MKTG Exam 2 (quizzes 7.1 - 12.2)
The "value created" of a product or service is determined from the perspective of the: a. customer b. stockholders c. competition d. employer
a. customer
When Mariah needs money, she goes to an ATM instead of driving to her bank. When Mariah utilizes this ATM that represents her home bank, what kind of interaction has taken place? a. Machine Summons b. Human customer, Machine service provider c. Traditional Interactions d. Automated Service Delivery
b. Human customer, Machine service provider
The brand resides in the consumer's: a. conversations b. memory c. peer group d. desired associations
b. memory
Which of the following is NOT part of a vertical marketing system? a. Wholesaler b. Producer c. Consumer d. Retailer
c. Consumer
Which of these is not a key category of digital promotion? a. Social media b. Affiliate c. Video c. Display
c. Video
Which social media platform has the widest customer base? a. LinkedIn b. Twitter c. YouTube d. Facebook
d. Facebook
A "brand" is confined to the physical name or logo associated with the firm. True False
False
All promotional tools are equally effective in all promotional situations. True False
False
Face-to-face communication is necessary for true "frontline" transactions. True False
False
It is common for consumers to go past the first page of their Google search. True False
False
Online display advertising is exactly the same as pay-per-click. True False
False
Only Gen X and millennial demographics are represented on social media. True False
False
Only certain demographics can be reached using Facebook. True False
False
Print ads are no longer effective in today's world. True False
False
Repetition of primary keywords is the only requirement for moving a firm up on Google's search engine rankings. True False
False
Small changes in price do not have a very large impact on bottom line profits. True False
False
Standard webpage views are optimal for mobile access. True False
False
Technology has had little impact on organizational frontlines in most industries. True False
False
The immediate goal of all advertising is to make exchange happen. True False
False
The message put in place by the Sender is always identical to the message received by the Receiver. True False
False
The most successful salespeople focus on the beginning aspects of the SPIN method (e.g. Situational and Problem questions). True False
False
Transactional selling focuses on the customer relationship. True False
False
When creating a brand map, a word cloud is always more useful than a table. True False
False
You do not need to understand margin and markup if you are using value-based pricing. True False
False
An effective relationship in supply chain can be represented by vertical supply chains. True False
True
It is easier to determine the effectiveness of sales promotions than advertisements. True False
True
Mark-up can be greater than 100%. True False
True
Public Relations are generally believed more so than advertisements. True False
True
SPIN selling is about asking questions of potential customers. True False
True
Seeing a brand can cause consumers to automatically think of the attributes of the firm. True False
True
Some people innately have more of a customer orientation than others. True False
True
The Cadbury commercial in the video lecture is an example of how advertisements have the ability to improve a company's reputation. True False
True
The Communications Triangle encompasses more than just promotional interactions. True False
True
The companies who utilize mobile marketing to its fullest potential are using many platforms in addition to mobile. True False
True
Value-based pricing will always be more profitable than cost-based pricing. True False
True
What are inside sales? a. a type of sales in which interactions are initiated by the seller b. a type of sales in which companies within the same industry sell to each other c. a type of sales in which inside departments sell to each other d. a type of sales in which interactions are initiated by the buyer
a type of sales in which interactions are initiated by the buyer
What is the definition of Advertising? a. A form of external promotion with customers, paid for by the seller b. A form of internal promotion with customers, paid for by the seller c. A form of external promotion with sellers, paid for by the consumer d. A form of internal promotion with employees, paid for by the seller
a. A form of external promotion with customers, paid for by the seller
What is personal selling designed to influence? a. A purchase decision b. A communication incentive c. A competitor response d. A market's elasticity
a. A purchase decision
Why do firms use SEO? a. All companies want to have the #1 ranking on Google b. All companies want to reduce their web traffic c. SEO is required for firms by ONET d. Only the most competitive companies use SEO
a. All companies want to have the #1 ranking on Google
What are the roles of the market intermediaries? a. All of the options b. Create benefits for manufacturers c. Providing storage d. Link the manufacturer with the customer
a. All of the options
A benefit of TV broadcast advertising is that: a. Both visual and audio mediums are available b. All broadcasting is seen as a credible news source c. Only visual mediums are available d. Only audio mediums are available
a. Both visual and audio mediums are available
Which of the following media categories commands the biggest slice of advertising dollars today? a. Broadcasting b. Out-of-home c. Print d. Direct mail
