350 ch 7-14

Réussis tes devoirs et examens dès maintenant avec Quizwiz!

​When, if​ ever, is price discrimination​ allowed?

If the seller can prove that its costs are different when selling to different​ retailers, then it is legal.

Which of the following statements about new product development strategy is​ correct?

Innovation can be very expensive and very risky.

Which of the following statements regarding packaging is​ correct?

Innovative packaging can give a company an advantage over competitors and boost sales.

Which of the following recognizes that improved logistics mandates teamwork across the company and the entire supply​ chain?

Integrated supply chain management

Which type of distribution strategy involves stocking the product in as many outlets as​ possible?

Intensive

Which link in the service profit chain involves employee selection and​ training?

Internal service quality

Which stage of the product life cycle is characterized by negative profits and high costs per​ customer?

Introduction

​________ advertising is used when a company is attempting to build brand preference and prompt customers to purchase now.

Persuasive

Of the​ following, which most closely describes the method by which companies engage and create benefits for their​ customers?

Value delivery network

Total digital advertising spending now makes up​ ________ of all U.S. advertising spending.

over half

Adjusting prices in real time to fit individual customer​ situations, locations, and buying behaviors is known as​ ________ pricing.

personalized

In which of the following does a producer direct marketing activities​ (primarily personal selling and trade​ promotion) toward channel​ members?

A push strategy

​________ is the differential effect that knowing the brand name has on customer response to the product and its marketing.

brand equity

After segmenting and defining their target​ markets, retailers must then decide​ ________.

how they will differentiate and position themselves

In which stage of the new product development process would a company use a​ hackathon?

idea generation

What is the first step of the new product development​ process?

idea generation

Adding a new product line to an existing portfolio means that the line has​ _________.

increased product mix width

Roshika has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she does not know much about​ wine, she will likely use the price of the wines as​ a(n) ________.

indicator of quality

The goal of a push strategy is to​ _________.

induce channel members to carry and promote the product

Groups of​ _________ products consist of materials and​ parts, capital​ items, and supplies and services.

industrial

Correcting false impressions and suggesting new uses for a product are objectives associated with​ ________ advertising.

informative

Buyers look for signals of service​ quality, drawing conclusions about quality from the​ place, people,​ price, equipment, and communications that they can see to address the issue of service​ ________.

intangibility

________ marketing means that service quality depends heavily on the quality of the buyer-seller interaction during the service encounter.

interactive

A service firm must orient and motivate its​ customer-contact employees and supporting service people to work as a team to provide customer satisfaction. This process is known as​ ___________.

internal marketing

The​ Robinson-Patman Act seeks to ensure that sellers offer the same price terms to customers at a given level of trade to prevent​ ___________.

price discrimination

The first step in the selling process is​ ________.

prospecting

​Stories, sponsorships,​ events, and webpages are promotional tools used in​ ________.

public relations

In the context of advertising​ media, ________ is a measure of the percentage of people in the target market who are exposed to an ad campaign during a given period of time.

reach

A direct marketing channel​ ________.

sells directly to the consumer

What potential risk do marketers incur by using richer but more fragmented media and promotional​ mixes?

A communications hodgepodge for consumers

In early​ 2017, fidget​ spinners, dubbed the​ "hula hoop of Gen​ Z," took the market by storm.​ However, it​ wasn't long before sales started to fizzle and teens moved onto the next sensation. Fidget spinners are an example of which of the​ following?

A fad

Which of the following correctly defines a​ product?

A product is anything offered to a market that might satisfy a need or want.

Which of the following statements concerning new products is​ correct?

Modified and improved products are considered new.

Channels often involve​ long-term commitments, and companies have many alternatives. What type of criteria should be used if the company wants to keep the channel flexible so that it can respond to environmental​ changes?

Adaptability criteria

Large retailers like Walmart have enormous channel control due to their size and power. Which type of channel arrangement does this​ represent?

Administered VMS

Which of the following describes layers of intermediaries performing some of the work to bring the product and its ownership closer to the final​ buyer?

Channel levels

The franchise organization is associated with which type of marketing​ system?

