MKT460-Exam Two

network marketing

companies that sell products door-to-door or at home sales parties are engaging in.......

response to service failure

Dean recently had a BRZ broadband connection installed. however, the connection was poor and he didn't get the quality he required. he contacted BZR about the problem, but the company did not solve his problem. Dean switched to Blue Broadband. which of the following was the cause of Deans switching behavior

rack jobbers

the owner of supermarket chain Reynolds wants to offer nonfood items such as greeting cards and magazines. however, reynolds does not want to take care of setting up displays and maintaining inventory records.which of the following types of wholesalers can help Reynolds meet customer demand while minimizing costs?

idea generation

the stage in the new product process that occurs first is the...stage

tangible goods with accompanying services

to which of the following categories of services does a cell phone belong

psychotherapy

to which of the following is and example of a pure service

the product being sold is an impulse item

using the push strategy is most appropriate when....

gap between perceived service and altered service

when Aaron went to his doctor for his annual checkup, he was asked to undergo a number of tests. although the doctor assured Aaron that the tests were routine, Aaron thinks that the doctor is hiding a grave problem from. what kind of gap is apparent here?

market-skimming pricing

when Apple introduces its iPhone, it was priced at $599. this allowed Apple to earn the maximum amount of revenue from the various segments of the market. two months after the introduction, the price had come down to $399. what kind of pricing did Apple adopt?

multichannel

when Goodyear began selling its popular tire brands through Sears, Walmart, and Discount Tire, independent dealers that sold the same tires at higher prices were angry. this is an example of a(n).......conflict

basic product

when a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. this is an example of what level in the consumer value hierarchy?

seasonal discounts

when hotels, motels and airlines offer discounts in slow selling periods, they are said to be offering.....

third-degree price discrimination

when museums charge a lower admission fee to students and senior citizens, this form of pricing is known as.....

loss-leader

when supermarkets and department stores drop the prices on well-known brands to stimulate store traffic, they are said to be following.....pricing

product recycling

which of the following activities is a reverse-flow channel of marketing?

durable goods

which of the following are tangible goods that normally survive many uses

modification of channel design

which of the following is NOT a standard that producers would use to evaluate intermediaries' performance?

brokers bring buyers and sellers together and assist in negotiating

which of the following is TRUE of brokers?

competitors that match low prices might have longer staying power because of deep cash reserves

which of the following is a possible trap of a price-cutting strategy?

a service center manager has asked his subordinates to provide fast service, but has not specified a time for the service to be performed

which of the following is an example of a gap between management perception and the service quality specifications?

Amanda chose to shop at Allison's Fashions because the store's website offered on-the-spot alterations. however, when she did buy a dress, she had to wait a week to get it altered

which of the following is an example of a gap between service delivery and external communication

CLO's offers a number of merchandise-return privileges, customer needs information and assistance with shopping

which of the following is an example of a limited-service retailer?

a manufacturer takes online orders from customers and ships the products to them

which of the following is an example of a zero-level channel?

IFB Industries, a company that sells products using various channels such as Internet, retailers, direct outlets, and franchisees

which of the following is an example of brick-and-click company?

Praxis International sells products to consumers directly through the Internet

which of the following is an example of retailing?

printing tickets form a home computer

which of the following is an example of self-service technologies?

broker

which of the following is considered a wholesaler

anticipated cost infation

which of the following is most likely to be a valid reason for initiating a price increase?

a system of partnerships and alliances that a firm creates to source, augment, and deliver its offerings

which of the following is the most accurate description of a value network?

the shopping experience

which of the following is the strongest differentiator for brick-and-mortar stores who want to emphasize their superiority over online retailers?

the actual future price

which of the following would NOT be a consumers reference price?

because handling costs can make products less profitable

why would a retailer measure direct product profitability (DPP)?

captive-product

Gillette uses...pricing when it offers razor handles at a low cost, but places a high markup on the replacement razor blades that fit in the handles

width

Happy Homes Products produce detergents, toothpaste, bar soap, disposable diapers, and paper products this company has a product.....of five lines

fixed

JJ's hair salon pays overhead each month, including bills for rent, heat, interest and salaries. these payments are examples of.....costs

perishability

Jake had an appointment at the doctors office, but couldn't make it on time due to traffic. by the time he arrived, the doctor had already begun with the next patient. this illustrates the...of services

value-augmenting service

Johnson Controls reached beyond selling climate control equipment and components by selling the service of managing facilities in a way that optimizes energy use in heating and cooling. this is an example of providing....

radical innovations

Jordan's firm enters new markets by tweaking products for new customers, uses variations on a core product to stay one step ahead of the market, and creates interim solutions for industry-wide products. in other words, it pursues...

early majority

Joseph, a student at Colombia University, found that many of his classmates have purchased an iPad tablet from Apple. several months after the products launch, realizing that the iPad was widely considered to be useful and that many students in the US that rated it highly, Joseph also decided to purchase an iPad. which of the following is the adopter group to which Joseph belongs?