a. Broadcasting
Pizza Hut is an example of what type of vertical marketing system? a. Contractual b. Corporate c. Administered d. None
a. Contractual
Which of these is not a reason for the increasing popularity of digital marketing? a. Difficult to track effectiveness b. Cost-effective c. Easily targeted d. Interactive medium
a. Difficult to track effectiveness
A nonprofit that provides education for underserved communities is looking to run a new promotion. The company is deciding to either provide several statistics or a single, personal story from a student relying on funds. Out of the following, which part of the SUCCESS model would the personal story best encompass? a. Emotion b. Simplicity c. Credibility d. Unexpected
a. Emotion
Addi is driving from Stillwater to Dallas, and sees a McDonald's sign with golden arches (but no words). She automatically begins to think of her hunger. What kind of cue activated this thought? a. External cue b. Internal cue c. Detrimental cue d. Coercive cue
a. External cue
What is defined as the communications between the company and its customers? a. External promotion b. Interactive communication c. Active advertising d. Internal promotion
a. External promotion
What is the main difference between advertisements and sales promotions? a. Goal: of long-term or immediate payoff b. Methods: using frontline employees or management c. Goal: of increasing sales or decreasing necessary employees d. Methods: print or technology-based
a. Goal: of long-term or immediate payoff
What is determined by the default bid aspect of setting up a pay-per-click ad? a. How much the firm pays per click b. Keyword popularity c. Effectiveness of landing page d. The firm's budget per week
a. How much the firm pays per click
Unilever houses many brands, such as SlimFast nutrition drinks, Dove soap, and Skippy peanut butter, that all sell different products. What branding strategy is used here? a. Individual branding b. Institutional branding c. Sub-branding d. Umbrella branding
a. Individual branding
Companies on social media should remember to: a. Interact with followers b. Reply angrily to frustrated consumers c. Post and disappear d. Provide sales pitches only
a. Interact with followers
In the Communications Triangle model, which type of interaction is modeled by a double-headed arrow? a. Interactive promotion b. External communication c. Internal promotion d. Intrinsic value
a. Interactive promotion
What is contextual targeting most similar to? a. Keywords b. Pay-per-click c. Customer service d. Data mining
a. Keywords
Which social medial site is best suited for business to business marketing? a. LinkedIn b. YouTube c. Twitter d. Facebook
a. LinkedIn
Which of these situations would Twitter be best for? a. Live reporting b. Planning for the future c. Researching an article d. Video sharing
a. Live reporting
Why has readership of most print media declined in recent years? a. Many readers obtain information online b. Literacy has decreased c. All magazines have gone out of business d. Magazines move to print too quickly
a. Many readers obtain information online
Book value of assets + Brand equity = a. Market value of brand b. Market share in industry c. Consumer share of brand d. Price of brand
a. Market value of brand
Who owns the channel in Administered VMS? a. No one b. None of these c. The company d. Whoever contractually has power
a. No one
What is a main difference between online display advertising and pay-per-click? a. Online display is visual; Pay-per-click is text b. Online display is effective; Pay-per-click is inconclusive c. Online display is text; Pay-per-click is visual d. Online display is audio; Pay-per-click is tangible
a. Online display is visual; Pay-per-click is text
Which of these is not a listed method of mobile marketing? a. Online news articles b. Websites c. Apps d. Mobile display ads
a. Online news articles
Which of these is not a goal of promotion? a. Price cuts b. Awareness c. Desire d. Action
a. Price cuts
What is defined as responsiveness of demand to changes in price? a. Price elasticity b. Demand sensitivity c. Cost benefit d. Price variation
a. Price elasticity
If Oreo cookies come out with a new flavor of s'mores Oreo cookies, what are they using in order to turn brand equity into dollars? a. Promotional Advantage b. Licensing c. Word of mouth d. Product purchase
a. Promotional Advantage
The social media landscape changes __________ and requires ___________ from marketers. a. Quickly; flexibility b. Slowly; caution c. Slowly; spontaneity d. Quickly; indifference
a. Quickly; flexibility
Which of these is not a party that shares and exchanges value in a sharing economy? a. Recommender b. Owner c. Seeker d. Platform
a. Recommender
Which market intermediary works directly with the customer? a. Retailers b. Wholesalers c. Agents and Brokers d. Distributors
a. Retailers
The advertising examples given in the lecture videos best demonstrate which aspects of the SUCCESs model for cutting through clutter? a. Simple and Unexpected b. Credible and Promotional c. Simple and Concrete d. Emotion and Concrete
a. Simple and Unexpected
When will a firm's ad show up the most often? a. The firm creates different ads for different sizes b. The firm only has one size ad c. The firm connects with Bing rather than Google d. The firm creates a bold, colorful ad
a. The firm creates different ads for different sizes
