Intro to Business Set 2

In the year 1938, Popoud, a chocolate manufacturing company, was finding it difficult to trade its products because people were reluctant to spend money on nonessential goods. However, the company continued to manufacture chocolates in large quantities. In the context of the evolution of marketing, which of the following eras does this scenario most likely refer to?

The selling era

the following is the ability of goods and services ro satisfy a consumer wants

Utility

The CEO of a software company has a meeting with the product design team to discuss a new software that the company is planning to develop. During the meeting, the CEO discards a few suggestions as executing them would be a costly affair for the company. Given the scenario, the company is most likely in the stage of the new product development process.

idea screening

Dominic is the owner of Della Robotics, a business that deals in industrial robots that are mostly sold to the manufacturing industry. The strong point of Dominic's business is that he personally contacts his buyers and takes part in the negotiation process. Moreover, his company customizes the robots. In this scenario, the product manufactured by Della Robotics falls under the category of

installations

In the context of business product categories, the marketing of emphasizes personal selling and customization.

installations

Anvis Asset Management Fund is a mutual fund company that sells securities to investors and uses the money to purchase bonds and corporate stocks. Anvis Asset Management Fund is a(n) A No

institutional investor

Futures Life Insurance is an insurance company in South Africa. The insurance company uses its large pool of financial capital, which it accumulates by collecting premiums from its policyholders, to purchase corporate stocks of different multinational companies. In this scenario, Futures Life Insurance is a(n)

institutional investor

Allied Corp. is redesigning its path through which its products reach its consumers. The path involves producers, wholesalers, retailers, and customers. In the given scenario, it can be said that Allied Corp. is redesigning its

channel of distribution

A whole range of public and private organizations market beliefs that are meant to change how people think or act. This is referred to as

idea marketing

In the context of consumer product categories, most people perceive as being so important that they are unwilling to accept substitutes.

C. specialty products

Which of the following statements is true of customer relationship management (CRM)?

CRM works best when marketers combine marketing communication with one-on-one personalization.

Hansel owns and runs a fruit juice manufacturing company. He decides that the company will sell packaged fruit juices through wholesalers and retailers. In this scenario, which of the following distribution strategies is Hansel planning to use?

Channel intermediaries

are distribution organizations that facilitate the movement of products from the producer to the consumer.

Channel intermediaries

Which of the following are the elements of distribution strategy?

Channels of distribution and physical distribution

In the context of consumer promotion tools, entice consumers with cash-back offers and act as purchase motivators for higher-priced items.

rebates

Odd pricing refers to the practice of:

Ending prices in numbers below even dollars and cents

Norldenp Open is a tennis championship that is conducted every. By the end of spring, various companies that sponsor the championship start mentioning the championship in their product labels and in their advertisements. Which of the following marketing strategies does this scenario best illustrate?

Event marketing

In the context of physical distribution, which of the following is a key management decision regarding materials handling?

How can we best balance efficiency with effectiveness?

Devoinser is a home products company that sells plastic household supplies. In their print and television advertisements, they emphasize this line: "We use only recycled plastic to make our products. Recycle, reuse, and reinvent!" Which of the following marketing strategies does this scenario best illustrate?

Idea marketing

Which of the following business product categories refer to large capital purchases made by a company that are designed for a long productive life?

Installations

involves using all the media platforms to promote a product.

Integrated marketing communication

Which of the following statements best defines a channel of distribution?

It is the network of organizations and processes that links producers to consumers

Which of the following statements is true of a supermarket?

It offers a wide range of food products, plus limited nonfood items.

Which of the following is true of the Securities Act of 1933?

It prohibited misrepresentation in the sale of newly issued stocks and bonds.

Which of the following statements is true of a goods and services spectrum?

It provides a tool for analyzing the relationship between goods and services.

Which of the following statements is true of new product development?

It requires an understanding of the customer base and involves creativity.

Which of the following is a key benefit of penetration pricing?

It tends to discourage competitors.

In the context of the marketing mix, which of the following statements is true of a distribution strategy?

Its key decisions include shipping, warehousing, and selling outlets.

is an order to a broker to buy a specific stock only it its price is belowa certain level, ar to sell a specific stock only if its price is above a certain level.

