Marketing exam studying
Joseph earns $150,000 a year, while his wife Jennifer earns $200,000 a year. The couple file taxes jointly and the total taxes they pay amount to $60,000. What is the gross income of this family? $175,000 $290,000 $145,000 $350,000
$350,000
Lady Marion Seafood, Inc. sells five-pound packages of Alaska salmon. Its variable cost per package is $30, and its fixed cost is $250,000. It wants a target profit of $38,000 on a volume of 16,000 packages. What should it charge for a five-pound package of salmon? $25 $30 $40 $48
$48
A database with customer information should be used by ____________ Salespeople All employees Management only Legal team IT personnel
All employees
Which of the following statements about the factors that influence demand is true? As the availability of close substitutes increases, the demand for a product increases. As real consumer income increases, demand for a product increases. As the price of close substitutes increases, demand for a product declines. Changing consumer tastes have little impact on demand for a product.
As real consumer income increases, demand for a product increases.
The __________ American subculture as a whole is characterized by hard work, strong family ties, appreciation for education, and median family incomes exceeding those of any other ethnic group. Asian African Arab Native Hispanic
Asian
Which of the following is true of online research communities? It refers to private online forums where respondents can post their questions. It monitors online consumer conversations on social media sites such as social networks, blogs, and forums. It involves the use of consumer groups, brought together privately in an online environment, to answer questions, and collaborate with researchers in real time. It is an informal interview session in which six to ten people are brought together in a room with a moderator to discuss topics surrounding the market research problem.
It involves the use of consumer groups, brought together privately in an online environment, to answer questions, and collaborate with researchers in real time.
Which of the following is true of a markdown? It is often used when the product does not sell at the original price. New models or styles don't force the price of existing models to be marked down. It may be used to increase demand for unrelated products. The timing of a markdown really doesn't matter.
It is often used when the product does not sell at the original price.
Which of the following is a key advantage of regulatory bodies for marketers? Marketers have a lot of control over the messages they send. Marketers can be well-versed on the limitations with regards to advertising. They are not useful for marketers with small budgets. Marketers have little control over the messages they send.
Marketers can be well-versed on the limitations with regards to advertising.
Which of the following statements about pricing objectives is true? Market share and unit volume are synonymous. Unit volume is not a type of pricing objective because it is a production strategy. Firms that are interested in strategic planning set their objectives to maximize current profit. Profit objectives are frequently measured in terms of return on investments.
Profit objectives are frequently measured in terms of return on investments.
_____ is a non-personal form of communication that appears in the media and is not paid for directly by the organization. Personal advertising Publicity Inbound marketing Mass advertising
Publicity
_____ are price reductions supplied via mail in exchange for proof-of-purchase. Bonus packs Premiums Rebates Coupons
Rebates
_____ is often done with a revamping of the product and the various elements of the marketing mix. Repositioning Replacing SWOT analysis Product positioning
Repositioning
Which of the following products target baby boomers exclusively? Bathroom accessories Cosmetics Social networks Retirement homes
Retirement homes
_____ promotions are short-term promotional tools used to generate support with wholesalers, distributors, or retailers. Consumer Personal Trade User-generated
Trade
Every employee at WestJet has a heightened sense of customer service responsibility. Which of the following statements does NOT describe WestJet: CRM messages and tactics have been communicated to all levels of the company Senior levels of management have embraced the business strategy of CRM WestJet has a CRM culture Employees use and understand CRM technology WestJet employees have no personal commitment to the company
WestJet employees have no personal commitment to the company
Which of the following is true of price skimming strategy? A company uses a price skimming strategy to combat competitive threat. Price skimming strategy helps a company encourage rapid acceptance of an innovation. With a price skimming strategy, a company can recover research and development costs. When a company uses a low price to enter the market, it is referred to as a price skimming strategy.
With a price skimming strategy, a company can recover research and development costs.
Which of the following would most likely use truck jobbers to distribute its products? a clothing manufacturer a manufacturer of electric generators a leather goods importer a small bakery
a small bakery
Support goods that include tools and office equipment and are usually purchased in small-order sizes by buyers are called _____. installations supplies raw materials accessory equipment
accessory equipment
BooksnMusic.com promotes its business by providing its online associates with ads and links to display on their websites, offering commissions for resultant business. This is an example of _____ marketing. event affiliate microsite social network
affiliate
For which of the following items would extended problem solving MOST LIKELY be used? a suitcase a soccer ball a taxi ride an assisted living residence an energy drink
an assisted living residence
Items used in the manufacturing process that _____ are called production goods. are used to construct a manufacturing facility are essential to research and development finance industrial expansion become part of the final product
become part of the final product
Which of the following is main the reason why organizations constantly monitor the marketing environment? a.To estimate the human resource requirements b.To limit the flow of information within the organization c.To capitalize on new opportunities and curtain potential threats d. To curtail the weaknesses of an organization
c.
