MKT 3050 Test 3 & 4

Which of the following refers to a product that consumers perceive to be new and different from existing​ products? A. Dynamically continuous innovation B. Discontinuous innovation C. Knockoff D. Innovation E. Continuous innovation

Innovation

Utilizing the communication​ model, which of the following is an example of​ medium? A. Brand loyalty B. Company C. Advertising D. Television E. Sales promotion

Television

A consumer who makes Starbucks coffee part of the daily routine has which of the following brand​ relationships? A. Nostalgic attachment B. Love C. Brand meaning D. Interdependence E. ​Self-concept attachment

interdependence

Following the introduction of a new product in the​ marketplace, which of the following stages of the product life cycle features slow​ growth? A. Growth stage B. Cannibalization C. Introduction stage D. Decline stage E. Maturity stage

introduction stage

Which of the following refers to an amount added to the cost of a product to create the price at which a channel member will sell the​ product? A. Gross margin B. Retailer margin C. Wholesaler margin D. List price or​ manufacturer's suggested retail price​ (MSRP) E. Markup

markup

Which of the following stages of the product life cycle is most likely to utilize reminder advertising for marketing communications as profit margins​ narrow? A. Maturity stage B. Cannibalization C. Growth stage D. Introduction stage E. Decline stage

maturity stage

Which of the following refers to the total set of all products offered for sale by a​ retailer, including all product lines sold to all consumer​ groups? A. Merchandise breadth B. Merchandise mix C. Combination stores D. Merchandise depth E. Merchandise assortment

merchandise mix

Which of the following refers to a system in which a master distributor recruits other people to become​ distributors, sells the​ company's product to the​ recruits, and receives a commission on all the merchandise sold by the people​ recruited? A. ​Business-to-consumer (B2C)​ e-commerce B. Virtual experiential marketing​ (VEM) C. Party plan system D. Network marketing E. Pyramid scheme

network marketing

Ebay, eCrater,​ Bonanzle, eBid, and CQou all utilize which of the following models to allow shoppers to bid on everything from bobbleheads to​ health-and-fitness equipment to a Sammy Sosa​ home-run ball. A. Internet price discrimination strategy B. Freemium strategy C. Online auctions D. Price lining E. Dynamic pricing

online auctions

Which of the following refers to a retail​ store, such as a temporary Halloween costume​ store, that opens and then disappears after a period of one day to a few​ months? A. Variety store B. ​Pop-up store C. Supercenter D. Leased department E. Warehouse club

pop-up store

Which of the following is an illegal pricing strategy in which a company sets a very low price for the purpose of driving competitors out of​ business? A. Surge pricing B. Price fixing C. ​Loss-leader pricing D. ​Bait-and-switch E. Predatory pricing

predatory pricing

Which of the following refer to the assignment of​ value, or the amount the consumer must exchange to receive the offering or​ product? A. Prestige products B. Total cost C. Price D. Market share E. Bitcoin

price

Which of the following occurs when two or more companies conspire to keep prices at a certain​ level? A. Surge pricing B. Price fixing C. Predatory pricing D. ​Bait-and-switch E. ​Loss-leader pricing

price fixing

Which of the following refers to the costs of production that vary depending on the number of units​ produced? A. Markup B. Variable cost C. Contribution per unit D. Fixed cost E. Total cost

variable cost

Which of the following refers to a vertical marketing system in which channel members remain independent but voluntarily work together because of the power of a single channel​ member? A. Administered VMS B. Retailer cooperative C. Contractual VMS D. Corporate VMS E. Conventional marketing system

Administered VMS

Which of the following SERVQUAL dimensions refers to the knowledge and courtesy of​ employees, and ability to convey trust and​ confidence? A. Reliability B. Assurance C. Empathy D. Responsiveness E. Tangibles

Assurance

Which of the following terms refers to​ features, functions,​ benefits, and uses of a​ product? A. Good B. Actual product C. Augmented product D. Attributes E. Core product

Attributes

Which of the following product layers might include a​ warranty, credit,​ delivery, installation, and repair service after the sale because marketers know that adding these supporting features to a product is an effective way for a company to stand out from the crowd. A. Actual product B. Good C. Core product D. Attributes E. Augmented product

Augmented product

A company is most likely going to use a media blitz in which step of the adoption​ pyramid? A. Adoption B. Evaluation C. Interest D. Trial E. Awareness

Awareness

Which of the following refers to an allocation of the promotion budget based on identifying promotion goals and allocating enough money to accomplish​ them? A. ​Percentage-of-sales method B. ​Top-down budgeting technique C. ​Competitive-parity method D. ​Bottom-up budgeting techniques E. ​Objective-task method

