Marketing Final
Which of these is the best example of noise in the communication process?
A radio advertisement used technical jargon.
The USMCA is a renegotiation of the
North American Free Trade Agreement
As part of its integrated marketing communication strategy, Taco Bell utilized commercials aired during the Super Bowl. This form of ________ has an extremely large reach and hefty price tag.
advertising
When Martha was starting The Coffee Collective, she purchased the right furniture, painted with certain colors, hired the right employees, and is now selling appropriate snacks. These are all examples of which component of the retail mix?
communication
Using ________ trend extrapolation, you draw a line to fit the past sales data and project it into the future to give the forecast values.
linear
The Coffee Collective is seeking to identify customers who want a unique coffee-drinking experience and are open to a loyalty rewards program. In doing so, the Coffee Collective is determining its
market segment
Decisions by The Coffee Collective regarding which type of organic dog biscuit to offer is an example of which retail mix component?
merchandise
In the development stage, GoPro engineers and designers use a 3-D printer to turn an idea into a product ________ to check the design and the aesthetics.
prototype
If automakers were to segment Justin based upon the type of active lifestyle he leads, this would be considered ________ segmentation.
psychographic
Important variables in the family life cycle are age, marital status, and
presence of children
If the mass-produced guitar sells 100,000 units annually at $175 per guitar, what is the total revenue?
$17,500,000
Carmex uses key Facebook metrics such as "likes" and "engagement" to keep up with the size and activity of Carmex's Facebook audience. In what stage of the marketing research approach would the Carmex manager determine the number of current Facebook likes and level of engagement activity?
Collect relevant information.
The United States wants to protect its domestic sugar producers by limiting the supply of foreign sugar. Therefore, you advise your clients that they should suggest to the United States to
impose a quota.
To accomplish is mission of donating a pair of socks to a homeless shelter for every pair of socks sold and to signal its higher quality, Bombas utilizes a premium
pricing strategy
When measuring the effectiveness of her retailing strategy, Martha decides to measure the sales per square foot, which is calculated by dividing ________ by selling area in square feet.
total sales
When communicating with its target audience, Taco Bell considered each of its ________, including social media channels, packaging, point of purchase displays, and advertising. These places of contact between a firm and its customers are critical elements for building an integrated marketing communication plan.
touch points
Washburn's fixed costs for producing mass-produced guitars are $500,000. Its variable costs are $150 per guitar. If it prices these guitars at $250, what is the break-even quantity for this line?
5000 guitars
Daimler AG agreed to sell 30 trucks to Romania in exchange for 150 Romanian-made Jeeps, which is an example of
countertrade
One way that Pizza Hut can measure various aspects of a brand marketing program, such as site traffic, search terms and conversion rates is through use of a(n)
marketing dashboard
The Coffee Collective will need to detail the day-to-day operational decisions that are required to execute the marketing planning phase. These actions are referred to as
marketing tactics
While nonprofit service organizations use them, public service announcements (PSAs)
may be limited in their effectiveness because their timing and location are controlled by others.
________ means that the Coffee Collective's customers cannot easily distinguish the service provider, such as Martha and her employees, from the service itself, such as purchasing and drinking the fresh-brewed coffee.
Inseparability
If Washburn Guitars were to lower the price of the Maya Pro DD75 to $2,499 from $2,699, sales of the guitar would increase 30 percent. This illustrates
a product with elastic demand.
While Fallon Worldwide was working with Arby's executives on its campaign, it was decided that the ________ for the campaign should be to increase demand for Arby's other menu items since Arby's consumers primarily associated the restaurant with roast beef and lacked an awareness of Arby's other protein offerings.
advertising objective
One of Coppertone's marketing tactics is the sponsorship of the men's and women's Olympic soccer teams. To many of the over 3 million boys and girls playing youth soccer in the United States, the U.S. Olympic soccer teams are a(n) ________ group.
aspiration
The behavioral sciences inform the study of consumer ________, helping marketers understand customer choices and how to provide value to them.
behavior
A cornerstone of Prince's strategy is developing new products that have the features desired by players of differing skill levels. This would be considered ________ segmentation.
behavioral
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
The Poshmark experience is built around people interacting with other people who are passionate about fashion. Posh Fest is a testament to the strength of the Poshmark ________ since buyers and sellers travel across the United States and Canada to interact face to face based on the relationships that they built online.
community
IBM is defined and guided by (1) a dedication to every client's success, (2) innovation that matters for our company and for the world, and (3) trust and personal responsibility in all our relationships. These standards represent IBM's
core values
________ at IKEA include cost-consciousness, constant desire for renewal, and accepting and delegating responsibility.
core values
To create the most ________ for someone like Gabby's dad, coffee houses need to minimize their expenses and keep their prices down. Fancy furniture and free WiFi are simply not of interest to consumers who want a quick, inexpensive cup of coffee.
customer value
To ensure that Bombas customers are satisfied with their purchase, its socks come with a 100% Happiness Guarantee which assures customers that the Bombas Customer Happiness Team will be happy to assist them with any issues or questions. This superior after-sale customer service is one way that Bombas creates
customer value
Fitness trackers are in the growth stage of the product life cycle. A manufacturer selling one of these devices would most likely use advertising to
differentiate one brand of device from another.
Laggards are the last to adopt a new product according to which concept?
diffusion of innovation
Although it is the riskiest strategy, the advantages of ________ as a global market expansion strategy for Five Bucks would be cost savings, a better understanding of local market conditions, and fewer local restrictions.
direct investment
Mary Kay, Inc. entered China in 1995 through its subsidiary, Mary Kay Cosmetics Company Ltd., which is headquartered in Shanghai, China. This is an example of
direct investment
To serve both buyers and sellers, marketing seeks to ________ the needs and wants of prospective customers and to satisfy them.
discover
An important part of creating a market-product grid is to
estimate the size of the markets.