Limit order

Peter is starting a new business. He selects his target market by identifying similar characteristics, attributes, and behaviors of customers and then grouping them accordingly. Which of the following strategies has Peter employed?

Market segmentation

Monitoring and predicting consumer behavior is an objective of

Marketing research

Dividing potential customers into groups of similar people is known as

Marketing segmentation

Which of the following statements is true of independent wholesalers?

Merchant wholesalers comprise about 80 percent of all wholesalers

The characteristics of a product that a marketer offers are known as

Product features

Identify a true statement about loss-leader pricing.

Reatailers place a handful of items that are priced temporarily below cost af the back of their store

Which of the following is a key marketing strategy of the growth phase of a product life cycle?

Reinforcing brand positioning

paid to purchase Samuel assists his clients in investing in the stock market. He not only acts as an agent by buying and selling corporate stocks and bonds on behalf of them, but also provides them with services like financial consultation and market research for a fee. In this scenario, Samuel plays the role of afo)

Security broker

Which of the following is an example of survey research?

Online questionaires

Which of the following modes of transportation provides the highest on-time dependability?

Pipelines

Question 30 Bryce Diego, the president of the developing country of Glompacia, travels to various developed countries to meet the heads of multinational business corporations. He presents before them the factors that make Glompacia, which is also a tax haven, one of the easiest countries to do business in. Which of the following marketing strategies does this scenario best illustrate?

Place marketing

The advertisements of bus tour operator companies in the city of Lubtilace increase the popularity of the city's tourist attractions. Bursilopp, a company that operates tourist buses across the city, shows the city's major tourist spots in its television advertisements. Which of the following marketing strategies does this scenario best illustrate?

Place marketing

equipment Jessica, a business tycoon, always buys her jewelry from a retailer. She has been a loyal customer, and she does not trust other brands. This scenario exemplifies the purchase of

Specialty products

Glen wants to find the stock prices of some of the large actively traded companies listed on the Tokyo Stock Exchange. Which of the following stock indices should Glen follow?

The Nikkei 225

Which of the following statements is true of consumer markets versus business markets?

The distinction between these two market categories lies in how the buyer will use the product.

Which of the following is true of securities brokers?

They act as agents for investors whho want to buy or sell financial securities.

In the context of choosing, a broker, which of the following statements is true of robo advisors?

They help people automatically set and track their financial goals.

Institutional investors:

amass huge pools of financial capital from various sources.

is the description of how people act when they are buying, using, and discarding goods and services for their own personal consumption.

Consumer behavior

Arnoury, a car service station, takes feedback from clients after servicing their cars, which gives the clients a sense of importance. Arnoury's management also ensures rectification and improvement of its services based on clients' feedback. Which of the following marketing strategies does this scenario best illustrate?

Customer relationship management

Keitras is a women's apparel store that specializes in winter clothing. It targets university students aged 20-25 with its trendy collection of sweaters, sweatshirts, stockings, and stoles. In the context of consumer market segmentation, which of the following types of market segmentation does Keitras most likely follow?

Demographic segmentation

Ella runs a handicrafts shop named Pentcrafto, where she sells home décor products made from recycled paper. In the context of marketing, which of following utilities does Pentcrafto's products most likely provide?

Form utility

Jonathan is a common stockholder in an information technology firm. Owing to his right to a residual claim on assets, he is entitled to receive a share in the proceeds of the company that is proportionate to his ownership if the company:

Goes out of business

In the context of limited-service merchant wholesalers, which of the following statements is true of cash and carry wholesalers?

They require customers to make the trip to the wholesaler themselves and cart their own products back to their stores.

Which of the following is a difference between credit unions and commercial banks?

Unlike commercial banks, credit unions are not-for-profit organizations.

Which of the following statements is true of credit unions?

c. They are open to individuals who belong to a specific field of membership.

In the context of marketing research data, an example of primary data is

a focus group

In the context of management, which of the following statements is true of controlling?

a. It refers to monitoring performance and making adjustments as needed.

