Principles of Marketing - Chapter 11 & 12

Why is it important that inventory does not arrive too early?

Additional storage costs may be accrued.

True or false: Of all marketing channels for consumer products, the most straightforward is the agent channel.

false

True or false: The supply chain is a one-way process that runs directly from raw materials to the end customer.

false

True or false: Today, most large organizations have supply chain functions spread across different divisions, where they are performed independently and do not interact.

false

The number of levels in a channel can range from two to several, but _____ is typical.

five

The process involving coordination of a variety of different communication tools used to deliver a common message and impact customers' perceptions and behavior is known as _____.

integrated marketing communication

A successful marketing campaign begins with first determining _____.

objectives

In the world of search engine optimization, _____ search results are unpaid listings that appear solely because of their relevance to the search terms entered when conducting an Internet search.

organic

Which element of a marketing campaign plan identifies which team or team member is responsible for executing each step?

ownership

In addition to the rest of the marketing mix, _____ is one of the chief marketing components of the retail experience.

presentation

In the past, marketers relied on _____ far more than they do now.

print media

In retail marketing, which component of the marketing mix includes the shopping experience, the merchandise, and the retail brand itself?

promotion

The flow of persuasive communication in the form of advertising, personal selling, sales promotion, and public relations within a distribution channel is called the _____ flow.

promotion

_____ is/are the most popular performance criteria used in channel evaluation.

sales

After a prospective customer becomes an actual customer, the use of _____ can help deepen and individualize the relationship.

social media

A target customer who asks whether he or she can obtain a product at or near the location where he or she wants it is concerned with which service output?

spatial convenience

In the past, channels of distribution grew and became more complex as _____ developed.

specialization

Justin is an author of science fiction novels. He self-publishes his work, and his printed books are carried at a large national bookstore and on his personal website. Justin prefers to sell his books on his website, where he does not have to pay commissions to the bookstore, but he sells more books at the bookstore than on his website. Justin's website and the book retailer are expected to both cooperate and compete, an arrangement known as _____ conflict.

structural

Activities of suppliers of raw materials, components, and services; transportation providers; internal departments; and information systems are managed and coordinated through _____ management.

supply chain

_____ activities involve the transformation of natural resources, raw materials, and components into a finished product that is delivered to the end customer.

supply chain

To build relationships with potential customers and to discover their needs, marketers should provide their sales teams with which tools?

surveys

Target audiences are identified through which of the following campaign plan components?

tactics

True or false: By purchasing large quantities or volumes, wholesalers are able to pay less for goods than retailers would pay.

true

True or false: Figuring out what to measure starts with considering the overall goals and objectives of both the marketing team and the organization overall.

true

True or false: Incentives extended to a sales employee in a retail setting can take the form of either a direct commission on sales or a less direct financial or benefits bonus for the store meeting its goals.

true

True or false: Marketers play a large role in forecasting and producing demand, which goes hand in hand with effective supply chain management.

true

True or false: Mass marketing has very little direct contact with its customers.

true

True or false: Qualifying a lead involves confirming that the lead actually has a recognized need for the offering and the ability to pay for it.

true

True or false: Sourcing decisions may affect the brand image, the quality of the products, and the pricing of the products.

true

True or false: The goal of helping to move prospective customers through the purchasing process successfully is shared by both the marketing and sales functions.

true

Which of the following PR tools would be utilized in thought leadership? Select all that apply.

- A day-of-community-service event - A white paper focused on research and development

The key messages that make up a marketing campaign should do which of the following? Select all that apply.

- Express the main idea that the marketers want the target audience to remember. - Resonate with the target audience so they pay attention and decide that the message is important.

Which of the following are important characteristics of a channel of distribution? Select all that apply.

- It consists of organizations. - It involves a continuous process. - Distribution objectives guide its activities.

When evaluating a channel member's performance, which of the following is a possible performance criterion? Select all that apply.

- Selling capabilities - Maintenance of adequate inventory

Department-level KPIs include which of the following? Select all that apply.

- The number of qualified new leads generated - The percentage of leads who are converted into customers

When third-party sales are involved, it is important that a marketer do which of the following? Select all that apply.

- Understand and align incentives - Provide exceptional sales support

As the prospective customer becomes an actual customer, IMC tools such as _____ can help deepen and individualize the relationship. Select all that apply.

- emails - surveys - social media

Retailing involves all activities required to market consumer goods and services to consumers who are purchasing for _____ needs. Select all that apply.

- family - individual

When a contact recognizes that he wants to give serious consideration to the company's products, tools such as _____ can help him understand the product features and benefits he will enjoy. Select all that apply.

- free trial offers - demonstrations - product comparisons

In addition to the elements of the traditional marketing mix, _____ is a key element for retail marketers. Select all that apply.

- personnel - presentation

The number and variety of marketing communication tools have proliferated with the expansion of _____. Select all that apply.

- the internet - social media - mobile technologies

A consumer sales promotion technique might include which of the following?

Creating a point-of-sale display

A CRM system generally captures and maintains information that is very useful to the sales and marketing process. Which types of information does the CRM system capture?

Current and prospective customer information and the businesses interaction with them

Which of the following would be an example of a company-level key performance indicator (KPI)?

Customer satisfaction ratings

What are the first three planning steps marketers take to define what they want to accomplish and with whom?

