Final Review Mark 3336
The decisions about reach, frequency, and impact of an advertisement fall into category of ___ decisions. Message Advertising evaluations Media Sales objectives budget
Media
A ______ documents an organization's purpose-what it wants to accomplish in the larger environment. A) Product strategy B) Business portfolio C) Value proposition D) Vision statement E) Mission statement
Mission statement
In a(n) _______ situation, the buyer wants to revise product specification,prices,terms, or suppliers. Reverse auction Modified rebuy Absolute auction Straight rebuy New task
Modified rebuy
_____ shows consumer perceptions of a company's brands versus competing products on important buying dimensions. Perceptual positioning maps Gap analysis Cost-benefit analysis Predictive buying Cluster analysis
Perceptual positioning maps
After selecting sweater on the Land's End Website, Kelly was asked to fill in details for the customer database. Kelly was given a form which required her to fill her name, DOB, and email address. Kelly then checked a box that was next to the following statement: "Yes, I would like to receive weekly promotional information on Land's End online. "Which of the following practices is evident from this scenario? Email spoofing Contextual advertising Permission based email marketing Email hosting service Catalog marketing
Permission based email marketing
Which of the following is true with regard to personal selling? Personal selling is a relatively new profession Personal selling entails personal presentations by a firm's sales force for the purpose of making sales and building customer relationships. Personal selling distances the buyer from the seller and does not focus on building enduring relationships An outside sales force is not involved in personal selling Personal selling involves making personal requests to potential buyers to enter into short-term business relationships with firms.
Personal selling entails personal presentations by a firm's sales force for the purpose of making sales and building customer relationships.
Encouraging customers to switch brands is most likely the objective of ____ advertising. Institutional Copy Reminder Covert Persuasive
Persuasive
Which of the following brands most likely requires heavy advertising in order to be set apart from similar products? International brands Mature brands Undifferentiated brands High-share brands Specialty brands
Undifferentiated brands
Sigman.Inc., a software firm based in California, reordered 50 printers from the designated providers without any modifications. This is an example of _________. A) A modified rebuy B) A straight rebuy C) A new task D) Derived demand E) Inelastic demand
A straight rebuy
Plasticine Palace supplies its products exclusively to Arts and Crafts, a chain of stationery stores across the country. The chain then makes the plasticine available to end-consumers. This is an example of _____. An indirect marketing channel Extensive distribution Disintermediation A direct marketing channel Intensive distribution
An indirect marketing channel
Which of the following is true about business purchases? A) Purchasing agents are absent in business purchases B) Business purchases involve less participate in decision making compared to consumer purchases. C) Business purchases involve less technical and economic considerations compared to consumer. D) Business purchases involve more professional purchasing effort than consumer purchases. E) Business purchases are usually quicker and more informal than are consumer purchases.
Business purchases involve more professional purchasing effort than consumer purchases.
______consists of evaluating each market segment's attractiveness and selecting one or more market segment to enter. A) Mass Customization B) Positioning C) Market targeting D) Market segmentation E) Differentiation
C) Market Targeting
______ are industrial products. Retail items Capital items Shopping products Convenience products Specialty products
Capital items
Almost all major purchases result in ______, or discomfort caused by postpurchase conflict. Need recognition Cognitive dissonance Conspicuous consumption Consumer ethnocentrism Consumer capitalism
Cognitive dissonance
Which of the following is an internal source for new-product ideas? Competitors Trade magazines Marketing research firms Company executives Government agencies
Company executives
To the extent that a company can differentiate and position itself as providing superior customer value, it gains _____. Complementary assets Service life Contingent liability Competitive advantage Core competencies
Competitive advantage
The marketing department of a reputed firm wants to improve strategic decision making, track the actions of other players in the market, and provide early warning of opportunities and threats. Which of the following would help the firm achieve its objectives? A) Ethnographic B) Blindspot analysis C) Customer relationship management D) Data warehousing E) Competitive marketing intelligence
Competitive marketing intelligence
Which term best describes Web sites such as Wikipedia.com and ESPN.com Online social network Transaction site E-Trailer Search engine Content site
Content site
______ involves sending an offer, announcement, reminder, or other item to a person at a physical address. Ambush marketing Telemarketing Direct-mail marketing Kiosk marketing Online marketing
Direct-mail marketing
_____ are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. Shopping products Unsought products Supplies and repair services Convenience products Capital items
Convenience Products
The main block text in a print ad is referred to as the ____. Headline Copy Testimonial Evidence Message strategy statement Slogan
Copy
Which of the following processes does value-based pricing reverse? Cost-based pricing Value-added pricing Everyday low pricing High-low pricing Good-value pricing
Cost-based pricing
Demand for outboard motors depends on consumers purchasing fishing boats. THis is an example of _____ demand. Primary Latent Composite Negative Derived
Derived
Retailers such as Costco and Walmart charge a constant, daily low price with few or no temporary price discounts. This is an example of ____. Competition-based pricing Break-even pricing Cost-plus pricing Penetration pricing Every low pricing
Every low pricing
Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits? Decline Introductions Growth Maturity Product development
Growth
Cost-plus pricing _______. Involves adding a standard markup for profit Involved pricing that accurately reflects production costs Is a value based pricing method Aims at breaking even on the costs of making and marketing a product Is a complex pricing method
Involves adding a standard markup for profit
Coca cola cups prominently featured on episodes of American Idol are an example of ____.
