MKTG 2500 quizzes
Which of the following is most likely true of a global firm?
A global firm manufactures and markets goods wherever it can do the best job.
Which of the following is true of advertising in the new marketing communications model?
Advertisers are increasingly shifting toward digital media.
________ is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.
Advertising
Which of the following is most likely a difference between advertising and sales promotion?
Advertising can be used to build up a long-term image for a product while sales promotion effects can be short lived.
Which of the following is most likely true about the digital age with regards to marketing?
Digital networks allow marketers many ways to build customer relationships.
Which of the following statements about break-even analysis is most likely true? A) It determines how customer-perceived value changes with value-added pricing. B) It is a tool used to calculate fixed costs. C) It is used to determine the maximum price that can be set on a product. D) It is a tool marketers use to examine the relationship between supply and demand. E) It fails to consider customer value and the relationship between price and demand.
E.It fails to consider customer value and the relationship between price and demand.
Introducing intermediaries into a distribution chain increases the number of direct channel transactions between a manufacturer and its customers. true or false
False
Sales promotions constitute the interpersonal arm of the promotional mix. t/f
False
The goal of any logistics system should be to maximize sales, not profits. True or false
False
Which of the following is a characteristic of an inside sales force?
It conducts business from an office via telephone
Which of the following is true of a conventional distribution channel?
It has each channel member acting as a separate business unit trying to maximize its own profits.
Which of the following is true of a vertical marketing system?
It has one channel member owning all the other channel members or has contracts with all other channel members.
Which of the following is true of an intensive distribution strategy?
It strives to make products available where and when consumers want them.
________ creates a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.
Omni-channel retailing
Marketing via the internet using company websites, online ads and promotions, e-mail, online video, and blogs
Online marketing
________ refers to the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use.
Retailing
Which of the following statements is true of retailing?
Services like hotels, banks, airlines, restaurants, colleges, and hospitals can be retailed.
How has the Internet most likely affected direct and digital marketing?
The expenditures on direct and digital marketing have increased.
Which of the following is true of consumers in the new marketing communications model?
They are better equipped to find product and brand information on their own.
Which of the following is true of consumers in the new marketing communications model?
They are more reliant on mass media marketing methods for product information.
Which of the following is true of marketing strategies that are being developed in the new marketing communications model?
They are more targeted, social, and engaging.
Which of the following statements is most likely true about direct and digital marketing?
They build customer engagement and constitute a complete model for doing business.
Which of the following is most likely true about a sales force in the field?
They build relationships with customers through face-to-face collaboration.
Which aspect of niche online social networks makes the medium most appealing to marketers?
They cater to the needs of small communities of like-minded people.
Which of the following statements is true of consumer promotions?
They include a wide range of tools like samples, coupons, and refunds.
Which of the following is most likely true about direct and digital marketing?
They provide buyers with anytime, anywhere access to products.
Which of the following statements is true of salespeople?
They represent a company to its customers by communicating and selling.
Casey's is a large supermarket that practices everyday low pricing. Therefore, consumers should expect few discounts or sales if shopping at Casey's regularly. true or false
True
A network composed of the company, suppliers distributors, and, ultimately, customers who partner with each other to improve the performance of the entire system in delivering customer value.
Value delivery network
Which of the following is most likely true about a global organization?
Worldwide policies are planned by top corporate management.
Millie Foods, producers of baby food, offers a monetary sum to retailers who agree to feature its new products on their shelves for a considerable time period. In this case, the promotion tool used by the company is referred to as a(n) ________.
allowance
He meets Karen Sharp, a buyer for a large, specialty pet retailer, and speaks to her at length about the product categories and brands of pet food the retailer currently carries as well as future needs. At which step of the selling process is Harry Potts in the above scenario?
approach
Online visitors can't buy anything at ESPN.com. Instead, the site creates a virtual experience for sports enthusiasts and fans that can be customized to meet their needs. This is most likely an example of a(n) ________.
branded community web site
As with other types of marketers, a primary goal in wholesaling is to ________.
