Marketing Final (Ch 13 + All Quizzes)

According to Forbes, which industry were a majority of the top ten most valuable brands a part of?

technology

10) The traditional communication process does NOT include 10) ______ A) response. B) source. C) receiver. D) feedback. E) encoding.

A

2) Identify the characteristic nature of late majority. 2) _______ A) They respond more to social pressure from other late adopters than to salespeople. B) They have a lot of contact with early adopters. C) They use salespeople and have much contact with the early majority. D) They make a lot of use of mass media. E) They make a lot of use of salespeople.

A

21) "Advertising" 21) ______ A) is any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor. B) is concerned with "promotion" using samples, coupons, and contests. C) involves direct spoken communication between sellers and potential customers. D) is the only form of mass selling. E) is also called "sales promotion."

A

22) A producer using very aggressive promotion to get final consumers to ask intermediaries for a new product has ______. 22) ______ A) a pulling policy B) an intensive distribution policy C) a selective distribution policy D) a pushing policy E) a target marketing policy

A

39) "Promotion" does NOT include 39) ______ A) introductory price dealing. B) sales promotion. C) advertising. D) publicity. E) personal selling.

A

4) Which of the following are the basic types of promotion? 4) _______ A) personal selling, mass selling, sales promotion, and publicity B) only mass selling and personal selling C) only personal selling and publicity D) only mass selling and sales promotion E) only sales promotion and personal selling

A

41) Any distraction that reduces the effectiveness of the communication process is called 41) ______ A) noise. B) static. C) clutter. D) resonance. E) interference.

A

48) The AIDA model's four basic promotion jobs are concerned with 48) ______ A) attention, interest, desire, action. B) awareness, interest, decision, acceptance. C) action, interest, desire, acceptance. D) attention, internalization, decision, action. E) awareness, interest, demand, action.

A

5) The EARLY MAJORITY have a lot of contact with 5) _______ A) the mass media, salespeople, and early adopter opinion leaders. B) impersonal and scientific information sources. C) innovators. D) salespeople only. E) the mass media only.

A

11) Each of the following statements regarding online promotional communications is true except that ______. 11) ______ A) online complaints can serve the purpose of highlighting unmet customer needs B) marketing managers need not focus on online information they don't create C) customers often make purchases based on information that was not influenced by the product's marketing manager D) marketing managers need to know where customers are likely to search for information and monitor what is being said there E) customers who search online often find messages outside the marketer's control

B

14) A retailer's promotion objective might be to ______________ its target market about its marketing mix. 14) ______ A) inform B) Any of these might be a promotion objective. C) persuade D) remind

B

15) GEICO's aggressive advertising campaign of the late 1990s was designed to accomplish which of the following objectives? 15) ______ A) Enable the company to avoid filing bankruptcy B) Win customers away from established competitors C) Continue widespread recognition of the brand D) Target the low-risk market of federal employees E) Target the high-risk market of military personnel

B

18) Personal selling 18) ______ A) is communicating with large numbers of potential customers at the same time. B) involves direct spoken communication between sellers and potential customers. C) is less flexible than mass selling. D) involves advertising and publicity. E) is included in most marketing mixes as it is inexpensive.

B

19) Primary demand 19) ______ A) is the main form of mass selling. B) is the demand for the general product idea. C) is just the demand for the company's own brand. D) is any paid form of nonpersonal presentation of ideas, or services by an identified sponsor. E) is any unpaid form of nonpersonal presentation of ideas, goods, or services.

B

26) What happens during the sales decline stage? 26) ______ A) Promotion emphasis shifts from stimulating selective demand to building primary demand. B) The total amount spent on promotion usually decreases as firms try to cut costs to remain profitable. C) Firms do not need targeted promotion to reach customers. D) Sales promotion is primarily targeted at intermediaries to get them interested in selling the product. E) Personal selling will probably dominate the promotion blends of consumer products firms.

