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Marketing Final Review

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BruceCo introduced a new blend of coffee for amateur athletes. To encourage people to try the new product, the company ran advertisements in the local newspaper. People could cut out the advertisement and bring it in to the store for a free cup of the new coffee blend. This is an example of a ___________ sales promotion?

Coupon

Selah has taken over as brand manager for a line of chewing gum. The product is very inexpensive and people treat it as an impulse purchase. Her primary promotional objective is to remind consumers that the product exists so that they will be likely to pick it up the next time they are in the mood for gum. This product appeals to virtually everybody and they have an intensive distribution strategy. Which promotional tool might work best as the primary tool in this situation?

advertising

Contrary to what you would expect, when it comes time to evaluate the results of the plan...?

It is just as bad to exceed the goal as it is to fail to reach the goal

BruceCo competes in the premium coffee market in the San Francisco area. The biggest competitor, Starbucks controls 48% of the market while BruceCo controls only 1% of the market. BruceCo is measuring _________?

Market Share

A ____________ is a collection of key marketing metrics organized in a way to highlight patterns of performance?

Marketing dashboard

Unlike personal selling, advertising is ____________?

Mass communications

A(n) ___________ is a quantifiable measure used to track, monitor, and assess the success or failure of a business practice?

Metric

Last year, BruceCo sold 1000 coffee cups for $10 each. If the cost for each cup was $4.70, what was the total revenue for BruceCo?

$10,000

Bruce is planning on selling sandwiches in class for $5 each. Food costs are $4 per sandwich. He will also need to buy an insulated cooler to store the sandwiches. This cooler costs $10. How many sandwiches will Bruce have to sell in order for this project to break even?

A search campaign for a medium-sized company is likely to involve selecting _________ key words?

10,000 or more

BruceCo is planning on selling coffee cups for $14 each. The company can buy the cups for $2.00 and have them printed for $1.50 each. The package costs fifty cents per cup. There is a one-time set up charge from the printer of $1,000. In order for the project to go forward, the company needs to show a $10,000 profit. How many cups of coffee will BruceCo have to sell in order for this project to be acceptable?

1100

Research has shown that the influence of family on the consumer buying process is very strong. This is because many of the consumption patterns we have for products are formed by the time we are ____ years old?

The rule of thumb for college level work is that to be successful, you should be putting in _________ hours outside of class for every hour in class?

2 to 3

BruceCo is planning on selling backpacks for $100 each. The company can buy the backpacks for $30.00 and have them customized for $20.00 apiece. There is a one-time set up charge of $1,000 for customization. How many backpacks will BruceCo have to sell in order to break even?

The 80/20 principle holds that...?

20 percent of all customers generate 80 percent of the demand

Bruce is planning on selling sandwiches in class for $5 each. Food costs are $4 per sandwich. He will also need to buy an insulated cooler to store the sandwiches. This cooler costs $10. Bruce needs to make a profit of $25 to make it worth his while. How many sandwiches does Bruce need to sell to make the project worthwhile?

Last year, BruceCo sold 1000 coffee cups for $10 each. If the cost for each cup was $4.70, how much profit did BruceCo make?

5,300

What is the grading structure for this class?

50% of the grade is based on mini tests and 50% of the grade is based on a comprehensive final examination

Principles of Marketing is a three credit hour class. The rule of thumb for college level work says that (in addition to viewing the lectures) you should be spending _________ additional hours studying each week?

6-9

Which of the following statements about organic search is TRUE?

90% of clicks go to organic search results.

Which of these is an acceptable form of identification for the final examination?

A San Francisco State University Identification Card

Why is an understanding of attitudes important to understanding consumer brands?

A brand is essentially an attitude about a product

Which of the following statements best describes the consumer buying process discussed in class?

A consumer trying to satisfy a need through a purchase is actually solving a personal problem.

A continuous innovation is?

A continuous innovation is all of these things

What is a customer? a. Someone who has the authority to buy your product. b. A customer is all of these. c. Someone who has the ability to buy your product. d. Someone who has the money to buy your product. e. Someone who benefits from your product.

A customer is all of these.

Which of these would be considered an indirect marketing channel?

A customer, a retailer, and a producer

Which of the following situations is probably illegal price discrimination as determined by the Robinson-Patman Act?

A gasoline refinery sells gasoline to its dealers for 50 cents less than to independent dealers because it doesn't want independent dealers selling gasoline at lower prices than the company's dealer network.

What do we mean when we speak of advertising 'campaigns'?

A group of advertisements and related promotional activities conducted over a specific period of time in order to achieve a desired outcome.

Which of the following people would most likely be a potential customer for a Ferrari luxury car? a. A millionaire who doesn't care for luxury cars. b. A teenage boy who is a huge Ferrari fan, reads everything he can about Ferrari and dreams about owning a Ferrari while working his minimum wage job after school to save up for his drivers license. c. An environmental activist who has pledged never to drive an internal combustion automobile. d. A millionaire who already owns a Ferrari. e. Your Marketing Instructor who has three kids in college and is trying to pay off his own student loans?

A millionaire who already owns a Ferrari.

What is the difference between a need and a want as described in class?

A need is a perceived lack of something, a want is a culturally defined way to satisfy the need

Which of the following situations describes a business customer?

A not-for-profit organization that buys copier paper in order to make flyers announcing a charity fundraising event.

What would a reader expect to find in the executive summary of a research report?

A one-page summary of the project including major findings

When we speak of a consumer, we are speaking of...?

A person who purchases things for personal consumption.

Which of these is NOT a role for a website in digital marketing?

A place to display content that isn't relevant to potential customers

Which of the following is tactics is most likely to encourage customers to pay your asking price for a product.

A price tag that looks like it was professionally printed.

A direct marketing channel consists of?

A producer and a customer

What is an attribute?

A quality or characteristic inherent in or ascribed to someone or something.

What is a double-barreled question?

A questionnaire item that is unclear because it combines two questions.

What is the difference between a research objective and a business objective?

A research objective provides an answer to a specific question, a management objective may require several sources of information

Price elasticity is the slope of the demand curve. When price elasticity is HIGH?

A small change in price will lead to a large change in quantity demanded.

Price elasticity is the slope of the demand curve. When price elasticity is LOW?

A small change in price will lead to a small change in quantity demanded

________________ is the basic unit of exchange?

A transaction

The value of the levels of the product concept is that the actual product can be thought of as?

A way to deliver the core benefit to the consumer.

the value of the levels of the product concept is that the actual product can be thought of as?

A way to deliver the core benefit to the consumer.

BruceCo is a company that makes products for the coffee industry. Each summer, they hire a research intern from San Francisco State University to develop an industry forecast using information published by the US Department of Commerce and other government agencies. This is an example of _____________ in a marketing information system?

Acquired databases/internet

Which of the following is NOT a functional benefit of packaging?

Acting as a silent salesperson

Every business will use a different combination of promotional tools. The actual tools selected will depend on?

Actually, it depends on all of these.

In order to be useful, criteria used to measure progress toward a goal should be all of these EXCEPT?

Adaptable

Which of the following forms of promotion gives marketers the greatest degree of control over the message?

Advertising

________________ is paid messages placed in any of the mass media by an identified sponsor in order to persuade members of a particular target audience about products or ideas?

Advertising

Sales data is frequently used as a metric in marketing plans. Which of the following is NOT a commonly used sales measure?

Advertising expenditures

When are the mini tests due?

After the material has been presented in class

Carlina operates a wholesale flower market serving florists in her city. She orders her roses from Ecuador because the quality is good and the prices are very competitive. Because the roses become unsalable after a day or two, Carlina uses _________ transportation for this part of her business?

Air

Which of the following statements about motivation is FALSE? a. People are not always aware of their true motivation b. All needs are equally motivating c. Psychological needs are a basic source of motivation d. Physiological needs are a basic source of motivation e. All of these statements about motivation are false.

All needs are equally motivating

What is the market for a specific product?

All of the potential customers for the product.

Which of the following services is a full-service advertising agency likely to provide?

All of these - that is why they call it a full-service agency

Which of these is NOT an advantage of digital marketing when compared to traditional marketing?

All of these are advantages of digital marketing when compared to traditional marketing

Which of the following is NOT a common application of marketing analytics programs?

All of these are applications of marketing analytics programs.

Which of the following pairs would NOT be considered to be complementary products?

All of these are complementary products

Which of these is a major constraint to consider when developing a research plan?

All of these are constraints to be considered when developing a research plan.

Which of these is NOT a typical discount or allowance applied at the time a product is purchased?

All of these are discounts or allowances applied at the time of purchase.

Which of the following statements about the bin theory or memory is FALSE? a. Over time, one item becomes the category label b. Repetition keeps you near the top of the category c. All of these statements about the bin theory of memory are true. d. We remember things in categories e. Memories are stored in chronological order

All of these statements about the bin theory of memory are true.

Which of the following statements about the bin theory or memory is FALSE? a. Repetition keeps you near the top of the category b. All of these statements about the bin theory of memory are true. c. We remember things in categories d. Memories are stored in chronological order Incorrect e. Over time, one item becomes the category label

All of these statements about the bin theory of memory are true.

Which of these statements about the introductory stage of the product life cycle is true?

All products start the introductory stage start by losing money.

A marketing channel always includes?

An end user

it is not unusual for experienced salespeople to tell a joke or an interesting anecdote before 'getting down to business' with the customer. These people recognize the importance of the ___________ stage of the personal selling process?

Approach

Which of the following is one of the two questions that should be answered when evaluating a marketing plan according to the material presented in class?

Are there things we could have done better?

In the three circles positioning framework presented in class, what does "the bar" represent?

Areas where you need to be competitive, but will not give you a competitive advantage

____________ describes the process a sales manager uses to help a new hire become familiar with the culture and procedures of the sales force?

Assimilation

When is the best time to establish a metric to measure the performance of a promotion?

At the time the promotion objective is established

Which of the following statements about attitudes is FALSE?

Attitudes become more favorable over time

In the context of "big data," we would expect marketing analytics to include all of the following EXCEPT...

Automatic implementation of recommendations.

Bruce went into an appliance store to purchase a 32" LCD tv for $249 as advertised online. When he got to the store, he was told that all of the $249 tv's had been sold, but there was a 32" LCD tv available for $299 that he could purchase today. Bruce may have been a victim of?

Bait and switch pricing

Which of the following is NOT a factor that drives competition in an industry?

Bargaining power of employees

Which of the following statements about Maslow's Hierarchy of Needs is TRUE?

Basic needs such as Physiological and safety have to be satisfied before higher-level needs become motivators.

Why did your instructor make the point that you can't just have "attitude"?

Because an attitude always has to be about something

Which of the following statements comparing the consumer buying process to the business buying process is TRUE?

Both businesses and consumers solve problems using a five-step process.

Which of the following assumptions about using ethnicity as a segmentation variable is correct?

Both race and culture play a role in consumption patterns.

Which promotional role might be most appropriate for a product in the post-purchase behavior stage of the consumer buying process?

Build Relationships

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company define the marketing strategy for and determine the projected income from a new product?

Business analysis

When it comes to carrying inventory in the fashion industry, which approach tends to be the most profitable.

Carry just enough inventory to meet anticipated demand. This will allow you to capitalize on the demand that has been created for the product without the expense of getting rid of excess inventory at a discount. That may hurt the brand's image.

The basic communication model describes how a message is transmitted from a sender to a receiver. The __________ is the medium used to transmit the encoded message to the receiver?

Channel of communication

As a rule, when it comes to choosing between advertising media, the higher the _________, the higher the cost?

Channel richness

Developing a ______________ involves identifying critical points in the plan, anticipating what could go right or what could go wrong and determining in advance what course of action you will take?

Contingency plan

Adam had an idea for a new smartphone accessory. He showed his idea to ten of his friends. Three of them loved the idea, four of them thought it was OK, but nothing special and three of them hated the idea. If he develops the product, he will need to sell at least 10,000 in order to make money. He was wondering whether or not to develop the product when he remembered the law of large numbers from Professor Robertson's marketing class. Based on that, he decided to __________?

Continue to develop the product knowing that because there are millions of smartphone users, there will probably be a large enough group who like the product for it to be successful.

Companies frequently develop new products by combining two different technologies to come up with a product that represents a dynamically continuous innovation. This is known as _____________?

Convergence

A ____________ is a retail concept where two or more stores are owned and operated by the same company?

Corporate Chain

In a multi-market, multi-product firm such as the Nestle Corporation, what is the highest level at which strategic planning might take place?

Corporate level

When dealing with logistics there is a fundamental trade-off between ________ and ________. The goal is to keep one high and the other low, but they tend to increase together.

Cost, service level

Which of the following typically a responsibility of the marketing function in an organization?

Create need-satisfying offerings

The goal of a marketing channel is to?

Create the most efficient way to move products from producer to consumer

According to a Harvard Business Review article by Nohria and colleagues, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies develop a performance oriented ____________?

Culture

Which of the following statements about value is FALSE? a. One can increase value by reducing the cost of acquiring a benefit b. Customers who fail to perceive the benefit a manufacturer designed into a product may have an incorrect perception of its value to them. c. Value is entirely based on the customer's perceptions d. In order to have value, the benefits must outweigh the cost of acquiring them e. No two people will value the same product in exactly the same way.

Customers who fail to perceive the benefit a manufacturer designed into a product may have an incorrect perception of its value to them.

Unlike a product advertisement, an institutional advertisement may have __________ as an objective? Select one:

Damage control

The goal at the ______________ stage of the product life cycle is to maximize profit without investing a lot of resources in the product.

Decline

Bruce recently went to the eye doctor because he couldn't see clearly enough to do the sudoko puzzle on his iPad. He could see well enough to drive, just not well enough to do the puzzle. His eye doctor said he had presbyopia, a condition that is common in people who are middle aged. The doctor said that Bruce could continue to do the crossword puzzle, but he would need to wear reading glasses. Clearly, a manufacturer of reading glasses would benefit from using a ______________ segmentation approach.

Demographic

Many complicated products such as computers or automobiles are assembled using many component parts. Once a sales forecast for the main product has been established, it is relatively easy to estimate sales of the component products because of the ____________ characteristic of business markets?

Derived demand

The first step in using the levels of the product concept is to:

Determine what is the core benefit the consumer will receive from the product

What is the easiest way to become the category leader for a product category?

Develop a brand new product that is different from anything else on the market.

BruceCo is a coffee shop selling custom-brewed coffee to walk-in customers. In order to boost sales, Bruce started a business selling music CD's on the internet. This is an example of the ____________ growth strategy?

Diversification

The product market growth matrix suggests four strategies based on customers and products. Which of the following is the riskiest of the basic strategies suggested by this approach?

Diversification

The value of having a lot of offerings within a product line is?

Each product satisfies slightly different needs which allows you to target different market segments within the product category.

When a new product is being adopted by the ____________ , you could say it has become reached the mass market.

Early majority

Many students are confused by the structure of this class. You have the option of viewing the lectures any time, but viewing the lectures is not required. You may take the tests whenever you want during a two-week window. A common mistake is to assume that because the class is convenient, it must be __________ and you can take __________. This is not usually true.

Easy, shortcuts

BruceCo makes novelty products such as whoopee cushions and plastic vomit. The company sells about $2 million dollars worth of product. The major customers for BruceCo products are small independent novelty shops that will typically order less than $200 worth of product at a time. Adding an intermediary to the marketing channel could add value through _________?

Economy of transactions

The basic communication model describes how a message is transmitted from a sender to a receiver. In order for this to happen, the message has to be _________ by the sender and ________ by the receiver?

Encoded, decoded

Which of the following is NOT a requirement of a market segment?

Environmentally responsible

Erik is going to buy a pair of running shoes. Which of the following factors would lead you to believe that buying running shoes is a HIGH involvement decision for Erik?

Erik really isn't into running but a friend told him that he needed to have the right kind of footwear or he would be perceived as a loser by his friends

One of the strategies during the decline stage of the product life cycle is to sell the product to another company or simply to stop producing the product. This strategy is called?

Exiting the market.

Even if you have never seen a product before, you may have a sense of what it should sell for based on similar products that you have experienced in the past. Marketers need to be aware of this ___________ when they set prices for new products?

Expected price

Although you have the ability to decide whether or not to do business with a particular supplier, you can't tell the supplier how to run his or her business. This is why suppliers are part of the?

External microenvironment

The ______________ deals with factors that affect your company, but are beyond your ability to control directly?

External microenvironment

Bruce ordered a test bank from teachersupplies.com. The cost of the package was $39.95 plus sales tax (you are responsible for California sales tax, even if you order online). He chose to have the product shipped via UPS ground because it was the least expensive shipping option. Teachersupplies.com is using a ___________ approach to geographic pricing?

FOB (free on board)

All (or most) customers are consumers

False

You must be registered in section 1 of Marketing 431 to be allowed to attend the live lectures.

False

_____________ is when a business uses one brand name to cover a variety of products?

Family branding

Wilma is developing a website where people can buy or sell gently used baby clothes. Wilma will certainly include include ___________ as a segmentation variable.