In the _____ stage of the advertising development process, the Fallon team conducts research to determine whether or not consumer awareness of Arby's range of protein offerings increased from pre-campaign levels.
evaluation
A specific research objective from the information obtained in the small groups is to
explore how consumer attitudes towards snacking were evolving.
When a consumer has evaluated alternatives in the purchase decision process and selected one, he still must determine when to buy and
from whom he will buy
During the implementation stage, the Fallon creative team works with Fallon media buyers to select and schedule the media. Because Fallon Worldwide offers a number of services including research, media, copy, artwork, and production, it would be classified as a(n)
full service agency
With the typical downward-sloping demand curve like the one shown for Washburn, as price per unit falls, demand
increases
When The Coffee Collective purchases advertisements on the radio announcing its new patio for dog-loving coffee drinkers, this would be a form of ________ advertisement.
informational
The LA Galaxy understands the importance of attracting big-name soccer stars like Beckham, Keane, and Donovan to the team. For the consumer, the value of the game is created by players on the field. In other words, the creators of the service (the players) and the service itself (the game) are one in the same. This is an example of the ________ of services.
inseparability
If Joe to Go is willing to accept royalties or fees for the use of its coffee trademark and patents, it would be considering which strategy for international growth?
licensing
GoPro employees are encouraged to participate in the "Live It, Eat It, Love It" program in which they pursue their passions outside of the office and record their experiences on GoPro products prior to commercial launch. The employee experiences provide GoPro with valuable feedback in the ________ stage of the new-product development process.
market testing
The growth in the popularity of tennis means there are more consumers playing tennis today across many skill levels, incomes, and athletic abilities. Therefore, the ideal segmentation strategy for Prince would be
multiple products/multiple market segments.
If Martha decides to use a ________ strategy to grow the Coffee Collective, she would distribute a series of Coffee Collective branded teas and coffees through the local supermarket.
multiproduct branding
A marketing manager for SOREL has a goal to improve sales for insulated winter boots by 8 percent in the coming year. He decided to run outdoor magazine ads for two months in the fall as well as create a social media campaign for Instagram in order to accomplish this. He priced the advertising he planned to use and set the budget accordingly, using which promotional budgeting technique?
objective and task budgeting
In addition to Facebook research, Carmex uses retailer checkout scanner data to determine which formulations of Carmex are most popular. This type of primary data gathered through the front-end checkout data is classified as ________ data.
observational
Most new Carmex products are priced between $0.99 and $2.99, well within reach of the price-sensitive mass consumer market. Carmex is utilizing a ________ strategy with its lip balm products.
penetration pricing
The seven Ps of services refer to an expanded marketing mix for services that includes the four Ps (product, price, place, and promotion) as well as
people, physical environment, and process.
The primary source of competition for Pepsi AM was likely
pepsi
An important ________ for Medtronic's Micra pacemaker is its unmatched small size, about the size of a vitamin capsule, which allows it to be implanted directly into the heart without invasive surgery or the need for electrical leads.
point of difference
To compete with the convenience of online retail, the Mall of America offers a mix of sit-down dining, fast casual, and fast food dining choices. The various dining experiences are a ________ for Mall of America as compared to online malls.
point of differentiation
Marketing research and taste testing of Pepsi AM was implemented in order to avoid which mistake?
poor product quality
If Carmex sent an email survey to each email address registered through its Facebook page to determine what the demographic profile of its average Facebook fan looked like, this would be an example of ________ data gathering.
primary
The Blue Ginger Multi-grain Blue Rice Chips advertisement would be classified as a(n)
product advertisement
Two factors that will influence Gabby's decision are the fact that she is not a morning person and that she is interested in having free Wi-Fi during the flight. These factors would be considered ________ influences in the consumer purchase decision process.
psychological
The Mall of America is currently more than 4.87 million square feet and has more than 400 stores—with plans for expansion. With its large size and diverse retail offerings, the Mall of America would best be classified as a
regional shopping center
The largest ________ in North America is the West Edmonton Mall in Alberta, Canada. It is home to more than 800 stores, the world's largest indoor amusement park, more than 100 restaurants, a movie complex, and two hotels, all of which attract 30 million visitors each year.
regional shopping center
One of the important features of the _____ environment is the existence of protections for consumers that emerged during the 1960s to increase the influence, power, and rights of consumers in dealing with institutions.
regulatory
The Mall of America utilizes ________ because it combines the traditional elements of promotion (including advertising, social media, and personal selling) with functional and psychological elements to position the mall and create its high-end image.
retail communication
________ includes all activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use.
retailing
The promotional mix consists of communication tools that include advertising, public relations, direct marketing, personal selling, and
sales promotion
To give consumers an incentive to try its new Doritos Locos tacos, Taco Bell gave out free samples of the new tacos to its customers. The free Doritos Locos tacos giveaway is an example of
sales promotion
There are five steps involved in segmenting and targeting a market. What should a marketer do once she has developed a market-product grid and estimated the size of markets?
select target markets
In order for the Coffee Collective to maintain ________, it will need to make sure that its coffee tastes great, the coffee shop is clean, and the staff is able to answer customers' questions.
service quality
Carlos tried out a new tablet at Office Depot, but then bought it online for about $20 less, even with shipping. He engaged in
show rooming
Chad competes in multiple IRONMAN triathlons every year and trains outdoors daily. Chad's been getting sunburned on his long bike rides lately, so he decides to ask his IRONMAN training group about their sunscreens before he purchases his next bottle of sunscreen. The feedback Chad receives from his IRONMAN group is an example of a ________ influence.
sociocultural
To accomplish a successful repositioning of the brand, Taco Bell needed to inform its consumers that Taco Bell food should be thought of as an experience rather than as just fuel. In the communication process, Taco Bell would be the ________ and the consumer would be the ________.
source; receiver
Orbitwheels are a cross between a skateboard and pair of inline skates. Riders insert each foot in a large wheel that rotates sideways. Orbitwheels differ from a skateboard in that they are self-propelled by the rider's wave-like motion so the need to push off the ground every few feet to get moving is eliminated. The product has been popular among some kids, especially athletic teen boys. Athletic teen boys could be described as the ________ for Orbitwheels.
target market
A North Face print ad shows a rock climber hanging underneath a treacherous overhang, with the tagline, "Never stop exploring." In terms of the communication process, the magazine in which the ad is placed would be considered
the channel of communication
As a situational influence, antecedent states include
the consumer's debit card balance.
