Marketing Final

noise

A consumer is reading a magazine with an advertisement, but due to a loud sound he is distracted from reading the advertisement and is not able to grasp its key points. In the context of the communication process, this unplanned static or distortion is called ________.

overall cost leadership, differentiation, and focus

According to Michael Porter, what are three effective competitive positioning strategies?

communications often come from different parts of the company

Companies often fail to integrate their various messages to consumers because ________.

attach value-added features and services to differentiate their offers and support their higher prices

Companies that adopt value-added pricing ________.

market-skimming pricing

Dr. Vaughn, a plastic surgeon, has developed a new facelift procedure which is a significant improvement over traditional methods in terms of appearance and recovery time. He is currently charging twice the price of a "normal" facelift, but will lower it once other surgeons begin to offer this new procedure. Which of the following pricing strategies is Dr. Vaughn using?

subcultures

Each culture contains smaller ________, or groups of people with shared value systems based on common life experiences and situations.

luxury cars

For which product would a company use an exclusive distribution strategy?

the total demand for products is not much affected by short-term price changes

In business markets with inelastic demand ________

vertical

In the Marvel vs. DC 'case study,' I talked about how Marvel and DC required all comic book retailers to order duplicate copies of every issue that had variant cover styles. This ultimately cause inventory build-up for the retailers and reduced profits, ultimately putting many comics retailers out of business during the 1990s. This is an example of _____________ distribution conflict.

showrooming

Jay wants a new rug for the living room in his first apartment, but isn't sure of what styles and size would look best. He goes to a home décor store and has their employee show him around their rug section, where he decides he like the idea of a modern rug in tan shades in a 8'x10' size. He then goes and orders a rug with all of these attributes for a discount on Overstock.com. This is an example of:

public sources

John has decided to buy a particular smartphone that he saw reviewed online. Which of the following sources of information has most likely influenced John's purchase decision?

advertising

Kleenex wants to introduce a new line of mildly scent-infused tissue papers. They need a promotional approach that will let them reach a broad audience for a low cost per person. Their best promotional bet is:

postpurchase dissonance

Pat thought he had received the best deal on his new car. Shortly after buying the car, Pat started to notice certain disadvantages of his new car as he learned more about other cars available in the market. Pat is experiencing ________.

gatekeeper

Paul, a purchasing agent for Kiel Inc., has the authority to prevent salespersons from seeing the decision makers in his organization. Which of the following best describes Paul's position in the B2B process?

because a small percentage improvement in price can generate a large percentage increase in profitability

Price is important to managers ________.

evaluation of alternatives

Robert has taken up cycling as a hobby and as a way to maintain his physical fitness. He wants to buy a hydration system since he will need a lot of water as he cycles. Having gathered a great deal of information, he has finally narrowed down his choices to three systems: Waterbags for Roadies, Supertanker Hydropacks, and Fast Water. Robert is in the ________ stage of the buyer decision process.

middle-of the roaders

Sears and Holiday Inn encountered difficult times because they did not stand out as the lowest in cost, highest in perceived value, or best in service of their primary target market segment. Both companies are ________.

information that already exists somewhere, having been collected for another purpose

Secondary data consist of ________.

integrated marketing communication

Sera is a clothing retailer that targets mature working women. The company runs coordinated promotions for its catalogs, Web site, and retail outlets. It uses the same models in its catalog, print ads, and Web site. Sera works to make sure its public relations activities as well as its sales promotions harmonize with its advertising in all aspects. From this information, we can infer that Sera is using ________.

marketing message

The AIDA model identifies the characteristics of an effective ________.

far fewer but far larger buyers

The business marketer normally deals with ________ than the consumer marketer does.

the predicted results

The research plan should be presented in a written proposal. The proposal should include all of the following EXCEPT ________.

upstream partners

The sets of firms that supply companies with the raw materials, components, parts, information, finances, and expertise needed to create products or services are known as ________.

redlining

When major chain retailers avoid placing stores in disadvantaged neighborhoods, they are likely to be accused of the discriminatory practice of ________.

Internal databases can be accessed more quickly and cheaply than other information sources

Which of the following is an advantage of using an internal database?

interpreting and reporting the findings

Which of the following is the final step of the marketing research process?

defining the problem and objectives of the study

Which of the following is the first step in the marketing research process?

It results in drawing in large numbers of buyers quickly, winning a large market share.

Which of the following is true of market-penetration pricing?

Price is the sum of all the values that customers give up to gain the benefits of having a product.

Which of the following is true with regard to price?

Would you like to try our new ice cream flavor?

Which of the following questions is an example of a closed-end question?

People within a social class tend to exhibit similar buying behavior.

Which of the following statements is true of social classes?

direct marketing

You are a candidate running for local office who wants to make your political positions known to the voters. You want to contact everyone who lives within your voting precinct and not a single person outside of it. Your best promotional bet is:

personal selling

You are a heavy equipment manufacturer that makes specialized digging equipment for companies in construction, mining, etc. You do not fill a large number of orders, but they are complex, involve a lot of customization, and cost a lot of dollars per fulfillment. Your best promotional bet is:

reference prices

You usually buy novels on Amazon and are used to paying about $10-15 for a new release. When you go into a corner bookshop and see their prices between $18-25, you compare this to Amazon's price and think it's high. This is an example of:

sales promotion

Your company has introduced a new kind of protein bar to the market. It tastes much better than the competition but it's hard to get people to try a new product for the first time. You need some short-term incentives to get that first taste, and after that, your product will have a loyal customer base. Your best promotional bet is:

digital marketing

Your company sells sports gear, t-shirts, etc. that are branded with various team logos. You know that people are not going to be enticed to buy a t-shirt if you show them the logo of a team that they hate. You want to be able to show each individual viewer a different promotional message based on what sports teams they're currently showing interest in. Your best promotional bet is:

public relations

Your small tech startup has just discovered an advance in battery technology that will make solar power far more cost-effective. You need to let people know about this discovery to build up anticipation for the product launch, but as a small startup you hardly have any promotional budget to get this interesting story out there. Your best promotional bet is:

Aspirational groups

________ are groups to which an individual wishes to belong, as when a young basketball player hopes to play someday in the NBA or WNBA.

Competitor analysis

________ involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Ethnographic research

________, a form of observational research, involves sending observers to watch and interact with consumers in their natural environments.