Playposit Review
Segmenting is best viewed as a(n) ________ process.
"clustering" or aggregating
Rachel owns a t-shirt shop named Vacation on a California beach. Rachel buys t-shirts for $10 each and sells them for $20. Vacation's only other cost is the $100 per month she pays to rent a table at the beach. On average, she sells 200 t-shirts per month. Rachel is the only employee and she earns no wages, she just keeps any profits. What is Rachel's fixed cost contribution per unit?
$10
A retailer pays a wholesaler $24.00 for an item and then sells it with a 25 percent markup. The retailer's selling price is
$32
Which of the following questions will be answered in Chapter 17? [Check all that apply]
-How can marketing managers enhance the value-and then capture some of that value with appropriate pricing? -What are some different pricing strategies -Why do some new products enter a market with low prices? But others with very high prices?
The two basic decisions that must be made in developing a sales force compensation plan:
-Method of payment -level of compensation
Which of the following are part of the external market environment? [Check all that apply]
-Social and cultural changes -Economy -Legal regulations
As compared to traditional media, social media differs because it has: [Check all that apply]
-a many to many communication model -no cost for media placement
Which of the following is an example of a Product decision that a retailer would make? [Check all that apply]
-level of after-sale service and support -the width and depth of its product line
The three basic sales tasks are: [Check all that apply]
-order taking -order getting -supporting
This video describes how Chapter 8 will also include which of the following? [Click all that apply]
-packaging -consumer product classes -branding -goods and services -business product classes
Promotion methods include: [Check all that apply]
-personal selling -advertising -publicity -sales promo
Chapter 17 covers which of the following topic? [Check all that apply]
-pricing in the early stages of the product life cycle -How price objectives guide strategy planning for price -Value pricing -Price Flexibility
As compared to services, most goods are... [click all that apply]
-produced in a factory far from consumers -tangible
Which of the following are topics covered in Chapter 10? [Check all that apply]
-product classes are related to place objectives -how channel specialists make channel system more effective -direct versus indirect distribution
Which of the following is an example of a Place decision for a brick and mortar retailer? [Check all that apply]
-store size, layout and design -geographic location of its stores
Customers are more price sensitive when: [Check all that apply]
-they can easily compare prices -the expense is relatively large
Chapter 18 will address which of the following questions? [Check all that apply]
-what influences customers price sensitivity -why do we want prices to be based on customers (demand) instead of on the companies (costs) -what are fixed costs?... -what is the "math" behind setting prices?
Which of the following are reasons a manufacturer may choose a direct channel of distribution? [Check all that apply]
-when the manufacturer can find no suitable intermediaries -When the manufacturer wants greater control over the marketing mix
Chapter 13 will answer which of the following questions? [Check all that apply]
-why would a company use promotion with channel intermediaries?... -why would an organization use different methods of promo? -how does promo change over the product life cycle
Which of the following is the WORST example of an advertising objective?
"we want our advertising to create favorable word-of-mouth promo for our product"
Which of the following are examples of a category killer? [Check all that apply]
-Home depot -best buy -lowes
Which of the following topics will be covered in Chapter 4? [Choose all that apply]
-Segmenting and targeting customers -Positioning
Which of the following are true about personal selling?
-salespeople make strategy decisions -good personal selling simply helps customers buy
What is the share of total retail sales in the U.S. sold online? [Choose closest answer]
10%
What percentage of people in the United States work in sales?
10%
The fastest growing advertising media is:
Digital advertising on mobile devices
_____ are people in key positions in the organization who control the flow of information and could include receptionists, secretaries, researchers, and others.
Gatekeepers
Beef is separated into eight quality grades, including U.S. Prime, U.S. Choice, U.S. Select, U.S. Standard, U.S. Commercial, U.S. Utility, U.S. Cutter, and U.S. Canner. This is an example of:
Sorting
Percy Malik, purchasing agent for Black Mountain Chemical Industries, routinely signs purchase orders for office supplies without further consideration. At Black Mountain, purchases of office supplies are
Straight rebuys
Which of the following statements about the communication process is true?
all the above
When Verizon advertising shows a map of its coverage versus AT&T, this is an example of:
comparative advertising
Which of the following is NOT a consumer product class?
derived
What is the first job of an advertisement?
get attention
The AIDA model includes all of the following promotion jobs EXCEPT
increasing demand
Which of the following types of advertising is recommended in the confirmation step of the adoption process?
informative "why' ads
___________ tries to promote the organization's image, reputation, or ideas.
institutional advertising
________________ is the intentional coordination of every communication from a firm to a target customer to convey a consistent and complete message.