Alternative products that can satisfy a specific market's needs are called _____. fundamental forces direct forces social forces competitive forces
competitive forces
Installations: are similar to consumer convenience goods. consist of buildings and fixed equipment. are items used in the manufacturing process that become part of the final product. include tools and office equipment.
consist of buildings and fixed equipment.
Characteristics such as age, gender, and occupation refer to _____ forces. competitive demographic economic regulatory
demographic
The assortment of products within each product line in a store is referred to as its _____. retailing mix depth of product line breadth of product line level of service
depth of product line
A researcher is identifying which approach to take to complete a project. He identifies what information is needed, how it will be collected, and whether a sampling plan is needed. Which step of the marketing research approach is the researcher at? defining the problem/issue conducting exploratory research collecting quantitative research information designing a research plan
designing a research plan
Daniel, an avid fly fisherman from a small village, needs large rubber rafts; chest and hip waders; special fishing rods, reels, and line; and an assortment of fishing tackle and lures. He orders his fishing supplies from Fish & Spin's catalogue due to the lack of any good stores in his village. His supplies are generally delivered to his home within 72 hours. Daniel is using a _____ to satisfy his fishing supply needs. home delivery retailer quick response retailer direct mail marketer community marketer
direct mail marketer
The Globe and Mail uses which online tools to stay competitive in the marketplace? TV e-readers hard copy glossy, smudge-proof pages
e-readers
Respect is an example of a __________ need. esteem physiological safety social self-actualization
esteem
Truck jobbers are wholesalers who: furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers. take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise. own the merchandise they sell but do not physically handle, stock, or deliver it. have a small warehouse from which they stock their trucks for distribution to retailers.
have a small warehouse from which they stock their trucks for distribution to retailers.
Which of the following is a demographic variable? city size income usage attitude
income
YourIdea.com is an online shopping portal that allows its customers to personalize mugs, pens, and photo frames. Which of the following approaches is the company following? mass marketing niche marketing segment marketing individualized marketing
individualized marketing
The brochure for Healthy & Fit Centre has photographs of people enjoying the various gym amenities. By seeing the pictures of what is available at the gym, a customer has a better idea of what is being sold. The brochure, thus, helps customers deal with the _____ that is associated with the centre's services. incongruity inconsistency intangibility inseparability
intangibility
There is a changing landscape in terms of media and how consumers are interacting with marketing communications. What change has happened to make it easier for a company to have a two-way communication with the consumer? closed-circuit TV LinkedIn in store market surveys online services such as e-mail and social media
online services such as e-mail and social media
The VALS system is a(n) __________ measure of consumers. attitude involvement level psychographic brand loyalty family life cycle
psychographic
A TV channel for teenagers determined that their target group had a love of social media, computer games, YouTube channels, and spending time on the Internet. The channel then created Facebook pages and interactive websites to engage with their audience. The channel used _____ as its strategy to market. psychographics geographics behaviouristics demographics
psychographics
Which of the following terms is used to define a time of slow economic activity with two consecutive periods of negative growth? stagflation inflation deflation recession
recession
Which of the following types of products stress product differentiation from competitors and are fairly expensive? shopping products convenience products specialty products unsought products
shopping products
Which type of consumer good is purchased infrequently and takes an extensive amount of time to make the purchase decision and obtain the item? convenience products shopping products specialty products unsought products
specialty products
Using the same brand name for different products is an application of which concept from behavioural learning theory? selective retention stimulus generalization affective formation selective comprehension stimulus discrimination
stimulus generalization
Which of the following refers to inventions or innovations that stem from scientific or engineering research? competitive forces pioneering forces market forces technological forces
technological forces
As a situational influence, antecedent states include other people present. the amount of cash on hand. the time of day. the purpose of the purchase. the crowding in retail stores.
the amount of cash on hand.
Inconsistency in services refers to the fact that: there is no regulation of service industries in terms of basic standards of quality. the quality of service provided by a firm is often inconsistent with its image. the performance of one employee may vary from that of another employee. the services cannot be stored for long periods of time for use at a later date.
the performance of one employee may vary from that of another employee.
Competition, in a SWOT analysis, is an example of _____. opportunity strength weakness threat
threat
Free-on-board (FOB) origin pricing is a method of pricing where the: title of goods remains with the manufacturer until sold to the ultimate consumer. title of goods passes to the buyer upon arrival at the final destination. title of goods passes to the buyer at the point of loading. price the seller sets includes all transportation costs.
title of goods passes to the buyer at the point of loading.