What is Search Engine Optimization (SEO)? a. The strategy to try and improve the firm's ranking on Google b. A firm's basic online strategy c. The strategy to try and remove a firm from Google d. The strategy to ensure only certain markets can find your firm
a. The strategy to try and improve the firm's ranking on Google
Rachel goes to Walmart to buy groceries, and checks out with a cashier. When Rachel hands her cash to the Walmart employee, what kind of interaction has taken place? a. Traditional Interactions b. Human customer, Machine service provider c. Machine Summons d. Automated Service Delivery
a. Traditional Interactions
Which of these types of interactions is the only one where human interaction is absolutely necessary? a. Traditional Interactions b. Machine Service Provider c. Automated Service Delivery d. Machine Summons
a. Traditional Interactions
A form of personal selling that focuses on making an immediate sale with little or no concern for customer satisfaction or relationship development is defined as: a. Transactional selling b. Relationship selling c. Innovative selling d. Telemarketing
a. Transactional selling
Which of these is the best strategy for determining the best social media platform to use for marketing? a. Try new platforms and content to see what connects b. Switch target markets rather than change marketing strategy c. Stay consistent with platforms and content d. Abandon unsuccessful platforms immediately
a. Try new platforms and content to see what connects
When determining which social media platform to use for marketing, where should marketing professionals look? a. Where the target segment is best represented b. Where millennials are most active c. What is "cool" or trendy d. Where the largest number of users are active
a. Where the target segment is best represented
Why is simplicity important for breaking through promotional clutter? a. Your message is the clearest when it is simple b. Complex messages draw consumers in c. Messages seen as too simple are ignored by consumers d. Mail-in rebate
a. Your message is the clearest when it is simple
Which of these is not a type of brand association? a. brand memories b. brand attributes c. brand attitudes d. brand benefits
a. brand memories
The degree to which an individual possesses an enduring belief in the importance of customer satisfaction is defined as: a. customer orientation b. customer service c. business orientation d. good management
a. customer orientation
What happens in the Presentation stage of the personal selling process? a. determine prospect needs and present benefits; handle objections b. ask for financial commitment c. present customer service evaluations d. establish initial contact
a. determine prospect needs and present benefits; handle objections
What is the reason for so many levels existing between the producer and end-user? a. each level adds some kind of value to the end user b. convenience only c. each level makes some degree of money d. prices are lower across the board with a greater number of levels
a. each level adds some kind of value to the end user
Which of these is not a benefit of institutional branding? a. greater individualized identity for new products b. enhancement of positive spillover c. lower promotional costs d. marketing power in the marketplace
a. greater individualized identity for new products
When a supervisor doesn't emphasize the importance of customer satisfaction, employees with higher customer orientation: a. perform fewer customer service behaviors than they might have b. all supervisors surveyed emphasized the importance of customer satisfaction c. perform a varied amount of customer service behaviors d. perform more customer service behaviors than they might have
a. perform fewer customer service behaviors than they might have
What is the point of SPIN selling? a. position your product or service as the solution to the customer's problems b. sell your product to an entire industry c. educate the consumer on the features of your product d. push a sale through at all costs
a. position your product or service as the solution to the customer's problems
What is the difference between retailing and wholesaling? a. retailers sell to individuals for end use; wholesalers sell to companies for resale/company use b. wholesalers sell to individuals for end use; retailers sell to companies for resale/company use c. wholesalers are unable to mark up prices; retailers are free to do so d. retailers are unable to mark up prices; wholesalers are free to do so
a. retailers sell to individuals for end use; wholesalers sell to companies for resale/company use
The brand name must provide _________ meaning for the product. a. secondary b. tertiary c. primary d. institutional
a. secondary
Which of these is not a part of making a pay-per-click ad? a. set the highest bid available b. make the ad relevant to the keywords searched c. Make it obvious what you want the user to do upon seeing the ad d. match the ad message, Unique Value Proposition, and Call to Action
a. set the highest bid available
What is flat-rate pricing? a. single rate per time period b. different rate for each customer c. price set to fluctuate with treasury bonds d. setting a low rate to penetrate the market
a. single rate per time period
Mostly, business is made up of: a. smaller, more frequent transactions b. huge, multimillion dollar transactions c. customer service orientations d. competitions with other firms
a. smaller, more frequent transactions
