Marketing Exam 3

Which of the following SERVQUAL dimensions refers to the degree to which the service provider genuinely cares about customers and takes the customer perspective into account when delivering​ service? A. Tangibles B. Responsiveness C. Reliability D. Empathy

Empathy

Which of the following refers to the process of translating an idea into a form of communication that will convey​ meaning? A. Medium B. Message C. Receiver D. Encoding

Encoding

​________ refers to efforts that go into​ selling, such as the number and type of sales​ calls, expense account​ management, and a variety of​ non-selling activities, such as customer​ follow-up work and client service. A. Preapproach B. Output measure C. Input measure D. Close

Input measure

Which of the following refers to the characteristic of a service that means that it is impossible to separate the production of a service from the consumption of that​ service? A. Perishability B. Capacity management C. Inseparability D. Intangibility

Inseperability

​________ is a strategic business process that marketers use to​ plan, develop,​ execute, and evaluate​ coordinated, measurable, persuasive brand communication programs over time to targeted audiences. A. Integrated marketing communication​ (IMC) B. ​Word-of-mouth communication C. Communication model D. Multichannel promotional strategy

Integrated marketing communication

Which of the following logistics functions refers to a series of activities that occurs between the time an order comes into the organization and the time a product goes out the​ door? A. Order processing B. Warehousing C. Materials handling D. Distribution center

Order Processing

Which of the following refers to a type of technology that has led to an evolution in retailing by collecting sales data and is hooked directly into the​ store's inventory-control​ system? A. ​Point-of-sale (POS) system B. Experiential shopper C. Perpetual inventory unit control system D. Wheel-of-retailing hypothesis

POS

Which of the following utilizes a sales technique in which a company representative known as a​ consultant, distributor, or advisor makes a sales presentation to a group of people who have gathered in the home of a​ friend? A. Pyramid scheme B. Party plan system C. Virtual experiential marketing​ (VEM) D. Business-to-consumer (B2C)​ e-commerce

Party Plan

​________ occurs when a company tries to move its products through the channel by convincing channel members to offer them. A. Push strategy B. AIDA model C. Pull strategy D. Bottom-up budgeting techniques

Push strategy

Which of the following involves an illegal sales technique that promises consumers or investors large profits from recruiting others to join the program rather than from any real investment or sale of goods to the​ public? A. Virtual experiential marketing​ (VEM) B. Pyramid scheme C. Network marketing D. Business-to-consumer (B2C)​ e-commerce

Pyramid scheme

Which of the following sales promotions allows the customer to recover part of the​ product's cost from the​ manufacturer? A. Trade promotions B. Rebates C. Frequency programs D. Premiums

Rebates

Which of the following refers to a consumer practice of purchasing a product with the intent to return the nondefective merchandise for a refund after it has fulfilled the purpose for which it was​ purchased? A. Retailtainment B. Retail borrowing C. Shrinkage D. Experiential shoppers

Retail Borrowing

Which of the following refers to the management of flows among firms to maximize total​ profitability? A. Logistics B. Supply chain C. Physical distribution D. Supply chain management

SCM

​________ is suitable for most shopping​ products, such as household appliances and electronic equipment for which consumers are willing to spend time visiting different retail outlets to compare alternatives. A. Selective distribution B. Exclusive distribution C. Intensive distribution D. Franchise organization

Selective Distribution

​________ is the actual physical facility where the service is​ performed, delivered, and consumed. A. Disintermediation B. Servicescape C. Variability D. Service encounter

Servicescape

Which of the following is an advantage of rack​ jobbers? A. They are used by most​ small- to​ medium-sized firms B. They facilitate transactions for bulky products C. They ensure perishable items are delivered and sold efficiently E. They provide merchandising services to retailers

They provide merchandising services to retailers

Which of the following situations would be a poor use of personal​ selling? A. When there is a need for personal touch B. When the goods or services are complex or expensive C. When a firm needs to use a push strategy D. When the dollar amount of individual purchases is low

When the dollar amount of individual purchases is low

A​ ________ refers to a very large specialty​ store, like Home​ Depot, that carries a vast selection of products in its category. A. factory outlet store B. department store C. variety store D. category killer

category killer

Which of the following refers to a sales promotion where the manufacturer and the retailer share the​ cost? A. Frequency programs B. Co-op advertising C. Merchandising allowance D. Point-of-purchase (POP) displays

co op advertising

A(n) ​________ provides at most one or more specialized​ services, such as media buying or creative development. A. advertising campaign B. creative services team C. ​limited-service agency D. ​full-service agency

limited service agency

​A(n) ________ is a sales support person with a high level of technical expertise who assists in product demonstrations. A. missionary salesperson B. new-business salesperson C. order taker D. technical specialist

technical specialist

________ is the third step in the target marketing process. In this​ step, marketers develop a marketing mix that will create a competitive advantage in the minds of the selected target market. A. Positioning B. Targeting C. Segmentation D. Market fragmentation

positioning

​________ are food stores that have a limited selection of​ items, few brands per​ item, and few refrigerated items. A. Category killers B. Box stores C. Hypermarkets D. Factory outlet stores