Pepsi AM was perceived to be ________ regular Pepsi by most American consumers.
the same as
Washburn has four distinct price points for its guitar lines—entry, intermediate, professional, and collectors—based on the fact that each line has very different production costs, market demand, and sales level. Thus, Washburn has implemented a ________ pricing objective.
unit volume
The retail positioning matrix positions retail outlets on two dimensions: breadth of product line and
value added
Hotmail, one of the first companies to provide free, Internet-based e-mail, included this tagline in each e-mail sent: "Get Your Private, Free Email from MSN Hotmail." This is an example of
viral marketing
Assuming that the store's cost for the printer and the USB cord was 50 percent of its list price and that shipping was set at its cost, what were the seller's costs for this transaction?
$172 Seller's cost = (Printer list price x 50%) + (USB list price x 50%) + shipping. This translates to: $172 = ($279.00 x 50% = $139.50) + ($25.00 x 50% = $12.50) + $20.00.
Five Bucks prefers to maintain greater control afforded by ________ and is willing to take on greater financial risk to continue its global expansion into India. By doing so, however, Five Bucks will also have to share the profits.
a joint venture
Creating a consumer-brand connection is the final step in building
brand equity.
The new GoPro Hero5 Session offers 4K video, one-button simplicity, and voice control all in a small, waterproof design at the attractively low price of $299.99, which is $100 lower than the Hero5 Black's price. If the majority of the Session's sales were from consumers who would have purchased the more expensive Hero5 Black, we can say that the new Session _______ the sales of the Black.
cannibalized
A(n) _____ typically addresses contributions to government officials and political parties, customer and supplier relations, conflicts of interest, and accurate record keeping.
code of ethics
Which product-market combination has the greatest potential?
fashion items to the younger segment
With many choices on product mix options, the shop should focus on
fashion products like the Vera Bradley line.
For most products, a decrease in price will ________ value.
increase
Assume Carmex used both the poll and the contest on Facebook in an attempt to increase "engagement" and "likes" on the Carmex page. If "likes" did not increase but "engagement" increased by 10 percent, one would conclude that the contest was ________ successful at driving results than the poll.
less
Organizational ________ describes why an organization exists, what problems it wishes to solve, and who it wants to be to every person it touches through its work.
purpose
Toyota's more than 30 hybrid vehicles, investment in zero-emission vehicles, and work on developing hydrogen fuel cell vehicles not only protects the natural environment but also furthers overall economic progress. Customers generally has positive feelings towards companies that focus on _______ efforts such as Toyota's.
sustainable development
The primary goal for the Blue Ginger Multi-grain Blue Rice Chips campaign should be
to inform
A ________ identifies that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it.
trademark
A new KitchenAid refrigerator has a separate cooling system for the freezer, which lessens the humidity in the refrigeration section and reduces spoilage. The change adds to the refrigerator's ________ utility.
form
In routine problem solving, the number of external information sources used is typically which of these?
none
Whole Foods uses its wholesome and organic selection of products, unique store design, and local ambience to avoid direct competition with large supermarket chains, which is an example of ________ positioning.
differentiation
Based on the limited information in the case, which market segment is larger?
the 20s and 30s segment
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
While its roots were in word-of-mouth, Bombas' current _______ heavily utilizes social media channels such as Facebook, Instagram, Snapchat, Pinterest, and TikTok to gain large-scale and niche market exposure.
promotion strategy
The Toyota Effect describes Toyota's desire to use its resources and knowledge to benefit society, and people, and the planet. The Toyota Effect demonstrates the company's dedication to
societal responsibility.
IBM Watson for AI, IBM Cloud, IBM Security, IBM Services, and IBM Research each represent a(n) ________ since each brand functions as its own division at IBM and markets its own set of related offerings to a clearly defined target market.
strategic business unit
The Geek Squad customer service model works well in today's marketplace because _____ has outpaced consumer comprehension in many market segments.
technology
Bill and his buddies are on their way to Myrtle Beach for a guys' golf weekend. While in the airport, he realizes that none of them has packed any sunscreen. Fifteen minutes before his flight is scheduled to depart, he runs in the airport convenience store to grab a bottle of sunscreen. Which situational influence likely had the most significant impact on his purchase decision?
temporal effects
Selective ________ occurs when people pay attention to messages that are consistent with their attitudes and beliefs and ignore messages that are inconsistent with them.
exposure
The first step in developing ________ for the Coffee Collective would be to develop positive brand awareness and an association of the brand in consumers' minds to give the brand an identity.
brand equity
In the retail positioning matrix, the Mall of America would be positioned in the ________ breadth of product line, and ________ value added quadrant.
broad; high
Instead of using survey information, Martha decides she would rather use ________ to find hidden information within her customer relationship management database and uncover links between spending habits and which types of entertainment should be marketed by the Coffee Collective.
data mining
Carmex's first efforts in marketing research had the research objective of figuring out who it was as a company and what the Carmex name means. In the first stage of the marketing research approach, ________, the research objective is set.
defining the problem
The goal of brand engagement marketing is to shift the focus of marketing campaigns from driving immediate transactions to
developing sustainable brand relationships.
