Marketing Final
When you begin your first full-time job, you have a monthly income of $3,500. Your federal and state taxes are $1,000. You pay $600 in rent, have a $300 car payment, and spend $300 on food and $200 on clothes. The remaining $1,100 would be considered your
discretionary income.
Mexican officials claimed that U.S. apple growers were __________ when they appeared to be selling red and golden delicious apples in Mexico for less than the cost of producing them. This resulted in Mexico adding a tariff to these products.
dumping
A retailer buys a painting for $200. She sets the selling price at $450. When the painting doesn't sell after two months, she raises the price to $800 to appeal to a different market. The painting sells for $800 the next day. What is the maintained markup?
$600
The __________ Clash of Clans and Candy Crush Saga are video games that exploit the real world-digital world convergence by building huge personal-rewards psychology for players.
APPS
Which element of the promotional mix has the inherent weaknesses of high absolute costs and difficulty in receiving good feedback?
Advertising
What happens in the growth stage of the Product Life Cycle
Competitors appear, rapid increase in sales
Figure 4-2
Consumer reports
CPM
Cost Per Thousand
Acme Typewriter recently switched from a geographical to a marketing channel structure with different sales teams each serving specific retail channels with different needs: mass merchandisers, office superstores, and the Acme Store within Amazon.com. In this example, Acme uses which type of sales organization structure?
Customer
Figure 11-3
Demand Curves
Google's driverless car is an extreme example of the complexity of which step of the new-product process?
Development
Consumer incomes
Disposable, discretionary, gross income
Figure 9-2
Diversity of Orgs that offer services
Lowe's and Home Depot no longer purchase lumber from companies that harvest timber from the world's endangered forests because they have which buying objective?
Environmental sustainability
EDLP?
Every Day Low Price
Selective __________ is defined as paying attention to messages that are consistent with one's attitudes and beliefs and ignoring messages that are inconsistent.
Exposure
Though the percentages are not always the same, a general rule in business says that the large majority of a firm's revenues come from what percent of its customers?
20%
How many people you talk to happy?
3/9
example of personal selling?
A Jamberry Nails consultant demonstrates the company's nail wrap products to you and your friends in the comfort of your home.
How is customer service related to logistics management?
A firm must drive down logistics costs as long as it can still satisfy customer requirements.
Which of the following is a reason that online buying is so prominent in organizational markets?
Technology can substantially reduce buyer order processing costs.
__________ often triggers a business model change, as it has for American newspapers and book retailers.
Technology innovation
Which of the following statements about word of mouth is most accurate?
The power of word of mouth has been amplified by the Internet.
What do automatic vending, television home shopping, and direct selling have in common?
They are all forms of nonstore retailing.
Figure 5-6
Traditional Auction
McDonald's does not sell beef hamburgers in its restaurants in India because the cow is considered sacred by almost 85% of the population. Instead, McDonald's sells the Maharajah Mac made with chicken. McDonald's respects Indian __________ by not selling beef in India.
Values
__________ decides on trade disputes between members across the world, and issues binding decisions.
WTO
What is Twitter?
a website that enables users to send and receive messages up to 140 characters long
Retail mix
activity related to managing a store
One way that marketing mix characteristics differ for organizational buying compared to consumer buying is that for organization buying
advertising is often technical in nature.
Three commonly used trade promotions are __________.
allowances and discounts, cooperative advertising, and training of distributor's salesforces.
Purchasing and engineering personnel would visit potential suppliers to assess their quality control at which stage in the organizational buying process?
alternative evaluation
University dormitories, whose cafeterias aren't open during evenings and weekends, are good locations for
automatic vending machines.
Kroger supermarkets operate manufacturing facilities that produce everything from aspirin to cottage cheese for sale under the Kroger label. This example shows that Kroger uses
backward integration.
When selecting a brand name, it should: (1) suggest product features; (2) be memorable, distinctive and positive; (3) fit the company or product image; (4) have no legal or regulatory restrictions; (5) __________; and (6) have favorable phonetic and semantic associations in other languages.
be simple and emotional
The study of consumer __________ helps marketers understand why people choose one brand over another and how they make these choices.
behavior
A(n) __________ is an electronic shopping agent that combs websites to compare prices and product or service features.
bot
Key success to selling is...
building a relationship
Marketing activity if for___________
building the brand.