Box stores

A firm that establishes its budget by spending as much as its biggest competitor is using which method of​ budgeting? A. ​All-you-can afford B. Competitive-parity C. ​Top-down budgeting D. Percentage-of-sales

Competitive parity

A marketer utilizing the hierarchy of effects would use which of the following promotional efforts to accomplish the purchase​ objective? A. Slogans and jingles B. Product placement C. Contests D. Celebrity endorsements

Contests

Which of the following refers to a​ multiple-level distribution channel in which channel members work independently of one​ another? A. Contractual VMS B. Corporate VMS C. Administered VMS D. Conventional marketing system

Conventional marketing system

Which of the following refers to advertising that promotes the company as a whole instead of a​ firm's individual​ products? A. Institutional advertising B. Product advertising C. Public service advertisements​ (PSAs) D. Corporate advertising

Corporate Advertising

Which of the following refers to a vertical marketing system in which a single firm owns​ manufacturing, wholesaling, and retailing​ operations? A. Retailer cooperative B. Corporate VMS C. Conventional marketing system D. Administered VMS

Corporate VMS

​________ is a vertical marketing system in which a single firm owns​ manufacturing, wholesaling, and retailing operations. A. Conventional marketing system B. Contractual VMS C. Administered VMS D. Corporate VMS

Corporate VMS

​________ refers to a measure used to compare the relative​ cost-effectiveness of different media vehicles that have different exposure rateslong dash—the cost to deliver a message to​ 1,000 people or homes. A. Attitudinal measure B. Gross rating point​ (GRP) C. Unaided recall D. Cost per thousand​ (CPM)

Cost per thousand

Marketing managers have many different options in sales promotions. If a firm uses a certificate for money off on its​ products, often with an expiration​ date, and encourages product​ trial, what tool is being​ used? A. Coupon B. ​Contests/sweepstakes C. Continuity/loyalty programs D. Rebate

Coupon

Which of the following refers to one of the two ways distribution channels create efficiencies by reducing the number of transactions necessary for goods to flow from many different manufacturers to a large number of​ customers? A. Disintermediation​ (of the channel of​ distribution) B. Creating assortments C. Wholesaling intermediaries D. Transportation and storage

Creating Assortments

Buzz has tremendous power for​ marketers, but it also can be problematic in many ways. Which of the following descriptions about buzz is​ inaccurate? A. Messages should not be designed to deceive consumers. B. Brand gap can develop. C. Creating buzz can be an expensive element of the promotional budget. D. It should not be used to direct consumers to be destructive.

Creating buzz can be an expensive element of the promotional budget.

Which one of the following is an element by which the channels of distribution may encounter a slowdown of the movement of goods from the producer to the final​ consumer? A. Providing place utility B. Providing place utility C. Providing important customer services D. Creating larger quantities and smaller assortments

Creating larger quantities and smaller assortments

Which of the following pricing strategies would be used if a firm bases the selling price on an estimate of volume or quantity that it can sell in different markets at different​ prices? A. Trial pricing B. Cost-plus pricing C. Price leadership D. ​Demand-based pricing

Demand based pricing

Utilizing the models of marketing​ communication, which of the following tactics is used in the​ one-to-one model? A. Direct marketing B. Sales promotion C. Advertising D. Buzz building

Direct Marketing

Which of the following is a direct marketing approach that allows the consumer to respond to a message by immediately contacting the provider to ask questions or order the​ product? A. ​Direct-response TV​ (DRTV) B. Telemarketing C. Direct mail D. ​Direct-response advertising

Direct response advertising

Which of the following refers to a process of developing distribution​ objectives, evaluating internal and external environmental influences on​ distribution, and choosing a distribution​ strategy? A. Distribution planning B. Slotting allowance C. Conventional marketing system D. Distribution intensity

Distribution Planning

Which of the following refers to a pricing strategy in which the price can easily be adjusted to meet changes in the​ marketplace? A. Internet price discrimination strategy B. Dynamic pricing C. Freemium strategy D. Online auctions

Dynamic Pricing

________ refer(s) to an online strategy in which the price can easily be adjusted to meet changes in the marketplace. A. Internet price discrimination strategy B. Dynamic pricing C. Online auctions D. Freemium strategy E. Price lining

Dynamic Pricing

​________ means that the seller pays both the cost of loading and the cost of transporting to the​ customer, amounts it includes in the selling price. A. Captive pricing B. Freight absorption pricing C. F.O.B. origin pricing D. F.O.B. delivered pricing