build value-adding customer relationships
Dynamic pricing is particularly suitable for Internet-based companies like Amazon who want to be responsive to shoppers' desires and marketplace changes. true or false
true
In today's digital, mobile, and social media environments, many buyers are more receptive to — or even prefer — phone and online contact versus the high level of face-to-face contact once required. t/f
true
Most international companies strive to adapt global brands to local needs. t/f
true
Some companies deemphasize price and use other marketing mix tools to create non-price positions in the marketplace. true or false
true
The growth of the Internet caused many traditional companies to ________ in response to customer demands and a changing marketplace.
use omni-channel retailing
A ________ pricing strategy for an offering begins with an assessment of customer needs and perceptions. Then a target price is set based on customer perceptions of worth.
value-based
all the activities involved in selling goods and services to those buying for resale or business use
wholesaling
Which of the following sets the upper limit for a product's pricing? A) profits B) product costs C) consumer perceptions of value D) elements of the product mix E) competition
c. consumer perceptions of value
Establishing prices for razor blades that must be used with a razor blade system is known as ________ pricing.
captive-product
When adapting advertising messages, media may also need to be adapted internationally because media availability and regulations vary from country to country. This illustrates ________.
communication adaptation
Rather than just creating and placing "TV ads" or "print ads" or "Snapchat branded story ads," many marketers now view themselves more broadly as ________ managers.
content marketing
More than 80 percent of McDonald's restaurants worldwide are owned and operated by franchisees. This illustrates a(n) ________ marketing system.
contractual vertical
________ pricing involves setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for the company's efforts and risks.
cost-based
Lovely Skin is establishing a pricing strategy for a new moisturizer. The total cost to produce each unit is $3.50. The company has decided to add a $1.50 markup, so the unit price to distributors will be $5. Lovely Skin is using a ________ approach to price the new moisturizer.
cost-plus
For most companies, the first step in conducting online marketing is to ________.
create a Web site
People who buy magazines that they like or who opt in to e-mail, social media, or mobile marketing programs rarely complain about the ads because they involve products and services of interest. This is counter to the claim that the marketing system creates ________.
cultural pollution
Which of the following is a function of an integrated marketing communications system?
delivering a consistent message on the product to each brand contact
Jones & Company, a major retail chain across the United States, offers a wide range of consumer goods such as clothing, furniture, home appliances, cosmetics, jewelry, and food. Jones & Company is best described as a ________.
department store
________ marketing involve engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships.
direct and digital
Eric targets a selective market of individuals who have recently donated to international charities by sending letters with charity information and donation instructions. Eric uses ________ in this scenario.
direct-mail marketing
Changes in technology and the explosive growth of direct and online marketing are having a profound impact on the nature and design of marketing channels.
disintermediation
Which of the following account for the largest portion of firms' online advertising spending?
display and search-related advertisements
The simplest way to enter a foreign market is through ________.
exporting
In consumer product companies such as P&G or Nike, the sales force works directly with customers. t/f
false
Similar consumer needs around the world suggest that a strategy of adapted global marketing is appropriate for most international firms. t/f
false
Unlike the other marketing mix elements, price plays a minor role in creating customer value and building customer relationships. true or false
false
While the societal marketing concept considers the future welfare of consumers and the sustainable marketing concept considers future company needs, the strategic planning concept considers both. t/f
false
Many organizations no longer have a clearly defined home market. Nor do they have home-office staffs.Instead, multicultural managers operate out of facilities located all around the world, bringing diverse cultural perspectives to their brands and operations. They are truly ________.
global organizations
Charging higher prices on an everyday basis, coupled with frequent sales and other price promotions to increase store traffic, create a low-price image, or attract customers who will buy other goods at full prices is referred to as ________ pricing.
high-low
A channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity is referred to as a(n) ________.
horizontal marketing system
A country's ________ shapes its product and service needs, income levels, and employment levels.
industrial structure
If demand hardly changes with a small change in price, the demand is ________.
inelastic
Which of the following is generally regarded as the toughest issue of public policy and ethics confronting the direct marketing industry?
invasion of consumer privacy
Companies often form ________ ventures to merge their complementary strengths in developing a global marketing opportunity.
joint ownership
Entering a foreign market through developing an agreement with a licensee in the foreign market. Simplest way.
licensing
Providing a host-country partner the right to use a company's manufacturing process, trademark, patent, trade secret, or other item of value is referred to as ________.
licensing
When establishing prices, it's important for a manager to understand that "good value" is not the same as ________.
