Marketing Quiz (Ch. 12, 13, 14, 15)

D_______ stores are general merchandise outlets that offer brand name and private label products at low prices. (12-3)

Discount

What are the six major types of physical-store retailers? (12-3)

Discount stores, full-line discount stores, warehouse clubs, convenience stores, off-price retail stores, service retailers

E__________ means giving employees permission to make decisions and take action on their own to help customers who've had negative experiences. (15-3)

Empowerment

True or False: Customer satisfaction always leads to loyalty (15-2)

False

A_________ v______ is the most personal form of retailing. It's small space requirements and 24/7 availability make this a cost-efficient alternative for certain products, particularly in high-traffic areas. (12-4)

Automated vending

B_____ e_____ is the value the firm derives from consumers' positive perception of it's products (14-2)

Brand equity

B____ l____ customers exhibit less sensitivity to price, making them an important contributor to a firm's long-term success and profitability (14-1)

Brand loyal

B____ r__________ based on symbols and logos can be a powerful marketing tool (14-1)

Brand recognition

B_____ r_____________ is a strategy to recapture lost sources of brand equity and identity and establish new sources of brand equity. (14-3)

Brand revitalization

F___ l____ d________ stores carry a wide assortment of merch across popular categories. Stores like Walmart and Target sell apparel, cosmetics, sporting goods, toys, electronics, kitchenware, home furnishings, garden accessories, and auto items.(12-3)

Full line discount

Search Engine ________ is the process of generating website traffic by purchasing ads on search engines. These paid listings are those links that typically appear either at the very top or upper right of a search results page. (13-2)

Marketing

N______ retailing includes online retailing as well as automated vending and direct selling (12-4)

Nonstore

O__ p_____ r_____ stores feature brand-name (sometimes designer) merch bought at less-than-regular wholesale prices and sold at less-than-retail prices. (12-3)

Off-price retail

P______ l____ brands are products developed by retailers. They are often positioned as lower-cost alternatives to well-known manufacturer brands (14-3)

Private label

Social media plays an increasingly important role in how c________ discover, research and share information about brands and products (13-1)

consumers

To have a successful digital marketing strategy, you must have a sound, organized approach to developing and managing c______. (13-4)

content

C________ s_____ are small, self-service stores that are open long hours and carry a limited number of frequently purchased items(12-3)

convenience stores

The minority of retailers are bound together under some form of c_______ or c________ organization (12-2)

corporate, contractual

Today, dozens of large, multinational retailers do business across multiple c______ (12-1)

countries

The complexity of both the goals and the audiences that nonprofit organizations have to address makes branding not critical/critical in the nonprofit sector. (14-7)

critical

A brand represents everything that a good, service, or idea means to a current, former, or potential c_______ (14-1)

customer

The objective of relationship marketing is to find ways to keep and build upon good relationships with current c________ (15-3)

customers

Two common ways social media support brand building across industries are: (1) helping company deepen relationships with its c________, and (2) generating positive word-of-mouth communication that can spread across social n_______ (14-4)

customers, networks

The use of social and mobile technologies provides marketers with new tools that can simultaneously serve to (1) d_____ customer's brand engagement, and (2) provide marketers with real-time feedback about what tactics are e________ (13-1)

deepen, effective

Brand equity is based on four dimensions: d______________, r________, e_____, and k________

differentiation, relevance, esteem, knowledge

Some companies distribute their products and services through d_____ s_____. In this form of retailing, an independent rep of a company conducts retail and sales-related activities away from a fixed retail location, most often at consumers' homes or place of business. (12-4)

direct selling

The nonprofit brand has to further the mission at every step and motivate d_____, s___, v_________, b____________, and p______ to contribute funds and support (14-7)

donors, staff, volunteers, beneficiaries, partners

Online retailing is also known as.... (12-4)

e-retailing

An effective nonprofit brand should be unique, pleasing to the eye and e__, easy to r______, and reflective of the work the organization d_____. (14-7)

ear, remember, does

Consumers and business decision makers increasingly utilize social media for e___________, c____________, and i_________ purposes. As a result, marketers are investing greater resources into social media marketing activities. (13-3)

entertainment, communication, information

High brand equity provides three major benefits to marketers: (1) increases firm's ability to succeed in a difficult e__________, (2) facilitate a brand's expansion into new m______, (3) contribute to positive p__________ of product quality (14-2)

environment, markets, perceptions

Measuring brand equity is fundamental to understanding how to build and manage e_____ over time (14-2)

equity

Marketers should choose a brand strategy that increases their brand e_____ without diluting profits or damaging the attractiveness of the b____ (14-3)

equity, brand

Customer satisfaction is achieved when companies meet the needs and e__________ customers have for their goods and services (15-2)