Bottom-up budgeting techniques

Which of the following refers to a​ name, a​ term, a​ symbol, or any other unique element of a product that identifies one​ firm's product(s) and sets it apart from the​ competition? A. Brand meaning B. Trademark C. Brand equity D. Brand E. Brand storytelling

Brand

​________ provides a competitive advantage because it gives the brand the power to capture and hold onto a larger share of the market and to sell at prices with higher profit margins. A. Brand storytelling B. A trademark C. A brand D. Brand meaning E. Brand equity

Brand equity

Which of the following refers to one of the two ways distribution channels create efficiencies by reducing the number of transactions necessary for goods to flow from many different manufacturers to a large number of​ customers? A. Wholesaling intermediaries B. Independent intermediaries C. Transportation and storage D. Breaking bulk E. Disintermediation​ (of the channel of​ distribution)

Breaking bulk

Which of the following refers to online exchanges between companies and individual​ consumers? A. Virtual experiential marketing​ (VEM) B. Network marketing C. Party plan system D. Pyramid scheme E. ​Business-to-consumer (B2C)​ e-commerce

Business to consumer (B2C) e-commerce

Which of the following refers to the loss of sales of an existing brand when a new item or product family is​ introduced? A. Product line B. Stock keeping unit​ (SKU) C. Cannibalization D. Product mix E. Product management

Cannibalization

Which of the following refers to a discount to the retailer or wholesaler based on the volume of product​ ordered? A. Merchandising allowance B. Case allowance C. Trade shows D. Trade promotions E. Promotional products

Case allowance

Which of the following refers to a very large specialty​ store, like Best​ Buy, that carries a vast selection of products in its​ category? A. Variety store B. Factory outlet store C. Category killer D. Warehouse club E. Department store

Category killer

Which of the following occurs when​ producers, wholesalers, and retailers depend on one another for​ success? A. Retailer cooperative B. Channel power C. Channel cooperation D. Channel leader E. Channel conflict

Channel cooperation

Which of the following is the phase in the new product development process in which companies launch a new​ product, and it requires​ full-scale production,​ distribution, advertising, and sales​ promotion? A. Product concept development and screening B. Market strategy development C. Commercialization D. Test marketing E. Idea generation

Commercialization

Which of the following terms refers to the extent to which a new product is consistent with​ one's existing cultural​ values, customs, and​ practices? A. Relative advantage B. Product adoption C. Diffusion D. Tipping point E. Compatibility

Compatibility

Which of the following refers to a modification to an existing​ product, to set one brand apart from its​ competitors? A. Discontinuous innovation B. Innovation C. Continuous innovation D. Convergence E. Dynamically continuous innovation

Continuous innovation

Which of the following refers to a consumer product that is usually​ low-priced, widely​ available, and purchased frequently with a minimum of comparison and​ effort? A. Convenience product B. Impulse product C. Unsought product D. Staple product E. Emergency product

Convenience product

Which of the following refers to a​ multiple-level distribution channel in which channel members work independently of one​ another? A. Administered VMS B. Contractual VMS C. Corporate VMS D. Conventional marketing system E. Vertical marketing system​ (VMS)

Conventional marketing system

Which of the following refers to a vertical marketing system in which a single firm owns​ manufacturing, wholesaling, and retailing​ operations? A. Retailer cooperative B. Administered VMS C. Contractual VMS D. Corporate VMS E. Conventional marketing system

Corporate VMS

Which of the following refers to one of the two ways distribution channels create efficiencies by reducing the number of transactions necessary for goods to flow from many different manufacturers to a large number of​ customers? A. Creating assortments B. Disintermediation​ (of the channel of​ distribution) C. Transportation and storage D. Wholesaling intermediaries E. Independent intermediaries

Creating assortments

Which of the following refers to the act of tailoring the level of customer service based on a​ customer's perceived ability to​ pay? A. Shrinkage B. Customer profiling C. Experiential shoppers D. Retailtainment E. Retail borrowing

Customer profiling

Which of the following logistics elements found in transportation refers to the ability of the carrier to locate goods in​ shipment? A. Dependability B. Speed of delivery C. Cost D. Capability E. Traceability

Dependability

Which of the following refers to an interactive sales process in which a salesperson presents a product to one individual or a small​ group, takes​ orders, and delivers the​ merchandise? A. Retailing B. Direct selling C. Green River Ordinances D. Nonstore retailing E. Merchandise mix

