Marketing Final
__________ it the promotion mix approach that involves a producer promoting a product to different channel members who in turn promote the product to the customers.
A push strategy
Dividing buyers into groups based on their knowledge, attitudes, uses, or responses to a product is called ________ segmentation.
Behavioral
A ________ is defined as a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service.
Brand
What animal is used for Bemidji State University marketing
Bucky the Beaver
_______ involves a review of the sales , costs, and profit projections for a new product to determine whether they satisfy a company's objective
Business Analysis
In which stage of the product life cycle will promotional expenditures be significantly high in on attempt to create consumer awareness of a product and it's features?
Introduction
Dividing a market into several sections of customers is known as ________.
Market Segmentation
_____ is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior.
Market Segmentation
Under Armour increasing its advertising spending and offering an ever-increasing range of styles and colors in its original apparel line is an example of a ________ strategy.
Market penetration
______ refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter.
Market targeting
The first generation Apple iPod was introduced in 2001 and sold for $500. The following year a mini version was introduced for $250. Apple initially use a ________ strategy to price their digital music innovation.
Market-Skimming
The ______ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do .
Marketing
________ are sets of interdependent organizations that help make the product or service of a company available for use by consumer or business users.
Marketing Channels
Marketing the same product to a huge customer base without any customization is referred to as ________.
Mass Marketing
Technology is a way of life for ________, the largest generational group.
Millenials
Using a ________ positioning strategy, companies can attack the more-for-more strategy of another firm by offering a brand of comparable quality at a lower price.
More-for-the-same
Which of the following terms best describes the process of designing and producing a container or wrapper for a product?
Packaging
In a promotion mix, __________ occurs when a firms sales force makes individual presentations to consumers for the purpose of promoting sales and building customer relationships.
Personal sellign
__________ is the type of promotion tool that requires s considerable degree of personal interaction with a customer
Personal selling
_______ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of the target consumers.
Positioning
_________ is the only element in the marketing mix that produces revenue
Price
____ data consists of information collected for the specific purpose at hand.
Primary
A(n) ___________ is considered a marketing intermediary.
Producer
In a marketing communication mix, ________ performs the functions of building good rapport with entities outside the company, building up a good corporate image, and handling unfavorable rumors and events.
Public relations
________ are offers of a trail amount of product
Samples
The National Tree Company offers resellers half-price reductions on artificial Christmas trees if they purchase in July. This is an example of a __________________.
Seasonal Discount
________ refer to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible
Services
The use of traditional business marketing concepts and tools to create behaviors that will benefit individual and societal well-being is called ________ marketing.
Social
The fastest growing sales trend is _____________ that involves the use of online, mobile, and social media to engage customers, build stronger customer relationships and augment sales performance.
Social selling
Managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers is known as ____________.
Supply chain management
the responsibility for setting a companies mission, objective, broad strategies, and policies primarily lies with its ____________.
Top Managers
A firm's marketing department must partner with other company departments to produce superior value for customers. (T or F).
True
A product is defined as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. (T or F)
True
A vertical marketing system consists of producers, wholesalers, and retailers acting as a unifies system. (T or F)
True
Commissions and bonuses are variable amounts of compensation. (T or F)
True
In the new product development process, the purpose of idea generation is to create a large number of ideas and the purpose of the next step is to reduce that number. (T or F)
True
Marketers must be careful to guard against stereotypes when using age and life-cycle segmentation.
True
Marketing researchers can conduct their own searches of secondary data sources by using commercial online databases. (T or F)
True
Product, price, place, promotion make up the elements of a firm's marketing mix. (T or F)
True
Sales people represent customers to a company and represent a company to customers (T or F).
True
Some marketers now rely almost entirely on digital and social media. (T or F)
True
The product-market expansion grid, like the BCG matrix, is used to identify growth opportunities. (T or F)
True
The rapid increase in the number of people who telecommute has created a booming small office/home office market in the U.S. (T or F)
True
Under oligopolistic competition, market consists of only a few large sellers (T or F)
True
According to the five-step model of the marketing process, the first step in marketing is
Understanding the marketplace and customer needs and wants
Shampoo marketers segment buyers as light, medium, or heavy product users. This is an example of ________ segmentation.
Usage rate
A ______ is made up of a company, it suppliers, its distributors, and its customers who "partner" with each other to improve the performance of the entire system
Value delivery Network
a ______ is made up of a company, it suppliers, its distributors, and its customers who partner with each other to improve the performance of the entire system
Value delivery network
Providing extra amenities to differentiate and support high-priced products is referred to as ________ pricing.
Value-aded
Costs that can change directly with the level of production are referred to as _____ costs.