Drinking a cup of coffee and drinking a can of Pepsi AM were perceived to be socially ________ by most Americans.
different
If Joe to Go decides to produce its coffee beans domestically and sell them in India through a retail intermediary, this would be an example of
indirect exporting
The scanner data collected by Frito-Lay is a form of ________ data.
internal secondary
When examining the strengths of the Coffee Collective within a SWOT analysis, you would need to evaluate the _____ and _____ factors of the organization.
internal; favorable
The LA Galaxy soccer match is best classified as a service that
is delivered by people
Which of these is a psychological influence on the consumer behavior decision process?
learning
The shape of the product life cycle for the natural and organic confectionary product category indicates a short introductory stage, relatively quick growth stage, and a projected lengthy maturity stage. Given this information, Justin's knows it must lock in distribution quickly since competitors will likely be following quickly. What type of products are natural and organic confectionaries?
low-learning products
In order for Martha to categorize prospective buyers into groups that have common needs and will respond similarly to a marketing action, she will need to effectively complete a
market segmentation
Given Prince's multiple-segment strategy and limited marketing budgets, the company would want to create a ________ to help visually estimate the market size of a given product sold to a specific market segment.
market-product grid
To keep consumers coming to the Mall of America from around the world, mall management must ensure that the retail offerings at the mall include a mix of national department stores and specialty retail. The mix of retailers at the Mall reflects the ________ element of the retailing mix.
merchandise
Blue Ginger Multi-grain Blue Rice Chips would be considered a(n) ________ for Kellogg's.
new product
Well before the introduction of its Karma Drone, GoPro conducted a thorough environmental scan and discovered a substantial increase in the number of consumers engaging in aerial drone photography. This discovery occurred in which stage of the new-product development process?
new-product strategy development
Which form of media advertising has seen the sharpest decline in the United States over the last 15 years?
newspapers
Teach For America, a diverse network of leaders who confront educational inequity, is an example of a(n)
nonprofit organization
In which segment does the gift shop seem to have the weakest competitive position?
older customers (age 60-70)
Among ________, women and men shop on the Internet with equal frequency, and men tend to spend more per purchase transaction than women.
online consumers
Which of the following would allow Gabby the most flexibility in asking probing questions about why customers would want an open mic night?
personal interviews
The Mall of America, while located in chilly Minneapolis, MN, is located at the intersection of major freeways, with easy access to a major airport in a thriving metropolitan area. Store location is to the retailing mix as ________ is to the marketing mix.
place
For Prince's profitability and long-term survival, the firm must use a marketing strategy of ________ to ensure that consumers believe that its products have unique and superior attributes when compared to the competition.
product differentiation
Sensodyne ProNamel toothpaste is formulated to re-harden acid-softened tooth enamel to increase protection for users' teeth, and this attribute sets it apart from competitors. Sensodyne's advertising promotes this product benefit and is an example of
product differentiation
The person responsible for managing the marketing efforts for a close-knit family of products or brands is called the
product manager or brand manager.
Billie Eilish and her brother/collaborator FINNEAS performing a new James Bond theme "No Time to Die" on an episode of The Tonight Show Starring Jimmy Fallon would be considered which element of the promotional mix?
public relations
Special events, lobbying efforts, and press conferences are examples of ________ tools.
public relations
When the humane society creates and distributes a news release outlining its pet adoption event with The Coffee Collective, it is considered a form of
public relations
Salespeople call on wholesalers to encourage orders and provide sales assistance as part of a ________ strategy.
push
Twitter, Facebook, Vine, Instagram, and Snapchat were all utilized to engage customers during the Doritos Locos tacos introduction as part of the ________ component of the campaign.
social media
Pizza Hut's use of Facebook and Twitter are examples of _______ marketing.
social network
Though communication is one of the reasons consumers engage in interactive marketing, it can take the form of junk e-mail called
spam
Carmex Moisture Plus is priced between $2.49 and $2.99, a high price compared to the $0.99 Carmex tube. Carmex managers estimated that female consumers would be willing to pay more for the sleek packaging, benefits, and additional ingredients found in the Moisture Plus line and set the price accordingly. Which demand-oriented approach is best reflected in the price of the Moisture Plus line?
target pricing
Marketspace, or the information exchange environment provided by digitized offerings as demonstrated by the ability of consumers to find water bottle filling stations for Hope Springs, is considered a trend within the _____ environment.
technological
Which of these segments would be most consistent and compatible with the store owners' objectives and resources?
the 20s and 30s crowd
Recreational Equipment, Inc., an outdoor gear marketer, reports that 35 percent of its orders are placed between 10:00 p.m. and 7:00 a.m., long after and before retail stores are open for business. This describes how interactive marketing can provide ________ utility.
time
Aggregating potential car buyers into groups that have common needs and will respond in the same way to a marketing campaign is a process known as
market segmentation
All of these are consumer-oriented sales promotions except which?
allowances
Given that Gabby is looking for a budget-priced flight home for holidays, she will need to determine which flight features are most important to her. She will do this during the ________ phase.
alternative evaluation
If automakers used ________ segmentation, they would use vehicle features such as the availability of a moon roof and Bluetooth capability to find customers similar to Justin.
behavioral
The ________ aspect of Poshmark's experience is all about making buying and selling easy. Easy listings, automated shipping labels, and straightforward payment systems make selling on Poshmark as easy as 1-2-3.
commerce
Wrinkle-free and stain-resistant clothing made possible by nanotechnology revolutionized the men's and women's apparel business and stimulated industry sales of casual pants, shirts, and blouses. Adding this technology to a clothing item is which method of managing the product life cycle?