ordering ease

Smith & Adams Poultry set up a computer system so that its customers (restaurants and hotels) can directly inform its central supply system about purchase volumes and dates, as well as automatically receive confirmation of orders and shipments. this is an example of a company differentiating its services in terms of...

pull strategy

Spike Inc. is a sales manufacturer that recently launched its new line of customizable running shoes. the shoes come with a digital component that allows them to adapt to the runners biomechanics. to promote this new product, Spike launches an advertising campaign and entices a famous athlete to endorse the product. this is an example of a.....

functional quality

Susanna wanted to check out a new salon in her locality, so she decided to go for a hair styling session. she was very happy with the way her stylist connected and related to her concerns. she is judging the services based on its....

it is trying to cultivate nonpeak demand

The Caesar Park Hotel generally caters to business customers during the week, so weekends are relatively quiet. the hotel has decided to promote mini-vacation weekends for non-business customers as well. What is the Caesar Park Hotel trying to do?

private-label

a brand developed a retailer and/or wholesaler that is available only in selected retail outlets is called a......brand

behavioral

a brand that is action-oriented and causes consumers to engage in physical actions appeals to the....dimension of brand experience

omnichannel marketing

a computer manufacturing company allows customers to shop in their preferred way. for example, they can gather information online or in the store; they can place orders online or by phone or purchase in store. they can have orders delivered to their home or arrange to pick them up from a convenient retail location. which of the following terms best represents this practice?

survival

a firm that is plagued with overcapacity, intense competition, or changing consumer desire would do better if it pursues....as its major objective

inconvenience

although Brenda previously used the USPS because it offered better prices on package shipping, she new uses only FedEx, because it gives her the facility of shipping from any FedEx location 24 hours a day. which of the following factors led to Brenda's customer switching behavior?

delicatessen

and example of a restaurant with a narrow and deep assortment is a........

obtaining financing

identify the channel function that constitutes both backward and forward flow

conformance quality

if the Ford GT is designed to accelerate the 50 mph within 10 seconds, and every Ford GT coming off the assembly line does this, the model is said to have a high...

generics

in addition to its store bradns and nationally well-know brands of detergent, Reynolds also carries much cheaper versions of detergents that are not advertised and have littleknown names. they are often manufactured from lower-quantity ingredients and save on packaging. these are known as.......

augment the product

in markets that are characterized by products that are highly homogeneous, how should a firm react to a competitors reduction in price?

Sara's preferred hair stylist is come miles away, but Sara goes to him because his styles suit her looks

in which of the following does a customer respond to the technical quality of service?

it lowers the producer's costs and prices

producers often shift some functions to intermediaries. which of the following is the most significant benefit of doing this?

mixed bundling

purchasers of theatre tickets receive 20% discount if the purchase and pay for the full season at one time. this is an example of what type of product-mix pricing

design

realizing that although household products is a huge category-taking up an entire supermarket aisle or more-it is an incredibly boring one, the founders of method products designed a sleek, uncluttered dish soap container that also carried functional advantages, such as ease of dispensing soap and cleaning. Method is competing in the crowded market for household products on the basis of superior...

generics

..........are unbranded, plainly packaged, less expensive versions of common products such as spaghetti, paper towels, and canned peachers

bulk breaking

........refers to buying large carload lots and dividing them into smaller units before shipping them our to consumers

functional discounts

......are offered by a manufacturer to trade-channel members if they will perform certain functions, such as selling, storing, and record keeping

retailing

......includes all the activities in selling goods or services directly to final consumers for personal, nonbusiness use

secondary service feature

Belling Hotels provides a complimentary breakfast buffet to all guests. this is an example of a....

off-price

a factory outlet is an example of a(n)..........retailer

promotional allowances

.....reward dealers for participating in advertising and sales support programs

vertical

Alcart Solutions is a large distributor of Aldor phones in Canada. the company distributes products to various retailers in New Brunswick province. Recently, Aldor received complaints from its retailers that their orders are not delivered on time. this is an example of.......conflict

evaluation

Armordo is a famous vacuum cleaner brand in Africa. Clara has heard of Armordo and she knows that the product is a success. she has started considering whether or not to buy the vacuum cleaner. what stage of the consumer-adoption process is Clara in?

service backup

Atburex is a furniture manufacturing company in the US. the company provides a 60-day credit period and also offers on-site delivery and instillation. these special benefits refers to which of the following service outputs?

rapid prototype

Brown & Smith, Inc. engages in the design, development, making, and of designer jewelry in North America. Before approving a new design, the company draws on its computer and then produces models to show potential consumers and get their reactions. this allows the company to analyze the possible customer reaction. identify the concept testing method used here

target costing

ConAgra Foods decides is prices had risen too high, so it determined to set a lower price for itzs products. to make the new price level profitable, ConAgra cut $250M in costs. what application of cost estimation did this represent?