In the new-product development process, the __________ stage involves specifying the product features and marketing strategy along with making financial projections needed to bring it to market.
business analysis
Marketing expertise is gained
by even the average person, who has a great deal of shopping experience.
A benefit of performing a SWOT analysis and an environmental scan during the new-product strategy development process is that they
can help identify the strategic role the new product might serve in the firm's portfolio.
Walmart is opening 12 stores to test the concept of Walmart Express, stores that are one-tenth the size of its supercenters and sell groceries. One risk to this effort is __________.
cannibalization
In BCG's business portfolio analysis, __________ generate more revenue than they can use, allowing an organization to cover its overhead and invest in other SBUs.
cash cows
Quaker Oats makes the FDA-approved claim that oatmeal, as part of a low-saturated-fat, low-cholesterol diet, may reduce the risk of heart disease. It is primarily using which of the following product repositioning strategies for this product?
catching a rising trend
Kelly is responsible for the paper products in the grocery store where she works. She considers herself an expert; she knows all about the various manufacturers, the types of products they sell, and even how consumers use these items. She is responsible for what to order, how much to order, and how to price these products in the store. Kelly is engaged in __________ for the store.
category management
A restaurant is collecting comment cards from customers in order to develop ideas about how to improve their business. The restaurant is
collecting primary data.
Hill's Science Diet markets high quality dog and cat food. On its website is a link to its Community Connect web page where pet owners can sign up for its Pet Chat e-newsletter, subscribe to its YouTube channel, and click on a link that goes to Hill's Facebook Page where they can find out the latest news about or comment on Hill's products. This is a description of a website with a strong __________ design element.
community
Comparative advertising is one form of __________ advertising.
competitive
What is a unique strength relative to competitors, often based on quality, time, cost, or innovation referred to as?
competitive advantage
After reading the daily newspaper, the restaurant owner of Zefferelli's Tower of Pizza said, "I see that the owner of Fellini's House of Noodles ran a quarter-page ad in today's paper. We'll have to match his efforts by running our own ad the day after tomorrow." Based on this statement, what promotional budgeting technique is the Zefferelli's restaurant owner most likely using?
competitive parity budgeting
Which of the following is a criterion used to select a target market segment?
competitive position
Product Breadth?
consists of all the product lines that the company has to offer to its customers.
The primary purpose of transactional websites is to
convert an online browser into an online buyer.
The company name Zappos was chosen because it
conveyed in Spanish the type of product sold
The prices of products sold in vending machines are a good example of which type of competition-oriented pricing?
customary pricing
The acronym CEM in services marketing stands for __________.
customer experience management
The fact that American women use more cosmetics than American men while French men use twice as many cosmetics as French women is an example of differences in the nations'
customs
Through the use of __________, a catalog retailer might determine from its database that customers who purchased silver frames would also have a high probability of buying vintage hatpins. As a result, its sales representatives were instructed to offer a special price on hat pins when a customer places an order for a silver frame.
data mining
Kia Motor's 10-year, 100,000 mile warranty is most effective at
decreasing perceived risk.
The first step in the five-step marketing research approach is to
define the problem
Marketing is the activity for creating, communicating, __________ offerings that benefit customers, the organization, its stakeholders, and society at large.
delivering and exchanging
The Perth Mint in Australia provides silver blanks to the U.S. Mint, which then creates products for consumers like the collectable American Eagle Silver Bullion Coins. The demand for Perth's silver blanks is called __________ demand.
derived
As consumers demand for Ford cars increases, Ford may increase its demand for paint spraying equipment, which for the latter is an example of __________.
derived demand
Choice board
designing own products & services (NikeID, Tesla)
There are five steps involved in segmenting and targeting a market. What should a marketer do once he or she has grouped both potential buyers and products to be sold?
develop a market-product grid and estimate size of markets
Factors such as the need for improved reliability and security in postal systems and new government regulations represent important challenges for __________ in the global market.
direct marketing
2 concerns of marketing are:
discovering and satisfying consumer needs
Airline, car rental, and lodging electronic reservation systems such as Orbitz allow comparison shopping for the lowest fares, rents, and rates and almost immediate access to and confirmation of travel arrangements and accommodations. This demonstrates how electronic commerce contributes to customer value through the creation of
possession utility.