Variable
_______ are the form of human needs take as they are shaped by culture and individual personality
Wants
Orienting and motivating customer-contact employees and supporting service people to work as a team to provide customer satisfaction is known as ________ marketing
internal
_____ is the final step in the marketing research process.
interpreting and reporting the findings
Companies like 3M, Google, and Sony have _______ that encourage employees to develop new ideas.
intrapreneurial programs
Consumers' needs and wants are fulfilled through ________.
market offerings
a _______ is purposeful, specifying what an organization wants to accomplish in the larger environment.
mission statement
Appliances Galore is continually updating its line of refrigerators to reflect market trends and customer needs. Although the product class is in the maturity stage of the product life cycle, they maintain healthy sales of their line of refrigerators by continually ________.
modifying the product
In which step of the selling process does a salesperson learn as much as possible about a prospective customer before making a sales call?
preapproach
In which step of the selling process does a sales person learn as much as possible about a prospective customer before making a sales call.
preapproch
which component of the marketing mix refers to the goods-and-services combination a company offers to its target market.
product
Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the product lines make up Clorox's ________.
product mix
Outbound logistics refers to moving _______________.
products from the factory to resellers and ultimately to customers.
Major appliances, furniture, and clothing are typical examples of ________ products
shopping
the presentation stage of the selling process most likely incudes ___________________.
showing how a company's product can solve a customer's problem
Dollar General profitably appeals to families with more modest means. The retailer's approach is most likely referred to as ________.
target marketing
A company that sells only one product line to one industry with customers in many locations would typically use a __________/4.
territorial sales-force structure
in a SWOT analysis, _______ refers to unfavorable external factors or trends that may present challenges to performance
threats
Movie theaters change matinee pricing during the daytime, and resorts dive weekend and seasonal discounts. This is illustrative of a ________ pricing strategy.
time-based
JetBlue's promise to put "You Above All" by "bringing humanity back to travel" is their ________.
value proposition
Which generational group accounts for a third of the U.S. population but half of the consumer spending?
Baby Boomers
____________ is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.
Advertising
Establishing prices for razor blades that must be used with a razor blade system is know as _______ pricing.
Captive-product
_______________ advertising would most likely result in attack ads between competitors.
Comparative
_______ markets consist of individuals and households that buy goods and services for personal use.
Consumer
According to the text, _______ are the most important actors in a companies microenvironment.
Customers
Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a ________.
Demand
____________ is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.
Demography
Mary Kay Cosmetics and Amway sell their products through home and office sales parties, online Web sites, and social media. Both companies use a(n) _______ channel to distribute their offerings.
Direct
______ refers to reducing the business portfolio by abandoning products that no longer fit the company's overall strategy.
Downsizing
_______ is the act of obtaining a desired object from someone by offering something in return
Exchange
High-end luxury brands like Bentley for cars, Louis Vuitton for handbags, and Rolex for watches use ________ distribution, giving a limited number of dealers the sole right to sell products in a specified geographic territory.
Exclusive
Demographic variables are generally more difficult to measure than most other types of variables. (T or F)
False
Most producers sell their goods directly to final users. (T or F)
False
Pricing Strategies usually remain the same as a product passes through its life cycle. (T or F)
False
The amount of test marketing needed is the same for each new product. (T or F)
False
The new marketing communication model consist of promotional mixes that are designed to make traditional mass-media obsolete. (T or F)
False
In which step of the selling process does a salesperson seek out, clarify, and overcome and customer disapproval to buying?
Handling objections
the new product development process usually begins with
Idea generation
Type of market segmentation that is generally used by marketers who sell luxury products targeted to the affluent segments of a population
Income
The objective of _______ advertising is to build primary demand.
Informative
________ is an economic factor that affects the pricing decisions of a company.
Interest rates
Describe product positioning
arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of the target consumers.
the stage in which product ideas are presented to groups of target consumers physically or symbolically is referred to as _________.
concept testing
In terms of packaging functions, Tiffany & Co.'s robin egg blue boxes ________.
create immediate consumer recognition
The team-based new product development approach saves times and increases effectiveness because departments work closely together in ___________.
cross-functional teams
A product life cycle has five distinct stages: product development, introduction, growth, maturity, and ________.
decline
Gulf Coast, a wholesale shrimp distributor, groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Gulf Coast tailors a different set of advertisements and promotions. The supplier is segmenting its market according to ________.
geographic location
A channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity is referred to as a(n) ________.
horizontal marketing system
What is a characteristic of in inside sales force?
in conducts business from and office via telephone
A product line is most likely too short if managers can ________.
increase profits by adding items