Family life cycle

The three steps for developing a market position (or for developing any strategy, really) are?

Figure out where you are now, figure out where you want to end up, develop a plan to get you from where you are to where you want to be.

Bruce Company is a small startup with just enough money in the bank to get it through the end of the month. Which market entry strategy might work best for Bruce Company?

First mover strategy, it is riskier and Bruce Company has little to lose if it doesn't work out.

____________ are the costs of production that do not change with the number of units produced?

Fixed costs

Bruce went shopping at the Hermes store in New York City. This is a very high end fashion store. When he entered the store, an associate asked him what he was looking for. She then escorted Bruce to the neckwear department and had him sit (with a cup of coffee) while she brought out a selection of neckties she thought he might like. After Bruce paid for the neckties, the store had the packages shipped to Bruce's hotel. This is an example of _____________ retailing?

Full service

A storage warehouse creates value by?

Holding inventory closer to where customers are likely to use it.

Tami owned the Subway franchise in Centennial Village at San Francisco state University. She heard that another franchisee had been granted permission to open a Subway in the student union. She immediately complained to whoever would listen to her that the new store would take away most of her business. This is an example of?

Horizontal conflict

Perception deals with...?

How we interpret the world around us

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company be seeking input from customers, following up on complaints, listening to employees, analyzing market research and monitoring competitors?

Idea generation

Grocery stores frequently put new products in high visibility locations such as the end of an aisle or near the checkout lanes. This makes consumers who might be thinking about buying a similar product aware of the new product. This tactic affects consumers who are in the _________ stage of the consumer buying process?

Identify alternatives.

What was your instructor talking about when he suggested using the "Facebook" standard to determine whether or not a decision you made is ethical?

If all of your Facebook friends, including your mother, will know what you did; what choice would you make?

What is the 80-20 rule?

In general, 80% of your business comes from 20% of your customers

Which of the following is NOT a reason a company might want to have more than one marketing channel?

In order to earn back money that otherwise would have been earned by your retail network.

What is a major disadvantage of the market factor analysis method of forecasting?

In order to use it, there has to be a known market factor that correlates with your product's sales.

A major disadvantage of _________________ is that it can be very expensive to create a unique brand identity for each product.

Individual product branding

Proctor & Gamble creates a separate brand identity for each product they bring to market. This strategy is called _______________.

Individual product branding

Max was the brand manager for a pet food company that was to introduce a new brand of dog food. Through research, they had discovered that many dogs do not get enough exercise and this new dog food had stimulants added to give these sedate dogs energy. He thought of the brand name "Jump Start Your Fat, Lazy, Puppy" and asked your opinion. You said?

It is not a good brand name because it is too long.

In class, your instructor presented research about businesses showing profit leaders generate 39% of sales from new products while profit laggards generate 23% of sales from new products. What was the point he was trying to make?

It is really important for businesses to develop new products.

What is the difference between a relationship and an exchange?

It may be good business to lose money on a transaction in a relationship, it is rarely good business to lose money on a transaction in an exchange.

What do we mean when we speak of a "defensible" decision?

It was the best alternative given the information available at the time.

____________ in the diffusion of innovations process are less influenced by advertising and more likely to consider word of mouth information when deciding to adopt a new product.

Late majority

One of the issues in order processing is ________ which recognizes that customer orders cannot always be filled immediately?

Lead Time

People may not be conscious of their true motivation for purchasing a specific product. This is especially true for socially consumed products such as luxury cars and designer fashions. They may say they are purchasing these products because they are of high quality or an excellent value. The real reason is more likely to be:

Luxury products are a way for them to maintain their self image.

In an oligopoly situation, where the demand curve for the product is kinked, what is the best strategy to increase profits?

Maintain price and reduce costs.

The first thing to do when a customer asks a difficult question during the sales presentation is to?

Make sure you understand the question

When it comes to services, quality is measured in terms of?

Meeting or exceeding the customer's expectations.

One of the strategies during the decline stage of the product life cycle is to stop spending money on advertising continue to sell the product as long as customers are willing to buy it. This strategy is called?

Milking the product.

Which of the following statements about the ethical legal framework is TRUE?

Most business decisions are made in private

The grade for this class is based on:

Multiple choice tests

One way to segment markets for business customers is by industry type. This approach is attractive because of __________ which makes it cost effective to measure the number of potential customers in an industry?

NAICS codes

Sergio is the head designer for 'Robertson House' a high-fashion clothing company. Each year, Sergio completely changes the colors of the clothes he designs so that it will be obvious to anyone who has fashion sense that last years colors are out of date. This "planned obsolescence" tends to affect consumers at the _________ stage of the consumer buying process.

Need recognition

Which of these statements about needs vs. wants is TRUE? a. The greater the sense of urgency, the more likely a person is dealing with a need rather than a want. b. Professional marketers make a careful distinction between needs and wants. c. Needs deal deal with strong motivations while wants deal with weaker motivations. d. All of these statements about needs vs. wants are true. e. Needs deal with basic drives while wants are influenced by a person's social situation.

Needs deal with basic drives while wants are influenced by a person's social situation.

When using a SWOT analysis, a threat is an issue that is?

Negative External

Which of the following is one of the four basic roles for a salesperson?

New customer development.

Which of these theories explains how individuals decide to purchase new products?

New product adoption

Marketers of ___________ and __________ products have to use intrusive advertising in order to make consumers aware of them at the appropriate point in the consumer buying process?

New, unsought

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company typically determine the relative importance of new product development to the overall goals of the organization?

New-product strategy development

Bruce has always wanted to own a Ferrari automobile. For him it will always be a dream because he will never be able to afford to buy one unless gets a better job and saves his money for several years. Is Bruce part of the potential market for Ferrari automobiles?

No because he does not have the money to buy a Ferrari.

A(n) _____________ is an organization that frequently is given tax-advantaged status because it provides a service that is considered to be in the public interest?

Non-government organization

In many market situations, such as an oligopoly or monopolistic competition, there is a very strong expectation of what the price for a product should be. In these situations, many businesses engage in ____________ by using advertising, free-product offers or bonus packaging to differentiate their product.

Non-price pricing

Direct mail, catalog sales and vending machines are all examples of?

Non-store retailing

Which of the following statements about Optimization is TRUE?

Optimization is a continuous process

Which of the following is NOT a component of the promotional mix?

Packaging

The two approaches to search engine marketing are _________ and ________?

Paid search, organic search

The ____________ approach to new product pricing sets prices low in order to gain market share and discourage competitors from entering the market?

Penetration

One of the main ADVANTAGES of observational data collection is?

People frequently are unaware or unable to say what their true motivation is.

Age cohorts are an effective basis for market segmentation because

People in the same age group share many similar experiences which could affect their consumption patterns

Which of the following statements about the result of cognitive miserliness is TRUE?

People will choose the first acceptable solution to a problem rather than choosing the best solution to a problem.

What is the essence of the loss aversion principle?

People will work harder to avoid a loss than they will to achieve an equivalent gain.

A brand can be thought of as a promise you make to your customers. In order for the brand to be successful, the promise must be _____________?

Perceived as valuable to your customers.

Which of these approaches to establishing a promotions budget is the one most commonly used in business?

Percentage of sales

One of the ways personality is useful to marketers is to use ___________, or enduring characteristics such as innovativeness, self-confidence, sociability, which will vary from person to person; as segmentation variables.

Personality traits

The two basic sources of motivation discussed in class are?

Physiological, Psychological

_________ utility exists when a product is readily accessible where potential customers need it

Place

Which of the following is NOT one of the four roles for promotion?

Positioning

Many consumer products include a toll-free number on the package that you can call if you experience any problems with the product. In addition to assuring customers during the decision stage, this customer service number helps consumers during the ________ stage of the consumer buying process?

Postpurchase behavior

When using the consultative approach to selling, part of the _____________ stage of the personal selling process involves developing a proposed solution to meet the customers need?

Presentation

Colgate Palmolive created a special package that included a free regular-sized tube of toothpaste when you purchase a family-sized tube of toothpaste at the regular price. This is an example of?

Price bundling

As long as an action is ____________ some people will do it even if it is considered to be illegal or even unethical?

Profitable

______________ is all of the communication to support the marketing program.

Promotion

When it comes to retail, the price-value heuristic means that when you are in a store that has what you perceive to be high prices; you would expect to receive exceptional ________?

Service

Which of these is NOT a measure generally used in marketing?

Share of budget

Consumers might put significant effort into purchasing a _____________?

Shopping product

The key to success with the ____________ approach to selling is to contact as many people as possible and hope that one of them will be interested in your product?

Shotgun selling

Which of the following sampling techniques is a nonprobability sample?

Snowball sample

Why is it important to understand the assumptions that went into the research when you are making recommendations?

So you don't overgeneralize - or read more into the data than is actually there

One of the barriers to creating intelligence within an organization is?

Sometimes people don't do the paperwork asked of them.

A dynamically continuous innovation is?

Somewhere in the middle of the new product continuum

One of the ways intermediaries create value is to?

Specialize in one or more channel functions in order to become better at it than others in the channel.

Chun has developed a line of insect repellent with no bad chemicals in it. She used psychographic segmentation to define her primary segment as environmental activists. Which of the following is the WORST way that Chun could communicate with this segment?

Sponsor a fishing tournament where the first prize is a sport utility vehicle

The thing that distinguishes advertising from public relations is that advertising communications are ____________?

Sponsor identified

A _______________ is a public relations activity where a company makes a financial or in-kind contribution to another organization in exchange for public recognition of the company's association with the organization?

Sponsorship

_______________ is the process of determining what an organization is, who it serves, what it does, and why it does what ti does, with a focus on the future?

Strategic planning

A major difference between a business plan and a marketing plan is that a Business plan will include ________ while a marketing plan will not?

Strategies for each functional area

The ____________ component of the external macro-environment deals with inventions or innovations from applied science or engineering research?

Technological

There are many factors that influence the evolution of retail concepts. Certainly in the past few years, ____________, especially the widespread diffusion of the Internet has had a huge impact on the retail landscape?

Technology

An outcome measure?

Tells you whether or not you achieved your goal

What do we mean when we say that, from the consumer perspective, new products span a continuum from small, incremental changes to radically different products?

That 'newness' is hard to define and new could mean different things for different products.

What is the point you instructor was trying to make when discussing the law of "truly large" numbers

That if you have a large enough group of people there will probably be subgroups who are similar to each other at least in the way they perceive your product.

What did your instructor mean when he mentioned the concept of cognitive miserliness?

That people do as little 'thinking' as possible when making a decision.

What do we mean when we speak of a "bad click" in search engine marketing?

That the person who responds to our online ad has no interest in our product

What do we mean when we speak of a "bad click" in search engine marketing?

That the person who responds to our online ad has no interest in our product.

Which of these is NOT an advantage of digital marketing when compared to traditional marketing?

The ability to know the identity of visitors to your website.

The augmented product in the levels of the product concept refers to:

The actual product along with other features such as a service guarantee and cool packaging that enhance the value of the core benefit delivered to the customer.

Two things to consider when developing a brand are?

The brand experience and the brand expression.

The actual product, in the levels of the product concept refers to:

The bundle of tangible and intangible attributes we normally think of as the product.

The supply chain centers on the producer. Downstream activities consist of?

The flow of finished product from the producer to the end user

The supply chain centers on the producer. Upstream activities consist of?

The flow of raw materials from the supplier to the producer

Which of the following statements about professional buyers is FALSE?

The goal of the professional buyer is get the lowest purchase price.

What do we mean when we speak of the length of a product line?

The number of choices within a product category

What do we mean when we speak of the richness of an information channel?

The number of different information cues the cannel can carry.

How many segments should a company target?

The number that allows you to maximize profits with the resources available to you.

What do we mean when we say a customer has the resources to buy a product?

The person has the time, money and authority to make the purchase?

Which of the following statements about the product life cycle is TRUE?

The product life cycle deals with aggregate demand over the lifetime of a product.

When I was a young man (not too long ago) Big Box retailers - very large, free-standing specialty stores were very popular. Today many of these stores such as Toys'R'us and Party Supplies Warehouse, stand empty. This could be explained according to ____________?

The retail life cycle

Which of the following conditions make it favorable for a retailer to launch a store-brand?

The retailer has a solid reputation for quality products

Which of the following is NOT one of the 'rights' included in The Consumer Bill of Rights proposed in the 1960s?

The right to cancel a purchase

Which of the following is NOT one of the 'rights' included in The Consumer Bill of Rights proposed in the 1960s? a. The right to be safe b. The right to have a choice c. The right to cancel a purchase d. The right to be heard e. The right to be informed

The right to cancel a purchase

With _________________ the roles of the various channel partners are specified by a formal contract.

The roles of the channel partners are specified by contract in all of these situations.

What do marketers mean when they speak of a "consideration set" ?

The subset of the alternatives identified during the search phase that the consumer evaluates before making a decision.

Which of the following is a major disadvantage of the market testing approach to forecasting.

The time it takes to conduct the test market may put you at a competitive disadvantage in the marketplace.

Which theory of retail evolution proposes that retail stores start out as low-price low-status stores and then gradually move upscale as the business grows?

The wheel of retailing

Which of the following is a condition necessary for an exchange to occur?

There must be at least two parties involved.

Which of the following is an example of a direct marketing channel?

These are all direct channels of distribution.

A successful brand adds value to a product because...?

These are all expressions of the value of brand equity.

Reference groups are important to Marketers because...

They serve as information sources and influence opinions

Iago and Desdemona were merchants selling a variety of goods in Venice Beach. They felt they had saturated the local market and were thinking of expanding their business to a nearby community. What factors should they consider as they decide which geographic segment to enter next?

They should consider all of these factors.

Which of the following statements about the AIDA model of persuasive communication is TRUE?

This is a sequential process; all persuasive messages have to go through the four stages.

Which promotional role might be most appropriate for a product in the decline stage of the product life cycle?

This is a trick question - a company is unlikely to spend money on promotion when a product is in the decline stage.

Which of the following is one of the three typical uses for information in a marketing information system as described in class?

To generate routine reports showing progress toward meeting marketing goals.

For new products that have a major benefit to the customer, but the benefit is not obvious by casual inspection, ____________ becomes an important factor in whether customers will adopt the new product?

Trialability

Carlina operates an automobile parts manufacturing plant in Chillicothe, Ohio. She has automotive customers in Michigan, Ohio, Tennessee, Georgia and Indiana. Because most of her customers insist on Just In Time inventory management she needs to know exactly when the shipments of her product to the customer will arrive. Carlina uses _________ transportation for this part of her business?

Truck

CPM, or cost per 1000 impressions is a way to compare the cost of different advertising media.

True

Companies that take a proactive approach to new product development see new product development as critical to their success.

True

Information in a marketing dashboard is usually displayed graphically.

True

Many of the concepts covered in marketing apply to your personal life as well as to your professional career.

True

You don't have to have a product that appeals to everyone in order to have a successful business.

True

Which of these stores might want to locate next to each other in order to increase traffic for both of them?

Two automobile dealerships

Which of the following statements about value is TRUE?

Two different customers might have different perceptions of the value of the same product.

Which of the following statements about value is TRUE? a. Two different customers might have different perceptions of the value of the same product. b. The higher the quality of a product, the more valuable it will be. c. Value is the actual cost minus the perceived cost of a product. d. Customers might not be able to perceive the full value of a product unless the manufacturer explains how to use the product. e. Value is engineered into a product at the design stage.

Two different customers might have different perceptions of the value of the same product.

When it comes to managing services, some people find it helpful to think of it as a service encounter with roles for both the service provider and for the customer. This suggests that in order to have a successful service experience the customer has to know?

What he or she is expected to do in order to create the service.

Which of the following is a strategic issue relating to personal selling a sales manager needs to address?

What is the role of the salesforce in the promotional mix?

which of the following is a strategic issue relating to personal selling a sales manager needs to address?

What is the role of the salesforce in the promotional mix?

There are two things you need to know about a number if you are planning on using it as a metric. One of them is?

What is the trend?

Before you can measure the quality of a service, you need to understand?

What the customer expects from the service.

The first stage of the consumer buying process is: a. Where a consumer regrets having made the purchase after it is over with. b. Where a consumer weighs the pros and cons of different products. c. Where the consumer finds the resources to be able to make a purchase. d. Where a consumer looks for different ways to solve a problem. e. Where a consumer realizes that there is something he or she lacks.

Where a consumer realizes that there is something he or she lacks.

People have two decisions to make when they use products to solve a problem. One of them is?

Whether or not to make a purchase?

One of the differences between e-mail marketing and paid search is...?

With e-mail marketing, you know in advance who will be receiving your message

Which of the following forms of promotion is the most influential?

Word of mouth

BruceCo is an inventory liquidator. The company identifies other businesses that have huge amounts of unsold inventory and buys it from them at pennies on the dollar. They then try to find another company that can use the inventory and sell it to them at a profit. What makes this business so fun is that you never know from day to day what product you will be dealing in or who might be a prospective customer. What type of wholesaler would BruceCo be considered?

Work with a broker to negotiate deals with any customer who wishes to purchase what BruceCo is trying to liquidate.

