Marketing 310 bloomsburg final prep

Specialty product purchases are usually considered a ________ involvement decision.

High

The new product development process usually starts with ________.

Idea Generation

Which of the following steps of the new product development process would most likely use an R-W-W framework?

Idea Screening

Becca wants to buy a new coat. She asks her friends to recommend a store and/or a style of coat. She looks for sale advertisements for coats in newspapers and also visits nearby stores to check if she can find something in her budget. In this case, Becca is most likely in the ________ stage of the buyer decision process.

Information Search

Which of the following is most likely a benefit of joint ownership?

It allows a firm to gain the financial and managerial resources that it may otherwise lack.

Which of the following is true of a good marketing information system?

It balances the information that a firm wishes to have with the information a firm actually needs.

Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization.

Macroenviroment

________ is the stage where a product and its proposed marketing program are introduced into realistic market settings.

Test Marketing

Consumer products that the buyer either does not know about or knows about but does not normally consider buying are referred to as ________ products.

Unsought

A ________ is made up of a company, its suppliers, distributors, and, ultimately, customers who "partner" with each other to improve the performance of the entire system.

Value delivery network

As discussed in the textbook and in class, ________ are the form human needs take as they are shaped by culture, individual personality, and possibly situational factors.

Wants

Which of the following would be considered part of an augmented product rather than that of an actual product or core customer value?

Warranty

Service inseparability means that _____________.

Whether provided by people or machines, services are consumed when produced

________ includes all the activities involved in selling goods and services to those buying them for resale or business use.

Wholesaling

Which of the following cases is an example of a firm employing multichannel marketing?

Wingate Retail sells its products through e-tailers and hundreds of physical superstores.

Which of the following is an example of a firm utilizing public relations as a promotion tool?

a firm providing interesting information about a product to the news media

Critics charge that high advertising and promotion costs unnecessarily increase retail prices. Marketers most likely respond to this criticism by arguing that advertising ________.

adds value by giving consumers product information

Needs

are defined as states of felt deprivation

A value-based pricing strategy most likely begins with ________.

assessing customer needs

In which of the following stages of the adoption process does a consumer consider whether trying a new product makes sense?

Evaluation

Which types of stores are characterized by specialty goods for which customers need assistance and higher operating costs that are passed along to customers as higher prices?

Full Service Stores

A company's mission statement should most likely be ________.

defined in terms of satisfying basic customer needs

Which of the following is a function of an integrated marketing communications system?

delivering a consistent message on the product to each brand contact

The two major citizen action movements to keep businesses in line are ________.

environmentalism and consumerism

Selective distribution is a strategy in which ________.

more than one but fewer than all willing intermediaries are used by a seller

Deceptive promotion overstates a product's features or ________.

performance

The primary objective of ________ advertising is to build selective demand.

persuasive

Some companies allegedly intentionally manufacture their products with materials or components that will break, wear, rust, or rot sooner than they should. This practice is called ________.

planned obsolescence

Regardless of how companies go about pricing their products, their foreign prices probably will be higher than their domestic prices for comparable products. This is known as the ________ problem.

price escalation

Voorhees' Farms raises chickens. For years, it has used wooden coops for hauling its poultry to market. When the owner, Jason Voorhees, went to reuse some of his coops, he noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced. Which stage of the business buying process was Voorhees in when he decided to replace his old coops?

problem recognition

An emerging economy is one which ________.

rapid growth of manufacturing

In a straight rebuy, a buyer ________.

reorders something without any modifications

Sales promotions targeted at ________ are called trade promotions.

retailers and wholesalers

In a marketing communications mix, ________ refers to any short-term incentives to encourage the purchase of a product or service.

sales promotion

The primary purpose of innovative marketing most likely involves ________.

seeking real product and marketing improvements

Which of the following demonstrates the real value of a company's marketing research and information system

the quality of customer insights it provides

Which of the following is part of the microenvironment of a firm's marketing environment?

the suppliers who work with the company

Which of the following statements is true of a product sales-force structure?

A product sales-force structure is characterized by specialization along product lines.

Which of the following is an example of ethnographic research?

A researcher at Louis Inc. visits customers' homes to observe their daily routines.

Which of the following is most likely a difference between advertising and sales promotions?

Advertising is an invitation to buy the product, while a sales promotion is an incentive to buy the product immediately.

________ is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.

Advertising

Which of the following is a direct digital marketing tool?

Blog

________ involves a review of the sales, costs, and profit projections for a new product to find out whether they satisfy a company's objectives.

Business Analysis

When using the Boston Consulting Group growth/share matrix for portfolio analysis, ________ refer to low-growth, high-share businesses or products.

Cash Cows

________ is a discomfort caused by postpurchase conflict.

Cognitive Dissonance

________ products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.

Convenience

A company designs what it considers to be a good product, calculates the expenses of making the product, and sets a price that adds a standard markup to the cost of the product. This approach to pricing is called ________ pricing.

Cost plus

Which of the following sets the upper limit for a product's pricing?

Customer Perceptions of value

A company's external sources of new product ideas include its ________.

Customers

Which type of consumer purchase decision is typically made at the point of purchase?

Low Involvement

Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a(n) ________.

Demand

________ factors are the most widely used bases for segmenting customer groups.

Demographic

The purpose of a quota is to ________.

Protect local employment

The process in which printed catalogs, brochures, samples, and DVDs are distributed to customers using highly selective mailing lists is known as ________.

Direct Mail Marketing

________ consists of connecting directly with carefully targeted consumers, often on a one-to-one, interactive basis.

Direct Marketing

Which of the following is an advantage of direct investment?

Direct investment allows a firm to keep full control over the investment.