Contractual VMS

​________ occurs when a seller states prices or price savings that mislead consumers or are not actually available to consumers.

Deceptive pricing

During which stage of the PLC do firms decide whether to​ maintain, harvest, or drop​ products?

Decline

Working with donors or members of nonprofit organizations to gain financial or volunteer support represents which public relations​ function?

Development

What is the overall goal when retailers choose their product​ assortment?

Differentiate the retailer while matching target​ shoppers' expectations

​________ let retailers personalize offers to individual customers with carefully targeted messages.

Digital promotions

​__________ is perhaps the biggest advantage of social media.

Engagement and social sharing capabilities

Which of the following offers a way to establish different features that appeal to different customer​ segments, lock up more reseller shelf​ space, and capture a larger market​ share?

Multibranding

A salesperson standing behind the counter at a department store is fulfilling which selling​ function?

Order taker

​________ is the step of the new product development process during which a review of the​ sales, costs, and profit projections for a new product is conducted to determine whether the new product is likely to satisfy the​ company's objectives.

business analysis

In which stage of the selling process does the salesperson ask for an​ order?

closing

Marketers now have a richer mix of media and content approaches with consumers being bombarded by many brand messages. The result is that​ __________.

companies fail to integrate their various communication channels

​A(n) ________ is a social online network of individuals who share a tightly focused interest.

nichework

Hotels and​ motels, banks,​ airlines, restaurants,​ colleges, hospitals, movie​ theaters, tennis​ clubs, bowling​ alleys, repair​ services, hair​ salons, and dry cleaners are all examples of​ ________.

service retailers

Focusing the entire marketing process toward turning potential consumers into buyers as they approach the point of sale is known as​ ________.

shopper marketing

Which type of consumer products and services are purchased less​ frequently, with consumers carefully comparing competing products in terms of​ suitability, quality,​ price, and​ style?

shopping products

Consumer digital personas​ ________.

should be developed for each targeted segment

​REI, Williams-Sonoma, and LensCrafters are examples of​ ________, stores that carry a narrow product line with a deep assortment.

specialty stores

When the company has defined its channel​ objectives, it should next identify its major channel alternatives in terms of the types of​ intermediaries, the number of​ intermediaries, and​ __________.

the responsibilities of channel members

Exclusive dealing occurs when​ ________.

the seller requires that exclusive dealers not handle​ competitors' products

To create successful new​ products, a company must​ _______.

understand its​ consumers, markets, and competitors and develop products that deliver superior value to customers

Firms spend​ ________ on personal selling as they do on advertising.

up to three times as much

​A(n) _______ consists of​ producers, wholesalers, and retailers acting as a unified system.

vertical marketing system

Intuit​ Labs, a division of​ Intuit, the accounting and payroll software​ developer, follows a​ "Design for Delight​ (D4D)" development​ philosophy, which states that products should delight customers by providing experiences that exceed expectations. Which new product development approach is Intuit​ using?

​Customer-centered new product development

​Sadie's Restaurant has listened to its customers over the years and is now able to offer the right combination of quality and good service at a fair price. Which pricing strategy is​ Sadie's using?

​Good-value pricing

Sale​ days, early-bird​ savings, and bonus earnings for store​ credit-card holders are promotions employed in which type of pricing​ strategy?

​High-low pricing

​_________ direct(s) its marketing activities​ (primarily advertising, consumer​ promotion, and direct and digital​ media) toward final consumers to induce them to buy the product.

A pull strategy

Which of the following is an example of vertical channel​ conflict?

A retailer complaining about receiving damaged electronics goods from a wholesaler

​________ is any paid form of nonpersonal presentation and promotion of​ ideas, goods, or services by an identified sponsor.

Advertising

At which step in the personal selling process does a salesperson meet the customer for the first​ time?

Approach

​________ involves the use of​ technology-intensive platforms such as the​ internet, mobile networks and​ devices, and social media to engage directly with carefully targeted individual​ consumers, consumer​ communities, and businesses.

Digital marketing

​________ represent an external source of new product ideas for a company.

Distributors

Information can be shared and managed in many​ ways, but most sharing takes place through​ ________.