BruceCo makes novelty products such as whoopee cushions and plastic vomit. The company sells about $2 million dollars worth of product. The major customers for BruceCo products are small independent novelty shops that will typically order less than $200 worth of product at a time. Which of these marketing channels would be the best for BruceCo to adopt?

Work with a distributor who carries a variety of products sold in novelty shops.

Price elasticity is the slope of the demand curve. When price elasticity is LOW?

You can increase revenues by increasing prices

The point of discussing the different bases for segmenting markets was?

You can use any combination of segmentation variables to develop market segments that work for your organization.

Which of these statements best describes how key words are purchased in search engine marketing?

You can't know for sure how much you will pay for a specific key word, but you can know how much you can spend for key words on a specific day.

One of the disadvantages of bringing a discontinuous innovation to market is?

You may have to spend a lot of effort helping customers understand the value of the new product.

You said all of these things, and meant them.

Which of the following is NOT an example of a third-party provider of logistics?

a design firm

Which of the following is a condition necessary for exchange to occur?

a means of communication

What is a need?

a perceived lack of something

Companies that have several products in the same category might use ____________ as a way to establish different positions for each product in the category in the mind of the consumer?

a price line strategy

For many products such as candy bars, there is a price consumers expect to pay for the product. Companies using the _____________ to setting prices will use this price as a basis for positioning their products as prestige or value brands?

above or below approach

Which of the following is NOT a functional benefit of packaging?

acting as a silent salesperson

In order to be useful, criteria used to measure progress toward a goal should be all of these EXCEPT?

adaptable

Which of the following is an inside sales job?

all of these are inside jobs

The best understanding of market dynamics comes when sales is expressed in?

both dollars and units

A(n) _____________ is a name, term, design, symbol, or any other feature that identifies one seller's goods or services as distinct from those of other sellers?

brand

When I go to the grocery store, I see several different types of Cola products. In addition to Coke and Pepsi in various shapes and sizes, there is RC cola and a store brand of Cola as well. This is an example of ___________ competition?

brand

The _________________ is the customer's perceptions of, and interactions with the brand?

brand experience

Kendra runs a wholesale distribution center for candy. Each week she receives a truckload of candy from her supplier and unpacks it so that her customers only have to buy a case at a time. Kendra is adding value by ___________?

breaking bulk

Time has an impact on purchase behavior both from a "ticking clock" perspective and from a ____________ perspective?

calendar

Which of the following is NOT a question suggested by ethical legal framework for evaluating marketing decisions?

can i make money doing it?

Hewlett Packard makes a variety of inkjet printers for personal computers. You can buy a basic 'all in one' printer that scans, copies and prints for less than $99. Replacement ink cartridges from Hewlett Packard cost between $30 and $60 depending on whether it is black and white or color ink. This is an example of _____________?

captive pricing

In marketing channels where there are both large players and small players, a(n) ___________, usually the largest member of the channel will assume responsibility for coordinating activities in the channel?

channel captain

The LOWER the ___________ the more likely people will be to adopt your new product?

complexity

BruceCo's marketing information system is powered by a Tianhe-2 supercomputer and features a wireless intranet that is available 24/7 for any manager equipped with a company-issued smartphone. This is an example of the ___________ component of a marketing information system?

computer hardware and software

Which of the following is NOT a source of information for a typical Marketing Information System?

computer systems

Which of the following research techniques is most likely to be used in Causal research?

controlled experiment

____________, is the amount of money a consumer has after paying taxes?

disposable income

During the _____________ stage of the fashion cycle, mass produced fashions are available at lower prices.

economic

If I were scanning the _____________ environment, I would be interested changes in the consumer confidence index?

economic

Wal-Mart's basic strategy is to provide products to customers at rock bottom prices. Thus their slogan, "Always Low Prices." In order to achieve this strategy, Wal-Mart's Supply chain is designed to maximize ___________?

efficiency

The basic trade-off in logistics is between ________ and ________?

efficiency and responsiveness

One of the dimensions customers use to evaluate service quality is _____________, or caring, individualized attention to customers?

empathy

encoded, decoded

__________________ is the process of systematically monitoring internal and external data that may have an impact on future plans?

environmental scanning

One of the difficulties in determining ethical behavior in marketing is that ____________; the clandestine collection of trade secrets or proprietary information is both illegal and unethical; while collecting marketing intelligence about your competition is necessary?

espionage

When faced with a decision, ___________ are the moral and legal principles that serve as guidelines on how to behave?

ethics

Which of these is a reason consumers frequently give to justify unethical consumption?

everybody does it

Attitudes are permanent

false

In automating a manufacturing plant, which of these would definitely increase in the short run?

fixed cost

Shamiya is the marketing manager for a leading mattress manufacturer. She is in the process of developing a market segmentation scheme for her company. Because delivery costs are very high for mattresses, she is likely to consider ______________ along with other variables as she develops her plan

geography

The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The FIRST thing you have to do is?

get the person's attention

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers. She stamps a date sticker on each package so the retailers will know how fresh the candy is. She also provides information on how much cocoa is in the chocolate from the various manufacturers. Kendra is adding value by ___________?

grading

_____________ involves a company's efforts to differentiate based on environmentally practices?

green marketing

The goal at the ______________ stage of the product life cycle is to build market share and differentiate the product.

growth

When using the ______________ approach to selling, the salesperson will encourage the customer to make a decision quickly, so that the customer doesn't have a lot of time to think things over or to change his or her mind?

high pressure

______________ is still used successfully today, especially when dealing with expensive, one-time purchases; even though most marketers consider it incompatible with relationship building?

high pressure selling

Which of the market structures best describes the current state of retailing in the United States?

highly concentrated

_____________ is a guerilla marketing tactic where a company that is not a sponsor of an event will behave in a way that people might think they are in fact a sponsor of the event?

hijacking

Desiree knows that she does not have very much money. Yet she dreams of being rich and famous like one of those Hollywood stars you see on television all the time. Her one luxury is to buy fashionable designer dresses just like those worn on her favorite television shows. Desiree's desire to be seen as a high-fashion person is motivated by her ____________?

ideal self-concept

The second stage of the consumer buying process is?

identifying potential solutions to the problem.

Which of these statements best describes the basic norm of business ethics?

in general, people are honest

A ____________ is a retail concept where, typically a smaller retailer provides highly personalized service through a single retail outlet?

independent store

_____________ are business customers who purchase goods to incorporate them into other products for other businesses to use.

industrial markets

Bruce is trying to sell his new "Bruce's Blend" of coffee to Starbucks. He met with the buyer and the buyer arranged for Bruce to serve a sample of his new blend to a group of 'tasters' who will taste the coffee and tell the buyer whether or not they think it is any good. These tasters are performing the role of ___________?

influencer

One of the ways to leverage brand equity is to engage in ____________ where you allow others to use your brand name for a fee or other compensation?

licensing

A(n) _____________ specifically excludes things, such as damage caused by the customer, from warranty coverage?

limited warranty

A company using a ____________ strategy creates several individual brands in the same product category?

multibrand

Many airlines advertise low prices on the internet. When you actually book the ticket, you may find that there are destination charges, service, fees and other costs that significantly increase the cost of the ticket. The airlines use this _________ tactic to make their prices appear to be lower to customers who are comparing prices.

multiple price

A(n) ______________ is an organization created to provide a public or mutual benefit other than the pursuit or accumulation of profits for investors.

not-for-profit

A(n) ______________ is an organization whose business purpose has been designated as being in the public interest and may have received preferential tax status?

not-for-profit

A (n) ______________ is a long-term accomplishment that the organization wants to achieve?

objective

A/B testing is a process used for ______________ in digital marketing?

optimization

______________ search results appear without any payment from a sponsor?

organic

Which of the following is NOT one of the dimensions customers use to evaluate service quality?

price

The product life cycle consists of two curves which show the expected _________ and ________ of a product over time.

sales, profits

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company identify feasible ideas and turn them into product concepts?

screening and evaluation

If I were scanning the _____________ environment, I would be interested in the trend where multi-generational households are increasing?

socio-cultural

The biggest difference between a merchant wholesaler and an agent or broker is that the merchant wholesaler?

takes ownership of the products it carries

The Broyhill furniture company designed a sofa that retailers could sell for $699 and still make a profit. This was because retailers had told the company they needed a promotional sofa that would cost less than the $1000 or more for a typical sofa. They would feature the promotional sofa in their advertisements to bring customers into the store. This is an example of?

target profit pricing

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company typically first create a physical prototype of a new product?

technical development

If I were scanning the _____________ environment, I would be interested in the trend where businesses are experimenting with self-driving cars?

technological

One of the main ADVANTAGES of a questionnaire for collecting data is?

the data is easy to tabulate

A brand is an attitude about a product

true

One of the advantages of the three circles positioning framework is that it shows you where your competitors are wasting their time.

true

You may take each mini test ___________ time(s) during the period it is available.

unlimited.

Which of these is NOT an advantage of television as an advertising medium?

there is a low access cost

Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the marginal revenue for the 1125th cup?

10.25

Rosalie is thinking of advertising her sandwich shop on the radio. She is considering a package of 60 radio spots for $5,000. She only sells Cuban sandwiches for $10 and her average cost per sandwich is $5. How many additional sandwiched would she have to sell to breakeven if she buys the radio spots?

1000

BruceCo is planning on selling backpacks for $100 each. The company can buy the backpacks for $30.00 and have them customized for $20.00 apiece. There is a one-time set up charge of $1,000 for customization. In order for the project to go forward, the company needs to show a $10,000 profit. How many backpacks will BruceCo have to sell in order for this project to be acceptable?

220

5.30

5.55

What is a data silo as described in class?

A database designed to support one business function that is not integrated with other business functions.

What is the difference between data and information as discussed in class?

A datum is a fact; information is a fact that is used in making a decision.

A diagnostic measure?

A diagnostic measure is all of these things

Which of these is an example of earned content provided by users?

A four-star product review from a verified customer.

Which of the following is an expected outcome of the consumer buying process? a. A consumer recognizes a need but decides not to do anything about it. b. All of these are expected outcomes of the consumer buying process. c. A consumer recognizes a need, identifies several alternative ways to satisfy the need, evaluates the different choices, makes a purchase, and goes through cognitive dissonance after making the purchase. d. A consumer recognizes a need, identifies several alternative ways to satisfy the need, evaluates the different choices and makes a purchase. e. A consumer recognizes a need and makes a purchase.

All of these are expected outcomes of the consumer buying process.

Which of the following is a good reason for raising your prices?

All of these are good reasons for raising prices.

Which of these is NOT a good source of new product ideas?

All of these are good sources of new product ideas.

Which of these is NOT an example of an intangible product?

All of these are intangible products

Materials handling deals with loading and unloading products and moving them short distances from place to place. One of the biggest issues in material handling is?

All of these are issues associated with materials handling

Which of these is NOT a measure generally used in advertising?

All of these are measures commonly used in advertising

Which of the following groups would normally be considered to be a stakeholder of a company? a. The local community b. The company's suppliers c. All of these are normally considered to be stakeholders. d. The company's stock holders e. The company's labor unions

All of these are normally considered to be stakeholders.

Which of the following is NOT an example of a not-for-profit organization?

All of these are not-for-profit organizations.

Which of the following is NOT part of the price of a credit card for college students?

All of these are part of the price of a credit card for college students

The second stage of the consumer buying process is?

All of these are part of the second stage of the consumer buying process.

The second stage of the consumer buying process is? a. Where the consumer tries to identify different ways to satisfy the need. b. The creation of the 'awareness set' c. Affected by the cost of acquiring new information d. All of these are part of the second stage of the consumer buying process. e. The information search

All of these are part of the second stage of the consumer buying process.

Which of the following is an example of a question that can be answered using breakeven analysis?

All of these are questions that can be answered using break even analysis.

When would you be willing to spend money to develop new information to support a decision?

All of these are reasons to spend money to develop new information to support a decision.

Based on what you understand about the consumer buying process, why is it a good idea for Toyota to feature fuel economy in the advertisements for its hybrid Prius automobile. a. Because the company naturally wants customers focus on attributes where their product has an advantage over competitive products. b. All of these are reasons why it is a good idea for Toyota to feature fuel economy in advertisements for its hybrid Prius automobile. c. Because one of the advantages of owning a hybrid car is that you use less gasoline. d. Because the Prius is more expensive than comparable cars that are not hybrids so it would not appear to be as favorable if a customer chose price as the evaluation criterion. e. Because it encourages consumers to use fuel economy as an evaluation criterion. The Prius compares very favorably to other cars on the basis of fuel economy.

All of these are reasons why it is a good idea for Toyota to feature fuel economy in advertisements for its hybrid Prius automobile.

Why do telemarketers keep calling you during dinner to sell you things you don't want even though everybody will tell you that they dislike telemarketers. a. Because it is less expensive to contact a prospective customer by telephone than it is to contact a prospect in person. b. Because telemarketers don't need to be concerned about the feelings of the 99% of people who don't buy their product. c. Because sometimes somebody does buy the product. d. All of these are reasons why telemarketers continue to call even when people say they dislike telemarketers. e. Because the shotgun approach requires contacting large numbers of people in order to find the few who might be interested in a product.

All of these are reasons why telemarketers continue to call even when people say they dislike telemarketers.

Which of these is NOT a role for a website in digital marketing?

All of these are roles for a website in digital marketing

Which of the following is NOT a source of information for a typical Marketing Information System?

All of these are sources of information for a typical marketing information system.

What is the NAICS?

All of these are the NAICS.

When it comes to managing services, some people find it helpful to think of it as a service encounter with roles for both the service provider and for the customer. It is the role of the service provider to?

All of these are the role of the service provider.

What should you do if you want 100% on the mini tests? a. Work on review tests after getting 10's on the mini tests b. Take each test multiple times c. All of these are things to do if you want to earn 100% on the mini tests d. Don't wait until after the due date to start taking the mini tests. e. Set up a regular time each week to take the tests

All of these are things to do if you want to earn 100% on the mini tests

Which of these is NOT a tool you can use to communicate the brand experience?

All of these are tools you can use to communicate the brand experience.

Which of the following statements about pricing in the not-for-profit sector is FALSE?

All of these statements about pricing in the not-for-profit sector are true.

An inverted demand curve is usually associated with luxury or prestige goods. With an inverse demand curve, within a certain range of prices...

An increase in price will lead to an increase in the quantity demanded

What would a reader expect to find in the limitations section of a research report?

Any compromises the researchers needed to make in order to complete the study

What is digital marketing?

Any computer-mediated marketing activity

What do we mean when speak of an organization's stakeholders?

Any individual or organization that need to benefit from a company's marketing activity.

Why is it so important to take complaints about service so seriously?

Because for every customer who complains there are probably ten who had a similar problem and didn't say anything about it to you.

Why are sales teams becoming more popular in personal selling?

Because it increases the number of potential employees for a sales organization.

Why is it that many businesses may be unaware of how they are actually perceived in the market place.

Because much of the information executives get is from people who are paid by the company.

Why is it important to develop contingency plans when you adopt a sales forecast?

Because once a plan is underway, there is a tendency to explain away unexpected results rather than try to adapt the plan to the new circumstances.

Why is demand inelastic for many industrial goods?

Because the component cost is so small relative to the cost of the end product that large changes in the price for the component will have little impact on demand for the end product.

Why is it important for a marketer to know the ownership structure of a retail store?

Because the ownership structure determines who you need to approach in order to sell to the store.

According to Michael Porter, there are three fundamental marketing strategies. Why is this important to understand in a discussion of market segmentation?

Because there is only room for one low-cost producer in an industry, everybody else will need to use a differentiation or focus strategy. Market segmentation is a tool you can use to help differentiate your product

The last group in the diffusion of innovations process, non-adopters, represent people who will never buy the new product. Why is it important to remember this group when dealing with new product introductions?

Because you need to take these people into account in order to understand the true market potential for your new product.

Why is it important for a marketing manager to be aware of macro-economic indicators such as leading economic indicators and the business cycle?

Because you use different strategies in an "up" market than you do in a "down" marke

In digital marketing, _____________ segmentation is more common than ___________ segmentation

Behavioral, demographic

The two components of quality are?

Benefits received, consistency.

_____________ are the set of moral rules that govern how businesses operate, how decisions are made, and how people are treated?

Business ethics

Baking soda is an ingredient in cooking. It also has the property of absorbing odors. The Arm and hammer company found that many people were leaving an open box of baking soda in their refrigerator to absorb food odors. In order to take advantage of this opportunity, they developed a special package with many air vents specifically for use as a refrigerator deodorant. Arm and hammer used ______________ segmentation to develop this product?

Buying situation

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company introduce the new product into the company's overall product mix?

Commercialization

One of the ironies in brand management is that if you are very successful at creating a branded product so that people start referring to the brand name instead of the product name, you risk losing the right to the brand name. This use of the brand name as the product name is called _______________?

Common usage

In dealing with the ____________ issue in sales management, there is a tradeoff between salary and commission?

Compensation

In a(n) _____________ situation, multiple suppliers are invited to submit proposals for a contract to supply a good or service to a business customer?