Direct selling

Which of the following refers to a process of developing distribution​ objectives, evaluating internal and external environmental influences on​ distribution, and choosing a distribution​ strategy? A. Slotting allowance B. Conventional marketing system C. Vertical marketing system​ (VMS) D. Distribution intensity E. Distribution planning

Distribution planning

Which of the following terms refers to a type of modification in which an existing product that requires a moderate amount of learning or behavior​ changes? A. Innovation B. Knock off C. Discontinuous innovation D. Continuous innovation E. Dynamically continuous innovation

Dynamically continuous innovation

Which of the following adopters are concerned about social​ acceptance, so they tend to gravitate toward products they believe will make others think they are​ cutting-edge or fashionable. A. Early adopters B. Laggards C. Late majority D. Innovators E. Early majority

Early adopters

Which of the following refers to demand in which changes in price have large effects on the amount​ demanded? A. Inelastic demand B. Price elasticity of demand C. Elastic demand D. ​Break-even point E. ​Cross-elasticity of demand

Elastic demand

Which of the following SERVQUAL dimensions refers to the degree to which the service provider genuinely cares about customers and takes the customer perspective into account when delivering​ service? A. Tangibles B. Responsiveness C. Assurance D. Empathy E. Reliability

Empathy

Which of the following refers to the process of translating an idea into a form of communication that will convey​ meaning? A. Medium B. Message C. Receiver D. Encoding E. Source

Encoding

Which of the following refers to the stage of the product adoption pyramid in which consumers weigh the costs and benefits of the new​ product? A. Awareness B. Evaluation C. Adoption D. Trial E. Interest

Evaluation

Which of the following pricing tactics refers to a pricing tactic in which the cost of transporting the product from the factory to the​ customer's location is the responsibility of the​ customer? A. Freight absorption pricing B. F.O.B. origin pricing C. Uniform delivered pricing D. F.O.B. delivered pricing E. Captive pricing

FOB origin pricing

Which of the following refers to making the purchase process easier for customers and​ manufacturers? A. Breaking bulk B. Facilitating functions C. Transportation and storage D. Communication and transaction function E. ​Risk-taking functions

Facilitating functions

Which of the following refers to a measure used for comparing the effectiveness of different media vehicleslong dash—average reach​ frequency? A. Aided recall B. Attitudinal measures C. Cost per thousand​ (CPM) D. Unaided recall E. Gross rating points​ (GRPs)

Gross rating points (GRPs)

Which of the following stages of the product life cycle features new competitors that enter the market creating new variations of the​ product? A. Maturity stage B. Decline stage C. Introduction stage D. Growth stage E. Cannibalization

Growth stage

Which of the following refers to an arrangement within a channel of distribution in which two or more firms at the same channel level work together for a common​ purpose? A. Franchise organization B. Vertical marketing system​ (VMS) C. Conventional marketing system D. Horizontal marketing system E. Retailer cooperative

Horizontal marketing system

Which of the following is a question a firm would ask when evaluating the​ firm's strategy on an innovation​ scorecard? A. Does the organization have an appetite for learning and trying new​ things? B. Does the organization intentionally avoid trying new​ things? C. Does leadership encourage members of an organization to try things without fearing​ failure? D. Do the​ organization's members have the freedom and security to try​ things, fail, and then go forward to try different​ things? E. How aware are organization members of the​ firm's goals for​ innovation?

How aware are organization members of the firm's goals for innovation

Which of the following refers to the characteristic of a service that means that it is impossible to separate the production of a service from the consumption of that​ service? A. Variability B. Capacity management C. Intangibility D. Inseparability E. Perishability

Inseparability

Which of the following refers to a practice in which a company contracts with a specialist firm to handle all or part of its supply chain​ operations? A. Reverse logistics B. Supply chain C. Insourcing D. Supply chain management E. Warehousing

Insourcing

Which of the following refer to a strategic business process that marketers use to​ plan, develop,​ execute, and evaluate​ coordinated, measurable, persuasive brand communication programs over time to targeted​ audiences? A. Integrated marketing communication​ (IMC) B. Promotion C. Communication model D. ​Word-of-mouth communication E. Multichannel promotional strategy

Integrated marketing communication (IMC)

Which of the following refers to an inventory management and purchasing process that manufacturers and resellers use to reduce inventory to very low levels and ensure that deliveries from suppliers arrive only when​ needed? A. Supply chain management B. Inventory turnover C. Just in time​ (JIT) D. Stock outs E. Inventory control