modifying the product
If Justin has a personal ethical philosophy where everyone has the right to know of probable defects in a product that Big Box Co. sells that relates to safety, then he would have a(n) _____ personal philosophy.
moral idealism
When the temperature outside drops below 30 degrees and you need to walk your dog, marketers might say you have a(n) ________ to put on a coat.
need
To create ________ utility for her customers, Martha decides to open The Coffee Collective close to the college campus.
place
A limited-service wholesaler that furnishes the shelves that display merchandise in retail stores, performs all channel functions, and sells on consignment to retailers is a
rack jobber
To reduce mothers' concerns about ingredients in its mayonnaise, Hellmann's successfully communicated the product's high Omega 3 content, which is known to be essential to human health. This is an example of using which attitude change strategy?
changing beliefs about the extent to which a brand has certain attributes
During the interview process with both companies, Justin learns something about a new product that Big Box Co. is producing that will directly compete with Hope Springs. Because Justin learned about the ethics of _____ and what is unethical, he will not share this information during his interview with Hope Springs.
competition
_____ forces refer to the continuum of alternate firms that can provide bottled water to satisfy the needs of the current market.
competitive
Research has found that men like to shop for electronics like wireless routers alone, while women like to get assistance on their electronics purchases. These different shopping behaviors show the impact of _____ on buying preferences.
culture
Which of the following is not one of the three phases of the strategic marketing process?
determination phase
When Julie, the marketing executive for Hope Springs, determined that market segments existed with sufficient disposable income to pay a premium for bottled water, she determined this by examining _____ forces.
economic
Consumer socialization, passage through the family life cycle, and decision making within the household are three sources of ________ influences on consumer behavior.
family
Bombas socks feature five key elements: the Y-stitched heel, honeycomb arch support, seamless toe, blister tab, and stay-up technology. Together, these features create the consumer benefits that are fundamental to Bombas' _______ strategy.
product
Mary Kay uses a sales force of independent beauty consultants comprised of nearly three million women across the globe to distribute its products, which are customized based on regional preferences. Based on this marketing strategy, Mary Kay would be best classified as a(n) ________ firm.
transnational
How much profit did the online store make on the sale of this printer?
$102 Profit = Total revenue − Total cost. The total revenue made by the store on this transaction was $274 (list price of $279 less $10 coupon plus $5 insurance). The mail-in rebate is funded by the manufacturer, not the online store. The store's total costs were $172 (printer cost of $139.50 + USB cost of $12.50 + $20 shipping). Therefore, profit ($102) = total revenue ($274) − total cost ($172).
Gary's friend has offered to give him access to the workshop and tools for free, effectively driving the overhead to $0. In this situation, what can Gary charge per table to achieve his $50,000 profit goal?
$2000 The equation to isolate price in the profit equation is: Price per table = [Profit + (cost per table x tables sold) + Overhead cost] / Tables sold. Inserting the numbers from the case, you would have: Price per table ($2,000) = [profit of $50,000 + (cost per table of $1,500 x 100 tables sold) + overhead cost of $0] / tables sold (100).
Gary's friends have talked it over and decided that they really do not think they can commit to producing 100 tables per year. His friends suggest that Gary rerun his price calculations with annual sales of 75 tables per year, which they believe is more reasonable. Assuming that Gary can still use the workshop for free, now how much would Gary need to charge to achieve his target profit?
$2167 Equation to isolate price in the profit equation is: Price per table = [Profit + (cost per table x tables sold) + Overhead cost] / Tables sold. Inserting the numbers from the case, you would have: Price per table ($2,166) = [profit of $50,000 + (cost per table of $1,500 x 75 tables sold) + overhead cost of $0] / tables sold (75).
Maybelline's makeup is modified for local skin types and weather across the globe, including an Asia-specific mascara that doesn't run during the rainy season, which is an example of a ________ global marketing strategy.
product adaptation
________ is the new-product development phase resulting after Hope Springs decided that the flavor additive had enough market interest and launched full-scale production and sales.
commercialization
Chatbots are popular on retail websites and enhance which of the seven website design elements that marketers can use to produce an effective customer experience online?
communication
Poshmark's users can attend virtual shopping parties called Posh Parties in addition to commenting on listings they are interested in. For social commerce to be successful, Poshmark understood that ________ between buyers and sellers was critical. Therefore, Poshmark made sure that sellers and buyers could easily interact about the products listed for sale.
communication
The number of silver sticks ordered for the Moisture Plus product is much lower than the number of yellow tubes ordered for the original Carmex product. With a lower purchase volume, Carmex does not receive a significant discount on the silver tubes from its suppliers. Carmex managers will use a ________ pricing approach to incorporate the price of the packaging into Moisture Plus' final price.
cost oriented
Trader Joe's doesn't authorize or sell its products online. According to a company spokesperson, "Part of the ________ is the value we are committed to providing customers, each and every time they shop our stores—great products of the highest quality at great prices."
customer experience
During its global environmental scan, Mary Kay found that the purchasing power of 18- to 24-year-old customers was increasing. This finding is an example of a(n) ________ factor.
economic
When Martha needs to compare the results of the marketing program for the Coffee Collective and then implement changes based upon what she finds, she is in the _____ phase of the strategic marketing process.
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
Sue is a soccer mom, born in 1971. She spends a great deal of her discretionary income on her children's electronics. She is part of
generation x
The Toyota Mirai is a hydrogen fuel cell vehicle which has zero emissions and a 300 mile driving range. Furthermore, the Mirai creates no greenhouse gas emissions in the break down of the vehicle which makes the Mirai an excellent example of
green marketing
Assume that the pricing manager discovered that more seats went unsold for Tuesday night games than for any other night of the week, indicating a lower demand for soccer tickets on Tuesdays. The LA Galaxy could lower the ticket price for future Tuesday night games to avoid
idle production capacity.