Which of these is not a benefit of individual branding? a. strong connections to established brands for new brands to lean on b. development of additional brand assets c. protection against negative spillover effects d. strategic degrees of freedom
a. strong connections to established brands for new brands to lean on
Which of the following describes peak load or congestion pricing? a. variable rate depending on time of day or week b. charging the peak industry price at all times c. price assembled as you add options d. variable price based on region or county
a. variable rate depending on time of day or week
What is the breakeven point? a. where profits just cover costs b. the most desirable point for profits c. where variable costs only are covered d. where fixed costs only are covered
a. where profits just cover costs
Which market intermediary sells products for a commission? a. Distributors b. Agents and Brokers c. Retailers d. Wholesalers
b. Agents and Brokers
Which of these is the best example of display advertising? a. Email promotion b. Banner advertisement c. A billboard d. Broadcast
b. Banner advertisement
What are the two parts that make up a brand? a. Brand Product and Brand Name b. Brand Name and Brand Mark c. Brand Price and Brand Issue d. Brand Label and Brand Price
b. Brand Name and Brand Mark
Of the sharing economy models, which is the most similar to traditional business models? a. Business to Business b. Business to Person c. Business + Person d. Peer to Peer
b. Business to Person
Which of these is not one of the Three C's in communication? a. Concise b. Committed c. Clear d. Consistent
b. Committed
Which vertical marketing system is a formal agreement between the levels of distribution or production channel to coordinate the entire process? a. None of these b. Contractual c. Corporate d. Administered
b. Contractual
What is the goal of a sales promotion? a. Increase market share b. Convincing consumers to "act now" c. Clear inventory d. Increase likelihood of later purchase
b. Convincing consumers to "act now"
Which is NOT a role of a specific supply chain? a. Increase profits b. Decrease accuracy c. Reduce costs d. Improve proficiency
b. Decrease accuracy
Which step of the Process of Consumption best lines up with the Desire aspect of Goals of Promotion? a. Interest b. Evaluation of alternatives c. Need recognition d. Reaction
b. Evaluation of alternatives
What is the definition of Public Relations? a. The least effective commercial strategy b. Form of external promotion through channels perceived to be noncommercial c. Form of internal promotion through any and all channels d. Form of external price promotion
b. Form of external promotion through channels perceived to be noncommercial
The "company" in the Communications Triangle represents the: a. Frontline employees b. Formal company management c. Customers d. Company reputation
b. Formal company management
Pinterest is the only social media platform that is ________-looking. a. Outward b. Forward c. Backward d. Present
b. Forward
It is often most important for which kind of employee to have a strong customer orientation? a. Strategic b. Front line c. Behind-the-Scenes d. Managing
b. Front line
A change in price in an elastic market is likely to show _______ change in demand when compared to a similar change in an inelastic market. a. Variable b. Greater c. Equal d. Smaller
b. Greater
What is defined as frontline interactions in the Communications Triangle? a. Realistic Communication b. Interactive Communication c. Internal Communication d. External Communication
b. Interactive Communication
Which is NOT a type of marketing intermediary? a. Retailers b. Manufacturer c. Wholesalers d. Distributors
b. Manufacturer
Which of these is not an example of out-of-home advertising? a. Car wraps b. Online ad videos c. Billboards d. Signage
b. Online ad videos
What is the number one way to market to mobile users? a. Create several versions of an app b. Optimize webpage views through mobile sites c. Focus on email-based methods d. Link mobile users to the standard site
b. Optimize webpage views through mobile sites
Which of these is not a way to turn brand equity into dollar value? a. Licensing b. Price Competition c. Brand Extension d. Word of mouth
b. Price Competition
Black Friday is best described as an example of: a. Advertising strategy b. Price Promotion c. Public Relations Strategy d. Competitive advantage
b. Price Promotion
What is the point of on-site SEO? a. Increase pay-per-click b. Prove to Google that your content is relevant c. Prove to consumers that your content is popular d. Improve business to business marketing
b. Prove to Google that your content is relevant
What is the definition of retailing? a. Any form of sale with a price markup b. Selling goods and services to consumers for their own use c. Selling goods and services to companies to use in running the company d. Marketing goods and services for resale
b. Selling goods and services to consumers for their own use
The competitive retail price for a stereo system is $300. Retail stores normally have a margin of 30% for such items. Wholesalers normally have a margin of 20% for such items. The manufacturer's price is unknown. What steps should be taken to determine the manufacturer's highest price? a. Solve for Wholesale price, then Manufacturer price, then Retail price b. Solve for Retail price, then Wholesale price, then Manufacturer price c. Solve for Manufacturer price, then Wholesale price, then Retail price d. Solve for Retail price, then Manufacturer price, then Wholesale price
