Marketing 431

According to your instructor, subcultures can be powerful segmentation variables because people have more choice about the subcultures they choose to identify with. This means?

They are more likely to seek out products that affirm their membership in the subculture

According to your instructor, which of the following is a reason why environmental scans are so important to marketing managers?

They can help you avoid being "blindsided" by unanticipated market factors.

Many sales people prefer outside selling because?

They can make more money

Many sales people prefer inside selling because?

They don't like to travel

Not-for-profit organizations need to use complementary positioning because...

They may only provide on element in a network of services received by the customer.

Not-for-profit organizations need to use complementary positioning because...?

They may only provide on element in a network of services received by the customer.

Which of the following is a condition that must be met before you can consider a group of people to be a market segment

They must be different from people who are not in the segment in some meaningful way

Which of the following is a condition that must be met before you can consider a group of people to be a market segment?

They must be different from people who are not in the segment in some meaningful way.

Which of the following is a condition that must be met before you can consider a group of people to be a market segment?

They must be similar to each other, at least with respect to you product

Reference groups are important to Marketers because...

They serve as information sources and influence perceptions

Which of the following statements about the AIDA model of persuasive communication is true?

This is a sequential process, all persuasive messages have to go through the four stages

Why is it a good idea for a business to group its customers into market segments?

To be able to respond more effectively to the wants of groups of potential buyers

The decision to hold inventory is critical to providing customer service though the supply chain. There are both cost and benefits. Which of these is NOT a benefit of holding inventory?

To create possession of utility for producers.

The decision to hold inventory is critical to providing customer service through the uplly chain. There are both costs and benefits. Which of these is NOT a benefit of holding inventory?

To create possession of utility for producers.

The decision to hold inventory is critical to providing customer service through the supply chain. There are both costs and benefits. Which of these is NOT a benefit of holding inventory?

To create possession utility for producers

The supply chain centers on the producer. Upstream activities consist of?

To create possession utility for the producers.

Which of the following is one of the three typical uses for information in a marketing information system as described in class?

To generate routine reports showing progress toward meeting marketing goals.

Which of the following is NOT a motive for a business customer to purchase a product?

To negotiate a price so low that the supplier actually loses money on each transaction.

The decision to hold inventory is critical to providing customer service through the supply chain. There are both costs and benefits. Which of these is NOT a cost of holding inventory?

To save on capital expenditures

Which of the following is one of the three typical uses for information in a decision support system as described in class?

To support ad-hoc or one of a kind decision

Which of the following is one of the three typical uses for information in a decision support system ad described in class?

To support ad-hoc or one of a kind decisions.

Many companies are incorporated under one name and use a different, more familiar name when they deal with the public. For example you may be more familiar with "Kentucky Fried Chicken" than with the corporate holding company Yum! Brands which operates KFC along with other well known restaurant chains?

Trade Name

One way to segment markets for business customers is by industry type. This approach is attractive because many industries have _______ which makes it cost effective to communicate with businesses in that industry?

Trade publications

A __________ is a brand name or a service mark that has been granted legal protection by the U.S. government.

Trademark

A ______________ is a brand name or a service mark that has been granted legal protection by the U.S. government.

Trademark

A company in the _____________ stage of the continuum of sustainability will make a relevant cause part of its business model.

Transformation

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers at her warehouse. She puts cases of each brand of candy in her delivery trucks so that her drivers can visit her retail customers and resupply racks. Kendra is adding value by _____?

Transportation

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers at her warehouse. She then puts cases of each brand of candy in her delivery trucks so that her drivers can visit her retail customers and resupply their candy racks. Kendra is adding value by ________?

Transporting

Unlike a storage warehouse, a distribution center is primarily for?

Transshipment of products

Santa Claus is trying to forecast demand for coal this Christmas. For the past 300 years, the number of naughty children (who will get coal in their stockings) has increased by 3% each year. Santa is likely to use the __________ method to forecast demand.

Trend analysis

Santa Claus is trying to forecast demand for coal this Christmas. For the past 300 years, the number of naughty children (who will get coal in their stockings) has increased by 3% each year. Santa is likely to use the _____________ method to forecast demand.

Trend analysis

The ____________ approach to new product pricing sets prices low for a while in order to encourage people to try the product and then raises the price once the new product gained traction in the marketplace?

Trial pricing

Carlina operates an automobile parts manufacturing plant in Chillicothe, Ohio. She has automotive customers in Michigan, Ohio, Tennessee, Georgia, and Indiana. Because most of her customers insist on Just In Time inventory management, she needs to know exactly when the shipments of her product to the customer will arrive. Carlina uses ____ transportation for this part of her business:

Truck

In the United States, industries can choose to regulate themselves if there is no government regulation of that industry.

True

It is more common to use negotiated prices in B2B markets than it is in consumer markets?

True

One drawback to adopting an intensive market coverage strategy is that there is no incentive for channel partners to promote your product because it isn't special

True

Television networks share the space to run ads during a program with local affiliate stations.

True

When reporting on research in mass media, reporters emphasize the parts of the research that make for a good story.

True

After the super bowl football game, Mark got a phone call from a polling organization. The person on the phone asked Mark which commercials he remembered seeing during the Super Bowl. This is an example of a(n) ________ test of advertising effectiveness?

Unaided recall

A(n)_________ targeting strategy uses a mass market approach to reach as many people as possible with the same marketing mix.

Undifferentiated

When discussing the ethical/legal framework for evaluating marketing decision in class, it became apparent that the most difficult decisions deal with issues that are ______and _______?

Unethical, legal

The San Francisco Municipal Railway (MUNI) Charges $1.50 for an adult passenger. Once you have purchased a fare (and taken a transfer as proof of payment) you can ride anywhere on the system for the next 90 minutes. This is an example of __________ geographic pricing.

Uniform delivered price

When marginal revenue is NEGATIVE and prices decrease?

Unit sales increase

For prestige products - products that are consumed socially and confer status on their owners?

Unit sales of the product can decrease if prices are lowered.

According to your instructor, what is the hard way to become the category leader?

Use the marketing mix to create a superior product offering in the category and then spend what it takes to communicate the superiority of your product to consumers.

A search campaign for a medium-sized company is likely to involve selecting _________ key words?

a. 10,000 or more

When would you be willing to spend money to develop new information to support a decision? a. All of these are reasons to spend money to develop new information to support a decision. Correct b. When the expected value of the decision increases with better information. c. When there is a high level of uncertainty about alternative outcomes. d. When there is a lot at risk in making the decision. e. When the information you develop is better than guessing.

a. All of these are reasons to spend money to develop new information to support a decision.

Price elasticity is the slope of the demand curve. When price elasticity is LOW?

c. A large change in price will lead to a small change in quantity demanded You can increase revenues by increasing prices

Which of the statements about the levels of the product concept are true? a. It is a useful tool to use in developing new products. b. It recognized that there are an infinite number of ways to satisfy a consumer's need. c. All of these statements are true. Correct d. It can be used as a basis for positioning. e. It looks at products from the customer's perspective

c. All of these statements are true.

When it comes to setting budgets, a top-down budget...?

c. Is determined at the corporate level

A ______________ is one for which a customer will accept no substitute?

c. Specialty product

Which of these stores might want to locate next to each other in order to increase traffic for both of them?

c. Two automobile dealerships

Time has an impact on purchase behavior both from a "ticking clock" perspective and from a ____________ perspective?

calendar

According the the information presented in class, the role of unsupervised learning in marketing analytics is to create models to predict future outcomes.

false

An inexpensive package shows the customer that you focus on making quality products rather than making pretty packages.

false

Human beings always choose the best available product when making a purchase.

false

In a performance-oriented culture, people at every level are encouraged to develop their own tactics for executing the strategic plan.

false

In the United States, the federal government monitors the marketplace for possible infringement on registered brand names.

false

It makes it easier for a customer to adopt a new product if the new product is similar to the one it is intended to replace.

false

Omni-channel marketing creates a unique user experience for each device a customer may have.

false

Search engine operators seek community input when developing the criteria for organic search rankings to ensure the results from a search are relevant to the user.

false

Telemarketing is an inexpensive retail format for relationship marketing.

false

The intent of federal price regulation is to discourage excessive competition.

false

Theres a limit to how many keywords you can buy each day when you use google for search engine marketing

false

Up until 2006, it was legal for manufacturers to dictate the prices at which retailers can sell their products.

false

When making purchases, it really doesn't matter how you feel emotionally.

false

When retrieving memories, most people access the exemplar and up to two additional memories in the category.

false

all (or most) customers are consumers

false

Wilma is developing a website where people can buy or sell gently used baby clothes. Wilma will certainly include include ___________ as a segmentation variable.

family life cycle

The goal at the ______________ stage of the product life cycle is to build market share and differentiate the product.

growth

Which of the following situations describes a business customer?

A person who buys yarn in order to knit baby clothes for sale on her "darned babies" website

Which of these recommendations is more likely to be trusted according to Marketing 3.0?

A positive review on Yelp

Which of the following is tactics is most likely to encourage customers to pay your asking price for a product.

A price tag that looks like it was professionally printed.

According to the material presented in class, a process measure

A process measure is all of these things

A channel of distribution always includes.

A producer

A channel of distribution always includes?

A producer

A direct channel of distribution consists of?

A producer and a customer

A direct channel of distribution consists of?

A producer and a retailer

What is the difference between a research objective and a management objective as described in your text?

A research object provides an answer to a specific question, a management objective may require several sources of information

Price elasticity is the slope of the demand curve. When price elasticity is HIGH?

A small change in price will lead to a large change in quantity demanded You can increase revenues by cutting prices

What do we mean when we speak of the 80/20 rule?

A small fraction of a firm's customers provide a large fraction of a firms sales

The value of the levels of the product concept is that the actual product can be thought of as?

A way to deliver the core benefit to the consumer

For many products such as candy bars, there is a price consumers expect to pay for the product. Companies using the ______ to setting prices will use this price as a basis for positioning their products as prestige or value brands?

Above or below approach

Materials handling deals with loading and unloading products and moving them from place to place. The one biggest issue in material handling is?

All of these issues are associated with materials handling

When marginal revenue is POSITIVE and prices decrease?

All of these things happen when marginal revenue is positive and prices decrease.

Which of the following services is a full-service advertising agency likely to provide?

All of these- that is why they call it a full-service agency

Which of these statements about the introductory stage of the product life cycle is true.

All products start the introductory stage losing money

According to your instructor, when is the best time to establish a metric to measure the performance of a promotion?

At the time the promotion objective is established

Kris decided to go shopping for a pair of tennis shoes. She went to the mall where there were several stores selling shoes. The first store was poorly lit, seemed to be kind of dirty and was very crowded. The second store was brightly lit, sparkning clean and had the shoes attractively displayed on shelves. She walked past the first store and into the second store in order to shop for shoes. Kris was influenced by ___________?

Atmospherics

Many retailers play holiday music in the background and scent the air with cinnamon and peppermint to help shoppers get "in the mood" when they are doing their winter holiday shopping. This is an example of using ___________ to implement a store positioning strategy?

Atmospherics.

A(n) _____________ is a learned predisposition to respond to an object or a class of objects in a consistently favorable or unfavorable way?

Attitude

BruceCo was opposed to proposition 92.3 in California general election. This proposition would impose a 50 cent/cup tax on coffee in order to pay for education. The most recent polls showed 57% of likely voters supported the proposition. BruceCo then paid for an advertisement which explained that if the proposition passed, the cost of a cup of coffee would increase by 50 cents. Following the ads the polls showed only 32% of likely voters were in favor of the proposition. This is an example of a(n) _______ test of advertising effectiveness?

Attitude change

Which of the following statements about attitudes is FALSE?

Attitudes are permanent

Which of the following statements about attitudes is FALSE?

Attitudes become more favorable over time

In order to get an individual to adopt a new product the first thing you need to create is?

Awareness

According to Michael Porter, there are two fundamental marketing strategies: being the low cost producer or to differentiate your product form the competition. Why is this important to understand in a discussion of market segmentation?

Because there is only room for one low-cost producer in an industry, everybody else will need to use a differentiation strategy. Market segmentation is a tool you can use to help differentiate your product.

According to Michael Porter, there are two fundamental marketing strategies: being the low cost producer or to differentiate your product from the competition. Why is this important to understand in a discussion of market segmentation?

Because there is only room for one low-cost producer in an industry, everybody else will need to use a differentiation strategy. Market segmentation is a tool you can use to help differentiate your product.

According to your instructor, why are sales teams becoming more popular in personal selling?

Because it increases the number of potential employees for a sales organization.

Why does your instructor recommend the chain ratio method of sales forecasting

Because it integrates sales forecasting into the strategic management process.

Why does your instructor recommend the chain ration method of sales forecasting?

Because it integrates sales forecasting into the strategic management process.

According to your instructor, why is it that many businesses may be unaware of how they are actually perceived in the market place.

Because much of the information executives get is from people who are paid by the company

__________ is a strategy that involves tying the charitable contributions of a company to customer revenue produced through a promotion of its product?

Cause marketing

According to your instructor, why is it that many businesses may be unaware of how they are actually perceived in the market place.

Because much of the information executives get is from people who are paid by the company.

Why is it important to develop contingency plans when you adopt a sales forecast?

Because once a plan is underway, there is a tendency to explain away unexpected results rather than try to adapt the plan to the new circumstances.

According to your instructor, why is a good environmental scan so important for a marketing manager?

Because the better the environmental scan, the better the strategic and tactical decisions that will be made based on the environmental scan.

OK, so you have successfully divided the potential market into three distinct market segments. What do you do next?

Create specific product/market offerings to satisfy unmet needs in each segment

The goal of a marketing channel is to?

Create the most efficient way to move products from producer to consumer.

Which of the following statements about creating a brand is true?

Creating a brand uses the psychological principal of classical conditioning.

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers and repackages it so that a retailer can buy a case of candy bars and have some from every manufacturer in the case. Kendra is adding value by ___________?

Creating assortment

Why is demand inelastic for many industrial goods?

Because the component cost is so small relative to the cost of the end product that large changes in the price for the component will have little impact on demand for the end product.

Why is it important for a marketer to know the ownership structure of a retail store?

Because the ownership structure determines who you need to approach in order to sell to the store.

According to your instructor, which of the following is a reason why environmental scans are so important to you as a marketing manager?

Because the quality of the environmental scan affects the quality of the marketing strategies you develop.

When using the _____________ approach to selling, the salesperson will encourage the customer to make a decision quickly, so that the customer doesn't have a lot of time to think things over or to change his or her mind?

High pressure

_____________ is still used successfully today, especially when dealing with the expensive, one-time purchases; even though most marketers consider it incompatible with relationship building?

High pressure sales

Which of the market structures best describes the current market structure of retailing in the United States?

Highly concentrated

________ is a guerilla marketing tactic where a company that is not a sponsor of an event will behave in a way that people might think they are in fact a sponsor if the event?

Hijacking

Which of the following statements about the growth of the product life cycle is false?

Increasing demand and decreasing competition lead to higher profits

Which of the following statements about the growth stage of the product life cycle is false?

Increasing demand and decreasing competition lead to higher profits

According to Marketing 3.0, one of the major forces encouraging comopanies to adopt sustainable business practices is...?

Increasing scarcity of natural resources

Which of these is NOT a major trend shaping the business landscape toward Marketing 3.0

Increasing trust in government and financial institutions

A __________ is a retail concept where, typically a smaller retailer provides highly personalized service through a single retail outlet?

Independent store

A major disadvantage of ____________ is that it can be very expensive to create a brand identity for each product.

Individual product branding

Proctor & Gamble creates a separate brand identity for each product they bring to market. This strategy is called _______________.

Individual product branding

_________________ is when a company creates a unique brand identity for each product?

Individual product branding

BruceCo is a company that makes products for the coffee industry. They subscribe to a clipping service that monitors newspapers in major cities around the world for articles related to the coffee industry. This is an example of __________ in a marketing information system?

Marketing intelligence

What is the difference between a relationship and an exchange?

It may be good business to lose money on a transaction in a relationship, it is rarely good business to lose money on a transaction in an exchange.

Which of the following is NOT a major barrier to the execution of integrated marketing campaigns?

It requires the development of a creative platform to coordinate marketing messages throughout the company

Increasingly channel partners are working together to coordinate their efforts in order to increase the efficiency of supply chains and distribution networks. One supply network strategy is for the producer to share ordering and production information with suppliers and transportation intermediaries in order to minimize inventory by scheduling raw materials and components to arrive at the time the producer is ready to use them to manufacture products. This strategy is called?

Just in Time

BruceCo competes in the premium coffee market in the San Francisco area. The biggest competitor, Starbucks controls 48% of the market while BruceCo controls only 1% of the market. BruceCo is measuring _________?

Market Share

The Boston Consulting Group matrix is a 2x2 matrix with________ on one axis and______ on the other axis. This creates four positions: cash cows, stars, problem children (or question marks) and dogs.

Market growth rate, relative market share

According to Marketing 3.0, one of the major forces encouraging companies to adopt sustainable business practices is...?

Market polarization

What is the difference between market potential and sales potential?

Market potential is the upper limit of sales for the industry as a whole, sales potential is the upper limit of sales for your company.

A(n)________ is a relatively homogeneous group of prospective buyers who are similar to each other in terms of their consumption behavior.

Market segment

Which of the statements about Marketing 3.0 is TRUE?

Marketing 3.0 builds on what we learned in stages 1 and 2

A ______________ is a tool for evaluating an organization's internal and external strengths and weaknesses?

Marketing audit

A __________is a set of interdependent organizations that ease the transfer of ownership from producer to business user or consumer?

Marketing channel

BruceCO is a company that makes products for the coffee industry. They subscribe to a clipping service that monitors newspapers in major cities around the world for articles related to the coffee industry. This is an example of___ in a marketing information system?

Marketing intelligence

The term _____________ describes how industries that were once growth industries became stagnant because managers in that industry relied on a narrow definition of their business and failed to change when technology or customer tastes changed?

Marketing myopia

The difference between the retail price and a store's cost of goods sold (COGS) is its _________?

Markup

The thing that distinguishes advertising from personal selling is that advertising communications are?

Mass communications

What is the difference between a business customer and an individual consumer.

Mass marketing techniques are usually less cost effective in business marketing than in consumer marketing because there are fewer business customers than individual consumers.

According to your instructor, most consumer products are in the _____________ of the product life cycle?

Maturity

According to your instructor, which of the following pricing objectives is commonly used by publicly traded American firms?

Maximizing current profit

Psychographics, the practice of combining psychology, lifestyle and demographic information to segments markets can provide useful insight about consumer motivations and buying patterns. One of the weaknesses of using this approach for market segmentation is that it is difficult to ______ psychographic segments.

Measure

According to your textbook, the internet appeals more to ________ who find it an easy way to shop for clothing and gifts

Men

Paolo was applying for a new job. He sent his best suit to the dry cleaners so he would be ready in case he had an opportunity for a job interview. The dry cleaner is an example of a(n) __________ service?

Possession processing

_____________ are business customers who purchase goods to incorporate them into other products for other businesses to use

Producers. Industrial markets.

A_____ is a good, service or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchanged for money or some other form of value.

Product

Sometimes it is not feasible to conduct causal research because meeting all of the conditions (for example a probability sample when you aren't sure how many people are in the population). In these cases researchers may conduct ____________ research which is almost as good.?

Quasi-experimenta

Although not usually considered to be per-se, ________, which deals with the performance, reliability, and safety of products can be thought of as "product ethics"?

Quality

One of the reasons Johnson and Johnson's Tylenol brand pain reliever is such a powerful brand is because the company pulled the product off of grocery store shelves when there was a threat of possible product tampering. They did this even though it cost them money. This is an example of defending the __________ of the brand?

Quality

Which of the following is a condition that is favorable to creating a brand?

Quality and value are easy to maintain.

When we say a measure is __________ we mean that it should involve a number?

Quantifiable

One common strategy to extend the life of a product in the maturity stage of the product life cycle is to ____?

Reposition the product to appeal to a new market segment

According to your instructor, what is pseudo-research?

Research that is conducted to support a decision that has already been made.

_____________ include retail and wholesale businesses.

Resellers

Coca Cola's basic strategy is that you should never be more than an arms length away from a cold, refreshing Coke. In order to achieve this strategy they try to make Coke products available for sale through as many outlets as possible. You can buy bottled Coke in the grocery store, fountain coke at a restaurant, single cans and bottles at convenience stores and gas stations, and individual cans from vending machines while you are waiting in line for a ride at an amusement park. Because the goal of the supply chain is to maximize _____, Coke is willing to bear the expense of having several different channels of distribution?

Responsiveness

Bruce is very frustrated. He trying to make copies of a handout for his 9:30 principles of marketing class and the copier is jammed. The copier is always jammed. He has complained to the purchasing agent several times, asking them to get a copier that works. Bruce is performing the role of _________?

User

__________ is an ethical perspective that believes a decision is ethical if the benefits outweigh the cost?

Utilitarianism

A channel of distribution helps to create form, place, time and possession _________?

Utility

A channel of distribution helps to create form, place, time, and possession______?

Utility

A channel of distribution helps to create from, place, time, possession ______ ?

Utility

According to your instructor, the first thing to do when a customer asks a difficult question during the sales presentation is to?