Which of the following is an example of non-store retailing? hypermarkets supercentres shopping centres vending machines
vending machines
Live 'n' Homes, a company that manages apartments, decides to buy 17 new dishwashers at a list price of $750 each as replacements for old dishwashers. The merchant offers a $150 discount per unit on a purchase of more than 10 dishwashers. The company will get $10 per dishwasher for the 17 dishwashers traded in. If the financing charges total to $20 per unit, what is the price the company will pay for each dishwasher? $590 $600 $610 $730
610
A SWOT analysis is Internal factors External factors Both the internal factors and the external factors Assessing how well a company is doing
Assessing how well a company is doing
Hill's Science Diet markets high quality dog and cat food. On Hill's Facebook Page they post latest news about their product and people can comment on Hill's products. Hill's is using social media to _____________. Data mine Protect privacy Increase customer lifetime value Build customer relationships Increase share of wallet
Build customer relationships
An enterprise that builds a database about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had purchased has implemented a CRM Continuity Loyalty Data mining Information warehouse
CRM
Which of the following is the oldest loyalty program in Canada? Aeroplan Shoppers Drug Mart Optimum Air Miles Starwood Moments Canadian Tire money
Canadian Tire money
Marketers are responding to socio-cultural changes in what areas? Financial slowdown Unstable markets Communications and the media Group attitudes
Communications and the media
Which of the following agencies is primarily responsible for the administration and enforcement of the Competition Act and the Consumer Packaging and Labelling Act? Canadian Marketing Association Canadian R-T Commission Competition Bureau Better Business Bureau
Competition Bureau
_____ refers to short-term marketing tools used to encourage immediate purchase by end users. Cooperative promotion Trade promotion Consumer promotion Buzz marketing
Consumer promotion
There are two steps in customer recovery. The first step is to find the customer who is in jeopardy of being lost to the company. What is the second step? Conduct focus groups Contact them to determine why they have stopped buying Use social media to research what they are currently purchasing Calculate the customer lifetime value Send the customer a sales promotion
Contact them to determine why they have stopped buying
Expertise and information is best created by using which marketing communication tool? Real-time marketing Social media marketing Mobile marketing Content marketing
Content marketing
ompanies are focusing on the value of a loyal customer over an extended timeframe. This measurement is called Data warehouse Customer relationship management Database marketing Customer lifetime value Data mining
Customer lifetime value
The process of building and maintaining profitable customer relationships is called: Customer satisfaction Customer value Customer relationship management Customer interaction Customer experience management
Customer relationship management
_____________is an efficient way to sort through large amounts of data to find relationships between variables. Customer lifetime value Data warehousing Customer relationship management Data mining Database marketing
Data mining
A central repository of an organization's electronically stored data is called a Customer relationship management Data warehouse Database marketing Data mine Customer lifetime value
Data warehouse
____________ involves the use of databases to customize communications to customers for the purpose of promoting a product or service. Customer lifetime value Data warehouse Database marketing CRM Data mining
Database marketing
CRM ______________ allow companies to get closer to their customers to establish a mutually beneficial relationship. Technology Databases Professionals Consultants Facilitators
Databases
What question is NOT important when trying to assess how close a company is to developing a CRM culture? Are employees rewarded for ensuring customers are satisfied? Do employees complain about customers? What percentage of employees can state the company's vision or mission statement? Does the organization have the ability to install the software? Would the company feel comfortable talking to 10 randomly chosen customers about their sales and after care experience?
Does the organization have the ability to install the software?
An energy drink company is interested in advertising during a made-for-television movie using subliminal advertising in which logo images are shown only very briefly, for periods of just several milliseconds at a time. Which of the following is the strongest argument against such a marketing tactic? Children might be watching the movie. Evidence suggests that such messages have limited effects on behaviour. The images of the product logo might interfere with the plot and impact the movie-watching experience. The energy drink company would have to pay a steep "product placement" fee to have its logo occur during the movie. The energy drink company would be attempting to influence the behaviour of consumers in a manner to which they might object if they were aware of what was occurring.
Evidence suggests that such messages have limited effects on behaviour.
Which of the following is an example of qualitative research? Probability sampling Costing information Focus groups Profitability data
Focus groups
_____ distinguishes retail outlets on the basis of whether individuals, corporate chains, or contractual systems possess or control the outlet. Level of service Form of ownership Merchandise line Method of operation
Form of ownership
Which of the following is a key difference between Generation X and Baby Boomers? Generation X consumers are less prone to materialism than baby boomers. Baby boomers are more self-reliant than the consumers from generation X. Generation X consumers display more brand loyalty than baby boomers. Baby boomers are better educated than the consumers from generation X.
Generation X consumers are less prone to materialism than baby boomers.
An Internet company launches a social networking website to attract young people born between 1985 and 1990. This company is targeting _____. Generation Z Generation X Generation Y Baby boomers
Generation Y
An animation company develops a game that is aimed to attract children aged 15 or younger. Identify this company's target market. Generation X Generation Z Baby boomer generation Generation Y
Generation Z
Which of the following is true of an experiment? It includes the voluntary participation of respondents in surveys, allowing individual marketers to add a small number of questions to an existing survey to receive cost-effective data on their questions. It can be obtained by watching how people behave, either in person or by using a machine to record events. It is a hybrid of primary and secondary research conducted by a research company, spreading the cost across many clients to reduce the price. It involves changing a variable involved in a purchase to find out what happens.
It involves changing a variable involved in a purchase to find out what happens.
Which of the following is true of a geographic descriptor? It includes identifying ranges for age, and gender. It includes identifying the income, occupation, and education of the main target market. It involves understanding consumer attitudes to life, their personalities, and general interest. It involves identifying the target market using variables such as region, country, and province.
