Marketing 343
In which of the following does a producer direct marketing activities (primarily personal selling and trade promotion) toward channel members?
A push strategy
A variation of break-even pricing is ____________________, which uses the concept of a break-even chart that shows the total cost and total revenue expected at different sales volume levels.
.Target return pricing
_______________________ is an example of horizontal channel conflict.
A Subaru dealer complaining that another Subaru dealer is advertising in its territory
What potential risk do marketers incur by using richer but more fragmented media and promotional mixes?
A communications hodgepodge for consumers
The four elements of a compensation plan for salespeople are __________.
A fixed amount, a variable amount, expenses, and fringe benefits
At which step in the personal selling process does a salesperson meet the customer for the first time?
Approach
Which of the following describes layers of intermediaries performing some of the work to bring the product and its ownership closer to the final buyer?
Channel levels
Which of the following represents the four major classifications of retail organizations?
Corporate chains, voluntary chains, retailer cooperatives, and franchise organizations
Which of the following types of marketing calls for building long-run consumer engagement, loyalty, and relationships?
Customer value marketing
Which of the following refers to setting prices based on buyers' perception of value rather than on the seller's cost?
Customer value-based pricing
A form of television marketing which persuasively describes a product and give customers a toll-free number or an online site for ordering is known as _________________.
DRTV marketing
Working with donors or members of nonprofit organizations to gain financial or volunteer support represents which public relations function?
Development
Companies such as Breitling watches and Pandora charm bracelets use which of the following types of distribution strategy?
Exclusive
Companies manage their international marketing activities in at least three different ways. Which of the following is the last step in their organizational activities?
Global organization
Sadie's Restaurant has listened to its customers over the years and is now able to offer the right combination of quality and good service at a fair price. Which pricing strategy is Sadie's using?
Good-value pricing
________ economies are major exporters of manufactured goods, services, and investment funds.
Industrial
____________ is perhaps the toughest public policy issue now confronting the direct marketing industry.
Invasion of privacy
Marketers that wish to enter an international environment have to consider the political-legal environment. Of the following, which is NOT among the factors marketers should consider within the political-legal environment?
Investment opportunities
_________________________ eliminated trade barriers and investment restrictions among three large global countries while establishing a single market of 487 million people who produce and consume over $23 trillion of goods and services annually.
NAFTA
Which of the following represent the newer tools of digital direct marketing?
Online marketing, social media marketing, and mobile marketing
Which of the following represents a new trend in logistics to save costs, increase efficiencies, and gain faster and more effective access to global markets?
Outsourcing logistics functions
In the whole-channel concept for international marketing, which of the following is NOT a global value delivery network?
Price escalation
Which of the following makes up the retail marketing mix?
Product and services assortment, price, promotion, and location
Before making a decision to operate in other countries, what must a company understand?
The international marketing environment
Which of the following indicates the length of a channel?
The number of intermediary levels in the channel
Which of the following is TRUE regarding omni-channel buyers?
They shift easily across online and in-store channels.
Internal factors that affect pricing include _________________.
The company's overall marketing strategy, objectives, and marketing mix
After recruiting and selecting salespeople, what is the next major step in sales force management?
Training salespeople
Which of the following replaced GATT in 1995, imposes international trade sanctions, and mediates global trade disputes?
WTO
Which of the following statements about wholesaling is true?
Wholesalers must make decisions regarding their marketing mix.
What event or circumstance has made mobile marketing a must for most brands?
Widespread adoption of mobile devices
________________________ is one major objective associated with a market-penetration pricing strategy
Winning large market share
Roshika has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she does not know much about wine, she will likely use the price of the wines as ________.
an indicator of quality
Through sustainable marketing, both businesses and consumers ___________________.
are both called to more responsible actions
According to the sustainable marketing concept, a company's marketing objectives should support the ___________________________.
best long-run performance of the marketing system
In the whole-channel view of distribution, the second link, _________, moves products from their market entry points to the final consumers.
channels within nations
Marketers now have a richer mix of media and content approaches with consumers being bombarded by many brand messages. The result is that _________________________.
consumers don't distinguish between content sources the way marketers do.
Sherwin-Williams sells its paint and other branded products exclusively through company-owned retail stores. Sherwin-Williams has established a(n) _________.
corporate VMS
Practices such as misrepresenting the product's features or performance or luring customers to the store for a bargain that is out of stock are considered ____________________.
deceptive promotion
The first decision a manager must make in sales force management is _______________.
designing sales force strategy and structure
Catalogs, online and social media, and mobile marketing are some of the specific promotional tools used in _________________________.
direct and digital marketing
When, if ever, is price discrimination allowed?
f the seller can prove that its costs are different when selling to different retailers, then it is legal.
