Marketing Exam 4

Explains how the companies in the lobster case exemplify that marketing channel.

Producer (fisherman) -> Wholesaler (Ipswich) -> Retailer (restaurant) -> Consumer (patrons)

What type of advertising is usually locally placed?

Radio

Which of the following does NOT explain how marketing channel promote physical flow of products?

Does not facilitate searches by both buyers and sellers

Which advertising media has the broadest coverage and therefore the lowest cost per contact?

Television

What is the major difference between merchant wholesalers and agents/brokers?

agents and brokers do not take title to the goods they sell

Convenience retailers sell ________, therefore they locate on accessible locations, have long store hours, and rapid checkout service, and adequate parking facilities.

convenience goods

Which of the following are post-sale activities employed by salespeople that are critical in strengthening customer relationships?

follow-up activities

What types of utility do marketing intermediaries NOT create?

form

Which of the following is an example of a socially important message that should be promoted widely?

friends don't let friends drive drunk

The customers of products that favor personal selling are:

geographically concentrated

What is planned shopping center?

group of retail stores designed, coordinated, and marketed as a unit to shoppers in a geographical trade area

Which of the following explains why percentage-of-sales budgeting method may not provide sufficient promotional funds when they are needed?

heavy advertising is needed in the beginning to provide buyers with product information

What are the advantages of direct marketing, although it has the highest cost per contact?

high level of personalization

What is the first step in developing a promotional plan?

identify the target audience

Which of the following explains why Ipswich chose forward but not backward integration?

if the boat only catches bad lobster, Ipswich has no alternatives

What is merchandising strategy?

includes general product categories, specific product lines, specific products within lines, and the depth and width of the assortment of products

Promoting the health benefits of potatoes is to which of the following?

increase demand

How is guerilla marketing unique?

innovative, low-cost way of reaching target market

What does IMC stand for?

integrated marketing communications

Coca-Cola products are available in supermarket, convenient stores, and vending machines, therefore _______.

intensive distribution

Which of the following explains why a sales managers is a boundary-spanner?

linking sales force activities to internal and external elements of the organization's environment

What are missionary sales?

maintaining customer goodwill and providing information concerning the use or function of the firm's products

According to the Communications Model, which of the following are NOT examples of "receiver"?

marketers

What is competitive parity/share of voice budgeting method?

match the firm's budget with whatever competitors are spending

The wheel of retailing suggests that the greater the number of services performed by the retailer, ___

the higher the average retail price because the required markup is larger

What is unaided recall when evaluating advertising?

whether a person remembers seeing an ad without given the name of the brand

Using Ipswich is an example, which of the following explains horizontal and vertical conflict?

with competitors; with suppliers/customers

________, such as Home Depot, is a limited-line retailers with high selections and low prices in a single product line.

Category killers

Your college bookstore buys ball pens for $1.00 each and sells them at the retail price of $2.00. The markup percentage based on cost is:

100%

Which of the following is the advertising medium that offers the highest level of personalization in reaching specific target customers?

Direct mail

What does AIDA stand for?

attention, interest, desire, action

How are public relations different from other forms of promotional tools?

audience includes customers, suppliers, stockholders, employees, government and the general public

What is relationship selling?

build mutually beneficial relationships with a customer over an extended period of time

Which of the following is NOT the advantage for the consumers to buy products from the internet?

can't touch items

When Walmart, a channel captain, rewards its suppliers, what does that mean?

captain puts suppliers' products on shelf

Usually what types of products need to be promoted using sales representatives?

cars

Coke, Diet Coke, Pepsi, and Diet Pepsi produce MTVs using nearly three dozen movie stars, athletes, musicians, and television personalities as spokespeople in their effort to increase cola sales. This is called:

celebrity advertising with admiration appeal

When Buffering advertises that it contains more pain reliever than aspirin or Tylenol, and it is clinically proven to be 50% more effective that its competitors, it is using:

comparative advertising with scientific execution

What is commission?

compensation tied directly to sales or profits a salesperson achieves

How did Neiman-Marcus Department Store track its service delivery level?

conduct customer satisfaction surveys

Which of the following is NOT the reason why sponsorships have grown in popularity in the last ten years?

costs of advertising are increasing exponentially

According to the Communications Model, which of the following are NOT examples of "sender"?

customers

Why does relationship selling provide competitive advantage to the salespeople?

customers cut back on the number of suppliers

What is inbound vs. outbound telemarketing?

customers using toll-free number to contact company vs. sales force contact customers

Which of the following explains the objective-task budgeting method?

defines communication objectives and then figure out promotional tasks

Promotion is important to the branding efforts, therefore marketer needs to ______ despite the products have similar features.

differentiate a product

Which of the following is not an example of promotion mix?

distribution

According to the Communications Model, what is encoding Vs. decoding?

embed messages within advertisements vs. interpretation of the message

The advertising of Census Bureau which attempted to encourage people to fill in 2010 census is a form of institutional advertising, using _______ appeal.

environmental conscious

Tiffany jewelry is only available in selective stores in wealthy metropolitan cities in the world, therefore _______.

exclusive distribution

What are the product elements in the retailing mix?

merchandising strategy and customer service

Which of the following functions is NOT facilitated by sales force automation?

minimizing customer communication

Which of the following explains forward and backward integration using Ipswich as an example?

open restaurants; go into supplier's business

How do direct marketers build a marketing database so that they can send out catalogs and letters to the people in the database?

packs a product registration card along with warranty in the product

Which of the following describes how personal selling is unique?

person-to-person

What is a retailing mix?

plan that specify merchandise strategy, customer service standards, pricing guidelines, promotional goals, and store atmosphere choices

Which of the following is NOT the advantage for the marketers to use the internet to conduct e-commerce?

price competition

What did Neiman-Marcus Department Store do to fulfill its philanthropy social responsibility?

producing recipe books and donating royalties to charitable organizations

Which part of the sales process consisting of identifying potential customers?

prospecting and qualifying

JC Penny pulled the controversial "attitude adjustment" advertising campaign, in which a teenage girl was trying on hiphugger jeans, after four days on aid. In order to pacify the angry viewers of the advertising, JCPenny's _______ also apologized in the media for having a too fashion-forward message.

public relations manager

Exaggerating a product's benefits in advertising is called:

puffery

According to the Communications Model, how do customers feedback to the "sender" of marketing messages?

purchase and consumer complaint

According to the Communications Model, which are NOT the sources of noise?

receivers understand the messages completely

What is usually the channel length of the products that favor personal selling?

relatively short

What are chain stores vs. independent retailers?

retail outlets that operate under centralized ownership and management vs. independent owned stores

Electronic products are available in electronic stores and Target, therefore _______.

selective distribution

Shopping goods, such as jewelry and luxury cars, are sold in ________.

shopping stores

In order to battle for shelf space, manufacturers of new products often pay:

slotting allowance

Why is it important to produce a unified, customer-focused promotional message?

so that consumer does not completely tune them out

Why does team selling becomes prevalent in serving key accounts?

some sales situations call for detailed knowledge of new, complex and ever-changing technologies

Specialty goods, such as jewelry and luxury cars, are sold in ________.

specialty retailers

ABC Pasta Restaurant offers special deals on a weekday is to which of the following?

stabilize sales

What types of products have a long marketing channel?

standardized product

The price of the product that favors personal selling is usually:

technically complex

Which of the following is NOT an example of extra-inducement when closing a sale?

telephone interview