Intro to Business Chapters 11-13

Which of the following is a drawback of primary data?

It tends to be expensive.

In the context of the marketing mix, which of the following statements is true of a distribution strategy?

Its key decisions include shipping, warehousing, and selling outlets.

Reginald Inc., a well-known automobile manufacturer, advertised the launch of its new solar powered car, Brandon. There was so much hype about the car in the market that thousands of customers prebooked it. However, after the delivery of the cars, several customers complained that the power windows did not work properly in solar power and that the brakes were not up to the mark. In the context of customer satisfaction, which of the following traps does the scenario illustrate?

Overpromising.

Crystal Corp. is an independent distributor that distributes cosmetics, apparels, shoes, and bags to other business customers on a large scale. It does not take legal title to the goods it distributes. In this scenario, it can be said that Crystal Corp. is a(n) _____.

broker

In the introduction stage of the product life cycle, companies are primarily focused on:

building customer awareness of the product.

Allied Corp. is redesigning its path through which its products reach its consumers. The path involves producers, wholesalers, retailers, and customers. In the given scenario, it can be said that Allied Corp is redesigning its _____.

channel of distribution

Odd pricing refers to the practice of:

ending prices in numbers below even dollars and cents.

The CEO of a software company has a meeting with the product design team to discuss a new software that the company is planning to develop. During the meeting, the CEO discards a few suggestions as executing them would be a costly affair for the company. Given the scenario, the company is most likely in the _____ stage of the new product development process.

idea screening

The fixed cost of Perfect Pizzas, a pizza restaurant, is $400,000 per year. The cost of ingredients and chefs to make one pizza is $6. If the customers would pay $10 to buy one pizza, Perfect Pizzas needs to sell at least _____ pizzas to avoid losses.

100,000

In the context of customer satisfaction, which of the following will happen if a marketer falls into the trap of underpromising?

Fewer customers will try the product.

Which of the following can be achieved my marketers by acquiring customer loyalty?

Acquisition of new customers.

_____ are distribution organizations that facilitate the movement of products from the producer to the consumer.

Channel intermediaries

_____ remain constant regardless of how many products are sold.

Fixed costs

iTem is a retailer that sells a wide range of merchandise to the public through its website. It is evident that iTem is engaged in _____.

e-tailing

_____ tools include premiums, promotional products, samples, coupons, rebates, and displays.

Consumer production

Dustin loves dining at Jolenney, a continental restaurant. Whenever he has friends or family visiting him, he takes them to Jolenny for dinner. He personally gives feedback about the food to the restaurant manager and the chef every time he dines there. In the context of marketing, which of the following concepts does this scenario best illustrate?

Customer loyalty.

Pagpartet is a supermarket that sells good quality products and renders excellent client service. Pagpartet's membership program for regular clients offers good discounts on perishable products. Its popularity and business generally increase through word-of-mouth. Consumers who shop at Pagpartet rarely switch to another supermarket for their monthly grocery shopping. In the context of marketing, which of the following concepts does this scenario best illustrate?

Customer loyalty.

Armoury, a car service station, takes feedback from clients after servicing their cars, which gives the clients a sense of importance. Armoury's management also ensures rectification and improvement of its services based on clients' feedback. Which of the following marketing strategies does this scenario best illustrate?

Customer relationship management

_____ is the ongoing process of acquiring, maintaining, and growing profitable customer associations by delivering unmatched value.

Customer relationship management

Which of the following business product categories refers to large capital purchases made by a company that are designed for a long productive life?

Installations

Which of the following elements is a personal influence on the consumer decision-making process?

Demographics.

Gearjazz, a company that manufactures and sells musical instruments, aims to increase its popularity among music artists and enthusiasts by sponsoring the audio system for the music and arts festival being held in the town of Flavempia. Which of the following marketing strategies does this scenario best illustrate?

Event marketing

Cadilengy, a nonprofit organization, is conducting a food fair in the month of October. The proceeds of this fair will go to charity. The restaurants and good product companies participating in the fair start distributing pamphlets about the fair in their outlets two months before the event. As a result, the fair gained popularity among the public. Which of the following marketing strategies does this scenario best illustrate?

Event marketing.

Norldenp Open is a tennis championship that is conducted every year. By the end of spring, various companies that sponsor the championship start mentioning the championship in their product labels and in their advertisements. Which of the following marketing strategies does this scenario best illustrate?

Event marketing.

Jared Elmer is the presidential candidate of National Ernest Party, a political party. The party's election campaigns have been focusing on projecting Jared's educational qualifications, political background, ancestral glory, etc. Which of the following marketing strategies do the election campaigns illustrate?

People marketing

The state government of the stater of Bompahiam rewards writers who freelance articles about the state tourism. Travel freelancers mostly write about Bompahiam's tourist-friendly people who speak multiple languages, its coral reefs, its efficient and well-connected public transportation system, and its four annual festivals. Which of the following marketing strategies does this scenario best illustrate?

Place marketing.

_____ refers to how well a product performs its core function.

Quality level

_____includes all organizations, processes, and activities involved in the flow of goods from the raw materials to the final consumer.

Supply chain

Lawrence recently bought a new luxury car, but he is not completely satisfied with it. He now wishes he had bought something that would have made a better impression on his colleagues. Lawrence's friend Howard, on the other hand, bought a secondhand sedan and is extremely happy with it. Howard becomes even more proud of his purchase when his friends compliment his car. From the marketing point of view, which of the following concepts has contributed to Howard feeling satisfied with his car?

The perceived value of the car.