integrated marketing communications
Some developers of apps for the Apple iPhone price their apps low at launch to encourage sales and get attention so they can move into the prestigious "Top 25" list. Then, they frequently raise prices to get a higher profit margin on later sales. The initial low price is a(n)
introductory price deal
This chapter covers which of the 4 Ps?
place
Which promotional approach emphasizes the importance of securing the wholehearted cooperation of channel members to promote the product in the channel and to the final user?
pushing
A SWOT analysis is most likely to be used in which stage of the new-product development process?
screening
Which of the following is NOT one of the selective processes?
selective distribution
When Pepsi's advertisement was misunderstood, we saw an example of:
the encoded massage differing from the decoded message
This chapter will show that...
the middleman often creates value
At a general level, retailers can be categorized based on...
All above
Marginal analysis
All of these
Which of the following is true regarding product classes?
All the above
_______ research watches customers in their own natural environment.
Ethnographic
In the last few decades, all major companies in the United States have moved beyond the simple trade, production, and sales eras—and now operate in either the marketing department or marketing company era.
False
True or False. In the video lecture, we saw data to suggest that Dunkin' Donuts is NOT very differentiated from Starbucks.
False
True or false. The B2B (business-to-business) market has slightly less total sales as compared to the consumer market.
False
Organic Jellies allows a 10 percent reduction off list prices whenever a retailer orders more than 100 cases in one shipment. This is a
Noncumulative quantity discount
Which type of media is not highly trusted and declining in effectiveness?
Paid media
Companies practicing the marketing concept measure profit or another measure of long-term success. The video suggested that the triple bottom line is a measure of a firm's success based on multiple criteria, commonly referred to as:
People, planet, and profit
True or false, sonic branding associates a brand name with a sound that customers love.
True
True or false, the Chick-fil-A app shown in this video lecture adds value for customers
True
Which of the following statements is true about the customer-initiated communication process?
a customer initiates the communication process with a decision...
Which of the following is a possible outcome of a sales promotion?
all the above
Why are there so many different types of retailers?
because there are so many different types of customers
Companies with limitations on working capital or facing market uncertainty usually:
compensation salespeople with commission or a combination plan
Which of the following would probably be treated as a capital item by a large clothing manufacturer?
computer-controlled fabric cutting machines
McDonald's put together a focus group to get reactions from customers about whether a midnight snack line of products would satisfy their needs. At this point, McDonald's is doing ______.
concept testing
sidebar interaction. Press tab to begin. Customer value should be determined by taking the ________ perspective
customers
Charlotte was thinking about buying a new Tesla (electric car). When gathering information, Charlotte found magazine articles and discussions with current Tesla owners most useful in helping her decide to buy a new Tesla. The information Charlotte found most helpful is:
earned media
Organizational buyers focus primarily on:
economic needs
In the adoption process, persuading might be an objective during which stage of the adoption process?
evaluation
At which stage of the product life cycle, will profits be highest?
market growth
The ________ means retailers should offer low prices to get faster turnover and greater sales volumes—by appealing to larger markets.
mass merchandising concept
In this video lecture, Activia Yogurt tries to communicate that customers have a ___ for better gut health?
need
is communicating information between a seller and a potential buyer or others in the channel to influence attitudes and behavior.
promotion
Whenever National Airlines changes the price for a flight from Denver to Seattle, Northern Airlines changes its prices to match the National's price. It appears that Northern's pricing follows _________ objectives.
status quo-oriented
A ________ objective sets specific guidelines for a level of profit.
target return
Which of the following is the best example of a generic market?
the senior citizen recreation market
Average cost is obtained by dividing
total cost by the related quantity.
An intermediary seeking high profits should
try to find the markup level related to the most profitable price
According to the video (shown in this lecture), which of the following were among the qualities of salespeople? [Check all that apply]
-optimism -ego-drive -responsibility -empathy -focus
Increasing customer equity by enhancing customer value could include:
Getting customers to buy more often
Which of the following are tools used to evaluate opportunities? [Check all that apply]
-Planning grids -Screening criteria
Which of the following questions will be answered in Chapter 15? [Check all that apply]
-what is sales promo? why would a company use it? -what are the various strategy decisions involved in advertising? -how can a marketing manager use different types of advertising to achieve different promo objectives? -what media are growing? what media are declining
A ______ is a relatively homogeneous group of consumers who will respond to a marketing mix in a similar way.