Cognitive dissonance is most likely to occur in which stage of the purchase decision process?
postpurchase behavior
Following the 2010 Deepwater Horizon disaster, BP paid for a series of TV advertisements promoting Gulf Coast tourism, probably helping this area to have a record-setting year. This ad campaign was an attempt to stimulate __________ demand.
primary
Gerber sells baby food with vegetables and rabbit meat in Poland, and with freeze-dried sardines and rice in Japan. These are examples of what type of global product strategy?
product adaptation
Dollar Shave Club asks men to "Shave Money, Shave Time" in its commercials; it offer high-quality blades available by mail for a few dollars a month. Dollar Shave Club's advertising promotes the time- and money-saving aspects of its product as an example of
product differentiation.
The 4 Ps of the marketing mix include product, price, place, and
promotion
Research indicates that there are four key factors involved with salesforce motivation: (1) a clear job description; (2) effective management practices; (3) a personal need for achievement; and (4) __________.
proper compensation, incentives, or rewards.
From 2007 to 2010, a Chinese national who was employed by Dow Chemical as a research scientist delivered stolen trade secrets pertaining to organic fertilizers to individuals in Germany and China for the purpose of developing competing products. The employee was subject to confidentiality, as detailed in an agreement that he had signed addressing his obligations for handling confidential information and trade secrets. This is an example of
economic espionage.
The uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces are referred to as
environmental forces.
When performing __________, an organization should consider not only those trends that directly impact it, but also those that affect its suppliers and customers.
environmental scanning
An important part of creating a market-product grid is to
estimate the size of the markets.
Which of the following is a variable that could be used for demographic segmentation of consumer markets?
ethnicity
Representatives from Kraft spent several months with consumers in their kitchens, attempting to understand what they wanted in ready-to-serve meals prior to the launch of Kraft Deli Creations. The observational approach Kraft used is called __________ research.
ethnographic
The last phase of the strategic marketing process is known as
evaluation
Comparing the results of the marketing program with the goals in the written plans to identify and act on deviations occurs during the
evaluation phase.
In the personal selling process, a telemarketer who calls phone numbers from a purchased list and asks the head of the household, "Are you happy with your current mobile phone service provider?" is engaged in __________.
prospecting.
The VALS system is a(n) __________ measure of consumers.
psychographic
Distribution is important in __________, but because the products from various providers are nearly identical, other elements of the marketing mix have little impact.
pure competition
Tariffs serve primarily to
raise prices on imports.
Marketing research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and __________.
recommending actions
The driving force behind an efficient supply chain is __________.
reducing costs
Billboard advertising is most effective for __________ advertising.
reinforcement
Salespeople for Medtronic, Inc., the world leader in the heart pacemaker market, are in the operating room for more than 90 percent of the procedures performed with its product, just in case a problem should arise. Medtronic sales people participate in?
relationship selling.
Cake mix is in the maturity stage of its product life cycle. A manufacturer selling cake mixes would most likely use advertising to
remind buyers of the marketer's and its brand's existence.
An advantage of using a panel for marketing research is
researchers can take successive measurements of consumers to determine if they change their purchasing behaviors over time.
Reverse auctions
result in a downward pressure on bid prices.
GNB Technologies manufactures lead-acid batteries, and enlists UPS for assistance with its supply chain. UPS also helps the company to obtain used products that are then recycled, which has resulted in reclaiming 90% of the lead from GNB's batteries. This is an example of
reverse logistics
National sales meetings sponsored by the manufacturer and field visits to a reseller's location to inform and motivate salespeople to sell the products are considered forms of
salesforce training.
To enable manufacturers to smooth out manufacturing peaks and troughs and thereby contribute to more efficient production, manufacturers offer
seasonal discounts
Two big concerns of marketing
seeks to discover needs & wants of customers
Service vs Good
service is an intangible process that cannot be weighed or measured, whereas a good is a tangible output of a process that has physical dimensions.