Validate the objection

__________ is the relationship between benefits received and their cost

Value

By definition, Marketing is an organizational function and a set of processes for creating, communicating, and delivering ______________ and for managing customer relationships in ways that benefit the organization and its stakeholders?

Value to customers

When using mirroring to select a channel partner as described in Marketing 3.0, the most difficult characteristic to identify is...?

Values

Which of the following statements best describes the relationship between marketing strategy and supply chain management?

Supply chain management is a tool that can help you implement your marketing strategy

Which of the following statement best describes the relationship between marketing strategy and supply chain management?

Supply chain management is a tool that can help you implement your marketing strategy.

The Boston Consulting Group matrix is a 2x2 matrix with four positions: cash cows, stars, problem children (or question marks) and doges. When looking at market segments, the portfolio approach is a useful tool for:

The BCG matrix is useful for all of these

According to your instructor, which of the following is a strategic issue relating to personal selling a marketing executive needs to address?

What is the role of the sales force in the promotional mix?

Before you can measure the quality of a service, you need to understand?

What the customer expects from the service.

The final grade for the course is based on mini test scores (50%) and the final exam (50%). Jum had a total of 125 on his mini tests and a 35 on the final exam. Jum's final grade was

125/130= 96%; 35/50=70%; (70+96)/2= 83% Jum earned a B

What is a customer?

A customer is all of these

What is the difference between a need and a want as discussed in class?

A need is a perceived lack of something, a want is a culturally defined way to satisfy the need

When we speak of a consumer, we are speaking of...?

A person who purchases things for personal consumption.

________________ is the basic unit of exchange?

A transaction

What is the market for a specific product?

All of the potential customers for the product.

Which of the following is an expected outcome of the consumer buying process?

All of these are expected outcomes of the consumer buying process.

Which of the following groups would normally be considered to be a stakeholder of a company?

All of these are normally considered to be stakeholders

The second stage of the consumer buying process is?

All of these are part of the second stage of the consumer buying process.

Of the three ways to satisfy a need discussed in class, which one is used to create exchanges?

Buy it

Which of the following statements about the consumer buying process is FALSE?

Different people will go through the stages of the consumer buying process in a different order.

What is the "pain threshold" for gadget buyers your textbook mentions?

Gadget buyers will try to figure out a confusing new product for about 20 minutes before giving up and returning it.

Which of the following statements best describes the consumer buying process discussed in class?

A consumer trying to satisfy a need through a purchase is actually solving a personal problem.

Which of the following is a condition necessary for exchange to occur?

A means of communication.

Based on what you understand about the consumer buying process, why is it a good idea for Toyota to feature fuel economy in the advertisements for its hybrid Prius automobile.

All of these are reasons why it is a good idea for Toyota to feature fuel economy in advertisements for its hybrid Prius automobile

What was the professor talking about when he asked you to do a 'reality check' before the 3rd week drop deadline.

All of these things.

Which of the following is NOT part of the marketing concept?

An alternative to a market orientation

What do we mean when speak of an organization's stakeholders?

Any individual or organization that is affected by what the company does and how well it performs.

According to your textbook, the value of customer satisfaction can be demonstrated by a study that showed reducing customer attrition by just 5-10% could increase annual profits by ___?

As much as 75%

Which of the following is NOT a strategy to increase customer value as discussed in your textbook?

Avoid intrusive advertising

Which of the following typically a responsibility of the marketing function in an organization?

Create need-satisfying offerings

Which of the following statements about value is FALSE?

Customers who fail to perceive the true benefit of a product may have an incorrect perception of its value to them

_________ utility is associated with the physical or chemical changes that make a product more valuable

Form

The second stage of the consumer buying process is?

Information search

Market-oriented organizations generate sales volume primarily through...

Market-oriented organizations emphasize all of these activities

By definition, _____________ is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders?

Marketing

Which of the following statements about the number of alternatives identified in the consumer buying process is FALSE?

Memory based searches will usually identify more alternatives than external searches.

The grade for this class is based on:

Multiple choice tests

Perla is trying to decide which of two plasma television sets she should purchase. One is more expensive than the other but it has better resolution. Sound quality is the same on both television sets. They both come with remote controls but Perla rarely uses a remote control so it is not a factor in her decision. Perla is using __________ to make the decision?

Multiple criteria

Grocery stores frequently put items such as candy bars or chewing gum next to the check-out lines. The reason is that simply seeing the candy display may make a consumer hungry for a candy bar. This tactic tends to affect consumers at the ________ stage of the consumer buying process.

Need recognition

Marketers of ___________ and __________ products have to use intrusive advertising in order to make consumers aware of them at the appropriate point in the consumer buying process?

New, unsought

Bruce has always wanted to own a Ferrari automobile. For him it will always be a dream because he will never be able to afford to buy one unless gets a better job and saves his money for several years. Is Bruce part of the potential market for Ferrari automobiles?

No because he does not have the money to buy a Ferrari.

According to your instructor, the reason people experience buyers remorse after making a major purchase is because?

Once you have made a choice between two attractive alternatives, you experience a sense of loss over the alternative that you didn't choose

What is the societal marketing concept?

Organizations should satisfy the needs of consumers in a way that provides for society's well being.

According to the material presented in class, marketing can be thought of as a(n) __________________ or as a(n) _____________________?

Philosophy, business function

_________ utility exists when a product is readily accessible to potential customers

Place

The two phases of developing marketing programs are?

Planning and implementation

Many consumer products include a toll-free number on the package that you can call if you experience any problems with the product. In addition to assuring customers during the purchase stage, this customer service number helps consumers during the ________ stage of the consumer buying process?

Post Purchase Behavior

Many consumer products include a toll-free number on the package that you can call if you experience any problems with the product. In addition to assuring customers during the purchase stage, this customer service number helps consumers during the ________ stage of the consumer buying process?

Postpurchase behavior

What is the difference between a relationship and an exchange?

Relationship marketing takes a longer-term perspective than exchange marketing.

Pearl is on her way to a party. She turns on her digital camera and notices that the batteries are almost dead. Pearl is likely to engage in _________ problem solving as she buys new batteries?

Routine

Which of the following is an example of "listening" to the market?

Sandra reviews the J.D. Powers quality report for her product.

According to the instructor, what is the best way to prepare for the final examination?

Schedule a minimum of one hour each week just to take the mini tests. Take the mini tests that are live until you have 10s. Then go back and take the practice tests. Keep taking the practice tests over and over to keep the questions and answers fresh in your mind

A Market-oriented organization targets its products at...

Specific groups of people

What did your instructor mean when he mentioned the concept of cognitive miserliness?

That people do as little 'thinking' as possible when making a decision.

Which of the following statements about understanding consumer needs is TRUE?

The benefit that an individual consumer receives from a product is in the mind of the consumer.

The consumer buying process deals with how human beings __________ ?

The consumer buying process deals with all of these.

The mini test score that counts toward your final grade is?

The last attempt

Which of the following statements about value is TRUE?

Two different customers might have different perceptions of the value of the same product.

Companies adopting __________ focus on what it is that they can do best.

a production orientation

If you need to communicate with the instructor about the class, the only "official" mode of communication is?

e-mail

The rule of thumb for college level work is that to be successful, you should be putting in _________ hours outside of class for every hour in class?

2 to 3

`Which of the following people would most likely be a potential customer for a Ferrari luxury car?

A millionaire who already owns a Ferrari.

What is an attribute?

A quality or characteristic inherent in or ascribed to someone or something.

Many students are confused by the structure of this class. You have the option of viewing the lectures any time, but viewing the lectures is not required. You may take the tests whenever you want during a two-week window. A common mistake is to assume that because the class is convenient, it must be __________ and you can take __________. This is not usually true.

Easy, shortcuts

Erik is going to buy a pair of running shoes. Which of the following factors would lead you to believe that buying running shoes is a LOW involvement decision for Erik?

Erik has purchased many pairs of running shoes in the past and has a favorite brand

A sales-oriented organization targets its products at...

Everybody

According to your instructor, principles of marketing - understanding the needs of the customer and developing need-satisfying offerings - can help you in your life, not just in your business. For example, you could consider _________________ as a marketing situation where you are the product.

Finding a new job.

The way to find out what the deadlines are for the mini tests is to?

Go to the class website and look for the deadline information posted in the test description.

Which of the following is NOT a concern during the purchase stage of the consumer buying process?

Identifying all of the alternative products available

What is the difference between a relationship and an exchange?

In a relationship, the transaction is influenced by the history of previous transactions, in an exchange the transaction stands on its own merits.

Grocery stores frequently put new products in high visibility locations such as the end of an aisle or near the checkout lanes. This makes consumers who might be thinking about buying a similar product aware of the new product. This tactic affects consumers who are in the _________ stage of the consumer buying process?

Information search.

Jill has been sitting through Professor Robertson's class for almost an hour now. She didn't have time for breakfast because... well just because. It is now almost eleven o'clock and she realizes that she is very hungry. This is an example of _________ need recognition that the professor was talking about in class?

Internal

_________ refers to the amount of time and effort a buyer invests in the search, evaluation and decision processes of consumer behavior

Involvement

Jin is shopping for clothes for school. He is very self confident and knows and trusts his classmates. Still he would like to look nice on the first day. Jin is likely to use ________ problem solving as he purchases a new shirt for school?

Limited

Which of the following typically a responsibility of the marketing function in an organization?

Listen to the market.

Tran has just completed a research project for his boss. He reviewed the political, legal, environmental and competitive factors that might have an impact on his company's ability to launch a new product. Which of the major marketing functions was Tran doing?

Listening to the market.

_________ utility relates to the satisfaction proud owners get from the products they own.

Possession

Serge is developing a line of healthy hamburgers. He has conducted market research where he asked people in a group setting what they prefer in a healthy food. Everybody said that the most important feature in healthy food is low fat content. Based on this, Serge is planning to introduce a hamburger with the lowest fat content of any hamburger on the market. Will the product be successful?

Probably not because, although people say they want low fat in a hamburger, what they really want is a hamburger that tastes good. People are not always aware of what their true motivations are.

Sales-oriented organizations generate sales volume through intensive...

Promotional activities

Sandra is running an online bookstore. Her market research shows her that many people visit the site, look at several books, add one or more books to the shopping cart but never actually purchase anything. Based on what she learned about the consumer buying process Sandra decided to offer free delivery. She felt that this would make it easier for the customer in the ___________ stage of the consumer buying process.

Purchase stage

Sandra is running an online bookstore. Her market research shows her that many people visit the site, look at several books, add one or more books to the shopping cart but never actually purchase anything. Based on what she learned about the consumer buying process, Sandra decided to offer free delivery. She felt that this would make it easier for the customer in the ___________ stage of the consumer buying process.

Purchase stage. *e. decision stage.

Which of the following statements about the consumer buying process is TRUE?

The customer decides whether he/she is truly satisfied with the product after the decision has been made.

What do marketers mean when they speak of involvement as it relates to the consumer buying process?

The financial, social and psychological risk of the purchase to the person

The four 'P's are?

The marketing mix variables we use to create need-satisfying offerings.

What was your instructor talking about when he mentioned a 'consideration set' during the lecture on the consumer buying process?

The subset of the alternatives identified during the search phase that the consumer evaluates before making a decision.

The best way to approach this class is to:

There is no "best" way to approach this class. It is designed so that each student can find the combination of content delivery, test taking, and interaction that meets his or her objectives for taking the class.

Which of the following is a condition necessary for an exchange to occur?

There must be at least two parties involved.

According to your textbook, one of the most common ways consumers recognize they have unmet needs is when...?

They are about to run out of something they generally keep on hand

Danielle is a very busy person. She works all day and goes to school at night. She is not always able to get to the stores when they are open so she does much of her shopping on the internet. The internet offers her ________ utility?

Time

You have ____________ to take each mini test.

Two weeks

You may take each mini test ___________ time(s) during the period it is available.

Unlimited

_________ is the benefits or value received by users of a product.

Utility

The first stage of the consumer buying process is:

Where a consumer realizes that there is something he or she lacks.

Which of these is a question you should be asking when establishing the objective for a promotional campaign?

Who is the target audience?

The only way you can make up a missed mini test is?

You were physically unable to take the test during the entire two-week period it was available and can prove it with a doctor's excuse or other external documentation.

Companies adopting __________ believe that aggressive sales techniques will result in more sales and high profits.

a sales orientation

_____________ refers to the number of product lines in a company's product mix.

breadth

A ___________ is a distinctive manner of dress or presentation?

style

For ___ products, an increase in demand for one product least a decrease in demand for the other product?

substitute

When ________________ is low, customers are likely to abandon your product if you raise prices.

switching cost

Which of the following is an example of a source of data you might acquire in marketing analytics?

syndicated research

In general, the intent of government regulation of business in the United States is to?

Increase competition

A supply chain consists of both a _______and a _______?

Supplier network and marketing channel

A supply chain consists of both a ___________ and a ________?

Supplier network, Marketing Channel

what is a need?

a perceived lack of something

What would a reader expect to find in the executive summary of a research report?

A one-page summary of the project including major findings.

Unlike a product advertisement, an institutional advertisement may have_______ as an objective?

Advocacy

A company in the _____________ stage of the continuum of sustainability will provide marketing support for a relevant cause.

Cause Marketing

A(n)_________ targeting strategy focuses on one specific marketing segment with one marketing mix?

Concentrated

One of the ways that attitudes about a product change over time is through ________________ or observing how others react to the product?

Conceptual learning

When using the _____________ approach to selling, the salesperson will ask questions in order to better understand what problem the customer is trying to solve with the purchase?

Consultative selling

Which of the following is NOT an example of an intermediary?

Consumer

Demand factors are factors that affect consumers' willingness and ability to purchase products. Demand factors such as __________ affect what consumers ARE ABLE to buy?

Consumer income

Which of the following is NOT something that could be found to be illegal under United States Law?

Consumer rebates

Demand factors are factors that affect consumers willingness and ability to purchase products. Demand factors such as __________ affect what consumers WANT to buy?

Consumer tastes

According to your instructor, the balance of power in channels of distribution has shifted and continues to shift. In the past, manufacturers had the most power in a channel of distribution. In the future, it is likely that the balance of power will continue to shift toward_____?

Consumers

What do we mean when we say demand for industrial goods is derived?

Consumers buy industrial goods indirectly when they purchase consumer goods that use industrial goods as components.

Which of the following statements about a consumer is FALSE?

Consumers have similar tastes

The "Wheel of Fortune" is a game show that has been running on television for a long time. In order to encourage people to watch the show the producers allow people to go online and create a Spin ID. Sometimes during the television show, a spin ID number will be shown on the screen and the person who has the spin ID will receive the same prize as the contestant on the game show. This is an example of a ________sales promotion?

Contest

Developing a ______________ involves identifying critical points in the plan, anticipating what could go right or what could go wrong and determining in advance what course of action you will take?

Contingency plan

Adam had an idea for a new i-pod accessory. He showed his idea to ten of his friends. Three of them loved the idea, four of them thought it was OK, but nothing special and three of them hated the idea. If he develops the product, he will need to sell at least 10,000 in order to make money. He was wondering whether or not to develop the product when he remembered the law of large numbers from Professor Robertson's marketing class. Based on that, he decided to ______?

Continue to develop the product knowing that because there are millions of i-pod users, there will probably be a large enough group who like the product for it to be successful.

Which of the following is NOT one of the three solutions to social problems companies are expected to provide (from a McKinsey survey)?

Contribute money to help solve the problem.

Which of the following research techniques is most likely to be used in Causal research

Controlled experiment

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union looking for a snack. The first thing he saw was ice cream so he bought a big bowl of it. In terms of product classification, ice cream could best be described as a(n) for Bruce?

Convenience good

Companies frequently develop new products by combining two different technologies to come up with a product that represents a dynamically continuous innovation. This is known as______?

Convergence

A _____ is a retail concept where two or more stores are owned and operated by the same company?

Corporate chain

A_________ is a retail concept where two or more stores are owned and operated by the same company?

Corporate chain

Which level of the organization is typically responsible for determining the makeup of the organization's portfolio of businesses?

Corporate level

Which level of the organization is typically responsible for determining the organization's mission and or vision?

Corporate level

_________ is used in situations where the final cost of a good or service may not sbe available a the time the agreement is reached?

Cost plus pricing

In dealing with logistics there is a fundamental tradeoff between _____ and _____. The goal is to keep one high and the other one low, but they tend to increase together.

Cost, Service

In dealing with logistics, there is a fundamental tradeoff between _____and_____. The goal is to keep one high and the other low, but they tend to increase together.

Cost, service

The __________ to setting prices is based on understanding an organization's cost structure and profit requirements?

Cost-based approach

The disadvantage to the ___________ to setting prices is that it doesn't take into account whether customers are willing to pay the price your need to charge?

Cost-based approach

The market structure in which companies have the most flexibility in setting prices is?

Cost-based approach

BrucoCo introduced a new blend of coffee for amateur athletes. To encourage people to try the new product, the company ran ads in the local newspaper. People could cut out the ad and bring it in to the store for a free cup of new coffee blend. This is an example of a _________ sales promotion?

Coupon

Roxanne has completed her positioning analysis and has decided that there is an opportunity to create an adult milk beverage that is enhanced with vitamins. Currently, her company does not make such a product, nor for that matter do any of her competitors. Roxanne has the opportunity to?

Create a new category by introducing a product that is different from anything else on the market.

One way marketers can take advantage of the globalization paradox is to...?

Create products that reinforce a local community's identity

According to your instructor, what is the most important stage of the market research process?

Define the problem

Jiwon is thinking of developing a candy specifically for college students. Before she begins manufacturing, she has decided to conduct some research to determine whether or not she should include caffeine in the candy. If the results show students prefer caffeine, she will market it as a caffeine product. If the results show students don't care about caffeine, she will market it as an energy product. Jiwon is probably in the __________ stage of the market research process?

Define the problem

In general, the greater the _______ for a product, the higher the price you can charge for the product.

Demand

The ___________ to setting prices weighs consumer tastes and preferences more heavily than costs and profits.

Demand-based approach

According to your instructor, which of the bases for segmentation is most frequently used by marketers?

Demographic

Which of the following is NOT a requirement of a market segment?

Environmentally responsible

The _____________ deals with factors that affect your company, and are within your ability to control directly?

Internal microenvironment

A___sample means that every person in the population of interest has a known chance of being included in the research.

Probability

The ____________ approach to new product pricing sets prices high in order to recover development costs more quickly?

Skimming

The supply chain centers on the producer. Downstream activities consist of?

The flow of finished products from the producer to the end user.

The supply chain centers on the producer. Upstream activities consist of?

The flow of raw materials from the supplier to the producer

Which of the following statements about professional buyers is FALSE?

The goal of the professional buyer is get the lowest purchase price.

According to the material presented in class, when it comes time to develop the budget?

These are all things you need to have in mind when it is time to negotiate a budget.

Last year, BruceCo sold 1000 coffee cups for $10 each. If the cost for each cup was $4.70, what was the average revenue for BruceCo?

$10

Last year, BruceCo sold 1000 coffee cups for $10 each. If the cost for each cup was $4.70, what was the total revenue for BruceCo?

$10,000

Last year, BruceCo sold 1000 coffee cups for $10 each this year, the company is planning on selling 1500 coffee cups In order to cover the additional investment they will charge $10.50 for the first 500 cups, $1025 for the second 500 cups and $10 for the last 500 Each cup costs $470 to produce What is the marginal revenue for the 1125th cup?

$10.00

Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the average revenue?

$10.25

Last year, Bruce Co sold 1000 coffee cups for $10 each. If the cost for each cup was $4.70, how much profit did Bruce Co make?

$5,300

Last year, BruceCo sold 1000 coffee cups for $10.00 each This year, the company is planning on selling 1500 coffee cups in order to cover the additional investment they will charge $1050 for the first 500 cups, $1025 for the second 500 cups and $10 for the last 500 Each cup costs $470 to produce What is the profit for the 1125th cup?

$5.30

Last year , Bruce Co sold 1000 coffeee cups for $10 each . This year , the company is planning on selling 1500 coffee cups . In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce . What is the average profit if they sell all 1500 cups?

$5.55

Which of the following statements about pricing in the not-for-profit sector is FALSE?

*a. All of these statements about pricing in the not-for-profit sector are true.

Bruce Co is planning on selling coffee cups for $14 each. The company can buy the cups for $2.00 and have them printed for $1.50. The package costs fifty cents . There is a one -time set up charge from the printer of $1,000 . In order for the project to go forward, the company needs to show a $10,000 profit . How many cups of coffee will Bruce Co have to sell in order for the project to be acceptable?

1100

Which of the following situations describes a business customer?

A not-for-profit organization that buys copier paper in order to make flyers announcing a charity fundraising event. *a. A person who buys yarn in order to knit baby clothes for sale on her "darned babies" website

Bruce is planning on selling sandwiches in class for $5 each. Food costs are $4. He will also need to buy an insulated cooler to store the sandwiches. This cooler costs $10. How many sandwiches will Bruce have to sell in order for this project to break even?

10

Bruce Co is planning on selling coffee cups for $14 each. The company can buy the cups for $2.00 and have them printed for $1.50. The package costs fifty cents. There is a one-time set up charge from the printer of $1,000. How many coffee cups will BruceCo have to sell in order to break even?