FancyFace, a cosmetics firm located in the United States, markets its products in Asian and European countries through independent distributors. In this case, FancyFace has entered international markets through ________.
indirect exporting
When a college or university charges more for out-of-state students than in-state students, it is practicing ______________________.
location-based pricing
The massive shift in how and where people buy calls for __________________________.
massive shifts in how store retailers operate
A blog is a(n) ______.
online forum
When Apple introduced its iPhone X, it priced the new product at nearly $1,000, considerably higher than competing smart phones. Apple was pursuing a ___________________ new product pricing strategy.
premium pricing
One consumer promotion tool is _______, which are goods offered either free or at low cost as an incentive to buy a product.
premiums
When sellers set prices in conjunction or collaboration with one another, this illegal practice is known as _______________.
price-fixing
GE Healthcare employs different sales forces for diagnostic imaging, life sciences, and integrated IT products and services. GE Healthcare has adopted a ______ sales force structure.
product
Bath & Body Works uses _____________ pricing when the company offers "three-fer" deals on its products (such as soaps, lotions, and moisturizers).
product bundle
The Ford Mustang is offered in several different models. Ford uses __________ pricing to determine the price steps between the different models.
product line
When a retailer temporarily prices a few select items below cost to create excitement and pull consumers into the store, it is practicing ___________________ pricing.
promotional
Press releases, sponsorships, events, and web pages are promotional tools used in _____________.
public relations
By performing the channel function of ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost.
selling and promoting
Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale is known as ______________________.
shopper marketing
One challenge of social media marketing is _____________________
social networks are largely user-controlled
The fastest-growing sales trend today is ______________.
social selling
More than a territory, compensation, and training, new salespeople need ________________.
supervision and motivation
Which of the following reverses the usual process of first designing a new product, determining its cost, and then asking, "Can we sell it for that?"
target costing
When setting marketing channel objectives, companies should state the objective in terms of ______.
targeted levels of customer service
When the company has defined its channel objectives, it should next identify its major channel alternatives in terms of the types of intermediaries, the number of intermediaries, and __________________.
the responsibilities of channel members
UPS uses _________________, which charges different prices for shipping depending on an item's destination. The more distant the city where the package is being shipped, the higher the price UPS charges.
zone pricing
________ refers to striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process as well as avoiding deception in product design, pricing, communication, and delivery or distribution.
"Foster trust in the marketing system"
_________________marketing means that the company should define its mission in broad social terms rather than narrow product terms.
Sense-of-mission
New, premium movie theaters offer features such as online reserved seating, high-backed leather executive chairs with armrests and footrests, the latest in digital sound, super-wide screens, and other amenities for which they charge a higher price. This is an example of which type of pricing?
Value-added pricing
The goal of logistics is to provide a targeted level of service at the least or lowest possible cost. To achieve this goal, which of the following are logistical functional areas?
Warehousing, inventory management, transportation, and logistics information management
Gillette charges a fairly low price for its razors (relative to costs) and a high price for razor blades. It is using a strategy of ___________ pricing.
captive-product
A company has set a low price on a new product it introduced. It wants to maximize its market share and attract a large number of buyers quickly. Which new product pricing strategy should the company use?
market-penetration pricing
A car buyer can choose a base model at one price, or one with a premium sound and navigation system at a higher price. This is an example of _______ pricing.
optional-product
______ means sending email pitches only to customers who "opt in."
permission-based email marketing
Large retailers like Walmart have enormous channel control due to their size and power. Which type of channel arrangement does this represent?
Administered VMS
What are the two major elements in developing advertising strategy?
Creating advertising messages and selecting advertising media
Which form of marketing involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships?
Direct and digital marketing
_______________________ uses tools that engage directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships.
Direct and digital marketing
Producers of a strong brand sometimes sell it to dealers only if the dealers will take some or all of the rest of its line. This is known as full-line forcing. Which of the following statements is true regarding full-line forcing?
It may or may not be legal.
A discount store (for example, Target, Kohl's, or Walmart) sells standard merchandise at lower prices. To do this, discount stores accept which of the following two conditions?
Lower margins and higher sales volume
__________ products give high immediate satisfaction but might hurt consumers in the long run.
Pleasing
___________________is used to build and maintain national or local community relationships and is one of the functions of public relations.
Public affairs
Which of the following statements about retailer marketing decisions is correct?
Retailers identify three critical factors for retail success: location, location, and location.
Which of the following does NOT represent one of the major trends and developments in retailing?