Which of the following occurs during the planning stage of the promotion decision process?
set the budget
What is prestige pricing?
setting a high price so that quality- or status-conscious consumers will be attracted to the product and buy it
Sometimes used as a performance measure, a brand's share or percentage of all the online social media chatter related to a product category or topic is referred to as
share of voice.
Marketing experience
shopping every consumer = marketing expert
Sales promotion
short-term offer designed to arouse interest in buying a product or service
The Upjohn Company first targeted men for its Rogaine topical solution, a drug to restore hair growth, but later marketed this product to women. In this example, the Upjohn Company is using which of the following market modification strategies?
finding new users
A(n) __________ involves setting different prices for products and services depending on individual buyers and purchase situations in light of demand, cost, and competitive factors.
flexible-price policy
In eight small group sessions with customers, 3M heard them complain that standard steel wool pads scratched their expensive cookware. The findings from this research lead to the development of 3M's internationally successful Scotch-Brite Never Scratch soap pads. The research method 3M used was
focus groups.
Material6 makes beautiful hardwood backs for the iPhone, which adds to the smartphone's __________ utility.
form
To commemorate the 2014 FIFA World Cup, Dick's Sporting Goods, Big 5, and Sports Authority now sells several versions of an Adidas soccer ball like the ones used by professionals in the games. They come in several color schemes, sizes, and price ranges for use by all ages. Which utility do the retailers best provide in this example?
form
A few years ago, Young and Rubicam, Inc. developed the "Softer Side of Sears" campaign to target middle-income women. This agency provided research about that segment, media choices, and complete production of advertising for Sears. Young and Rubicam is an example of a(n)
full-service advertising agency.
Dentyne gum introduced a Split2Fit pack, which is compact package design intended to be separated into two halves to better fit into a pocket or a small purse, or two keep two halves in separate places. This is an example of which type of benefit that packaging can provide?
functional benefits
One of the disadvantages associated with television as an advertising medium is that it
has a perishable message.
Two major types of product positioning are
head-to-head; differentiation.
Millennials consumer values
health & wellness, sustainability, preserving the environment
An extended introduction stage of the product life cycle occurs for which type of product?
high learning
Pebble used a skimming pricing strategy to introduce its new Pebble Smartwatch. Which of the following conditions would argue AGAINST using a skimming pricing strategy when introducing this new wearable computing device?
increasing volume substantially reduces production costs
A marketing channel refers to
individuals and firms involved in the process of making a good or service available for use or consumption by consumers or industrial users.
Jack, in inside sales, has an office right across the hall from the administrative pool. When he heard they were purchasing a new paper shredder, he said, "I know I don't get much of a say, but please look for one that is quieter. When you use it, my furniture actually vibrates. That thing drives me crazy!" Here, Jack performs what function in the buying center?
influencer
Keith liked how the dry cleaner down the street washed and pressed his clothes, but he found the repeated phone calls from staff about his finished laundry annoying. He began to think of the whole place as annoying, which is a function of the __________ aspect of services.
inseparability
Services are
intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
Two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller is known a
interactive marketing.
Skimming or penetration pricing are appropriate pricing strategies during the __________ stage of a product's life cycle.
introduction
Satisfaction or dissatisfaction affects consumer communications; while the satisfied buyer typically tells about three other people about her experience, the dissatisfied buyer...
is likely to complain to about nine people.
Which of the following is most characteristic of an organizational buyer in the buying process?
is technically qualified and professional
A disadvantage of the straight salary compensation plan is that
it provides little incentive to expand sales volume.