EDI

​__________ is a retailing technique of carefully orchestrating the​ store's layout and​ displays, background​ music, colors, and smells.

Experiential retailing

​________ are the objectives of business promotions.

Generating business​ leads, stimulating​ purchases, rewarding​ customers, and motivating salespeople

If the company has selected its target market and positioning​ carefully, then its marketing mix​ strategy, including​ price, will be fairly straightforward. Of the​ following, which is NOT one of the common pricing​ objectives?

Grabbing international market share

Cookies that track what consumers do in the digital space and apps that track the​ real-time locations of consumers have raised concerns about which public policy​ issue?

Invasion of privacy

​__________ is perhaps the toughest public policy issue now confronting the direct marketing industry.

Invasion of privacy

Producers of a strong brand sometimes sell it to dealers only if the dealers will take some or all of the rest of its line. This is known as​ full-line forcing. Which of the following statements is true regarding​ full-line forcing?

It may or may not be legal.

The Great Recession of​ 2008-2009 had a profound effect on the economy and consumers. Of the​ following, which represents one of the major consumer trends resulting from the Great​ Recession?

It turned​ free-spending consumers into​ value-seeking ones.

A discount store​ (for example,​ Target, Kohl's, or​ Walmart) sells standard merchandise at lower prices. To do​ this, discount stores accept which of the following two​ conditions?

Lower margins and higher sales volume

Which of the following statements about blogs is​ correct?

Many marketers now use influencer blogs.

Which of the following is a reason that producers use marketing channels and channel​ intermediaries?

Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.

Which of the statements is true regarding media and message​ decisions?

Media and message decisions should be closely coordinated.

Which of the following statements is true about public relations and a​ company's overall integrated marketing communications​ efforts?

PR should be blended smoothly with promotion activities.

​_________ software systems enable companies to coordinate their​ whole-channel marketing efforts.

Partner relationship management

Services cannot be stored for future use. Which characteristic of services does this​ describe?

Perishability

Which of the following uses promotional tools such as​ presentations, trade​ shows, and incentive programs to engage​ customers, make​ sales, and build customer​ relationships?

Personal selling

Of the​ following, which is true about​ pricing?

Price competition is a core element of our​ free-market economy.

​________ is a measure of the sensitivity of demand to changes in price.

Price elasticity

Which of the following is NOT a common trade promotion​ tool?

Price packs

Which of the following statements regarding the important decisions in the development and marketing of individual products is​ correct?

Product attributes that communicate and deliver benefits to the consumer include​ quality, features, and style and design.

​__________ protect consumers from harm and the company from liability by proactively ferreting out potential product problems.

Product stewards

Which of the following BEST describes a​ company's efforts to engage​ customers, persuasively communicate customer​ value, and build customer​ relationships?

Promotion mix

​_________ is used to build and maintain national or local community relationships and is one of the functions of public relations.

Public affairs

Which consumer promotion tool is like​ coupons, except that the price reduction occurs after the purchase rather than at the retail​ outlet?

Rebates

Which of the following describes the activities that play an important role in connecting brands to consumers in the final phases of the buying​ process?

Retailing

​________ are​ short-term incentives to encourage the purchase or sale of a product or service.

Sales promotions

Which of the following statements about personal selling is​ correct?

Salespeople are often the only direct contact with a customer.

Which of the following statements is correct regarding sellers and their use of digital​ marketing?

Sellers have opportunities to engage in​ real-time marketing.

​________ platforms like TaskRabbit support social communities that link service providers and consumers.

Service networking

Which of the following statements is true regarding standardizing products for international​ markets?

Standardization decreases product​ design, manufacturing, and marketing costs.

​_________ entails managing upstream and downstream​ value-added flows of​ materials, final​ goods, and related information among​ suppliers, the​ company, resellers, and final consumers.

Supply chain management

Which of the following reverses the usual process of first designing a new​ product, determining its​ cost, and then​ asking, "Can we sell it for​ that?"

Target costing

Which is an action taken to address consumer privacy​ issues?

The General Data Protection Regulation

For a​ market-skimming pricing strategy to make​ sense, which condition must be present in the​ market?

The costs of producing a smaller volume cannot cancel the advantage of charging more.

