MKTG Final cob300 McMillan

If a marketing researcher is interested in observing group interaction during an informal, unstructured, and open-ended data collection process, he or she should use a. crowdsourcing. b. an on-site computer interview. c. a telephone survey. d. a focus-group interview. e. a shopping mall intercept interview.

a focus-group interview.

After the advertising budget is determined, the next step in creating an advertising campaign is a. developing the media plan. b. executing the campaign. c. creating the advertising message. d. evaluating the advertising objectives. e. creating the advertising platform.

developing the media plan.

When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n) a. market test. b. expert forecasting survey. c. random factor analysis. d. Delphi technique. e. external judgment survey.

expert forecasting survey.

A differentiated targeting strategy is when the organization targets two or more markets by developing a single marketing mix.

false

Distribution decisions have little influence on the rest of the marketing mix.

false

Public relations is a set of tools to be used primarily during crises.

false

To be truly useful for sales analyses, marketers must compare current sales data with forecasted sales, industry sales, specific competitors' sales, and a. market share. b. the costs incurred from marketing efforts to achieve the sales volume. c. performance standards. d. business-unit costs. e. business-unit objectives.

the costs incurred from marketing efforts to achieve the sales volume.

If a product has an inelastic demand and the manufacturer raises its price, a. the demand will become more inelastic. b. the demand schedule will shift. c. total revenue will decrease. d. total revenue will increase. e. quantity demanded will decrease.

total revenue will increase.

A marketer's use of framing can make a product characteristic seem more important to a consumer and can facilitate its recall from memory.

true

Sellers of farm produce would be likely to use an undifferentiated targeting strategy.

true

The line between different marketing channels is becoming increasingly blurred.

true

Warehouse showrooms are able to sell products at low prices by passing some of their marketing functions on to consumers.

true

​The marketing concept is a management philosophy, not a second definition of marketing.

true

Levitz Furniture locates in huge, low-cost buildings; maintains large, on-premises inventories; and offers minimum service. Levitz is a a. department store. b. warehouse club. c. warehouse showroom. d. superstore. e. catalog showroom.

warehouse showroom.

When Shaw Industries develops new carpet fibers that are highly stain-resistant and durable, it must educate consumers about the product's benefits. This calls for activity in which of the following marketing mix variables? a. Price b. Promotion c. Distribution d. Packaging e. Product

. Promotion

The primary value that a marketer expects to receive from a customer in an exchange relationship is a. ​quality merchandise that meets expectations. b. ​the price charged for the product. c. ​few returns of the merchandise purchased. d. ​customer satisfaction. e. ​references to other potential customers.

. ​the price charged for the product.

After several children became ill while playing with toys imported from outside the United States, medical researchers found several illegal chemicals, including lead in the paint. These toys were sold primarily through websites on the Internet. Which of the following agencies would most likely have jurisdiction over the problem with lead in the paint of children's toys? a. Children's Online Protection Act b. Food and Drug Administration c. National Advertising Review Board d. Environmental Protection Agency e. Consumer Product Safety Commission

Consumer Product Safety Commission

______ developed on a large scale in the early 1950s, when postwar production caught up with strong consumer demand for goods. a. Convenience stores b. Department stores c. Hypermarkets d. Discount stores e. Superstores

Discount stores

Zoe is planning to open an upscale dress boutique. She is evaluating ease of movement to and from sites, vehicular traffic, types of stores in the area, and transportation networks. Which strategic retailing issue is she concerned with at the time? a. Category management b. Location c. Retail positioning d. Production depth e. Product mix

Location

An example of an emerging type of power shopping center might contain a. Kroger, CVS, and Subway. b. JCPenney, Sears, some specialty shops, McDonald's, and Dairy Queen. c. Kate Spade, Van Heusen, Corning Ware, and Mikasa outlets. d. Michael's, Office Depot, T.J. Maxx, and Best Buy. e. a Supercenter Walmart, Home Depot, and Kroger.

Michael's, Office Depot, T.J. Maxx, and Best Buy.

Which of the following would be used in setting the price of a new product if considerable competition is expected? a. Psychological pricing b. Odd-even pricing c. Price skimming d. Penetration pricing e. Prestige pricing

Penetration pricing

Which of the following is NOT a service product? a. Overnight stay at an Aloft Hotel b. Tennis racket c. Dry cleaning of a suit d. Flight on Southwest Airlines e. Ariana Grande concert

Tennis racket

One overlooked internal source of secondary marketing information discussed in the text is a. quality control data. b. accounting records. c. consumer surveys. d. sales receipts. e. interviews with salespeople.

accounting records.

A product mix is best described as a. all products of a particular type. b. many products sold by one firm. c. a group of closely related products that are considered a unit because of market, technical, or end-use considerations. d. product, distribution, promotion, and price. e. all products offered by a firm.

all products offered by a firm.

The focal point of all marketing activities a. is the marketing mix. b. are sales. c. are profits. d. are customers. e. are products.

are customers

Multichannel distribution is characterized as a. marketing environments that are highly competitive. b. distribution channels that typically carry exclusive products, such as Rolex watches. c. the use of a variety of marketing channels to ensure maximum distribution. d. manufacturers that forbid an intermediary to carry products of competing producers. e. illegal under the Robinson-Patman Act.

c. the use of a variety of marketing channels to ensure maximum distribution.

