FINAL MARK 3336 - Mid term 1 & 2

The decisions about reach, frequency, and impact of an ad fall into the category of _____ decisions.

Media

A _____ documents an organizations purpose- what it wants to accomplish in the larger environment.

Mission statement

In a(n) _______ situation, the buyer wants to revise the product specifications, prices, terms, or suppliers.

Modified rebuy

_______ shows consumer perceptions of a company's brands versus competing products on important buying dimensions.

Perceptual positioning maps

After selecting a sweater on the Land's End website, Kelly was asked to fill in details.... Kelly then checked the box that was next to the following statement: "Yes, I would like to receive weekly promotional info from the land end online." Which of the following practices is evident in this scenario?

Permission Based E-Mail Marketing

Which of the following is true with regards to personal selling?

Personal selling entails personal presentations by a firm's sales and building a customer relationship

Encouraging customers to switch is most likely the objective of _____ advertising.

Persuasive

SEO, also known as search engine optimization, refers to those efforts that seek to?

Place a website/web page higher in the search engine result

Why are customers often considered the most important of new-product ideas?

The company can analyze customer questions and complaints to find new products that better solve consumer problems

______ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Marketing research

Sigma Inc., a software firm based in California, reordered 50 printers from the designated provider without any modifications. This is an example of

A straight rebuy

Market segments that can be effectively reached and served are _____.

Accessible

Plasticine palace supplies its products exclusively to arts and crafts, a chain of stationery stores across the country. The chain then makes the makes the plasticine available to end - consumers. This is an example of _____.

An indirect marketing channel

Which of the following is true about business purchases?

Business purchases involve more professional purchasing effort than consumer purchases

______ are industrial products.

Capital items

Almost all major purchases result in _______, or discomfort caused by postpurchase conflict.

Cognitive dissonance

Which of the following is an internal source for new-product ideas?

Company executives

To the extent that a company can differentiate and position itself as providing superior customer value, it gains ______.

Competitive advantage

The marketing department of a reputed firm wants to improve strategic decision making, track the actions of other players in the market, and provide early warning of opportunities and threats. Which of the following would help the firm achieve its objectives?

Competitive marketing intelligence

Which term best describes web sites such as wikipedia.com and espn.com?

Content Site

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

Convenience products

The main block of text in a print ad is referred to as the ______.

Copy

Which of the following processes does value-based pricing reverse?

Cost-based pricing

Brad works with a reputed retailer and leads a team that collects market information from a wide variety of sources ranging from marketing research studies to monitoring online conversations where consumers discuss Brad's firm or its products. Brad's team uses this information to arrive at a better understanding of consumer behavior and their buying motives. This, in turn, allows Brad's firm to successfully generate more value for consumers. Brad leads the _____ team.

Customer insights

Which of the following is the first step in strategic planning?

Defining the organizational mission

Which of the following is the first step in the marketing research process?

Defining the problem and objectives of the study

____ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Demographic

Demand for outboard motors depends on consumers purchasing fishing boats. This is an example of _______ demand.

Derived

In the AIDA model, the D stands for.

Desire

_____ involves actually distinguishing the firm's marking offering to create superior customer value.

Differentiation

In a(n) ____ channel, the same member both produces and distributes a product or service to consumers.

Direct

____ involves sending an offer, announcement, reminder, or other item to a person at a physical address.

Direct E-mail Marketing

Which major promotion category makes use of the catalogs, telephone marketing, kiosks, and the internet?

Direct Marketing

Amazon.com, eBay, and Geico approach customers via web sites or mobile apps. This is an example of ______.

Direct marketing

_____ occurs when the product or service produces cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones.

Disintermediation

Market segmentation can be best described as the process of _______.

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs

Porsche is a German automobile manufacturer that competes against BMW and Audi, but only in the Sports ear and SUV segments of the automobile market. Porsche utilizes a(n) ____ strategy.

Focus

A company sent a trained observer to watch and interact with consumers in their natural environments in order to gain deeper insights on consumer needs. This is an example of _____.

Ethnographic research

Retailers such as Costco and Wal-Mart charge a constant, daily low price with few or no temporary price discounts. This is an example of _____.

Everyday low pricing

Ocean spray sells its air fresheners only through Ray's retail chain. This is an example of _____ distribution.

Exclusive

Kinger burgers came out with a new hamburger and, before including it into its main menu, released it in two different cities with two different prices. The marketers at Kinger Burgers ten analyzed the different levels of purchase made at these two different places, planning to use the information to help them set a nationwide price for the new offering. This is an example of

Experimental research

In ___ research, the objective is to gather preliminary information that will help define the problem & suggest hypotheses.

Exploratory

The business marketer normally deals with _____ than the consumer marketer does.

Far fewer but far larger buyers

The number of times an average person in the target market is exposed to a message is known as the _______ of the message.

Frequency

A(n) ______ controls the flow of information to others in the buying center.

Gatekeeper

"Many companies today are localizing their products, advertising, promotion & sales efforts to fit the needs of individual regions, cities, and neighborhoods" This is an example of _________.

Geographic segmentation

Which of the following is a common reason for new product failure?

Good customer database

Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits?

Growth

Which of the following consumer buying behaviors is related to conditions of low-consumer involvement and little significant brand difference?