Competitive bidding.

A major drawback to every day low pricing is?

Competitors can offer their products at a price slightly lower than yours.

Which of the following sources of information is frequently ignored when determining a company's actual market position?

Complaints from dissatisfied customers.

When using the _____________ approach to selling, the salesperson will ask questions in order to better understand what problem the customer is trying to solve with the purchase?

Consultative

Which of the following is NOT an example of an intermediary? a. Consumer b. Retailer c. Agent d. Broker e. Distributor

Consumer

What do we mean when we say demand for industrial goods is derived?

Consumers buy industrial goods indirectly when they purchase consumer goods that use industrial goods as components.

Which of the following statements about a consumer is FALSE?

Consumers have similar tastes

Roxanne has completed her positioning analysis and has decided that there is an opportunity to create an adult milk beverage that is enhanced with vitamins. Currently, her company does not make such a product, nor for that matter do any of her competitors. Roxanne has the opportunity to?

Create a new category by introducing a product that is different from anything else on the market.

OK, so you have successfully divided the potential market into three target market segments. What do you do next?

Create specific product/market offerings to satisfy unmet needs in each segment

Which of the following statements about creating a brand is true?

Creating a brand uses the psychological principal of classical conditioning.

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers and repackages it so that a retailer can buy a case of candy bars and have some from every manufacturer in the case. Kendra is adding value by ___________?

Creating assortment

A ____________ is a set of values, ideas and attitudes that are shared among members of a group.

Culture

Which of the following is NOT a way perceptual maps can help you with your positioning strategy?

Determine which of two alternative products your customers will prefer.

The three levels of conversion for an e-mail campaign are...?

Did they receive it, did they open it, did they respond to it.

Sometimes technology can make it difficult to create organizational intelligence. For example?

Different departments may have different databases that are independent of each other.

One of the main DISADVANTAGES of interactive data collection is?

Different interviewers may be inconsistent in how they ask the questions.

Which of the following statements about the consumer buying process is FALSE?

Different people will go through the stages of the consumer buying process in a different order.

According to Michael Porter's theory discussed in class, which is best strategy to use when you are not the low cost producer in an industry?

Differentiate your product.

_____________ looks at how new products are adopted by entire populations.

Diffusion of innovations

When I go to the grocery store, I see several types of cola products. Sometimes, even though I am in the mood for a cool, refreshing Cola, I keep my money in my pocket because I am saving up for a new high definition television set. For the Coca Cola Company, this is an example of ___________ competition?

Discretionary income

Zach hates the sport of soccer. He especially dislikes the Brazilian national team. He makes it a point never to wear anything that looks like soccer clothing, especially if it is in the colors of the Brazilian team. For Zach, the Brazilian soccer team is a(n) ____________?

Dissociative group

A ______________ or _______________ is usually the property of the retailer that distributes and/or sells a product?

Distributor's brand, Private-label brand

The last stage in developing a marketing plan involves

Establishing the budget and the timetable

A selective market coverage approach works best for shopping products that have a distinctive brand.

False

Giving a customer an opportunity to try the product before making the purchase decreases the likelihood of an eventual purchase.

False

Which of the following statements about fashion is FALSE?

Forecasting is less important for fashion products than it is for other products.

Bruce is trying to contact the purchasing agent for Starbucks Coffee in order to sell them his new "Bruce's Blend" of coffee. However, each time he calls the buyer, he gets a receptionist who asks him his name and then forwards his call to the buyer's voice mail. This has happened several times now and Bruce is beginning to think that the buyer will never call back. The buyer's receptionist performing the role of _________?

Gatekeeper

One of the reasons the examples in class may seem obscure to you is that your instructor was born between 1946 and 1964 and most of the students in marketing 431 are members of ______________, born between 1977 and 1994?

Generation Y (Millennials)

A ______________ or _______________ tries to create the perception of value by eliminating the advertising expense associated with many consumer products?

Generic brand, no-name brand

Geography

With social media marketing, the goal is to...?

Get people to share content with other members of their network

Which of the following statements about publicity is FALSE?

Good publicity doesn't cost the marketer any money

Bruce wanted to open a coffee shop. He knew his coffee was way better than anything Starbucks could do so he opened his first store across the street from a Starbucks Store. He ran advertisements in the local paper claiming "Bruce's Brew is better than Starbucks Stuff" and offered a money back guarantee to any Starbucks customer who was willing to try a cup of Bruce's Coffee. Bruce is using a _______________ positioning strategy.

Head to head

For a store using ______________, many items will go on sale each week?

High-low pricing

Which of the following is NOT a concern during the decision stage of the consumer buying process? a. Can I trust the person who is selling me the product. b. How do I pay for the product. c. How do I take possession of the product. d. Which product will best serve my needs. e. Identifying all of the alternative products available.

Identifying all of the alternative products available.

Which of the following is NOT a concern during the decision stage of the consumer buying process? a. Which product will best serve my needs. b. Can I trust the person who is selling me the product. c. How do I take possession of the product. d. How do I pay for the product. e. Identifying all of the alternative products available.

Identifying all of the alternative products available.

The law of demand (which is the basis of the demand curve) says?

If prices increase, customers will buy less

In general, the intent of government regulation of business in the United States is to?

Increase competition

The decision to hold inventory is critical to providing customer service through the supply chain. There are both costs and benefits. Which of these is NOT a cost of holding inventory?

Increased number of stock outs

Which of the following statements about the growth stage of the product life cycle is FALSE?

Increasing demand and decreasing competition lead to higher profits.

Which promotional role might be most appropriate for a product in the introductory stage of the product life cycle?

Inform

Most of the functions that need to happen in order to move a product from producer to consumer deal with?

Information

When people surf the web, they are looking for either _________ or _________?

Information, entertainment

An advertisement for Wishbone Salad Spritzers demonstrates that you can spray salad dressing on your salad and tells you there is only one calorie per squirt. The objective of this product ad is probably__________?

Informing

Which of these is NOT a key to success for a company adopting a market orientation? a. These are all keys to success for a company adopting a market orientation. b. Insuring every customer transaction is profitable for both the customer and for the company. c. Identifying and targeting specific market segments. d. Creating long-term customer value. e. An organization-wide focus on the customer.

Insuring every customer transaction is profitable for both the customer and for the company.

Which of the following is NOT one of the levels of attributes customers use to evaluate service quality?

Intangible attributes

A(n) ____________ is an entity that assists in the movement of products through the channel?

Intermediary

The ______________ deals with factors that affect your company, and are within your ability to control directly?

Internal microenvironment

Annabelle is in a hurry. She is on her way home from school and has to prepare for a job interview the next day. In addition, she has a term paper due in her "Philosophy of Pure Reasoning" class that is due the next day. When she is almost home, her roommate calls her on her cell phone and asks her to pick up some laundry detergent - it doesn't matter what kind - on her way home. Based on what you learned about the consumer buying process, which strategy is Annabelle likely to use in identifying alternative laundry detergents? a. External strategy because her roommate is a personal source of information. Incorrect b. External strategy because she will have to rely on point of purchase advertising to help her identify alternatives. c. Internal or memory based strategies because it is the least effortful approach. d. Internal or memory based strategies because it usually produces the best results. e. External strategy because her mind is too busy with other problems to worry about how many different kinds of laundry detergent there are.

Internal or memory based strategies because it is the least effortful approach.

Because of high ___________ retailers with low profit margins can still be attractive businesses?

Inventory turnover

________ affects the amount of time and effort a buyer invests in the consumer buying process.

Involvement

_________ affects the amount of time and effort a buyer invests in the consumer buying process.

Involvement

One of the questions you need to ask when identifying the data needed for a research project is?

Is the information worth what it will cost us to obtain it?

Which of the following statements about a decision support system is FALSE?

It is better to wait until after you know what decision you have to support to begin developing the information to support it.

The premise behind sales teams is that?

It is difficult to find one person who has all of the skills it takes to be a good salesperson.

A major disadvantage to introducing a new product that represents a continuous innovation is that?

It is difficult to gain a sustainable competitive advantage with incremental changes.

Which of these statements about viral marketing are TRUE?

It is impossible to predict whether or not something will go viral

One of the ethical issues in marketing is establishing what is a fair price. Some pharmaceutical companies charge very high prices for life-saving drugs because they need to recover the massive amounts of money invested in new drugs that never made it to market. While there is no question this practice is __________, there is a question about whether it is ___________?

Legal, ethical

Pearl went shopping for school supplies at Target. She found the pencils, paper, and binders easily. However, there was a special kind of graphing calculator that her school required and she couldn't find it on the shelf. She pressed the customer assistance button and within a minute a friendly associate was there to help her. The associate told her that they were currently out of stock on the calculator. She could wait until the new shipment arrived tomorrow or, if she wanted to go to a nearby store where the calculator was in stock, the associate would be happy to call ahead and have one reserved for pearl. This is an example of _____________ retailing?

Limited service

Many small businesses choose to segment their customers geographically because they can effectively to communicate with their customers using __________?

Local media

According to Ries and Trout, consumers organize products into categories in their minds. The goal of positioning is to?

Make it so that your product is the first thing that comes to mind when a category is mentioned.

A ______________ or _______________ is usually the property of the business that manufactures a product?

Manufacturer's brand, producer brand

By definition, _____________ is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large?

Marketing

A ________________ is all of the organizations and activities associated with moving the product from producer to end user?

Marketing Channel

The term _____________ describes how industries that were once growth industries became stagnant because managers in that industry relied on a narrow definition of their business and failed to change when technology or customer tastes changed?

Marketing myopia

What is the difference between a business customer and an individual consumer.

Mass marketing techniques are usually less cost effective in business marketing than in consumer marketing because there are fewer business customers than individual consumers.

The consumer buying process deals with how human beings __________ ?

May not act rationally in the classic 'economic' sense. Solve problems Make decisions Buy products

Psychographics, the practice of combining psychology, lifestyle and demographic information to segments markets can provide useful insight about consumer motivations and buying patterns. One of the weaknesses of using this approach for market segmentation is that it is difficult to ___________ psychographic segments.

Measure

The first source people turn to for information when making a purchase is...?

None of these are the first source people turn to for information when making a purchase.

Two recent trends in retailing, television shopping channels and online selling are examples of?

Nonstore retailing

One of the biggest differences between a for-profit service company and a not-for-profit service company is that?

Not-for-profit companies have multiple constituencies that could be considered to be customers.

Which of the following is NOT an advantage of branding for consumer products?

Once a brand has been established, you do not have to maintain it

Which of these statements about e-mail marketing is False?

Once a person has given you permission, you can be confident they will receive your e-mails.

The reason people experience buyers remorse after making a major purchase is because?

Once you have made a choice between two attractive alternatives, you experience a sense of loss over the alternative that you didn't choose.

Manny opened a coffee shop right across the street from a Barstucks coffee shop. Manny had studied the market and he knew that it cost Barstucks, a national chain, $1.40 to make a cup of coffee that sold for $2.50. Manny could make the same cup of coffee for $1.10 and could sell it profitably for $2.25. The day he opened his shop, the Barstucks across the street offered a 99cent cup of coffee special. No customers came to Manny's store and he had to close. The day he closed his store, the Barstucks 99 cent special ended and the price of a cup of coffee went up to $2.75. This was probably?

Predatory pricing

Which of the following is NOT a cost typically associated with logistics?

Product development

Mickey was hired by Metropolitan Life Insurance Company as a sales representative. The first task was to generate a list of 100 close friends and relatives who might be interested in talking about life insurance. This is an example of the ____________ phase of the personal selling process?

Prospecting

The ___________ stage of the sales process deals with creating the opportunity to make your presentation to the appropriate person?

Prospecting

Advertisers frequently engage in ___________ where they exaggerate the benefits of the product without actually making a false claim about the product?

Puffery

Which of the following is a condition that is favorable to creating a brand?

Quality and value are easy to maintain cosistently.

Carlina operates a wholesale lumber business serving contractors in her Midwestern city. She takes orders from a central location and delivers the lumber and other building materials to the contractor's jobsite using her own trucks. She orders her lumber from a mill in Washington State. Because the lumber is bulky and she orders large quantities she uses _________ transportation to ship the lumber from Washington?

Rail

Many sales managers report that _____________ is a high priority for them because turnover in the sales force is so high that they are always looking for good people?

Recruitment and selection

In the maturity stage of the product life cycle, profits can be increased by?

Reducing your costs.

Roxanne has completed her positioning analysis and now understands why her line of adult milk beverages has been performing so badly. There are too many competitors out there and she hasn't been able to gain market share from the category leader - Bruce's Power Gulp, a vitamin enhanced milk beverage. She believes there are people out there who would prefer a less-processed product at a lower price. She decides to change her advertising slogan to "The Fresh Alternative to enhanced milk beverages". Roxanne is trying to?

Reposition her product against the competition

What is pseudo-research?

Research that is conducted to support a decision that has already been made.

Coca Cola's basic strategy is they you should never be more than an arms length away from a cold, refreshing Coke. In order to achieve this strategy they try to make Coke products available for sale through as many outlets as possible. You can buy bottled Coke in the grocery store, fountain coke at a restaurant, single cans and bottles at convenience stores and gas stations, and individual cans from vending machines while you are waiting in line for a ride at an amusement park. Because the goal of the supply chain is to maximize __________, Coke is willing to bear the expense of having several different channels of distribution?

Responsiveness

Which of the following statements about retargeting is FALSE?

Retargeting is a way to attract first-time visitors to your website.

_______________ refers to an approach to merchandising where a retailer may carry products unrelated to its primary lines of merchandise in order to meet the needs of its target market?

Scrambled merchandising

Many retail stores use "secret shoppers," people who pretend to be customers, go into a store and do all sorts of things. They take notes and are able to report back what is really happening in the stores. This technique is used for _____________?

Secret shoppers are used for all of these things.

Bruce is a fan of the Minnesota Vikings Football team. He was watching a game between the Minnesota Vikings and the San Francisco Fortyniners on San Francisco television station. He expected that the announcers would favor the local team and it appeared that he was right. Even though a national media agency gave the local announcers an award for the most unbiased coverage ever in a televised football game, Bruce remained convinced that the announcers had favored the local team. This is an example of ______________?

Selective interpretation

Roxanne has completed her positioning analysis and has decided that she needs to reposition her product to a more attractive segment. In order to do this she needs to consider? a. What changes she will need to make to the product b. What are her competitors likely to do when they notice she is changing her strategy c. She needs to consider all of these things. d. Does she have the money to make the change e. Whether the organization can support the new product position

She needs to consider all of these things

the decision to hold inventory is critical to providing customer service through the supply chain. There are both costs and benefits. Which of these is NOT a benefit of holding inventory? a. Serve as a buffer against supply interruptions b. Make it possible to save money buy buying in volume. c. To create possession utility for producers d. Serve as a hedge against inflation for price-sensitive goods. e. To create time utility for customers

Shipping containers

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union looking for a snack. He noticed that he could buy ice cream for $3 including tip. He thought that he could save a lot of money if he had a refrigerator in his office. They are sort of expensive and take up space so he would probably have to do some looking. He went online and found a number of small refrigerators. Armed with the information about what should be available and what a good price would be, he stopped at three appliance stores before selecting a refrigerator for his office. In terms of product classification, a refrigerator is a(n) for Bruce?

Shopping product

Which of the following is NOT a characteristic of a product line?

Tend to be the same from company to company

Warranties can be either expressed or implied. An expressed warranty means that?

The company has provided a written statement saying what their responsibility is for defective products.

The central level of the levels of the product concept consists of:

The core benefit that a consumer will get from the product.

The value of having a wide product mix is?

The correct answer is: It allows you to meet other needs of the customers in your target market, increasing the strength of the relationship with your target customers.

In order to understand a customer's wants, a marketer must understand __________?

The cultural and social environment in which a customer makes purchasing decisions.

Which of the following statements about the consumer buying process is TRUE? a. There is a separate process consumers use to solve non-product related problems. b. Once a need has been identified, the consumer will purchase a product to satisfy it. c. The customer decides whether he/she is truly satisfied with the product after the decision has been made. d. The first stage of the process is when the consumer makes up his/her mind to buy the product. e. The final stage of the process is when the consumer makes up his/her mind to buy the product.

The customer decides whether he/she is truly satisfied with the product after the decision has been made.

Which of the following is an example of context information available from a mobile device such as a smartphone?

The direction a person is moving

In a market with producers and six retailers, the addition of a wholesaling middleman can decrease the number of transactions needed to have an efficient market form 24 to 10. This is an example of?

The economy of transactions

What is the relationship between a SWOT analysis and an environmental scan?

The environmental scan identifies issues that are relevant to the strategic planning process; the SWOT analysis evaluates key issues in terms of the organizations strengths and weaknesses.

What do marketers mean when they speak of involvement as it relates to the consumer buying process?

The financial, social and physical risk of the purchase to the person

Which of the following buying criteria is a business buyer likely to use and an individual consumer NOT likely to use?

The impact on the channel of distribution

Which of the following is a difference between inside selling and outside selling?

