Bcor 350 Exam 3

What is a horizontal marketing system?

A channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity

What is a retailer cooperative?

A group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts

What is the definition of personal selling?

A personal presentation by the firm's sales force for the purpose of making sales and building customer relationships

What is a pull strategy?

A promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product

A marketing channel is best defined as __________.

A set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user

Which of the following is a vertical marketing system that coordinates successive stages of production and distribution through the size and power of one of the parties?

Administered VMS

__________ is any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor.

Advertising

Which of the following describes retailing?

All the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use

__________ is the strategy by which the company accomplishes its advertising goals, and consists of two major elements: creating advertising messages and selecting advertising media.

An advertising strategy

What is a third-party logistics provider?

An independent logistics provider that performs any or all of the functions required to get a client's product to market

Which of the following describes public relations?

Building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and event

Which term refers to a layer of intermediaries that performs some of the work in bringing the product and its ownership closer to the final buyer?

Channel level

Which of the following is most relevant to the place decision?

Choosing locations that are accessible to the target market in areas that are consistent with the retailer's positioning

Which budgeting method sets the promotion budget to match competitors' outlays?

Competitive-parity method

Which of the following is a small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods?

Convenience store

Which of the following refers to two or more outlets that are commonly owned and controlled?

Corporate chain

Which of the following describes the function of press releases?

Creating and placing newsworthy information in the media to attract attention to a person, product, or service

Which of the following describes the compelling "big idea" that will bring an advertising message strategy to life in a distinctive and memorable way?

Creative concept

__________ is a major part of a product variable, and is an example of a product assortment and services decision.

Deciding on store atmosphere

Which of the following describes the objective-and-task method?

Develops the promotion budget

Which of the following is designed to receive goods from various plants and suppliers, take orders, fill them efficiently, and deliver goods to customers as quickly as possible?

Distribution center

__________ provide an entire line of services: carrying stock, maintaining a sales force, offering credit, making deliveries, and providing management assistance.

Full-service wholesalers

Which of the following describes exclusive distribution?

Giving limited number of dealers the exclusive right to distribute the company's products in their territories

__________ is an advantage of the radio.

Good local acceptance

________ is a limitation of television.

High absolute cost

__________ is an advantage of magazines.

High geographic and demographic selectivity

Which of the following is a channel containing one or more intermediary levels?

Indirect marketing channel

__________ sell to manufacturers rather than to retailers.

Industrial distributors

__________ is the logistics concept that emphasizes teamwork - both inside the company and among all the marketing channel organization - to maximize the performance of the entire distribution system.

Integrated logistics management

Which term refers to carefully integrating and coordinating the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its products?

Integrated marketing communications

Which of the following is an example of a discount store?

Kohls

__________ is a limitation of magazines.

Long ad purchase lead time

__________ is selecting, managing, and motivating individual channel members and evaluating their performance over time.

Marketing channel management

__________ is planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit.

Marketing logistics

Which term refers to the communication channels through which a message is transmitted?

Media

__________ refers to media that carry messages without personal contact or feedback, including major media, atmospheres, and events.

Non-personal communication channel

Which of the following describes a multichannel distribution system?

One in which a single firm sets up two or more marketing channels to reach one or more customer segments

__________ is/are the channels through which two or more people communicate directly with each other, including face to face, on the phone, via mail or e-mail, or even through texting or an Internet chat.

Personal communications channels

Which term refers to the specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships?

Promotion mix

Which term refers to the party getting the message sent by another party?

Receiver

Which of the following describes buzz marketing?

Requires cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities

What is the name for one party sending a message to another party?

Sender

Which of the following describes the percentage-of-sales method?

Sets the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price

Which of the following is a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit?

Shopping center

What is the name for the shopping practice of coming into retail stores to check out merchandise and prices but instead buying from an online-only rival?

Showrooming

Intensive distribution is best defined as __________.

Stocking the product in as many outlets as possible

Which of the following describes media?