_____ involves determining how a product will flow through a channel from the producer to the consumer.

The physical distribution strategy

Debbile, a chain of retail cosmetic shops, offers loyalty cards to its regular customers. The cardholders can earn points and get discounts for the purchases they make at any of the company's stores. In the context of the evolution of marketing, which of the following eras does this scenario most likely refer to?

The relationship era.

Which of the following statements is true of online retailing?

There is a lack of security on the Web.

The physical good or delivered service that provides a core benefit is called the _____.

actual product

A fitness equipment manufacturing company initiates its new product development process. The management, along with the product design team of the company, makes estimated cost budgets for each of the potential products. This is an important part of the process as it helps the management in assessing whether the company can afford the new product. In the context of the given scenario, the company is most likely in the _____stage of the new product development process.

analysis

Perizaad orders a pair of spectacles from an online store. On delivery, she receives a 50 ml bottle of lens cleaning solution along with the spectacles. In this scenario, the bottle of lens cleaning solution is a(n) _____.

augmented product

An advantage of cobranding is that:

both partners leverage their strengths to enter new markets.

Saffexo, a company that manufactures sports goods, hikes the prices of its entire range of athletic shoes. However, the company does not experience a fall in the sales of its shoes following the hike as the consumers continue to buy them. The information given in the scenario indicates that Saffexo has a good _____.

brand equity

My Bonnie Lass, a cosmetics company, associates with a perfume brand called Lonalove to launch a face powder that is scented with one of Lonalove's signature perfumes. This new product becomes immensely popular among consumers and both the companies benefit from it. This scenario is an example of _____.

cobranding

Understanding the _____ begins with analysis of market share.

competitive environment

Granite Inc. is a reputable company that has contributed a lot towards the social welfare of the people. It has also improved working conditions in its overseas factories and has cut its waste emissions by half. To highlight these achievements, the company can publish a(n) _____.

corporate responsibility report

Dominic's Store offers a wide variety of clothes, furniture, cosmetics, and office supplies at a significantly lower prices and provides less service than most department stores. In this scenario, Dominic's Store most likely is a(n) _____.

discount store

Baylaine is a company that sells afforadable, low-end cell phones. Baylaine's customers can register product or service complaints with the company through emails; the company's customer support team replies to customer queries and complaints within five hours of the receipt of an email. In the context of customer relationship management, Baylaine most likely establishes _____ with its customers.

distinct relationships

Bonicidio Inc., a cell phone manufacturer, introduced a new cell phone model. 85 percent of this phone is made from biodegradable materials. This product attracts customers who give importance to using environment-friendly products in their daily lives. In the context of social responsibility and technology, Bonicidio best illustrates _____.

green marketing

Neptune Corp. buys a wide range of products from automobile parts manufacturers, motorcycle riding gear manufacturers, and commercial paint manufacturers. It then sells these products to a wide range of different customers. It is evident that Neptune Corp. is a(n) _____.

independent wholesaling business

Saffexo is a low-cost toiletries producer in the town of Lucitona. It sells its products through almost all the retail stores in the town of Lucitona. In the context of distribution strategies, Saffexo has adopted the strategy of _____.

intensive distribution

Team selling works best for:

large and complex accounts

Kiddiecon, a company that manufactures stationery products for children, signs a contract with an animation studio to use one of its popular cartoon characters as a design on its school bags. Kiddiecon's contract with the animation studio is an example of _____.

liscensing

Demographic segmentation divides the market based on:

measurable characteristics about people

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Saturn Systems, an electronic goods manufacturer, sells its LED bulbs to Shockwave Enterprise, which in turn sells those bulbs to final consumers. In this scenario, Shockwave Enterprise is a _____.

producer

Streetlore, a footwear manufacturing company, makes business and casual shoes for both men and women. The company also makes school bags for children between the ages of five to ten years. The entire line of goods made by Streetlore represents the _____ of the company.

product mix

Vermontz, an automobile company, pays a film studio to include its new sports car in two scenes of its latest action movie. The company feels this would help them gain maximum visibility, and the fans would also develop a positive association with the brand when they will see their favorite actor using the car in the film. Vermontz's business deal with the film studio exemplifies _____.

product placement

In the context of business product categories, the marketing of component parts and processed materials emphasizes:

product quality, price, and service.

In the context of consumer promotion tools, _____ entice consumers with cash-back offers and act as purchase motivators for higher-priced items.

rebates

Austere Realty, a real estate company, ensures that its web page always shows up high among the list of results whenever a user looks for information related to property and housing on the Internet. In this scenario, Austere Realty is actively engaged in _____.

search engine optimization

Joel wants to buy his best friend a home audio system for his birthday. He visits a few electronic stores and looks at different brands of audio systems and compares their prices. He finally purchases a wireless Bluetooth home audio system from a store that offers good quality within a reasonable price. In the context of product classifications, Joel's purchase falls under the category of _____.

shopping products

Jessica, a business tycoon, always buys her jewelry from a retailer. She has been a loyal customer, and she does not trust other brands. This scenario exemplifies the purchase of _____.

specialty products

Merchant wholesalers can develop their own marketing strategies, including pricing strategies, because they:

take legal title to the goods they distribute.

A downside of publicity is that:

the marketer has no control over how the media presents the company or its products.

Blue Legion is a store retailer that sells meat, vegetables, dairy products, baked goods, personal care items, and clothes at a discounted price to its members. It is evident that Blue Legion is a _____.

warehouse club

JEMS Enterprise buys wooden furniture, such as tables and chairs, from a furniture manufacturer and sells them to government schools. In this scenario, JEMS Enterprise is a _____.

wholesaler