100

Which of the following statements about marketing information systems is TRUE

A marketing information system as described in class is an ideal to which many businesses aspire

BruceCo is planning on selling coffee cups for $9.75 each. The company can buy the cups for $2.25 and have them printed for $1.69. The package costs 27 cents. There is a one-time set up charge from the printer of $700. Advertising expenditures for the project are $5999 and an insurance policy will cost $300/year. According to the sales forecasts, there is a maximum demand for this product of 24,000 units and marginal revenue will equal zero when the 1264th unit is sold. What is the breakeven point in units for BruceCo?

1264

Research has shown that the influence of family on the consumer buying process is very strong. This is because many of the consumption patterns we have for products are formed by the time we are ____ years old?

16

According to Reed, the power of a network in a many-to many network of n members is

2 to the nth power

BruceCo is planning on selling backpacks for $100 each. The company can buy the backpacks for $30.00 and have them customized for $20.00. There is a one-time set up charge of $1,000 for customization. How many backpacks will BruceCo have to sell in order to break even?

20

The 80/20 principle holds that?

20 percent of all customers generate 80% of the demand

BruceCo is planning on selling backpacks for $100 each. The company can buy the backpacks for $30.00 and have them customized for $20.00. T There is a one-time set up charge of $1,000 for customization. In order for the project to go forward, the company needs to show a $10,000 profit. How many backpacks will BruceCo have to sell in order for this project to be acceptable?

220

According to your text, the typical consumer is exposed to _________ advertising messages in a day?

2500

Bruce is planning on selling sandwiches in class for $5 each. Food costs are $4. He will also need to buy an insulated cooler to store the sandwiches. This cooler costs $10. Bruce needs to make a profit of $25 to make it worth his while. How many sandwiches does Bruce need to sell to make the project worthwhile?

35

Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the marginal profit for the 700th cup?

5.55

Principles of Marketing is a three credit hour class. The rule of thumb for college level work says that (in addition to viewing the lectures) if you want to succeed in this class you should be spending _________ additional hours studying each week?

6-9

Why is an understanding of attitudes important to understanding consumer brands?

A brand is essentially an attitude about a product

BruceCo is an inventory liquidator. The company identifies other businesses that have huge amounts of unsold inventory and buys it from them at pennies on the dollar. They then try to find another company that can use the inventory and sell it to them at a profit. What makes this business so fun is that you never know from day to day what product you will be dealing in or who might be a prospective customer. What type of wholesaler would BruceCo be considered?

A broker who negotiates deals with any customer who wishes to purchase what BruceCo is trying to liquidate.

What is the difference between a business customer and an individual consumer.

A business buys products in order to make money while an individual buys products for personal enjoyment.

A continuous innovation is?

A continuous innovation is all of these things.

A channel of distribution always includes?

A customer

A channel of distribution must always include?

A customer

An indirect channel of distribution consists of:

A customer, a retailer, and a producer

What is an information silo as described in class?

A database designed to support one business function that is not integrated with other

What is an as described in class?

A database designed to support one business function that is not integrated with other business functions.

What is the difference between data and information as discussed in class

A datum is a fact; information is a fact that is used in making a decision

Which of the following is NOT an example of a third-party provider of logistics?

A design firm

A discontinuous innovation is?

A discontinuous innovation is all of these things

Which of the following situations is probable illegal price discrimination as determined by the Robinson-Patman Act?

A gasoline refinery sells gasoline to its dealers for 50 cents less than to independent dealers because it doesn't want independent dealers selling gasoline at lower prices than the company's dealer network

What do we mean when we speak of advertising "campaigns"?

A group of ads and related promotional activities conducted over a specific period of time in order to achieve a desired outcome A series of ads in one or more media to achieve a specific objective for a limited time.

What is this 'keiretsu' that your textbook mentioned?

A japanese network of interlocking companies

The difference between a manufacturer's selling office and a manufacturer's representative is?

A manufacturer's selling office is owned by the company while a manufacturer's representative is owned by an independent contractor.

The difference between a manufacturers selling office and a manufacturers representative is?

A manufacturer's selling office is owned by the company while a manufacturers representative is an independent contractor.

BruceCo is a company that makes products for the coffee industry. Each summer, they hire a research intern from San Francisco State University to develop an industry forecast using information published by the US Department of Commerce and other government agencies. This is an example of ___ in a marketing information system?

Acquired databases/internet

BruceCo is acompany that makes products for the cofee industry. Each summer, they hire aresearch intern from San Francisco State University to develop an industry forecast using information published by the US Department of Commerece and other government agencies. This is an example of ___ in marketing information system?

Acquired databases/internet

Which of the following is NOT a functional benefit of packaging?

Acting as a silent salesperson

Desiree knows that she does not have very much money. Yet she dreams of being rich and famous like one of those Hollywood stars you see on television all the time. Her one luxury is to buy fashionable designer dresses just like those worn on her favorite television shows. In order to survive, she eats day old bread and lots of rice because it is very inexpensive. Desiree's desire to save money on food which she eats alone is motivated by her ____________?

Actual self image

Each business will use a different combination of promotional tools. The actual tools selected will depend on?

Actually it depends on all of these.

All of the elements of the Consumer Bill of Rights have become law in the United States, except for?

Actually the Consumer Bill of Rights is not the law in the United States; rather it guides the thinking if legislators and the courts in determining commercial law.

Each business will use a different combination of promotional tools. The actual tools selected will depend on?

Actually, it depends on all of these (Where you are in the product diffusion process, product life cycle, nature of product, how much money you have available for promotion)

What is the difference between data and intelligence as discussed in class?

Ad arum is a fact; intelligence is a full appraisal of information

Yuli is the California regional manager for a suntan lotion company. Currently the company does not have a distributor in San Francisco. Yuli will use the company's marketing information system to decide whether or not to add a distributor in Northern California. This is an example of a(n) ___ decision?

Ad-hoc

In order to be useful, criteria used to measure progress toward a goal should be all of these EXCEPT?

Adaptable

Sometimes, even when there is no formal agreement, a channel of distribution operates as a centrally controlled system. Usually this is when one member of the channel is so powerful relative to others that is can tell the others what to do. This is an example of?

Administered system

Marketers and lawyers disagree about what is the best thing to do when you make a mistake in delivering a service. Marketers are likely to?

Admit to making a mistake and work with the customer to resolve the problem.

According to your text, which of the following is NOT an advantage of internet surveys?

Advanced statistical analysis

According to your instructor, which of the following is one of the LEAST important influences on the consumer buying process?

Advertising

Selah has taken over as brand manager for a line of chewing gum. The product is very inexpensive and people treat it as an impulse purchase. Her primary promotional objective is to remind consumers that the product exists so that they will be likely to pick it up the next time they are in the mood for gum. This product appeals to virtually everybody and they have an intensive distribution strategy. Which promotional tool might work best as the primary tool in this situation?

Advertising

Which of the following is NOT a cost typically associated with logistics?

Advertising

Which of the following is NOT an issue typically addressed though distribution?

Advertising

Which of the following is NOT an issue typically addressed through distribution

Advertising

_________ is impersonal, one way mass communication about a product or an organization that is paid for by a marketer?

Advertising

Sales data is frequently used as a measure in marketing plans. Which of the following is NOT a commonly used sales measure?

Advertising expenditures

One of the major concerns when scheduling advertising is the _______which tells us advertising is effective up to a point, but after that, we see diminishing returns?

Advertising response function

Which of the following forms of promotion gives marketers the greatest degree of control over the message?

Advertising.

in the California general election, it is not unusual for a company to run an advertisement for/against a proposition stating that the proposition is good/bad for the economy and a waste of tax dollars/source of tax revenue. The objective of these institutional advertisements is probably _______________?

Advocacy

When are the mini tests due?

After the material has been presented in class

After the super bowl football game, Mark got a phone call from a polling organization. The person on the phone read a list of all commercials that ran during the game and asked Mark if he remembered seeing each one. This is an example of a(n) ________ test of advertising effectiveness?

Aided recall

Carlina operates a wholesale flower market serving florists in her city. She orders her roses from Ecuador because the quality is good and the prices are very competitive. Because the roses become in sellable after a day or two, Carlina uses ____ transportation for this part of her business.

Air

Carlina operates a wholesale flower-market serving florists in her city. She orders her roses from Ecuador because the quality is good and the prices are very competitive. Because the roses become unsalable after a day or two, Carlina uses ____transportation for this part of her business:

Air

Which of the following statements about forecasting is true?

All forecasts are guesses.

Which of the following statements about motivation is FALSE?

All needs are equally motivating

According to the material presented in class, which of the following is a selling situation?

All of the above are selling situations.

Which of the following is a selling situation as described in class?

All of the above are selling situations.

Which of the following statements about service marketing is TRUE?

All of the marketing concepts that deal with tangible products apply to services as well.

Which of the following is NOT a benefit of having an internal culture of authentic values?

All of these are benefits of having a culture of authentic values.

Which of these is NOT a characteristic of a good brand mission

All of these are characteristics of a good brand mission

Which of the following is an example of a strategic alliance as discussed in your textbook?

All of these are examples of strategic alliances

Which of the following is an inside sales job?

All of these are inside sales job

Materials handling deals with loading and unloading products and moving them from place to place to place. The one of the biggest issues in material handling is?

All of these are issues associated with materials handling

____ is an example of a product normally considered to be a support good for business customers?

All of these are normally considered to be support good

Which of the following is NOT an example of a not-for-profit organization?

All of these are not-for-profit organizations.

Which of the following is NOT part of the price of a credit card for college students?

All of these are part of the price of a credit card for college students

Which of the following is an example of a product?

All of these are products

Which of the following is an example of a question that can be answered using breakeven analysis?

All of these are questions that can be answered using break even analysis.

According to your instructor, why do telemarketers keep calling you during dinner to sell you things you don't want even though everybody will tell you that they dislike telemarketers? a. Because it is less expensive to contact a prospective customer by telephone than it is to contact a prospect in person. b. Because sometimes somebody does buy the product. c. Because telemarketers don't need to be concerned about the feelings of the 99% of people who don't buy their product. d. Because the shotgun approach requires contacting large numbers of people in order to find the few who might be interested in a product. e. All of these are reasons why telemarketers continue to call even when people say they dislike telemarketers.

All of these are reasons why telemarketers continue to call even when people say they dislike telemarketers.

Which of the following is NOT a source of information for typical Marketing Information System?

All of these are sources of information for a typical marketing information system.

What is the NAICS?

All of these are the NAICS.

In class we spoke of a goods-services continuum. The purpose of this concept was to help make the point that?

All of these are the point we were trying to make.

When it comes to managing services, some people find it helpful to think of it as a service encounter with roles for both the service provider and for the customer. It is the role of the service provider to?

All of these are the role of the service provider.

Which of these is NOT a tool you can use to communicate the brand experience?

All of these are tools you can use to communicate the brand experience

Which of the following is a trend affecting the composition of the American household?

All of these are trends affecting the composition of households in the United States

Which of the following is a trend affecting the composition of the American household?

All of these are trends affecting the composition of households in the United States.

Which of the statement about the layers of the product concept are true?

All of these are true

Which of the following conditions make it favorable for a retailer to launch a store-brand?

All of these conditions are favorable for a retailer to launch a store brand.

Irene wanted to start a Juice drink business in San Mateo. She felt that in order to build the traffic she needed to make the store successful, she should develop an integrated marketing communications program that included outdoor advertising on billboards near to her store, coupons printed in the local shopper newspaper, radio advertisements during afternoon drive time and on weekends, television ads on the food network using her local cable operator and a couple of giant helium balloons flying over her shop for the grand opening. Because she didn't have the $175,000 to pay for the entire campaign, she decided to buy a couple of giant helium balloons for $500 and to do the rest of the things after the shop opened and she had some cash flow coming in. This is an example of ___________ approach to setting the promotion budget?

All you can afford

Which of the following is NOT something you would like an intermediary to provide for your customers?

Alternate products

Which of the following is NOT something you would like an intermediary to provide?

Alternate products

BruceCo decided to introduce a new blend of coffee in its widely popular coffee shops. The plan was to introduce the new blend with a series of local television ads on the evening news because people who watch the news are more likely to be premium coffee drinkers. They followed this up with ads in the Monday edition of the local paper for the next two weeks. Finally they would purchase advertising space on the side of busses and run drive-time radio ads during the four weeks the bus signs were being displayed. This is an example of?

An advertising campaign.

Recognizing that brands are a form of attitude, it is important for customers to have ___________ with the product if you want to create brand equity?

An emotional connection

Which of the following is NOT a factor that will affect the price elasticity of demand for a particular product?

An increase in price for the product

Which of the following is NOT a factor that will affect the price elasticity of demand for a particular product?

An increase in price for the product will not affect price elasticity of demand.

An inverse demand curve is usually associated with luxury or prestige goods. With an inverse demand curve, within a certain range of prices...

An increase in price will lead to an increase in the quantity demanded

Which of the following is NOT a source of internal data used in a marketing information system?

An information silo

Which of the following is NOT a sources of internal data used in a marketing information system?

An information silo

According to your instructor, the internet has a massive disruptive effect on channels of distribution in this country. What is the secret of success for intermediaries in the internet age?

An intermediary will be successful as long as the channel of distribution is more efficient with them than without them.

According to your instructor, the internet has had a massive disruptive effect on channels of distribution in this country. What is the secret of success for intermediaries in the internet age?

An intermediary will be successful as long as the channel of distribution is more efficient with them than without them.

Sometimes companies will agree to a partnership where one company sells its product through another company's distribution network. One of the advantages of this approach is?

An intermediary will be successful as long as the channel of distribution is more efficient with them than without them.

Sometimes companies will agree to a partnership where one company sells its products though another company's distribution network. One of the advantages of this approach is?

An intermediary will be successful as long as the channel of distribution is more efficient with them than without them.

What would a reader expect to find in the limitations section of a research report?

Any compromises the researchers needed to make in order to complete the study

According to your instructor, many inexperienced sales reps fail to establish rapport with the customer in the _____________ stage of the personal selling process, making it difficult to uncover needs during the presentation?

Approach

The goal during the _____________ of the personal selling process is gain the customer's attention and build the foundation for the sales presentation?

Approach

Which of the following is one of the two questions that should be answered when evaluating a marketing plan according to the material presented in class?

Are there things we could have done better?

Ih the three circles postioning framework presented in class, what do points of parity represent?

Areas where you need to be competitive, but willnot give you a competitivei advantage

Zach loves the sport of soccer. He is a huge fan of the Brazilian national team. He collects pictures of the team and wears the Brazilian team colors during world cup soccer matches. He hopes to be good enough to play on the Brazilian soccer team some day. For Zach, the Brazilian soccer team is a(n) ____________?

Aspirational group

Frodo was a massage therapist. He was very good at dealing with lower back pain. In his waiting room, he had a framed photograph of Sylvester Stallone along with a letter from the celebrity saying that Frodo was the best massage therapist in the world. Sylvester Stallone appeared in all of Frodo's print and radio advertisements as well. Frodo was using the ___________ approach to making his service seem 'real'?

Association

What is the sociocultural paradox associated with globalization

At the same time globalization is creating a global culture, it is generating more interest in maintaining local traditions and identities

One of the issues facing ____________, people born between 1946 and 1964 is coming to terms with growing older?

Baby boomers

The Ford Motor Company broke new ground when it built the Rouge River plant. In addition to an assembly line, the plant included a steel refinery, and a casting plant. This is an early example of?

Backward integration

The Ford Motor Company broke new ground when it built the Rouge River plant. In addition to an assembly line, the plant included a steel refinery, and a castings plant. This is an early example of_________?

Backward integration

Bruce went into an appliance store to purchase a 32" LCD tv for $799 as advertised in the local paper. When he got to the store, he was told that all of the $799 tv's had been sold, but there was a 32" LCD tv available for $899 that he could purchase today. Bruce may have been a victim of?

Bait and switch pricing

Karel is the office manager for a medium sized-firm in the city. He just made an arrangement with a coffee service for his company. For a one-time fee of $ the company will install a four-pot coffee maker in the office. Each week the coffee service will deliver fresh coffee. Karel can choose from standard coffee for $ a case or premium coffee for $ a case. Creamer, sugar, stir sticks and cups are provided for a nominal fee. Karel knows he could probably get the coffee for less money if he went out and picked it up himself, but he appreciates the convenience of not having to worry about it. In terms of the goods-services continuum, this is an example of a ___________?

Balanced offering

As a rule, when it comes to choosing between advertising media, the higher the ________, the higher the cost?

Bandwidth

Which of the following is NOT a factor that drives competition in an industry?

Bargaining power of government regulators

The Kellogg's Company has spent millions of dollars over the decades advertising its many brands of ready to eat cereal products. In fact, many of the brand characters such as Tony the Tiger; Snap, Crackle and Pop have become well established in the popular culture. Because it would cost a competitor hundreds of millions of dollars to create a brand image comparable to these icons, Kellogg's brand equity is a _____________ in the ready to eat cereal market?

Barrier to entry

When goods and services are exchanged for other goods and services, rather than for money, it is referred to as __________?

Barter

Which of the following statements about Maslow's Hierarchy of Needs is TRUE?

Basic needs such as Physiological and safety have to be satisfied before higher-level needs become motivators.

Why did your instructor make the point that you can't just have "attitude"?

Because an attitude always has to be about something

Why is it so important to take complains about service so seriously?

Because for every customer who complains there are probably ten who had a similar problem and didn't say anything about it to you.

The last group in the diffusion process, non adopters, represents people who will never buy the new product. Why is it important to remember this group when dealing with new product introductions?

Because you need to take all these people into account in order to understand the true market potential for your new product

Why is it important for a marketing manager to be aware of macro-economic indicators such as leading economic indicators and the business cycle?

Because you use different strategies in an "up" market than you do in a "down" market.

The two components of quality are?

Benefits received, consistency

When developing contingency plans, the ____________ scenario assumes that everything that could go either right or wrong goes right?

Best case

Which of the following statements comparing the consumer buying process to the business buying process is TRUE?

Both businesses and consumers solve problems using a five-step process

Which of the following statements comparing the consumer buying process to the business buying process is TRUE?

Both businesses and consumers solve problems using a five-step process They share the same buying process

The best understanding of market dynamics comes when market size is expressed in?

Both dollars and units

Which of the following assumptions about using ethnicity as a segmentation variable is correct?

Both race and culture play a role in consumption patterns.

When I go to the grocery store, I see several different types of Cola products. In addition to Coke and Pepsi in various shapes and sizes, there is RC cola and a store brand of Cola as well. This is an example of ___________ competition?

Brand

Many companies engage in relationship marketing to nurture and grow the _____________ developed while creating brand equity.

Brand Loyalty

The first stage in developing brand equity is to create _________ with your potential market. This is frequently accomplished with advertising?

Brand awareness

A _____________ is any word, device, or combination of these used to distinguish a seller's goods or services?

Brand name

Kendra runs a wholesale distribution center for candy. Each week she receives a truckload of candy from her supplier and unpacks it so that her customers only have to buy a case at a time. Kendra is adding value by ___________?

Breaking bulk

Kendra runs a wholesale distribution center for candy. Each week she receives a truckload of candy from her supplier and unpacks it so that her customers only have to buy a case at a time. Kendra is adding value by_____?

Breaking bulk

The Foreign Corrupt Practices act of 1977 makes it illegal for U.S. businesses to ___________ foreign government officials, even if it is the custom to do so that country?

Bribe

In class we talked about how merchandise assortments can be described in terms of breadth and depth. How would you classify Borders bookstore a large retailer that carries hundreds of books in several different categories as well as videos, CDs and games?

Broad and deep

Bruce was planning to open a coffee shop to compete with the national chains. He planned to serve freshly brewed premium coffee in a pleasant environment along with an assortment of snacks and coffee-related merchandise. How would you rate Bruce's level of competency in this business model?

Bruce is only doing what is expected. He has failed to differentiate himself

Which promotional role might be most appropriate for a product in the post-purchase behavior stage of the consumer buying process?

Build Relationships

Which promotional role might be most appropriate for a product in the post=purchase behavior stage of the consumer buying process?

Build relationships.

The SWOT analysis can be used to develop marketing strategies by ____________?

Building on a strength

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company define marketing strategy for and determine the projected income from a new product?

Business analysis

______________________ is the marketing of goods and services to companies, governments, or not-for-profit organizations purposes other than personal consumption?

Business marketing

A _______ franchise provides step by step procedures for most decisions a franchisee will face?

Business-format

Bruce just purchased a new dishwasher for his home. It was a pretty expensive purchase for him and he had spent several days researching alternatives. After the dishwasher had been installed and was working properly, Bruce found that he couldn't sleep that night because he was worrying whether he had spent too much money on the dishwasher. This is a classic case of?

Buyer's remorse

The group of people in an organization who become involved in the purchase decision are a(the) _________?

Buying center

Baking soda is an ingredient in cooking. It also has the property of absorbing odors. The Arm and hammer company found that many people were leaving an open box of baking soda in their refrigerator to absorb food odors. In order to take advantage of this opportunity, they developed a special package with many air vents specifically for use as a refrigerator deodorant. Arm and hammer used ________ segmentation to develop this product?