Product Placement
Why are customers often considered the most important sources of new-product ideas?
The company can analyze customer questions and complaints to find new products that better solve consumer problems
Brad works with a reputed retailer and leads a team that collects market information from a wide variety of sources ranging from marketing research studies to monitoring online conversations where consumers discuss Brad's firm or its products. Brad's team uses this information to arrive at a better understanding of consumer behavior and their buying motives. This, in turn, allows Brad's firm to successfully generate more value for consumers. Brad leads the ______ team. Strategy implementation Product development Customer relationship management Customer insights Human resource
Customer insights
Which of the following is the first step in strategic planning? A) Developing the business portfolio B) Identifying the organization's weaknesses and the threats it faces C) Setting short-term goals D) Formulating the key marketing strategies E) Defining the organizational mission
Defining the organizational mission
Which of the following is the first step in the marketing research process? A) Implementing the research plan B) Developing the research plan C) Interpreting and reporting the findings D) Developing a marketing information system E) Defining the problem and objectives of the study
Defining the problem and objectives of the study
_______ segmentation divides the market into segmentation based on variable such as age, life-cycle sage, gender, income, occupation, education, religion, ethnicity, and generation. Demographic Psychographic Benefit Geographic Occasion
Demographic
the business marketers normally deals with _______ than the consumer marketer does. Neglibe customer complaints Dar more elastic demand Far fewer but far larger buyers Far more but far smaller buyer Far less fluctuations in demands
Far fewer but far larger buyers
In the AIDA model, the D stands for Desire Data Demand Diversion Decoding
Desire
_______ involves actually distinguishing the firm's market offering to create superior customer value. Differentiation Mass customization Targeting Diversifying Market segmentation
Differentiation
In a(n) ____ channel, the same member both produces and distributes a product or service to consumers. Direct Tiered Exclusive Vertical platform
Direct
Amazon.com., ebay, and geico, approach customers via web sites or mobile apps. This is an example of ____. Multi level marketing Mass marketing Direct marketing Ambush marketing Guerilla marketing
Direct marketing
Which major promotion category makes use of catalogs, telephone marketing, kiosks, and the Internet? Horizontal diversification Sales promotion Advertising Public relations Direct marketing
Direct marketing
______ occurs when product or service producers cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones. Multichannelization Cross merchandising Disintermediation Extensive distribution Inclusive distribution
Disintermediation
Market segmentation can be best described as the process of _____ A) Dividing a market into distinct groups of buyers who have different needs, characteristic, or behaviors, and who might require separate products or marketing programs. B) Turning marketing plans into marketing actions to accomplish strategic marketing objectives C) Assigning specific human attributes to a given brand D) Evaluating each market segment's attractiveness and selecting one or more segments to enter E) Maintaining a strategic fit between organizational goals and changing marketing opportunities
Dividing a market into distinct groups of buyers who have different needs, characteristic, or behaviors, and who might require separate products or marketing programs.