Social e-tailing
Which of the following is a type of marketing that calls for meeting the present needs of consumers and businesses while preserving or enhancing the ability of future generations to meet their needs?
Sustainable marketing
What characteristics are possessed by the best salespeople?
The best salespeople are the ones who work closely with customers for mutual gain.
Which of the following statements about public relations is correct?
The lines between advertising and public relations are becoming more blurred.
Which of the following states that managers must look beyond what is legal and allowable and develop standards based on personal integrity, corporate conscience, and long-term consumer welfare?
The sustainable marketing concept
Which of the following accurately represents the three characteristics of advertising appeals?
To be meaningful, to be believable, and to be distinctive
Progressive wholesalers recognize that their only reason for existing is to ____________________.
add value
According to the principle of ________ marketing, the company should put most of its resources into customer value-building marketing investments.
customer value
What is the final step in the seven-step personal selling process?
Follow-up
Which of the following statements about blogs is correct?
Blogs can be difficult for the company to control.
If the company has selected its target market and positioning carefully, then its marketing mix strategy, including price, will be fairly straightforward. Of the following, which is NOT one of the common pricing objectives?
Grabbing international market share
Which consumer promotion tool is like coupons, except that the price reduction occurs after the purchase rather than at the retail outlet?
Rebates
After segmenting and defining their target markets, retailers must then ____________________.
decide how they will differentiate and position themselves
The purpose of a tariff is to _______________________.
force favorable trade behaviors
Geico's website is designed to quickly turn an inquiry into a sale. Geico has designed a(n) ______ website.
marketing
The benefits of direct and digital marketing for buyers are that they are _________.
easy, convenient, and private
The seven-step selling process takes a __________ approach to selling. In other words, its aim is to help salespeople close a specific sale with a customer.
transaction-oriented
_____________________ direct(s) its marketing activities (primarily advertising, consumer promotion, and direct and digital media) toward final consumers to induce them to buy the product.
A pull strategy
Channels often involve long-term commitments, and companies have many alternatives. What type of criteria should be used if the company wants to keep the channel flexible so that it can respond to environmental changes?
Adaptability criteria
Which of the following are used to generate business leads, stimulate purchases, reward customers, and motivate salespeople?
Business promotions
Criticism has been leveled at marketing for negative impact on other businesses. Of the following, which does NOT fall within those criticisms?
Creating false wants and too much materialism
Advertising decisions involve multiple steps culminating in the measurement of the sales effects of advertising or brand content. Which of the following considers return on investment?
Evaluation
_____________________ is a retailing technique of carefully orchestrating the store's layout and displays, background music, colors, and smells.
Experiential retailing
______________________ is the simplest way to enter a foreign market.
Exporting
In which of the following is vertical conflict, conflict between different levels of the same channel, common?
Franchise organizations
_________________________ are the objectives of trade promotions.
Getting retailers to carry new items and more inventory, buy ahead, or promote the company's products and give them more shelf space
Which of the following is true regarding the price-demand relationship?
If demand is elastic, sellers will consider lowering their prices.
Which of the following recognizes that improved logistics mandates teamwork across the company and the entire supply chain?
Integrated supply chain management
Which of the following types of wholesalers are Independently owned businesses that take title to all merchandise handled?
Merchant wholesalers
Which of the following is correct regarding the forms of direct and digital marketing?
New digital and the more traditional forms of direct marketing must be blended and integrated
_________ include biases against a company's bids, restrictive product standards, or excessive host-country regulations or enforcement.
Nontariff trade barriers
________ is when a company adds the cost of transportation, tariffs, importer margin, wholesaler margin, and retailer margin to its product's factory price.
Price escalation
Retailers must decide on which three major product variables?
Product assortment, services mix, and store atmosphere
Which advertising objective is best suited to maintaining customer relationships and for more mature products?
Reminder
Which of the following retail trends is making differentiation more difficult?
Retail convergence
Which of the following describes the activities that play an important role in connecting brands to consumers in the final phases of the buying process?
Retailing
What is the goal of advertising?
To help move consumers through the buying process
In place of traditional media, marketers are using __________________________ to engage smaller customer segments with more personalized, interactive content.
a broad selection of more specialized and highly targeted media
The primary purpose of _________ websites is to do more than just sell products or move them closer to a direct purchase.
brand community
Best Buy, Home Depot, Petco, and Bed Bath & Beyond, which are actually giant specialty stores characterized by immense size and deep assortments of merchandise, are sometimes called _______________.
category killers
Continually adjusting prices to meet the characteristics and needs of individual customers and situations is known as _______________________.
dynamic pricing
Many companies get involved in several international markets and ventures. They can be __________, with country managers who are responsible for salespeople, sales branches, distributors, and licensees in their respective countries.
geographical organizations
After the presentation and demonstration step in the sales process, a salesperson should next be prepared to _______.
handle objections
Which of the following is used to engage customers anywhere, anytime during the buying and relationship-building processes?
mobile marketing
The Robinson-Patman Act seeks to ensure that sellers offer the same price terms to customers at a given level of trade to prevent ______________________.
price discrimination
________ marketing means that the company should view and organize its marketing activities from the consumer's point of view.