The job may involve extensive travel

The mini test score that counts toward your final grade is?

The last attempt

What is the relationship between the law of truly large numbers and market segmentation?

The law of large numbers is an abstract concept that helps us understand why market segmentation works.

Many strategic plans are not executed well because?

The long-term strategic objectives are not translated into specific, actionable tasks to be done by people in the organization

Warranties can be either express or implied. An implied warranty means that?

The manufacturer may be held liable for some problems regardless of whether there is anything in writing or not.

Which of the following is a condition that must be met before you can consider a group of people to be a market segment?

The market potential of the group must be large enough to make it economically viable

The four 'P's are?

The marketing mix variables we use to create need-satisfying offerings.

The threshold level of perception is...?

The minimum difference in a stimulus that a person will notice

Which of the following statements about an organization's mission statement is FALSE?

The mission statement is something that only applies at the corporate level

One critical issue to consider when developing a marketing channel that may not be covered in marketing textbooks is...?

The need to prove your product is a good fit for your channel partners

BruceCo planned to introduce a new line of herbal coffees in its coffee shops. Using the chain ratio method, they estimated they would have 300 people walk through the door every day and that 1/3 of these people would notice a sign advertising the new coffee and ask about it. If the price were the same as its regular coffee, they estimated half of the people would try the new blend. If the price were higher than the regular coffee, they estimated only one out of 10 would request the new blend. The goal was to sell 50 cups of the new blend each day. Which of the following would be an outcome measure associated with the plan?

The number of cups of the new blend sold each day.

Raul purchased a microwave oven. He brought it home, plugged it in and nothing happened. Bummer. So he immediately returned it. The customer service representative was unwilling to let Raul return the microwave saying that they did not allow returns on electronic merchandise. Raul pointed out that even though there is nothing in writing, _________________ means that if the microwave doesn't work he can return it. Period. End of story.

The warranty of merchantability

Wal-Mart started out as a low-cost, low-status retailer. The company's success was founded on a policy of eliminating cost from retailing and passing the savings along to the consumer. Recently the company has been experimenting with high-end products such as big-screen televisions and fine jewelry. This move could be expected according to ____________?

The wheel of retailing

What do we mean when we say a market segment is "reachable"

There is a way of communicating with people in the segment.

What do we mean when we say a market segment is "reachable"?

There is a way of communicating with people in the segment.

Which of these statements about Porter's fundamental strategies is true?

There is only room for one low cost producer in a market.

Which of the following is a condition necessary for an exchange to occur? a. There must be at least two parties involved. b. Face to face meeting. c. The products must be of equal value. d. A person must be at least 18 years old (in the United States) e. There must be a business relationship.

There must be at least two parties involved.

Which of the following is a form of price?

These are all forms of price

One of the reasons there is confusion between the marketing plan and the business plan is that

These are all reasons why there is confusion between the marketing plan and the business plan for an organization?

In order to execute a strategic marketing plan, long-range strategic objectives need to be broken down into short-range tactical objectives so that each unit of the organization understands?

These are all things each unit of the organization needs to understand in order to execute a strategic plan.

Which of these is something you need to consider when it comes time to develop the marketing budget?

These are all things you need to have in mind when it is time to negotiate a budget

Subcultures can be powerful segmentation variables because people have more choice about the subcultures they choose to identify with. This means?

They are more likely to seek out products that affirm their membership in the subculture

Which of the following is a reason why environmental scans are so important to marketing managers.

They can help you avoid Marketing Myopia

many sales people prefer inside selling because?

They don't like to travel

Not-for-profit organizations need to use complementary positioning because...?

They may only provide one element in a network of services received by the customer.

The decision to hold inventory is critical to providing customer service through the supply chain. There are both costs and benefits. Which of these is NOT a benefit of holding inventory? a. Serve as a hedge against inflation for price-sensitive goods. b. To create time utility for customers c. To create possession utility for producers d. Make it possible to save money buy buying in volume. e. Serve as a buffer against supply interruptions

To create possession utility for producers

Which of the following is NOT a motive for a business customer to purchase a product?

To negotiate a price so low that the supplier actually loses money on each transaction.

One of the ways business buyers can be proactive in identifying alternatives is...?

To put out a RFP (request for proposals) inviting suppliers to design an offering specific to the firm's needs.

Which of the following is one of the three typical uses for information in a decision support system as described in class?

To support ad-hoc or one of a kind decisions.

When dealing with order processing, there is a trade-off between ____________ and ____________?

Transaction costs, inventory levels

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers at her warehouse. She then puts cases of each brand of candy in her delivery trucks so that her drivers can visit her retail customers and resupply their candy racks. Kendra is adding value by ___________?

Transporting

Unlike a storage warehouse, a distribution center is primarily for?

Transshipment of products

Many products don't make it past the introductory stage of the product life cycle because late stage buyers are not as forgiving as innovators when there are imperfections in the new product.

True

A(n) ______________ targeting strategy uses a mass market approach to reach as many people as possible with the same marketing mix.

Undifferentiated

Bruce's Angels is a not-for-profit organization that makes the world a better place. Bruce learned that a member of his board of directors had decided to resign from the volunteer position so that he could pay more attention to his business. Later that day, Bruce learned that two of his key staff people were leaving because they had received a very attractive job offer from the former board member's company. It was clear that the board member had recruited these people for his company before he resigned from the board. According to the ethical legal framework, the behavior of this board member would be considered...?

Unethical but legal

For prestige products - products that are consumed socially and confer status on their owners?

Unit sales of the product can decrease if prices are lowered.

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union looking for a snack. On his way he noticed someone had set up a table with information on data plans for cellular phones. As he tried to walk past the table, a salesperson stopped him and asked him if he would like to buy a data plan for a very low introductory rate. In terms of product classification, a cell phone could best be described as a(n) for Bruce?

Unsought product

What is the hard way to become the category leader?

Use the marketing mix to improve your position in an existing category.

_____________ is an ethical perspective that believes a decision is ethical if the benefits outweigh the cost?

Utilitarianism

A _____________ includes all of the activities involved with taking a raw material, turning it into a finished product, and getting it into the hands of the customer?

Value chain

____________ are the costs of production that are tied to and vary with the number of units produced?

Variable Costs

What is the difference between the supply chain and the value chain?

Very little. A supply network is the part of the value chain.

Carlina operates a tofu making factory in Taiwan. She uses soybeans grown in Northwest Ohio for her tofu because they are very high quality and the prices are low. Soybeans will keep for a very long time without spoiling. Because her main concern is how to get the thousands of bushels of soybeans to her factory for the least cost, Carlina uses _________ transportation for this part of her business?

Water

Which of the following is a question that should be answered in the 'define the problem' stage of the market research process, well before any money is invested in the project?

What action will we take based on the results of the research?

One of the major issues in designing computer systems to support a marketing information system discussed in class is?

Who has permission to enter and/or edit information in the database.

Which of the following is NOT a factor a business customer is likely to consider when making the decision to purchase an industrial product?

Will the product clash with his/her home decor

The only way you can get remediation for a missed mini test is?

You were physically unable to take the test from the time it was due until after the last chance to re-take it and can prove it with a doctor's excuse or other external documentation.

Which of these stores would you expect to find in a city's central business district?

You would expect to see all of these in a central business district.

In the three circles positioning framework presented in class, what area of the chart indicates how you are currently differentiated in the marketplace?

Your unique position

Desiree knows that she does not have very much money. Yet she dreams of being rich and famous like one of those Hollywood stars you see on television all the time. Her one luxury is to buy fashionable designer dresses just like those worn on her favorite television shows. In order to survive, she eats day old bread and lots of rice because it is very inexpensive. Desiree's desire to save money on food which she eats alone is motivated by her ____________?

actual self-concept

Yuli is the California regional manager for a suntan lotion company. Currently the company does not have a distributor in San Francisco. Yuli will use the company's marketing information system to decide whether or not to add a distributor in Northern California. This is an example of a(n) ___________ decision?

ad-hoc

Which of the following is NOT an issue typically addressed in developing a channel strategy? a. In-stock levels b. Advertising c. Market Coverage d. After-sale service e. Service level

advertising

Which of these is NOT an evaluation point for business decisions according to the ethical legal framework? a. All of these are evaluation points for business decisions b. Motives c. Goal setting d. Methods to achieve the goal e. Consequences

all of these

Which of the following is an example of a product? a. All of these are products. b. A hospital emergency room. c. A political candidate. d. A vacation in Jamaica. e. A new car.

all of these are products

Which of the statements about the levels of the product concept are true? a. It can be used as a basis for positioning. b. It recognized that there are an infinite number of ways to satisfy a consumer's need. c. It is a useful tool to use in developing new products. d. It looks at products from the customer's perspective e. All of these statements are true.

all of these statements are true

A discontinuous innovation is? a. A discontinuous innovation is all of these things. b. A product so new that customers may not understand how to use it. c. A product that is "new to the world" d. A product so innovative that it can change the way we live. e. An opportunity to gain a significant competitive advantage.

all of this

Which of the following is NOT something you would like an intermediary to provide for your customers?

alternate products

Which of the following is NOT something you would like an intermediary to provide for your customers? a. Alternate products b. Communication c. Convenience d. Variety e. Research

alternate products

____________ is an example of a retailer whose merchandise mix is both wide and deep?

amazon

A feature is...?

an attribute of a product or offering

Which of the following is NOT a source of internal data used in a marketing information system?

an information silo

It is not unusual for experienced salespeople to tell a joke or an interesting anecdote before 'getting down to business' with the customer. These people recognize the importance of the ___________ stage of the personal selling process?

approach

Many inexperienced sales reps fail to establish rapport with the customer in the __________ stage of the personal selling process, making it difficult to uncover needs during the presentation?

approach

The goal during the __________ of the personal selling process is gain the customer's attention and build the foundation for the sales presentation?

approach

Zach loves the sport of soccer. He is a huge fan of the Brazilian national team. He collects pictures of the team and wears the Brazilian team colors during world cup soccer matches. He hopes to be good enough to play on the Brazilian soccer team some day. For Zach, the Brazilian soccer team is a(n) ____________?

aspirational group

Frodo was a massage therapist. He was very good at dealing with lower back pain. In his waiting room, he had a framed photograph of Sylvester Stallone along with a letter from the celebrity saying that Frodo was the best massage therapist in the world. Sylvester Stallone appeared in all of Frodo's print and radio advertisements as well. Frodo was using the ___________ approach to making his service seem 'real'

association

Kris decided to go shopping for a pair of tennis shoes. She went to the mall where there were several stores selling shoes. The first store was poorly lit, seemed to be kind of dirty and was very crowded. The second store was brightly lit, sparkning clean and had the shoes attractively displayed on shelves. She walked past the first store and into the second store in order to shop for shoes. Kris was influenced by ___________?

atmospherics

Many retailers play holiday music in the background and scent the air with cinnamon and peppermint to help shoppers get 'in the mood' when they are doing their Winter holiday shopping. This is an example of using __________ to implement a store positioning strategy?

atmospherics

A(n) _____________ is a learned predisposition to respond to an object or a class of objects in a consistently favorable or unfavorable way?

attitude

Arwen wanted to open a donut shop where customers could design their own donuts and have them made to order at the time. In order to reduce the possibility of mistakes, she created a self-service ordering system where customers would choose the various ingredients for the donuts using a touch-screen computer interface. Then they would follow along the glass-enclosed production line and watch while her highly skilled workers cooked the donuts from scratch. By using a computer rather than a person to initiate the process, Arwen was using _____________ to make the best use of her highly trained donut makers?

automation

In order to get an individual to adopt a new product the first thing you need to create is?

awareness

One of the issues facing _______________, people born between 1946 and 1964 is coming to terms with growing older?

baby boomers

The Kellogg's company has spent Millions of dollars over the decades advertising its many brands of ready to eat cereal products. In fact, many of the brand characters such as Tony the Tiger; Snap, Crackle and Pop have become well established in the popular culture. Because it would cost a competitor hundreds of millions of dollars to create a brand image comparable to these icons, Kellogg's brand equity is a ____________ in the ready to eat cereal market?

barrier to entry

When goods and services are exchanged for other goods and services, rather than for money, it is referred to as __________?

barter

In digital marketing, _____________ segmentation is more common than ___________ segmentation.

behavioral, demographic

When developing contingency plans, the ____________ scenario assumes that everything that could go either right or wrong goes right?

best case

The Foreign Corrupt Practices act of 1977 makes it illegal for U.S. businesses to __________ foreign government officials, even if it is the custom do to so that country?

bribe

The SWOT analysis can be used to develop marketing strategies by ____________?

building on a strength

Bruce is considering adding dinosaur slippers to his novelty sleepware line. But first, he needs to determine if there is adequate market potential to justify the expense. Bruce is in the _________ stage of the new product development process.

business analysis

______________________ is the marketing of goods and services to companies, governments, or not-for-profit organizations purposes other than personal consumption?

business marketing

Of the three ways to satisfy a need, which one is used to create exchanges?

buy it

The group of people in an organization who become involved in the purchase decision are a(the) _________?

buying center

The most attractive market segment for fast food restaraunts is heavy users (no pun intended). These customers visit fast food restaraunts 14 or more times per month on average. This is an example of _______________ segmentation in the fast food industry?

buying situation

The Senseo coffee maker is a machine that makes one cup of coffee at a time from specially prepared 'pods' of coffee. You can get the coffee maker at a very reasonable price. However, you can only get refill pods from the manufacturer and they tend to be expensive. This is an example of?

captive pricing

Jiwon has successfully introduced a new kind of candy for college students at the college bookstore. Her candy is selling very well and she is thinking of marketing it nationally. She is not sure if college students are buying it because of the colorful packaging or because it has lots of caffeine. She will have to conduct ___________ research to determine which factor is responsible for college students buying so much of her candy?

casual

Santa Claus is trying to estimate demand for toys this Christmas. He know there will be 3.7 billion children because he monitors birth trends across the world. He knows from experience that 14% will be naughty this year and get coal rather than presents for Christmas. He recently commissioned a research study from Donner + Blitzen associates who found that children stop believing in Santa Clause when they are 5.8 years old. Santa is likely to use the ____________ method to forecast demand for toys?

chain ratio

_____________ occurs when there is a clash of goals and methods between distribution channel members.

channel conflict

The _______________ concept recognizes that there are a set of functions that need to happen in order to move a product from the producer to the consumer?

channel flow

As a rule, when it comes to choosing between advertising media, the higher the _________, the higher the cost?

channel richness

One of the techniques used during the _________ stage of the personal selling process is to assume that the customer will place an order and begin to discuss the details of the order?

The __________ stage is the heart of the personal selling process and the object is to convert a prospect into a customer?