Buying situation

The most attractive market segment for fast food restaurants is heavy users (no pun intended). These customers visit fast food restaurants 14 or more times per month on average. This is an example of _________ segmentation in the fast food industry?

Buying situation

Nick is thinking of conducting some market research to help him determine the best colors to use for his new hip-hop CD to be released in February. He knows that he can't just ask people what colors they like. Instead he should develop three or four different examples of what the CD cover might look like. Participants could respond to these ___________ in order to signal their color preferences.

CONCEPTs

Which of the following is NOT a question suggested by ethical legal framework for evaluating marketing decisions discussed in class?

Can I make money doing it?

_____is the loss of sales from an existing product when a new product is introduced.

Cannibalization

Hewlett Packard makes a variety of injet printers for personal computers. You can buy a basic "all in one" printer that scans, copies and prints for less than $99. Replacement in cartridges from Hewlett Packard cost between $30 and $60 depending on whether it is black and white or color ink. This is an example of___________?

Captive Pricing

The Senseo coffee maker is a machine that makes one cup of coffee at a time from specially prepared 'pods' of coffee. You can get the coffee maker at a very reasonable price. However, you can only get refill pods from the manufacturer and they tend to be expensive. This is an example of...?

Captive Pricing

When it comes to carrying inventory in the fashion industry, which approach tends to be the most profitable.

Carry just enough inventory to meet anticipated demand. This will allow you to capitalize on the demand that has been created for the product without the expense of getting rid of excess inventory at a discount price.

________ refers to an approach to merchandising where a retailer may carry several unrelated lines of merchandise in order to meet the needs of its target market?

Category killing

Jiwon has successfully introduced a new kind of candy for college students at the college bookstore. Her candy is selling very well and she is thinking of marketing it nationally. She is not sure if college students are buying it because of the colorful packaging or because it has lots of caffeine. She will have to conduct___ research to determine which factor is responsible for college students buying so much of per candy?

Causal

Santa Claus is trying to estimate demand for toys this Christmas he know there will be 37 billion children because he monitors birth trends across the world he knows from experience that 14% will be naughty this year and get coal rather than presents for Christmas He recently commissioned a research study from Donner + Blitzen associates who found that children stop believing in Santa Clause when they are 58 years old Santa is likely to use the ______ method to forecast demand for toys?

Chain ratio

A _____ is a strategic partnership where one company agrees to sell its products through another company's distribution network.

Channel alliance

A ________is a strategic partnership where one company agrees to sell its products through another company's distribution network.

Channel alliance

In channel of distribution where there are both large players and small players, a _______, usually the largest member of the channel, will assume responsibility for coordinating activities in the channel?

Channel captain

In channels of distribution where there are both large players and small players, a(n) ______________, usually the largest member of the channel will assume responsibility for coordination activities in the channel?

Channel captain

In a market with producers and six retailers, the addition of a wholesaling middleman can decrease the number of transactions needed to have an efficient market form 24 - 10. This is an example of?

Channel conflict

________ occurs when there is a clash of goals and methods between distribution channel members.

Channel conflict

_______occurs when there is a clash of goals and methods between distribution channel members.

Channel conflict

The __________ concept recognizes that there are a set of functions that need to happen in order to move a product from the production to the consumer?

Channel flow

The _______concept recognizes that there are a set of functions that need to happen in order to move a product from the producer to the consumer?

Channel flow

The basic communication model describes how a message is transmitted from a sender to a receiver. The ________ is the medium used to transmit the encoded message to the receiver?

Channel of communication

The basic communication model describes how a message is transmitted from a sender to a receiver. The _________ is the medium used to transmit the encoded message to the receiver?

Channel of communication

The three elements to a brand story are?

Character, plot, metaphor

One of the techniques used during the __________ stage of the personal selling process is to assume that the customer will place an order and begin to discuss the details of the order?

Close

The __________ stage of the personal selling process involves asking for the order?

Close

Intel Corporation created the Intel Inside campaign to make consumers aware that an important component of any computer is the quality of the microprocessor (computer chip that makes the machine work. They negotiated with computer manufacturers to include a sticker on the outside of the computer - regardless of the brand - showing that there was an Intel chip inside. This is a classic example of _____________?

Co-branding

____________ is the development of a product through collaboration by companies, consumeres, supplieres and channel partners in an interconnected network of innovation.

Co-creation

When manufacturers engage in _________, a form of trade sales promotion, a certain percentage of the retailer's sales goes into a fund that the retailer can use to advertise the manufacturer's product?

Co-op advertising

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company introduce the new product into the company's overall product mix?

Commercialization

One of the ironies in brand management is that if you are very successful at creating a branded product so that people start referring to the brand name instead of the product name, you risk losing the right to the brand name. This use of the brand name instead of the product name is called _______________?

Common usage

In dealing with the _____________ issue in sales management, there is a tradeoff between salary and commission?

Compensation

In dealing with the issue in sales management, there is a tradeoff between salary and commission?

Compensation

The _____________ component of the external macro-environment deals with alternate firms that could satisfy a specific market's need?

Competitive

Which of the following would likely motivate a company to take a propogator approach to environmental sustainability as described in Marketing 3.0?

Competitive market for talent

A major drawback to everyday low pricing is?

Competitors can offer their products at a price slightly lower than yours.

According to the instructor, which of the following sources of information is frequently ignored when determining a company's actual market position?

Complaints from dissatisfied customers.

The LOWER the ___________ the more likely people will be to adopt your new product?

Complexity

______is an example of a product normally considered to be a production good in business.

Component parts

BruceCo's marketing information system is powered by a Cray XMT supercomputer and features a wireless internet that is available 24/7 for any manager equipped with a company issued laptop computer. This is an example of the ___ component of marketing information system?

Computer hardware and software

A(n) _________________ targeting strategy focuses on one specific marketing segment with one marketing mix?

Concentrated

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers and repackages it so that a retailer can buy a case of candy bars and have some from every manufacturer in the case. Kendra is adding value by______?

Creating assortment

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. The social responsibility was a high priority for the company so she knew that whatever coffee company she used, it had to be socially responsible. She went online and found three coffee companies that provided equipment and made regular deliveries. The company she chose claimed to be socially responsible. All of the coffee was certified to be fair trade coffee by the Fair Trade Coffee association. Hermione was familiar with the Fair Trade Association and knew that fair trade certification meant the coffee was purchased from small farmers who were paid a fair price for their coffee. Hermione used ____________ to evaluate the quality of the service?

Credence Qualities

In information theory/when sending and receiving information, a ___________ is a method of encoding information?

Cue

A person's food preferences, rituals, and even a sense of what is right and what is wrong can be strongly influenced by his/her ___________?

Culture

According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies develop a performance oriented ____________?

Culture

_________ is a socializing force that determines what is right and what is wrong for most people?

Culture

One of the problems in acting ethically in internationa business is that ______ and _______, the basis of what is right and wrong, can vary from country to country?

Culture, religion

Which of the following would likely motivate a company to take an innovator approach to environmental sustainability as described in Marketing 3.0?

Current exposure to regulation

Which of the following is NOT information that is available categorized by NAICS codes?

Current price data

Doc Robertson Designs is a high end fashion boutique for professional men. As part of their data mining program, they identified customers who had spent more than $1,000 on merchandise in the past and who had not made a purchase in the past 18 months. These customers were invited to an invitation-only sales event where they could purchase anything in the store for 35% off. This is an example of using data mining for _________?

Customer retention

According to your instructor, one of the things that makes the concept of value interesting to marketers is that:

Customers do not always perceive all of the costs or all of the benefits associated with a product

If the demand curve for a product shifts outward then?

Customers will buy more at every price point

Lands End is a successful mail order catalog company. In order to expand their business, they decided to open retail outlets where customers could visit and actually see the merchandise. By analyzing the zip codes from past mail order shipments, they were able to locate the new stores in areas where many of their customers already lived. This is an example of?

Data Mining

____ attempts to identify new business opportunities by analyzing data from past transactions?

Data mining

A(n) ___ is a conscious choice from among two or more alternatives?

Decision

Niles is the marketing manager for Hang Five, a manufacturer of half-price surfboards. He just learned that the largest supplier of surfboard blanks has just declared bankruptcy and that in 30 days the supplier would no longer be able to provide surfboard blanks for Hang Five. Niles is likely to rely on the ___ feature of the company's marketing information system to help this problem?

Decision Support System

Bruce worked for the Ohio table pad company. The table pad industry was created in the early 20th century and became very profitable in the post war ll economic boom. In recent years, the number of table pad manufactures had declined and fewer costumes were buying table pads because of formal dining room were out of fashion and new protective finishes made the need for table pads less obvious to consumers. Table pads were in the ____ stage of product life cycle?

Decline

The goal of the ______ stage of the product life cycle is to maximize profit without investing a lot of resources in the product.

Decline

One of the ways intermediaries create value is to?

Decrease the number of transactions needed to create an efficient market.

When dealing with tangible products, consistency is usually measured in terms of

Defects

Bruce recently went to the eye doctor because he couldn't see clearly enough to do the crossword puzzle in the newspaper. He could see well enough to drive, just not well enough to do the puzzle. His eye doctor said he had presbyopia, a condition that is common in people who are middle aged. The doctor said that Bruce could continue to do the crossword puzzle, but he would need to wear reading glasses. Clearly, a manufacturer of reading glasses would benefit from using a _______segmentation approach.

Demographic

Have you ever noticed that when you fill out a warranty card after making a purchase, the manufacturer frequently asks questions such as how old you are, what your ethnicity is and how much money you earn. These questions suggest that the manufacturer is using_______ to segment the market.

Demographics

Many complicated products such as computers or automobiles are assembled using many component parts. Once a sales forecast for the main product has been established, it is relatively easy to estimate sales of the component products because of the ____________ characteristic of business markets?

Derived demand

Jiwon is thinking of developing a candy specifically for college students. She thinks that college students would buy candy if it had caffeine in it. Before she invests a lot of money in candy making equipment, she conducts ___ research to find out if there is a relationship between caffeine and candy sales for college students?

Descriptive

The first step in using the levels of the product concept is to

Determine what is the core benefit the consumer will receive from the product.

Which of the following is NOT a way perceptual maps can help you with your positioning strategy?

Determine which of two alternative products your customers will prefer.

According to your instructor, what is the easiest way to become the category leader for a product category?

Develop a brand new product that is different from anything else on the market

According to your instructor, what is the easiest way to become the category leader for a product category?

Develop a brand new product that is different from anything else on the market.

Nick is thinking of conducting some market research to help him determine the best colors to use for the cover of his new hip-hop CD to be released in February. He decides that he can invest up to $500 in this research, but he needs to get it done in the next three weeks. Nick is probably in the___ stage of the market research process?

Develop the research plan

Nick is thinking of conducting some market research to help him determine the best colors to use for the cover of his new hip-hop CD to e released in February. He decides that he can invest up to $500 in this research, but he needs to get it done in the next three weeks. Nick is probably in the ____________ stage of the market research process?

Develop the research plan

The three phases of marketing management include?

Developing the marketing plan, implementing the marketing plan, evaluating the results of the marketing plan

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company typically first create a physical prototype of a new product?

Development

In class, we discussed several trends in organizational structure. One of them, the _____________ is the reason business schools incorporate so many group projects in their classes?

Development of cross-functional teams

Which of the following is one of the two questions that should be answered when evaluating a marketing plan according to the material presented in class?

Did we achieve our goals

Sometimes technology can make it difficult to create organizational intelligence. For example?

Different departments may have different databases that are independent of each other

One of the main DISADVANTAGES of interactive data collection is ?

Different interviewers may be inconsistent in how they ask the questions.

Bruce wanted to open a coffee shop. He knew his coffee was way better than anything Starbucks could do because he ran taste tests with people in the neighborhood. He found that people in his area preferred their coffee with just a hint of cinnamon in it. When he opened his first store across the street from a Starbucks store, he ran advertisements in the local paper claiming "Bruce's Brew is the spice of life, " and offered a coupon good for a free cinnamon grinder with purchase of Bruce's Best. Bruce is using a _________ positioning strategy.

Differentiation

In the 3i model of marketing, brand image is a function of _____________ and ____________ ?

Differentiation, brand

_____looks at how new products are adopted by entire populations

Diffusion theory

A marketer interested in selling luxury goods would naturally pay close attention to changes in the amount of?

Discretionary income

When I go to the grocery store, I see several types of cola products. Sometimes, even though I am in the mood for a cool, refreshing Cola, I keep my money in my pocket because I am saving up for a new high definition set. For the Coca Cola Company, this is an example of ____________ competition?

Discretionary income

_____________, is the amount of money a consumer has left after paying for necessities such as food and housing?

Discretionary income

Arwen wanted to open a donut shop where customers could design their own donuts and have them made to order at the time. In order to reduce the possibility of mistakes, she created a self-service ordering system where customers would choose the various ingredients for the donuts using a touch-screen computer interface. Then they would follow along the glass-enclosed production line and watch while her highly skilled workers cooked the donuts from scratch. By using a computer rather than a person to initiate the process, Arwen was using _____________ to make the best use of her highly trained donut makers?

Disintermediation

_____________ is the amount of money a consumer has after paying taxes?

Disposable income

Zach hates the sport of soccer. He especially dislikes the Brazilian national team. He makes it a point never to wear anything that looks like soccer clothing, especially if it is in the colors of the Brazilian team. For Zach, the Brazilian soccer team is a(n) ____________?

Dissociative group

BruceCo is a coffee shop selling custom-brewed coffee to walk-in customers. In order to boost sales, Bruce started a business selling music CD's on the internet. This is an example of the ____________ growth strategy?

Diversification

The product market growth matrix suggests four strategies based on customers and products. Which of the following is the riskiest of the basic strategies suggested by this approach?

Diversification

Frodo was a massage therapist. He was very good at dealing with lower back pain. The walls of his waiting room were covered with framed documents. Some of them were diplomas from the massage schools he had attended. Others were copies of testimonial letters from well known people. Still others were reprints of favorable news articles that had been published in newspapers and magazines. Frodo was using the ___________ approach to making his service seem 'real'?

Documentation

According to your instructor, the value of having a lot of offerings within a product line is?

Each product satisfies slightly different needs which allows you to target different market segments within the product category

If I were scanning the ___ environment, I would be interested changes in the consumer confidence index?

Economic

One of the difficulties in determining ethical behavior in marketing is that __________; the clandestine collection of trade secrets or proprietary information is both illegal and unethical; while collecting marketing intelligence about your competition is necessary?

Economic espionage

One approach to minimizing inventory balances the cost of ordering a product, the cost of holding inventory, the cost of being out of inventory, and the amount of it takes to receive the raw materials after the order has been placed. This mathematical approach is called?

Economic order quantity

One approach to minimizing inventory balances the cost of ordering a product, the cost of holding inventory, the cost of being out of inventory, and the amount of labor it takes to receive the raw materials after the order has been placed. This mathematical approach is called?

Economic order quantity

According to your textbook, which of these is NOT a trend that will lead to the continuing growth of one-to-one Marketing?

Efficiency

Wal-Mart's basic strategy is to provide products to customers at rock bottom prices. Thus their slogan, "Always Low Prices." In order to achieve this strategy, Wal-Mart's supply chain is designed to maximize _____?

Efficiency

Wal-Mart's basic strategy is to provide products to customers at rock-bottom prices. Thus their slogan "Always Low Prices". In order to achieve this strategy, Wal-Mart's supply chain is designed to maximize_______?

Efficiency

The basic trade-off in logistics is between ____________ and ____________.

Efficiency and responsiveness

The two major issues in supply chain management are:

Efficiency and responsiveness

One of the components customers use to evaluate service quality is _____________, or caring, individualized attention to customers?

Empathy

The basic communication model describes how a message is transmitted from a sender to a receiver. In order for this to happen, the message has to be ________ by the sender and ________ by the receiver?

Encoded, decoded.

analyzing it, and predicting its impact on your business?

Environmental scanning

Erik is going to buy a pair of running shoes. Which of the following factors would lead you to believe that buying running shoes is a HIGH involvement decision for Erik?

Erik really isn't into running but a friend told him that he needed to have the right kind of footwear or he would be perceived as a loser by his friends

The first step in developing an advertising program is? The first step in developing an advertising campaign is?

Establish goals for the campaign Establish the target audience

When faced with a decision, ____________ are the moral and legal principles that serve as guidelines how to behave.

Ethics

_______ are moral and legal principles that govern the actions of an individual or a group?

Ethics

Which of the following research techniques is most likely to be used in exploratory research?

Ethnography

According to the discussion in class, which of these is a reason consumers frequently give to justify unethical consumption?

Everybody does it

What is ISO 9000 certification?

Evidence that a company's quality management and assurance meets international standards.

When it comes to services, quality is measured in terms of?

Exceeding the customer's expectations.

One of the strategies during the decline stage of the product life cycle is to sell the product to another company or simply stop production the product. The strategy is called?

Exciting the market

Caterpillar makes heavy equipment for the construction industry. These machines are used hard and need fast and reliable service to keep them running once a customer has purchased one. Because of this, there is only one Caterpillar dealer in any market. This is an example of _____ distribution?

Exclusive

Caterpillar makes heavy equipment for the construction industry. These machines are used hard and need fast reliable service to keep them running once a customer has purchased one. Because of this, there is only one Caterpillar dealer in any market. This is an example of ______distribution?

Exclusive

According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies maintain flawless operational ____________?

Execution

Even if you have never seen a product before, you may have a sense of what it should sell for based on similar products that you have experienced in the past. Marketers need to be aware of this ___________ when they set prices for new products?

Expected price

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. Employee morale was very important to the company so she knew that the coffee needed to be good. She went online and searched for several coffee services. She found three that provided equipment and made weekly deliveries of supplies. She called all three and asked them to come in and put on a demonstration so that the employees could decide which coffee they liked best. The winner of the taste test would get the contract Hermione used ____________ to evaluate the quality of the service?

Experience Qualities

One of the ways that attitudes about a product change over time is through ________________ or experiences with the product after it has been purchased.

Experiential learning

Every time Jiwon goes to the candy counter at the bookstore, they never have exactly what she wants and she believes that there is an opportunity to develop a candy specifically for college students. Because she is not sure what features college students look for in candy, she should conduct ___ research to better understand how college students feel about candy?

Exploratory

Rafael is applying to graduate schools for admission to the MBA program. If he goes part time, it will take four years and cost several thousand dollars. Rafael believes that he needs the advanced degree to get a promotion at his job. Rafael is likely to engage in _________ problem solving as he makes this decision?

Extended

The _____________ environment deals with issues that are beyond your company's ability to control directly?

External

Although you have the ability to decide whether or not to do business with a particular supplier, you can't tell the supplier how to run his or her business. This is why suppliers are part of the _____________?

External microenvironment

The _____________ deals with the factors that affect your company, but are beyond your ability to control directly?

External microenvironment

Bruce ordered a test bank from teachersupplies.com. The cost of the package was $39.95 plus sales tax (you are responsible for California sales tax, even if you order online). He chose to have the product shipped via UPS ground because it was the least expensive shipping option. Teachersupplies.com is using a ___________ approach to geographic pricing?

FOB factory

According to the instructor, which of the following media is the richest information channel?

Face to face conversations

Buyer's remorse affects business customers as well as consumers

False

It is more important to evaluate positive information than it is to evaluate negative information when trying to understand how customers perceive your product.

False

It's more important to evaluate positive info than it is to evaluate negative info when trying to understand how customers perceive your product.

False

____________ is when a business uses one brand name to cover a variety of products?

Family branding Multiproduct

A ____________ is a style that has been adopted by a significant number of people for a reasonably long period of time?

Fashion

An ad for a medical alert device shows a senior citizen who has fallen and is unable to reach the telephone to call for help calling "Help! I've fallen and I can't get up." This situation would not have happened if the senior citizen had the medical alert device attached to her person. This is an example of a(n) _______appeal in advertising.

Fear

The basic communication model describes how a message is transmitted from a sender to a receiver. The only way a sender can know whether the message has been received is through?

Feedback

The three steps for developing a market position (or for developing any strategy, really) are?

Figure out where you are now, figure out where you want to end up, develop a plan to get you from where you are to where you want to be

The three steps for developing a market position (or for developing any strategy, really) are?

Figure out where you are now, figure out where you want to end up, develop a plan to get you from where you are to where you want to be.

In its most basic form, any form of strategic planning is simply a matter of?

Figuring out where you are currently, figuring out where you want to be in the future, and then developing a plan to get you where you want to be.

Bruce company is a small startup with just enough money in the bank to get it through the end of the month. Which market entry strategy might work best for Bruce?

First mover strategy, it is riskier and Bruce company has little to lose if it doesn't work out.

In automating a manufacturing plant , which of these would definitely increase in the short run?

Fixed Cost

____________ are the costs of production that do not change with the number of units produced?

Fixed Cost

My friend who works at a major airline told me that they change their fares once every 30 minutes, on average. They are always monitoring how many seats are sold and how many are available (load factor and how many days until the flight is scheduled. Customers sometimes feel that they are being treated unfairly because no two people on the same flight have paid the same price for their tickets. The airline does this because ____________ are so high that they need to maximize the amount of revenue they can get from every seat.

Fixed costs

Anheuser Busch uses a good, better, best strategy for its line of beer products. Budweiser is the flagship brand and Busch and Michelob are ___________ brands?