Consumer-oriented
________ involves sending an offer, announcement, reminder, or other item to a person at a particular address.
Direct-mail marketing
Which of the following are common trade promotion tools?
Discounts, free goods, allowances, and free advertising specialty items
It's time for the Super Bowl, and the end-of-the-aisle displays at the supermarket feature chips, dips, and soft drinks. What type of sales promotion tool is this?
Point-of-purchase
Companies today see channel members as ______________ and practice strong partner relationship management.
first-line partners
________ includes practices such as falsely advertising "factory" or "wholesale" prices or a large price reduction from a phony high retail list price.
Deceptive pricing
What is the overall goal when retailers choose their product assortment?
Differentiate the retailer while matching target shoppers' expectations
____________________ is perhaps the biggest advantage of social media.
Engagement and social sharing capabilities
The Great Recession of 2008-2009 had a profound effect on the economy and consumers. Of the following, which represents one of the major consumer trends resulting from the Great Recession?
It turned free-spending consumers into value-seeking ones.
Marketers operating in international environments must study and understand each country's economy. Which of the following are the primary economic factors that reflect a country's attractiveness as a market?
Its industrial structure and income distribution
Which of the following is a form of traditional direct marketing?
Kiosk marketing
Many vital and key functions are performed by marketing channels. Of the following, which is NOT one of those key functions?
Manufacturing and assembly
Which of the following is a reason that producers use marketing channels and channel intermediaries?
Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.
Which of the following statements is TRUE about public relations and a company's overall integrated marketing communications efforts?
PR should be blended smoothly with promotion activities.
Which of the following uses promotional tools such as presentations, trade shows, and incentive programs to engage customers, make sales, and build customer relationships?
Personal selling
___________________ advertising is the type of advertising objective used when attempting to build brand preference and prompting customers to purchase now.
Persuasive
Of the following, which is true about pricing?
Price competition is a core element of our free-market economy.
__________________ are limits countries can set on the amount of foreign imports that they will accept in certain product categories.
Quotas
Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of media?
Social shopping retailing
In which of the following does top management tell its marketing people, "Take the product as is and find customers for it"?
Straight product extension
Which of the following statements about sales promotions is correct?
The heavy use of sales promotions has resulted in promotion clutter.
When a company considers international marketing, which of the following is a fundamental issue within the global environment that it must understand thoroughly from the outset?
The international trade system
Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called "high-low pricing." Which of the following correctly describes high-low pricing?
The retailer charges higher prices on an everyday basis, coupled with frequent sales and other price promotions.
In the whole-channel view of distribution, the first link, ________, move(s) company products from points of production to the borders of countries within which they are sold.
channels between nations
Exaggerating package contents through subtle design, using misleading labeling, or describing size in misleading terms is known as ____________________.
deceptive packaging
The goal of integrated marketing communications is to __________________________________.
deliver clear, consistent, and compelling messages about the organization and its brands
The General Agreement on Tariffs and Trade (GATT) was ____________________.
designed to promote world trade by reducing tariffs and other international trade barriers
The biggest involvement in a foreign market comes through ________ for the development of foreign-based assembly or manufacturing facilities.
direct investment
When a company begins doing business internationally, it generally starts with ____________________, working through independent international marketing intermediaries.
indirect exporting
The goal of a push strategy is to _____________________________.
induce channel members to carry and promote the product
The principle of ________ marketing requires that a company continuously seek real product and marketing improvements.
innovative
Social media are ideal for participating in customer conversations and listening to customer feedback because they are _____________.
interactive
Personal selling can be more effective than advertising in complex selling situations because it is ______________________________.
interpersonal
Many consumers today rent DVDs from a vending machine called Redbox, which can be found in retail stores and other locations. Redbox is type of ________ marketing.
kiosk
Websites, online advertising, email, online video, and blogs are all forms of ______.
online marketing
Consumers may receive an e-mail, supposedly from their bank or credit card company, saying that their account's security has been compromised. The sender asks consumers to log on to a provided Web address and confirm their account and other personal information and then steals this private information. This is a fraudulent practice called ______.