What percentage of companies succeed with their first project?
less than 3%
A French cooperative called Sodima allows General Mills to sell Yoplait in the United States in return for a fee, a global market entry strategy known as what?
licensing
Sysco is a global leader in distributing food products and supplies to restaurants, healthcare and educational facilities, and the hospitality industry. The company makes a weekly delivery to the student union on your college campus. Which type of function did this channel intermediary perform in this instance?
logistical
When a brand name cannot be spoken, it is considered a __________.
logo
The market leader for a(n) __________ product must make special efforts to avoid stockout situations so that buyers don't substitute a competing brand
low-involvement
The outdoor brand The North Face intends to capture some of its competitors' business in Europe in the next few years, even amid the stagnant economic conditions there. The firm cites the active lifestyles there and the relatively low cost of entry for its backpacking and hiking sports gear, which attracts those planning a low-budget "staycation." The North Face most likely has a __________ goal.
market share
A __________ with active hyperlinks is useful when a chief marketing officer (CMO) wants to see daily what the effect of a new TV advertising campaign is on a product's sales.
marketing dashboard
Writing ads and setting prices are examples of which of the following?
marketing tactics
Which of the following is NOT a consumer-oriented sales promotion?
merchandise allowance
Southwest Airlines' __________ is to be dedicated "to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit."
mission
Marketing executives typically consider three questions when choosing a marketing channel and intermediaries. These include: (1) which channel and intermediaries will provide the best coverage of the target market, (2) which channel and intermediaries will best satisfy the buying requirements of the target market, and (3) which channel and intermediaries will be the
most profitable
Most of Lands' End's revenues come through catalog and Internet sales, but it also operates several retail stores and factory outlets. This makes Lands' End an example of a(n) __________ marketer.
multichannel
Discount Fishing Tackle is a shop that carries a large selection of fishing rods and reels, bait, tackle boxes, waders, nets, and a few other fishing implements. Discount Fishing Tackle's breadth of product line would be described as __________ and its depth of product line would be described as __________.
narrow; deep
If you are feeling chilly, marketers might say you have developed a(n) __________ to put on some warmer clothing.
need
Which type of personal selling presentation format is the most consistent with the marketing concept?
need-satisfaction presentation format.
Publicity
non-personal, indirectly paid presentation of an organization, product, or service
A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand, is referred to as a __________.
perceptual map
Multiple market segmentation
single product/service that is sold to 2 or more market segments through separate promotional campaign
Which of the following is NOT a pricing constraint?
social responsibility impact of the product on society
A company is interested in producing self-stick decorative posters. It selects a representative sample of middle school students who currently have one or more standard posters on their walls. After interviewing them and collecting other relevant data, the firm then makes generalizations about what all middle school students want in their posters. The method used is
statistical inference.
A recent Disney Online M.O.M. (Mom on a Mission) study found that today's mother __________.
stays connected with family and friends through social networks like Facebook
A company monitors the amount of time per month, in minutes, visitors spend on a company's website to gauge __________.
stickiness
Using the same brand name for different products is an application of which concept from behavioral learning theory?
stimulus generalization
one of the three major sales presentation formats?
stimulus-response format
The retailing mix includes retail communication, merchandise, and which two other elements?
store location and retail pricing.
Social media evangelist
strategic planner, manager, trainer and facilitator
When a crew member at McDonald's asks you, "Do you want a McCafé White Chocolate Mocha with your meal?", she is using a technique called __________.
suggestive selling.
Which type of outlet is most likely in the maturity stage of the retail life cycle?
supermarkets
The practice of __________ occurs when an organization conducts business in a way that protects the natural environment while making economic progress.
sustainable development
Members of Generation Y are most likely to influence the marketing mix decisions regarding which of these products?
tablet devices
The last step in the marketing research approach is to
take marketing actions.
Sound and Cinema is a company that will turn an ordinary basement into a home theater. It advertises in publications that are mailed to homeowners in subdivisions where the least expensive home costs $550,000. These homeowners are the __________ for Sound and Cinema.
target market
All of the following are all examples of a price EXCEPT:
tax
Innovations are allowing consumers to utilize gesture, touch, and voice to control computers and other devices. This is an example of a(n) __________ force that could impact many industries.
technological
Which of the following most directly impacted the legal concept of caveat emptor in the United States?
the Consumer Bill of Rights
Caviet Emptor
the buyer alone is responsible for checking the quality and suitability of goods before a purchase is made.
Integrated marketing communications (IMC) is
the concept of designing marketing communications programs that coordinates all promotional activities to provide a consistent message across all audiences.
EU
the eventual establishment of common economic, foreign, security, and justice policies.
Which of the following is NOT a factor that would be considered noise in the communication process?
the message is considered too ordinary
Reach refers to:
the number of different people or households exposed to an advertisement.