B

28) Direct marketing communication designed to prompt immediate feedback by customers is also called 28) ______ A) interactive communication. B) direct-response promotion. C) online marketing. D) direct mail advertising. E) downward communication.

B

31) Which of the following statements accurately defines the term "sales promotion"? 31) ______ A) It is "free" like publicity. B) It can complement a firm's personal selling and mass selling efforts. C) It is any paid form of nonpersonal presentation of goods or services by an identified sponsor. D) It involves direct spoken communication between sellers and potential customers. E) It consists of personal selling and mass selling.

B

32) A cleaning service that provides a description of its services via its website is most likely accomplishing which of the following promotion objectives? 32) ______ A) Prioritizing B) Informing C) Strategizing D) Persuading E) Reminding

B

35) Which of the following statements defines a sales meeting? 35) ______ A) It is a method of promotion implemented where the employees' effort is an expendable part of the product. B) It is a type of internal marketing effort which is a variation on the pushing approach. C) It is a type of external marketing effort. D) It is basically a variation on the pulling approach. E) It is a type of internal marketing effort which is a combination of both the pushing and pulling approach.

B

40) Which of the following promotional objectives is most likely being accomplished when a window company compares its windows to those of a competitor to show homebuilders why its products are superior? 40) ______ A) Reminding B) Persuading C) Informing D) Planning E) Rebutting

B

45) The source deciding what it wants to say and translating it into words or symbols that will have the same meaning to the receiver is termed as 45) ______ A) transmutation. B) encoding. C) exposition. D) recoding. E) decoding.

B

50) Relative to other promotion methods, _____ can usually be implemented quickly and get results sooner. 50) ______ A) personal selling B) sales promotion C) mass selling D) advertising E) publicity

B

51) The best way to reach INNOVATORS is through 51) ______ A) the mass media. B) impersonal and scientific information sources. C) salespeople and the mass media. D) local opinion leaders. E) salespeople.

B

9) The "adoption curve" shows 9) _______ A) the relationship between promotion spending and sales. B) when different groups accept ideas. C) when a firm should introduce a new product. D) how quickly a firm should drop current products. E) All of these alternatives are correct.

B

16) The AIDA model consists of four promotion jobs ______. 16) ______ A) becoming Aware, holding Interest, arousing Desire, and providing Assistance B) getting Attention, holding Interest, creating Demand, and obtaining Action C) getting Attention, holding Interest, arousing Desire, and obtaining Action D) getting Attention, building Intrigue, arousing Desire, and obtaining Action E) becoming Aware, holding Interest, arousing Desire, and obtaining Action

C

20) _____ means getting customers to ask intermediaries for the product. 20) ______ A) Branding B) Forecasting C) Pulling D) Underwriting E) Pushing

C

27) Budgeting for promotion expenditures by computing a percentage of past or expected sales 27) ______ A) will increase promotional expenditures when business is poor. B) is especially suitable for new products. C) is the most common method of setting the promotion budget. D) is a complex method of budgeting. E) none of these alternatives is correct.

C

30) Which of the following involves using normal promotion effort to help sell the whole marketing mix to possible channel members? 30) ______ A) Controlling B) Encoding C) Pushing D) Pulling E) Decoding

C

42) The basic promotion objectives and adoption process fit very neatly with an action-oriented model, which is called the ______. 42) ______ A) bricks and clicks model B) economic buyer model C) AIDA model D) DAGMAR model E) bait and hook model

C

44) What happens during the market maturity stage? 44) ______ A) The main job is to persuade customers to buy, and keep buying, the company's product. B) Business products require less aggressive personal selling. C) Mass selling and sales promotion may dominate the promotion blends of consumer products firms. D) Sales promotion may be targeted at channel members to get them interested in selling the new product. E) Mass selling becomes more economical.