Flanker

Which of the following research techniques is most likely to be used in exploratory research?

Focus Groups

The PULL approach to promotion...

Focuses on creating consumer demand for the product.

The PUSH approach to promotion...

Focuses on getting members of the distribution channel to support the product

The PUSH approach to promotion...

Focuses on getting members of the distribution channel to support the product.

The _____________ stage of the personal selling process involves making sure that any promises made to the customer are kept in order to develop a relationship with the customer.

Follow-up

A _______ is the estimated sales of a product for a defined future period?

Forecast

Which of the following statement about fashion is false?

Forecasting is less important for fashion that it is for other products

Which of the following is NOT an internal communication method commonly used in business as discussed in class?

Formal reports, double spaced with fancy covers

The _____________ sales presentation format, frequently used with inexperienced sales representatives involves memorizing a standardized sales presentation?

Formula selling

In order to make sure that potential customers had an opportunity to try their new products under the most favorable conditions, the Apple Computer company began opening a number of retail stores that carry the full line of Apple product and accessories. This is an example of:

Forward Integration

Bruce went shopping at the Hermes store in New York City. This is a very high end fashion store. When he entered the store, an associate asked him what he was looking for. She then escorted Bruce to the neckwear department and had him sit (with a cup of coffee) while she brought out a selection of neckties she thought he might like. After Bruce paid for the neckties, the store had the packages shipped to Bruce's hotel. This is an example of ____________ retailing?

Full service.

A _____________ is one of a set of specialized interdependent activities performed within an organization?

Functional area

Which level of the organization is typically responsible for actually creating value for the organization?

Functional area level

_______________ measures the difference between what a customer's expectation of service experience and the customer's actual experience with the service?

Gap analysis

Bruce is trying to contact the purchasing agent for Starbucks Coffee in order to sell them his new "Bruce's Blend" of coffee. However, each time he calls the buyer, he gets a receptionist who asks him his name and then forwards his call to the buyer's voice mail. This has happened several times now and Bruce is beginning to think that the buyer will never call back. The buyer's receptionist performing the role of _________?

Gatekeeper

Which of the following would likely motivate a company to take an investor approach to environmental sustainability as described in Marketing 3.0?

High brand exposure

Tracy is thinking of marketing a new energy drink. Her target market will be parents of young children who need an energy boost in the car while driving from dance lessons to soccer games. She plans on testing whether or not people will like her new energy drink by offering free samples to students our side of the student union. If the majority of students say they like her product, she will go ahead with the product launch. Tracy may have a problem with the ___ other findings in this market research project.

Generalizability

Which of the following is one of the three primary roles for a salesperson as discussed in class?

Generating transactions

One of the reasons the examples in class may seem obscure to you is that your instructor was born between 1946 and 1964 and most of the students in marketing 431 are members of ______________, born between 1977 and 1994?

Generation Y

The idea behind ____________ is that people who are born at the same time share similar experiences growing up and, therefore are similar in some of their attitudes and behaviors?

Generational marketing

A ______________ or _______________ tries to create the perception of value by eliminating the advertising expense associated with many consumer products?

Generic brand, no-name brand

Marketers recognize that people living in one part of the country may have tastes that are different than people in other parts of the country. For example, when traveling in the southern United States, Iced tea is served with the sweetener already in it while in the Northern states, iced tea is served unsweetened. These differences are the reason that _____________ segmentation can be useful for many products.

Geographic

Shamiya is the marketing manager for a leading mattress manufacturer. She is in the process of developing a market segmentation scheme for her company. Because delivery costs are very high for mattresses, she is likely to consider____________ along with other variables as she develops her plan?

Geography

Many national magazines such as Time or Business Week contain have advertising that is different depending on where in the country the magazine is purchased. These regional editions are useful for marketers trying to communicate with customers who have been segmented according to _______?

Geograpy

With social media marketing, the goal is to...?

Get people to share content with other members of their network

The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The FIRST thing you have to do is?

Get the person's attention

The AIDA model of persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The FIRST thing you have to do is?

Get the person's attention.

Which of the following explains the law of truly large numbers as discussed in class?

Given a large enough group of people, we can predict what a subset will do with respect to your product

Jacky just bought a brand new Lexus automobile. At the same time she spent $, for the car, she bought a service contract for an additional $. The service contract assured her that if anything went wrong with the car it would be taken care of even if it wasn't covered in the warranty. In terms of the goods-services continuum, this is an example of a _____________?

Good dominated offering

The computer term GIGO is used as a caution for those developing marketing information systems. This is because good decisions require?

Good information

Which of the following statements about publicity is FALSE?

Good publicity doesn't cost the marketer any money

Which of the following is NOT a source of internal data used in a marketing information system?

Google searches

_____________ business customers may be the largest single market for goods and services in the world according to your textbook

Governments

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers. She stamps a date sticker on each package so the retailers will know how fresh the candy is. She also provides information on how much cocoa is in the chocolate from the various manufacturers. Kendra is adding value by ________?

Grading

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers. She stamps a date sticker on each package so the retailers will know how fresh the candy is. She also provides information on how much cocoa is in the chocolate from various manufacturers. Kendra is adding value by _______?

Grading

__________ is a strategy that involves a company's efforts to provide, promote and reclaim environmentally sensitive products?

Green marketing

___________ is defined as achieving conventional goals with unconventional methods, such as investing energy instead of money?

Guerilla marketing

Which of the following is NOT an advantage of sustainability according to marketing 3.0?

Happy employees will work for less money

Bruce wanted to open a coffee shop. He knew his coffee was way better than anything Starbucks could do so he opened his first store across the street from a Starbucks Store. He ran advertisements in the local paper claiming "Bruce's Brew is better than Starbucks Stuff" and offered a money back guarantee to any Starbucks customer who was willing to try a cup of Bruce's Coffee. Bruce is using a __________ positioning strategy.

Head to head

BruceCo sells medical devices used in surgical operations. It requires a great deal of training to be able to use these medical devices properly and there is a potential liability to BruceCo if they are used improperly. Because each product has to be numbered and monitored for quality and sanitation, the products must be handled carefully and are expensive. Which of these channels would be best for BruceCo?

Hire a skilled sales force to call on surgeons and educate them about the risks and benefits of your devices

A storage warehouse creates value by?

Holding inventory closer to where customers are likely to use it.

Tami owned the Subway franchise in Centennial Village at San Francisco State University. She heard that another franchisee had been granted permission to open a Subway in the student union. She immediately complained to whoever would listen to her that the new store would take away most of her business. This is an example of?

Horizontal Conflict

Tami owned the Subway franchise in Centennial Village at San Francisco state University. She heard that another franchisee had been granted permission to open a Subway in the student union. She immediately complained to whoever would listen to her that the new store would take away most of her business. This is an example of?

Horizontal conflict

Perception deals with...?

How we interpret the world around us

Which of the following statements about the consumer buying process is FALSE?

Human beings are rational in the economic sense of word and carefully evaluate the available information in order to make the best decision.

Coors light ran a series of beer ads where footage of Bill Walsh, the former head coach of the San Francisco 49ers, taken from the press conferences was edited to make it appear that he was answering questions about beer asked by the intoxicated fans. This is an example of a(n) _______ appeal in advertising?

Humor

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company be seeking input from customers, following up on complaints, listening to employees, analyzing market research and monitoring competitors?

Idea generation

Desiree knows that she does not have very much money. Yet she dreams of being rich and famous like one of those Hollywood stars you see on television all the time. Her one luxury is to buy fashionable designer dresses just like those worn on her favorite television shows. Desiree's desire to be seen as a high-fashion person is motivated by her ____________?

Ideal self image

What do we mean when we say a brand story has no meaning unless consumers are talking about it?

If customers have ownership of the brand mission, they will want to share it with their friends

What was your instructor talking about when he suggested using the "newspaper" standard to determine whether or not a decision you made is ethical?

If everybody you know, including your mother is going to know what you did: what choice would you make?

The law of demand (which is the basis of the demand curve) says?

If prices increase, customers will buy less

Which of these statements best describes the basic norm of business ethics as discussed in class?

In general, people are honest

Which of the following is NOT a reason a company might want to have more than one channel of distribution?

In order to earn back money that otherwise would have been earned by your retail network.

What is the relationship between the richness of an information channel and the ability to stimulate emotions?

In order to stimulate emotions with advertising, you need an information rich medium such as television.

What is a major disadvantage of the market factor analysis method of forecasting?

In order to use it, there has to be a known market factor that correlates with your product's sales.

Which of the statements about costs it TRUE?

In the long run, your revenue hs to exceed your marginal costs.

Bruce is trying to sell his new "Bruce's Blend" of coffee to Starbucks. He met with the buyer and the buyer arranged for Bruce to serve a sample of his new blend to a group of 'tasters' who will taste the coffee and tell the buyer whether or not they think it is any good. These tasters are performing the role of ___________?

Influencer

Which promotional role might be most appropriate for a production the introductory stage of the product life cycle?

Inform.

Thomas Freidman wrote a book about the impact of new technologies and other trend impacting the way business is conducted in the world called The World is Flat. One of the basic premises is that widespread adoption of internet protocols and the seamless connection of computer systems along the supply chain allowing for the efficient flow of _____ to help smooth the flow of goods from raw materials to end user.

Information

Thomas Friedman wrote a book about the impact of new technologies and other trends impacting the way business is conducted in the world called The World Is Flat. One of the basic premises is that widespread adoption of internet protocols and the seamless connection of computer systems along the supply chain allowing for the efficient flow of _____to help smooth the flow of goods form raw materials to end user.

Information

Thomas Friedman wrote a book about the impact of new technologies and other trends impacting the way business is conducted in the world called The World is Flat. One of the basic premises is that widespread adoption of internet protocols and the seamless connection of computer systems along the supply chain allowing for the efficient flow of ________ to help smooth the flow of goods from raw materials to end user.

Information

When I order a book from Amazon.com, an online bookseller, I receive an order confirmation that tells me when my package will leave the Amazon warehouse, the name of the shipper, and a link to the shipper's website that allows me to track the progress of my package from the warehouse to my home. This way I know exactly when to expect my package. This is an example of the use of _______to smooth the flow of goods and services through the channel of distribution?

Information

Paolo was applying for a new job. He sent his resume to Reviewmyresume.com, an online resume consulting company. Two days later, he received his resume back with several suggestions on how he could improve it. Reviewmyresume.com is an example of a(n)____________________?

Information processing

An advertisement for Wishbone Salad Spritzers demonstrates that you can spray salad dressing on your salad and tells you there is only one calorie per squirt. The objective of this product ad is probably______?

Informing

The objective of an advertisement for a product in the introductory stage of the product life cycle is probably______?

Informing

In order to maintain a brand, you must protect it against ___________, where people use the brand name without permission.

Infringement

Sabrina was running a day care center for pre-school children. She decorated the walls with images from the motion picture Finding Nemo. One day she received a letter from attorneys representing Pixar and the Disney Corporation asking her to stop using images from Finding Nemo. Pixar and the Disney Corporation were defending their brand against _______________?

Infringement

According to diffusion theory, the first 25% of the population to adopt a product are called?

Innovators

The basic issue when you are dealing with the __________ characteristic of services is that the customer and the service provider have to be together in order for the service to be produced?

Inseparability

According to the research discussed in class, what is the most important factor affecting the success rate of a new product introduction?

Insignificant point of difference.

____________________ are business customers who purchase products primarily to run the organization.

Institutions

Which of these is NOT a key to success for a company adopting a market orientation?

Insuring every customer transaction is profitable for both the customer and for the company.

When you are dealing with the ___________ characteristic of a service, one approach to marketing services is to make the service seem 'real'?

Intangibility

Most of the functions that need to happen in order to move a product from producer to consumer deal with?

Intangibles

Which of the following is NOT one of the three dimensions to service quality discussed in class?

Intangibles

Starbucks recently announced that is intends to open another 20,000 stores worldwide including several in the united states. Even though it seems as if there is a Starbucks on every corner in America, the company feels there is a need for more outlets. This is an example of _______ distribution.

Intensive

Starbucks recently announced that it intends to open another 20,000 stores world wide including several in the United States. Even though it seems as if there is a Starbucks on every corner in America, the company feels there is a need for more outlets. This is an example of ____ distribution.

Intensive

A(n) _____ is an individual or firm that serves as a go-between when moving products from producer to consumer?

Intermediary

A(n) _________is an individual or firm that serves as a go-between when moving products from producer to consumer?

Intermediary

A(n)____ is an individual or firm that serves as a go-between when moving products from producer to consumer?

Intermediary

The concept of ___________ recognizes that before an organization can effectively take care of customers' needs, it must focus on its employee's needs?

Internal marketing

Annabelle is in a hurry. She is on her way home from school and has to prepare for a job interview the next day. In addition, she has a term paper due in her "Philosophy of Pure Reasoning" class that is due the next day. When she is almost home, her roommate calls her on her cell phone and asks her to pick up some laundry detergent - it doesn't matter what kind - on her way home. Based on what you learned about the consumer buying process, which strategy is Annabelle likely to use in identifying alternative laundry detergents?

Internal or memory based strategies because it is the least effortful approach.

One common strategy to extend the life of a product in the maturity stage of the product life cycle is to ____________?

Introduce incremental innovations

One common strategy to extend the life of the product in the maturity stage of the product life cycle is to ___?

Introduce incremental innovations. *b. Reposition the product to appeal to a new market segment

In general, you have more flexibility in setting your prices in the ____ stage of the product life cycle than in the ____ stage of the product life cycle?

Introductory, maturity

Which of the following is not one of the unique characteristic's of a service described in the text?

Invisibility

A market factor.....?

Is all of these things.

According to the material presented in class, there are two things you need to know about a number if you are planning on using it as a metric. One of them is?

Is it good or bad?

One of the questions you need to ask when identifying the data needed for a research project is?

Is the information worth what it will cost us to obtain it?

The main advantage of primary data is that?

It addresses your specific research question

The main advantage of primary data is that

It addresses your specific research question.

Sometimes companies will agree to a partnership where one company sells its product through another company's distribution network. One of the advantages of this approach is?

It allows the first company to reach customers it might not otherwise have reached.

Sometimes companies will agree to a partnership where one company sells its product through another company's distribution network. One of the advantages of this approach is?

It allows the first company to reach customers it might not otherwise have reaches.

According to your instructor, the value of having a broad product mix is?

It allows you to meet other needs of the customers in your target market, increasing the strength of the relationship with your target consumers

Which of the following is a disadvantage of having more than one channel of distribution?

It could create conflict between the two channels

Which of the following is NOT a characteristic of a good Objective

It is adaptable

Which of the following is NOT a characteristic of a good Objective?

It is adaptable

According to your instructor, when is it appropriate to ask for the order when closing a sales call?

It is always appropriate to ask for the order

Which of the following statements about a decision support system is FALSE?

It is better to wait until after you know what decision you have to support to begin developing the information to support it

The premise behind sales teams is that?

It is difficult to find one person who has all of the skills it takes to be a good salesperson.

The biggest disadvantage to introducing a new product that represents a continuous innovation is that?

It is difficult to gain a sustainable competitive advantage with incremental changes

The biggest drawback to everyday low pricing is?

It is easy for competitors to offer their products at a price slightly lower than yours.

The major advantage of secondary data is that?

It is immediately available

Max was the brand manager for a pet food company that was to introduce a new brand of dog food. Through research, they had discovered that many dogs do not get enough exercise and this new dog food had stimulants added to give these sedate dogs energy. He thought of the brand name "Jump Start Your Fat, Lazy, Puppy" and asked your opinion. You said?

It is not a good brand name because owners do not want to think of their beloved pets as fat and lazy.

In class your instructor presented research about business showing profit leaders generate 39% of sale from new products while profit laggards generate 23% of sale from new products. What was the point he was trying to make?

It is really important for business to develop new products

Age cohorts are an effective basis for market segmentation because

People in the same age group have many similar experiences which could affect their consumption patterns

Increasingly channel partners are working together to coordinate their efforts in order to increase the efficiency of supply chains and distribution networks. One supply network strategy is for the producer to share ordering and production information with suppliers and transportation intermediaries in order to minimize inventory by scheduling raw materials and components to arrive at the time the producer is ready to use them to manufacture products. This strategy is called?

Just in time inventory management

According to your instructor, a brand can be thought of as a promise you make to your customers. In order for the brand to be successful, the promise must be __________ ?

Kept

__________ are society's values and standards that are enforceable in court?

Laws

One of the issues in customer service is _________which recognizes that customer orders cannot always be filled immediately?

Lead Time

One of the issues in customer service is ______ which recognizes that customer orders cannot always be filled immediately?

Lead time

One of the ethical issues in marketing is establishing what is a fair price. Some pharmaceutical companies charge very high prices for life-saving drugs because they need to recover the massive amounts of money needed to bring a new drug to market. While there is no question this practice is ________, there is a question about whether it is ________?

Legal, ethical

One of the ethical issues in marketing is that it may be impossible to make a product that is 100% safe. In that case the company has to make a choice between the price of a product and ________?

Liability

One of the ways to leverage brand equity is to engage in ____________ where you allow others to use your brand name for a fee or other compensation?

Licensing

Pearl went shopping for school supplies at Target. She found the pencils, paper, and binders easily. However, there was a special kind of graphic calculator that her school required and she couldn't find it on the shelf. She pressed the customer assistance button and within a minute a friendly associate was there to help her. The associate told her that they were currently out of stock on the calculator. She could wait until the new shipment arrived tomorrow or, if she wanted to go to a nearby store where the calculator was in stock, the associate would be happy to call ahead and have one reserved for Pearl. This is an example of ________ retailing?

Limited service.

Many small businesses choose to segment their customers geographically because they can effectively to communicate with their customers using _______?

Local newspapers

Which of the following is NOT an issue in creating a retail store's image in the mind of the consumer?

Logistics.

For many products such as candy bars, there is a price consumers expect to pay for the product. Retailers using the _____________ to setting prices will offer the product at a very low price in order to attract customers into their store?

Loss-leader approach

What is the relationship between the strategic planning that occurs at different levels in an organization?

Lower-level strategic plans must fulfill what is called for in higher-level strategic plans

Whenever I go to Safeway, I have to scan my Safeway card to receive the advertised discounts. Sometimes, when I have purchased a certain amount of groceries, the cash register will spit out a coupon good for 5% off my next purchase. This is an example of a _______ promotion?

Loyalty program

People may not be conscious of their true motivation for purchasing a specific product. This is especially true for socially consumed products such as luxury cars and designer fashions. They may say they are purchasing these products because they are of high quality or an excellent value. The real reason is more likely to be:

Luxury products are a way for them to maintain their self image

The _____________ environment deals with issues that affect all companies in an industry?

Macro-

BruceCo is introducing a line of coffee for amateur athletes. They feel that the coffee will have the most appeal for men, aged 25-50, who run three times a week and are likely to participate in one or more races each year. Which advertising medium might be the best way to reach this target audience?

Magazine

In an oligopoly situation, where the demand curve for the product is kinked, what is the best strategy to increase profits?

Maintain price and reduce costs

According to Ries and Trout, consumers organize products into categories in their minds. The goal of positioning is to?

Make it so that your product is the first thing that comes to mind when a category is mentioned.

Younjin is a purchasing agent for Acme enterprises. Currently, the company makes a line of fire-proof file cabinets that are well regarded by its customers. One of her responsibilities is to purchase brochures explaining the benefits of the Acme file cabinets. She was recently authorized to purchase a computerized document management system for the company at the cost of several million dollars. With this new technology, she may be able to print the brochures in the factory rather than ordering them from a printing company as in the past. Younjin will probably treat this as a ___________ decision?

Make or buy

The objective of Marketing 3.0 is to...?

Make the world a better place

Frequently, a retailer will offer a discount from its retail price. This _______ may be in order to move unsold inventory or to increase traffic into the store?

Markdown

Julio is the sales manager for Champion Spark Plugs. Julio knows that there will be a need for 4.6 sparkplugs (on average) for every new car built this year and a need for 0.7 replacement sparkplugs for every car built in the last seven years. Julio is likely to use the ________method for forecasting demand?

Market Factor Analysis

When using a SWOT analysis, an opportunity is an issue that is?

Positive External

Paolo was applying for a new job. He was so discouraged from the lack of interview opportunities that he took the afternoon off and went to see the latest Jean-Claude Van Damme action movie "Service Marketing". The movie is an example of a(n )_____________ service?

Mental stimulus processing

A ___________ is the criteria against which progress toward a goal is measured?

Metric

The _____________ environment deals with the issues that affect your company only?

Micro-

A company choosing to promote diversity as a socio-cultural challenge would likely choose __________ as its target constituents?

Minorities

A ____________ is a formal statement of an organization's scope, often identifying its customers, markets, products, technology, and values.

Mission statement

In values-driven marketing, a company uses ________, ________, and _________ to occupy consumers mind, heart and spirit?

Mission, vision, values

Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is copier paper for the company's copiers. The company makes lots and lots of copies so they use more than 60 cases of copier paper each week. Recently, one of her colleagues, Bruce has been complaining that the copiers are jamming a lot. She thinks it might be because the paper is the wrong kind for the company's copiers. Also, the chairman of the board made a speech to all of the employees stating that the company is going to become environmentally sensitive and there will be bonuses for people who can improve the companies environmental record. Younjin had heard that some recycled paper is as good or better than standard copier paper. She decides to re-think where she is buying her copier paper. Younjin will probably treat copier paper as a __________ decision?