Nailit Cosmetics is advertising its newest line of nail​ polishes, made from a​ nontoxic, water-based nail polish with amazing summer colors. Nailit is selling the products in specially designed bottles that make application easier. Which of the following is a core customer value for​ Nailit's line of​ polishes?

The desire to have beautiful nails

Which of the following statements regarding socially responsible product decisions is​ correct?

The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition.

Which of the following statements about sales promotions is​ correct?

The heavy use of sales promotions has resulted in promotion clutter.

Which of the following statements about public relations is​ correct?

The lines between advertising and public relations are becoming more blurred.

Which is an external factor affecting​ pricing?

The nature of the market

Which of the following indicates the length of a​ channel?

The number of intermediary levels in the channel

​Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called​ "high-low pricing." Which of the following correctly describes​ high-low pricing?

The retailer charges higher prices on an everyday​ basis, coupled with frequent sales and other price promotions.

Which of the following statements is true regarding product life cycle​ curves?

The sales of a typical product follow an​ S-shaped curve made up of five stages.

Which of the following is related to antitrust​ concerns?

The size and dominance of companies like​ Amazon, Apple, and Google

Which of the following statements is correct concerning service marketers going​ global?

The trend toward growth of global service companies is expected to continue in the near future.

Which of the following is true regarding​ omni-channel buyers?

They shift easily across online and​ in-store channels.

What is the definition of consumer​ omni-channel navigation​ behavior?

The​ buyer's use of multiple marketing​ channels, both digital and​ nondigital, across stages of the consumer buying decision process

What is the goal of​ advertising?

To help move consumers through the buying process

Which of the following is a pure tangible​ good?

Toothpaste

Which of the following are used to persuade resellers to carry a​ brand, give it shelf​ space, and promote it in​ advertising?

Trade promotions

Which of the following statements about service marketing is​ correct?

Training current employees better and hiring new ones with more skills can increase service productivity.

After recruiting and selecting​ salespeople, what is the next major step in sales force​ management?

Training salespeople

Audi showrooms provide customers with tablets that allow them to select any car model and customize each element. They then put on a headset and earphones to experience the sights and sounds of their customized car. They can move around the outside of the​ car, open the trunk and​ doors, check under the​ hood, and even sit in the​ driver's seat. Which advance in retail technology does this​ exemplify?

Virtual reality

In terms of multimodal​ transportation, the term fishyback refers to the use of which types of​ transportation?

Water and trucks

What event or circumstance has made mobile marketing a must for most​ brands?

Widespread surge in mobile devices and traffic

​__________ is one major objective associated with a​ market-penetration pricing strategy.

Winning large market share

The four elements of a compensation plan for salespeople are​ __________.

a fixed​ amount, a variable​ amount, expenses, and fringe benefits

A company can obtain new products by buying a whole​ company, a​ patent, or a license to produce someone​ else's product through​ _________.

acquisition

Organic search results​ ________.

are selected and ranked by algorithms as most useful and relevant to the search term and searcher

The primary purpose of​ _________ websites is to do more than just sell products or move them closer to a direct purchase.

brand community

Over the past​ decade, in one campaign after​ another, Samsung has run ads smugly depicting iPhone owners as either disappointed in their phones or secretly envious of people using the latest Galaxy model. This is an example of​ ________ advertising.

comparative

​Sherwin-Williams sells its paint and other branded products exclusively through​ company-owned retail stores.​ Sherwin-Williams has established​ a(n) _________.

corporate VMS

The key to good​ omni-channel marketing is​ ________.

creating that critical​ seamless, anywhere,​ anytime, omni-channel shopping experience that​ today's customers seek

Goldtone is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of​ short-listed ideas will be adequately rewarded. In this​ case, Goldtone is using​ ________ to generate new product ideas.

crowdsourcing

Which is the final stage of the product life​ cycle?

decline

The goal of integrated marketing communications is to​ _________.

deliver​ clear, consistent, and compelling messages about the organization and its brands

​Detailed, nuanced, and tangible representations of prototypical consumers to be targeted by the digital marketing campaign are known as​ ________.

digital personas

Personal selling can be more effective than advertising in complex selling situations because it is​ __________.