Just in time

A Picture Me portrait studio found in a Walmart store is an example of which of the following types of​ retailers? A. Warehouse clubs B. ​Off-price retailers C. Factory outlet stores D. Leased departments E. Department stores

Leased departments

Which of the following refers to the process of​ designing, managing, and improving the movement of products and includes​ purchasing, manufacturing,​ storage, and​ transport? A. Supply chain management B. Physical distribution C. Reverse logistics D. Supply chain E. Logistics

Logistics

Which of the following characteristics favors an exclusive distribution​ strategy? A. Low cost of serving individual customers B. Low customer density and service and cooperation as priorities C. Based on a strong market​ presence, often through advertising and promotion D. Oriented toward mass markets E. Overlapping market coverage

Low customer density and service and cooperation as priorities

Light​ bulbs, mops, and cleaning supplies are products business customers consume them in a relatively short time. Which product category best fits these​ products? A. ​Maintenance, repair, and operating​ (MRO) products B. Processed materials C. Raw materials D. Equipment E. Component parts

MRO products

Which phase of the new product development process involves identifying the target​ market, estimating its​ size, and determining how the company can effectively position the product to address the target​ market's needs? A. Idea generation B. Market strategy development C. Test marketing D. Commercialization E. Product concept development and screening

Market strategy development

Which of the following refers to the moving of products​ into, within, and out of​ warehouses? A. Materials handling B. Transportation C. Order processing D. Warehousing E. Distribution center

Materials handling

Which of the following refers to the variety of choices available for each specific product​ line? A. Merchandise mix B. Merchandise assortment C. Merchandise depth D. Mergers E. Merchandise breadth

Merchandise depth

Which of the following describes a benefit for consumers who utilize​ e-commerce? A. Conflict with conventional retailers B. Expensive to order and then return C. More product choices D. Decreased cost of doing business E. Lack of security

More product choices

Which of the following is a limitation for a marketer using​ e-commerce? A. Very specialized businesses can be successful B. Less traveling C. Shop 24 hours a day D. Must maintain site to reap benefits E. Can receive relevant information in seconds

Must maintain site to reap benefits

Which of the following logistics functions refers to a series of activities that occurs between the time an order comes into the organization and the time a product goes out the​ door? A. Transportation B. Warehousing C. Distribution center D. Order processing E. Materials handling

Order processing

Which of the following refers to a type of technology that has led to an evolution in retailing by collecting sales data and is hooked directly into the​ store's inventory-control​ system? A. Experiential shopper B. ​Point-of-sale (POS) system C. Automatic reordering system D. ​Wheel-of-retailing hypothesis E. Perpetual inventory unit control system

POS system

Which of the following utilizes a sales technique in which a company representative known as a​ consultant, distributor, or advisor makes a sales presentation to a group of people who have gathered in the home of a​ friend? A. Party plan system B. ​Business-to-consumer (B2C)​ e-commerce C. Network marketing D. Pyramid scheme E. Virtual experiential marketing​ (VEM)

Party plan system

Which of the following refers to the characteristic of a service that makes it impossible to store for later sale or​ consumption? A. Intangibility B. Perishability C. Disintermediation D. Inseparability E. Variability

Perishability

Which of the following refers to the activities that move finished goods from manufacturers to final​ customers, including order​ processing, warehousing, materials​ handling, transportation, and inventory​ control? A. Wholesaling intermediaries B. Physical distribution C. Independent intermediaries D. Channel intermediaries E. Channel of distribution

Physical distribution

Which of the following refers to products that organizational customers purchase to use in their finished​ products? A. Equipment B. ​Maintenance, repair, and operating​ (MRO) products C. Component parts D. Raw materials E. Processed materials

Raw materials

Which of the following is the second phase in the new product development​ process? A. Technical development B. Idea generation C. Business analysis D. Product concept development and screening E. Market strategy development

Product concept development and screening

Which of the following refers to the systematic and usually​ team-based approach to coordinating all aspects of a​ product's strategy development and​ execution? A. Product line B. ​Product-line length C. Product mix D. Product management E. Cannibalization

Product management

Which of the following refers to the number of different product lines the firm​ produces? A. Product quality B. Product mix C. Product line D. Cannibalization E. Product mix width

Product mix width

Which of the following involves an illegal sales technique that promises consumers or investors large profits from recruiting others to join the program rather than from any real investment or sale of goods to the​ public? A. Network marketing B. Party plan system C. ​Business-to-consumer (B2C)​ e-commerce D. Virtual experiential marketing​ (VEM) E. Pyramid scheme