Market segment
The Los Angeles Lakers (professional basketball team) redesigned its uniforms. Their organizational buyer must now go out and purchase new warm-ups to match the new design. The type of organizational buying process most likely to be used would be:
Modified Rebuy
Which of the following was mentioned as an example of a product failure? [Check all that apply]
Nissan Murano Watermelon Oreos
When customers search using a web browser (like Google), which of the following types of media might they encounter in the search results?
all of these
Which of the following are influences on pricing?
all the above
If a consumer product is used regularly and usually bought frequently and routinely with little thought (although branding may be important), the product is a
staple product
Which of the following drives positioning?
-Competitors -Customers -Company
_______ overlays a computer-generated image, sound, text, or video on a user's view of the physical world. It can augment a customer's experience of a product. radio_button_checked Augmented reality
Augmented reality
A product-market opportunity drives marketing strategy decisions about:
all of these decisions
The first step in market segmentation should be:
defining some broad product-markets where you may be able to operate profitably.
Social media operates as:
all of these
The "Four Ps" of a marketing mix are:
Product, Place, Promo, and Price
For Dollar General, Amazon, Walmart, and Target are examples of:
Competitors
Which of the following gives the correct order of the steps in the adoption process?
awareness, interest, evaluation, trial, decision, confirmation
Apple's iPad and iPod were successful (in part) because they were?
fast second-movers in the market
The big problem with average-cost pricing is that
it ignores the firm's demand curve
Which of the following is a characteristic of owned media?
its typically characterized by high message control
What is the best pricing tool marketers have for looking at costs and demand at the same time?
marginal analysis
For heterogeneous shopping goods, like automobiles, marketers should employ an intermediary that has:
utilize knowledgeable salespeople who can provide insight about different brands and models
In selling its solar panels, Namaste Solar shows customers exactly how much they will save on their electric bill each month. Customers see that the monthly payments they make on their solar panels are lower than the electric bill savings. Namaste is using:
value is use pricing
A publisher of photography books finds that it is cost-effective to print 10,000 or more at a time. But a bookstore orders only a few copies of each book, since its customers want to select from a wide variety. This example shows
why both discrepancies of quantity and discrepancies of assortment occur
Cargill and General Foods have a very close relationship. When General Foods starts producing a new food product, it works very closely with Cargill. Which of the following dimensions are likely to operate in this relationship? [Check all that apply]
-Frequent and open information sharing -High levels of cooperation -Relationship-specific adaptations
In the Kohler video, which of the following are examples of value provided by Kohler's Touchless.
-Germaphobes feel safer, they don't have to touch the flush handle -It gets toddlers excited to go potty
What questions are answered in Chapter 5? [Check all that apply]
-How do culture and ethnicity influence buying? -What are the psychological variables and social influences that impact the buying process? -How do consumers make decisions? What steps are in the process? -Why do consumers buy what they buy? -What role do situational factors play in buying -what role do economic needs play in the decision to buy?
Which of the following questions does this chapter answer?
-How does a marketing manager decide how to segment the market - divide the market into smaller groups of customers? -How does the marketing manager decide which segment to target? -What is positioning? How does it help a company differentiate a marketing strategy?
According to examples provided in this video lecture, which of the following brands are sold direct? [Check all that apply]
-Insomnia Cookies -GEICO -Nespresso
Which of the following are objectives of this video?
-Know which chapter 6 learning objectives are most important -Know what content will be covered in Chapter 6
Which of the following are examples of quantitative screening criteria? [Check all that apply]
-Market share -Profitability
Which of the following is (are) part of Promotion? [check all that apply]
-Personal selling -An informational web page -Facebook Page -Advertising
In thinking about segmenting vs. combining, which of the following are true [Check all that apply]:
-Profit should determine whether to segment or combine -Segmenting can product larger sales -It can be risky to combine too much
The market for jeans (pants) includes many different brands and styles. In this video we saw Swiss Cross, Balmain, and Patagonia. These examples demonstrate: [check all that apply]
-There are different needs across buyers of jeans -These producers of jeans practice target marketing
Which of the following is true about digital advertising: [Check all that apply]
-Utilizes programmatic advertising -knows where customers have been on the web -often uses a pay-per-click model
This chapter answers which of the following questions [Check all that apply]
-What are different types of info -What research methods are available -How do we judge the quality of info
What kinds of questions will this course answer? [check all that apply]
-What is a marketing strategy? -Why do some products succeed and others fail? -Why are there so many bicycles?
Which of the following are reasons why a marketing class is important to all students, regardless of major? [Check all that apply.]
-When you look for a job, you are marketing yourself. -No matter what job you have, you will probably have to do some marketing. -It will help you as a consumer, to make better purchase decisions.