It involves identifying the target market using variables such as region, country, and province.
Which of the following is true of probability sampling? It includes a large sample of respondents that voluntarily completes questionnaires on a regular basis so that researchers can assess changes in behaviour and attitudes. It is a hybrid of primary and secondary research conducted by a research company, spreading the cost across many clients to reduce the price. It involves precise rules to select the sample so that each element of the population has a specific known chance of being selected. It involves the use of arbitrary judgment by the market researcher to select a sample so that the chance of selecting a particular element of the population is either unknown or zero.
It involves precise rules to select the sample so that each element of the population has a specific known chance of being selected.
Which of the following is true of niche marketing? It involves designing specific products and services to meet the needs of different target groups. It involves a product being marketed to the entire market with no differentiation at all. It is a type of market segmentation that allows a company to focus its efforts on a limited segment in the market. It enables a marketer to customize offers and, in some cases, products to fit individual needs.
It is a type of market segmentation that allows a company to focus its efforts on a limited segment in the market.
Which of the following is true about a manufacturer's brand? It refers to a statement indicating the liability of the manufacturer for product deficiencies. It refers to a brand owned and produced by the manufacturer. It refers to a brand in which a company uses one name for all of its products. It is often referred to as a blanket or family branding strategy. It refers to a brand in which manufacturers produce products but sell them under the brand name of a wholesaler or retailer, also called a private label.
It refers to a brand owned and produced by the manufacturer.
Which of the following is a criterion for selecting a good brand name? It should have no legal or regulatory restrictions. It should suggest product features. It should fit the consumer's image. It should blend with the culture.
It should have no legal or regulatory restrictions.
Programs specifically designed for customer retention are called: Data mining Loyalty programs Customer experience management Customer relationship management Touch points
Loyalty programs
_____ provide(s) marketers with expertise on how best to communicate messages to their audiences. Public relations Marketing communication agencies Advertising Direct response
Marketing communication agencies
_____ are promotional websites created for short-term promotional purposes, often providing consumers with the ability to enter contests and access promotional offers. Corporate websites Social networks Microsites Corporate blogs
Microsites
_____ is an academic term that refers to online market research tools such as online research communities and online research bulletin boards. Internet chatting Netnography Online market Web research
Netnography
A company's failure with CRM is often the result of Not collecting enough data Not spending enough money Not implementing CRM fast enough Not having the right software Not approaching CRM as a company strategy
Not approaching CRM as a company strategy
_____ are static website locations where questions are posted online and respondents are asked to comment on ideas. Online research communities Focus groups Online research bulletin boards In-depth interviews
Online research bulletin boards
What is the name of the concept that supports the importance of loyalty programs to an organization? Pareto's Rule Customer acquisition Customer relationship management Touch points Data mining
Pareto's Rule
_____ involves the two-way flow of communication between a buyer and seller, often face-to-face, or facilitated through communication devices, to influence an individual or group purchase-decision. Trade promotion Personal selling Event marketing Sponsorship
Personal selling
Changes in technology mean thtat we send messages via social media, we use our personal information online and we store information in the cloud. All of the factors lead to an increase in ___________ risk. Regulatory Privacy Loyalty Legal Share of wallet
Privacy
_____ marketing involves designing specific products and services to meet the needs of different target groups. Niche Segment Mass Micro
Segment
Which of the following statements is true about services? Primary services allow products to differentiate their offerings from the competition while also adding value to consumers. The marketing of services is the same as the marketing of goods. Services include both tangible and intangible products. Services account for the major part of Canada's gross domestic product (GDP).
Services account for the major part of Canada's gross domestic product (GDP).
The TD Bank has a customer who holds a mortgage and chequing account with them. When the customer has children, the bank wants to sell him a registered education saving plan (RESP). The TD Bank wants in increase its _____________. Privacy Customer loyalty Database Share of wallet Customer service
Share of wallet
_____ refers to the dissemination of unsolicited electronic messages to recipients. Spoofing Virus Spam Cookie
Spam
Which of the following statements about direct selling is true? Unlike other forms of non-store retailing, direct selling takes place in the business market. Direct selling lacks demonstrations of the products in question. Success of direct sales results from the convenience and personalized service provided. Direct sales have been growing rapidly.
Success of direct sales results from the convenience and personalized service provided.
Which of the following is true? The cellphone industry often uses psychographics to market to its customers, focusing on the key benefits that consumers require in a cellphone. The behaviouristics element directly refers to how consumers use the product. Image-based products gear much of their marketing efforts to geographic variables. A company uses behaviouristics to market many of its products on the basis of age and gender requirements.
The behaviouristics element directly refers to how consumers use the product.
_____ involves products that are purchased either to run a business or to be used as a component in another good or service. Product differentiation The psychographic market The consumer market The business market
The business market
Which of the following statements is true of the Canadian Children's Food and Beverage Advertising Initiative (CAI)? The Canadian Children's Food and Beverage Advertising Initiative is an agency of the Canadian government. The initiative does not cover children above 10 years of age. It covers only traditional TV advertising directed to children. The initiative is monitored by the Advertising Standards Canada.