Pyramid scheme

Which of the following refers to a consumer practice of purchasing a product with the intent to return the nondefective merchandise for a refund after it has fulfilled the purpose for which it was​ purchased? A. Retail borrowing B. Customer profiling C. Shrinkage D. Retailtainment E. Experiential shoppers

Retail borrowing

Which of the following refers to the final stop in the distribution channel in which organizations sell goods and services to consumers for their personal​ use? A. Automatic reordering system B. ​Point-of-sale (POS) system C. Retailing D. Perpetual inventory unit control system E. Retailtainment

Retailing

​________ is suitable for most shopping​ products, such as household appliances and electronic equipment for which consumers are willing to spend time visiting different retail outlets to compare alternatives. A. Intensive distribution B. Retailer cooperative C. Franchise organization D. Selective distribution E. Exclusive distribution

Selective distribution

Tablet computers are an example of​ a(n) ________ because the consumer spends considerable time and effort gathering information and comparing alternatives before making a purchase. A. staple product B. convenience product C. specialty product D. shopping product E. unsought product

Shopping product

In the traditional promotion​ mix, which of the following is a negative of​ advertising? A. Costs more per contact than mass appeals B. High cost per contact with customer C. Lack of control over the message that is eventually transmitted and no guarantee that the message will ever reach the target D. Some ads having low credibility​ and/or being ignored by the audience E. ​Short-term emphasis on immediate sales rather than a focus on building brand loyalty

Some ads having low credibility​ and/or being ignored by the audience

Which of the following refers to a​ retailer, like Things​ Remembered, that carries only a few product lines but offers a good selection within the lines that it​ sells? A. Hypermarket B. Specialty store C. Box store D. Factory outlet store E. Category killer

Specialty Store

In which step of the advertisement development process does a marketer formulate a creative strategy and develop a creative​ brief? A. Step 2 B. Step3 C. Step 5 D. Step 1 E. Step 4

Step 3

Which of the following steps of the promotional planning process involves deciding on a push or pull​ strategy? A. Step 4 B. Step 2 C. Step 1 D. Step 3 E. Step 5

Step 3

In which step of the price planning process does a firm analyze the​ economy, competition, government​ regulations, consumer​ trends, and the internal​ environment? A. Step 1 B. Step 4 C. Step 2 D. Step 3 E. Step 5

Step 4

At what phase of the new product development process is a firm most likely to create a prototype of the​ product? A. Product concept development and screening B. Idea generation C. Technical development D. Market strategy development E. Business analysis

Technical development

Knowledge Which advertising format does a​ celebrity, an​ expert, or a​ "man in the​ street" state the​ product's effectiveness? A. Testimonial B. Tonality C. Demonstration D. Slice of life E. Lifestyle

Testimonial

Which of the following explains how retail firms change and become more upscale as they go through their life​ cycle? A. A​ point-of-sale (POS) system B. An automatic reordering system C. An experiential shopper D. A perpetual inventory unit control system E. ​Wheel-of-retailing hypothesis

Wheel-of-retailing hypothesis

Which of the following is an advantage of using merchant​ wholesalers? A. They distribute​ low-cost merchandise for small retailers and other business customers B. They are used by most​ small- to​ medium-sized firms C. They ensure perishable items are delivered and sold efficiently D. They facilitate transactions for bulky products E. They allow small manufacturers to serve customers throughout the world with competitive costs

They allow small manufacturers to serve customers throughout the world with competitive costs

Which of the following is an advantage of rack​ jobbers? A. They ensure perishable items are delivered and sold efficiently B. They facilitate transactions for bulky products C. They provide merchandising services to retailers D. They are used by most​ small- to​ medium-sized firms E. They provide reasonably priced sales options to small organizational customers

They provide merchandising services to retailers

Which of the following utilizes many manufacturers to showcase their products to​ attendees? A. Promotional products B. Trade shows C. ​Co-op advertising D. ​Point-of-purchase (POP) displays E. Trade promotions

Trade shows

Which of the following refers to a group of people within an organization who work together to focus exclusively on the development of a new​ product? A. Venture team B. Brand manager C. Product category manager D. Product management E. Market manager