low price
A common criticism of the marketing system is that intermediaries ________.
mark up prices beyond the value of their services
The first Target store opened in 1962. Its initial strategy was to set prices low to attract a large number of buyers quickly and win a large market share. This is referred to as ________.
market-penetration pricing
The first generation Apple iPod was introduced in 2001 and sold for $500. The following year a mini version was introduced for $250. Apple initially used a ________ strategy to price their digital music innovation.
market-skimming
Which of the following best describes the term "Madison and Vine"?
merging advertising with entertainment
Victoria's Closet, a manufacturer of bohemian-style clothing and accessories, sells its products through its online Web site, a catalogue, and specialty boutiques that target women.Which kind of channel arrangement does Victoria's Closet employ to distribute its products?
multichannel distribution system
most logical budget setting method, where the company sets its promotion budget based on what it wants to accomplish with promotion
objective and task method
In managing their international marketing activities, most companies first ________.
organize an export department
Wisconsin Cheddar has introduced an aged jalapeno cheddar. Displays are set up at various retail cheese stores in the state and patrons are offered free samples as well as $2 off coupons. Which promotion tool is Wisconsin Cheddar most likely using?
point-of-purchase promotions`
Cracker Jack, an American brand snack of caramel-coated popcorn and peanuts, has been in existence since 1896. The brand became popularized due to its free prize inside every box. Which of the following promotion tools does this exemplify?
premium
So the company alters the ingredients in its burgers to meet the local preferences. In this scenario, Veggie Delight is using a(n) ________ strategy to market its product.
product adaptation
Salon Du Jour offers special combination packages at a reduced price. Separately, a haircut is $30 and a conditioning treatment is $35. But the combo price is $50. This is referred to as ________ pricing.
product bundle
Karen Rogers is a salesperson for Solar Panels Inc. She attends builder trade shows to identify potential customers in an effort to build long-term profitable relationships. Karen Rogers is engaging in which step of the selling process?
prospecting
How have social media tools most likely affected personal selling?
reducing the use of person-to-person selling efforts
In a marketing communications mix, ________ refers to any short-term incentive that encourages the purchase or sale of a product or service.
sales promotion
Innovative marketing most likely involves ________.
seeking real product and marketing improvements
Food Galore is a regional chain of supermarkets in the Midwest. The primary role of the staff is to restock shelves and operate cash registers. Customers locate, compare, and select their groceries and other sundry items.Food Galore is most likely a ________.
self-service retailer
A class-action lawsuit was brought against a national burger chain, charging that its food contributed to the nationwide obesity epidemic.The suit was eventually dismissed, but critics continue to point out the health dangers of many fast food menu items. From the description, it can be concluded that these critics are concerned that the fast food industry is ________.
selling harmful products
Grace and her fiancé visit several furniture stores in and around their hometown of Milwaukee. They use their smartphones to capture information about manufacturers and pricing, and ultimately decide to purchase their favorite items online.
showrooming
The American Tie Company, a necktie retailer, offers a deep assortment of men's neckties. The American Tie Company is best described as a(n) ________.
specialty store
Chips of Joy, a leading chocolate chip cookie manufacturer, has decided to use the same marketing strategy approaches and marketing mix worldwide for all of its brands.The only change that will be made is language translation on the various packaging. Chips of Joy is using a(n) ________ marketing strategy.
standardized global
Retailers must decide on three major product variables: product assortment, services mix, and ________.
store atmosphere
Managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers is known as ________.
supply chain management
Meets the present needs of consumers and businesses while enhancing the ability of future generations to meet their needs. Calls for socially and environmentally responsible actions that meet the immediate and future needs of customers and the company.
sustainable marketing concept
Last step of the selling process
the follow up
Which of the following is an impact of the Great Recession on retailing trends?
tighter consumer spending patterns
sales promotion tools used to persuade resellers to carry a brand, give it shelf space, promote it in advertising, and push it to consumers
trade promotions
Which of the following is an example of a combination of sales promotions and direct marketing?
a company e-mailing a customer about a discount on a product during a festival season
Which of the following would be considered an upstream partner in a company's supply chain?
a firm that provides technical expertise in the production of a product
Which of the following promotion mix approaches involves a producer promoting a product to different channel members who in turn promote the product to customers?
a push strategy