Modified rebuy

__________ is an ethical perspective that believes the motive behind a behavior is more significant than the outcome of the behavior?

Moral idealism

According to you instructor, how does the basic communication model illustrate how important writing skills are to business today?

Most commercial messages go through a written phase regardless of their eventual channel of transmission.

When developing contingency plans, the ____________ scenario represents your best estimate of what actually will happen?

Most likely case

Many television infomercials advertise a product at a very low price. After you order the product, you find there is a fairly substantial shipping and handling charge. When you figure in the extra charges, the product may be more expensive than other, similar products that you were considering. This is an example of a ___________tactic?

Multiple Price

Many airlines advertise low prices on the internet. When you actually book the ticket, you may find that there are destination charges, service, fees and other costs that significantly increase the cost of the ticket. The airlines use this ____________tactic to make their prices appear to be lower to customer who are comparing prices.

Multiple price

Campbell's soup has dozens of different flavors and packages of soup. All of them have the same distinctive red and white packaging. You have to read the label to tell the varieties of soup apart. This is an example of:

Multiproduct branding

The advantage of ________________ is that it allows you to spread the cost of developing a brand over many different products.

Multiproduct branding

A(n)___________ targeting strategy develops more than one distinct marketing mix?

Multisegment

One way to segment markets for business customers is by industry type. This approach is attractive because of __________ which makes it cost effective to measure the number of potential customers in an industry? a. Local media. b. Cable television c. Zip codes d. Salespeople e. NAICS codes Correct

NAICS code

In class we talked about how merchandise assortments can be described in terms of breadth and depth. How would you classify a kiosk at the mall that sells Cingular phones?

Narrow and shallow

A ______________ or _______________ is usually the property of the business that manufactures a product?

National Brand, Producer brand

Which of the following is one of the primary roles for a salesperson as discussed in class?

New customer development

The ______________ is an important factor during the introductory stage of the product life cycle?

New product adoption process

The new product development process has seven stages gong from new product strategy development to commercialization. At which state will a company typically determine the relative importance of new product development to the overall goals for the organization?

New product strategy development

Younjin is a purchasing agent for Acme Enterprises. She is responsible for the company's copiers. The company makes lots and lots of copies so they spend more than $10 million on copies each year. Younjin is considering replacing all of the company's copiers with a networked solution that digitizes all documents and prints them on demand at designated workstations. This system will have to be custom designed for the company and will cost several million dollars. Younjin will probably treat this as a __________ decision?

New task buy

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company typically determine the relative importance of new product development to the overall goals of the organization?

New-product strategy development

One of the advantages of ________ as an advertising medium is that it is a relatively inexpensive way to reach local markets with time-sensitive ads?

Newspaper

Sabrina is thinking of starting a new line of coffee shops. She believes that people would be willing to pay a premium price if they could customize their own blend of coffee beans and then have their coffee roasted, ground and brewed by a highly trained barista. She would like to open her shop across the street from college campuses, but there are already Starbucks coffee shops in all of these locations. Is this business a good candidate for branding?

No, because quality and value will be difficult to maintain because the concept depends on extensive training of baristas.

The basic communication model describes how a message is transmitted from a sender to a receiver. Any of the several factors that could interfere with the ability of the sender to transmit the encoded message accurately are called?

Noise

A(n) ____________ is an organization that frequently is given tax-advantaged status because it provides a service that is considered to be in the public

Non-government organization

In many market situations, such as an oligopoly or monopolistic competition, there is a very strong expectation of what the price for a product should be. In these situations, many businesses engage in ____________ by using advertising, free-product offers or bonus packaging to differentiate their product.

Non-price competition

Two recent trends in retailing, television shopping channels and online selling are examples of?

Non-store retailing

Direct mail, catalog sales, and vending machines are all examples of?

Nonstore retailing.

A ___________ is an organization whose business purpose has been designated as being in the public interest and may have received preferential tax status?

Not-for profit

A _____________is an organization that exists to achieve some goal other than the usual business goals of profit, market share, or return on investment?

Not-for-profit

According to your instructor, the biggest difference between a for-profit service company and a not-for-profit service company is that?

Not-for-profit companies have multiple constituencies that need to be treated as customers.

Sometimes a customer will ask questions during a sales presentation that may suggest the customer does not want to buy the product. The salesperson needs to deal with these _____________ before continuing with the presentation?

Objections

Experience has shown that customers perceive a price of $99.99 to be significantly lower than a price of $100. The pricing strategy that takes advantage of this phenomenon is called __________

Odd-even pricing

Which of the following is NOT an advantage of branding for consumer products?

Once a brand has been established, you do not have to maintain it

Which statement best describes the relationship between customers and brands in Marketing 3.0

Once a brand is successful, your customers own it.

A(n)_________ targeting strategy utilizes customer information to develop long-term relationships with each customer.

One-to-one

Weblogs or 'blogs' have are becoming an important way for Marketers to find...

Opinion leaders

BruceCo is a small coffee company. Recently, the surgeon general announced that students who consume massive amounts of coffee the night before an examination tended to perform better than students who do not drink coffee. In terms of a SWOT analysis, this would be considered a (n) ________ for BruceCo?

Opportunity

The Myers-Briggs personality inventory is one typology discussed in class. Which of the following is NOT one of the dimensions of the Myers Brigs personality inventory?

Optimist-pessimist

Which of the following statements about Optimization is TRUE ?

Optimization is a continuous process.

According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies tend to have flat and flexible ____________?

Organizational structures

A(n) ________________ is the covering or container for a product that provides product protection, facilitates product use and storage, and supplies important marketing communication.

Package

Which of the following is NOT a component of the promotional mix?

Packaging.

Nintendo chose a ______ approach to pricing the new Nintendo DS because they felt the market for this product is price sensitive, there are major economies of scale to be achieved, and both Sega and Microsoft would be introducing new game systems shortly

Penetration

The ______________approach to new product pricing sets prices low in order to gain market share and discourage competitors from entering the market?

Penetration

The product market growth matrix suggests four strategies based on customers and products. Which of the following is the least risky of the basic strategies suggested by this approach?

Penetration

The introductory stage pricing strategy that attempts to gain as much market share as possible, even though it may mean more time before the product becomes profitable is called?

Penetration pricing

The introductory stage pricing strategy that attempts to gain as much share possible even though it make mean more time before the product become profitable is called?

Penetration pricing

One of the main ADVANTAGES of observational data collection is?

People frequently are unaware or unable to say what their true motivation is

One of the main ADVANTAGES of observational data collection is?

People frequently are unaware or unable to say what their true motivation is.

Paolo was applying for a new job. He went to the barbershop to get a haircut in case he got a job interview. The barbershop is an example of a(n) __________ service?

People processing

Which of the following statements about the result of cognitive miserliness is TRUE?

People will choose the first acceptable solution to a problem rather than choosing the best solution to a problem.

What is the essence of the loss aversion principle discussed in class?

People will work harder to avoid a loss than they will to achieve an equivalent gain.

Which of the following is a component of brand equity according to David Aaker?

Perceived Quality

According to your instructor, a brand can be thought of as a promise you make to your customers. In order for the brand to be successful, the promise must be _____________?

Perceived as valuable to your customers.

In class, we discussed several approaches to establishing a promotions budget. Which of these approaches is the one most commonly used in business?

Percent of sales

A _________ is a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands relative to its own and then take marketing action?

Perceptual map

Chez Bruce is the fanciest restaurant in the city. If you want to make a reservation, you have to make it before 4pm or after 8pm. There is so much demand for seats at the restaurant that you have to wait in line during peak hours. Bruce is using this strategy to deal with the __________ characteristic of service provision.

Perishability of Inventory

The basic issue when you are dealing with the __________ characteristic of services is that the time or capacity to provide services is limited and fixed.

Perishability of Inventory

Bruce is introducing a new kind of test grading machine. The machine is very complicated, but it can save college professors a lot of time and money once they understand how to use it. College professors don't watch a lot of television. Which promotional tool might work best in this situation?

Personal selling

Which element of the promotional mix usually compromises the largest part of the promotions budget?

Personal selling

One of the ways personality is useful to marketers is to identify key ___________, or enduring characteristics such as innovativeness, self-confidence, sociability, which will vary from person to person.

Personality traits

Employees at Walt Disney Resorts wear distinctive uniforms and are trained to always be in character when they are visible by the park's guests. They put on their costumes in areas that are not visible to guests so that they will always look the part when they are on the job. This is an example of using __________________ to implement a store positioning strategy?

Personnel

A company in the _____________ stage of the continuum of sustainability will contribute money to a cause that is relevant to the brand mission.

Philanthropy

The two basic sources of motivation discussed in class are?

Physiological, Psychological

Carlina operates an oil refinery in Houston Texas. She gets her crude oil from the largest oilfield in Texas. Because the product is more or less fluid and because she knows exactly where the raw material is coming from and where it has to go, Carlina uses _____Transportation for this part of business?

Pipeline

Carlina operates an oil refinery in Houston, Texas. She gets her crude oil from the largest oilfield in Texas. Because the product is more or less fluid and because she knows exactly where the raw material is coming from and where it has to go, Carlina uses ____ transportation for this part of her business.

Pipeline

Carlina operates an oil refinery in Houston, Texas. She gets her crude oil from the largest oilfield in Texas. Because the product is more or less fluid and because she knows exactly where the raw material is coming from and where it has to go, Carlina uses_______transportation for this part of her business?

Pipeline

The _____________ component of the external macro-environment deals with restrictions state and federal laws place on a business' activities?

Political/legal

In describing network communities, Marketing 3.0 suggests a ___________ is a group of people who have a connection to the brand while a ___________ is a group of people who are connected to each other in the context of a brand community.

Pool, web

In addition to determining the amount of money you will receive for your product, price serves as a __________tool, signaling to customers where your product stands in relation to similar product offerings?

Positioning

Which of the following is NOT one of the four roles for promotion discussed in class?

Positioning

___ is understanding how customers perceive your product and managing their perceptions relative to competing products ?

Positioning

_________ is a strategy aimed at developing a specific marketing mix to influence customers' overall perception of a brand, product line, or organization in general?

Positioning

In the 3i model of marketing, brand identity is a function of _____________ and ____________ ?

Positioning, Brand

In the 3i model of marketing, brand integrity is a function of _____________ and ____________ ?

Positioning, differentiation

During the _____________ stage of the personal selling process, it is important to learn as much about the customer as time and money allow you to do?

Pre approach

The McKay 66 is a list of questions every salesperson at the McKay envelope company was expected to know about his or her customers. Obviously, the _____________ stage of the personal selling process is important at this company?

Pre approach

Manny opened a coffee shop right across the street from a Barstucks coffee shop. Manny had studied the market and he knew that it cost Barstucks, a national chain, $1.40 to make a cup of coffee that sold for $2.50. Manny could make the same cup of coffee for $1.10 and could sell it profitably for $2.25. The day he opened his shop, the Barstucks across the street offered a 99cent cup of coffee special. No customers came to Manny'store and he had to close. The day he closed his store, the Barstucks 99 cent special ended. This was probably?

Predatory pricing

It is not unusual for experienced salespeople to tell a joke or an interesting anecdote before getting down to business' with the customer. These people recognize the importance of the _____________ stage of the personal selling business.

Presentation

The _____________ is the heart of the personal selling process and the object is to convert a prospect into a customer?

Presentation

When using the consultative approach to selling, the first part of the _____________ stage of the personal selling process involves asking a series of questions so that the salesperson can understand the customer's needs?

Presentation

When using the consultative approach to selling, the second part of the _____________ stage of the personal selling process involves developing a proposed solution to the customers need?

Presentation

Which of the following is NOT one of the components customers use to evaluate service quality according to your text?

Price

_________ is the money or other considerations exchanged for the ownership or use of a product or service?

Price

_________ is what is given up in an exchange to acquire a good or service?

Price

Colgate Palmolive created a special package that included a free regular-sized tube of toothpaste when you purchase a family-sized tube of toothpaste at the regular price. This is an example of?

Price bundling

Colgate Palmolive developed a new line of Colgate brand mouthwash. As part of the introduction, they included a free sample of Colgate mouthwash with every tube of Colgate toothpaste. This is an example of?

Price bundling

Sometimes companies will sell a product below their cost of production for a short period in order to gain market share or to reduce excess inventory. This ____________ can be risky, especially if competitors match the reduced price making it difficult to raise prices back to long-term profitable levels.

Price floor pricing

Which of the following statements about the relationship between price and cost is FALSE?

Price has to be higher than total cost

For companies operating in an oligopoly market structure, prices tend to be very stable. In these situations, the company with the largest market share might raise its prices in hopes that other, smaller companies will follow. If this happens, the price will increase. This is called the ____________ to setting prices?

Price leadership approach

Companies that have several products in the same category might use _________as a way to establish different positions for each product in the category in the mind of the consumer?

Price line Strategy

Mordred had been sued by a former business partner. The partner was seeking $10,000 in damages. Mordred felt that this claim was totally unfair. He went to the law firm of Merlin, Guinevere, and Arthur, LLC. He was told that a junior associate could handle his case for $ and hour or a senior partner could handle the case for $ and hour. When he asked why there was such a difference in the rates, he was told that the senior partners were in such high demand that they were trying to discourage new clients. This is an example of _____________?

Price rationing

___________are factors that limit the range of prices a firm may set for its products?

Pricing constraints (organizational)

Huyen wanted to answer the research quesiton, "What causes students to be unhappy with Marketing 431". Because nobody had done any research even remotely related to this particular question, Huyen needed to collect___ data?

Primary

The VALS system identifies eight consumer segments based on (1)_______and (2)________?

Primary motivation, resources

One of the ethical issues in marketing is that data mining techniques where information from several databases is combined may be a violation of a customer's _________?

Privacy

Typically, ______________ is done by the retailer of a product rather than by the manufacturer.

Private branding.

A ______________ or _______________ is usually the property of the retailer that distributes and/or sells a product?

Private-label brand, Distributor's brand

A_____ sample means that every person in the population of interest has a known chance of being included in the research.

Probability

When I go to the store, I see several different types of cola products. Normally I prefer Coke Zero, but sometimes I am in the mood for a different kind of soft drink. I may buy an energy drink, or a Snapple, or even head over to the mall for a Jamba Juice. For Coca Cola, these are other soft drinks are examples of _____________ competition?

Product

Which of the following is NOT a typical application of data mining as discussed in class?

Product Abandonment

Which of the following is NOT a typical application of data mining as discussed in class?

Product abandonment

BruceCo is a coffee shop selling custom-brewed coffee to walk-in customers. In order to boost sales, Bruce started selling CD's of the music played in the store. This is an example of the ____________ growth strategy?

Product development

Which of the following is NOT a cost typically associated with logistics?

Product development

Which of the following is NOT a cost typically associated with logistics?

Product development *b. Advertising Correct

Each of the individual _____ in a product line are frequently assigned a unique SKU number.

Product items

Which of the following is an example of a marketing-controlled source of information?

Product labels

The _____ is a concept that explains how products go through four distinct stages from birth to death.

Product life cycle

The four 'P's are?

Product, price, promotion and distribution (place)

According to your instructor, in addition to the legal and ethical dimensions of a decision, whether or not a proposed action is _______ will have an impact on the outcome of the decision?

Profitable

In order for a firm to have an increase in market share as a pricing objective, it is assumed that the firm has?

Profits

Yuli is the California regional manager for a shutan lotion company. Tomorrow morning she must meet with supervisor for her annual performance review. In preparation for the meeting, she prints a copy of a routine___ showing her performance for the year compared to her goals.

Progress report

Yuli is the California regional manager for suntan lotion company. Tomorrow morning she must meet with her supervisor for her annual performance review. In preparation for the meeting, she prints a copy of a routine___ showing her performance for the year compared her goals.

Progress report

According to your instructor, the world is quickly becoming a place where companies that fail to _______ will find themselves at a disadvantage in terms of reaching customers and finding good employees?

Promote diversity

Which of these is NOT an 'environment' typically covered in an encironmental scan?

Promotion

Which of these is NOT an 'environment' typically covered in an environmental scan?

Promotion

________________________ is communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response.

Promotion

Mickey was hired by Metropolitan Life Insurance Company as a sales representative. The first task was to generate a list of 100 close friends and relatives who might be interested in talking about life insurance. This is an example of the ____________ phase of the personal selling process?

Prospecting

Which of the following is NOT a perceptual benefit of packaging?

Protect the product from excessive heat or cold

Which element of the promotional mix usually compromises the smallest part of the promotion budget?

Public relations

_________ is the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance?

Public relations

BruceCo is planning to introduce a new line of blended coffee for amateur athletes. In addition to running newspaper ads, BruceCo wrote a press release describing the new product and its benefits. The press release was sent to local newspaper s television stations. This is an example of using _______ to promote a product?

Publicity

Advertisers frequently engage in __________ where they exaggerate the benefits of the product without actually making a false claim about the product?

Puffery

Sanjeev was opening a new shrimp farm in Louisiana. Shrimp is the number one selling seafood in the United States and he felt that growing demand would allow a new business to succeed. In order to convince the buyer at Winn Dixie grocery stores to carry his product, he ran coupons in the local newspaper where Winn Dixie had stores offering customers a free 16 ounce bag of frozen shrimp. Sanjeev was using a _______ promotion strategy?

Pull

Sanjeev was opening a new shrimp farm in Louisiana. Shrimp is the number one selling seafood in the United States and he felt that growing demand would allow a new business to succeed. In order to convince the buyer, Winn Dixie grocery stores to carry his product, he ran coupons in the local newspaper where Winn Dixie had stores offering customers a free 16 ounce bag of frozen shrimp. Sanjeev was using a _______ promotion strategy?

Pull.

The market structure in which companies have the MOST flexibility in setting prices is?

Pure monopoly

When using mirroring to select a channel partner as described in Marketing 3.0, the easiest characteristic to identify is...?

Purpose

Which of the following scenarios would probably be considered to be deceptive reference pricing?

Putting a brand new product in a store and marking it at 30% off regular prices.

Sometimes it is not feasible to conduct causal research because meeting all of the conditions( for example a probability sample when you aren't sure how many people are in the population). In these cases researchers may conduct___ research which is almost as good?

Quasi-experimental

Which of the following sampling rechniques is nonprobability sample as listed in your text?

Quota sample

Carlina operates a wholesale lumber business serving contractors in her Midwestern city. She takes orders from a central location and delivers the lumber and other building materials to the contractor's jobsite using her own trucks. She orders her lumber from a mill in Washington State. Because the lumber is bulky and she orders large quantities, she uses ________transportation for this part of her business?

Rail

Which of the following IS a probability sample?

Random sample

After years of steadily declining sales, the amalgamated telephone book company adopted new product development as a strategic priority for future growth. This is an example of the _______________ approach to new product development.

Reactive

Many sales managers report that _____________ is a high priority for them because turnover in the sales force is so high that they are always looking for good people?

Recruitment and selection

In the maturity stage of the product life cycle, profits can be increased by?

Reducing your costs

A _______________ is an actual or imaginary group that has a significant impact on a person's evaluations, aspirations or behavior?

Reference group

The three circles positioning framework presented in class suggests using all of the following EXCEPT ___________ to help clarify a market position?

Related industries

When we say a measure is __________ we mean that it relates directly to the goal it is intended to measure?

Relevant

Bruce is afraid he is gaining weight. He got on the scale this morning and he was 10 pounds heavier than he was last night. He got on the scale again after breakfast and he had lost 10 pounds. Just before leaving for school he got on the scale again and he was 5 pounds lighter than he was after breakfast. Clearly, there is a problem with the ___ of Bruce's weigh measurements?

Reliability

According to your instructor, what is a major disadvantage of the trend analysis method to forecasting?

Relying on statistical analysis means you risk ignoring foreseeable environmental factors.

The primary audience for press kit is?

Reporters

Roxanne has completed her positioning analysis and believes she understands why her adult milk beverage has been performing so badly. Her product was the first product to use aseptic packaging, which allows milk to be stored at room temperature for long periods of time. Introduced in 1999, the product was positioned as a survival food because everybody was worrying about Y2K problems at the turn of the century. Today people are more concerned about nutrition and her aseptic milk is very low in fat. To take advantage of this, she changes her advertising slogan from "It will keep you alive in the next century" to "A healthy beverage, ready and waiting". Roxanne is trying to

Reposition her product against itself

Roxanne has completed her positioning analysis and believes she understands why her adult milk beverage has been performing so badly. Her product was the first product to use aseptic packaging, which allows milk to be stored at room temperature for long periods of time. Introduced in 1999, the product was positioned as a survival food because everybody was worrying about Y2K problems at the turn of the century. Today people are more concerned about nutrition and her aseptic milk is very low in fat. To take advantage of this, she changes her advertising slogan from "It will keep you alive in the next century" to "A healthy beverage, ready and waiting". Roxanne is trying to?