The communication channels through which the message moves from the sender to the receiver

Which of the following describes disintermediation?

The cutting out of marketing channel intermediaries by product or service producers or the displacement of traditional resellers by radical new types of intermediaries

Which of the following is a wholesaler-sponsored group of independent retailers engaged in group buying and merchandising?

Voluntary chain

__________ sell primarily to retailers and provide a full range of services.

Wholesale merchants

What is the name for all the activities involved in selling goods and services to those buying for resale and business use?

Wholesaling

A direct marketing channel is __________.

a channel that has no intermediary level

A supermarket is __________.

a large, low cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products

A push strategy is best defined as __________.

a promotion strategy that calls for using the sales force and trade promotion to push the product through channels

Sales promotion is __________.

a short-term incentive to encourage the purchase or sale of a product or service

An advertising objective is __________.

a specific communication task to be accomplished with a specific target audience during a specific period of time

A corporate VMS is __________.

a vertical marketing system that combines successive stages of production and distribution under single ownership

Public relations people prepare written materials to reach and influence their target markets, including __________.

annual reports, brochures, articles, and company newsletters and magazines

Advertising is __________.

any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor

The affordable method sets a promotion budget __________.

at the level management thinks the company can afford

Public relations people prepare __________ including DVDs and online videos.

audiovisual materials

PR departments may perform many functions, including lobbying, which is ________.

building and maintaining relationships with legislators and government officials to influence legislation and regulation

A(n) __________ is a vertical marketing system in which independent firms at different levels of production and distribution join together through contracts.

contractual VMS

A(n) __________ channel consists of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, perhaps even at the expense of profits for the system as a whole.

conventional distribution

A distribution center is __________.

designed to receive goods from various plants and suppliers, take orders, fill them efficiently, and deliver goods to customers as quickly as possible

Direct marketing is best defined as __________.

direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships

An advantage of direct mail as an advertising medium is __________.

high audience selectivity

Supply chain management is __________.

managing upstream and downstream value-added flows of material, final goods, and related information among suppliers, the company, resellers, and final consumers

A(n) __________ is a distribution system in which a single firm sets up two or more marketing channels to reach one or more customer segments.

multichannel distribution system

Flexibility is an advantage of __________.

newspapers

Which budgeting method develops the promotion budget by 1) defining specific promotion objectives, 2) determining the tasks needed to achieve these objectives, and 3) estimating the costs of performing these tasks?

objective-and-task-method

A store that buys at less-than-regular wholesale prices and sells at less than retail is a(n) __________.

off-price retailer

Limited-service wholesalers __________.

offer fewer services than other wholesalers

High repeat exposure is an advantage of __________.

outdoor media

Deciding on either high markups on lower volume or low markups on higher volume is an example of a __________.

price decision

Deciding on store atmosphere is a major part of a product variable, and is an example of a __________.

product assortment and services decision

Advertising, personal selling, sales promotion, public relations, and direct marketing are all considered __________.

promotion decisions

PR departments may perform many functions, including ________, which is building and maintaining national or local community relationships.

public affairs

PR departments may perform many functions, including product publicity, which is ________.

publicizing specific products

A __________ is a group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts.

retailer cooperative

Marketing channel management refers to __________.

selecting, managing, and motivating individual channel members and evaluating their performance over time

Promotion mix is best defined as the __________.

specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships

A superstore is a __________.

store that offers a large amount of routinely purchased food products, nonfood items, and services

The advantage to __________ as a major media type is that it allows for good mass-marketing coverage.

television

The advertising budget is __________.

the dollars and other resources allocated to promote a product or a company

High selectivity is an advantage of __________.

the internet

Decoding refers to __________.

the process by which the receiver assigns meaning to the symbols encoded in the message

Selective distribution is __________.

the use of more than one or fewer than all the intermediaries who are willing to carry the company's products

A corporate chain is best defined as __________.

two or more outlets that are commonly owned and controlled