MKTG Terms for Test 2!

Joey set up a lawn-mowing business in his neighborhood. He currently has 7 customers that want their lawns mowed each week for which he charges them $25.00 each. Joey spends $10.00 a week in gas and another $17.00 in yard waste bags and stickers. What is Joey's weekly profit? A. $105.00 B. $175.00 C. $148.00 D. $88.00 E. $158.00

$148

Compared to radio which took 38 years to 50 million reach users. Facebook reached 100 million users in only

5 years

which of the following persons is using social media to act as a brand ambassador?

Noah, who posts pics of him and his friends drinkjing red bukll at a resort

The price strategy of unbundling involves

Separating out the individual goods that make up a product and pricing each one individually

What happens in the zero moment of truth?

a customer uses a digital device to begin learning about a potential purchase

Juanita's place is a dress shop that caters to dresses for special occassions such as school proms, holiday parties, and weddings. Juanita has a staffof trained employees that help in the selection of dresses regarding style, fit, and appropriateness for the occasion. The store also offers alteration services and free delivery. Juanita's Place is an example of ___

a full-service store

A retailer that offers ulta-low prices, but requires customers to pay an annual fee for the privilege of shopping in the store is referred to as:

a warehouse club

The ease with which website visitors can achieve their objectives for visiting the site is termed

a website usability

While on vacation in Europe, Maria purchased an antique porcelain vase valued at $25,000. She needs to have it delivered to her home in Kentucky. What would be the best mode of transportation for this item?

air transportation

The almost instantaneous transfer of information from one company's computer to another that allows ERP systems to communicate with the information technology systems of other companies is done through A. a radio frequency identification system. B. a just-in-time inventory system. C. an electronic data interchange. D. a computerized identification system. E. an electronic inventory system.

an electronic data interchange

why are marketing organization's committing increasing percentages of their resources to social media marketing?q

bc people are spending more time on social media platform

when it comes to the use of color in website design, which of the following colors represents a sense of trustworthiness and openness?

blue

In order to maintain high inventory turnover, discount stores chose:

breadth over depth

a strategy in which two or more companies issue a single product in an effort to capitalize on the equity of each company's brand is called

co branding

the mechanism that filters large amounts of information about consumers' previous purchases that may be related in some way in order to predict consumer prefereence

collaborative filtering

One of the most commonly used pricing tactics, markup pricing, is also referred to as

cost-plus pricing

The first step in the price setting process is to`

define the pricing objectives

Nordstrom and Macy's are both types of:

department stores

A local craft brewer offers many varieties of beer. You can find robust stout beer, pale ales, and beer flavored with everything from coffee to citrus fruit . This is an example of the brewer's ___

depth of assortment

Which of the following statements regarding supply chain management is NOT true?

each channel within a supply chain acts independently of the other channels

in the FAB approach, attributes or Facts relating to the product being sold or demonstrated

features

The performance measurement that calculates the percentage of an order shipped on time and complete is called the:

fill rate

All of the following are primary roles of a sales manager except

finding new customers

In contrast to tools such as advertising and sales promotion, personal selling is often a much more effective tool

in complex purchase situations

The majority of retail operations are___

independent retailers

Which sales role generally requires higher levels of education and prior sales experience in order to establish and maintain partnership relationships with a small number of accounts?

key account sellers

the net present value of a customer's business over the span of their relationship with an organization is referred to as

lifetime value

The part of supply chain management that plans, implements, and controls the flow of goods, services, and information between the point of origin and the final customer is called

logistics

According to your text, which of the following is NOT a fixed cost?

material

placing an order for a product on a company's web page is a(n) _ method for direct customer interaction

mechanical

what type of salesperson generates sales by promoting the firm and encouraging demand for its good and services but does not actually take orders for the product?

missionary salespeople

The metric that measures the ability of the order system to react to customer orders is the:

order cycle time

what type of media comes from publicity gained via brand controlled source such as a website, blog, or a company's FB page?

owned media

One of the most important concepts in marketing is the price elasticity of demand, which is the ___

percentage change in quantity demanded in response to a percentage change in price

the two way flow of communication between a salesperson and a customer that is paid for by the firm and seeks to influence the customner's purchase decision is referred to as _

personal selling

One of the most important strategic decisions a firm faces is ___ because it reflects the value the product delivers to consumers as well as the value it captures for the firm

pricing

The function that takes in orders, checks stock for availability, and prints tickets for warehouse workers to reference as they select products from warehouse locations occurs during which stage of the order cycle? A. placing order B. acknowledging order C. processing order D. filling order E. delivering order

processing order

Which of the following demonstrates how logistics has an effect on the product element of the marketing mix?

providing feedback on product packaging

A supply chain strategy in which a company builds goods based on a sales forecast, puts those goods into storage, and waits for a customer to order the product is called a

push strategy

a family traveling in their car is looking for a place to eat off the highwAY. ONE of the children in the car sees a sign up ahead w the face of Ronald McDonald on it and exclaims "lets go to McDonald's!' This is MOST likely an example of brand:

recognition

Since consumers have the tendency to compare prices on almost everything they buy, marketers should attempt to capitalize on this tendency when setting prices by determining the price consumers will consider fair and reasonable for a product. This is known as the A. benchmark price. B. break-even point. C. dynamic price. D. reasonable price. E. reference price.

reference price

In order to provide consistently relevant marketing content, marketers must provide consumers with content that is all of the following except:

repititive

A firm's flexibility is measured by which metric? A. order cycle time B. responsiveness C. perfect order rate D. on-time delivery E. fill rate

responsiveness

An organization purchases products with the intention of selling them to the ultimate consumer for their personal, family, or household use. This organization is a `

retailer

A retailer that adds goods and services that may be unrelated to each other and to the firm's original business is engaged in:

scrambled merchandising

katie wants to be successful in her selling career, so she strives to improve her _ knowledge by workingon her sales abilities different selling techniques

selling-related

Which of the following terms is NOT associated with a pull strategy?

speculation

Warehouse activities can be organized into three basic functions: A. storage, shipping, and restocking. B. sorting, allocating, and movement. C. production, assembly, and storage. D. receiving, storing, and movement. E. storage, movement, and production.

storage, movement, production

The number of distinct goods or service product lines that a retailer carries is referred to as:

the breadth of assortment

What do post incident surveys measure?

the customer's service experience w the compoany

The marketing strategy that reflects the idea that a firm's long term success must include a company wide effort to satisfy customer needs and wants is referred to as:

the marketing concept

Which of the following accurately describes break-even analysis?

the process of calculating the sales volume needed to achieve a profit of zero

A supply chain refers to

the set of three or more companies directly linked by one or more of the upstream and downstream flows of products, services, finances, and informatin from a source to a customer

the ability of a company to deliver a good or service by the time the customer expects to have it available for sale or consumption is referred to as:

timeliness

what is the function of a channel sales representative?

to secure new distribution intermediaries