The __________ stage of the personal selling process involves asking for the order?

closing

Intel corporation created the Intel Inside campaign to make consumers aware that an important component of any computer is the quality of the microprocessor (computer chip) that makes the machine work. They negotiated with computer manufacturers to include a sticker on the outside of the computer - regardless of the brand - showing that there was an Intel chip inside. This is a classic example of _____________?

co-branding

An organizational chart is a useful tool for understanding the structure of an organization. Specifically, the connections between the 'boxes' in an organizational chart show patterns of ____________ and ____________ within the organization.

communication, authority

The ____________ component of the external macro-environment deals with alternate firms that could satisfy a specific market's need?

competitive

In a(n) _____________ situation, multiple suppliers are invited to submit proposals for a contract to supply a good or service to a business customer?

competitive bidding

Developing a ______________ involves identifying critical points in the plan, anticipating what could go right or what could go wrong and determining in advance what course of action you will take?

contingency plan

In digital marketing, a ______________ is the point at which the subject of a marketing action performs the desired action?

conversion

Which level of the organization is typically responsible for determining the organization's mission and or vision?

corporate level

_______________ is used in situations where the final cost of a good or service may not be available at the time the agreement is reached?

cost plus pricing

The __________ to setting prices is based on understanding an organization's cost structure and profit requirements?

cost-based approach

The disadvantage to the __________ to setting prices is that it doesn't take into account whether customers are willing to pay the price you need to charge?

cost-based approach

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. Social responsibility was a high priority for the company so she knew that whatever coffee company she used, it had to be socially responsible. She went online and found three coffee companies that provided equipment and made regular deliveries. The company she chose claimed to be socially responsible. All of the coffee was certified to be fair trade coffee by the Fair Trade Coffee association. Hermione was familiar with the Fair Trade Association and knew that fair trade certification meant the coffee was purchased from small farmers who were paid a fair price for their coffee. Hermione used ____________ to evaluate the quality of the service?

credence attributes

A person's food preferences, rituals, and even a sense of what is right and what is wrong can be strongly influenced by his/her ___________?

culture

One of the problems in acting ethically in international business is that __________ and _________, the basis of what is right and wrong, can vary from country to country?

culture, religion

Which of the following is NOT information that is available categorized by NAICS codes?

current price data

The objective at the bottom of the sales funnel is...?

customer conversion

Doc Robertson Designs is a high end fashion boutique for professional men. As part of their data mining program, they identified customers who had spent more than $1,000 on merchandise in the past and who had not made a purchase in the past 18 months. These customers were invited to an invitation-only sales event where they could purchase anything in the store for 35% off. This is an example of using data mining for _________?

customer retention

Unlike a product advertisement, an institutional advertisement may have __________ as an objective?

damage control

Lands End was traditionally a mail order catalog company. In order to expand their business, they decided to open retail outlets where customers could visit and actually see the merchandise. By analyzing the zip codes from past mail order shipments, they were able to locate new stores in areas where many of their customers already lived. This is an example of?

data mining

____________ attempts to identify new business opportunities by analyzing data from past transactions?

data mining

A(n) ___________ is a conscious choice from among two or more alternatives?

decision

Sandra is running an online bookstore. Her market research shows her that many people visit the site, look at several books, add one or more books to the shopping cart but never actually purchase anything. Based on what she learned about the consumer buying process, Sandra decided to offer free delivery. She felt that this would make it easier for the customer in the ___________ stage of the consumer buying process.

decision stage

Niles is the marketing manager for Hang Five, a manufacturer of half-price surfboards. He just learned that the largest supplier of surfboard blanks has just declared bankruptcy and that in 30 days the supplier would no longer be able to provide surfboard blanks for Hang Five. Niles is likely to rely on the ___________ feature of the company's marketing information system to help solve this problem?

decision support system

Bruce worked for the Northwest Table Pad company. The table pad industry was created in the early 20th century and became very profitable in the post world war II economic boom. In recent years, the number of table pad manufacturers had declined and fewer customers were buying table pads because formal dining rooms were out of fashion and new protective finishes made the need for table pads less obvious to consumers. Table pads were in the ____________ stage of the product life cycle?

decline

When dealing with tangible products, consistency is usually measured in terms of?

defects

Jiwon is thinking of developing a candy specifically for college students. Before she begins manufacturing, she has decided to conduct some research to determine whether or not she should include caffeine in the candy. If the results show students prefer caffeine, she will market it as a caffeine product. If the results show students don't care about caffeine, she will market it as an energy product. Jiwon is probably in the __________ stage of the market research process?

define the problem

What is the most important stage of the market research process?

define the problem

The __________ to setting prices weighs consumer tastes and preferences more heavily than costs and profits.

demand-based approach

Have you ever noticed that when you fill out a warranty card after making a purchase, the manufacturer frequently asks questions such as how old you are, what your ethnicity is and how much money you earn. These questions suggest that the manufacturer is using __________ to segment the market.

demographics

Which of the bases for segmentation is most frequently used by marketers?

demographics

Jiwon is thinking of developing a candy specifically for college students. She thinks that college students would buy candy if it had caffeine in it. Before she invests a lot of money in candy making equipment, she conducts ___________ research to find out if there is a relationship between caffeine and candy sales for college students?

descriptive

Nick is thinking of conducting some market research to help him determine the best colors to use for the cover of his new hip-hop CD to be released in February. He decides that he can invest up to $500 in this research, but he needs to get it done in the next three weeks. Nick is probably in the _______________ stage of the market research process?

develop the research plan

Bruce wanted to open a coffee shop. He knew his coffee was way better than anything Starbucks could do because he ran taste tests with people in the neighborhood. He found that people in his area preferred their coffee with just a hint of cinnamon in it. When he opened his first store across the street from a Starbucks store, he ran advertisements claiming "Bruce's Brew is the spice of life," and offered a coupon good for a free cinnamon grinder with purchase of Bruce's Best. Bruce is using a _______________ positioning strategy.

differentiation

The product market growth matrix suggests four strategies based on customers and products. Which of the following is NOT one of the basic strategies suggested by this approach?

differentiation

A marketer interested in selling luxury goods would naturally pay close attention to changes in the amount of?

discretionary income

_____________, is the amount of money a consumer has left after paying for necessities such as food and housing?

discretionary income

During the _____________ stage of the fashion cycle, new styles are sought by trendsetters?

distinctiveness

Frodo was a massage therapist. He was very good at dealing with lower back pain. The walls of his waiting room were covered with framed documents. Some of them were diplomas from the massage schools he had attended. Others were copies of testimonial letters from well known people. Still others were reprints of favorable news articles that had been published in newspapers and magazines. Frodo was using the ___________ approach to making his service seem 'real'?

documentation

If you need to communicate with the instructor about the class, the only "official" mode of communication is?

e-mail

Yuli is the California regional manager for a suntan lotion company. Each morning a routine report identifies cities whose sales are 15% below projection for the previous day. This ____________ report allows Yuli to focus on stores that may need personal attention.

exception

Caterpillar makes heavy equipment for the construction industry. These machines are used hard and need fast reliable service to keep them running once a customer has purchased one. Because of this, there is only one Caterpillar dealer in any market. This is an example of __________ distribution?

exclusive

BruceCo sells medical devices used in surgical operations. It requires a great deal of training to be able to use these medical devices properly and there is a potential liability to BruceCo if they are used improperly. Because each product has to be numbered and monitored for quality and sanitation, the products must be handled carefully and are expensive. Which of these market coverage strategies would be best for BruceCo?

exclusive distribution

execution

expected price

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. Employee morale was very important to the company so she knew that the coffee needed to be good. She went online and searched for several coffee services. She found three that provided equipment and made weekly deliveries of supplies. She called all three and asked them to come in and put on a demonstration so that the employees could decide which coffee they liked best. The winner of the taste test would get the contract Hermione used ____________ to evaluate the quality of the service?

experiential attributes

One of the ways that attitudes about a product change over time is through ________________ or experiences with the product after it has been purchased.

experiential learning

Every time Jiwon goes to the candy counter at the bookstore, they never have exactly what she wants and she believes that there is an opportunity to develop a candy specifically for college students. Because she is not sure what features college students look for in candy, she should conduct __________ research to better understand how college students feel about candy?

exploratory

Rafael is applying to graduate schools for admission to the MBA program. If he goes part time, it will take four years and cost several thousand dollars. Rafael believes that he needs the advanced degree to get a promotion at his job. Rafael is likely to engage in _________ problem solving as he makes this decision?

extensive

The __________ environment deals with issues that are beyond your company's ability to control directly?

external

According the the information presented in class, the role of unsupervised learning in marketing analytics is to create models to predict future outcomes.

false

An inexpensive package shows the customer that you focus on making quality products rather than making pretty packages.

false

Buyer's remorse affects business customers as well as consumers

false

Customers control the features that are available in the products they buy.

false

Digital marketing is an alternative to traditional marketing techniques

false

During the idea generation stage of the new product development process, it is important to evaluate new product ideas as they come in to avoid being overloaded with unusable ideas.

false

Each family member plays a specific role in deciding what the family should buy.

false

For stores selling luxury products, it is important for customers to be able to see the prices of the merchandise when browsing.

false

From a channel flow perspective, ownership of a product changes from producer to consumer when the consumer takes physical possession of the product.

false

Frontline users need technical training in order to get the most out of marketing analytics programs.

false

Human beings always choose the best available product when making a purchase.

false

Ideally each of the channel flows is performed by a separate business that specializes in that function.

false

In the United States, the federal government monitors the marketplace for possible infringement on registered brand names.

false

It is a waste of money to create more than one ad for each key word used in a search engine marketing campaign.

false

It is better to wait for a long time and raise prices significantly than it is to have regular smaller price increases?

false

It is impractical to sell expensive products such as electronics or cosmetics through vending machines.

false

It is more important to evaluate positive information than it is to evaluate negative information when trying to understand how customers perceive your product.

false

It makes it easier for a customer to adopt a new product if the new product is similar to the one it is intended to replace.

false

Keeping inventory levels low decreases the chance of a stock out.

false

Market research only costs money if it uses primary data.

false

Most new products are successful, at least for a short while.

false

Omni-channel marketing creates a unique user experience for each device a customer may have.

false

People put a lot of effort into routine purchases, even though they would rather not.

false

Search engine operators seek community input when developing the criteria for organic search rankings to ensure the results from a search are relevant to the user.

false

Stereotyping is a useful tool to use when creating segments based on ethnicity.

false

Telemarketing is an inexpensive retail format for relationship marketing.

false

The "trickle down" theory suggests fashion trends originate with lower classes and migrate upward.

false

The Federal government has the primary responsibility for regulating business in the United States.

false

The fact that people different people might use the same product for different reasons is a problem when it comes to segmentation based on buyer behavior.

false

There is a limit to how many keywords you can buy each day when you use Google for search engine marketing.

false

Under the Robinson-Patman act, it is considered price discrimination to charge different customers different prices for the same product in consumer markets.

false

Up until 2006, it was legal for manufacturers to dictate the prices at which retailers can sell their products.

false

When a customer actually purchases a new product for the first time, we can say that person has adopted the product.

false

When making purchases, it really doesn't matter how you feel emotionally.

false

When retrieving memories, most people access the exemplar and up to two additional memories in the category.

false

Campbell's soup has dozens of different flavors and packages of soup. All of them have the same distinctive red and white packaging. You have to read the label to tell the varieties of soup apart. This is an example of:

family branding

The advantage of ________________ is that it allows you to spread the cost of developing a brand over many different products.

family branding

A ____________ is an accepted and popular style?

fashion

My friend who works at a major airline told me that they change their fares once every 3 minutes, on average. They are always monitoring how many seats are sold and how many are available (load factor) and how many days until the flight is scheduled. Customers sometimes feel that they are being treated unfairly because no two people on the same flight have paid the same price for their tickets. The airline does this because ____________ are so high that they need to maximize the amount of revenue they can get from every seat.

fixed cost

fixed costs

Keeping inventory levels low decreases the chance of a stock out.

flase

A(n) ______________ targeting strategy focuses on one specific marketing segment with one marketing mix?

focus

Which of the following is NOT a requirement for causal research?

focus group

Which of the following research techniques is most likely to be used in exploratory research?

focus groups

The ____________ stage of the personal selling process involves making sure that any promises made to the customer are kept in order to develop a relationship with the customer.

follow up

The ___________ sales presentation format, frequently used with inexperienced sales representatives involves memorizing a standardized sales presentation?

formula selling

People are more likely to share content on social media if it is....?

funny

_______________ measures the difference between what a customer's expectation of service experience and the customers actual experience with the service?

gap analysis

Tracy is thinking of marketing a new energy drink. Her target market will be parents of young children who need an energy boost in the car while driving from dance lessons to soccer games. She plans on testing whether or not people will like her new energy drink by offering free samples to students outside of the student union. If the majority of students say they like her product, she will go ahead with the product launch. Tracy may have a problem with the ___________ of her findings in this market research project.

generalizability

Which of the following is one of the four basic roles for a salesperson as discussed in class?

generating transactions

The idea behind _____________ is that people who are born at the same time share similar experiences growing up and, therefore are similar in some of their attitudes and behaviors?

generational marketing

Marketers recognize that people living in one part of the country may have tastes that are different than people in other parts of the country. For example, when traveling in the southern United States, Iced tea is served with the sweetener already in it while in the Northern states, iced tea is served unsweetened. These differences are the reason that __________ segmentation can be useful for many products.

geographic

Many national magazines such as Time or Business Week contain advertising that is different depending on where in the country the magazine is purchased. These regional editions are useful for marketers trying to communicate with customers who have been segmented according to ____________?

geography

In ________________, competitors in the same industry meet to negotiate the price they all will charge to their customers?

horizontal price fixing

ideal self concept

Thomas Friedman wrote a book about the impact of new technologies and other trends impacting the way business is conducted in the world called The World is Flat. One of the basic premises is that widespread adoption of internet protocols and the seamless connection of computer systems along the value chain allowing for the efficient flow of ___________ to help smooth the flow of goods from raw materials to end user.

information

When I order a book from Amazon.com, an online marketplace, I receive an order confirmation that tells me when my package will leave the Amazon warehouse, the name of the shipper, and a link to the shipper's website that allows me to track the progress of my package from the warehouse to my home. This way I know exactly when to expect my package. This is an example of the use of ____________ to smooth the flow of goods and services through the channel of distribution?

information

When people surf the web, they are looking for either _________ or _________?

information, entertainment

The objective of an advertisement for a product in the introductory stage of the product life cycle is probably ___________?

informing

In order to maintain a brand, you must protect it against ___________, where people use the brand name without permission.

infringement

Sabrina was running a day care center for pre-school children. She decorated the walls with images from the motion picture "Finding Nemo." One day she received a letter from attorneys representing Pixar and the Disney Corporation asking her to stop using images from "Finding Nemo." Pixar and the Disney Corporation were defending their brand against _______________?

infringement

According to diffusion of innovations theory, the first 2.5% of the population to adopt a product are called __________?

innovators

The basic issue when you are dealing with the __________ characteristic of services is that the customer and the service provider have to be together in order for the service to be produced?

inseparability

_____________ are business customers who purchase products primarily to run the organization.

institutions

When you are dealing with the ___________ characteristic of a service, one approach to marketing services is to make the service seem 'real' ?

intangibility

Starbucks recently announced that it intends to grow from 21,000 to 30,000 stores world wide by the year 2020. Even though it seems as if there is a Starbucks on every corner in America, the company feels there is a need for more outlets. This is an example of ___________ distribution.

intensive

Jill has been sitting through Professor Robertson's class for almost an hour now. She didn't have time for breakfast because... well just because. It is now almost eleven o'clock and she realizes that she is very hungry. This is an example of _________ need recognition?

internal

The __________ environment deals with issues that are within your company's ability to control directly?

internal

The concept of ___________ recognizes that before an organization can effectively take care of customers' needs, it must focus on its employee's needs?

internal marketing

One common strategy to extend the life of a product in the maturity stage of the product life cycle is to ____________?

introduce incremental innovations

The goal at the ______________ stage of the product life cycle is to get people to try the product for the first time.

introductory

In general, you have more flexibility in setting your prices in the _________ stage of the product life cycle than in the _________ stage of the product life cycle?

introductory, maturity

Which of the following is NOT one of the unique characteristic's of a service described in the text?

invisibility

_________ affects the amount of time and effort a buyer invests in the consumer buying process.

involvement

A market factor...?

is all of these things

When it comes to setting budgets, a top-down budget...?

is determined at the corporate level

The main advantage of primary data is that?

it addresses your specific research question

Which of the following is NOT a characteristic of a good Objective?

it is adaptable

When is it appropriate to ask for the order when closing a sales call.

it is always appropriate to ask for the order

The major advantage of secondary data is that?

it is immediately available

A brand can be thought of as a promise you make to your customers. In order for the brand to be successful, the promise must be _____________?

kept

___________ are society's values and standards that are enforceable in court?

laws

The objective at the top of the sales funnel is...?

lead acquisition

The objective at the middle of the sales funnel is...?

lead nurturing

In automated marketing, a prospect's ___________ is continually updated based on interactions with the company?

lead score

____________ deals with the flow of physical goods and related information through the value chain?

logistics

The way to find out what the due dates are for the mini tests is to?

look at the preliminary mini test schedule attached to the syllabus, and check the announcements regularly in case there are any changes to the schedule.