Which of the following would be an example of a variable cost for a publication like SHAPE magazine that is targeted to young women seeking a healthier lifestyle?
the paper and ink for printing the magazine
Price elasticity of demand refers to
the percentage change in quantity demanded relative to the percentage change in price.
A Starch test uses all of the following to score an advertisement EXCEPT
the percentage of those who remember seeing the ad yesterday
Dynamic pricing (like that used at the Beer Exchange in Kalamazoo) refers to
the practice of changing prices for products in real time in response to supply and demand conditions.
The Canadian marketing manager for Schick razors recently launched its first e-mail campaign that was targeted to both men and women. Schick gave out 20,000 Hydro razors to customers who agreed to share information about their shaving habits. For sharing their information, customers were sent updates about other new products and promotions. In this example, Schick used __________.
permission marketing.
Yahoo! allows users to create personalized My Yahoo! pages. Users can add or delete a variety of information from their personal pages, including stock quotes, weather conditions, and local TV schedules. This is an example of a high degree of __________.
personalization.
An important __________ for Medtronic's Champion pacemaker is its long, nine-year life, which cannot be matched by competitors.
point of difference
Brick-and-mortar retailers are noticing a change in how many consumers shop. Sometimes they visit a store and scan an item on their smartphones, only to find the same product at a less expensive online retailer like Amazon.com. This turns the store into nothing more than a showroom for products. A SWOT analysis of Best Buy's marketing environment should consider this change in consumer shopping behavior a(n) __________.
threat
Inbound
toll-free telephone numbers that customers can call to obtain info about products or services & make purchases
Not only do businesses benefit from the protections of __________, consumers do as well; they allow consumers to correctly identify the products they want to purchase.
trademarks
back translation?
translator or team of professional translators interpret a document previously translated into another language back to the original language.
Organizational buyers include all buyers in a nation EXCEPT:
ultimate consumers.
Outbound
using the telephone rather than personal visits to contact current & perspective customers
Total logistic cost factors in a supply chain include transportation, order processing, stockout, inventory, returns, and __________.
warehousing and materials handling
In terms of media richness, social media rated highest in media richness are
web pages that include animations.
Blogs are:
web pages that serve as publicly accessible personal journals and online forums. "Web-log"
The marketing concept is the idea that an organization should strive to satisfy the needs of consumers
while also trying to achieve the organization's goals.
__________ can happen anywhere the customer meets the product and it is the means by which exchange occurs.
Retailing
Steps to strategic marketing
SWOT, Marketing-product focus & goal setting, Marketing program
A television ad for Volkswagen features several nervous teens examining the damage immediately following a car accident, and the message, "Your parents can only kill you if you're OK." Marketers at Volkswagen are attempting to appeal to consumers' __________ needs.
Safety
What do women look for in a car?
Safety
Which of the following statements concerning the pricing of services is most accurate?
Service pricing plays a role in balancing consumer demand for services.
figure 16-4
Social Media
Personal selling format
Stimulus- response, formula selling, need-satisfaction
North Safety Products manufactures butyl gloves that offer permeation resistance to gas or water vapors for workers that use dangerous chemicals like ketones. The company has fixed costs of $10 million for its butyl glove production and unit variable costs of $5 per pair. If the company charges $15 per pair, how many pairs of gloves must it sell to break even?
1,000,000 pairs
__________ often assist companies and the employees with ethical issues by formally addressing contributions to government officials and political parties, customer and supplier relations, conflicts of interest, and accurate recordkeeping.
Codes of ethics
Market segmentation
Common needs that will respond similarly.
Department stores such as Saks Fifth Avenue, Nordstrom, and Neiman Marcus are usually considered __________ retailers.
Anchor
Fields of experience
Attitudes, lessons, perceptions, and value that an individual or a group brings to a situation or problem
In the video THE NAKED BRAND; Alex Bogusky was hailed as the Top Creative Ad Director, before he started a new company know as COMMON. What product did COMMON start with?
Bamboo Bicycles in Alabama
Which of the following products at the time of their introduction was the best example of a continuous innovation?
Blu-Ray player
In an inflationary economy, which of the following is true?