Among types of retailing, the advantage of the ________ form of ownership is that the owner is the boss.
independent retailer
The Coffee Collective, a(n) ________, is the most common form of retail ownership.
independent retailer
Four Seasons Hotels sell private residences in several of their properties and send direct mail to prospective residents asking them to request additional information on the telephone or through a website. In terms of direct marketing, this is known as
lead generation
Justin's products include Justin's Almond Butter, Justin Milk Chocolate Peanut Butter Cups, Justin's Cashew Butter, and Justin's Maple Almond Butter + Pretzel snack packs, among others. From a branding perspective, Justin is utilizing a
multiproduct branding strategy.
Because consumers respond more favorably to Carmex when priced at $0.99 versus $1.00, many Carmex product prices end with a 9. This demand-oriented approach is known as
odd-even pricing
Which element of the promotional mix is characterized by a customized interaction that is extremely expensive but very persuasive and likely to yield immediate feedback?
personal selling
In the _____ stage of the advertising development process, Fallon account managers and clients must set the campaign budget. Campaign budgets can range from a few thousand dollars for online advertising to a few million for a network television advertisement.
planning
If automakers attempted to change the way Justin feels about the price of hybrid vehicles in comparison to the other vehicles he is considering, this would be an example of
product repositioning
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%
________ data, or the facts and figures that have already been collected about Coffee Collective prior to the research at hand, might include previous years' budgets, old Coffee Collective marketing activities, internal sales figures, and customer emails.
Internal secondary
HealthyYOU uses ________ to conveniently distribute healthy drinks, snacks, and entrees in offices, health clubs, hospitals, schools, and colleges.
automatic vending machines
__________ are an excellent target market for Geek Squad because these consumers, born between 1946 and 1964, did not grow up with the new technology contained in today's consumer electronics.
baby boomers
If Justin were to belong to a social group that closely associates with Jet Green, the airline industry, and other customers who love flying Jet Green, he would join a
brand community
The Foreign Corrupt Practices Act of 1977 made what practice illegal?
bribing an official of a foreign government to obtain business in that country
Poshmark users are encouraged to take artistic photographs and create shoppable video clips called Posh Stories to market their clothing to their followers. These photographs and videos then become the ________ of the Poshmark site.
content
Using ________, GoPro encourages its millions of customers to submit their best content to the GoPro website to earn rewards and recognition. The resulting user-generated content is often a source of new product ideas in the idea generation stage of the new-product development process.
crowdsourcing
Prior to launching the Young Pink brand in China, Mary Kay performed a global environmental scan and identified that Chinese women were becoming more mature in their understanding of skin care and cosmetics. This finding is an example of a(n) ______ factor.
cultural
If Martha wants to determine whether or not she should offer open mic night at the Coffee Collective as part of the coffee experience, this would be an example of her
defining the problem.
Prince Sports has adopted social media marketing in its promotion strategy because social media like Facebook has a significant impact among younger customers. This is an example of how Prince is using ________ segmentation.
demographic
When Best Buy uses age, income, and size of household to segment its market, it is using _____ segmentation techniques.
demographic
Justin's Maple Almond Butter + Pretzels is sold in a single-serving molded plastic package designed to keep the almond butter and pretzels fresh. Additionally, the packaging is designed in a way such that pretzels can be easily and neatly dipped into the almond butter during consumption. This is an example of the ______ of packaging.
functional benefit
The United States wants to limit imports of European shoes by increasing the price of those shoes in the States. You advise your clients to ask the United States to
impose a tariff.
Consumers cannot hold, touch, or see an LA Galaxy soccer game before the purchase decision (the decision to purchase a ticket). The fact that the consumers cannot hold, touch, or see what they are purchasing before they commit to the purchase exemplifies the ________ of services.
intangibility
A high-low retailer like Walgreens might temporarily cut the price of Carmex tubes to $0.49, well below its customary price, to attract attention to the product and customers to the store. This temporary price reduction is an example of
loss leader pricing
The eight-second rule indicates that consumers will abandon their efforts on a website if ________ takes more than eight seconds.
page download
As Dora is packing for her honeymoon to Hawaii, she realizes that all of her sunscreens have expired. Since the sun in Hawaii is so strong, she knows she wants the best sun protection possible. She calls her friend Dan, who is a dermatologist, for a recommendation. Dora is seeking information from a(n) ________ in the information search stage.
personal source
If Mom places the highest value on convenience when looking for a cup of coffee, with which of the marketing mix components is she most concerned?
place
If Martha leveraged a ________ strategy to grow her overall business, she might develop a line of imported flavored teas and sell them at the local College Town Food Cooperative using the College Town name for the new product line.
private branding
Martha decides that ________ advertising is the best way to reach customers to tell them about the event and her outdoor patio because it is low cost, can target specific audiences, can use sound and humor—given that her message doesn't need any visual element—and doesn't include any complex information.
radio
Cici started to use a tutor to improve her grades, and her exam scores increased markedly. Her improvements on tests resulted in her satisfaction with the tutor and would be considered which variable of the behavioral learning process?
reinforcement
Spotify uses data about musical preference to suggest new music to subscribers. This use of technology aids in Spotify's ________ efforts, in which the company can gain insights into how its products create value for customers.
relationship marketing
If the online store charged $209 for the printer, what percentage discount would you have received from MSRP?