Venture team

________ provide(s) most or all of the services needed to mount a​ campaign, including​ research, creation of ad copy and​ art, media​ selection, and production of the final messages. A. A​ limited-service agency B. An account executive C. Creative services D. A​ full-service agency E. An advertising campaign

a full-service agency

Which of the following refers to a member of the account management department who combines research and account strategy to act as the voice of the consumer in creating effective​ advertising? A. Account executive B. Research and marketing services C. Account planner D. Creative services E. Media planners

account planner

Which of the following refers to the second layer of the product​ concept? A. Attributes B. Actual product C. Good D. Core product E. Augmented product

actual product

Which of the following refers to a deceptive pricing tactic in which an advertised price special is used as bait to get customers into the store with the intention of selling them to a​ higher-priced item? A. Price fixing B. Predatory pricing C. ​Loss-leader pricing D. ​Bait-and-switch E. Surge pricing

bait and switch

Which of the following refers to the most popular and fastest growing digital​ currency? A. Price B. Markup C. Market share D. Bitcoin E. Prestige products

bitcoin

Which of the following is an individual who is responsible for developing and implementing the marketing plan for a single​ brand? A. Product management B. Brand manager C. Market manager D. Product category manager E. Venture team

brand manager

Which of the following is a pricing tactic a firm uses when it has two products that work only when used together by which the firm sells one item at a very low price and then makes its profit on the second​ high-margin item? A. Captive pricing B. Uniform delivered pricing C. F.O.B. delivered pricing D. F.O.B. origin pricing E. Price bundling

captive pricing

Which of the following refers to the series of firms or individuals that facilitates the movement of a product from the producer to the final​ customer? A. Physical distribution B. Channel of distribution C. Wholesaling intermediaries D. Independent intermediaries E. Channel intermediaries

channel distribution

Which of the following branding strategies benefits partnering companies by combining the two brands to provide more recognition power than either enjoys​ alone? A. National or manufacturer brand B. ​Private-label brand C. ​Co-branding D. Generic brand E. Family brand

co-branding

Which of the following refers to a sales promotion where the manufacturer and the retailer share the​ cost? A. Trade promotions B. ​Co-op advertising C. Merchandising allowance D. ​Point-of-purchase (POP) displays E. Frequency programs

co-op advertising

Which of the following refers to manufactured goods or subassemblies of finished items that organizations need to complete their own​ products? A. Raw materials B. Equipment C. Processed materials D. ​Maintenance, repair, and operating​ (MRO) products E. Component parts

component parts

Which the following refers to all the benefits the product will provide for consumers or business​ customers? A. Good B. Actual product C. Augmented product D. Attributes E. Core product

core product

Which of the following refers to advertising that promotes the company as a whole instead of a​ firm's individual​ products? A. Public service advertisements​ (PSAs) B. Institutional advertising C. Corporate advertising D. Product advertising E. Advocacy advertising

corporate advertising

A marketer utilizing the hierarchy of effects would use which of the following promotional efforts to accomplish the purchase​ objective? A. Product placement B. Celebrity endorsements C. Slogans and jingles D. Brochures E. Coupons

coupons

At what stage of the product life cycle is the goal to remain profitable and decide whether to keep or phase out the​ product? A. Cannibalization B. Decline stage C. Introduction stage D. Maturity stage E. Growth stage

decline stage

Which of the following pricing strategies would be used if a firm bases the selling price on an estimate of volume or quantity that it can sell in different markets at different​ prices? A. ​Cost-plus pricing B. Price leadership C. Trial pricing D. ​Demand-based pricing E. Yield management pricing

demand-based pricing

Utilizing the models of marketing​ communication, which of the following tactics is used in the​ one-to-one model? A. Public relations B. Buzz building C. Direct marketing D. Advertising E. Sales promotion

direct marketing

Which of the following refers to a product innovation that requires consumers to learn a great deal to be able to effectively use the product because no similar product has ever been on the​ market? A. Dynamically continuous innovation B. Continuous innovation C. Innovation D. Discontinuous innovation E. Convergence

discontinuous innovation

Which of the following refers to a pricing strategy in which the price can easily be adjusted to meet changes in the​ marketplace? A. Dynamic pricing B. Freemium strategy C. Price lining D. Online auctions E. Internet price discrimination strategy

dynamic pricing

Which of the following refers to an online strategy in which the price can easily be adjusted to meet changes in the​ marketplace? A. Price lining B. Internet price discrimination strategy C. Dynamic pricing D. Freemium strategy E. Online auctions

dynamic pricing

Which of the following refers to a branding strategy in which a group of individual products or individual brands​ share? A. ​Co-branding B. National or manufacturer brand C. Generic brand D. ​Private-label brand E. Family brand

family brand

Which of the following refers to the costs of production that do not change with the number of units​ produced? A. Fixed cost B. Variable cost C. Contribution per unit D. Markup E. Total cost

