Marketing Concepts Final Exam

Conducting a focus group

Your company wants to conduct an exploratory study to gain new insights into some product changes you are considering. Which type of research method would be most appropriate for this exploratory study?

Provide motivation for the employees of the firm

A good mission statement should

Selling-related

Adrienne wants to be successful in her selling career, so she strives to improve her _______ knowledge by working on her sales abilities and understanding different selling techniques.

False

As a form of advertising, packaging does very little to promote the brand. True or False?

Adapting the brand

When Disney opened a park in Paris named Euro Disney, it assumed that the authentic Disney experience would be popular there. However, the American brand policies, such as now wine consumption in the park, didn't play well with the European consumer and the park struggled. This demonstrates the importance of

Site Speed

When Eros visited a website to search for motorcycle parts, the site took longer than expected to load, so he clicked on a different site. This primarily demonstrates a problem with

Reliability and Validity

When designing a research study, what two things do marketing researchers hope their measures exhibit?

Concentrate on the unique aspects of the product that sets it apart from the competition

When highlighting a products competitive advantage based on attributes, a firm will

They must convince donors to support the mission of the organization without receving any direct benefit

When it comes to marketing for nonprofit organizations, what obstacle must marketers overcome?

Marketing Analytics

When marketers evaluate whether a marketing campaign was successful by using metrics to measure performance, they are enagaged in

Direct Ownership

Which method of entering a foreign market carries with it the most risk?

Nike developed a new type of shoe that is unlike any on the market and requires custom fitting

Which product carries the most potential for its company but also the most risk?

In a supply chain, products flow downstream, finances flow upstream, and information flows both upstream and downstream

Which statement is accurate regarding the way a supply chain works?

Nonprofit

You are designing a marketing campaign to help the American Red Cross recruit new members and volunteers to assist its organization. This type of marketing is referred to as

Revenue; profit

_________ is/are calculated by multiplying units sold by price, whereas ________ is calculated by subtracting costs from revenue.

False

Branding is less critical for non-profit organizations because they do not have to generate profits or satisfy customers' needs with products. True or False?

An influencer

Carey, a professional chef, maintains an Instagram page called Carey's Table. On it, she shares recipes and cooking tips with her followers, and she often mentions products and companies that she likes, lending credibility to the brands. Carey's goal is to connect with like-minded people and gain a following. Carey could be considered.....

Tailor customer promotions

Carla buys most of her groceries at Marianos. Once a month she receives coupons in the mail for items she has purchased in the past at the store. A firm that uses CRM data generate coupons for customers based on their past purchases is using the CRM data to....

Continual buy

Chantelle orders the same coffee pods each month for the same price from the same supplier. This is an example of a

Dumping

Chinese products sometimes sell for less money in the U.S. than they do in China. This hurts domestic companies in the U.S. by causing unfair competition. This is called

Age

Chobani, a maker of specialty yogurts, has expanded its product line to include "Gimmies," a specialty yogurt supported by a set of characters that are designed to appeal to children. For this product Chobani is segmenting the market based on

True

Companies employing qualitative research tools may use focus groups and consumers interviews generate in-depth responses from customers regarding their likes and dislikes of a promotional program. True or False?

True

Companies that maintain high ethical standards for it's sales personnel help the firm build relationships with customers as well as develop a positive work environment for its employees. True or False?

Water Transportation

Compare the various modes of transportation. Which one has a low cost and very high capacity, but is slow in delivery?

True

Customers are more price sensitive the higher the product's price is relative to the customers' price expectation. True or False?

Unplanned Purchases

Dana headed to the shoe store to replace the everyday flats she usually wore to work. However, she also bought two other pairs of shoes because they were so cute she could not resist. These additional purchases are called

Reseller

During the fall, The Home Depot offers consumers a variety of mums, pumpkins, gourds, and seasonal decor items. In this situation, Home Depot is considered a(n)....

Individuals will be less willing to participate in research

Ethical standards are important to the marketing research industry because they help gain the trust of consumers. With that trust....

Loyalty Program

Every time Darla buys a pair of shoes from DSW, she gets points on her account that translate into money off a a later purchase. This is an example of the sales promotion technique

Dynamic Pricing

For an airline, the price of economy-class seats on any given flight may fluctuate over time. For example, the airline may try to fill economy-class seats by lowering the price as the day of the flight draws closer, or try to fill business-class seats first by raising prices on economy tickets. This is an example of

Laggards

From a marketing standpoint, which group of product adopters should marketers spend the least amount of time and effort in convincing them to buy a product?

Unethical

Hiring people to tap phone lines or place surveillance cameras on the premises of rival companies are examples of ________ competitive intelligence practices.

Decline

If a company is using coupons or buy-one-get-one-free promotions to reduce the existing inventory of a product, that product is most likely in what stage of the product life cycle?

Live Streaming

In an attempt to sh0w your customers how your product can be used, you decide to broadcast a real-time video through Vimeo to your followers via the Internet. This branded content approach is referred to as.....

Complex purchase situations

In contrast to tools such as advertising and sales promotion, personal selling is often a much more effective tool in

Consistent

In order to capitalize on the opportunities social media provides, marketers must implement a social media presence that is

The top left part of the search results page

In search engine marketing, the "golden triangle" refers to

Market Summary

In writing the situation analysis for the marketing plan, Tasha is focusing on the current state of the market. This section is part of the

Price Discrimination

Located on a college campus, Howie's Hot Dog Hut charges $3.99 for its deluxe dog basket. However, students receive a 10 percent discount off the price for showing their student ID. This is an example

Places customer service as a high priority

Maintaining and enhancing good customer relationships begins with a company culture that

True

Marketing strategy becomes more accountable when organizations base decisions on analytics. True or False?