30% Percentage discount = (MSRP less your price) / MSRP. This translates to 30 percent = ($299 − 209) / $299
Sophia used the Consumer Reports website to research an economical choice for a new washer and dryer for her apartment, and she trusted the information because the website was not affiliated with the sellers of these products. This is an example of which type of information source in the purchase decision process?
public source
Assume that IBM has a relatively low unit market share for blockchain technology and that the blockchain technology industry's growth rate is extremely high (averaging 30% per year). Using the BCG business portfolio analysis framework, blockchain technology would be classified as a ________ SBU for IBM.
question mark
If the United States wanted to increase the supply of U.S. corn, cotton, and wheat in China, you would advise your clients to ask the United States to approach China about
removing a quota.
The United States wants to gain a larger share of the Japanese rice market by lowering U.S. rice prices in Japan. For this to happen, you advise your clients to ask the United States to approach Japan about
removing a tariff.
U.S. beer manufacturers want to increase exports of beer to Canada by lowering the price of U.S. beer in Canada. For this to happen, you advise your clients to ask the United States to approach Canada about
removing a tariff.
A snack food company experimented with the frequency of its advertising by working with a local cable provider. On the north end of the city, the frequency was high, while it was only moderate on the south end of town. The company then obtained the checkout scanner data from grocery stores in each part of town for comparison. This is a form of
sales test
Fallon campaign managers suggested that Arby's implement a(n) ______ as one way of measuring the campaign's effectiveness. In this evaluation technique, two versions of the television advertising copy are created and the difference in effectiveness is recorded via checkout scanner data.
sales test
Generational cohorts, racial and ethnic diversity, and culture are all considered part of _____ environmental forces.
social
_____ focuses on Hope Springs' internally focused obligations to focus on the triple bottom line of people, planet, and profits.
societal responsibility
In marketing research, the research objectives are the ________ goals of the decision maker.
specific and measurable
When Hope Springs develops its flavored water additive and uses the college town where Gabbie and Justin are students to gauge if there is ample product interest, the company is engaged in a ________ test market.
standard
________ commerce involves the payment of a fee to have products and services delivered on a recurring schedule.
subscription
Amazon's AI assistant, Google's Duplex chatbot, and Alibaba's AliMe customer service bot are examples of how some companies can actually influence environmental forces through
technological or competitive breakthroughs.
Currently the FTC and industry leaders are discussing measures to curb robocalls, or the use of autodialers to deliver a prerecorded message, further impeding the use of
telemarketing
When Jamal was looking to purchase a used Honda in the fall, he saw one with a "for sale" sign in the window near his school. Though he tried the number on the sign repeatedly, no one answered the phone and there was no way to leave a message. Marketing did not occur because
there was no way for the parties to communicate.
Frito-Lay's first research objective was to
understand why Lay's potato chip sales are flat.
Washburn Guitars makes signature series guitars to enhance the credibility of the Washburn brand. Creating signature series guitars would have a positive effect on all of the following except
unit variable cost
When its beer sales were flat, Budweiser became interested in entering the premixed cocktail segment by providing a product that would appeal to those who don't enjoy traditional beer. It launched Bud Light Lime-A-Rita, a margarita-flavored, beer-based cocktail, sold in cans and bottles and best served over ice. This is an example of
diversification
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
Identifying a target market and a program to reach it would be considered a(n)
marketing strategy
Blockchain technology is an emerging technology with potential applications in logistics, distributed ledgers, social media, financial services, and digital identification. The market for blockchain technology is estimated to reach 2.3 billion dollars by 2021, 10-times larger than the market was in 2016. In its SWOT analysis, IBM should classify the growth of blockchain market as a(n)
opportunity
The Air Force is slated to purchase 113 HH-60W aircraft from Lockheed Martin to replace its fleet of HH-60G Pave Hawk helicopters, which perform missions locating and rescuing downed pilots in hostile territory. Here, the Air Force is considered a(n)
organizational buyer
Like most firms, Toyota organizes its markets into very specific segments to better uncover and meet its consumers varied needs in a sustainable way. Toyota's segments include the standard/midsize car segment, SUV segment, truck segment, and compact car segment. Based on these segment definitions, Toyota focuses on the ________ when creating its segments.
product
Mary Kay wanted to capitalize on the growing interest in color cosmetics in China. To do so, it created the Pink Young brand for the Chinese market, which featured bold and beautiful makeup solutions for its young customer base. An example of ________, the Pink Young brand was a modification of Mary Kay's existing cosmetics brand such that Pink Young more closely aligned with the young Chinese consumers' preferences.
product adaptation
IBM's marketing plan includes a variety of marketing tools including television, radio, and newspaper advertising in addition to digital and social media. Each of these marketing tools is a part of the ________ element of IBM's marketing mix.
promotion
In BCG's business portfolio analysis, ________ require large injections of cash just to maintain their market share, much less increase it. Thus, managers must choose the right ones to invest in and phase out the rest.
question marks
The research and development team will gather important information by first using ________ data.
secondary
What was your final price for the printer?
$244 Final price = List price − incentives − allowances + extra fees. This translates to: $244 = List price ($279) − incentives ($30 rebate and $10 coupon) + extra fees ($5 insurance). Remember that, while you received a free USB cord, this was not a reduction in price; it was an added value.
Given the cost, profit, and sales estimate in the case, what price would Gary need to charge for each table if he wanted to make a $50,000 profit each year?
$2500 The equation to isolate price in the profit equation is: Price per table = [Profit + (cost per table x tables sold) + Overhead cost] / Tables sold. Inserting the numbers from the case, you would have: Price per table ($2,500) = [profit of $50,000 + (cost per table of $1,500 x 100 tables sold) + overhead cost of $50,000] / tables sold (100).
After solving the profit equation to isolate price, you have
Price per table = [Profit + (cost per table x tables sold) + Overhead cost] / Tables sold
________ data includes information collected from national TV ratings, mystery shopper experiences, and neuromarketing techniques collected for the project at hand.