The initiative is monitored by the Advertising Standards Canada.
Which of the following is NOT true about monitoring Twitter for brand mentions? You can respond to customer concerns The insights that you gain are not actionable Twitter is a great resource for customer insights. You are able to participate in a conversation about your brand You can see what people are saying about your brand
The insights that you gain are not actionable
Which of the following is true about rack jobbers? They solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer. They are general merchandise wholesalers who perform all channel functions. They are specialty merchandise wholesalers. They handle perishable items that are sold for cash.
They are general merchandise wholesalers who perform all channel functions.
Which of the following is a valid observation of baby boomers? Baby boomers are people born between 1975 and 1991. They are increasingly using digital technology for communication. Baby boomers are people born between 1965 and 1975. They are also referred to as the echo boomers or millennials.
They are increasingly using digital technology for communication.
Which of the following purposes do positioning maps serve? They help revamp the product and the various elements of the marketing mix. They are used to crystallize the image for marketers so that they can design a marketing mix that aligns with the product's positioning. They help researchers analyse why consumers buy a product, the product benefit, how the product is used, and weather consumers are brand loyal. They help marketers reveal gaps in the market where consumers may be underserved, while also highlighting the competitive nature of the category.
They help marketers reveal gaps in the market where consumers may be underserved, while also highlighting the competitive nature of the category.
When a customer shops at Starbucks, they walk into the store, order their coffee, pay for the coffee, talk to the servicer, get t the coffee and then sit down and enjoy the coffee. For Starbucks, each of these moments is called a (n) Shopping interaction Communication Customer moment Touch point Customer experience
Touch point
_____ is the resultant visit of a direct response to a location or website. Lead generation Trade promotion Traffic generation Word-of-mouth
Traffic generation
_____ is charging different prices to maximize revenue for a set amount of capacity at any given time. Demand backward pricing Penetrating pricing Yield management pricing Skimming pricing
Yield management pricing
Elastic demand exists when: a small percentage decrease in price produces a smaller percentage increase in quantity demanded and total revenue falls. a small percentage decrease in price produces a larger percentage increase in quantity demanded and total revenue increases. an increase in price causes a larger increase in quantity demanded and total revenue falls to zero. a small percentage decrease in price produces a smaller percentage decrease in quantity demanded and total revenue increases.
a small percentage decrease in price produces a larger percentage increase in quantity demanded and total revenue increases.
The study of consumer __________ helps marketers understand why people choose one brand over another and how they make these choices. behaviour life cycles efficiency routines search patterns
behaviour
Parell's, a shampoo manufacturer, carried an ad campaign where it asked television viewers to identify the hair that was shampooed and conditioned with Parell's products and the hair on which expensive salon hair-care products were used. The idea of the ad was to make the viewers realize that a person could not distinguish between the hair that used the comparatively cheaper Parell's brand from hair that used the very expensive salon brand. By making price its selling point, Parell's is most likely using _____. demand backward pricing below-market pricing loss-leader pricing skimming pricing
below-market pricing
Generation X refers to the group of people born _____. between 1946 and 1965 after generation Y consumers between 1972 and 1992 between 1966 and 1971
between 1966 and 1971
The variety of different items a store carries is referred to as the _____. retailing mix depth of product line breadth of product line level of service
breadth of product line
A type of retail outlet that focuses on one type of product at very competitive prices and often dominates the market is called a _____. general merchandise store specialty outlet hypermarket category killer
category killer
o allay mothers' concerns about ingredients in its mayonnaise, Hellmann's successfully communicated the product's high Omega 3 content, which is known to be essential to human health. This is an example of using which attitude change strategy? encouraging the consumer to use stimulus generalization changing the importance of attributes encouraging the consumer to use stimulus discrimination changing beliefs about the extent to which a brand has certain attributes adding new attributes to the product
changing beliefs about the extent to which a brand has certain attributes
Which of the following types of pricing involves summing the total unit expenditure of providing a product or service and adding a specific amount to the expenditure to arrive at the price? standard markup pricing experience curve pricing cost-plus pricing penetration pricing
cost-plus pricing
Odd-even pricing is most closely related to: retailers' perceptions of price. customers' perceptions of price. wholesalers' markups. manufacturers' costs.
customers' perceptions of price.
One of the biggest problems online retailers face is: an inability to create time utility for the consumers who purchase through websites. customers' tendencies to get to the checkout and leave the website without concluding the purchase. its inability to allow comparison shopping when consumers are in a dilemma trying to choose between two or more products. the difficulty of actually placing the online purchase.
customers' tendencies to get to the checkout and leave the website without concluding the purchase.
Level of service refers to the: breadth and depth of goods provided. degree of product liability held by the manufacturer. degree of service provided to the customer. relationship between the manufacturer, retailer, and consumer.
degree of service provided to the customer.