A company sent a trained observer to watch and interact with consumers in their natural environment in order to gain deeper insights on consumer needs. This is an example of _______. Ethnographic research Viral marketing Experimental research Niche marketing Survey research
Ethnographic research
Ocean Spray sells its ar fresheners only through Ray's Retail Chain. This is an example of ____ distribution. Indirect Corporate Exclusive Intensive selective
Exclusive
Kinger Burgers came out with a new hamburger and, before including it into its main menu, released it in two different cities with two different prices. The marketers at Kinger Burgers then analyzed the different levels of purchase made at these two different places, planning to using the information to help them set a nationwide price for the new offering. This is an example of ________. A) Ethnocentric research B) Descriptive research C) Experiment research D) Survey research E) DIY research
Experiment research
_____ research, the objective is to gather preliminary information that will help define the problem and test hypotheses. Causal Descriptive Statistical Exploratory Analytic
Exploratory
Porsche is a German automobile manufacturer that competes against BMW and Audi, but only in the sports car and SUV segments of the automobile market. Porsche utilizes and _____ strategy. Market segmentation Blue ocean Focus Middle-of-the-road Overall costs leadership
Focus
The number of times an average person in the market is exposed to a message is known as the ____ of the message. Turnover rate Frequency Quantitative value Reach Exposure rate
Frequency
A(n) _______ controls the flow of information to others in the buying center. Gatekeeper Buyer User Decider Influencer
Gatekeeper
"Many companies today are localizing their product advertising,promotion, and sales efforts to fit the needs of individual regions,cities, and neighborhoods." This is an example of ______. Product diversification Branding Geographic segmentation Psychographic segmentation Demographic segmentation
Geographic segmentation
Which of the following is most likely essential for direct marketing to be effective? Marketing myopia The selling concept Ambush marketing Good customer database Well-trained sales force
Good customer database
Which of the following consumer buying behaviors is related to conditions of low-consumer involvement and little significant brand difference? Variety-seeking buying behavior dissonance -reducing buying behavior Habitual buying behavior Complex buying behavior Consumer capitalism
Habitual buying behavior
Which of the following is a common reason for a new product failure? Ineffective social marketing campaigns Incorrect estimation of the market size Low selling prices of products Low product development costs Patent ownership exclusively held by the company
Incorrect estimation of the market size
If demand hardly changes with a small change in price, the demand is _____. Inelastic Highly elastic Variable Negative Derived
Inelastic
The Pure Drug Company produces insulin, a product with a very stable demand. Even though the price changed several times in the past two years, the demand for Pure Drug's insulin remained relatively unaffected. In this instance, the demand for insulin is representative of _______ demand. Negative Derived Composite Inelastic Latent
Inelastic
Today several companies are adopting the concept of _____, which carefully combines and coordinates the company's many communication channels to deliver a clear, consistent, and compelling message about the organization and its brands. Buzz marketing Pull strategy Vertical diversification Integrated marketing communications Nonpersonal communication channels
Integrated marketing communications
________ play an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities Virtual banks Upstream partners Price consultants Intermediaries Uniform-delivery networks
Intermediaries
Which of the following is an advantage of using an internal database? A) Information obtained from internal databases is almost always sufficient for making marketing decisions. B) Data always remains current in internal databases C) Internal databases require less maintenance efforts. D) Internal database can be accessed more quickly and cheaply than other information sources. E) Highly sophisticated equipment and techniques are not required for maintaining internal databases.
Internal database can be accessed more quickly and cheaply than other information sources.
A segment is less attractive if _______. It already contains many strong and aggressive competitors It is substantial It contains weak suppliers It is actionable It is difficult for new entrants to enter
It already contains many strong and aggressive competitors
which of the following is true about secondary data? A) It requires more effort compared to gathering primary data. B) It is always current and, unlike primary data, it does not have to be updated. C) Unlike primary data, it can be obtained by using direct surveys and questionnaires by the company. D) It can be obtained more quickly and at a lower cost than primary data. E) It cannot provide extra information a company is looking for.
It can be obtained more quickly and at a lower cost than primary data.
Which of the following is true with regard to the product/expansion grid (also called teh Ansoff Grid)? A) It classified SBUs into four distinct categories. B) It functions on the premise that firms should downsize to regain market share. C) It is a useful device for segregating customers into distinct categories D) It helps companies analyze their internal strengths and weaknesses. E) It is a useful device for identifying growth opportunities.
It is a useful device for identifying growth opportunities.