Reposition her product against itself

Roxanne has completed her positioning analysis and now understands why her line of adult milk beverages has been performing so badly. There are too many competitors out there and she hasn't been able to gain market share from the category leader - Bruce's Power Gulp, a vitamin enhanced milk beverage. She believes there are people out there who would prefer a less - processed product at a lower price. She decides to change her advertising slogan to "The Fresh Alternative to enhanced milk beverages". Roxanne is trying to?

Reposition her product against the competition

Roxanne has completed her positioning analysis and now understands why her line of adult milk beverages has been performing so badly. There are too many competitors out there and she hasn't been able to gain market share from the category leader - Bruce's Power Gulp, a vitamin enhanced milk beverage. She believes there are people out there who would prefer a less-processed product at a lower price. She decides to change her advertising slogan to "The Fresh Alternative to enhanced milk beverages". Roxanne is trying to?

Reposition her product against the competition

Coca Cola's basic strategy is they you should never be more than an arms length away from a cold, refreshing Coke. In order to achieve this strategy they try to make Coke products available for sale through as many outlets as possible. You can buy bottled Coke in the grocery store, fountain coke at a restaurant, single cans and bottles at convenience stores and gas stations, and individual cans from vending machines while you are waiting in line for a ride at an amusement park. Because the goal of the supply chain is to maximize ______, Coke is willing to bear the expense of having several different channels of distribution?

Responsiveness

_______________ is all of the activities involved in selling, renting, and providing products to ultimate consumers for personal, family or household use?

Retailing

_______________________ is all of the activities directly related to the sale of goods and services to the ultimate consumer for personal, non-business purposes?

Retailing

The concept of ______ deals with the flow of returns and recyclable material from the end user to the producer?

Reverse Logistics

The concept of _________ deals with the flow of returns, and recyclable materials from the end user to the producer

Reverse logistics

The concept of _______deals with the flow of returns, recyclable materials from the end user to the producer?

Reverse logistics

The product life cycle consists of two curves which show the expected ____ and ____ of a product over time

Sale, profits

A marketing organization that using (the) _____________ can be structured around geographic territories, product groups or customers?

Sales specialization

The major advantage of _____________ is that it allows salespeople to spend less time doing paperwork and more time in front of the customers?

Salesforce automation

_________ refers to an approach to merchandising where a retailer may carry several unrelated lines of merchandise in order to meet the needs of its target market?

Scrambled merchandising

___________ refers to an approach to merchandising where a retailer may carry several unrelated lines of merchandise in order to meet the needs of its target market?

Scrambled merchandising

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will identify feasible ideas and turn them into product concepts?

Screening and evaluation

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. She went online and searched for several coffee services. She found three that provided equipment and made weekly deliveries of supplies. She chose the supplier that advertised the lowest price. Hermione used ____________ to evaluate the quality of this service?

Search qualities

Huyen wanted to answer the research Q, "what causes students to be unhappy with MKTG 431?" Although no one had conducted research on MKTG 431, there were hundreds of studies that had been done about why students are unhappy with college classes. Huyen was able to take advantage of this ___ date to answer her research Q?

Secondary

Huyen wanted to answer the research question, "What causes students to be unhappy with Marketing 431"?" Although no one had conducted research on marketing 431, there were hundreds of studies that had been done about why students are unhappy with college classes. Huyen was able to take advantage of this __________ data to answer her research question?

Secondary

Huyen wanted to answer the research question, "What causes students to be unhappy with Marketing 431?" Although no one had conducted research on marketing 431, there were hundreds of studies that had been done about why students are unhappy with college classes. Huyen was able to take advantage of this ___ data to answer her research question?

Secondary

Many retail stores use "secret shoppers," people who pretend to be customers, go into a store and do all sorts of things. They take notes and are able to report back what is really happening in the stores. This technique is used for __________ ?

Secret shoppers are used for all of these things

Thomasville furniture decided to reduce the number of dealers carrying its line of fine furniture. Stores who wished to carry Thomasville were required to dedicate at least 10,000 square feet in their store for a Thomasville gallery. This meant that only the larger dealers in a given market would be able to carry Thomasville. This is an example of_____distribution?

Selective

Sameer does not smoke. Every day he walks past a billboard advertising Camel cigarettes. In class, the instructor was talking about how much cigarette advertising is around us and described the billboard advertising Camel cigarettes as an example. Sameer was surprised by this. He had walked by the billboard every day, yet he had never noticed that it was an advertisement for cigarettes. This is an example of _____________?

Selective attention

One of the ethical issues in distribution is for retailers to require manufacturers to pay_______ to ensure placement of new products in a store. This practice is legal, but there is a question of whether it deprives customers of their right to chose under the Consumer Bill of rights?

Slotting fees

Bruce is a fan of the Minnesota Vikings Football team. He was watching a game between the Minnesota Vikings and the San Francisco Fortyniners on San Francisco television station. He expected that the announcers would favor the local team and it appeared that he was right. Even though a national media agency gave the local announcers an award for the most unbiased coverage ever in a televised football game, Bruce remained convinced that the announcers had favored the local team. This is an example of ______________?

Selective interpretation

Confirmation bias recognizes that people will be more likely to believe someone who agrees with what they already think than someone who disagrees with what they think. Confirmation bias is the result of:

Selective interpretation

The familiarity effect is a consequence of...?

Selective retention

Which of the following would be considered a higher-level need according to points of parity represent/Maslow's hierarchy of needs?

Self Actualization

Which of the following is NOT recommended by your instructor as good source of information to use in understanding your current market position?

Self knowledge

Allen had lunch at Automat. This is a trendy new restaurant where the customer selects ready-made sandwiches, soups, salads, desserts, and drinks from little compartments along a wall. He then places the selections on a tray, takes it to the check out section, scans each item, and pays for it with a debit card before going into the dining area to eat. There is a crew of cooks who replace items people select from the other side of the wall. This is an example of ___________ retailing?

Self-service

The objective of Marketing 1.0 is to...

Sell products

The thing that distinguishes advertising from public relations is that advertising communications are __________?

Sent over a medium

A ____________ is an intangible activity or benefit that an organization provides to consumers in exchange for money or something else of value?

Service

A ______________ is an intangible activity or benefit that an organization provides to consumers in exchange for money or something else of value?

Service

When it comes to retail, the price-value heuristic means that when you are in a store that has what you perceive to be high price; you would expect to receive exceptional _________?

Service

Delilah just bought a new cell phone. She signed a contract that gave her, anytime minutes, voice mail, call forwarding, ringtones, the ability to download mp3's, and free calls to others who used the same service. The cell phone was free as long as she agreed to use the service for two years. In terms of the goods-services continuum, this is an example of a _____________?

Service dominated offering

One of the challenges we face in managing services is that both the customer and the service provider work together to create the service. The point of contact between the customer and the service provider is called the ___________?

Service encounter

Bruce Co. is an inventory liquidator. The company identifies other businesses that have huge amounts of unsold inventory and buys it from them at pennies on the dollar. They then try to find another company that can use the inventory and sell it to them for a profit. What makes this business so fun is that you never know from day to day what product you will be dealing in, or who might be a prospective customer. Which of these channels would be the best for Bruce Co. to adopt?

Set up a series of regional warehouses to keep inventory nearer to the customer.

One of the ways to empower employees discussed in Marketing 3.0 is through?

Shared decision making.

According to your instructor, which of these tools used in materials handling is a recent (last 50 years) innovation that has revolutionized the shipping industry.

Shipping containers

One if the advantages of _______ is that they can be moved from one platform to another without having been loaded or unloaded. Names such as piggyback and fishyback relate to the variety of transportation options?

Shipping containers

One of the advantages of _________is that they can be moved from one platform to another without having been loaded or unloaded. Names such as piggyback, fishyback, relate to the variety of transportation options.

Shipping containers

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union looking for a snack. He noticed that he could buy ice cream for $3 including tip. He thought that he could save a lot of money if he had a refrigerator in his office. They are sort of expensive and take up space so he would probably have to do some looking. H went online and found a number of small refrigerators . Armed with the information about what should be available and what good price would be, he stopped at three appliance stores before selecting a refrigerator for his office. In terms of product classification, a refrigerator is an for Bruce.

Shopping good

Destination retailing recognizes that in addition to satisfying needs through purchasing products, for many people, shopping is?

Shopping is all of these.

The key to success with the _____________ approach to selling is to contact as many people as possible and hope that one of them will be interested in your product?

Shotgun selling

Which of the following is NOT a measure of success for a social business enterprise (SBE)?

Shrink disposable income

Eseffisue Company has developed a portable solar positioning (GPS) device. There is a high demand for the product and until now , there wasn't anything like it on the market at any price. The company has a patent and the most important attribute a GPS device is quality. Eseffisue Company should use a _________ approach to pricing this product?

Skimming

Huyen wanted to conduct market research to find out why students were unhappy with Marketing 431, probably the finest course ever to be offered by a university. In order to do this she needed to find people who were unhappy with the course. Figuring that these people would talk to each other, she used a sampling technique where she found one person who was unhappy with the course and, after asking her research questions, asked this person for the name of another person who was unhappy with the course. This technique is called ___ sampling?

Snowball

Why is it important to understand the assumptions that went into the research when you are making recommendations?

So you don't overgeneralize - or read more into the data than is actually there

________________ consists of the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests and behavior can be grouped.

Social Class

The _______ approach to social responsibility in business believes that a company is has obligations to the environment as well as the general public?

Societal responsibility

The _____________ component of the external macro-environment deals with the demographic characteristics of a population and its values?

Socio-cultural

Which of the following is NOT a characteristic of a product line?

Sold to different customer groups

One of the barriers to creating intelligence within an organization is?

Sometimes people don't do the paperwork asked of them

One of the barriers to creating intelligence within an organization is?

Sometimes people don't do the paperwork asked of them.

A dynamically continuous innovation is?

Somewhere in the middle of the new product continuum

A dynamically continuous innovation is?

Somewhere in the middle of the new product continuum.

One of the ongoing demographic trends in this country is the migration of population to the _____________ and _____________?

South, West

One of the ways intermediaries create value is to?

Specialize in one or more channel functions in order to become better at it in than others in the channel.

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tires. So he went over to the student union for a bowl of ice cream. All they has was Dryers Ice Cream and Bruce was really in the mood for Gaagen Daz. So he walked over to Stonestown mall in order to get a bowl of haagen Daz ice cream even though he really didn't have the time. In terms of product classification, Haagen Daz ice cream could be best describes as a for Bruce?

Specialty product

Chun has developed a line of insect repellent with no bad chemicals in it. She used psychographic segmentation to define her primary segment as environmental activists. Which of the following is the WORST way that Chun could communicate with this segment?

Sponsor a fishing tournament where the first prize is a sport utility vehicle

A _________ is a public relations activity where companies provide financial support to help fund an event in return for the company's contribution.

Sponsorship

The _________ approach to social responsibility in business focuses on obligations to those who can affect a company's ability to achieve its objectives?

Stakeholder responsibility

May large retail stores use _____________because it would be impractical to calculate the price for thousands of items individually?

Standard markup pricing

Which of the following was NOT one of the bases for market segmentation discussed in class?

Statistics

For many products such as candy bars, there is a price consumers expect to pay for the product Companies using the _______ to setting prices will use this price for their products?

Status quo pricing approach

The ___________ sales presentation format involves asking a series of questions hoping that one of them will appeal to the customer?

Stimulus-response

Kendra runs a wholesale distribution center for candy. Each month she receives a shipment of candy from her supplier. She always has enough inventory on hand so that her retail customers can buy cases if candy whenever they need it. Kendra is adding value by ______?

Storing

Kendra runs a wholesale distribution center for candy. Each month she receives a shipment of candy from her supplier. She always has enough inventory on hand so that her retail customers can buy cases of candy whenever they need it. Kendra is adding value by _________

Storing

Kendra runs a wholesale distribution center for candy. Each month she receives a shipment of candy from her supplier. She always has enough inventory on hand so that her retail customers can buy cases of candy whenever they need it. Kendra is adding value by_________?

Storing

Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is the copier paper for the company's copiers. The company makes lots and lots of copies so they use more than 60 cases of copier paper each week. Younjin will probably treat copier paper as a ____________ decision?

Straight rebuy

A _______________ is a distinctive mode of presentation or performance?

Style

Alexis is the furniture division sales manager for a textile (cloth) manufacturing company He has a team of 15 salespeople who call on 200 customers regularly over the course of the year. These customers account for 85% of Alexis company's sales and buy 80% of the textiles used for furniture in this country Alexis is likely to use the _______ method to forecast demand?

Survey of buyer intentions

Which of the following research techniques is most likely to be used in descriptive research?

Survey questionnaire

BruceCO is a company that makes products for the coffee industry. They subscribe to IRI's (Information Research incorporated) market watch newsletter to help them understand what is happening with caffeine in retail stores. This is an example of ___ in marketing information system?

Syndicated reports

BruceCo is a company that makes products for the coffee industry. They subscribe to IRI's (Information Research incorporated) marketwatch newsletter to help them understand what is happening with coffee in retail stores. This is an example of _____________ in a marketing information system?

Syndicated reports

Which of these is NOT generally considered to be digital marketing?

TV advertising

The biggest difference between a merchant wholesaler and an agent or broker is that the wholesaler?

Takes ownership of the products it carries.

The Broyhill furniture company designed a sofa that retailer could sell for $699 and still make a profit. This was because retailers had told the company they needed a promotional sofa that would cost less than the $1000 or more for the typical sofa. They would feature the promotional sofa in their advertisements to bring customers into the store. This is an example of?

Target profit pricing

The _____________ component of the external macro-environment deals with inventions or innovations from applied science or engineering research?

Technological

There are many factors that influence the evolution of retail concepts. Certainly in the past few years, ____________, especially the widespread diffusion of the Internet has had a huge impact on the retail landscape?

Technology

There are many factors that influence the evolution of retail concepts. Certainly in the past few years, _____________, especially the widespread diffusion of the Internet has had a huge impact on the retail landscape?

Technology.

The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The LAST thing you have to do is?

Tell the person what you want them to do.

Which of the following is NOT a characteristic of a product line?

Tend to be the same from company to company

Roxanne has developed a new adult milk beverage that is enhanced with vitamins. There has never been a product like this before and she is wondering how many cases she should manufacture in the first year of production. Roxanne is likely to use the __________ method to forecast demand.

Test market

Lindsay Wagner, the Bionic Woman of television fame, appears in ads for the Sleep Comfort Adjustable bed. In the ads she explains how the ability to change the level of firmness in the mattress has changed her life. This is an example of a(n) _______appeal in advertising?

Testimonial

Lindsay Wagner, the Bionic Woman of television fame, appears in advertisements for the Sleep Comfort Adjustable bed. In the advertisement, she explains how the ability to change the level of firmness in the mattress has changed her life. This is an example of a(n) __________ appeal in advertising?

Testimonial

What do we mean when we say that, from the consumer perspective, new products span a continuum from small, incremental changes to radically different products?

That 'newness' is hard to define and new could mean different things for different products

In discussing the impact of the internet on channels of distribution, we talked about disintermediation and reintermediation. What do we mean by reintermediation?

That as most of the functions associated with distribution are information-based, businesses are likely to emerge using internet-based solutions to solved distribution problems more efficiently than brick and mortar businesses can.

In discussing the impact of the internet on channels of distribution, we talked about disintermediation and reintermediation. What do we mean by reintermediation?

That at most of the functions associated with distribution are information-based, businesses are likely to emerge using internet-based solutions to solve distribution problems more efficiently than brick and mortar businesses can.

What did the authors of Marketing 3.0 mean when they said Maslow's hierarchy of needs should be inverted?

That creativity and self actualization are important even to people who are struggling to survive.

What do de mean when we speak of the price/value heuristic?

That in general, people perceive a product with a higher price to be a better product

In discussing the impact of the internet on channels of distribution, we talked about disintermediation and reintermediation. What do we mean by disintermediation

That intermediaries that specialized in functions performed more efficiently by the internet will disappear.

In discussing the impact of the internet on channels of distribution, we talked about disintermediation and reintermediation. What do we mean by disintermediation?

That intermediaries that specialized in functions performed more efficiently by the internet will disappear.

What do we mean when we speak of a "defensible" decision?

That the decision incorporated all of the relevant information available at the time the decision was made.

What was your instructor talking about when he claimed that "there is no such thing as a good decision or a bad decision at the time you make it"? True or false

That you never know the outcome of a decision until after it has been made and you can see the results. True

Which of the following is NOT one of the "rights" included in the Consumer Bill of Rights proposed in the 1960s?

The right to cancel a purchase

Hewlett Packard uses Intel chips in its laptop computers. Through an amazing marketing effort, demand for HP laptops is 5% over what was projected. When they contact Intel to increase their chip order by 5% they are told that the price for the new chips will be double because Intel doesn't have any excess capacity. Because demand is strong, Intel builds a new plant to manufacture chips. The following year, demand for HP laptops is down 5%. Intel can't sell all of the chips from its new plant so it offers HP a 75% discount if they will buy more chips than they have already ordered. This is an example of ______________?

The acceleration principle

The augmented product on the layers of the product concept refers to

The actual product along with other features such as a service guarantee and cool packaging that enhance the value of the core benefit delivered to the customer

Two powerful influences on a company's ethical culture are its code of ethics and _________?

The behavior of people in the company

The actual product, in the levels of the product concept refers to

The bundle of tangible and intangible attributes we normally think of as the product

Warranties can be either expressed or implied. An expressed warranty means that?

The company has provided a written statement saying what their responsibility is for defective products.

The central level of the levels of the product concepts consists of:

The core benefit that a consumer will get from the product

Which of the following is an example of context information available from a mobile device such as a smartphone?

The direction a person is moving.

Which of the following is NOT something you should consider when developing market segments?

The ease of communicating with the segment

In a market with producers and six retailers, the addition of a wholesaling middleman can decrease the number of transactions needed to have an efficient market from 24 to 10. This is an example of?

The economies of transactions

the biggest problem with sales promotions is that?

The effects tend to be short lived

What is the relationship between a SWOT analysis and an environmental scan?

The environmental scan identifies issues that are relevant to the strategic planning process; the SWOT analysis evaluates key issues in terms of the organizations strengths and weaknesses.

The supply chain centers on the producer. Downstream activities consist of?

The flow of finished product from the producer to the end user

Raul purchased a microwave oven. He brought it home, plugged it in and nothing happened. Bummer. So he immediately returned it. The customer service representative was unwilling to let Raul return the microwave saying that they did not allow returns on electronic merchandise. Raul pointed out that even though there is nothing in writing, _________________ means that if the microwave doesn't work he can return it. Period. End of story.

The implied warranty of merchantability

Which of the following is a difference between inside selling and outside selling?

The job may involve extensive travel.

What is the relationship between the law of truly large numbers and market segmentation?

The law of large numbers is an abstract concept that helps us understand why market segmentation works.

According to your instructor many strategic plans are not implemented well because...?

The long-term strategic objectives are not translated into specific, actionable tasks to be done by people in the organization

According to your instructor many strategic plans are not implemented well because...?

The long-term strategic objectives are not translated into specific, actionable tasks to be done by people in the organization.

Warranties can be either express or implied. An implied warranty means that?

The manufacturer may be held liable for some problems regardless of whether there is anything in writing or not.

Which of the following is a condition that must be met before you can consider a group of people to be a market segment?

The market potential of the group must be large enough to make it economically viable. Similar to each other, but different from others, reachable and economically viable.

The threshold level of perception is...?

The minimum difference in a stimulus that a person will notice

In Marketing 3.0, with an authentic brand mission...?

The mission comes first, financial results come second

Which of the following statements about an organization's mission statement is FALSE?

The mission statement is something that only applies at the corporate level

What do we mean when we speak of the length of a product?

The number of choices within a product category

What do we mean when we speak of the richness of an informational channel?

The number of different information cues the channel can carry.

BruceCo planned to introduce a new line of herbal coffee in its coffee shop. Using chain ratio method, they est. they would have 300 ppl walk thru the door everyday and that 1/3 of these ppl would notice a sign advertising the new coffee and ask bout it. if the prices were the same as its regular coffee, they est. half of the ppl would try the new blend. if the price were higher than the regular coffee, they est. only 1 out of 10 would req. the new blend. the goal was to sell 50 cups of the new blend ea. day. which of the following would be an outcome measure assoc. with the plan?

The number of people who walked through the store each day

According to your instructor, how many segments should a company target?

The number that allows you to maximize profits with the resources available to you.

According to your textbook, what is the most significant determinant of the type of new car purchase?

The presence of children in the family

Which of the following statements about the product life cycle is TRUE?

The product life cycle deals with aggregate demand over the lifetime of a product

Which of the following buying criteria is a business buyer likely to use and an individual consumer NOT likely to use?

The production capacity of the supplier firm. *The impact on the channel of distribution.

When I was a young man (not too long ago) Big Box retailers - very large, free-standing specialty stores were very popular. Today many of these stores such as Toy'R'Us and Party Supplies Warehouse, stand empty. This could be explained according to ___________?

The retail life cycle

When I was a young man (not too long ago) Big Box retailers - very large, free-standing specialty stores were very popular. Today many of these stores such as Toys'R'us and Party Supplies Warehouse, stand empty. This could be explained according to ____________?

The retail life cycle

Which theory of retail evolution proposes that new retail concepts emerge, become popular, are widely imitated and then fade away?

The retail life cycle

Which of the following is a major disadvantage of the test-market approach to forecasting.