FOB delivered pricing

________ refer(s) to functions of channel intermediaries that make the purchase process easier for customers and manufacturers. A. Risk-taking functions B. Facilitating functions C. Transportation and storage D. Breaking bulk

Facilitating Functions

________ refers to activities after the sale that provides important services to customers. A. Sales B. Approach C. Preapproach D. Follow-up

Follow up

Which of the following is a business strategy in which a product in its most basic version is provided free of charge but the company charges money for upgraded versions of the product with more​ features, greater​ functionality, or greater​ capacity? A.Dynamic pricing B.Internet price discrimination strategy C.Price lining D.Online auctions E.Freemium strategy

Freeminum strategy

​________ refers demand in which changes in price have little or no effect on the amount demanded. A. Inelastic demand B. Break-even point C. Cross-elasticity of demand D. Elastic demand

Inelastic Demand

Which of the following refers to a measure used for comparing the effectiveness of different media vehicleslong dash—average reach​ frequency? A. Unaided recall B. Aided recall C. Attitudinal measures D. Gross rating points​ (GRPs)

Gross rating points​ (GRPs)

________ refers to a social trend in which people use technology to get the things they need from each​ other, rather than from traditional institutions like corporations. A. F-commerce B. Advertising C. Groundswell D. Buzz

Groundswell

When a firm surprises a consumer and inserts promotional content about its product or brand in an unexpected​ place, such as in a​ novel, what is that tactic​ called? A. Special events B. Lobbying C. Writing a press release D. Guerrilla marketing

Guerrilla marketing

Which of the following refers to the marketing activity in which a firm​ "ambushes" consumers with promotional content in places they are not expecting to encounter this kind of​ activity? A. Guerrilla marketing B. Ambient advertising C. Corporate identity D. Sponsorships

Guerrilla marketing

Which of the following is an objective of public​ relations? A. Introducing new products B. Conducting speech writing C. Creating press releases D. Performing guerrilla marketing

Introducing new products

Which of the following refers to an inventory management and purchasing process that manufacturers and resellers use to reduce inventory to very low levels and ensure that deliveries from suppliers arrive only when​ needed? A. Supply chain management B. Inventory control C. Just in time​ (JIT) D. Stock outs

Just In Time

A firm utilizing infomercials to promote its product is attempting to achieve which of the following communication objectives in the hierarchy of effects​ model? A. Knowledge B. Loyalty C. Purchase D. Desire

Knowledge

A Picture Me portrait studio found in a Walmart store is an example of which of the following types of​ retailers? A. Leased departments B. Off-price retailers C. Warehouse clubs D. Department stores

Leased Departments

Which of the following refers to networks that integrate sophisticated GPS technology that enables users to alert friends of their exact whereabouts via their mobile​ phones? A. ​Location-based social networks B. Product review sites C. Social networks D. Virtual worlds

Location based social networks

What is the process of​ designing, managing, and improving the movement of products through the supply chain​ called? A. Just in time​ (JIT) B. Reverse logistics C. Sustainability D.Logistics

Logistics

Which of the following refers to the process of​ designing, managing, and improving the movement of products and includes​ purchasing, manufacturing,​ storage, and​ transport? A. Supply chain management B. Reverse logistics C. Logistics D. Supply chain

Logistics

Some retailers advertise items at very low prices or even below cost and are glad to sell them at that price because they know that once in the​ store, customers might buy other items at regular prices. Marketers call this​ ________. A. surge pricing B. price fixing C. predatory pricing D. loss-leader pricing

Loss leader pricing

Which of the following characteristics favors an exclusive distribution​ strategy? A. Low cost of serving individual customers B. Oriented toward mass markets C. Overlapping market coverage D. Low customer density and service and cooperation as priorities

Low customer density and service and cooperation as priorities

​________ is an element of the vulnerability phase in retailing. A. ​Low-end facilities B. Increased quality merchandise C. Luxurious facilities D. Low margin

Luxurious Facilities

​________ is a direct marketing approach that involves promotional and other​ e-commerce activities transmitted over mobile phones and other mobile​ devices, such as smartphones and personal digital assistants​ (PDAs). A. Telemarketing B. Direct-response TV​ (DRTV) C. Direct mail D. M-commerce

M commerce

​________ are independent salespeople who carry several lines of noncompeting products. They have contractual arrangements with manufacturers that outline their​ territories, selling​ prices, and other specific aspects of the relationship but provide​ little, if​ any, supervision. A. Manufacturers' showrooms B. Commission merchants C. Merchandise brokers D. Manufacturers' agents or​ manufacturers' reps

Manufacturers' agents or​ manufacturers' reps

Which of the following refers to an amount added to the cost of a product to create the price at which a channel member will sell the​ product? A.Markup B. List price or​ manufacturer's suggested retail price​ (MSRP) C. Retailer margin D. Wholesaler margin