C

46) Communicating with customers is known as the ________________ portion of the marketing mix. 46) ______ A) Pricing B) Positioning C) Promotion D) Place E) Production

C

49) Which of the following is NOT one of the basic promotion objectives discussed in the text? 49) ______ A) to persuade B) to inform C) to manipulate D) to remind E) All of these are promotion objectives.

C

52) When an individual initiates the communication process by searching for information about a business, which of the following search tools is he or she most likely to use? 52) ______ A) Television advertisement B) Newspaper advertisement C) Internet D) Billboard advertisement E) Business newsletter

C

1) The AIDA model includes all of the following promotion jobs except ______. 1) _______ A) obtaining action B) holding interest C) getting attention D) increasing demand E) arousing desire

D

12) _____ is communicating information between the seller and potential buyer or others in the channel to influence attitudes and behavior. 12) ______ A) Product B) Place C) Price D) Promotion E) Process

D

17) Early adopters 17) ______ A) tend to rely on information sources that are not controlled by marketers. B) are the first adoption curve group to buy a product. C) are commonly called buzz agents. D) tend to be opinion leaders. E) all of these alternatives are correct.

D

24) Selecting an effective promotion blend to reach a firm's promotion objectives requires careful consideration of the 24) ______ A) product life cycle stage. B) promotion budget available. C) nature of competition. D) All of these should be considered.

D

25) Which of the following is NOT a promotion method? 25) ______ A) personal selling B) sales promotion C) mass selling D) All of these choices are promotion methods.

D

3) Which of the following involves intentional coordination of every communication from a firm to a target customer to convey a consistent and complete message? 3) _______ A) Online marketing B) Branding C) Product positioning D) Integrated marketing communications E) Digital marketing

D

36) The innovators are the group of customers who 36) ______ A) tend to be older, less well educated, and cling to the status quo thinking it is the safest way. B) have fewer contacts outside their own social group or community. C) tend to have the greatest contact with salespeople. D) are likely to be mobile and have many contacts outside their local social group and community. E) tend to avoid risk and wait to consider a new idea after many early adopters have tried it-and liked it.

D

43) A producer using normal promotion efforts-personal selling, sales promotion, and advertising-to help sell a whole marketing mix to possible channel members has 43) ______ A) a target marketing policy. B) a pulling policy. C) a selective distribution policy. D) a pushing policy. E) an intensive distribution policy.

D

47) Wholesalers spend the largest share of their promotion money on ______. 47) ______ A) direct-mail advertising B) publicity C) sales promotion D) personal selling E) advertising

D

8) Sales promotion can be aimed at 8) _______ A) a company's own sales force. B) intermediaries. C) final consumers or users. D) Any or all of these is correct.

D

13) Decoding 13) ______ A) is any distraction that reduces the effectiveness of the communication process. B) is the process of transferring information from the subordinate to the superior. C) is the process of the source translating the message into words. D) is the process of the source deciding what it wants to say. E) is the process of the receiver translating the message.

E

23) How does advertising differ from any other form of promotion? 23) ______ A) It tries to attract attention to the firm and its offerings without having to pay media costs. B) It involves direct spoken communication between sellers and potential customers. C) It is the main form of personal selling which includes the use of traditional media as well as new media. D) It is any unpaid form of nonpersonal presentation of ideas, goods, or services. E) It must be paid for, while another form of mass selling-publicity is unpaid.

E

29) Communication with noncustomers, including labor, public interest groups, stockholders, and the government is generally referred to as ______. 29) ______ A) advertising B) branding C) publicity D) sales promotion E) public relations

E

33) The best way to reach EARLY adopters is through 33) ______ A) innovators. B) the mass media. C) impersonal and scientific information media. D) opinion leaders. E) salespeople and mass media.

E

34) Which of the following promotional objectives is most likely being accomplished when a real estate agent sends her customers a yearly calendar containing the agent's business logo? 34) ______ A) Persuading B) Rebutting C) Informing D) Planning E) Reminding

E

37) The early majority group 37) ______ A) prefers to do things the way they have been done in the past and are very suspicious of new ideas. B) tends to cling to the status quo and think it's the safe way. C) can help the promotion effort by spreading word-of-mouth information and advice among other consumers. D) tends to have the greatest contact with salespeople. E) tends to avoid risk and waits to consider a new idea after many early adopters have tried it-and liked it.