b. Solve for Retail price, then Wholesale price, then Manufacturer price
Which of these companies is more likely to use an institutional branding strategy for a new product or service? a. Procter & Gamble b. Sony c. ServiceMaster d. Nestle
b. Sony
Which of these is not a type of vertical marketing system? a. Corporate VMS b. Supplier VMS c. Contractual VMS d. Administered VMS
b. Supplier VMS
A company is looking to implement its new advertisement that is targeted specifically towards consumers 65 and older. Which communication channel would most effectively reach the intended audience? a. Snapchat b. TV commercials c. Twitter d. Instagram
b. TV commercials
Why do retailers exist? a. They add value by increasing discrepancies between the needs of consumers and sellers b. They add value by adjusting discrepancies between the needs of consumers and sellers c. They do not add value but do add convenience d. People always buy more from retailers than they do directly from producers
b. They add value by adjusting discrepancies between the needs of consumers and sellers
Which of these is an important characteristic of YouTube? a. Forward-looking b. Video-based search engine c. Business to business marketing d. 140-character limit
b. Video-based search engine
What is Spreading Activation? a. The creation of new nodes b. When nodes are energized and brought into working memory c. When consumers spread brand knowledge through conversation d. An external cue
b. When nodes are energized and brought into working memory
With social media marketing, who are you representing? a. Your followers b. Your brand c. The media platform d. Yourself
b. Your brand
What is a key account? a. a small customer that provides an average amount of revenues b. a very large customer that provides a significant portion of revenues c. the account a company holds with a minor supplier d. an account that links the company to other accounts
b. a very large customer that provides a significant portion of revenues
When does initial contact with the potential consumer occur? a. preapproach b. approach c. presentation d. introduction
b. approach
Which of these does not happen in a "smart industry"? a. greater subtlety of pricing options b. companies fight with price only c. greater use of techniques from other fields d. more complex pricing
b. companies fight with price only
Which of these is not a benefit of sub-branding? a. marketing power and promotional advantages of the institutional brand b. increased market share c. market flexibility d. new brand asset development, similar to individual brand
b. increased market share
What is the difference between merchant and agent wholesalers? a. merchants produce the product; agents sell it to consumers b. merchants take ownership to a product; agents act as intermediaries c. agents produce the product; merchants sell it to consumers d. agents take ownership to a product; merchants act as intermediaries
b. merchants take ownership to a product; agents act as intermediaries
Experts say that off-site is ________ important when compared to on-site SEO. a. equally b. more c. less
b. more
Brand equity starts as a ________ concept, but ends up having a real ________ effect. a. monetary; psychological b. psychological; monetary c. potential; realized d. inconclusive; mediated
b. psychological; monetary
Which of these is not a potential benefit of increasing a sharing economy? a. reduce environmental and waste impact b. realize potential market gains c. reverse effects of eroding social trust d. return economic benefits
b. realize potential market gains
A platform that receives renting fees receives those fees from the _______ and shares those fees with the _______. a. platform; owner b. seeker; owner c. owner; seeker d. recommender; seeker
b. seeker; owner
Brands marketed as more luxury options (such as Lexus) are likely to utilize ______ distribution intensity. a. intensive b. selective c. strategically placed d. broad-coverage
b. selective
Which of these is not a step in the personal selling process? a. prospecting b. sell c. presentation d. approach
b. sell
What jobs are the most likely to be automated? a. those with lots of critical thinking b. those with a great deal of routine c. those with a great deal of variety d. those with high-impact decision making
b. those with a great deal of routine
What is the largest inhibitor to the growth of sharing economies? a. advertising b. trust c. quality concerns d. initial cost
b. trust
What is dynamic pricing? a. price determined from bargaining b. variable rate for each customer c. standard, flat rate for each customer d. price set to change with stock prices
b. variable rate for each customer
The "magic lesson" teaches us how to turn what into dollars? a. negative reputation of the brand or firm b. what consumers know about the brand c. how competitors adjust in response to the brand d. the price of bestselling products
b. what consumers know about the brand
Which type of vertical marketing system has one member of the production/distribution chain that is super dominant? a. Contractual b. Corporate c. Administered d. None
c. Administered
Which of these is not an example of broadcast advertising? a. TV advertisement b. Radio advertisement c. Billboard advertisement d. All of these are examples of broadcast advertising
c. Billboard advertisement
The example of the purchase of the PanAm brand demonstrates how: a. Brands are unable to expand past their original industries b. Brands are worthless without assets as collateral c. Brands can have value beyond the book value of the firm d. Promotional advertising can save a business