The three steps in the organizational buying process include [check all three that apply]
-Decision-making process -Managing the buyer-seller relationship -Define the problem
Which of the following from our marketing strategy process planning environment will be explored in Chapter 3? [Check all that apply]
-Company -Competitors -External marketing enviro
Customer equity recognizes the importance of:
-Customer retention -Enhancing customer value -Customer acquisition
Customer lifetime value recognizes:
-Customers have value because they can buy again and again -Customers can purchase in larger amounts over time
The video on the "Miracle Apples" covered which of the following topics - that will also appear in the upcoming chapters on Product - Chapter 8 and Chapter 9. [Click all that apply]
-Commodity products vs. differentiated products -brands -Trademarks
When evaluating the AFLAC brand name, which of the following characteristics suggest it is a good name [Check all that apply]
-"AFLAC" is short and simple -"AFLAC" is legally available
Which of the following topics are covered in Chapter 7? [Check all that apply]
-A 5 step process for marketing research -Marketing research
In Chapter 15, you will learn about: [Check all that apply]
-advertising objectives -digital and mobile advertising -kinds of advertising -sales promo
Which of the following is an example of a Promotion decision for a brick and mortar retailer? [Check all that apply]
-content of a newsletter -advertising -social media content
The advantages of mail and online surveys include: [Check all that apply]
-convenience for the respondent -the ability to ask an extensive set of questions -a greater willingness by the respondent to provide personal info -anonymity
Which of the following topics are covered in Chapter 14? [Check all that apply]
-customer service -personal selling
Which of the following are true about customer service? [Check all that apply]
-customer service people advocate for the customer -customer service promo the next purchase -the focus of customer service is on the service that is required to solve a problem that a customer with a purchase
Which of the following types of advertising are most likely used when customers are in the decision stage of the adoption process? [Check all that apply]
-direct-action retail ads -icons -point-of-purchase ads
Which of the 4 Ps is better or more important than the other three?
No one of the Ps is more important
Chapter 13 covers: [Check all that apply]
-integrated marketing communications -promo blends -promo
Selective distribution [Check all that apply]
-is typically associated with shopping products -often moves to intensive as the market grows -gets special effort from channel members
Which of the following are true about a one-price policy? [Check all that apply]
-maintains customer goodwill -used for frequently purchased items -convenient
The video on Sam, the travel blogger, is an example of: [Check all that apply]
-multichannel shopping -omnichannel
This chapter and lecture indicate that customers gather purchase information from which of the following processes: [Check all that apply]
-pass along -search -experience
This chapter will examine strategy planning for: [Check all that apply]
-retailers -wholesalers
Which of the following are true about retailing on the Internet? [Check all that apply]
-retailing on the internet is growing rapidly -retailing on the internet can provide consumers with a broad array of products info -retailing on the internet has lower operating costs and sometimes to lower prices
Which of the following topics will Chapter 16 cover: [Check all that apply]
-social media -publicity -earned media -owned media
Which of the following promotion methods are more likely to be used when the goal is pulling? [Check all that apply]
-social media -sales promo
Which of the learning objectives presented in Chapter 5 does the lecturer suggest are most important? [Check all that apply]
-understand how psychological variables affect an individual's buying behavior -explain the process by which consumers make buying decisions -understand important new terms
Chapter 18 covers which of the following topic? [Check all that apply]
-using margin analysis for price setting -break even analysis -pricing markups
Which of the following questions will Chapter 16 answer: [Check all that apply]
-what is the difference between paid media, owned media, and earned media? -how can marketing managers use social media as part of the promo blend? -what are the advantages of each of earned, owned, and paid media -what does it mean when a message goes "viral"
Sales promotion may be aimed at: [Check all that apply]
-wholesalers -a company's own sales force -consumers -retailers
Spruce Pine Mfg. Co. has total fixed costs of $300,000 a year. The owner estimates that average variable costs for its product will be about $30 next year. The selling price to wholesalers will be $50. The break-even point is
15,000 units
A retailer buys a particular product for $6. To make a profit, the retailer adds $3 to cover operating expenses and provide a profit. The percentage markup on the $9 selling price is.
33.33%
The marketing management process is the process of
All the above
Trademarks...
All the above
________ refers to a commitment to constantly make things better one step at a time.
Continuous improvement
For Dollar General, its strengths include:
Dollar General's low-cost operations
________ require minor changes in customer behavior.
Dynamically continuous innovation
Electronic Arts (EA) wanted to determine whether a new web page might increase sales. So it sent one group of customers to version A of a web page and another group of customers to an alternative (version b) of the page. EA then measured which group of customers purchased more often. This "A/B Testing" is an example of a(n): radio_button_unchecked focus group. radio_button_checked experiment.
Experiment
Estimating what price consumers are willing to pay for a product and assessing whether the firm can make a profit selling at that price is an example of a production activity.