expectations

Which branded content created by the organization is often a central focus, marketers can strengthen interactions by integrating content created by e______ and c________ (13-4)

experts, consumers

A brand e________ is the process of broadening the use of an organization's current brand to include new products (14-3)

extension

A g_____ brand is a brand that is marketed under the same name in multiple countries (14-6)

global

Building a strong brand is a complicated task, and the challenge becomes greater when the branding becomes g_____ (14-6)

global

The modern retail environment is one that is increasingly g_____ and d______ (12-1)

global and dynamic

Global branding is mainly about finding the right balance between being g_____ and being l____ (14-6)

global and local

Industry consolidation and flattening sales growth in established markets have led more retailers to seek out g______ and o_______ growth opportunities (12-1)

global, online

Brands, retailers, and advertising agencies use l_______ b____ m________ (LBM) to adapt content, messaging, and service delivery by making assumptions about an individual based on using GPS data transmitted from mobile devices (13-4)

location-based marketing

Consumers increasingly use social media to express their l______ to their favorite brands. Many seek to reap benefits from brands for helping promote their products (14-4)

loyalty

The ultimate objective behind achieving customer satisfaction is to promote brand l______ (15-2)

loyalty

A successful brand leads to increased brand l______ and more recognizable p_______ (14-1)

loyalty, products

U.S. firms should understand and seek to capitalize on the strength of their brands in global m______ (14-6)

markets

Customer service involves all of the activities, both human and m________, a firm engages to satisfy the needs and wants of its customers (15-1)

mechanical

Monitoring activities also involves tracking social media marketing performance m______. Several of the most commonly tracked by digital marketing include v_____, e_________, s________, and share of v_____ (13-5)

metric, volume, sentiment, voice

Because different retailers need different kinds of locations, the merits of any given site will depend on the n______ of a given retailer's business (12-5)

nature

Digital marketers must guard against intrusive tactics that violate policy n_____ and must remain steadfast in protecting their customers' personal info from m_____. (13-6)

norms, misuse

Retailers who have thrived during the "retail apocalypse" share several key characteristics. These include adoption of an o___________ business model, reliance on B__ D____ and advanced analytics in d_______ m______, focus on creating engaging and memorable c_______ e__________, and effective i___________ of emerging retail technologies (12-6)

omnichannel, Big Data, decision making, customer experiences, integration

There are three key areas retail strategists must continuously evaluate: maintaining and improving o_______ efficiency, store l______ and site s_______, and store i____ and p_______. (12-5)

operating, location, selection, image, positioning

The quality of the brand has to be communicated by good p________, not just by promises of quality made in the text on the p________ (14-4)

packaging, packaging

The practice of retailing encompassess all of the business activities involved in the sales of goods and services to the ultimate consumer for their p_____, f_____, or h_________ use. (12-1)

personal, family, household

U.S. firms should focus on factors that drive consumers to pay a p______ price for global brands, including the conviction that global brands represent better quality and the latest innovations (14-6)

premium

Delivering a successful brand involves four essential components: (1) deliver a quality p______, (2), create a consistent brand i____, (3) create consistent brand m________, and (4) capture f_______ (14-1)

product, image, messaging, feedback

Many new p_______ are brand extensions, which provide the new good or service increased recognition and faster acceptance (14-3)

products

If brand loyalty is achieved in a cost-effective manner, it will drive long-term p____________ (15-2)

profitability

Maximizing customer satisfaction must remain in balance with p___________. (15-2)

profitability

In a business, loyal customers translate to consistent p______ and potential growth in sales. (15-3)

profits

Some of the most common metrics companies use to track how well they are meeting these objectives include: fill, item fill, and dollar fill r____; on-time d______; perfect o_____ rate; order cycle t___; communication, and responsiveness. These metrics must be developed with customer input for customer satisfaction to be achieved (15-1)

rate, delivery, order, time

Quantitative techniques that marketers use to measure brand equity include: (1) brand r__________, (2) b_____ recall, (3) customer lifetime v____ (CLV) (14-2)

recognition, brand, value

R___________ marketing refers to long-term arrangements in which a firm seeks to build mutually beneficial exchanges with a customer. (15-3)

relationship

Since 2010, more than 12,000 physical-store locations have closed, what industry experts have termed a r______ a_________. (12-6)

retail apocalypse

The major forms of r______ o_________ are corporate chains, retailer cooperatives, voluntary chains, and franchise organizations (12-2)

retail organizations

A r_______ is an organization that purchases products for the purpose of reselling them to the ultimate customer. (12-1)

retailer

Empowered employees typically experience job s__________, which enables them to contribute to customer s_________. (15-3)

satisfaction, satisfaction

Marketers commonly classify retailers along four key dimensions: level of s______, breadth and depth of m___________ assortment, merchandise p_______, and o________/organization (12-2)