Both the costs to produce and buy products are increasing.
Steps of strategic marketing plan
Goal setting, analysis, strategy formulation, implementation, and evaluation and control
Good vs Service
Goods are items you buy: such as food, clothing, toys, furniture, and toothpaste. Services are actions: haircuts, medical check-ups, mail delivery, car repair, and teaching
When companies price their products very high in some countries but competitively in others, they face which problem?
Grey Market
figure 18-1
Growth in online shoppers
What do consumers focus on?
Health & Wellness, Sustainability
In the NAKED BRAND video; Who did congress cut funding for, after adding Millions $$ to pay for NASCAR ads for the Armed Forces?
Homeless Veterans
When SPAM is featured in Meijer's ad(s), who pays for the cost associated with the ad (such as: newspaper, flyer, digital and price)?
Hormel
Which of the following is a potential problem when using humorous appeals in advertising?
Humor tends to wear out quickly, boring the consumer.
Sales Promotion consumer-orientated
Increasing the sales to existing consumers, and to attract new customers to the firm
IMC?
Integrated Marketing Communications
At which stage in the product life cycle would a company's promotional objective most likely be to increase the level of consumer awareness?
Introduction
Which of the following statements about traditional and social media is most accurate?
It is hard to discern the expertise and credibility of many creators of social media sites
What does major account management refer to?
It is the practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships.
Governments such as China's may require or strongly encourage a(n) __________ before it allows a foreign company to enter its market.
Joint Venture
Which social network has over 275 million registered members, each with a network of business connections, who conduct 6 billion professionally oriented searches annually?
Which of the following statements regarding direct marketing is most accurate?
Many customers believe direct marketing saves time, is entertaining, and offers privacy.
Figure 2-3
Marketing Dashboard
__________ has resulted in more open borders, allowing French tire maker Michelin to close 180 of its European distribution centers and it now uses just 20 to serve all EU countries.
Nato?
In THE NAKED BRAND; what shoe company was highlighted for supporting sweetshops in Vietnam, but later became one of the best corporate citizens after solving this issue?
Nike
Nato
North American Trade Act
When Procter & Gamble bought the Old Spice brand in 1990, it planned to transform the old, stagnating brand into a men's "personal-care powerhouse." The ads that P&G developed shed the older-man image and the message is now targeted at the 18 to 34 year old age group. In terms of the communication process, the __________ would encode the message.
Old Spice marketers
Having a Chevron gas station located on a long stretch of lonely highway is an example of __________ utility.
Place
Figure 10-4
Product Life Cycle
Four P's
Product, Price, Promotion, Place
Figure 6-1
Protectionism
Stephanie Postma, our guest lecturer from Hormel, talked about the responsibilities in three job roles at Hormel. Which of these WAS NOT one of those jobs?
Public Relations
Figure 14-4
Push & Pull strategies
Which of the following social networks is devoted to entertainment and sharing where members submit content users can vote up or down?
Example of Self Service?
Redbox, self check out
Which of the following is the best example of a shopping product?
Reebok running shoes
Best Buy, a consumer electronics chain, is an example of which type of organizational buyer?
Reseller
Figure 13-5
Retail Life Cycle
Weakness & Strength of publicity
Weakness: lack of user's control over it Strength: Credibility
Members of David's fraternity volunteer in an urban garden project in Seattle. He spent last Saturday helping out, and felt satisfied because he was contributing to his community. Was this an exchange?
Yes, because gardening was exchanged for something of value - a feeling of satisfaction.
Though most of the content on this social network is uploaded by amateurs, many companies offer streaming video content related to their products on the site through a __________ channel.
Youtube
Research shows that __________ is the single most important factor for a new product to defeat competitive ones - having superior characteristics that deliver unique benefits to the user.
a distinctive point of difference
Which of the following is considered a durable good?
a lamp
The primary difference between a good and a service, both of which are products to the marketer, is that a good is __________ and a service is __________.
a physical object; intangible
Asking the firm's salespeople to estimate sales during a coming period is referred to as
a salesforce survey forecast.
Facebook is:
a social networking site that allows for people to exchange photos, videos and comments. (Mark Zeckerberg)