For many products such as candy bars, there is a price consumers expect to pay for the product. Retailers using the _____________ to setting prices will offer the product at a very low price in order to attract customers into their store?

loss-leader approach

The __________ environment deals with issues that affect all companies in an industry?

macro

Younjin is a purchasing agent for Acme enterprises. Currently, the company makes a line of fire-proof file cabinets that are well regarded by its customers. One of her responsibilities is to purchase brochures explaining the benefits of the Acme file cabinets. She was recently authorized to purchase a computerized document management system for the company at the cost of several million dollars. With this new technology, she may be able to print the brochures in the factory rather than ordering them from a printing company as in the past. Younjin will probably treat this as a ___________ decision?

make or buy

The Boston Consulting Group matrix is a 2x2 matrix with ___________ on one axis and ___________ on the other axis. This creates four positions: cash cows, stars, problem children (or question marks) and dogs.

market attractiveness, relative market share

_____________ is(are) the systematic gathering, recording, and analyzing data with respect to a specific customer group in a specific geographic area?

market research

Roxanne has developed a new adult milk beverage that is enhanced with vitamins. There has never been a product like this before and she is wondering how many cases she should manufacture in the first year of production. Roxanne is likely to use the ____________ method to forecast demand.

market testing

BruceCo is a company that makes products for the coffee industry. They subscribe to a clipping service that monitors newspapers in major cities around the world for articles related to the coffee industry. This is an example of _____________ in a marketing information system?

marketing intelligence

Most established brands are in the ____________ of the product life cycle?

maturity

The goal at the ______________ stage of the product life cycle is to maintain market share and extend the life of the product.

maturity

The __________ environment deals with issues that affect your company only?

micro

The SWOT analysis can be used to develop marketing strategies by ____________?

minimizing a weakness or threat

Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is copier paper for the company's copiers. The company makes lots and lots of copies so they use more than 60 cases of copier paper each week. Recently, one of her colleagues, Bruce has been complaining that the copiers are jamming a lot. She thinks it might be because the paper is the wrong kind for the company's copiers. Also, the chairman of the board made a speech to all of the employees stating that the company is going to become environmentally sensitive and there will be bonuses for people who can improve the company's environmental record. Younjin had heard that some recycled paper is as good or better than standard copier paper. She decides to re-think where she is buying her copier paper. Younjin will probably treat copier paper as a __________ decision?

modified rebuy

_____________ is an ethical perspective that believes the motive behind a behavior is more significant than the outcome of the behavior?

moral idealism

Perla is trying to decide which of two big screen television sets she should purchase. One is more expensive than the other, but it has better resolution. Sound quality is the same on both television sets. They both come with remote controls, but Perla rarely uses a remote control so it is not a factor in her decision. Perla is using __________ to make the decision?

multiple criteria

Many television infomercials advertise a product at a very low price. After you order the product, you find there is a fairly substantial shipping and handling charge. When you figure in the extra charges, the product may be more expensive than other, similar products that you were considering. This is an example of a ________tactic?

multiple price

A(n) ______________ targeting strategy develops more than one distinct marketing mix?

multisegment

Merchandise assortments can be described in terms of breadth and depth. How would you classify a kiosk at the mall that sells Cingular cellular phones?

narrow and shallow

Grocery stores frequently put items such as candy bars or chewing gum next to the check-out lines. The reason is that simply seeing the candy display may make a consumer hungry for a candy bar. This tactic tends to affect consumers at the ________ stage of the consumer buying process.

need recognition

The _________________ channel flow involves two-way communication between producer and consumer?

negotiation

Younjin is a purchasing agent for Acme Enterprises. She is responsible for the company's copiers. The company makes lots and lots of copies so they spend more than $10 million on copies each year. Younjin is considering replacing all of the company's copiers with a networked solution that digitizes all documents and prints them on demand at designated workstations. This system will have to be custom designed for the company and will cost several million dollars. Younjin will probably treat this as a __________ decision?

new task buy

One of the advantages of ________ as an advertising medium is that it is a relatively inexpensive way to reach local markets with time-sensitive ads?

newspaper

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union and bought a big bowl of ice cream. In terms of product classification, ice cream could best be described as a(n) for Bruce?

non-durable good

Sometimes a customer will ask questions during a sales presentation that may suggest the customer does not want to buy the product. The salesperson needs to deal with these ___________ before continuing with the presentation?

objections

Experience has shown that customers perceive a price of $99.99 to be significantly lower than a price of $100. The pricing strategy that takes advantage of this phenomenon is called ___________

odd-even pricing

In the three circles positioning framework presented in class, which area represents the area for creating an attractive new position in the marketplace?

opportunity to strengthen position

The Myers-Briggs personality inventory is one typology discussed in class. Which of the following is NOT one of the dimensions of the Myers Brigs personality inventory?

optimist-pessimist

_____________ are factors that limit the range of prices a firm may set for its products?

organizational constraints

organizational structure

A(n) ________________ is the container used to protect, promote, transport, and/or identify a product.

package

___________ involves creating clickable ads and paying to have them displayed in sponsored listings?

paid search

The two approaches to search engine marketing are _________ and ________?

paid search, organic search

Nintendo chose a ___________ approach to pricing for a new game console because they felt the market for this product was price sensitive, there are major economies of scale to be achieved, and both Sony and Microsoft would be introducing new game systems shortly?

penetration

The ____________ approach to new product pricing sets prices low in order to gain market share and discourage competitors from entering the market?

penetration

The product market growth matrix suggests four strategies based on customers and products. Which of the following is the least risky of the basic strategies suggested by this approach?

penetration

The introductory stage pricing strategy that attempts to gain as much market share as possible, even though it may mean more time before the product becomes profitable is called?

penetration pricing

Value is a function of ___________ and ___________?

perceived benefits, perceived cost

Which of these approaches to establishing a promotions budget is the one most commonly used in business?

percentage of sales

A ______________ is 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 relative to its own and then take marketing action?

perceptual map

Chez Bruce is the fanciest restaurant in the city. If you want to make a reservation, you have to make it before 5:00 pm or after 10:00 pm. There is so much demand for seats at the restaurant that you have to wait in line during peak hours. Bruce is using this strategy to deal with the __________ characteristic of service provision.

perishability

The basic issue when you are dealing with the __________ characteristic of services is that the time or capacity to provide services is limited and fixed?

perishability

Bruce is introducing a new kind of test grading machine. The machine is very complicated, but it can save college professors a lot of time and money once they understand how to use it. College professors don't watch a lot of television. Which promotional tool might work best in this situation?

personal selling

______________ is a promotional tool involving face-to-face interaction in order to persuade a customer to buy a product?

personal selling

Which of the following is NOT a situational influence on the consumer buying process?

personality

Which of the following is NOT a social influence on the consumer buying process?

personality

personality traits

The ____________ channel flow deals with the movement of the actual product from producer to consumer?

physical possession

Frodo was a massage therapist. He was very good at dealing with lower back pain. He gave his clients a book that they could use to keep a record of their visits to his practice and record their thoughts and feelings about the therapy. In the front of the book was a beautiful picture and an inspiring poem that would remind his clients that lower back pain can be treated with a visit to Frodo. By using the book, Frodo's patients could benefit from his practice even if he wasn't with them personally. Frodo was using the ___________ approach to making his service seem 'real'?

physical representation

Carlina operates an oil refinery in Houston Texas. She gets her crude oil from the largest oilfield in Texas. Because the product is more or less fluid and because she knows exactly where the raw material is coming from and where it has to go, Carlina uses _________ transportation for this part of her business?

pipeline

A marketing channel helps to create ______ utility?

place

The ____________ component of the external macro-environment deals with restrictions state and federal laws place on a business' activities?

political/legal

_________ utility relates to the satisfaction proud owners get from the products they own.

posession

In addition to determining the amount of money you will receive for your product, price serves as a __________ tool, signaling to customers where your product stands in relation to similar product offerings?

positioning

____________ is understanding how customers perceive your product and managing their perceptions relative to competing products?

positioning

During the ________ stage of the personal selling process, it is important to learn as much about the customer as time and money allow you to do?

pre-approach

The McKay 66 is a list of questions every salesperson at the McKay envelope company was expected to know about his or her customers. Obviously the __________ stage of the personal selling process is important at this company?

pre-approach

When using the consultative approach to selling, the first part of the _____________ stage of the personal selling process involves asking a series of questions so that the salesperson can understand the customer's needs?

presentation

_________ is the amount of money or other consideration, which is exchanged or offered for a product, or other desired outcome.

price

Colgate Palmolive created a special package that included a free regular-sized tube of toothpaste when you purchase a family-sized tube of toothpaste at the regular price. This is an example of?

price bundling

Colgate Palmolive developed a new line of Colgate brand mouthwash. As part of the introduction, they included a free sample of Colgate mouthwash with every tube of Colgate toothpaste. This is an example of?

price bundling

For companies operating in an oligopoly market structure, prices tend to be very stable. In these situations, the company with the largest market share might raise its prices in hopes that other, smaller companies will follow. If this happens, the price will increase. This is called the ____________ to setting prices?

price leadership approach

Mordred had been sued by a former business partner. The partner was seeking $1,000,000 in damages. Mordred felt that this claim was totally unfair. He went to the law firm of Merlin, Guinevere, and Arthur, LLC. He was told that a junior associate could handle his case for $300 and hour or a senior partner could handle the case for $700 and hour. When he asked why there was such a difference in the rates, he was told that the senior partners were in such high demand that they were trying to discourage new clients. This is an example of _____________?

price rationing

Huyen wanted to answer the research question, "what causes students to be unhappy with Marketing 431". Because nobody had done any research even remotely related to this particular question, Huyen needed to collect __________ data?

primary

The VALS system identifies eight consumer segments based on (1) ____________ and (2) _______________?

primary motivation, resources

One of the ethical issues in marketing is that data mining techniques where information from several databases is combined may be a violation of a customer's ___________?

privacy

Typically, ______________ is done by the retailer of a product rather than by the manufacturer.

private-label branding

A _____________ sample means that every person in the population of interest has a known chance of being included in the research.

probability

A ____________ is a bundle of tangible and intangible attributes that provide value to customers in exchange for money (or something else of value).

product

When I go to the store, I see several different types of cola products. Normally I prefer Coke Zero, but sometimes I am in the mood for a different kind of soft drink. I may buy an energy drink, or a Snapple, or even head over to the mall for a Jamba Juice. For Coca Cola, these other soft drinks are examples of ______________ competition?

product

Which of the following is NOT a typical application of data mining as discussed in class?

product abandonment

BruceCo is a coffee shop selling custom-brewed coffee to walk-in customers. In order to boost sales, Bruce started selling CD's of the music played in the store. This is an example of the ____________ growth strategy?

product development

Each of the individual ____________ in a product line are frequently assigned a unique SKU number.

product items

The _________________ is a concept that explains how products go through four distinct stages from birth to death.

product life cycle

A marketing organization using (the) _____________ will have a set of marketing functions such as sales, advertising, research, for each product line?

product structure

In order for a firm to have an increase in market share as a pricing objective, it is assumed that the firm has?

profits

Yuli is the California regional manager for a suntan lotion company. Tomorrow morning she must meet with her supervisor for her annual performance review. In preparation for the meeting, she prints a copy of a routine ____________ showing her performance for the year compared to her goals.

progress report

Companies that fail to ____________ will find themselves at a disadvantage in terms of reaching customers and finding good employees?

promote diversity

Advertisers frequently engage in ___________ where they exaggerate the benefits of the product without actually making a false claim about the product?

puffery

Sanjeev was opening a new shrimp farm in Louisiana. Shrimp is the number one selling seafood in the United States and he felt that growing demand for shrimp would allow a new business to succeed. In order to find customers for his product, he sent samples of his 16 ounce package to the seafood buyers of the 15 largest grocery store chains. Along with the sample was an offer for 50% off the wholesale cost of shrimp for the first order. Sanjeev was using a ______ promotion strategy?

push

Which of the following research techniques is most likely to be used in exploratory research?

qualitative data collection

When we say a measure is __________ we mean that it should involve a number?

quantifiable

Sometimes it is not feasible to conduct causal research because meeting all of the conditions (for example a probability sample when you aren't sure how many people are in the population). In these cases researchers may conduct ____________ research which is almost as good.?

quasi-experimental

Which of the following IS a probability sample?

random sample

After years of steadily declining sales, the amalgamated telephone book company adopted new product development as a strategic priority for future growth. This is an example of the ___________ approach to new product development?

reactive

A _______________ is an actual or imaginary group that has a significant impact on a person's evaluations, aspirations or behavior?

reference group

The three circles positioning framework presented in class suggests using all of the following EXCEPT ___________ to help clarify a market position?

related industries

When we say a measure is __________ we mean that it relates directly to the goal it is intended to measure?

relevant

Bruce is afraid he is gaining weight. He got on the scale this morning and he was 10 pounds heavier than he was last night. He got on the scale again after breakfast and he had lost 10 pounds. Just before leaving for school he got on the scale again and he was 5 pounds lighter than he was after breakfast. Clearly, there is a problem with the _________ of Bruce's weight measurements?

reliability

The primary audience for press kits is?

reporters

Roxanne has completed her positioning analysis and believes she understands why her adult milk beverage has been performing so badly. Her product was the first product to use aseptic packaging, which allows milk to be stored at room temperature for long periods of time. Introduced in 1999, the product was positioned as a survival food because everybody was worrying about Y2K problems at the turn of the century. Today people are more concerned about nutrition and her aseptic milk is very low in fat. To take advantage of this, she changes her advertising slogan from "It will keep you alive in the next century" to "A healthy beverage, ready and waiting". Roxanne is trying to?

reposition her product against itself

____________ include retail and wholesale businesses.

resellers

_____________ include retail and wholesale businesses.

resellers

_______________ is the process of selling goods and services to individuals for their personal use?

retailing

Which of these is NOT a tool used in materials handling?

safety stock

Which of these is NOT a tool used in materials handling? a. Bar code scanners b. RFID (radio frequency identification) c. Safety stock d. Forklifts e. Conveyor belts

safety stock

A major benefit of ____________ is that it allows salespeople to spend less time doing paperwork and more time in front of customers?

sales force automation

Because price can be considered a ___________ attribute, it can be used to position your offering relative to those of your competitors?

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. She went online and searched for several coffee services. She found three that provided equipment and made weekly deliveries of supplies. She chose the supplier that advertised the lowest price. Hermione used ___________ to evaluate the quality of this service?

search attributes

Huyen wanted to answer the research question, "What causes students to be unhappy with Marketing 431?" Although no one had conducted research on marketing 431, there were hundreds of studies that had been done about why students are unhappy with college classes. Huyen was able to take advantage of this __________ data to answer her research question?

secondary

Thomasville furniture decided to reduce the number of dealers carrying its line fine furniture. Stores who wished to carry Thomasville were required to dedicate at least 10,000 square feet in their store for a Thomasville gallery. This meant that only the larger dealers in a given market would be able to carry Thomasville. This is an example of?

selective

Sameer does not smoke. Every day he walks past a billboard advertising Camel cigarettes. In class, the instructor was talking about how much cigarette advertising is around us and described the billboard advertising Camel cigarettes as an example. Sameer was surprised by this. He had walked by the billboard every day, yet he had never noticed that it was an advertisement for cigarettes. This is an example of _____________?

selective attention

Confirmation bias recognizes that people will be more likely to believe someone who agrees with what they already think than someone who disagrees with what they think. This is the result of:

selective interpretation

Which of the following would be considered a higher-level need according to Maslow's hierarchy of needs?

self actualization

Which of the following is NOT a good source of information to use in understanding your current market position?

self knowledge

Allen had lunch at the Automat. This is a trendy new restaurant where the customer selects ready-made sandwiches, soups, salads, desserts, and drinks from little compartments along a wall. He then places the selections on a tray, takes it to the check out section, scans each item, and pays for it with a debit card before going into the dining area to eat. There is a crew of cooks who replace the items people select from the other side of the wall. This is an example of _____________ retailing?

self-service

A ____________ is a product that consists of primarily intangible attributes?

service

One of the challenges we face in managing services is that both the customer and the service provider work together to create the service. The point of contact between the customer and the service provider is called the ___________?

service encounter

One of the advantages of ____________ is that they can be moved from one platform to another without having been loaded or unloaded. Names such as piggyback, fishyback relate to the variety of transportation options?

shipping containers

Entertainment retailing recognizes that in addition to satisfying needs through purchasing products, for many people, shopping is?

shopping is all of these

Eseffisue Company has developed a portable solar-powered global positioning (GPS) device. There is a high demand for the product and until now, there wasn't anything like it on the market at any price. The company has a patent and the most important attribute for a GPS device is quality. Eseffisue Company should use a ____________ approach to pricing this new product?

skimming

The ____________ approach to new product pricing sets prices high in order to recover development costs more quickly?

skimming

One of the ethical issues in pricing is for retailers to require manufacturers to pay _________ to ensure placement of new products in a store. This practice is legal, but there is a question of whether it deprives customers of their right to choice under the Consumer Bill of rights?

slotting fees

Huyen wanted to conduct market research to find out why students were unhappy with Marketing 431, probably the finest course ever to be offered by a university. In order to do this she needed to find people who were unhappy with the course. Figuring that these people would talk to each other, she used a sampling technique where she found one person who was unhappy with the course and, after asking her research questions, asked this person for the name of another person who was unhappy with the course. This technique is called _____________ sampling?

snowball

________________ consists of the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests and behavior can be grouped.

social class

________ is (are) forms of electronic communication through which people create online communities to share information, ideas, personal messages, etc?

social media

The ____________ component of the external macro-environment deals with the demographic characteristics of a population and its values?

socio-cultural

A ______________ is one for which a customer will accept no substitute?

specialty product

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union fro a bowl of ice cream. All they had was Dreyers Ice Cream and Bruce was really in the mood for Haagen Daz. So he walked over to Stonestown mall in order to get a bowl of Haagen Daz Ice Cream even though he really didn't have the time. In terms of product classification, Haagen Daz ice cream could best be described as a(n) for Bruce?

specialty product

Many large retail stores use ____________ because it would be impractical to calculate the correct price for thousands of items individually?

standard markup pricing

Which of the following was NOT one of the bases for market segmentation discussed in class?

statistics

The ___________ sales presentation format trains salespeople to recognize specific cues?

stimulus-response

Retailers use ___________ as a way to make it easy for customers to navigate in the store?

store layout

Kendra runs a wholesale distribution center for candy. Each month she receives a shipment of candy from her supplier. She always has enough inventory on hand so that her retail customers can buy cases of candy whenever they need it. Kendra is adding value by ___________?

storing

Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is the copier paper for the company's copiers. The company makes lots and lots of copies so they use more than 60 cases of copier paper each week. Younjin will probably treat copier paper as a ____________ decision?

straight rebuy

_______________ is the process of determining what an organization is, who it serves, what it does, and why it does what it does, with a focus on the future?

strategic planning

strategies

A ___________ is a distinctive mode of presentation or performance?

style

The last stage of the market research process involves all of the following EXCEPT?