The time it takes to conduct the test market may put you at a competitive disadvantage in the marketplace.

What is the 80-20 rule?

The understanding that 80% of your business comes from 20% of your customers

Which of the following statements about new product development is TRUE?

The vast majority of new products introduced to the market place fail.

Wal-Mart started out as a low-cost, low-status retailer. The company's success was founded on a policy of eliminating cost from retailing and passing the savings along to the consumer. Recently the company has been experimenting with high-end products such as big-screen televisions and fine jewelry. This move could be expected according to ____________?

The wheel of retailing

Wal-Mart started out as a low-cost, low-status retailer. The company's success was founded on a policy of eliminating cost from retailing and passing the savings along to the customer. Recently the company has been experimenting with high-end products such as big-screen televisions and fine jewelry. This move could be expected according to _______________?

The wheel of retailing

Which theory of retail evolution proposes that retail stores become successful and upgrade their product lines (and prices) it creates an opportunity for a new, low cost retail form to enter the market?

The wheel of retailing

Which theory of retail evolution proposes that retail stores start out as low-price low-status stores and then gradually move upscale as the business grows?

The wheel of retailing

One of the factors driving the trend toward increasing participation is

The widespread availibility of inexpensive technology

What do we mean when we speak of ad "clutter"?

There are so many advertisements out there that is hard for marketers to get people to notice their ad.

John Wannamaker is reputed to have said "I know that half of my advertising dollars are wasted, I just don't know which half." This illustrates a major problem in evaluating advertising effectiveness, which is?

There is a low correlation between running an advertisement and a change in sales.

Which of the following is a condition that must be met before you can consider a group of people to be a market segment?

There must be a way to communicate with them.

Which of the following is an example of a direct channel of distribution?

These are all direct channels of distribution

Which of the following is an example of a direct channel of distribution?

These are all direct channels of distribution.

In discussing the impact of the internet on channels of distribution, we talked about disintermediation and reintermediation. What do we mean by disintermediation?

These are all examples of disintermediation

A successful brand adds value to a product because?

These are all expressions of the value of brand equity

Brand equity is the value a brand name adds to a product. This value can be expressed in terms of?

These are all expressions of the value of brand equity

Which of the following is a form of price?

These are all forms of price

Which of the following is a form of price?

These are all forms of price (An insurance premium, The annual salary of professional athlete, A salesperson's commission, Tuition for Marketing 431)

The reason integrated marketing communications campaigns are so powerful is that?

These are all reasons why integrated marketing communications can be so powerful. (They recognize that people receive information from many different channels, they focus all promotional activities on a single promotional objective, there is a cumulative effect of many different iterations of the same message, all areas of the company are sending a consistent message to the customer)

One of the reasons there is confusion between the marketing plan and the business plan is that

These are all reasons why there is confusion between the marketing plan and the business plan for an organization

In order to implement a strategic marketing plan, long-range strategic objectives need to be broken down into short-range tactical objectives so that each unit of the organization understands?

These are all things each unit of the organization needs to understand in order to implement a strategic plan

Gandalf opened a tobacco shop in the Haight/Ashbury District. He wanted to create a distinctive brand personality for the store, so he insisted that all of the employees wear purple robes and long, pointed hats while they were on duty so they would all look like wizards to customers. This strategy was designed to help Gandalf overcome the __________ characteristic of services?

Variability (Inconsistency

When you are dealing with the ____________ characteristic of a service, one approach is to institute procedure manuals and training programs so that your service employees will know how they are supposed to deal with customers.

Variability (Inconsistency

____________ are the costs of production that are tied to and vary with the number of units produced?

Variable Costs

Increasingly channel partners are working together to coordinate their efforts in order to increase the efficiency of supply chains and distribution networks. One supply network strategy is for a retailer to share sales information with suppliers so that the suppliers can take responsibility for replenishing the stores inventory with the necessity for placing an order for every shipment.

Vendor managed system

Increasingly, channel partners are working together to coordinate their efforts in order to increase the efficiency of supply chains and distribution networks. One supply network strategy is for a retailer to share sales information with suppliers so that the suppliers can take responsibility for replenishing the stores' inventory without the necessity of placing an order for every shipment. This is called?

Vendor managed system

I can't believe it, said Wiley Coyote. I am the president of Acme enterprises and we make $200,000 a year profit with me working my tail off. Our distributer, Road Runner Representatives, made over $800,000 in commissions. I don't understand why they are making all of that money when all they do is run around all day and say beep-beep to customers. I think we should lower the commission rate to bring their income down to a more reasonable level. This is an example of?

Vertical conflict

One way groups of independent businesses can compete with large retail chains is to form a ___?

Vertical marketing system

The term ____ refers to professionally managed and centrally coordinated marketing channels. Choose one answer.

Vertical marketing systems

What is the difference between the supply chain and the value chain?

Very little. The value chain concept simply recognizes that in an efficient network, each member of the supply chain adds value to the product as it moves from raw material to the end user

What is the difference between the supply chain and the value chain?

Very little. The value chain concept simply recognizes that in an efficient network, each member of the supply chain adds value to the product as it moves from raw material to the end user.

Which of the following is NOT a factor a business customer is likely to consider when making the decision to purchase an industrial product?

Visa or mastercard

Frodo was a massage therapist. He was very good at dealing with lower back pain. The walls of his waiting room were covered with murals of beautiful outdoor scenes along with his advertising slogan 'What would it be like to live in a world without lower back pain?'. There was soft, relaxing music playing in the background. He used these same themes in his print and radio advertisements. Frodo was using the ___________ approach to making his service seem "real"?

Visualization

Which of the following is a condition necessary for exchange to occur?

Voluntary participation.

One of the ethical issues in marketing is that some market segments, such as children or the elderly, may not fully understand the choices they are being asked to make. What is the proper approach to marketing to these _________ ?

Vulnerable groups

A _____________ is the statement indicating the liability of the manufacturer for product deficiencies?

Warranty

Carlina operates a tofu making factory in Taiwan. She uses soybeans grown in Northwest Ohio for her tofu because they are very high quality and the prices are low. Soybeans will keep fro a very long time without spoiling. Because her main concern is how to get the thousands of bushels of soybeans to her factory fro the least cost, Carlina uses _____ transportation for this part of her business?

Water

Carlina operates a tofu-making factory in Taiwan. She uses soybeans grown in Northwest Ohio for her tofu because they are very high quality and the prices are low. Soybeans will keep for a very long time without spoiling. Because her main concern is how to get the thousands of bushels of soybeans to her factory for the least cost, Carlina uses _____ transportation for this part of her business?

Water

Which of the following is a question that should be answered in the 'define the problem' stage of the market research process, well before any money is invested in the project?

What action will we take based on the results on the research?

When it comes to managing services, some people find it helpful to think of it as a service encounter with roles for both the service provider and for the customer. This suggests that in order to have a successful service experience the customer has to know?

What he or she is expected to do in order to create the service.

According to your instructor, whit is one of the issues in creating a channel of distribution NOT normally covered in business courses?

What is it about your product that would make it attractive for channel partner to work with you?

Companies adopting __________ believe that the organization exists to satisfy customers wants and needs.

a marketing orientation

According to your instructor, what is it that causes salespeople to be so annoying, especially for postponable purchases such as used cars?

When a salesperson is on 100% commission, they have nothing to lose by trying to convince you to buy the product, even after you have indicated you are not interested.

What was your instructor talking about when he said America likes a Winner and gave those ridiculous - I mean interesting - examples about people landing on the moon?

When it comes to positioning, it is better to hold the position of category leader in a smaller category than to be second place on a larger category.

According to the information in class, the fundamental issue in geographic pricing tactics is?

Whether the buyer or the seller pays for the cost of transporting the product to the customer

Which of the following is not something you should consider while developing market segments?

Whether you have used too few variables to develop your segment

Which of the following is NOT something you should consider when developing market segments

Whether you have used too few variables to develop your segments

Which of the following is NOT something you should consider when developing market segments?

Whether you have used too few variables to develop your segments.

A __________ is a person who reports unethical behavior in a company?

Whistle blower

One of the major issues in designing computer systems to support a marketing information system discussed in class is?

Who has permission to enter and /or edit information in the database.

One of the major issues in designing computer systems to support a marketing information system discussed in class is?

Who has permission to enter and/or edit information in the database.

Which of the following forms of promotion is he most influential?

Word of mouth

Which of the following forms of promotion is the most influential?

Word of mouth.

BruceCo is an inventory liquidator. The company identifies other businesses that have huge amounts of unsold inventory and buys it from them at pennies on the dollar. They then try to find another company that can use the inventory and sell it to them at a profit. What makes this business so fun is that you never know from day to day what product you will be dealing in or who might be a prospective customer. Which of these channels would be the best for BruceCo to adopt?

Work with a broker to negotiate deals with any customer who wishes to purchase what BruceCo is trying to liquidate.

BruceCo makes novelty products such as whoopee cushions and plastic vomit. The company sells about $2 million dollars worth of product. The major customers for BruceCo products are small, independent novelty shops that will typically order less than $200 worth of product at a time. Which of these distribution channels would be the best for BruceCo to adopt?

Work with a distributer who carries a variety of products sold in novelty shops.

According to your instructor, if you can't live with the consequences of your ___________ scenario, don't implement the plan?

Worst case

When developing contingency plans, the ____________ scenario assumes that everything that could go either right or wrong goes wrong?

Worst case

It has been said that no two people on an airplane pay the same price for a ticket Prices tend to be lower if you are willing to book your trip well in advance and tend to be much higher if you have to book your trip on short notice A non-refundable ticket costs less than a refundable ticket Airlines use this ______ in order to maximize the revenue they earn from each flight?

Yield management pricing

Price elasticity is the slope of the demand curve. When price elasticity is HIGH?

You can increase revenues by cutting prices

Price elasticity is the slope of the demand curve . when price elasticity is LOW?

You can increase revenues by increasing prices

The point of discussing the different bases for segmenting markets was?

You can use any combination of segmentation variables to develop market segments that work for you organization.

One of the disadvantages of bringing a discontinuous innovation to market is?

You may have to spend a lot of effort helping customers understand the value of the new product

Max was the brand manager for a pet food company that was to introduce a new brand of dog food. Through research, they had discovered that many dogs do not get enough exercise and this new dog food had stimulants added to give these sedate dogs energy. He thought of the brand name "Playful Puppy" and asked your opinion. You said?

You said all of these things, and meant them.

What was your instructor talking about when he mentioned a 'consideration set' during the lecture on the consumer buying process?

You were physically unable to take the test during the entire two-week period it was available and can prove it with a doctor's excuse or other external documentation

The Bay Area Regional Transit Authority (BART) operates a light rail system in the bay are. Passengers purchase a ticket with a magnetic strip that keeps track of how much money is on the ticket. The cost for a ride is anywhere from about $3 to about $10 depending on how far you are going. You can go to any of the downtown stops for the same price. BART is using ___________ geographic pricing?

Zone delivered price

Which of the following is NOT a source of information for a typical Marketing Information System? a. All of these are sources of information for a typical marketing information system. Correct b. Marketing intelligence c. Marketing research d. Acquired databases e. Internal data

a. All of these are sources of information for a typical marketing information system. Computer systems is NOT

Bruce's Angels is a not-for-profit organization that makes the world a better place. Bruce learned that a member of his board of directors had decided to resign from the volunteer position so that he could pay more attention to his business. Later that day, Bruce learned that two of his key staff people were leaving because they had received a very attractive job offer from the former board member's company. It was clear that the board member had recruited these people for his company before he resigned from the board. According to the ethical legal framework, the behavior of this board member would be considered...?

a. Unethical but legal

In ________________, competitors in the same industry meet to negotiate the price they all will charge to their customers?

a. horizontal price fixing

Which of the following is NOT an issue typically addressed in developing a channel strategy?

advertising

________________ is paid messages placed in any of the mass media by an identified sponsor in order to persuade members of a particular target audience about products or ideas?

advertising

Which of the following is NOT a common application of marketing analytics programs? a. Optimization b. All of these are applications of marketing analytics programs. Correct c. Cluster analysis d. Data mining e. Predictive modeling

b. All of these are applications of marketing analytics programs

Which of these is NOT an evaluation point for business decisions according to the ethical legal framework? a. Goal setting b. All of these are evaluation points for business decisions Correct c. Methods to achieve the goal d. Consequences e. Motives

b. All of these are evaluation points for business decisions

Bruce Company is a small startup with just enough money in the bank to get it through the end of the month. Which market entry strategy might work best for Bruce Company?

b. First mover strategy, it is riskier and Bruce Company has little to lose if it doesn't work out.

For a store using ______________, many items will go on sale each week?

b. High-low pricing

What was your instructor talking about when he suggested using the "Facebook" standard to determine whether or not a decision you made is ethical?

b. If all of your Facebook friends, including your mother, will know what you did; what choice would you make?

why did your instructor make the point that you can't just have attitude?

because an attitude always has to be about something

_____________ are the set of moral rules that govern how businesses operate, how decisions are made, and how people are treated?

business ethnics

Demand for a ______________ is derived.

business good

In a(n) __________________ situation, multiple suppliers are invited to submit proposals for a contract to supply a or service to a business customer?

competitive bidding

Roxanne has completed her positioning analysis and has decided that she needs to reposition her product to a more attractive segment. In order to do this she needs to consider? a. What are her competitors likely to do when they notice she is changing her strategy b. Does she have the money to make the change c. Whether the organization can support the new product position d. She needs to consider all of these things. Correct e. What changes she will need to make to the product

d. She needs to consider all of these things.

Which of these is NOT an advantage of television as an advertising medium?

d. There is a low access cost

The quotation "I know that half of my advertising budget is wasted; but I don't know which half" illustrates the fundamental problem with measuring the effectiveness of promotions. The problem is?

d. There is not a direct link between promotion expenditures and sales performance

Which of the following is an example of a direct marketing channel? a. My niece Polly who sells hand-made jewelry at tables she rents at craft shows and art fairs. b. The Dell Corporation which sells computers to consumers through its company owned website. c. My brother in law Don who custom builds homes for customers on their property. d. These are all direct channels of distribution. Correct e. The Avon Corporation which has company-paid salespeople sell cosmetics door to door

d. These are all direct channels of distribution. Correct

The product market growth matrix suggests four strategies based on customers and products. Which of the following is NOT one of the basic strategies suggested by this approach?

differentiation

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union looking for a snack. He noticed that he could buy ice cream for $3 including tip. He thought that he could save a lot of money if he had a refrigerator in his office. They are sort of expensive, take up space, and last a long time, so he would probably have to do some looking. He went online and found a number of small refrigerators. Armed with the information about what should be available and what a good price would be, he stopped at three appliance stores before selecting a refrigerator for his office. In terms of product classification, a refrigerator is a(n) for Bruce?

durable good

Which of these is a major constraint to consider when developing a research plan? a. The time managers spend discussing the project with researchers. b. The salaries paid to in-house market researchers. c. The shelf-life of the market opportunity addressed by the research. d. Fees paid to an outside market research firm. e. All of these are constraints to be considered when developing a research plan.

e. All of these are constraints to be considered when developing a research plan.

The value of having a wide product mix is?

e. It allows you to meet other needs of the customers in your target market, increasing the strength of the relationship with your target customers.

Merchandise assortments can be described in terms of breadth and depth. How would you classify a kiosk at the mall that sells Cingular cellular phones?

e. Narrow and shallow

During the _____________ stage of the fashion cycle, mass produced fashions are available at lower prices.

economic

Wal-Mart's basic strategy is to provide products to customers at rock bottom prices. Thus their slogan, "Always low prices." In order to achieve this strategy, Wal-Mart's Supply chain is designed to maximize ________________ ?

efficiency

Grocery stores frequently put new products in high visibility locations such as the end of an aisle or near the checkout lanes. This makes consumers who might be thinking about buying a similar product aware of the new product. The tactic affects consumers who are in the_____________________ stage of the consumer buying process.

identify alternatives

When it comes to setting budgets, a bottom-up budget....?

is developed by the managers responsible for implementing the plan

Many complicated products such as computers or automobiles are assembled using many component parts. Once a sales forecast for the main product has been established, it is relatively easy to estimate sales of the component products because of the ____________ characteristic of business markets?

joint demand

____________ in the diffusion of innovations process are less influenced by advertising and more likely to consider word of mouth information when deciding to adopt a new product.

late majority

In automated marketing, a prospect's _______________ is continually updated based on interactions with the company?

lead score

A __ specifically excludes things such as damaged caused by the customer, from warranty coverage?

limited warranty

A ____________ is a collection of key marketing metrics organized in a way to highlight patterns of performance?

marketing dashboard

Unlike personal selling, advertising is ____________?

mass communications

The two major costs associated with an advertising campaign are?

media, creative

According to your textbook, the internet appeals more to ________ who find it an easy way to shop for clothing and gifts

men

One of the strategies during the decline stage of the product life cycle is to stop spending money on advertising continue to sell the product as long as customers are willing to buy it. This strategy is called?

milking the product

A(n) ______________ is an organization created to provide a public or mutual benefit other than the pursuit or accumulation of profits for investors.

not for profit

Which of the approaches to developing a promotions budget is theoretically the best one to use?

objective-task

______________ involves creating clickable ads and paying to have them displayed in sponsored listings?

paid search

Value is a function of ___________ and ___________?

perceived benefits, perceived price

Which of the following is NOT a situational influence on the consumer buying process?

personality

The _________________ channel flow deals with the movement of the actual product from producer to consumer?

physical possession

Frodo was a massage therapist. He was very good at dealing with lower back pain. He gave his clients a book that they could use to keep a record of their visits to his practice and record their thoughts and feelings about therapy. In the front of the book was a beautiful picture and an inspiring poem that would remind his clients that lower back pain can be treated with a visit to Frodo. By using the book, Frodo's patients could benefit from his practice even if he wasn't with them personally. Frodo was using the _____________ approach to making his service seem 'real'?

physical representation

A marketing channel always includes?

producer

A marketing organization using (the) ____________________ will have a set of marketing functions such as sales, advertising, research, for each product line?

product structure

As long as an action is ____________ some people will do it even if it is considered to be illegal or even unethical?

profitable

Sanjeev was opening a new shrimp farm in Louisiana. Shrimp is the number one selling seafood in the United States and he felt that growing demand for shrimp would allow a new business to succeed. In order to find customers for his product, he sent samples of his 16 ounce package to the seafood buyers of the 15 largest grocery store chains. Along with the sample was an offer for 50% off the wholesale cost of shrimp for the first order. Sanjeev was using a ______________ promotion strategy?

push

Which of these is NOT a tool used in materials handling?

safety stock

A major benefit of ____________ is that it allows salespeople to spend less time doing paperwork and more time in front of customers.

sales force automation

Marketers of products such as Valentines Day chocolates frequently use a ______ advertising scheduling tactic.

seasonal

Which of these is NOT a measure generally used in marketing?

share of budget

________ is (are) forms of electronic communication through which people create online communities to share information, ideas, personal messages, etc?

social media

A _______________ is a public relations activity where a company makes a financial or in-kind contribution to another organization in exchange for public recognition of the company's association with the organization?

sponsorship

According to Marketing 3.0, the two forces driving businesses to adopt sustainable practices are __________ and _______________ ?

the need for future growth, call for strong differentiation

Which of the following is NOT something you should consider when developing market segments

the number of people in a segment

Two of the major constraints on any market research project are...

time and money

When we say a measure is ______________ we mean that results can be determined soon enough to use the feedback in improving performance.

timely

For new products that have a major benefit to the customer, but the benefit is not obvious by casual inspection, ____________ becomes an important factor in whether customers will adopt the new product?

trialability

A durable good is a consumer product that is expected to last three years or more.

true

A memorandum of understanding summarizes key points in a business agreement.

true

According to the ethical legal framework, it is important to balance the goals of all stakeholders when setting goals for the business.

true

Earned content is more credible than sponsored content.

true

If you are the first to use a brand name in business you have the right to use that name even if another company later trademarks the same brand name.

true

Large corporations use crowdsourcing campaigns to fund new product development, even if they don't need the money raised through crowdsourcing to develop the product idea

true

Many products don't make it past the introductory stage of the product life cycle because late stage buyers are not as forgiving as innovators when there are imperfections in the new product.

true

Most business people are honest and keep their word when they make a promise..

true

One of the advantages of the three circles positioning framework is that it shows you where your competitors are wasting their time.

true

One of the way our perceptions are biased is that we don't see things that are really there.

true

The basic elements of store architecture are pretty much the same today as they were 200 years ago.

true

Tracy is thinking of marketing a new energy drink. Her key selling proposition will be that her product tastes just as good at room temperature as it does when it is ice cold. She plans on testing whether or not students will like her new energy drink by showing pictures of her drink and the other leading brands to students outside the student union. If the majority of students prefer the picture of her product, she will go ahead with the product launch. Tracy may have a problem with the ___________ of her measurement in this market research project.

validity

___ is a function of benefits received and their cost

value

A __ is a statement that a product is fit for the purpose being claimed and describing what the seller will do if the product performs below expectations or is defective?

warranty

According to the sidebar in the textbook, confusing products are a problem for the electronics industry. A rule of thumb is that one returned computer...

wipes out the profit from the sale of two others