interpersonal

New product commercialization takes much thought and planning. The first critical step in the commercialization process is​ __________.

introduction timing

Email marketing​ ________.

is an important​ business-to-business tool

Direct mail marketing​ ________.

is still heavily used by most retailers

The three functions of​ __________ include​ identifying, describing, and promoting the product.

labeling

When we see Hello Kitty on​ children's clothing, Disney characters on​ lunchboxes, and SpongeBob SquarePants on breakfast​ cereals, which form of brand sponsorship is being​ used?

licensing

When Doritos comes out with new flavors of its tortilla​ chips, what brand development strategy does it​ employ?

line extension

The retail marketing mix is made up of the product and services​ assortment, price,​ promotion, and​ ________.

location

When a college or university charges more for​ out-of-state students than​ in-state students, it is practicing​ ________ pricing.

location-based

​P&G sales reps are integrated into Customer Business Development​ (CBD) teams. Each CBD team is assigned to a major​ P&G customer, such as​ Walmart, Safeway, or CVS Health.​ P&G has adopted a​ ________ sales force structure.

market

​Geico's website is designed to quickly turn an inquiry into a sale. Geico has designed​ a(n) ________ website.

marketing

The massive shift in how and where people buy calls for​ _________.

massive shifts in how store retailers operate

When a product is in the maturity stage of the​ PLC, the company tries to increase consumption by finding new users and new market segments for its brands. This attempt to increase consumption is known as​ ___________.

modifying the market

Programmatic digital display ad spending now accounts for​ ________ percent of digital display advertising across all digital platforms.

more than 88

Consumers may receive an​ email, supposedly from their bank or credit card​ company, saying that their​ account's security has been compromised. The sender asks consumers to log on to a provided web address and confirm their account and other personal information and then steals this private information. This is a fraudulent practice called​ ________.

phishing

One of the primary advantages of marketing logistics is​ _________.

potentially high cost savings and improved customer satisfaction

When Apple introduced its iPhone​ X, it priced the new product at nearly​ $1,000, considerably higher than competing smart phones. Apple was pursuing​ a(n) __________ new product pricing​ strategy.

premium pricing

One consumer promotion tool is​ _______, which are goods offered either free or at low cost as an incentive to buy a product.

premiums

​Kroger, headquartered in​ Cincinnati, Ohio, is one of the​ nation's largest grocery chains. It owns several brands sold in its​ stores, including Private​ Selection, Heritage​ Farm, and Simple. These brands represent which type of brand​ sponsorship?

private brands

Bath​ & Body Works uses​ _________ pricing when the company offers​ "three-fer" deals on its products​ (such as​ soaps, lotions, and​ moisturizers).

product bundle

The Ford Mustang is offered in several different models. Ford uses​ __________ pricing to determine the price steps between the different models.

product line

When a retailer temporarily prices a few select items below cost to create excitement and pull consumers into the​ store, it is practicing​ ________ pricing.

promotional

A​ ________ has from 50 to more than 100​ stores, including two or more​ full-line department stores.

regional shopping mall

Ad agency Young​ & Rubicam's BrandAsset Valuator measures brand strength along four consumer perception dimensions. Brand​ ________ is defined in terms of how highly consumers feel the brand meets their needs.

relevance

Laws prohibit​ ________, meaning a manufacturer cannot require dealers to charge a specified retail price for its products.

resale price maintenance

Before meeting and greeting a​ buyer, a salesperson should​ ________.

research the buyer to prepare for the meeting

When a company uses more than one but fewer than all of the intermediaries who are willing to carry a​ company's products it is engaging in​ ________ distribution.

selective

When a company lengthens a product line by adding more items beyond its current​ range, it is​ ________.

stretching the line

More than a​ territory, compensation, and​ training, new salespeople need​ ________.

supervision and motivation

Installing an innovation management system to​ collect, review,​ evaluate, and manage new product ideas represents​ a(n) __________ approach to new product development.

systematic

A variation of​ break-even pricing is​ _________, which uses the concept of a​ break-even chart that shows the total cost and total revenue expected at different sales volume levels.