Determine the target market purpose and objectives for IMC campaign, set S.M.A.R.T. goals

Which public relations tool may take the form of a product review written by a well-known blogger?

Influencer/analyst relations

Which of the following is an advantage of having a sales promotion?

It will induce consumers to take immediate action.

What are the vital roles marketers play in supporting the sales process?

Marketers provide tools to the salespeople to assist them in closing deals.

Which of the following is NOT an example of a key performance indicator of sales and revenue generation?

Number of qualified leads

The third stage in the consumer decision-making process involves identifying and evaluating alternatives. Which stage in the sales process parallels this stage?

Presenting a solution and resolving concerns

_____ means that the right products are almost always found in the places where the consumer expects to find them, comparisons are possible, prices are marked, and methods of payment are available.

Routinization

Which of the following best explains the process that finds, evaluates, and engages suppliers to provide goods and services to a business?

Sourcing

Before beginning a campaign, the marketers should take into account which risk?

That resources may be in short supply

To begin an action plan, what must a marketer know first?

The campaign deadline date, any date conflicts, and the people's time limitations and availabilities

Which types of marketing tools are helpful to salespeople at the beginning of the sales process?

Trade shows and conferences

The first step of channel management is to analyze the consumer. Which of the following is a question a marketer should answer for this step?

Who are our ultimate buyers and users?

A paid form of communication from a specific source or sponsor that accentuates goods, services, and/or ideas, of the sponsor is the definition of _____.

advertising

The first step of the channel management process is to _____.

analyze the customer

In a retail setting, the _____ describes the feeling, tone, or mood of a store's interior.

atmosphere

Roles, communication, conflict, and power are the four human dimensions that have been incorporated into the study of channel _____.

behavior

One primary difference between the supply chain and the marketing chain is that the supply chain is _____.

broader

Purchases made for _____ needs are not included in the retail channel.

business

Maintaining market share and achieving a new pattern of distribution are examples of _____.

channel objectives

Mass marketers must distribute their products through various retail outlets alongside their _____.

competitors

Esther is ninety years old, but she still shops for her own groceries every morning. When Esther was younger, she would head to Main Street and stop at the butcher shop for meat, the bakery for bread, and the farmer's market for fruits and vegetables. Now, she goes to a supermarket, where she can shop for all of those items under one roof and spend much less time buying food for the day. The convenience that Esther enjoys is called _____.

contact efficiency

The retail industry is designed to create _____.

contact efficiency

A marketing team is trying to measure the success of its paid media choices. This would involve taking which KPI into account?

costs per impression

The key to effective direct marketing activity depends on the use of _____.

databases

_____ stores are characterized by the wide variety of merchandise that they carry.

department

The sales process begins with _____.

determine where to focus the attention

The _____ channel, which is the simplest channel, involves the producer selling directly to the consumer.

direct

Sets of interdependent organizations participating in the process providing a payment mechanism for a provider while making a service or product accessible and available for use or consumption are known as _____.

distribution channels

It is important for a business to secure a _____ that is memorable and functional for the business when beginning a website marketing campaign.

domain name

The primary message of a marketing campaign is sometimes referred to as a(n) _____.

elevator pitch

The first step in measuring results following an IMC campaign is to _____.

establish standards for IMC effectiveness.

True or false: A detailed budget listing the specific elements that require out-of-pocket spending and how much they cost should be put together before the promotional mix is outlined.

false

True or false: IMC encourages marketers to think about communication in a way that looks at each means of communication separately.

false

True or false: It is always easier to communicate effectively when moving against the current consumer demand than with it.

false

A company makes thousands of stickers advertising a new product they are creating and hires a crew to place them on walls and doors throughout the city. This is an example of _____.

guerrilla marketing

What is one of the major factors for success of a marketing campaign?

having a clear and consistent message

The term _____ marketing communications, or IMC, is often used to refer to the promotion aspect of the marketing mix.

integrated

When an organization takes a(n) _____ approach, the company is recognizing that it cannot manage each part of the supply chain as an independent function.

integrated

Today, marketing promotion is often called integrated marketing communication (IMC) because _____.

it incorporates a number of different media

Simply put, IMC is the use of various _____ to promote brand messaging in a way that reinforces one another and further promotes the brand.

media

At the center of any successful marketing activity is a(n) _____, which should ideally be solid, clear, and consistent.

message

To support a primary message, the marketers should establish at least one (but preferably more) _____ to substantiate that message.

message pillars

Which of the following have caused the number and variety of marketing tools to proliferate in recent years?

mobile technologies

The _____ flow is the institutions that are associated with the actual exchange processes.

negotiation

In the past, _____ had a greater role in marketing than it does today.

newspaper advertising

Through the use of _____, products can be tracked using chips both in the facility and in transit, making the supply chain move more smoothly.

radio frequency identification technology

Mass marketing has _____ direct contact with its customers.

very little

_____ streamline all operational aspects of their business and pass on the efficiency savings to customers.

warehouse retailers

To improve supply chain functions, _____ technology can ensure efficiency of transit and the safety of trucks and truck drivers.

weighing

Gene works full time as a park ranger for most of the year, but around Christmas he runs his own business selling Christmas trees. His brother-in-law, Steve, is a Christmas tree grower who grows trees year-round on his land and harvests them in November. Gene buys these trees from Steve and sells them directly to retail outlets. Gene is an example of a(n) _____.

wholesaler