Marketing Exam #3
Which of the following are used to generate business leads, stimulate purchases, reward customers, and motivate salespeople?
Business promotions
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
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
Which of the statements is TRUE regarding media and message decisions?
Media and message decisions should be closely coordinated.
Which of the following types of wholesalers are Independently owned businesses that take title to all merchandise handled?
Merchant wholesalers
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
_____________________ software systems enable companies to coordinate their whole-channel marketing efforts.
Partner relationship management
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
Which of the following makes up the retail marketing mix?
Product and services assortment, price, promotion, and location
_________ is the first step in marketing channel design.
Analyzing consumer needs
At which step in the personal selling process does a salesperson meet the customer for the first time?
Approach
Retailers must decide on which three major product variables?
Product assortment, services mix, and store atmosphere
___________________is used to build and maintain national or local community relationships and is one of the functions of public relations.
Public affairs
Which consumer promotion tool is like coupons, except that the price reduction occurs after the purchase rather than at the retail outlet?
Rebates
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
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.
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
Which of the following statements about personal selling is correct?
Salespeople are often the only direct contact with a customer.
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.
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
Which of the following does NOT represent one of the major trends and developments in retailing?
Social e-tailing
_______________________ 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
What characteristics are possessed by the best salespeople?
The best salespeople are the ones who work closely with customers for mutual gain.
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
Sherwin-Williams sells its paint and other branded products exclusively through company-owned retail stores. Sherwin-Williams has established a(n) _____
corporate VMS
After segmenting and defining their target markets, retailers must then ____________________.
decide how they will differentiate and position themselves
The goal of integrated marketing communications is to __________________________________.
deliver clear, consistent, and compelling messages about the organization and its brands
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
After the presentation and demonstration step in the sales process, a salesperson should next be prepared to _______.
handle objections
The goal of a push strategy is to _____________________________.
induce channel members to carry and promote the product
Personal selling can be more effective than advertising in complex selling situations because it is ______________________________.
interpersonal
Marketing logistics addresses not only outbound logistics but also inbound logistics and reverse logistics, which means it ____________________________.
involves the entire supply chain management
The massive shift in how and where people buy calls for __________________________.
massive shifts in how store retailers operate
One of the primary advantages of marketing logistics is __________________.
potentially high cost savings and improved customer satisfaction
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
Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale is known as ______________________.
shopper marketing
The fastest-growing sales trend today is ______________.
social selling
More than a territory, compensation, and training, new salespeople need ________________.
supervision and motivation
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
Large retailers like Walmart have enormous channel control due to their size and power. Which type of channel arrangement does this represent?
Administered VMS
_________________________ 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
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.
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
The benefits of direct and digital marketing for buyers are that they are _________.
easy, convenient, and private
Companies today see channel members as ______________ and practice strong partner relationship management.
first-line partners
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 accurately describes a company's efforts to engage customers, persuasively communicate customer value, and build customer relationships?
Marketing mix
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.
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
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
Which of the following statements about retailer marketing decisions is correct?
Retailers identify three critical factors for retail success: location, location, and location.
When setting marketing channel objectives, companies should state the objective in terms of
targeted levels of customer service
During the presentation step in the personal selling process, the salesperson ______________.
tells the buyer a "value story"
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
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
A(n) _____ consists of producers, wholesalers, and retailers acting as a unified system.
vertical marketing system
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
As companies become more market-centered, a customer-focused sales force __________________.
works to produce both customer satisfaction and company profit
Which of the following are common trade promotion tools?
Discounts, free goods, allowances, and free advertising specialty items
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
_________ 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
_____________________ 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
In which of the following does a producer direct marketing activities (primarily personal selling and trade promotion) toward channel members?
A push strategy
What are the two major elements in developing advertising strategy?
Creating advertising messages and selecting advertising media
Working with donors or members of nonprofit organizations to gain financial or volunteer support represents which public relations function?
Development
What is the overall goal when retailers choose their product assortment?
Differentiate the retailer while matching target shoppers' expectations
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
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 is TRUE regarding omni-channel buyers?
They shift easily across online and in-store channels.
Which of the following accurately represents the three characteristics of advertising appeals?
To be meaningful, to be believable, and to be distinctive
What is the goal of advertising?
To help move consumers through the buying process
After recruiting and selecting salespeople, what is the next major step in sales force management?
Training salespeople
Of the following, which most closely describes the method by which companies engage and create benefits for their customers?
Value delivery network
Which of the following statements about wholesaling is true?
Wholesalers must make decisions regarding their marketing mix.
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
Companies such as Breitling watches and Pandora charm bracelets use which of the following types of distribution strategy?
Exclusive
_____________________ is a retailing technique of carefully orchestrating the store's layout and displays, background music, colors, and smells.
Experiential retailing
What is the final step in the seven-step personal selling process?
Follow-up
In which of the following is vertical conflict, conflict between different levels of the same channel, common?
Franchise organizations
Which of the following statements about sales promotions is correct?
The heavy use of sales promotions has resulted in promotion clutter.
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 indicates the length of a channel?
The number of intermediary levels in the channel
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.
What event or circumstance has made mobile marketing a must for most brands?
Widespread adoption of mobile devices
Progressive wholesalers recognize that their only reason for existing is to ____________________.
add value
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
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.
One consumer promotion tool is _______, which are goods offered either free or at low cost as an incentive to buy a product.
premiums
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
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.
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
Many vital and key functions are performed by marketing channels. Of the following, which is NOT one of those key functions?
Manufacturing and assembly