A company that pursues ____ will react much more strongly to a competitor's cost-reducing manufacturing breakthrough than to the same competitor's advertising increase. Product differentiation Product leadership Customer intimacy Low cost leadership A middle-of -the-roaders-strategy
Low cost leadership
Lark Inc, an American electronics company, is currently reviewing new geographic markets to sell its highly popular LED television, By 2020, it plans to open new stores across all the major SOuth Asian cities. Lark is most likely following a ______ strategy. Product adaptation Product development Local marketing Market development diversification
Market development
_______ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. Positioning Market targeting Mass customization Market segmentation Differentiation
Market segmentation
When a company sets a high price for a new product with the intention of reducing the price in the future, it is using the ______ pricing strategy. Market-penetration Market segmentation Cost plus Competitive Market skimming
Market skimming
The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is called ______. Prospecting Market segmentation Market targeting Downsizing Diversification
Market targeting
A _____ is s set of interdependent organizations that help make a product or a service available for use or consumption by consumer or business user. Consumer base Resource bank Marketing channel Product line Product delivery network
Marketing channel
_____ is the systematic design, collection , analysis, and reporting of data relevant to a specific marketing situation facing an organization. Total quality management Break Even analysis Niche marketing Marketing research Causal research
Marketing research
Product improvements, product modifications, and original products can all be classified as _______. New products Blueprints Test products Product extensions Prototypes
New products
P & G introduced Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This illustrates ________. The importance of different sources for idea generation How idea screening can make a product a commercial success Why prototypes are so important One of the problems associated with test marketing Why many companies engage in crowdsourcing
One of the problems associated with test marketing
Which of the following is the fastest growing form of direct-marketing? A) Ambush marketing B) Online marketing C) Direct-mail marketing D) Telemarketing E) Kiosk marketing
Online marketing
The boom in Internet marketing has created a new set of social and ethical issues. Critics worry most about ______. Puffery in advertising Accessibility Issues pertaining to efficiency Sustainability Online privacy issues
Online privacy issues
_______ are communities over the Internet where people congregate, socialize, and exchange views and information. Interactive television Online social networks Content sponsorships Digital catalogs Corporate web sites
Online social networks
The 4P are central to the marketing activity. Which of the following is NOT one of the 4Ps? Place Price Product Promotion Packaging
Packaging
Springfield, a convenience store, has recently begun to redesign and restock its stores to offer a more upscale environment with products such a s house wines and fresh foods. This information indicates that Springfield has most likely changed its _______. Service level Organizational structure Corporate identity Price strategy Positioning
Positioning
_____ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. Positioning Segmentation Targeting Mass customization Differentiation
Positioning
"To busy multitaskers who need help remembering things, Evernote is the only digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your computer, phone, tablet, and the Web. "This an example of a a(n) ________ A) Positioning statement B) Order-routine specification C) Vision statement D) Statement of purpose E) Product specification
Positioning Statement
Daizy's is s shop which carries only plus-size clothing. According to this information, daizy's differentiates itself from its competitors based on Product assortment Service mix Store atmosphere Pricing Distribution strategy
Product assortment
Which term refers to the course that a product's sales and profits take over its lifetime? Service life Product life cycle Total product process Product mix Marketing mix
Product life cycle
A _______ refers to the way a product is defined by consumers on important attributes-the place the product occupies in consumers' minds relative to competing products. Value stream Value proposition Core competency Product position Product specification
Product position
Consumer products refer to ________. A) Products and services bought by final consumers for personal consumption B) Products purchased by consumer for further processing or for use in conducting a business C) Products that aid in the consumer's production or operations, including installations and accessory equipment D) Raw material as wells as manufactured materials and parts E) Primarily intangible offerings from marketers
Products and services bought by final consumers for personal consumption
Which of the following is true with regard to products? A) The quality of products is far more difficult to measure than that of services. B) Products include services, events, persons, places, organizations, ideas, or a mixture of these. C) Products do not include experience, organizations, persons, palce, and ideas. D) Products are not meant for sale in the market.