Less savvy marketers frequently fall into one of two traps-overpromising or underpromising-when trying to

achieve customer satisfaction

Plezion Corp. is an independent distributor that connects furniture sellers to its buyers. The company distributes furniture made of plastic, wood, and carbon fiber on a large scale. The company does not take legal ownership of the goods it distributes. In this scenario, it can be said that Plezion Corp. is a(n)

agent

A fitness equipment manufacturing company initiates its new product development process. The management, along with the product design team of the company, makes estimated cost budgets for each of the potential products. This is an important part of the process as it helps the management in assessing whether the company can afford the new product. In the context of the given scenario, the company is most likely in the stage of the new product development process.

analysis

The purpose of the stage of the new product development process of a company is to estimate costs and forecast sales for each idea to get a sense of the potential profit and of how the product might fit within the company's resources.

analysis

The purpose of a positioning statement of a company is to:

articulate how the company would like the target market to envision a product relative to the competition.

Saffexo, a company that manufactures sports goods, hikes the prices of its entire range of athletic shoes. However, the company does not experience a fall in the sales of its shoes following the hike as the consumers continue to buy them. The information given in the scenario indicates that Saffexo has a good

brand equity

Jack receives a considerable sum of money by selling his property. He decides to invest this sum in a diversified set of securities. He plans to invest in these securities and retain them for a long time. He is optimistic that eventually the overall market conditions will rise, thus giving him a high return sometime in the future. Jack is using the investment strategy.

buy-and-hold

Geraldo is a vice president at Magnolis Inc. He, along with a few other individuals in his rank, is responsible for setting the overall direction of his company. He establishes a clear vision for the company and the milestones that the company needs to achieve over a period of time. In this scenario, Geraldo belongs to the management in the management hierarchy.

c. top

Rosy's Sweet Treats is a small-scale restaurant that gets its supplies from Widget Suppliers that takes legal possession of the goods it distributes. The employees of Rosy's Sweet Treats make a monthly trip to Widget Suppliers to cart their own products back to the restaurant because Rosy's Sweet Treats is too small to merit in-person sales calls from customer care reps. In this scenario, Widget Suppliers is a(n)

cash and carry wholesaler

Brendon Steels, a steel manufacturer, sells its steel rods and steel slabs to Widget Corp. that, in turn, sells them to various construction companies. In this scenario, Widget Corp. is a

channel intermediary

Corporations that get into serious financial difficulties sometimes:

default on their bonds.

In the context of the new product development process, the stage leads to detailed descriptions of each concept with specific product features.

development

Elvish Toys is a small-scale toy manufacturer. The company sells its products to customers at its own retail shops. In this scenario, it is evident that Elvish Toys sells its products to its customers through a

direct channel

Dividends of a company are:

distribution of earnings that are paid to a corporation's stockholders.

Ziffcorp, a laptop manufacturing company, is working on a strategy to deliver its laptops to the students of a university before their new term begins. It is evident that Ziffcorp is working on its

distribution strategy

Penetration pricing is a strategy where:

each individual sale typically yields a tiny profit.

In the context of prestige pricing, the idea behind skimming pricing is to:

entice price-insensitive consumers to buy high when a product first enters the market.

Kiddiecon, a company that manufactures stationery products for children, signs a contract with an animation studio to use one of its popular carpon characters as a design on its school bags. Kiddiecon's contract with the animation studio is an example of

licensing

Baylaine is a company that sells affordable, low-end cell phones. Baylaine's customers can register product or service complaints with the company through emails; the company's customer support team replies to customer queries and complaints within five hours of the receipt of an email. In the context of customer relationship management, Baylaine most likely establishes with its customers.

limited relationships

In the context of marketing strategies and tactics, sports, politics, and art dominate the category of

people marketing

The difference between the prices at which securities dealers buy and sell a security is called A No

the spread

Lynk Corp. drives perishable goods, such as eggs, bread, and muffins to small grocery stores. In addition to taking legal title of the goods it distributes, Lynk Corp. also checks the stock and suggests reorder quantities to the grocery stores. It is evident that Lynk Corp. is a(n)

truck jobber

Determine the fixed cost of a pencil manufacturing company per year if its breakeven point is 300,000 packets of pencils, selling price of each packet of pencil is $3, and the cost of equipment and labor to manufacture one packet of pencil is $1.

$600,000

The physical good or delivered service that provides a core benefit is called the

Actual product

is paid, nonpersonal communication, designed to influence a target audience with regard to a product, service, organization, or idea.