c. Brands can have value beyond the book value of the firm
Assume that Netflix has introduced a new bundle service for their streaming services. Bundle 1 includes a base price of $9 to cover 25 hours of streaming for the month and variable price of $0.10 for every 30 minutes over that 25 hours. Bundle 2 includes no base price, but a variable price of $0.25 for every 30 minutes of streaming per month. When a consumer attempts to decide which bundle to use, what is he or she determining? a. Price elasticity b. Value of the brand c. Breakeven point d. Effectiveness of bundling
c. Breakeven point
Air BnB uses a model where the business integrates people who own homes into the market where consumers express demand. This is most accurately described as which type of sharing economy? a. Business to Person b. Peer to Peer sharing c. Business + Person d. Person to Business
c. Business + Person
What is a main risk of using email promotions? a. Privacy issues b. Cost of sending mail c. Consumers ignoring emails d. Cannot target emails effectively
c. Consumers ignoring emails
What is NOT something a company should consider when choosing a vertical marketing system? a. Best coverage the company's target market b. Provide the perspective buyer with what they want c. Convenience d. Most profitable
c. Convenience
Nike is an example of which type of vertical marketing system? a. Contractual b. None of these c. Corporate d. Administered
c. Corporate
When a producer sells directly to a consumer this is an example of which type of supply chain structure? a. Both b. Neither c. Direct d. Indirect
c. Direct
What are the two type of Supply Chains? a. Direct and Wholesale b. Indirect and Wholesale c. Direct and Indirect d. Resale and Wholesale
c. Direct and Indirect
Promotion is ultimately about making: a. Good communication efforts between management and employees b. The best sale price possible c. Effective exchanges between the seller and the customer d. Efficient exchanges between suppliers and retailers
c. Effective exchanges between the seller and the customer
Which aspect of the SUCCESS model is more common in the United States than in other countries? a. Simple b. Credible c. Emotion d. Concrete
c. Emotion
Which of these is not a characteristic of a good landing page? a. Clear offer b. Quality content offer c. Full company information d. Simple form
c. Full company information
Employees with high customer orientation will thrive in what kind of job? a. Low customer interaction b. These employees always choose their own job c. High customer interaction d. These employees can go to any job
c. High customer interaction
When determining which social media platform to use for marketing, what should marketing professionals consider? a. Pay-per-click advertisements b. Which platforms are most convenient for the firm c. How the platform fits with your product d. What is "cool" or trendy
c. How the platform fits with your product
In most circumstances, higher levels of customer orientation lead to all of the following except: a. Organizational citizenship b. Organizational commitment c. Job turnover d. Job satisfaction
c. Job turnover
Marketers tend to spend _________ on out-of-home advertisements compared to other methods. a. More b. The same c. Less d. Inconclusive amounts
c. Less
What is the main difference between the equations for margin and mark-up? a. Margin is (Price - Cost)/Cost and Mark-up is (Price - Cost)/Price b. Margin is (Price - Competition)/Price and Mark-up is Price - Competition c. Margin is (Price - Cost)/Price and Mark-up is (Price - Cost)/Cost d. There is no difference, they are synonyms
c. Margin is (Price - Cost)/Price and Mark-up is (Price - Cost)/Cost
In advertising, a marketing professional should know both her _______ and her _______. a. Stock prices; audience b. Competitors; budget c. Message; audience d. Message; retailers
c. Message; audience
Can the order of the AIDA model be changed? Why or why not? a. No, consumer reactions must drive the order b. Yes, each goal is individual and separate c. No, each step must be achieved before moving to the next d. Yes, changing the order keeps competitors on edge
c. No, each step must be achieved before moving to the next
Which of these is not an example of print media advertising? a. Newspapers b. Directories c. Radio d. Magazines
c. Radio
A grocery store is an example of what type of market intermediary? a. Distributor b. Wholesalers c. Retailers d. Agent/Broker
c. Retailers
In its simplest form, a Price Promotions is known as a(n): a. Rebate b. Gift c. Sale d. Advertisement
c. Sale
Which of these is not an advantage of sales promotions? a. Reduce risk of initial trial b. Balance demand against capacity c. Sales promotions have long-term effects e. Effectiveness measured directly
c. Sales promotions have long-term effects
When the company first started, Southwest's message in advertisements and managerial actions clearly communicated its commitment to low prices. What is this the best example of? a. Unexpectedness b. Emotion c. Simplicity d. Concreteness
c. Simplicity
What is the best example of a Frequent User Program? a. Black Friday sale b. Mail-in rebate c. Southwest credit card d. Buy-one Get-one Free
c. Southwest credit card
What is the key aspect of the definition of social media? a. Narrow reach b. Social media is online c. The ability it gives users to interact with each other d. Content comes in app form