If Ben & Jerry's calculates that it could sell up to 25% of all ice cream cones sold in the United States, this percentage would represent the ice cream marketer's a. company sales potential. b. market potential. c. sales forecast. d. sales objective. e. target growth rate.

company sales potential.

When Subaru's advertising campaign mentions the Subaru Forester being named a 2018 IIHS Top Safety Pick, it is using _______ advertising. a. reminder b. institutional c. competitive d. defensive e. reinforcement

competitive

To prevent channel conflict, producers or other channel members may do all of the following except a. provide recognition to certain resellers for their importance in distributing to others. b. define policies for direct sales to avoid potential conflict over large accounts. c. negotiate territorial issues among regional distributors. d. combine reseller markets. e. provide competing resellers with different brands.

d. combine reseller markets.

Because of service perishability, it is difficult to price services in a manner that takes into account fluctuations in demand.

false

Concept testing gives reliable feedback, but at a relatively high cost.

false

Cost-based pricing results in a high price when demand is high and a low price when demand is low.

false

Discount stores are distinctive in that they usually are very service oriented.

false

Fixed costs vary with the number of units produced or sold.

false

Stars are profitable products that usually generate more cash than is required to maintain share.

false

The absolute dollar outlay for advertising is usually low.

false

The coordination of selling efforts within a community shopping center is usually minimal.

false

The in-home (door-to-door) interview is an example of a focus-group interview.

false

The two general approaches to measuring company sales potential are the breakdown and the buildup approach.

false

Discretionary income is used for all of the following except a. food. b. movies. c. furniture. d. education. e. pets.

food

A group that has the willingness, ability, and authority to buy a product is a a. ​market. b. ​business customer. c. ​consumer. d. ​strategic business unit. e. ​strategic window.

market

Three primary methods of collecting information for environmental scanning are a. company database, executive knowledge, and research. b. secondary sources, company records, and observation. c. executive knowledge, media, and marketing research. d. marketing research, company records, and advance orders. e. observation, secondary sources, and marketing research.

observation, secondary sources, and marketing research.

The four major competitive structures are a. monopolies, limited competition, oligopolistic competition, and pure competition. b. brand, product, total budget, and generic. c. oligopolies, monopolies, monopolistic competition, and pure competition. d. monopolies, oligopolies, oligopolistic monopolies, and pure competition. e. pure competition, heavy competition, moderate competition, and light competition.

oligopolies, monopolies, monopolistic competition, and pure competition

Alicia is concerned about the effectiveness of Jeroboam, Inc.'s promotional messages and is seeking an approach with immediate feedback. Alicia is most likely to achieve this through a. newspaper advertising. b. television advertising. c. sales promotion. d. personal selling. e. public relations.

personal selling

The five major stages of the consumer buying decision process, in order, are a. problem recognition, information search, evaluation of alternatives, postpurchase evaluation, and purchase. b. problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation. c. information search, establishment of product criteria, evaluation of alternatives, purchase, and postpurchase evaluation. d. information search, evaluation of alternatives, purchase, trial adoption period, and postpurchase evaluation. e. problem recognition, purchase, evaluation of alternatives, postpurchase evaluation, and rebuy.

problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.

Check My Work Individuals and business organizations that purchase products for the purpose of making a profit either by using the products to produce other products or by using them in their operations are classified as ____ markets. a. consumer b. producer c. government d. reseller e. institutional

producer

Keira is a member of the product development team at a company that manufactures sports equipment. During a recent meeting, one of the team members asked, "What level of quality are we building into the camping gear?" Based on this question, Keira and her team are most likely in the ____ phase of new-product development. a. business analysis b. product development c. test marketing d. commercialization e. concept testing

product development

Consumers receive the benefits of place utility when a. they make purchases with credit and debit cards. b. they can stock up on products they need but not use them right away. c. retailers remain open 24 hours a day. d. they have to travel excessively to obtain products they want. e. products are available in locations where consumers want to buy them.

products are available in locations where consumers want to buy them.

The forecasting techniques that assume past sales patterns will continue into the future are all variations of a. seasonal analysis. b. regression analysis. c. past sales forecasting surveys. d. time series analysis. e. random factor analysis.

time series analysis.

Demand-based pricing relies on information concerning peak demand times and off-peak demand times.

true

In vertical integration, control is expanded to two or more successive links of production or distribution.

true

Many products never get beyond the introduction stage.

true

Marketing intermediaries bridge the gap between suppliers (or producers) and buyers (or consumers).

true

Procter & Gamble has a wider product mix than does Baskin Robbins.

true

Promotion can assist salespeople in finding likely sales prospects

true

Promotion can help sustain interest in established products that have long been available

true

Promotion decreases in importance during a product's decline stage.

true

Under a licensing arrangement, the licensee pays commissions or royalties on sales or supplies used in manufacturing.

true

If a company is introducing a brand into a market where it already has one or more brands, it would likely choose which of the following bases for positioning the new product?​ a. ​Target market positioning b. ​Positioning based on style c. ​Head-to-head competition positioning d. ​Positioning based on price e. ​Avoiding competition positioning

​Avoiding competition positioning

According to the marketing concept, an organization should try to a. ​view selling activities as the major means of increasing profits. b. ​consider short-run objectives and cash flow needs before developing new products. c. ​put most of its emphasis on marketing activities and be less concerned with finance, accounting, and personnel. d. ​define its business as "making a product." e. ​provide products that satisfy customers' needs and allow the organization to achieve its goals.

​provide products that satisfy customers' needs and allow the organization to achieve its goals