Advertising

A _______ is the most common depository institution.

commercial bank

11 Kenneth is very particular about his investment decisions and likes to perform an extensive market research before making any major investment. He, however, does not have the time and expertise to conduct market research. To deal with this situation, he should hire a(n)

securities broker

Mr. Troy wants to buy stocks of a local retail company. He needs help with market research and requires some investing advice, as well as someone to do the trading for him. Mr. Troy should contact a(n)

securities broker

Andy invests in Orelon Corp., a plastic manufacturing company. As a stockholder, he owns a part of the company and he holds the right to vote on company issues. However, he is entitled to dividends only when the company's board of directors decides to. According to the company policies, if Orelon Corp. faces dissolution in the future, Andy will receive his assets only after the company satisfies the claim of the preferred stockholders. Based on the given information, it can be concluded that Andy is a

common stockholder

Aubosh, a car manufacturing company, is in a contract with Bolivin Tires. Under this contract, Aubosh purchases tires from Bolivin Tires for all its mid-range cars. In this scenario, Aubosh buys from Bolivin Tires.

component parts and processed materials

Lina, along with ten of her colleagues, starts a financial cooperative to financially assist each other. The members pool their savings in the cooperative, and they can also take loans from it on a low interest rate. Members of the cooperative benefit from higher returns on savings and lower rates on loans. In this scenario, the cooperative started by Lina and her colleagues exemplifies ____.

credit union

In the context of business product categories, the marketing of business services:

focuses on quality and relationships.

Amforted is a company that provides various multinational corporations with housekeeping staff on contract basis. Each relationship manager is allotted one client to work with until the contract period is over. In the context of customer relationship management, Amforted most likely establishes with its customers.

full partnerships

In the context of social responsibility, environmentally friendly fashion, such as clothing made of organic cotton, is an example of

green marketing

Davis frequently trades on the NASDAQ exchange. He has made a commitment to constantly buy and sell the stocks of Ossani & Gautier, an automobile manufacturing company that is listed on the exchange. He competes for customer order flow by quoting the bid price and the ask price for a number of shares. The information given in the scenario indicates that Davis is a(n) A

market maker

Eula, a company that manufactures soda, offers its latest products at very low prices. Eula's strategy is based on the assumption that more customers will be willing to buy its products if they are offered at lower prices. Eula has adopted this strategy to attract a larger customer base and increase its sales volume even though it will only gain a small profit on each individual sale. In this scenario, Eula has implemented the _ strategy.

penetration pricing

Ziffcorp, an electronic goods manufacturer, recently launched a new gaming console at a very low price. The company aims to capture as much of the market as possible by offering rock-bottom prices. It aims to compensate for the loss by increasing the sales volume. In the context of pricing strategies, it is evident that Ziffcorp has adopted the strategy of

penetration pricing

In an effort to expand its business, music retailer Musow offers DVD rentals online. In order to understand the trends in consumer interest, Musow has decided to evaluate data of the hyperlinks that customers click when they visit its website. This is an example of how a company can obtain

primary data

A health-drink company faces a lot of flak for misquoting the nutritional facts on its product packages. Once it clears the charges, the company hires a firm that helps it in reviving a positive image in the media as well as the broader community. The firm's primary task is to constantly communicate with the media personnel and make sure that the media runs unpaid stories that create a favorable impression about the company. This scenario exemplifies the use of:

public relations.

Helmert Federal, a financial institution, acquires its funds primarily from the deposits of its customers, and then uses these funds to make mortgage loans for individuals interested in purchasing real estate properties. Helmert Federal is a(n)

savings and loan association

Vincent is actively engaged in the stock market and frequently buys and sells stocks for personal profits. With a good insight about the market trends, Vincent is mostly able to sell his stocks at higher prices than the prices at which he purchases them. Vincent is a(n)

securities dealer

In the context of consumer product categories, both producers and retailers are apt to promote but to a highly targeted audience.

specialty products

HealthAssure Corp. manufactures Nicoloss, a nicotine-free supplement that helps people overcome their cigarette addiction. To promote its product, the company puts up kiosks inside a college campus. However, the product gets only a mild response from the students. Consequently, the company resorts to more active and aggressive promotional activities. In this scenario, Nicoloss is an example of a(n)

unsought product

JEMS Enterprise buys wooden furniture, such as tables and chairs, from a furniture manufacturer and sells them to government schools. In this scenario, JEMS Enterprise is a

wholesaler