target return pricing

When setting marketing channel​ objectives, companies should state the objective in terms of​ ________.

targeted levels of customer service

When teams acknowledge that a single salesperson​ can't handle all of a large​ customer's needs, they use​ ________ selling to service​ large, complex accounts.

team

During the presentation step in the personal selling​ process, the salesperson should​ ________.

tell the buyer a​ "value story"

The structure decision is simple if the company sells only one product line to one industry with customers in many locations. In that case the company would use a​ ________ sales force structure.

territorial

​Justin, Inc., a​ U.S.-based watch​ manufacturer, sells its products in​ China, Russia,​ France, and India. To manage​ sales, Justin appoints a number of sales representatives to each location. Justin has adopted a​ ________ sales force structure.

territorial

When Dr. Lawncare developed his revolutionary new​ solar-powered lawnmower, he expected that during the growth stage of the product life cycle​ __________.

the company would see rising profits

Product mix width refers to​ ________.

the number of different product lines the company carries

The digital version of​ word-of-mouth marketing that involves creating​ videos, ads, and other marketing content that is so infectious that customers will seek them out or pass them along to their friends is called​ _______.

viral marketing

Which of the following is considered part of an augmented product rather than that of an actual product or core customer​ value?

warranty

To set its sales force​ size, a company can group accounts into different classes by​ size, account​ status, or other factors related to the amount of effort required to maintain the account then determines the number of salespeople needed to call on each class of accounts the desired number of times. This is called the​ ________ approach.

workload

As companies become more​ market-centered, a​ customer-focused sales force​ _________.

works to produce both customer satisfaction and company profit

Which of the following incorporates the advantage of brands operating in different categories with the combined brands creating broader consumer appeal and greater brand​ equity?

​Co-branding

Which budgeting method involves setting a​ company's promotion budget to match the standard outlays for the​ industry?

​Competitive-parity method

Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of​ media?

​Omni-channel marketing

​________ means sending email pitches only to customers who​ "opt in."

​Permission-based email marketing

​It's time for the Super​ Bowl, and the​ end-of-the-aisle displays at the supermarket feature​ chips, dips, and soft drinks. What type of sales promotion tool is​ this?

​Point-of-purchase

​________ pricing is the opposite of free onboard pricing.​ Here, the company charges the same price plus freight to all​ customers, regardless of their location.

​Uniform-delivered

​New, premium movie theaters offer features such as online reserved​ seating, high-backed leather executive chairs with armrests and​ footrests, the latest in digital​ sound, super-wide​ screens, and other amenities for which they charge a higher price. This is an example of which type of​ pricing?

​Value-added pricing

The goal of logistics is to provide a targeted level of service at the least or lowest possible cost. To achieve this​ goal, which of the following are logistical functional​ areas?

​Warehousing, inventory​ management, transportation, and logistics information management

Americans eat some 9 billion chickens a year but not the feet. But thanks to the huge demand in​ China, chicken feet are now a huge profit center. Perdue sells some​ $40 million of the otherwise valueless​ by-product to China annually. This is an example of​ ________ pricing.

​by-product

Nintendo makes little or no profit on its Switch video game consoles.​ However, it hopes to more than make up for thin console margins through sales of Switch video​ games, which yield much higher unit sales and margins. Nintendo is using a strategy of​ ________ pricing.

​captive-product

The benefits of digital marketing for buyers are that they are​ ________.

​easy, convenient, and private

The PLC concept also can be applied to what are known as​ styles, fashions, and fads. A​ ________ is a currently accepted or popular​ ________ in a given field.

​fashion; style

The​ seven-step selling process takes a​ __________ approach to selling. In other​ words, its aim is to help salespeople close a specific sale with a customer.

​transaction-oriented


Ensembles d'études connexes

Chapter 10 High-Risk Labor And Birth

View Set

Chap. 1 Intro to Entrepreneurship

View Set

Accounting Analysis & Control Exam 1

View Set

Life Insurance, Policy Provision, Options & Riders

View Set

Chapter 13 questions Data Structures

View Set

Chapter 14 Stress, Lifestyle, and Health Quiz

View Set

Chapter 29: The Child With Cancer

View Set