submitting expense reports

For ____________ products, an increase in demand for one product leads to a decrease in demand for the other product?

substitute

Which of the following research techniques is most likely to be used in descriptive research?

survey questionnaire

When _____________ is low, customers are likely to abandon your product if you raise prices?

switching cost

When _____________ is low, customers are likely to abandon your product if you raise prices?

switching costs

BruceCo is a company that makes products for the coffee industry. They subscribe to IRI's (Information Research incorporated) marketwatch newsletter to help them understand what is happening with coffee in retail stores. This is an example of _____________ in a marketing information system?

syndicated reports

Which of the following is an example of a source of data you might acquire in marketing analytics?

syndicated research

Which of these is NOT generally considered to be digital marketing?

television advertising

Bruce decided to add Apple Pay as an option for the customers who regularly buy coffee at his coffee shop. From a levels of the product perspective, this would be an example of...?

the augmented product

Two powerful influences on a company's ethical culture are its code of ethics and _____________?

the behavior of people in the company

Which of the following is an example of context information available from a mobile device such as a smartphone?

the direction a person is moving

One of the problems with sales promotions is that?

the effects tend to be short lived

Which theory of retail evolution proposes that new retail concepts emerge, become popular, are widely imitated and then fade away?

the retail life cycle

A benefit is...?

the usefulness a customer receives from using your product

Which theory of retail evolution proposes that as retail stores become successful and upgrade their product lines (and prices) it creates an opportunity for a new, low cost retail form to enter the market?

the wheel of retailing

Which of the following is a form of price?

these are all forms of price

Many sales people prefer outside selling because?

they can make more money

Many sales people prefer inside selling because?

they don't like to travel

Two of the major constraints on any market research project are...

time and money

One way to segment markets for business customers is by industry type. This approach is attractive because many industries have __________ which makes it cost effective to communicate with businesses in that Industry?

trade associations

The ____________ approach to new product pricing sets prices low for a while in order to encourage people to try the product and then raises the price once the new product gained traction in the marketplace?

trial pricing

"Air time" or access to communication media is a major cost for traditional marketing campaigns.

true

A distributor is simply a wholesaler serving the B2B (business to business) market.

true

A durable good is a consumer product that is expected to last a three years or more.

true

A memorandum of understanding summarizes key points in a business agreement.

true

A temporary price cut is an investment in promotion?

true

According the the information presented in class, the role of supervised learning in marketing analytics is to create models to predict future outcomes.

true

According to the ethical legal framework, it is important to balance the goals of all stakeholders when setting goals for the business.

true

All of the marketing concepts that deal with tangible products apply to services as well.

true

Availability or having a product in stock is a primary distribution concern for convenience products.

true

Compared to the size of the business market in dollars, the consumer market is much smaller.

true

Earned content is more credible than sponsored content.

true

Every time you compare your product to a competitor's, you are promoting your competitor's product.

true

For discount stores, it is important for customers to be able to see the prices of the merchandise when browsing.

true

From a retail pricing perspective, $999.99 is significantly lower than $1000.

true

If you are the first to use a brand name in business you have the right to use that name even if another company later trademarks the same brand name.

true

In online marketing, atmospherics deals with the look and feel of the website.

true

In the United States, industries can choose to regulate themselves if there is no government regulation of that industry.

true

It helps to keep your brand name from falling into the common usage if you use the brand name as an adjective, rather than as a noun or verb.

true

It is more common to use negotiated prices in B2B markets than it is in consumer markets?

true

Large corporations use crowdsourcing campaigns to fund new product development, even if they don't need the money raised through crowdsourcing to develop the product idea.

true

Manufacturers of inherently dangerous products may be held liable for damages even when they did nothing wrong.

true

Marketing analytics is a general term that could be applied to any attempt to use data to inform decisions?

true

Most business people are honest and keep their word when they make a promise.

true

Most business people are honest and keep their word when they make a promise..

true

One drawback to adopting an intensive market coverage strategy is that there is no incentive for channel partners to promote your product because it isn't "special".

true

One of the functional benefits of packaging might be that a customer could re-use the package for other things after the product has been consumed.

true

One of the ways our perceptions are biased is that we don't see things that are really there.

true

One of the ways our perceptions are biased is that we see things that aren't really there.

true

Retailers attempt to make the shopping experience fun because people put a different value on the products they buy when they are having fun.

true

Some businesses engage in pseudo-research to generate public support for a controversial issue.

true

The "trickle up" theory suggests fashion trends originate with lower classes and migrate upward.

true

The basic elements of store architecture are pretty much the same today as they were 200 years ago.

true

The criteria used to create organic search rankings are a closely guarded secret.

true

The fact that people feel short of time limits the effort they put into making purchases.

true

The goal of positioning is to have your product become the exemplar for its category.

true

The purpose of the purchase determines the amount of effort a person will put into the decision.

true

There is no such thing as a good decision or a bad decision at the time you make it.

true

There is no such thing as a price that is too high if someone is willing to pay it.

true

There is no such thing as a purely tangible or a purely intangible product.

true

Traffic that comes from paid search can improve organic search rankings

true

Traffic that comes from paid search can improve organic search rankings.

true

Volunteers are a tool not-for-profits can use to promote the organization.

true

When reporting on research in the mass media, reporters emphasize the parts of the research that make for a good story.

true

people prefer to shop for groceries near to where they live.

true

You have ____________ to take each mini test. Select one: a. One day b. One week c. All semester d. Three attempts e. Two weeks

two weeks

After the superbowl football game, Mark got a phone call from a Polling organization. The person on the phone asked Mark which commercials he remembered seeing during the Super Bowl. This is an example of a(n) ________________ test of advertising effectiveness?

unaided recall

The San Francisco Municipal Railway (MUNI) Charges $2.25 for an adult passenger. Once you have purchased a fare (and taken a transfer as proof of payment) you can ride anywhere on the system for the next 90 minutes. This is an example of __________ geographic pricing.

uniform delivered price

Bruce is very frustrated. He trying to make copies of a handout for his 9:30 principles of marketing class and the copier is jammed. The copier is always jammed. He has complained to the purchasing agent several times, asking them to get a copier that works. Bruce is performing the buying center role of _________?

user

_________ is the usefulness or the benefit that a customer receives when he or she uses your product.

utility

Tracy is thinking of marketing a new energy drink. Her key selling proposition will be that her product tastes just as good at room temperature as it does when it is ice cold. She plans on testing whether or not students will like her new energy drink by showing pictures of her drink and the other leading brands to students outside the student union. If the majority of students prefer the picture of her product, she will go ahead with the product launch. Tracy may have a problem with the ___________ of her measurement in this market research project.

validity

__________ is a function of benefits received and their cost

value

Gandalf opened a tobacco shop in the Haight/Ashbury District. He wanted to create a distinctive brand personality for the store, so he insisted that all of the employees wear purple robes and long, pointed hats while they were on duty so they would all look like wizards to customers. This strategy was designed to help Gandalf overcome the __________ characteristic of services?

variability

When you are dealing with the ____________ characteristic of a service, one approach is to institute procedure manuals and training programs so that your service employees will know how they are supposed to deal with customers.

variability

I can't believe it, said Wiley Coyote, I am the president of Acme enterprises and we make $200,000 a year profit with me working my tail off. Our distributor, Road Runner Representatives, made over $800,000 in commissions. I don't understand why they are making all of that money when all they do is run around all day and say beep-beep to customers. I think we should lower the commission rate to bring their income down to a more reasonable level. This is an example of?

vertical conflict

One way groups of independent businesses can compete with large retail chains is to form a _______________?

vertical marketing system

Frodo was a massage therapist. He was very good at dealing with lower back pain. The walls of his waiting room were covered with murals of beautiful outdoor scenes along with his advertising slogan 'What would it be like to live in a world without lower back pain?. There was soft, relaxing music playing in the background. He used these same themes in his print and radio advertisements. Frodo was using the ___________ approach to making his service seem "real"?

visualization

Which of the following is a condition necessary for exchange to occur?

voluntary participation

One of the ethical issues in marketing is that some market segments, such as children or the elderly, may not fully understand the choices they are being asked to make. What is the proper approach to marketing to these ___________?

vulnerable group

A _____________ is a statement that a product is fit for the purpose being claimed and describing what the seller will do if the product performs below expectations or is defective?

warranty

People have two decisions to make when they use products to solve a problem. One of them is?

which alternative is best?

A _____________ is a person who reports unethical behavior in a company?

whistle blower

Merchandise assortments can be described in terms of breadth and depth. How would you classify Home depot - a large retailer that carries hundreds of fasteners such as nails and screws, as well as lines of lumber, paint, plants, tools, and appliances?

wide and deep

_____________ refers to the number of product lines in a company's product mix.

width

Which of the following forms of promotion is the most influential?

word of mouth

When developing contingency plans, the ____________ scenario assumes that everything that could go either right or wrong goes wrong?

worst case

It has been said that no two people on an airplane pay the same price for a ticket. Prices tend to be lower if you are willing to book you trip well in advance and tend to be much higher if you have to book your trip on short notice. A non-refundable ticket costs less than a refundable ticket. Airlines use this ___________ in order to maximize the revenue they earn from each flight?

yield management pricing

A ________________ is a prediction of what a business's sales will be in the future?

Forecast

In the California general election, it is not unusual for a company to run an advertisement for/against a proposition stating that the proposition is good/bad for the economy and a waste of tax dollars/source of tax revenue. This would probably be considered a(n) ____________ ad?

Advocacy

After the superbowl football game, Mark got a phone call from a Polling organization. The person on the phone read a list of all comercials that ran during the game and asked Mark if he remembered seeing each one. This is an example of a(n) ________________ test of advertising effectiveness?

Aided recall

Which of the following statements about forecasting is true?

All forecasts are guesses.

Which of these is an example of noise as it applies to the basic communication model?

All of these are examples of noise in the basic communication model

BruceCo was opposed to proposition 92.3 in the California general election. This proposition would impose a 50 cent/cup tax on coffee in order to pay for education. The most recent polls showed 57% of likely voters supported the proposition. BruceCo then paid for an advertisement which explained that if the proposition passed, the cost of a cup of coffee would increase by 50 cents. Following the advertisement, the polls showed only 32% of likely voters were in favor of the proposition. This is an example of a(n) ___________ test of advertising effectiveness?

Attitude change

The first step in developing an advertising campaign is?

Establish the target audience

Which of the following media is the richest information channel?

Face to face conversations

In a performance-oriented culture, people at every level are encouraged to develop their own tactics for executing the strategic plan.

False

An advertisement for a medical alert device shows a senior citizen who has fallen and is unable to reach the telephone to call for help calling "Help! I've fallen and I can't get up." This situation would not have happened if the senior citizen had the medical alert device attached to her person. This is an example of a(n) _________ appeal in advertising

Fear

The PULL approach to promotion...

Focuses on creating consumer demand for the product.

The PUSH approach to promotion...

Focuses on getting members of the distribution channel to support the product

When using a SWOT analysis, a weakness is an issue that is?

Negative, Internal

Which of the approaches to developing a promotions budget is theoretically the best one to use?

Objective-task

Organizational structures

Personal selling

When using a SWOT analysis, an opportunity is an issue that is?

Positive External

A marketing organization using (the) _____________ will have a set of marketing functions such as sales, advertising, research, for each product line?

Product structure

Which element of the promotional mix typically compromises the smallest part of the promotions budget?

Public relations

BruceCo is planning to introduce a new line of blended coffee for amateur athletes. In addition to running newspaper advertisements, BruceCo wrote a press release describing the new product and its benefits. The press release was sent to local newspapers television stations. This is an example of using _____________ to promote a product?

Publicity

Push

The basic communication model describes how a message is transmitted from a sender to a receiver. The receiver's _________ depends on how the message was interpreted by the receiver?

Response

A(n) ______________ is a tool for evaluating an organization's internal and external strengths and weaknesses?

SWOT analysis

John Wannamaker is reputed to have said "I know that half of my advertising dollars are wasted, I just don't know which half." This illustrates a major problem in evaluating advertising effectiveness which is?

There is a low correlation between running an advertisement and a change in sales.

The quotation "I know that half of my advertising budget is wasted; but I don't know which half" illustrates the fundamental problem with measuring the effectiveness of promotions. The problem is?

There is not a direct link between promotion expenditures and sales performance

The reason integrated marketing communications campaigns are so powerful is that?

These are all reasons why integrated marketing communications can be so powerful

The _____________ is the result of eliminating middle management positions in order to shorten lines of communication within the organization?

Trend toward flatter organizations

When sending and receiving information, a ________ is a method of encoding information?

cue

The basic communication model describes how a message is transmitted from a sender to a receiver. The only way a sender can know whether the message has been received is through?

feedback

Marketers of products such as Valentines Day chocolates frequently use a ____________ advertising scheduling tactic.

flighting

BruceCo is introducing a line of coffee for amateur athletes. They feel that the coffee will have the most appeal for men, aged 25-50, who run three times a week and are likely to participate in one or more races each year. Which advertising medium might be the best way to reach this target audience?

magazine

Unlike personal selling, advertising is ____________?

mass communications

The two major costs associated with an advertising campaign are?

media, creative

The basic communication model describes how a message is transmitted from a sender to a receiver. Any of the several factors that could interfere with the ability of the sender to transmit the encoded message accurately are called?

noise

____________ is a strategic communication process that builds mutually beneficial relationship between organizations and their publics?

public relations

Sanjeev was opening a new shrimp farm in Louisiana. Shrimp is the number one selling seafood in the United States and he felt that growing demand would allow a new business to succeed. In order to convince the buyer at Winn Dixie grocery stores to carry his product, he ran coupons in the local newspaper where Winn Dixie had stores offering customers a free 16 ounce bag of frozen shrimp. These customers would bring the coupon into the store and ask for the product. Sanjeev was using a _______ promotion strategy?

pull

___________ is defined as achieving conventional goals with unconventional methods, such as investing energy instead of money?

Guerilla marketing

Irene wanted to start a Juice drink business in San Mateo. She felt that in order to build the traffic she needed to make the store successful, she should develop an integrated marketing communications program that included outdoor advertising on billboards near to her store, coupons printed in the local shopper newspaper, radio advertisements during afternoon drive time and on weekends, television ads on the food network using her local cable operator and a couple of giant helium balloons flying over her shop for the grand opening. Because she didn't have the $175,000 to pay for the entire campaign, she decided to buy a couple of giant helium balloons for $500 and to do the rest of the things after the shop opened and she had some cash flow coming in. This is an example of the ______________ approach to setting the promotion budget?

All you can afford

BruceCo decided to introduce a new blend of coffee in its wildly popular coffee shops. The plan was to introduce the new blend with a series of local television ads on the evening news because people who watch the news are more likely to be premium coffee drinkers. They followed this up with keyword ads for the next two weeks. Finally they would purchase advertising space on the side of busses and run drive-time radio ads during the four weeks the bus signs were being displayed. This is an example of?

An advertising campaign

When manufacturers engage in _______________, a form of trade sales promotion, a certain percentage of the retailer's sales goes into a fund that the retailer can use to advertise the manufacturer's product?

Co-op advertising

The "Wheel of Fortune" is a game show that has been running on television for a long long time. In order to encourage people to watch the show the producers allow people to go online and create a Spin ID. Sometime during the television show, a spin ID number will be shown on the screen and the person who has that Spin ID will receive the same prize as the contestant on the game show. This is an example of a ___________ sales promotion?

Contest

The product market growth matrix suggests four strategies based on customers and products. Which of the following is NOT one of the basic strategies suggested by this approach?

Differentiation

What is the relationship between the richness of an information channel and the ability to stimulate emotions?

In order to stimulate emotions with advertising, you need an information rich medium such as television.

The objective of an advertisement for a product in the introductory stage of the product life cycle is probably ___________?

Informing

Whenever I go into Safeway, I have to scan my Safeway card to receive the advertised discounts. Sometimes, when I have purchased a certain amount of groceries, the cash register will spit out a coupon good for 5% off of my next purchase. This is an example of a ____________ sales promotion?

Loyalty program

Which element of the promotional mix usually compromises the largest part of the promotions budget?

Sales promotion

The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The LAST thing you have to do is?

Tell the person what you want them to do.

Lindsay Wagner, the Bionic Woman of classic television fame, appears in advertisements for the Sleep Comfort Adjustable bed. In the advertisement, she explains how the ability to change the level of firmness in the mattress has changed her life. This is an example of a(n) __________ appeal in advertising?

Testimonial

One of the problems with sales promotions is that?

The effects tend to be short lived

What do we mean when we speak of ad 'clutter'?

There are so many advertisements out there that it is hard for marketers to get people to notice their ad.

Television networks share the space to run ads during a program with local affiliate stations.

True

Unaided recall

Which of these is a question you should be asking when establishing the objective for a promotional campaign?

Who is the target audience?

Coors light ran a series of beer advertisements where footage of Bill Walsh, the former head coach of the San Francisco 49ers, taken from press conferences was edited to make it appear that he was answering questions about beer asked by intoxicated fans. This is an example of a(n) ___________ appeal in advertising?

Marketing Final Review

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