MKTG Final

One of the challenges of understanding consumer omnichannel navigation behavior is that ____

A specific pattern of channel navigation varies across consumers

A consumer who is potentially profitable but not loyal to a firm's offerings is referred to as a ________.

Butterfly

For marketing to be effective, it must

Create customer value

Sales managers use a ____ that shows which customers and prospects to pursue and which activities to carry out

Call Plan

A product or service's ____ is calculated by adding together the greenhouse gas emissions resulting from every stage of a product or service's lifetime, from raw material production, sourcing, manufacturing, packaging, transport, and wholesale and retail processes to consumer usage and end-of-life disposal.

Carbon Footprint

P&G's Tide Loads of Hope program provides mobile laundromats and loads of clean laundry to families in disaster-stricken areas. This is an example of ________ marketing.

Cause-Related

The stage in which product ideas are presented to groups of target consumers physically or symbolically is referred to as ________.

Concept Testing

The two major citizen action movements to keep businesses in line are _____

Consumerism and Environmentalism

More than 80 percent of McDonald's restaurants worldwide are owned and operated by franchisees. This illustrates a(n) ________ marketing system.

Contractual VMS

_____ products are consumer products and services that customers usually buy frequently immediately, and with minimal comparison and buying effort

Convenience

Harley Davidson disciples share a common, deeply held attraction to the brand. Harley appeals include: freedom, independence, power, and authenticity. Harley Davidson doesn't just sell motorcycles. It sells self-expression, lifestyles, aspirations, and dreams. This illustrates ____

Core Customer Values

A product life cycle has five distinct stages: product development, introduction, growth, maturity, and ____

Decline

____ is often the most difficult but most critical step in the research process

Defining the problem and research objectives

_____ is the study of human populations in terms of size, density, location, age , gender, race, occupation , and other stats

Demographic

Danko International is a multinational company that targets the BRIC countries (Brazil, Russia, India, and China) because they're fast-growing developing economies and use ________ to segment its world markets.

Economic Factors

_____ is a management approach that involves developing strategies that both support the ecological balance and produce profits for company

Environmental Sustainability

_____ is an organized movement of concerned citizens, business, and government agencies designed to protect and improve people's current and future living environment

Environmentalism

Brands vary in the amount of power and value they hold in the marketplace. Iconic brands like Apple, Google, and Harley-Davidson have achieved substantial brand ___

Equity

The simplest way to enter a foreign market is through

Exporting

If a firm can position itself as having products that provide superior customer value in some way, then it can ________ its competitors

Gain a competitive advantage over

____ refers to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible

Horizontal Extensions

When demand hardly changes with a small change in the price of a product, the demand for the product is best described as ________.

Inelastic

_____ involves enlisting or even creating opinion leaders to serve as brand ambassadors who spread the word about a company's products

Influencer Marketing

Jim's Hardware relies on its ________, which is a series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products.

Internal Value Chain

Some companies, such as Google, have _____ that encourages employees to develop new ideas

Intrapreneurial Programs

Which of the following is generally regarded as the most challenging issue with regard to public policy and ethics confronting the direct marketing industry?

Invasion of Consumer Privacy

Which of the following statements is most likely true of team selling?

It can unearth problems and provide solutions that no individual salesperson could

Which of the following describes the WTO?

It imposes international trade sanctions

Dividing a market into several sections of customers is known as ________.

Market Segmentation

With each new generation of Apple iPhone, iPad, or Mac computer, new models start at a high price then work their way down as newer models are introduced. Apple initially uses a ________ strategy.

Market-Skimming

A ____ is purposeful, specifying what an organization wants to accomplish in the larger environment

Mission Statement

_____ can provide on-the-go product information, price comparisons, advice and reviews from other consumers, and access to instant deals and digital coupons

Mobile Marketing

Under ________, the market consists of many buyers and sellers trading in a uniform commodity such as wheat, copper, or financial securities.

Monopolistic Competition

Rad, a manufacturer of luxury watches, charges a higher price for its products than its competitors. Despite the high prices, the brand is popular among customers for its quality and service in comparison to cheaper alternatives available in the market. In this case, Rad offers a(n) ________ value proposition.

More-for-More

______ creates a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping

Omni-Channel Marketing

______ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

Positioning

____ is the only element in the marketing mix that produces revenue

Price

_____ is the sum of all the values that customers exchange for benefits of having or using a product or service

Price

Which of the following sets the price floor lower limit for a product's pricing?

Products Costs

In a promotion mix, ____ performs the functions of building a good rapport with entities outside the company, building up a good corporate image, and handling unfavorable rumors and events

Public Relations

The most common research instrument, whether administered in person, by phone, by e-mail, or online, is the ___

Questionnaire

A class-action lawsuit was brought against the 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

Which of the following plays the most important role in omni-channel retailing?

Social Media

Susan has been redecorating her new condo for a year. She is carefully selecting every item. Susan finds an oriental rug that matches her color scheme and décor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n) ________.

Specialty Product

______ marketing calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Sustainable

A tax on an imported product designed to raise or protect domestic firms is referred to as a(n) _____

Tariff

How do firms that use captive-product pricing make up for the low prices of their main products?

They set high markups on the captive products

Movie theaters charge matinee pricing during the daytime, and resorts give weekend and seasonal discounts. This is illustrative of a ________ pricing strategy.

Time-Based

Vac "N" Sew, a consumer electronics outlet, offers a price reduction of $100 when customers bring in a used vacuum cleaner and exchange it for a new vacuum cleaner or sewing machine. This is an example of a ________.

Trade-in allowance

According to the five-step model of the marketing process, the first step in marketing is ________.

Understanding the marketplace and customer needs and wants

A ____ consists of producers, wholesalers, and retailers acting as a unified system. The system can be dominated by any one of the interdependent members

Vertical Marketing Systems

Savvy marketing managers know ___

that it is impossible to serve all potential customers in every way

Which of the following transforms marketing strategies into real values for consumers?

the four P's of marketing