False
Which of the following is a condition favorable to successful branding?
Favorable shelf locations or display spaces are available in stores
In marketing, business and organizational customers are distinct from
Final consumers
Taco Bell, SweeTango apples, and Dorito's chips might all compete in the same:
Generic market
Which of the following is an example of a Price decision for a brick and mortar retailer? [Check all that apply]
How often to run sales
In the General Electric Strategic Planning Grid, what two dimensions used to evaluate opportunities?
Industry attractiveness and business strengths
__________ means selling the product through all responsible and suitable wholesalers and retailers who will stock and/or sell the product.
Intensive distribution
A movie theater runs a film clip that shows pictures of candy, popcorn, and soft drinks prior to running the featured movie (cues). The intent is to get theater patrons to respond and make purchases at the concession stand in the theater lobby. This process is an example of which of the following behavioral influences on buying behavior?
Learning
Roberto went to a grocery store to buy his favorite brand of soft drink; however, the store was temporarily out of that brand, so he looked over the other familiar brands and decided to try one that is well-advertised. This case illustrates:
Limited problem solving
__________ focuses on the changes in total revenue and cost from selling one more unit.
Marginal analysis
A ________ is a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services.
Market
Which stage of stage of the product life cycle characterized by informative promotion?
Market introduction
There are basically two methods for collecting primary data, these are:
Observing and questioning
Which of the following is true of the role of smartphones and online advertising?
advertisers should have mobile compatible versions of their ads as this will help them access customers anytime and anywhere
For Dollar General, the camo flip-flips it sells are an example of:
Product
In the 1990s, DVDs replaced audiocassettes and floppy disks as the storage media of choice for music and computers. At which stage of the product life cycle is the DVD today?
Sales decline
________ is the managerial process of developing and maintaining a match between an organization's resources and its market opportunities.
Strategic (management) Planning
For Dollar General, rural customers are its:
Target Market
True or false. Chapter 3 includes a look at the role of a company's objectives in marketing strategy planning.
True
Which of the following questions will be answered in Chapter 1? [check all that apply]
What is the marketing concept and why should I care? Why does marketing matter to the non-marketing major?
The WheelMate app helps customers find wheelchair friendly restrooms. The app was created by Coloplast, one of the world's largest suppliers of urinary catheters, to help customers. This is an example of:
a branded experience
An attitude is:
a person's point of view about something
Which of the following is "something of value" that might be offered to final consumers as part of the price equation?
a warranty
Following the innovation terminology used in the lecture and the textbook, Diamond Shreddies would best be described as a _________.
continuous innovation
___ is the difference between the quantity of products it is economical for a producer to produce and the quantity final consumers want.
discrepancy of quantity
Wes Douglas bought a new car and was a bit uncertain about whether or not he had done the right thing. Two days after he purchased it, he decided to take it back to the dealer for installation of some additional optional equipment. When Wes returned to the dealership to pick up the car after the installation, the salesman who sold Wes the car said, "You know, in the last two hours three different customers told me how much they liked the looks of your new car. One of them even wanted to know if it was for sale!" This attempt by the salesman to confirm the wisdom of Wes purchase decision seems to be aimed at reducing Wes's:
dissonance
If a waiter or waitress at Jack's Bar and Grill thinks it makes sense, they are allowed to give customers a free drink without checking with management. This is an example of:
empowerment
Sandra, one of Mallory's friends, told Mallory how much she enjoys Athena Greek Yogurt. Mallory had never even tried Greek Yogurt, much less the Athena brand. The next time Mallory was at the grocery store, she looked at an Athena Greek Yogurt nutrition label to figure out the ingredients. What stage in the adoption process has Mallory reached?
evaluation
Among the social media platforms shown below, which one is used by the largest percentage of the U.S. population?
When Lay's Potato Chips are sold through many competing grocery and conevnience stores, this is an example of:
multichannel distribution
When an advertisement promotes an offer is only available for a limited time, the job the ad is trying to do is most likely:
obtain action
Shari is a marketing manager for Yellow Dress, an online retailer of women's clothing. Shari works on website's home page, its Facebook and Instagram, and also an email newsletter sent out to customers on a monthly basis. Shari works on Yellow Dress's:
owned media
_____refers to how customers think about proposed or present products in a market.
positioning
In this video, we saw how Mountain Dew developed a ________ to guide marketing mix decisions.
positioning statement
When the latest Marvel movie was introduced, tickets cost about $8 each. After a few months, that same movie could be watched at the discount theater for $4 per ticket. A year later, the movie could be streamed over Amazon for $2. What pricing policy was Marvel using in its initial price strategy?
skimming price