages of individual and institutional branding all of these
all of these
Pacemakers that communicate with healthcare computers and can be re-calibrated by those computers are an example of what kind of interactions? Traditional Interactions Machine Summons Automated Service Delivery Human customer, Machine service provider
automated service delivery
Frontline Interfaces can be: people and/or equipment company agents only equipment only representatives and/or consultants
people and/or equipment
Why is telling stories such an impactful way to advertise? Correct Answer • People are drawn into stories • Consumers are irritated with failure • Storytellers inevitably fail • Consumers become bored with stories quickly
people are drawn into stories
When a supervisor doesn't emphasize the importance of customer satisfaction, employees with higher customer orientation: all supervisors surveyed emphasized the importance of customer satisfaction perform more customer service behaviors than they might have perform a varied amount of customer service behaviors perform fewer customer service behaviors than they might have
perform fewer customer service behaviors than they might have
Which of these is not a common type of public relations tools? • Personal interviews • Press kits/releases • Speaking engagements • Philanthropy
personal interviews
A frontline interaction between a company representative and a potential buyer designed to influence a purchase decision is defined as: team selling inside selling personal selling outside selling
personal selling
A nonprofit that provides education for underserved communities is looking to run a new promotion. The company is deciding to either provide several statistics or a single, personal story from a student relying on funds. Which strategy best encompasses the idea of being Concrete? • Personal story • Statistics • Both are equally effective • There is no way to determine effectiveness
personal story