Habitual buying behavior

Which of the following is a common reason for new product failure?

Incorrect estimation of the market size

If demand hardly changes with a small change in price, the demand is _____.

Inelastic

The Pure Drug Company produces insulin, a product with very stable demand. Even though the price changed several times in the past two years, the demand for Pure Drug's insulin remained relatively unaffected. In this instance, the demand for insulin is representative of _____ demand.

Inelastic

Today several companies are adopting the concept of _______, which carefully combines and coordinates the company's many communication channels to deliver a clear, consistent, and compelling message about the organization and its brands.

Integrated marketing communications

____ plays an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities.

Intermediaries

Which of the following is an advantage of using an internal database?

Internal databases can be accessed more quickly and cheaply than other information sources

Cost-plus pricing _____.

Involves adding a standard markup for profit.

A segment is less attractive if _______.

It already contains many strong and aggressive competitors

Which of the following is true about secondary data?

It can be obtained more quickly at a lower cost than primary data

Which of the following is true with regard to the product/expansion grid (also called the Ansoff Grid)?

It is a useful device for identifying growth opportunities. Which of the following is true with regard to the product/expansion grid (also called the Ansoff Grid)?

_______ is a person's pattern of living as expressed in his/her psychographics, and it includes the individual's activities, interests, and opinions.

Lifestyle

A company that pursues _______ will react much more strongly to a competitor cost reducing manufacturing breakthrough than to the same competitor's advertising increase.

Low-product leadership

Lark Inc., and American electronics company, is currently reviewing new geographical markets to sell its highly popular LED televisions. By 2020, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ______ strategy.

Market development

______ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mix

Market segmentation

When a company sets a high value price for a new product with intentions to reduce the price in the future, it is using the ______ pricing strategy.

Market skimming

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ______.

Market targeting

________ consists of evaluating each market segments attractiveness and selecting one or more market segments to enter.

Market targeting

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

Marketing Channel

Product improvements, product modifications, and original products can all be classified as _____.

New Products

P&G introduced Duncan Hines ready-to-spread frosting in a small geographic area. When general mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This illustrates _____.

One of the problems with test marketing

Which of the following is the fastest growing form of direct-marketing?

Online Marketing

The boom in Internet marketing has created a new set of social and ethical issues. Critics worry most about ______.

Online privacy issues

_____ are the communities over the internet where people congregate, socialize, and exchange views and information.

Online social networks

The 4 P's are central to the marketing activity. Which of the following is NOT one of the 4P's?

Packaging

Springfield, a convenience store, has recently begun redesign and restock its store to offer a more upscale environment with products such as house wines and fresh foods. This info indicates that Springfield has most likely changed it's _____.

Positioning

____ 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

"To busy multitaskers who need help remembering things, Evernote is the only digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your computer, phone, tablet, and the web." This is an example of a(n)___.

Positioning statement

Daizy's is a shop which carries only plus-size clothing. According to this info, daizy's differentially itself from its competitors based on _______.

Product Assortments

Which refers to the course that a product sales and profits take over its lifetime?

Product life-cycle

Coca-Cola prominently featured on episodes of American Idol are an example of _____.

Product placement

A _____ refers to the way a product is defined by consumers on important attributes --- the place the product occupies in consumer's minds relative to competing products.

Product position

Consumer products refer to ______.

Products and services bought by final consumers for personal consumption

Which of the following is true with regard to products?

Products include services, events, persons, places, organizations, ideas, or a mixture of these.

A company's total marketing communications mix consists of a special blend of advertising, sale promotion, public relations, personal selling, and direct marketing tools that the company uses to communicate customer value and build customer relationships. Which of the following terms best describes the communication mix?

Promotion mix

______ segmentation divides buyers into different segments based on social class, lifestyle, or personality characteristics.

Psychographic

_______ are low-share business units in high-growth markets that require a lot of cash to hold their share.

Question marks

______ is a relatable of the % of the people in the target market who are exposed to the act campaign during given period of time.

Reach

An advertising objective is classified by its primary purpose, which is to inform, persuade, or ______.

Remind

Keeping the brand in a customer's mind during off-seasons is most likely a goal of ____ advertising.

Reminder

Which of the following would most likely improve coordination between marketing and sales?

Salespeople should participate in marketing planning sessions by sharing first hand customer knowledge

SERP is an acronym that stands for...

Search Engine Results Page

According to Maslow's hierarchy of needs, which of the following is the LEAST pressing need?

Self-actualization needs

Which term refers to looking at merchandise at a traditional store and then purchasing the merchandise online?

Showrooming

Advertising campaigns involving issues ranging from health care, education, and environmental sustainability to human rights & personal safety can be classified under ______.

Social marketing

A market segment that is large or profitable enough to serve is _______.

Substantial

Which of the following is most likely an objective of informative advertising?

Suggest new uses for a product

Which of the following is true with regard to cash cows?

They can be used to help finance the company's question marks and stars

Which of the following is the objective of causal research?

To test hypotheses about cause-and-effect relationships

Which of the following statements is true regarding today's marketing communications?

Today's consumers are better informed about products and services

Which of the following brands most likely requires heavy advertising in order to be set apart from similar products?

Undifferentiated brands

Which of the following is most likely circumstances for a company to decide to do little or no test marketing?

When the cost of developing and introducing the products are low