Target pricing is the result of a manufacturer _____ in a product to achieve the target price. setting the highest costs possible deliberately adjusting the cost and quality of the component parts researching what markups wholesalers will accept studying competitive prices and making fixed-cost adjustments
deliberately adjusting the cost and quality of the component parts
When a company uses a blog to create a buzz in the market about its upcoming product, resulting in a boost in its sales. This is an example of using _____ media. augmented paid owned earned
earned
For the purchase of a smartphone, Consumer Reports expects that many consumers use price, display, web browsing, and battery life as __________, since it tests products on these dimensions. a cognitive cluster selective features value attributes evaluative criteria the consideration set
evaluative criteria
Preliminary research that clarifies the scope and nature of a marketing problem is referred to as _____. descriptive research causal market research exploratory research conclusive research
exploratory research
All products manufactured by Ken & Lawrey's carry the Ken & Lawrey's brand name. Ken & Lawrey's uses _____. multibranding single branding co-branding family branding
family branding
Which level of service frequently characterizes specialty stores and department stores? exclusive service minimal service full service limited service
full service
Which type of wholesaler carries a broad assortment of merchandise and performs all channel functions? general merchandise wholesaler limited-line wholesaler specialty merchandise wholesaler rack jobber
general merchandise wholesaler
Which of the following is the last step in the market research process? generating the report compiling qualitative research analyzing quantitative data interpreting data
generating the report
A _____ descriptor of a target market looks at where a target market lives using variables such as country, region, province, city size, and type of location such as urban, suburban, or rural. psychographic demographic geographic behaviouristic
geographic
Satisfaction or dissatisfaction affects consumer communications; while the satisfied buyer typically tells about three other people about her experience, the dissatisfied buyer is often too embarrassed about the situation to tell anyone. is likely to complain to about nine people. tells only one or two. usually tells no one except the company. is very unpredictable but often attempts to tell as many people as possible during a confrontation.
is likely to complain to about nine people.
Opinion leaders are considered to be __________, so their opinions influence others' choices. successful in business or otherwise possessing high status active, experimental, and embracing of risk ethical and principled in their actions highly connected to others in social terms knowledgeable about or users of particular products
knowledgeable about or users of particular products
An airline company's advertisement appears across the top of a webpage. This is an example of a _____. leaderboard skyscraper video ad homepage takeover
leaderboard
Which of the following is a psychological influence on the consumer behaviour decision process? temporal effects promotion lifestyle reference groups culture
lifestyle
A product _____ is a group of products—goods or services—that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range. class mix line unit
line
The market leader for a(n) __________ product must make special efforts to avoid stockout situations so that buyers don't substitute a competing brand. low-involvement sociocultural complex expensive situational
low-involvement
Brand _____ is the degree of attachment that consumers have to a particular brand. personality mannerism loyalty personification
loyalty
Play Along Inc., a new toy company, has launched Music Blocks at an initial price of $70. It is a set of electronic blocks that young children arrange in different combinations to create music and experiment with sound. To get the toy into the hands of the retailers, Play Along Inc. must choose to use a _____ to be principally responsible for the transactional channel functions. cash and carry wholesaler drop shipper truck jobber manufacturers' agent
manufacturers' agent
Elements such as technological forces, regulatory forces, and demographic forces constitute _____. organizational strengths microeconomic environment marketing intermediaries marketing environment
marketing environment
Which of the following is an item that people are less likely to purchase, if their discretionary income is very low? sweater flour milk movie
movie
A company focuses its efforts on a limited segment in the market with its product. This type of market segmentation is referred to as _____. segment marketing mass marketing niche marketing repositioning
niche marketing
Look, a cosmetic company, overtakes Nature, a small cosmetic franchise. Nature manufactures and sells cosmetics that are made of 90 percent natural ingredients, and are not animal-tested. It has always targeted a special audience and has focused its efforts on a limited segment in the market. Look decides to promote products by Nature as a totally separate brand, understanding that the products interest and attract a special segment of the market. This is an example of _____. niche marketing individualized marketing segment marketing family branding
niche marketing
A Vancouver-based chocolate manufacturing company decides to assess the consumption of its products by meeting people who live in Vancouver. Even though the chocolates are consumed across Canada and U.S., the company decides to assess only those consumers who live in Vancouver. This is an example of _____. population surveying non-probability sampling causal research probability sampling
non-probability sampling
In routine problem solving, the number of external information sources used is typically which of the following? there is wide variation none many a few one
none
Mark, who is the main decision maker at a corner store, wants to achieve specific, measurable goals. These goals are Mark's _____. strategies requirements objectives cues
objectives
Andrea has gone to Home Depot and watched a variety of consumers. The data she has collected is _____. primary external observational financial
observational
Freight Supermarkets has decided to install store scanners to capture data on consumer purchases. This is an example of _____. a syndicated study an omnibus survey an experiment observational research
observational research
Which of the following refers to the type of competition that occurs when a few companies control a market? monopolistic competition oligopoly duopoly monopoly
oligopoly
A research agency conducts a routine survey to study the attitude of consumers toward smartphones. Respondents voluntarily participate in the survey, allowing the researchers to add a small number of questions to the existing survey to receive cost-effective data. This is an example of a(n) _____. survey panel omnibus survey test market experiment
omnibus survey