Products include services, events, persons, places, organizations, ideas, or a mixture of these
______ segmentation divides buyer into different segments based on social class, lifestyle, or personality characteristic. Geographic Benefit Psychographic Occasion Demographic
Psychographic
______ are low-share business units in high-growth markets that require a lot of cash to hold their share. Dogs Bears Cash cows Stars Question mark
Question mark
________ is a measure of the percentage of people in the target market who are exposed to the ad campaign during a given period of time. Frequency Qualitative approach Premium Reach Impact
Reach
An advertising objective is classified by its primary purpose, which is to inform, persuade, or _____. Reciprocate Suggest Compete Remind Explain
Remind
Keeping the brand in a customer's mind during off-seasons is most likely a goal of _______ advertising. Reminder Covert Informative Competitive Attack
Reminder
Which of the following is most likely an objective of informative advertising? Change customer perceptions of brand value Encourage customers to switch brand Suggest new uses for a product Build brand preference Keep the brand in customer minds during off-seasons
Suggest new uses for a product
of the following would most likely improve coordination between marketing and sales? A) The marketing and sales departments should conflict annual job rotations. B) The sales force should strategize promotional strategies and be the primary decision makers about marketing C) Marketing managers should field test new promotion strategies before the sales team D) Salespeople should participate in martketing planning sessions by sharing firsthand customer knowledge E) Salespeople should directly participate in the development of new products.
Salespeople should participate in martketing planning sessions by sharing firsthand customer knowledge
SERP is an acronym for... Search Engine Results Page Stand, Exit, Return, and then get Perturbed Segmentation, Experience, Reach, and Positioning Statistical Exponents from Regression Projections.
Search Engine Results Page
According to Maslow's hierarchy of needs, which of the following is the LEAST pressing need? Physiological needs Self-actualization needs Esteem needs Social needs Safety needs
Self-actualization needs
Which term refers to looking at merchandise at a traditional store and then purchasing the merchandise online? Wheel-of-retailing Off-price retailing Pop-up showing Showrooming wholesaling
Showrooming
Advertising campaigns involving issues ranging from health care, education, and environmental sustainability to human rights and personal safety can be classified under _____. Social marketing Person marketing Corporate image marketing Place marketing Internal marketing
Social Marketing
_____ is a person's pattern of living as expressed in his/her psychograph, and it include the individual's activities, interest, and opinions. Culture Personality Lifestyle Motive Social class
Social class
A market segment that is large or profitable enough to serve is _____. Accessible Differentiable Substantial Measurable Profitable
Substantial
A company's total marketing communications mix consists of a special blend of advertising, sales promotion, public relations, personal selling, and direct- marketing tools that the company uses to communicate customer value and build customer relationships. Which of the following terms best describes this communication mix? Horizontal diversification The product mix The price mix Product line filling The promotion mix
The promotion mix
which of the following is true with regard to cash cows? A) They are high-growth, high-share businesses or products. B) They do not promise to be large sources of cash C) They are low-share businesses and products. D They require significant cash to maintain market share.
They can be used to help finance the company's question marks and stars.
which of the is the objective of causal research? A) To describe things, such as the market potential for a product B) To gather preliminary information that will help suggest hypotheses C) To predict the effect of a random event on unrelated entities D) To test hypotheses about cause-and-effect relationships E) To assign a cause to a seemingly random event
To test hypotheses about cause-and-effect relationships
Which of the following statements is true regarding today's marketing communications? More marketers are shifting away from narrowly defined micromarketers and moving toward mass marketing Today's consumers are better informed about product and services. More customers have started relying on marketer-supplied information rather than finding out information on their own. Focused marketing programs which are designed to build closer relationships with customers in more narrowly defined micro markets are no longer used by marketers Network television, magazines, newspapers, and other traditional mass media continue to increase their dominance
Today's consumers are better informed about product and services.
Which of the following is the most likely circumstance for a company to decide to do little or no test marketing? When management lacks confidence in the marketing strategy When the new product requires a major investment When the product has no substitutes and is new in its category When the costs of developing and introducing the product are low When management lack confidence in the new product
When the costs of developing and introducing the product are low
Market segments that can be effectively reached and served are _______. measurable substantial accessible profitable actionable
accessible
SEO, also known as Search Engine Optimization, refers to those efforts that seek to place a website/website page higher in search engine results. Create mathematical models that describe the relationship between a website and competitive search engine. Find lost search engines Optimize PPC, or pay-per-click advertising
place a website/website page higher in search engine results.