fixed cost

Which of the following is a business strategy in which a product in its most basic version is provided free of charge but the company charges money for upgraded versions of the product with more​ features, greater​ functionality, or greater​ capacity? A. Online auctions B. Dynamic pricing C. Price lining D. Internet price discrimination strategy E. Freemium strategy

freemium strategy

Value​ co-creation most likely occurs in what phase of the new production development​ process? A. Market strategy development B. Business analysis C. Idea generation D. Product concept development and screening E. Test marketing

idea generation

Which of the following adopters are typically lower in income level and education than other adopters and are bound by​ tradition? A. Innovators B. Early adopters C. Laggards D. Late majority E. Early majority

laggards

​A(n) ________, with fewer product​ variations, can improve the​ firm's image if consumers perceive it as a specialist with a​ clear, specific position in the market. A. ​upward-line stretch B. full line C. ​filling-out strategy D. ​downward-line stretch E. ​limited-line strategy

limited line strategy

Which of the following refers to the price that the manufacturer sets as the appropriate price for the end consumer to​ pay? A. Markup B. Wholesaler margin C. Gross margin D. Retailer margin E. List price or​ manufacturer's suggested retail price​ (MSRP)

list price or manufacturer's suggested retail price

Which of the following is an element of the vulnerability phase in​ retailing? A. Moderate prices B. ​Low-end facilities C. Low margins D. Increased quality merchandise E. Luxurious facilities

luxurious facilities

​________ are independent salespeople who carry several lines of noncompeting products. They have contractual arrangements with manufacturers that outline their​ territories, selling​ prices, and other specific aspects of the relationship but provide​ little, if​ any, supervision. A. ​Manufacturers' showrooms B. Merchandise brokers C. Selling agents D. Commission merchants E. ​Manufacturers' agents or​ manufacturers' reps

manufacturers' agents or reps

Which of the following refers to an individual who is responsible for developing and implementing the marketing plans for products sold to a particular customer​ group? A. Market manager B. Product category manager C. Venture team D. Brand manager E. Product management

market manager

Which of the following refers to the percentage of a​ market, defined in terms of either sales units or​ revenue, accounted for by a specific​ firm, product​ lines, or​ brands? A. Market share B. Retailer margin C. Gross margin D. Price E. Markup

market share

Which of the following pricing strategies is usually the rule in an oligopolistic industry that a few firms​ dominate, which might be in the best interest of all players because it minimizes price​ competition? A. Price leadership B. Penetration pricing C. Yield management pricing D. ​Demand-based pricing E. Value pricing or everyday low pricing​ (EDLP)

price leadership

Marketers often apply their understanding of the psychological aspects of pricing in a practice they call​ ________, whereby items in a product line sell at different​ prices, or price points. A. internal reference price B. predatory pricing C. ​bait-and-switch D. price fixing E. price lining

price lining

Costco's store brand Kirkland Signature is an example of which branding​ strategy? A. ​Private-label brand B. ​Co-branding C. National or manufacturer brand D. Family brand E. Generic brand

private-label brand

Which of the following distribution channels does Samsung use when it sells TVs through large retailers such as Best​ Buy? A. Dual or multiple distribution system B. ​Producer-consumer channel C. ​Producer-retailer-consumer channel D. Hybrid marketing systems E. ​Producer-wholesaler-retailer-consumer channel

producer-retailer-consumer channel

Which of the following refers to individuals who are responsible for developing and implementing the marketing plan for all the brands and products within a​ category? A. Market manager B. Product management C. Brand manager D. Venture team E. Product category manager

product category manager

Which of the following refers to a concept that explains how products go through four distinct stages from birth to​ death: introduction,​ growth, maturity, and​ decline? A. Product mix B. Product management C. Product line D. Product quality E. Product life cycle

product life cycle

Which of the following refers to a​ firm's total product offering to satisfy a group of target​ customers? A. Cannibalization B. Product line C. Product management D. Product mix E. ​Product-line length

product line

Product objectives often focus on​ ________, which is the overall ability of the product to satisfy​ customers' expectations. A. total quality management​ (TQM) B. Six Sigma C. ISO 9000 D. internal customers E. product quality

product quality

Which of the following refers to claims made in advertising of product superiority that cannot be proven true or​ untrue? A. Crowdsourcing B. Greenwashing C. Corrective advertising D. Puffery E. ​Do-it-yourself (DIY) ads

puffery

Which of the following trade promotions is being used if a retail salesperson at a cosmetics counter gets​ $5 every time she sells a bottle of Glow perfume by​ JLo? A. Trade shows B. Promotional products C. Push money D. Merchandising allowances E. Incentive programs