At a discount store, Paul and the other customers were offered a Wilson Sting tennis racquet at a non-variable price. Paul was left with a buy-or-not-buy choice under the store's _____. penetration strategy odd-even pricing one-price policy bundle-pricing policy
one-price policy
Martha is collecting data on the latest consumer trends. She lives in Holden, Alberta, and is not able to meet her target population in person. She decides to talk to consumer groups, privately via Internet chat rooms, where they can answer questions, respond to ideas, and collaborate with her in real time. Which of the following techniques is Martha planning to use? online bulletin boards in-depth interviews focus groups online research communities
online research communities
A non-profit organization decides to organize a marathon in the city of Quebec to create awareness of cancer. The organization's main aim is to appeal to the local audience for participation in the marathon. The organization has a small budget and little time to appeal to the audience, and wants to minimize avoidance of the message. Which of the following media will be best suited for this organization? television Internet outdoor/transit radio
outdoor/transit
Marthey and Lawrey's Inc. is a manufacturer of scopes for rifles. To appeal to a larger market, the company has introduced a new lower-priced scope with the same quality and performance as its other previous products. Which pricing strategy is Marthey and Lawrey's Inc. using? skimming pricing penetration pricing price lining odd-even pricing
penetration pricing
A marketing manager and his team use visual representation to understand how products or product groups are positioned within a category to consumers. These representations are referred to as _____. market maps perceptual maps strategy maps product representations
perceptual maps
Value pricing is the: ratio of perceived benefits to price. practice of increasing a product's benefits while maintaining or decreasing price. practice of simultaneously increasing product and service benefits and increasing price. ratio of price to perceived benefits.
practice of increasing a product's benefits while maintaining or decreasing price.
Important variables in the family life cycle are age, marital status, and level of involvement. primary motivation for purchases. presence of children. income. gender.
presence of children.
A manufacturer using _____ is setting a high price so that status-conscious consumers will be attracted to the product and buy it. skimming pricing prestige pricing price lining odd-even pricing
prestige pricing
A high initial price used by companies to help recover research and development costs is called a _____ strategy. penetration pricing yield management pricing price skimming prestige pricing
price skimming
H&G Co. Ltd. has used a high initial price for its newly launched cellphones. The company hopes to recover its research and development costs with this pricing. This is an example of a _____. price lining strategy price skimming strategy yield management pricing strategy prestige pricing strategy
price skimming strategy
A soft drink company often shows its products in movies and TV programs. This is known as _____. product placement point-of-sale display augmented reality trade promotion
product placement
Ginger Inc., is focusing its communication efforts to build awareness, and create demand for its products amongst consumers. Ginger, Inc. is adopting a(n) _____. personal selling strategy push strategy social network strategy pull strategy
pull strategy
Survey questions can be standardized in the form of a(n) _____ and asked to a large representative sample to obtain accurate data. experiment questionnaire bulletin board in-depth interview
questionnaire
Harry, upon arriving at a supermarket, researches for product reviews and prices on his smartphone using codes that are two-dimensional images that look like blobs of black on a white background. Harry is using a _____ scanner. bar code quick response code address code camera
quick response code
Demographic profile of a target market includes identifying: ranges for age, gender, family life cycle, income, occupation, and education. why consumers buy a product, the product benefit, how the product is used, and whether consumers are brand loyal in their purchase behaviour. consumer attitudes to life, their personalities, general interests, opinions, and activities. where a target market lives using variables such as country, region, province, and type of location.
ranges for age, gender, family life cycle, income, occupation, and education.
If a consumer is happy with the firm, but natural, hold she gets from her latest purchase of hairspray, this would be considered which variable of the behavioral learning process? discrimination drive cue response reinforcement
reinforcement
Raphael & Sons is a high-end men's clothing retailer. In times of recession, the retailer began to carry lower-quality, low-priced suits. This made Raphael & Sons lose a significant number of its loyal customers. This is an example of wrong _____. cross-channel shopping location shopper marketing retail positioning
retail positioning
A marketer is in the process of market segmentation. He estimates the sales and the revenue expected, and also plans the corporate social responsibility initiatives for the company. Which step of market segmentation is the marketer at? identifying specific business unit objectives identifying consumer/customer needs and common characteristics in the market reviewing strategic company objectives clustering common consumer/customer variables to create meaningful market segments
reviewing strategic company objectives
Ryan needs to collect data for a marketing project. He realizes that collecting data from the entire population of his city will be extremely time-consuming and costly. Thus, he is gathering his survey data from a subset of the total population. This process is referred to as _____. an ethnographic study a population survey designing sampling
sampling
Pay-per-click advertising is also referred to as _____. advergaming leader boarding search advertising banner advertising
search advertising
Toro introduced a small, lightweight snowblower called the Snow Pup, which worked well but suffered from slow sales. Toro found that consumers perceived the Snow Pup name to mean that it was a toy or too light to do any serious snow removal. Poor sales may have been the result of __________ because of customers' interpretation of the name. stimulus discrimination selective comprehension selective retention stimulus generalization selective exposure
selective comprehension
All Round Utilities Inc. offers airline trips, financial advice, and telephone calls for sale. These products are referred to as the company's _____. non-durable goods durable goods services offered goods
services
Odd-even pricing is: setting prices one way for product lines and another way for individual brands. setting prices of luxury items at even price points and setting the price of necessities at odd price points. setting prices a few dollars or cents under an even number. a method of pricing where price often falls following the reduction of costs associated with the firm's production experience.