E

38) "Noise" (in the traditional communication process) refers to 38) ______ A) messages which are too loud or bold. B) radio advertising interference only. C) the encoded message before it is decoded. D) efforts by a firm's competitors to block its message channel. E) any distractions that reduce the effectiveness of the communication process.

E

53) The most common criticisms of promotion relate to ______. 53) ______ A) online reviews B) celebrity endorsements C) promotional contests D) publicity videos E) exaggerated claims

E

54) Early adopters, compared to innovators 54) ______ A) Rely more heavily on scientific or impersonal information sources. B) Adopt a new idea earlier. C) Are more willing to take risks. D) Are infrequently opinion leaders. E) Tend to have greater contact with salespeople.

E

6) Personal selling 6) _______ A) Is not usually combined with other aspects of promotion in the total marketing mix. B) Is indirect spoken communication between buyers and sellers. C) Is one of the least expensive components of the communications program. D) Is indirect written communication between buyers and sellers. E) Gets immediate feedback from consumers.

E

7) _____ is a promotion activity that tries to spark immediate interest in the consumer. 7) _______ A) Advertising B) Press release C) Personal selling D) Publicity E) Sales promotion

E

A "dealer brand" is sometimes called a __________ brand. a. private b. manufacturer c. regional d. national e. local

a

A product assortment is: a. the set of all product lines and individual products that a firm sells. b. a particular product within a product line. c. a set of products that are closely related. d. something offered by manufacturers but not by retailers. e. None of these alternatives is correct.

a

A(n) _____ is a special kind of warehouse designed to speed the flow of goods and avoid unnecessary storing costs. a. distribution center b. gateway for inventory c. RFID warehouse d. shopping mall e. UPC storage facility

a

According to the text, marketing means ______. a. much more than selling and advertising b. advertising c. selling and advertising d. producing and selling e. selling

a

An intermediary ______. a. is someone who specializes in trade rather than production b. tends to make the exchange process more difficult and costly c. usually increases the number of transactions required d. is a wholesaler-not a retailer e. None of these answers is correct.

a

Consumers remembering only what they want to remember is called ______. a. selective retention b. cognitive learning c. selective perception d. selective exposure e. conscious response

a

Discrepancies of quantity" means: a. the difference between the quantity of products it is economical for an individual producer to make and the quantity normally wanted by individual consumers or users. b. some consumers buy more products than others. c. some manufacturers can produce more products than others. d. that demand is greater than what a company can supply. e. there are more consumers than producers.

a

Extensive research indicated that Farmers' Insurance target customers would include all of the following EXCEPT a. price was their most important consideration when purchasing insurance b. make up 17 percent of the insurance market c. make up 28 percent of the insurance market spending d. have complex finances

a

Gross national income (GNI) is the: a. total market value of goods and services provided in an economy in a year by residents of that country. b. total market value of goods (but not services) produced in an economy in a year. c. manufacturers' selling price of goods (but not services) produced in a year. d. total market value of goods and services consumed in a year. e. None of these definitions of GNI is correct.

a

Marketers need to foster cooperation with various members of a channel system to prevent ________. a. channel conflict b. channel changing c. channel surfing d. channel competition e. channel confusion

a

Marketing ______. a. tries to anticipate and satisfy customer needs and accomplish an organization's objectives. b. is concerned with whether the whole economic system is fair and effective c. applies only to profit organizations d. is a social process only e. consists only of personal selling and advertising

a

The Federal Fair Packaging and Labeling Act: a. requires that consumer goods be clearly labeled to give consumers more information. b. ensures that all labels list the "green benefits" of using the product. c. requires food manufacturers to use a labeling format that allows consumers to compare the nutritional value of different products. d. spells out what kinds of marks (including brand names) can be protected and the exact method of protecting them. e. says that producers must provide a clearly written warranty if they choose to offer a warranty.