Primary observational
Imagine that Toyota launched a marketing program which included Toyota donating $100 to support the U. S. Paralympic team for every Corolla purchased from a Toyota dealer. This marketing program would be an example of
cause marketing
________ is being used when you view a selection at Amazon.com and see "Customers who bought this (item) also bought. . . ."
collaborative filtering
A country club is conducting focus groups with its members to develop ideas about how to improve its pool, golf facilities, and services. The club is
collecting primary data
Traditionally, nut butters have been packaged in large cylindrical screw-top jars. Justin's also offers its nut butters in single-serving squeeze packs which helps consumers see nut butter as a high protein on-the-go snack instead of a sandwich component. Modifying the package to position nut butter as an on-the-go snack is an example of
creating a new use situation.
With brand engagement marketing, the _______ assumes control of the process.
customer
To get the most out of their Poshmark experience, "Poshers" are encouraged to engage in ________ of their Poshmark experience. To do so, Poshers first find and follow other members with similar fashion sense. Then users can receive notifications of follows, likes, comments, and reminders, which are tailored for that individual's favorite brands, categories, and sizes.
customization
In order to understand consumer purchasing patterns for Lay's chips, Frito-Lay market researchers are likely to use ________ because it analyzes large purchase history databases and coupon redemption histories looking for patterns.
data mining
Supermarkets may use ________ on information collected at checkout to determine that beer and diapers are often purchased together, and they may act on this information to place those items near one another in stores.
data mining
Streaming music subscriptions would most likely be in the ________ stage of the product life cycle.
growth
The natural and organic confectionary product category is currently in the ________ stage of the product life cycle as evidenced by increasing rate of sales growth, broadened distribution, and a proliferation of organic peanut butter cup flavors.
growth
When Hope Springs Water Co. was looking to complete the ________ phase, the company could have leveraged internal research, requested customer input, conducted a competitive analysis, or sought collaboration with another organization.
idea-generation
Because the Coffee Collective is a service organization, what it provides tends to be more of a performance than a product. Because of this, Martha must demonstrate to customers the benefits of visiting the Coffee Collective in order to overcome the ________ of services.
intangibility
Taco Bell allocates its promotional budget to 70 percent traditional media, which includes television advertising; 20 percent to digital media, which includes website development; and 10 percent to new media channels. The fact that the message consumers receive is the same regardless of which channel delivers it reflects Taco Bell's dedication to
integrated marketing communication
If Xui Li used a(n) ________ approach to screening and evaluation, she would have employees evaluate the technical feasibility of selling the additive in addition to its bottled water products.
internal
Martha decides that ________ advertising is the best way to reach customers about the event and outdoor patio because this form of advertising has video capabilities, animation to capture the audience's attention, and ads that can be interactive, even though she isn't quite sure of the effectiveness of this new medium.
internet
Blue Ginger Multi-grain Blue Rice Chips are in the ________ stage of the product life cycle.
introduction
Convection ovens for home use required consumers to learn a new way of cooking and alter familiar recipes used with conventional ovens. As a result, these ovens spent years in the ________ stage of the product life cycle.
introduction
During the ________ stage of the product life cycle, sales grow slowly and profit is minimal. The lack of profit is often the result of large investment costs in product development.
introduction
When the LA Galaxy played soccer in a stadium that seated 80,000-90,000 fans, many of the available tickets to each game went unsold and the stadium looked empty. With the larger stadium, the Galaxy had an issue with idle production capacity, an example of which of the 4 I's of services?
inventory
In the implementation stage of the promotion program, the promotion is pretested and then
it is carried out
During the creative process, Taco Bell considered a number of different slogans, finally setting on Live Mas! The Live Mas! campaign reinforces Taco Bell's position as a dynamic brand whose customers enjoy experiencing the world and trying things first. Live Mas! is Taco Bell's ________ in the communication process.
message
The name Pepsi AM suggests to consumers that the beverage should be consumed
only in the morning
A local political party made phone calls to assess its party platform. One question asked respondents to state in his or her own words what kinds of changes in firearms access and tracking would be desirable. This question would be considered
open-ended.
As part of its web redesign, Pizza Hut implemented a system to collect and store consumer information including pizza preferences, delivery addresses, and payment information. Pizza Hut also allowed consumers to opt in or out of future promotional emails on its website, an example of
permission marketing.
Bombas socks can be purchased on its website, bombas.com, in addition to being sold through retail stores including Dick's Sporting Goods, Nordstrom, and Athleta. This combination of online and offline outlets comprise Bombas' _______ strategy.
place
The bike-sharing service ofo has 200 bicycles on Vineet's college campus. He has a subscription to the service so he can simply check out a bike at one of the "boxes" painted on the concrete sidewalks on campus and return it to any box at a later time. The service encourages appropriate behavior with the bikes through a point system. Providing bikes at boxes on campus would constitute which element of the marketing mix for ofo?
place
Portfolio tests refer to
placing a test ad in a collection with several other ads, asking consumers to read through the them, and then asking them for their impressions of the ads.
A component of Prince's ________ strategy is choosing appropriate promotion and distribution strategies to influence the place a product occupies in the consumer's mind.
positioning
Kelly wore Coppertone's Clearly Shear Faces sunscreen last weekend while hiking on the Appalachian Trail. She was very pleased that, even after a full day in the sun, her face was not burned and it did not feel greasy at all. Kelly is currently in the ________ stage of the consumer purchase decision process.
post purchase behavior
By offering a free dog biscuit with each cup of coffee, The Coffee Collective entices customers to visit its shop during the pet adoption event. This represents what type of sales promotion?
premium
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
Today's Best Buy customer wants to obtain the best quality and features from their electronics purchase at the best price. Best Buy customers can be described as
value conscious
In her search for the right flight to visit her parents, Gabby learns about the Jet Green fare sale from a favorite blogger. This source of information falls under which category?
word of mouth