c. The ability it gives users to interact with each other
When does activation occur? a. With social media-based marketing b. With only external cues c. With either external or internal cues d. With only internal cues
c. With either external or internal cues
The acronym LAURA helps us to analyze and adjust when: a. employees have provided poor customer service b. consumers are belligerent with frontline employees c. a product or service has disappointed the consumer d. a product or service has exceeded expectations of consumers
c. a product or service has disappointed the consumer
A brand map determines brand associations from the perspective of the: a. board of directors b. management c. consumer d. competitor
c. consumer
The goal of "remind and reinforce" applies to advertisements aimed at: a. any customers b. future customers c. current customers
c. current customers
What has been a problem of implementing Peer to Peer sharing? a. determining companies who will invest b. finding platforms where consumers express demand c. finding platforms where it is legal and available d. determining products
c. finding platforms where it is legal and available
Brand awareness is associated with the ability of the brand to __________ who is offering a product or service, while brand association is associated with the ability of the brand to ____________ from competitors. a. differentiate; identify b. respond; attack c. identify; differentiate d. separate; connect
c. identify; differentiate
When employees with high customer orientation are embedded in an organization that emphasizes (and benefits from) customer satisfaction, profits are likely to: a. stay the same b. exponentially decrease c. increase d. decrease
c. increase
What is price skimming? a. offering customization at a price premium b. reintroducing an old product at a different price c. setting a high price for a new product to skim maximum revenues d. setting a low price to penetrate the market
c. setting a high price for a new product to skim maximum revenues
Automaticity in a branding context means: a. initial evaluation of a brand is made automatic and efficient b. a consumer's conscious decision to memorize aspects of a brand c. the evaluation of a brand is brought to either conscious or subconscious thought d. the automatic reaction of consumers to a brand they have never encountered.
c. the evaluation of a brand is brought to either conscious or subconscious thought
What is the definition of Price? a. the combination of values for all raw values b. what is provided as a good or service c. what is exchanged for the product, service, or idea d. the treasury-backed ultimate value of a product
c. what is exchanged for the product, service, or idea
What is the key difference between cost-based pricing and value-based pricing? a. focus on quantity vs. focus on quality b. how you value each layer of business c. where you start the process d. weight placed on customer service
c. where you start the process
A grocer has purchased a truckload of frozen dinners for $3 each. The grocer operates on a margin of 30% for frozen food items. What is the retail price to the consumer? a. $2.60 b. $5.78 c. $3.35 d. $4.29
d. $4.29
What is a landing page? a. The sales section b. A page devoted to a certain product c. The web homepage d. A special page specifically for people who click on your ad
d. A special page specifically for people who click on your ad
Which of these is not a goal covered by Public Relations Advertising? a. Desire b. Awareness c. Interest d. Action
d. Action
A real-estate company is an example of what market intermediary? a. Wholesaler b. Distributor c. Retailer d. Agent/Broker
d. Agent/Broker
Posts that have a(n) __________ element tend to do well on Instagram a. Grayscale b. Intrinsic c. Audio d. Artistic
d. Artistic
The added value delivered by the brand over the functional benefits or book value is called: a. Brand Evaluation b. Brand Interest c. Brand Recognition d. Brand Equity
d. Brand Equity
An agreement whereby a company permits another organization to use its brand on other products for a fee is defined as: a. Brand Addition b. Franchising c. Joint venture d. Brand licensing
d. Brand licensing
What is an advantage to corporate VMS? a. Low taxes b. Large trust in all channel members c. Low cost d. Control of all aspects of the system
d. Control of all aspects of the system
Which is NOT an important factor in Amazon's supply chain to have fast delivery? a. Size b. Number of warehouses c. Location d. Cost
d. Cost
Which is not a function that distributors perform? a. Selling b. Delivering c. Maintaining Inventory d. Creating Products
d. Creating Products
Compared to digital or broadcast advertising, print advertisements tend to lack: a. Clarity b. Ingenuity c. Words d. Flexibility
d. Flexibility
Which of these is not a branding strategy? a. Sub-branding b. Institutional Branding c. Individual Branding d. Franchise Branding
d. Franchise Branding
Which of these is the best example of Contractual VMS? a. Retailing b. Agent/Broker c. Ownership d. Franchising
d. Franchising
Who is interacting in Interactive promotions? a. Top management and employees b. Employees and top competitors c. Background employees and technology d. Frontline employees and customers
d. Frontline employees and customers
What is the best way to have excellent off-site SEO? a. Use repetitive, homogenous links b. Keep content the same as long as possible c. Have an easily navigated webpage d. Have high quality content