specialty

E&OE produces and markets its own brand of skincare products using herbal remedies and natural ingredients through stand alone stores as well as an online portal. E&OE is a(n)...........retailer

conditions of sales

Electrobar, a European manufacturer of industrial kitchenware, sells to industrial canteens, restaurants, hotels and so fourth. the company provides a one-year warranty on all products and also allows customers to pay in installments-they pay 50% on delivery and the rest as equal installments.this refers to which element in the trade relations mix?

parallel entry

Poga International, a multinational beverage corporation identifies that one of its competitors is launching an apple flavored drink. the company decided to launch an apple flavor brand alone with its competitor. what timing strategy is used here?

corporate

Rotter Gardner Inc. is a large-scale paint manufacturer known for its wide range of decorative paint products and industrial coatings. in addition to making paints, the company also owns and operates in retail stores that sell its products. this is an example of a(n)......vertical marketing system

spatial convenience

Toyota has an advantage over Lexus due to the fact that there are more Toyota dealers, which helps customers save on transportation and search costs in buying an repairing an automobile. which of the following service outputs relates to this competitive advantage?

private label

Walmart developed the Ol'Roy brand of dog food to sell only in stores. Ol'Roy is an example of a.....

co-optation

Winstar is a large-scale manufacturer with more than a hundred partners across the globe. when making decision concerning distrution and channel optimization, the company invtes members from its channel partners to be a part of its advisory committee. this helps the company maintain harmony with its partners. which of the following conflict resolution techniques is Winstar using?

infomediary

XM Consulting collects information on various industrial products. when faced with buying decisions, businesses can visit XM's website to purchase detailed information in the various options available for them. XM Consulting can be called a(n).....

retailer cooperative

a group of small sellers takes the initiative and organizes a new business entity to carry on wholesaling and possibly some production. this entity is called a(n).....

compensation deal

a japanese firm is ready to sell its recent technological innovation to the US government. but ithas asked for 80% in cash and the rest in mica. the japanese firm is looking to enter in to a(n)......government

full-service

a large staff, along with a higher proportion of specialty goods and slower-moving items and many services, are usually features of ......retailing

down-market stretch

a manufacturer of hiking boots looks at data that indicates that their subsegment of the market called "serious hiker" is declining and its predicted to decline in to the future. the firm decides enter the "low-price" segment with the new items. this is an example of the firms....to reach the new market

push strategy

a manufacturer uses the company's sales force and trade promotions to carry, promote, and sell products to end users. which of the following strategies is the manufacturer using?

production and distribution costs fall with accumulated production experience

a market-penetration pricing strategy is most suitable when....

using a few existing intermediaries

a new firm typically starts as a local operation selling in a fairly circumscribed market by.....

high-markup, low-volume

a store selling expensive artwork and luxury goods typically falls into the ........group with respect to margins and volume

product concept

a(n)....is an elaborated version of a product idea expressed in consumer terms

conducting beta testing with customers

after creating a product prototype, a company tests it within the firm to see how it performs in different applications. the company refines the prototype to correct the mistakes found in the in-house testing. what should be the next step?

place

bank customers try to reduce uncertainty by drawing inferences from the..., such as the design of the building's exterior and interior, the layout of the desks. and the length of waiting lines

slotting fee

because shelf space is scarce, many supermarkets now charge a.......for accepting a new brand, to cover the cost of listening and stocking it

high-volume, low-markup

discount stores typically fall into the.......group with respect to margins and volume

zero-level channels

door-to-door sales, home parties, mail order, telemarketing, TV selling, Internet selling, and manufacturer-owned stores are examples of.....

running the companies own parts-and-services department

for a new manufacturer managing product support for its equipment, what is usually the first strategy for postsale service?

they use the price as an indicator of quality

many consumers are willing to pay $100 for a perfume that contains $10 worth of scents because the perfume is from a well-known brand. what does this image pricing suggest about these consumers?

loss leaders

most retailers will put low prices on some items in order to increase traffic to the store. these low-prices products are known as.....

faster

not all self-service technologies improve service quality, but they can make service transactions more accurate, convenient &......

self-service technology

one way marketers are addressing consumers desires for convenience in services is providing....

direct product profitability (DPP)

stores are using......to measures a products handling costs from the time it reaches the warehouse until a customer buys it in the retail store

yield pricing

the airlines and hospitality industries use....., by which they offer discounted but limited early purchases, higher-priced late purchases, and the lowest rates on unsold inventory just before it expires

postsale serice

the customer service reps at G.K's heating and cooling must know as much about the products as possible, so they can help customers solve their difficulties without sounding hesitant or unsure of themselves. this is an example of high quality strategy for....

customer-value hierarchy

the five product levels add more customer value, and together they constitute a(n)...