Markup

​________ refers to the moving of products​ into, within, and out of warehouses. A. Warehousing B. Transportation C. Distribution center D. Materials handling

Materials Handling

Which of the following refers to the total set of all products offered for sale by a​ retailer, including all product lines sold to all consumer​ groups? A. Merchandise depth B. Merchandise breadth C. Merchandise assortment D. Merchandise mix

Merchandise Mix

In the traditional promotion​ mix, which of the following is a negative effect of​ advertising? A. Might not be an efficient means of communicating with some target​ audiences, because of the high cost to produce and distribute B. Costs more per contact than mass appeals C. Lack of control over the message that is eventually transmitted and no guarantee that the message will ever reach the target D. High cost per contact with customer

Might not be an efficient means of communicating with some target​ audiences, because of the high cost to produce and distribute

​________ is a system in which a master distributor recruits other people to become​ distributors, sells the​ company's product to the​ recruits, and receives a commission on all the merchandise sold by the people recruited. A. ​Business-to-consumer (B2C)​ e-commerce B. Virtual experiential marketing​ (VEM) C. Multilevel marketing D. Pyramid scheme

Multilevel marketing

Which of the following is an illegal pricing strategy in which a company sets a very low price for the purpose of driving competitors out of​ business? A. Loss-leader pricing B. Predatory pricing ​C. Bait-and-switch D. Surge pricing

Predatory Pricing

Which of the following refer to the assignment of​ value, or the amount the consumer must exchange to receive the offering or​ product? A. Total cost B. Prestige products C. Market share D. Price

Price

Pricing, like all elements of the market​ mix, is influenced by a variety of external environmental factors. Which of the following is a factor related to consumers that the marketer needs to consider in setting the​ price? A. The​ firm's competitive environment B. Economic​ trends, such as inflation and recession C. Government regulations D. Price elasticity

Price Elasticity

Knowing that consumers may express emotional or psychological responses to​ prices, marketers need to deal with several psychological factors in setting prices. Which one of the following is an economic influence on​ price? A. Prestige pricing B. Price lines C. Odd-even pricing D. Reference pricing E. Price fixing

Price Fixing

Which of the following occurs when two or more companies conspire to keep prices at a certain​ level? A. Loss-leader pricing B. Predatory pricing C. Price fixing D. Surge pricing

Price Fixing

Which of the following refers to claims made in advertising of product superiority that cannot be proven true or​ untrue? A. Greenwashing B. Puffery C. Crowdsourcing D. Corrective advertising

Puffery

Which of the following is an advantage of​ mail-order wholesalers? A. Facilitate transactions for bulky products B. Provide reasonably priced sales options to small organizational customers C. Provide merchandising services to retailers D. Used by most​ small- to​ medium-sized firms

Provide reasonably priced sales options to small organizational customers

Which of the following refers to a​ retailer, like Things​ Remembered, that carries only a few product lines but offers a good selection within the lines that it​ sells? A. Hypermarket B. Factory outlet store C. Category killer D. Specialty store

Specialty Store

In which step of the price planning process does a firm analyze the​ economy, competition, government​ regulations, consumer​ trends, and the internal​ environment? A. Step 4 B.Step 5 C. Step 1 D. Step 3 E. Step 2

Step 4

Which of the following refers to an allocation of the promotion budget based on​ management's determination of the total amount to be devoted to marketing​ communication? A. Percentage-of-sales method B. ​Competitive-parity method C. Bottom-up budgeting techniques D. Top-down budgeting technique

Top down budgeting technique

________ is/are usually set percentage discounts off the suggested retail or list price for each channel level. A. Quantity discounts B. Cash discounts C. Price bundling D. Trade discounts

Trade Discounts

Which of the following utilizes many manufacturers to showcase their products to​ attendees? A. Trade shows B. ​Co-op advertising C. Trade promotions D. Point-of-purchase (POP) displays

Trade shows

Which of the following refers to an online marketing strategy that uses enhancements including​ colors, graphics, layout and​ design, interactive​ videos, contests,​ games, and giveaways to engage experiential shoppers​ online? A. ​Business-to-consumer (B2C)​ e-commerce B. Pyramid scheme C. Network marketing D. Virtual experiential marketing​ (VEM)

VEM

Which of the following explains how retail firms change and become more upscale as they go through their life​ cycle? A. A perpetual inventory unit control system B. An automatic reordering system C. Wheel-of-retailing hypothesis D. A​ point-of-sale (POS) system

Wheel-of-retailing hypothesis

Which of the following pricing strategies is heavily used by hospitality companies like​ airlines, hotels, and cruise lines because these businesses charge different prices to different customers in order to manage capacity while they maximize​ revenues? A. Price leadership B. ​Cost-plus pricing C. Demand-based pricing D. Trial pricing E. Yield management pricing

Yield management pricing