d. Have high quality content
Advertising is best thought of as a(n): a. Immediate payoff b. ROI c. Dividend d. Investment
d. Investment
What is the first step in strategic pricing? a. Increasing the marketing budget b. Financing large projects c. Knowing the price of your competitors d. Knowing how your industry behaves
d. Knowing how your industry behaves
Which of these marketing methods is the most unique to mobile marketing? a. Pay-per-click b. Display ads c. Social media d. Location-based
d. Location-based
In the Transactional Model of Communication, who fulfills the role of the Sender? a. Market forecast b. Consumer c. Retailers d. Marketer
d. Marketer
Google's display network is huge, with approximately ___________ monthly impressions (as of fall 2017). a. A hundred thousand b. 6 billion c. 10 million d. One trillion
d. One trillion
What is the supply chain? a. Promotions and offers involved with the flow of activities from raw materials to the customer b. Products and services involved with the flow of cash from the consumer to the firm c. None of the above d. Organizations and activities involved with the flow of products from raw materials to the customer
d. Organizations and activities involved with the flow of products from raw materials to the customer
Which of these is not a form of a sharing economy? a. B2P b. P2P c. B+P d. P2B
d. P2B
Why is telling stories such an impactful way to advertise? a. Storytellers inevitably fail b. Consumers are irritated with failure c. Consumers become bored with stories quickly d. People are drawn into stories
d. People are drawn into stories
Targeting based on "where people have been" is known as: a. Forecasting b. Market segmenting c. Coupon rate d. Remarketing
d. Remarketing
Pay-per-click marketing is also known as: a. Bidding b. Google mining c. Online advertising d. Search marketing
d. Search marketing
What is a sales promotion? a. A synonym for advertising b. Long term external promotion tactic designed to influence future purchase c. Price cuts only d. Short term external promotion tactic designed to influence immediate purchase
d. Short term external promotion tactic designed to influence immediate purchase
Companies who are recruiting new employees often ask to come to college campuses and speak in classes. What type of public relations tool is this most like? a. Philanthropy b. Press kits/releases c. Event sponsorship d. Speaking engagements
d. Speaking engagements
Social media marketing, when compared to normal social media use, uses the platform: a. More often b. Aggressively c. Passively d. Strategically
d. Strategically
A type of selling in which the organization is represented by multiple people, which might include a salesperson, a technical support specialist, or others, is defined as: a. Team Account b. Group Sales c. Group Work Ideation d. Team Selling
d. Team Selling
What is puffery? a. Inflation of price during peak business hours b. Inflating negative expectations c. Exaggerating reports of the number of consumers d. The idea that most ads tell only the best-case scenario
d. The idea that most ads tell only the best-case scenario
What does the supply chain represent? a. None of the above b. Just the original manufacturer c. The market intermediaries d. The steps it takes to get the product from the original manufacturer to the consumer
d. The steps it takes to get the product from the original manufacturer to the consumer
_______ is not about what we put into our product, it's what our customers get out of it. a. Marketing b. Evaluation c. Price d. Value
d. Value
There is a trend towards ________ elements in social media a. Tangible b. Audio c. Multimedia d. Visual
d. Visual
What is the main advantage of using a sub-branding strategy? a. general flexibility b. ability to take on the advantages of individual and institutional branding c. ability to avoid the disadvantages of individual and institutional branding d. all of these
d. all of these
A way of visually presenting where your brand is in consumers' minds is called a: a. brand association b. brand attribute c. brand recognition d. brand map
d. brand map
What are the two functions of a brand? a. locate and determine b. compete and improve c. market and recruit d. identify and differentiate
d. identify and differentiate
Brand associations within a brand map can also have _______ attached to them. a. affiliation b. price c. organization d. mood and emotion
d. mood and emotion
When it comes to compensation in a channel of distribution, _______ plays the most important role. a. market share b. relative importance c. replicability d. power
d. power
The primary value of a brand for consumers is the: a. definition of corporate social responsibility b. ability to compare prices c. association with target groups d. reduction of perceived risk
d. reduction of perceived risk
A form of personal selling that involves securing, developing, and maintaining long-term relationships with profitable customers is defined as: a. personality-based marketing b. transactional selling c. business to business selling d. relationship selling
d. relationship selling
Why is breaking bulk important? a. sellers dislike producing in bulk, but consumers want large amounts b. breaking bulk is inconvenient for the consumer, leading to impulse buys c. breaking bulk is unnecessary d. sellers want to produce in bulk, consumers want to buy in small amounts
d. sellers want to produce in bulk, consumers want to buy in small amounts