service, merchandise, pricing, ownership

The complex, fast-moving nature of retail means that decision-makers must continuously adjust strategies to match shifts in s_____ p_______. (12-4)

shopper preferences

Social media monitoring, or s_____ l________, is the process of identifying and assessing what is being said on the internet about a company, individual, product, or brand (13-5)

social listening

Customers prefer to use s_____ m____ over phone or email to address their customer service issues (13-5)

social media

A company's customer service strategy must be built around a set of common objectives for all company employees: deliver the good or service completely in a t____ manner; ensure the reliability of the process for taking and fulfilling customer o_____; establish convenient communication channels between the company and its c________, and establish ease of doing business with the f___. (15-1)

timely, orders, customers, firm

Ensuring websites appear near the bottom/top of relevant results is a critical component to the success of digital marketing strategies (13-2)

top

Several best practices for social media ethics: t___________, respect for p______, proper attribution of c______ for shared content, and full disclosure of brand a__________ by marketers and spokespersons. (13-6)

transparency, privacy, credit, affiliations

The keys to building customer relationships: (1) establish ways in which the customer receives more v____ from an exchange with the company than from other firms, (2) deliver goods to consumers in ways that meet or exceed their e_________. If the company fails in either, the customer may have a negative experience, which can damage the relationship. (15-3)

value, expectations

Packaging uses w____, s______, c_____, p_______, and d______ to help communicate the brand's attributes to consumers (14-4)

words, symbols, colors, pictures, designs

S_____ m_____ m_______ uses combos of digital tools such as websites, online videos, e-mail, blogs, social media, mobile ads, mobile apps, and other digital platforms. (13-3)

Social media marketing

B____ a___ m_____ locations are struggling to stay relavent because e-commerce is stealing more and more business. (12-6)

Brick and mortar

C_ b_______ is a strategy in which two or more companies issue a single product in an effort to capitalize on the equity of each company's brand (14-3)

Co-branding

A K____ score measures a user's influence based on his or her ability to drive other people to act on social media sites. It's calculate by looking at the number of people a specific user influences, how much influence the user holds, and how influential the user's network is (14-4)

Klout

O_______ r______ is B2C electronic commerce in which individual consumers directly buy goods or services over the Internet (12-4)

Online retailing

Search Engine _______ is the process of obtaining more traffic based on higher rankings of free or "organic" search results on search engines. (13-2)

Optimization

Search marketing encompassess two closely related practices: Search Engine O________ (SEO) and Search Engine M________ (SEM). (13-2)

Optimization, Marketing

P________ is all of the activities of designing and producing the container for the product. It is one of the most underappreciated tools on marketing (14-4)

Packaging

S____ m____ refers to Internet-based platforms that enable users to create their own content and share it with others who access these sites. (13-1)

Social media

SEO/SEM seeks to engage consumers anywhere, anytime via their computers, smartphones, tablets, Internet-enabled TVs, and other digital devices. (13-3)

SEM

S_____ m________ involves a set of techniques and procedures to improve search engine results rankings. (13-2)

Search marketing

S_____ r______ primarily offer mechanical or human efforts (services) rather than merch to consumers (12-3)

Services retailers

True or False: Regarding customer satisfaction, firms must seek to delight, not just satisfy, their customers. (15-2)

True

True or False: Using customer data as a means of targeting vulnerable customer populations is a hot-button issue. (13-6)

True

W________ c_____ operate in warehouse-like facilities that offer merch in bulk quantities, at ultra-low prices, to shoppers who pay an annual fee to join. (12-3)

Warehouse clubs

Two qualitative techniques that marketers use to measure brand equity: (1) free a_________ and (2) projective t_______ (14-2)

association, techniques

Content can take the form of b____, white p_____, v_____, live-streaming w______, t_____, and more (13-4)

blogs, white papers, webcasts, tweets

A b_____ is the name, term, symbol, design, or any combination of these that identify and differentiate a firm's products. (14-1)

brand

By interacting with consumers in a fun, helpful, and interesting manner, social media can help build a successful b____ by enabling the firm to develop deeper relationships with customers, and by generating positive word-of-mouth communication about it across social networks. (13-3)

brand

Retail managers seek to establish a distinctive b_____ i_____ through careful attention to store design, atmospherics, and merchandising tactics. (12-5)

brand imaging

Opening a retail store involves low/high costs and a/no commitment of company resources. (12-5)

high, a

The h____ an influencer's Klout score, the more appealing they are to a brand (14-4)

higher

Packaging promotes and reinforces brand i____ (14-4)

image

The majority of retail operations are operated by i_______ retailers, owned and operated by a single person or group. They are not operated as a part of a larger network (12-2)

independent