push money

________ occurs when a company tries to move its products through the channel by convincing channel members to offer them. A. Push strategy B. Pull strategy C. ​Bottom-up budgeting techniques D. AIDA model E. Hierarchy of effects

push strategy

Which of the following sales promotions allows the customer to recover part of the​ product's cost from the​ manufacturer? A. Rebates B. Frequency programs C. Trade promotions D. Premiums E. Product sampling

rebates

Which of the following pricing tactics is used when price reductions are offered only during a certain time of the​ year? A. Seasonal discounts B. Cash discounts C. Quantity discounts D. Price bundling E. Trade discounts

seasonal discounts

Which of the following refers to the actual interaction between the customer and the service​ provider? A. Capacity management B. Service encounter C. Servicescape D. Variability E. Disintermediation

service encounter

Which of the following refers to a standard of no more than 3.4 defects per millionlong dash—getting it right​ 99.9997% of the​ time? A. Six Sigma B. Internal customers C. Total quality management​ (TQM) D. ISO 9000 E. Product quality

six sigma

Utilizing the models of marketing​ communication, which of the following tactics is used in the​ many-to-many model? A. Database marketing B. Sales promotion C. Social media D. Personal selling E. Public relations

social media

Which of the following product category best classifies​ milk, bread, and gasoline as basic or necessary items that are available almost everywhere and most consumers​ don't perceive big differences among​ brands? A. Specialty product B. Staple product C. Unsought product D. Convenience product E. Shopping product

staple product

Which of the following refers to the management of flows among firms to maximize total​ profitability? A. Reverse logistics B. Supply chain C. Physical distribution D. Supply chain management E. Logistics

supply chain management

Which of the following is a pricing strategy in which the price of a product is raised as demand for that product goes up and lowered as demand goes​ down? A. ​Bait-and-switch B. ​Loss-leader pricing C. Predatory pricing D. Price fixing E. Surge pricing

surge pricing

Which of the following pricing objectives focuses on altering pricing policies to reflect the increased emphasis on the​ product's quality​ image? A. Sales or market share B. Competitive effect C. Profit D. Customer satisfaction E. The image enhancement

the image enhancement

Which of the following refers to an allocation of the promotion budget based on​ management's determination of the total amount to be devoted to marketing​ communication? A. ​Objective-task method B. ​Competitive-parity method C. ​Bottom-up budgeting techniques D. ​Percentage-of-sales method E. ​Top-down budgeting technique

top-down budgeting technique

Which of the following refers to the legal term for a brand​ name, brand​ mark, or trade​ character? A. Brand meaning B. Brand equity C. Brand D. Brand storytelling E. Trademark

trademark

​________ occurs when retailers and other channel members move the goods from the production point to other locations where they can hold them until consumers want them. A. Creating assortments B. Facilitating functions C. Breaking bulk D. ​Risk-taking functions E. Transportation and storage

transportation and storage

Which of the following functions of packaging is utilized to supply specific information about the type of​ item, the​ manufacturer, and the specific​ product? A. Package shape B. Directions for use C. Photo of product in use D. Universal Product Code​ (UPC) E. Warnings

universal product code

If a​ firm's current product line includes​ middle- and​ lower-end items,​ a(n) ________ adds new itemslong dash—higher priced entrants that claim better quality or offer more bells and whistles. A. full line B. ​upward-line stretch C. ​downward-line stretch D. ​filling-out strategy E. ​limited-line strategy

upward line stretch

Which of the following refers to online consumer​ comments, opinions, advice and​ discussions, reviews,​ photos, images,​ videos, podcasts,​ webcasts, and​ product-related stories available to other​ consumers? A. Crowdsourcing B. Advertising campaign C. Greenwashing D. ​User-generated content​ (UGC) E. ​Do-it-yourself (DIY) ads

user-generated content (UGC)

Which of the following refers to an online marketing strategy that uses enhancements including​ colors, graphics, layout and​ design, interactive​ videos, contests,​ games, and giveaways to engage experiential shoppers​ online? A. ​Business-to-consumer (B2C)​ e-commerce B. Virtual experiential marketing​ (VEM) C. Party plan system D. Network marketing E. Pyramid scheme

virtual experiential marketing (VEM)

Which of the following pricing strategies is heavily used by hospitality companies like​ airlines, hotels, and cruise lines because these businesses charge different prices to different customers in order to manage capacity while they maximize​ revenues? A. Yield management pricing B. Trial pricing C. ​Cost-plus pricing D. Price leadership E. ​Demand-based pricing

yield management pricing