A marketing firm has been assigned the task of watching trends in personal income, savings, and interest rates. The marketing firm is most likely gathering information about consumers' ________.

Economic Situations

________ pricing involves charging a constant low price with few or no temporary price discounts.

Everyday Low

Expanding a product line by adding more items within the present range of the line is known as product line ________.

Filling

Which technique is used by firms to deliver a unified and consistent image about their organizations and brands to consumers?

Integrated Marketing Communications

________ distribution is a product distribution strategy that involves stocking a product in as many outlets as possible.

Intensive

Orienting and motivating customer-contact employees and supporting service people to work as a team to provide customer satisfaction is known as ________ marketing.

Internal

Which of the following is true of a conventional distribution channel?

It has each channel member acting as a separate business unit trying to maximize its own profits.

Which of the following is a disadvantage of standardization of advertising messages?

It is less responsive to local market needs.

Which of the following is true of viral marketing?

It is the digital version of word-of-mouth marketing.

Which of the following is true of personal selling?

It is the most expensive promotional tool for companies to utilize.

________ is a method of entering a foreign market by associating with foreign companies to produce or market products or services.

Joint venturing

Marketing the same product to a huge customer base without any customization is referred to as ________.

Mass marketing

________ marketing features marketing messages, promotions, and other content delivered to on-the-go consumers through their portable electronic devices.

Mobile

In a promotion mix, ________ performs the functions of building a good rapport with entities outside the company, building up a good corporate image, and handling unfavorable rumors and events.

Public Relations

Which type of retailer typically carries deep product assortments of narrow product lines?

Specialty stores

The depth of the product mix refers to the ________.

Number of versions offfered for each product in the line

Which of the following is a quantitative Internet-based research approach?

Online Survey

________ might appear anywhere on an Internet user's screen when a user is browsing through an article and are often related to the information being viewed.

Online display ads

________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert social influence on others.

Opinion Leaders

________ refers to the unique psychological characteristics that distinguish a person or group.

Personality

________ 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

_______ is the only element in the marketing mix that produces revenue.

Price

What is the first step in the selling process?

Prospecting

When major chain retailers avoid placing stores in disadvantaged neighborhoods, they are accused of the discriminatory practice of ________.

Redlining

________ refers to the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use.

Retailing

________ are the standards stating the amount salespersons should sell and how sales should be divided among the company's products.

Sales quotas

Which of the following needs in Maslow's hierarchy is generally satisfied last?

Self Actualization Needs

Which of the following is a pure tangible good?

Shampoo

Checking out products in traditional stores and then purchasing them online is referred to as ________.

Showrooming

Which of the following is a disadvantage of using social media tools for selling?

Social media tools can intimidate low-tech sales people or clients.

When a market segment is large or profitable enough to serve, it is termed ________.

Substantial

What is the purpose of a sales manager using a time-and-duty analysis?

Supervising salespeople

________ marketing is defined as meeting the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Sustainable

A tax on an imported product designed to raise revenue or protect domestic firms is referred to as a(n) ________.

Tariff

Which of the following is a disadvantage of licensing?

The licensor potentially creates a competitor in the form of the licensee.

Which of the following is a characteristic of an inside sales force?

They conduct business from an office via telephone.

Which of the following is true of downstream channels in a company's supply chain?

They form an intermediary link between the company and its customers.

Which of the following statements is true of consumer promotions?

They include a wide range of tools like samples, coupons, and refunds.

Which of the following is an advantage of a territorial sales-force structure?

Travel expenses are relatively small.

A company should avoid using high-pressure selling if it wants to ________.

build long-term relationships with customers

Which of the following is a traditional direct marketing tool?

catalog

Kelstone Developers is planning to build a new shopping mall that would require the partial acquisition of a nearby public park. Walking Green, an environmental group, challenges the plan citing environmental destruction. In response to the demands of Walking Green, Kelstone Developers promises to build a huge park-like walkway around the mall. Walking Green is an example of a(n) ________ in this scenario.

citizen-action public

Promoting the use of sustainable ingredients, recycling and reducing solid wastes, and managing energy consumption relate to the consumer's right to ________.

consume now in a way that will preserve the world for future generations

Which of the following is a transaction site?

ebay

The simplest way to enter a foreign market is through ________.

exporting

Lemony Inc. sells its popular bottled lemonade-the company's only product-in various geographic locations through tie-ups and agreements with retailers. Each location is represented by two salespersons, one of whom serves current customers while the other finds new ones. Which of the following sales-force structures has most likely been combined to form the complex sales-force structure at Lemony Inc.?

market and territorial

Which of the following is the right order of the steps that companies generally follow in designing a customer-driven marketing strategy?

market segmentation, market targeting, differentiation, and positioning

________ is the process of evaluating the attractiveness of different market segments and selecting one or more segments to enter.

marketing Targeting

Traxx is a newly emerging shoe manufacturing company. After extensive market research, Traxx divides its market into professional athletes, "hobbyists" or amateur players, and people who wear shoes as part of their casual attire. Each category has its own needs, traits, and marketing goals. In this scenario, Traxx has engaged in market ________.

segmentation

A refrigerator is an example of a(n) ________ product.

shopping

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. The CEO stresses that the new mission statement should be market-oriented rather than product-oriented. Which of the following mission statements will best suit the company?

to give customers the complexion they dream about by providing products suited to their needs

Critics who assert that the marketing system promotes too much interest in material possessions are most likely concerned that the result of successful marketing will be ________.

unsustainable overconsumption

The growth of the Internet caused many traditional companies to ________ in response to customer demands and a changing marketplace.

use multichannel marketing

Compared to adapted global marketing, standardized global marketing ________.

uses the same marketing mix worldwide