phishing
Most companies today want their salespeople to _______, which means demonstrating and delivering superior customer value and capturing a return on that value that is fair for both the customer and the company.
practice value selling
The difference between the marketing concept and the sustainable marketing concept is that the marketing concept ___________________________.
recognizes that companies thrive by fulfilling the day-to-day needs of customers
Companies embracing environmental sustainability policies develop strategies to implement them. The strategies include which of the following two components?
sustain the environment and produce profits for the company
During the presentation step in the personal selling process, the salesperson ______________.
tells the buyer a "value story"
A(n) _____ consists of producers, wholesalers, and retailers acting as a unified system.
vertical marketing system
As companies become more market-centered, a customer-focused sales force __________________.
works to produce both customer satisfaction and company profit
Which of the following is included in the American Marketing Association's (AMA) Code of Ethics and stresses consciously avoiding harmful actions or omissions by embodying high ethical standards and adhering to all applicable laws and regulations in the choices we make?
Do no harm
Which of the following means striving for building relationships and enhancing consumer confidence in the integrity of marketing by affirming these core values: honesty, responsibility, fairness, respect, transparency, and citizenship?
Embrace ethical values
Which of the following describes an organized movement of concerned citizens, businesses, and government agencies designed to protect and improve people's current and future living environment?
Environmentalism
Which of the following accurately describes a company's efforts to engage customers, persuasively communicate customer value, and build customer relationships?
Marketing mix
Amazon's Alexa speaks Hinglish—a blend of Hindi and English—with an unmistakable Indian accent. She knows Independence Day is August 15, not July 4, and wishes listeners "Happy Diwali and a Prosperous New Year!" What is this an example of?
Product adaptation
Which of the following statements about personal selling is correct?
Salespeople are often the only direct contact with a customer.
________ products have low immediate appeal but might benefit consumers in the long run—for instance, bicycle helmets or some insurance products.
Salutary
A company's marketing should support the five sustainable marketing principles. Of the following, which is NOT among those principles?
Salutary marketing
Which of the following is described as "always on" and is a large component of the digital advertising mix?
Search advertising
Which of the following statements is correct regarding sellers and their use of direct and digital marketing?
Sellers have opportunities to engage in real-time marketing.
Of the following, which most closely describes the method by which companies engage and create benefits for their customers?
Value delivery network
University Boutiques promotes its brand in new international markets by providing rights to local boutiques to use its patented designs and brand name. In this case, University Boutiques' market-entering strategy is referred to as ________.
licensing
One of the primary advantages of marketing logistics is __________________.
potentially high cost savings and improved customer satisfaction
Because of deceptive acts or practices by companies, Congress has enacted legislation designed to protect consumers. Which of the following was enacted to protect consumers against deceptive acts or practices?
Wheeler-Lea Act of 1938
________________________ is the first step in marketing channel design.
Analyzing consumer needs
As an economic community, which of the following contains more than half a billion consumers, accounts for almost 20 percent of the world's imports and exports, and is one of the world's largest single markets?
European Union
Sustainable marketing should be guided by five sustainable marketing principles. Of the following, which is NOT one of those principles?
Strategic marketing
Hotels and motels, banks, airlines, restaurants, colleges, hospitals, movie theaters, tennis clubs, bowling alleys, repair services, hair salons, and dry cleaners are all examples of ________.
service retailers
Justin, Inc., a U.S.-based watch manufacturer, sells its products in China, Russia, France, and India. To manage sales, Justin appoints a number of sales representatives to each location. Justin has adopted a ________ sales force structure.
territorial
The digital version of word-of-mouth marketing that involves creating videos, ads, and other marketing content that is so infectious that customers will seek them out or pass them along to their friends is called _______.
viral marketing
To set its sales force size, a company can first group accounts into different classes according to size, account status, or other factors related to the amount of effort required to maintain the account. It then determines the number of salespeople needed to call on each class of accounts the desired number of times. This is called the ______ approach.
workload
Companies like Amazon and Expedia.com that sell products and services directly to final buyers over the Internet are known as _______.
e-tailers
_______________________ entails managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers.
Supply chain management
The illegal practice of ______________________ is selling below cost with the intention of punishing a competitor or gaining higher long-run profits by putting competitors out of business.
predatory pricing
Which of the statements is TRUE regarding media and message decisions?
Media and message decisions should be closely coordinated.
What does the phrase "omni-channel buying calls for omni-channel retailing" imply for retailers?
Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience.
Marketing logistics addresses not only outbound logistics but also inbound logistics and reverse logistics, which means it ____________________________.
involves the entire supply chain management