Co-branding

Pottery Barn and Sherwin-Williams created an exclusive line of paints that they promoted on Pottery Barn's website as complementary to its furniture. This is an example of

Operational Efficiency

Retailers that make sure their supply chain, inventory, and sales systems are able to connect with one another are concerned with which aspect of retail marketing strategy?

The triple bottom line

Rycraft Manufacturing, formed a committee to investigate how it can better address the economic, social, and environmental impacts the company's products have on its brand and its community. What is the company addressing?

Describe the products advantage's in comparison with alternatives

Salespeople using the feature-advantage-beenfit approach should incorporate which sales presentation strategy?

Subscription-based

Subscription-based Editors, Inc. used Quickbooks for its accounting software. The company used to buy the software off the shelf and update it every couple of years, but recently Intuit, QuickBooks parent company, has changed it's pricing to an annual fee that includes automatic update and eliminated the stand-alone product. This mostly represents a _________ business

Stimulate quicker and more frequent purchases of a product

The goal of sales promotion is to.....

Automated Vending

The most impersonal form of retailing is.....

True

The ultimate objective of supply chain management is to integrate related companies in order to facilitate coordinating activities across the supply chain in a manner that improves the entire chain's performance. True or False?

Logistics

Those activities that focus on delivering the right product, to the right place, to the right customer, at the right time, in the right quantity, in the right condition, and at the right price us referred to as.....

Eco-efficiency

Transportation companies continuously look for ways to increase fuel efficiency. This environmentally friendly business approach is most in line with a(n) _________ strategy.

Self-Actualization

U.S Army recruitment ads which challenge individuals to beseem to be appealing to which level of Maslow's needs?

It has made users less social in face-to-face settings

What have sociologists and organizational scientists concluded about the constant use of social media?

Negative Perceptions

What is a major barrier marketers face when encouraging sustainable consumer behavior?

For the most part, working in retail involves stocking shelves or working a cash register

What is a misconception about working in retail?

The use of online, mobile, and social media to engage customers, build strong customer relationships, and increase sales

What is the best description of social selling?

A prototype

You have designed a new type of cup holder for a car that can hold two cups at once. You decide to create a mock-up of the product to test in the market. It is made of the same materials that would be used in mass producing it. This mock-up is

Relationship marketing

Your local coffee shop as recently implemented an app that allows customers to receive a free drink for every 10 drinks purchased, gives birthday rewards, and provides recommendations for new beverages to try based on prior purchasing history. This app attempts to maintain and enhance customers connection to the coffee shop and reflects

Accessible

A U.S. home construction company wants to build homes just over the Canadian border for U.S. citizens, but Canada is banning most foreigners from buying homes in Canada for two years. Which market segment criterion is having the most impact on the company's plans?

Percentage-of-sales

A cellular phone company has had consistent sales from year to year, so it uses the previous year's sales to determine a promotion budget for the next year. This way, the promotion budget increases at the same rate as the company's sales. This illustrates the ________ method of budgeting

Target Market

A clothing company considered several variables when deciding where to direct its marketing efforts. It decided on older, male, outdoor enthusiasts with discretionary income. This represents the companies.......

Free association

A company conducted a focus group for an established brand to help the company adjust the marketing mix for the brand. The moderator asked the participants to say what came to mind when they heard the brand name. What type of research is this?

Delight

A consumer can be happy with product but switch to another companyies good or service if provided additional value. This is why, according to your text, customer-driven companies strive to _________ their customers.

Mobile Marketing Research

A consumer products company researching why customers bought their product, so it offered a coupon to use after completing an online survey on their smartphones or tablet computers. This type of research is called

Push-Pull

A custom home builder builds the houses but does not complete them until they are sold. This way the buyer can choose their own features like Corian countertops and gold bathroom fixtures. This represents a __________ strategy

Public relations

A firm puts our press releases that focus on the companies contribution to the community, such as its 5K run for Alzheimer's and a paid day off so employees can volunteer for a cause of their choice. These communications are an example of......

Geofencing

A location-based technology that uses small sensors to send a message to smartphone users who enter a nearby, defined geographic area is called?

Generating positive-word-of-mouth communication about the brand across social networks

According to your text, social media can support the goal of building successful brand in tow main ways: by allowing the firm to develop deeper relationships with customers, and by...

Online privacy and information security

According to your text, the rise of digital and social media marketing has raised the level of attention placed on three distinct ethical areas; unethical, targeting of digital customers, ethical best practices in use of social media for marketing purposes, and.....

Not including all significant stakeholder groups in the auditing process

According to your text, what is the biggest mistake marketers make when evaluating the success of their CSR programs?

An undifferentiated targeting strategy

An apple orchard has developed one mass-marketing strategy. This way it can approach all of its customers with the same product offering and product mix. This is a(n)

Enviornmental scanning

An automobile manufacturing plant is monitoring supply chains out of China to watch for factory shutdowns that would affect its parts of imports. The company is also looking for alternate sources of parts in case they are needed they are needed. This demonstrates

False

Big data analytics has yet to make a stronghold in the retail industry. True or False?

True

A brand's message should be easy to remember and remind consumers about the product attributes they are about most. True or False?

Product Placement

A marketer who is able to get its product to be used by an actor in a movie is benefitting from

provide customers with value

As it relates to customers, the aim of marketing is to

On a continual basis as conditions change

How often should firms undertake the task of strategic planning?

The worry that customer data is not secure

What issue highlighted in your text is an ever-present concern for customers regarding CRM systems?

Online shopping does not provide the sensory elements that can be found with in-store shopping

What statement is true regarding nonstore retailing?

The elimination of tariffs

What was one of the key goals of the North American Free Trade Agreement?

A tire manufacturer selling custom tires to an automaker

Which scenario represents B2B marketing?