setting prices a few dollars or cents under an even number.
Graham's Spice LLC makes use of _____, which includes use of traditional media, new media, direct marketing, loyalty, and trade promotion to understand when and where its customers first think about purchasing its spices. understanding consumers retail positioning shopper marketing purchase matrix
shopper marketing
In the case of _____ products, the brand loyalty of consumers is such that they prefer specific brands, but will accept substitutes. shopping convenience specialty unsought
shopping
When microwave ovens were in the introduction stage of the product life cycle, some consumers were willing to pay exorbitant prices for the innovative ovens. Taking advantage of this strong consumer desire, marketers set the price for microwave ovens at the highest initial price that customers with a very strong desire for the product were willing to pay. Marketers of microwave ovens were using a _____ pricing strategy. skimming penetration prestige price lining
skimming
Distribution is most limited with _____ products. shopping convenience specialty unsought
specialty
With respect to price, which of the following types of consumer products would most likely be very expensive? convenience goods shopping goods specialty goods unsought goods
specialty goods
Items used to assist in the production of other goods and services are called _____ goods. production convenience specialty support
support
Kyra needs to choose a research technique that is designed to be statistically accurate and less open to interpretation. Which of the following techniques should she choose? focus groups in-depth interviews social listening surveys
surveys
Paul's research director has asked him to prepare a report. He needs to use a hybrid of primary and secondary research and spread the cost across many clients to reduce the price. Which of the following research techniques will Paul use? test market survey syndicated study observational research
syndicated study
Froys is a new brand of potato chips from a large manufacturer. The company wants to take the product to a wide audience through advertising. It also wants to make the brand name and logo highly visible to the public. It plans to shoot a video advertisement to fulfill these objectives. Which of the following media is most suited to advertise Froys? public relations event marketing newspaper television
television
A(n) _____ is an in-market localized regional approach, or short-term online destination, used to test the success of promotional offers, new services, or new-product launches. test market survey experiment observational research
test market
If you are thinking about buying a new stroller for your child, which of these would be considered a public source of information for an external search? a salesperson at Sears your older sister Evenflo's website the Consumer Product Safety Division of Health Canada an Internet pop-up ad
the Consumer Product Safety Division of Health Canada
The problem recognition stage of the consumer purchase decision process will be activated if the consumer perceives a difference between his or her actual and ideal situations and there is no current cognitive dissonance. he or she has the resources, both time and money, to devote to solving the problem. the difference is big enough to trigger a decision. he or she knows that a solution to the problem exists. the evaluative criteria to use for the purchase have previously been developed.
the difference is big enough to trigger a decision.
Product positioning refers to: the tool that identifies the main reasons the target market buys a product and what sets it apart in the market. revamping of the product and the various elements of the marketing mix. visual representations of how products or product groups are positioned within a category to consumers/customers. the impression of the product you want to establish in consumers' minds relative to their needs and also in contrast to the competition.
the impression of the product you want to establish in consumers' minds relative to their needs and also in contrast to the competition.
An e-commerce company realizes that its customers are moving to competitors. Marketers cite that the company has not updated its technology, while the competitors have. In a SWOT analysis, the competitor is an example of a(n) _____. weakness threat strength opportunity
threat
National franchisers assist their franchisees in selecting the store location, setting up the store, advertising, and: paying their bills promptly. securing loans from banks for setting up the business. keeping premises clean. training personnel.
training personnel.
Fifty percent or more of adults have not visited a dentist within the last five years. For these people dental services would be classified as a(n) _____. shopping product convenience product specialty product unsought product
unsought product
Idle production capacity can be reduced by: using temporary workers. hiring additional full-time personnel. allowing personnel to work overtime. decreasing the number of work days per week, but increasing the hours per day.
using temporary workers.
Geographic descriptor analyses: why consumers buy a product, the product benefit, how the product is used, and whether consumers are brand loyal in their purchase behaviour. consumer attitudes to life, their personalities, general interests, opinions, and activities. ranges for age, gender, family life cycle, income, occupation, education, ethnic background, and home ownership for the main target market. where a target market lives using variables such as country, region, province, city size, and type of location such as urban, suburban, or rural.
where a target market lives using variables such as country, region, province, city size, and type of location such as urban, suburban, or rural.