a

The ________ concept says that all transporting, storing, and product-handling activities of a business and a channel system should be thought of as part of one system—one system that seeks to minimize the cost of distribution for a given customer service level. a. physical distribution b. PERT c. distribution center d. product-market e. unique marketing

a

The complete set of firms, facilities and logistics activities that are involved in procuring materials, transforming them into intermediate or finished products, and distributing them to customers is called the ________. a. supply chain b. physical distribution group c. just-in time team d. Strategic logistics partnership e. logistics partnership

a

The process of marketing strategy planning is about ______. a. narrowing down possible market opportunities to the most attractive ones b. choosing the most profitable market opportunity, regardless of the firm's current abilities and resources c. creating products that managers like d. figuring out how to offer products at the lowest possible price e. identifying as many market opportunities as can be imagined

a

The regrouping activity which involves putting together a variety of products to give a target market what it wants is called ________. a. assorting b. bulk-breaking c. sorting d. accumulating e. wholesaling

a

The three basic tasks of ALL managers, according to the text, are: a. planning, implementation, and control. b. planning, staffing, and evaluating. c. marketing, production, and finance. d. execution, feedback, and control. e. hiring, training, and compensating.

a

The universal functions of marketing do NOT include ______. a. producing b. transporting and storing c. buying and selling d. standardization and grading e. financing and risk taking

a

The whole set of beliefs, attitudes, and ways of doing things of a reasonably homogeneous set of people is called a(n) ______. a. culture b. personal environment c. motivation d. learned set e. opinion set

a

What is the objective of a target return strategy? a. A specific level of profit. b. A specific share of the market. c. A specific mindshare of consumers. d. A specific sales volume. e. A specific share of competitors' sales.

a

Which of the following is a disadvantage of flexible pricing? a. It can cause discontent among customers who realize they have paid a higher price than others. b. It leaves opportunities for sales by not adjusting to customers. c. It results in broadcasting a price that the competition can undercut. d. It allows a salesperson to adjust the price depending on his customer. e. It allows a salesperson to adjust the price in response to competition.

a

Which of the following is not a valid criterion of a "good" market segment? a. Remarkable b. Heterogeneous between c. Homogeneous within d. Substantial e. Operational

a

Which of the following statements does not accurately characterize new-product development? a. New-product development has a low risk of failure. b. New-product development has a high risk of failure. c. Some companies move too fast to launch a new product. d. Some companies move too slow to launch a new product. e. New-product development is costly.

a

______________segmenting dimensions are those which actually affect a person's purchase of a specific product type or brand in a product-market. a. Determining b. Customer-related c. Situation-related d. Qualifying e. Operational

a

"Nationalism" is an issue in the ________ environment. a. technological b. political c. economic d. cultural e. competitive

b

4) Multichannel distribution: a. may create channel conflict. b. all of these alternatives are correct. c. may involve using both direct and indirect channels simultaneously. d. is becoming more common. e. may offer producers a way to reach customers they would not be able to reach with a single channel.

b

All of the factors below contributed to India's booming sportswear market EXCEPT a. rising incomes and discretionary expenditure in urban India b. an obesity problem among its poorest classes c. the proliferation of international brands represented by sports and Bollywood stars d. rising awareness of lifestyle diseases

b

Almost any business transaction in a modern economy involves ________. a. a loss of consumer surplus b. an exchange of money-the money being the Price-for something of value c. an exchange at a list price d. an exchange in which price serves as a measure of quality e. "dumping"

b

Direct ________ involves personal sales contact between a representative of the company and an individual consumer. a. marketing b. selling c. distribution d. servicing e. pricing

b

In the political environment, an emphasis on a single country's interests before everything else is called: a. Extremism. b. Nationalism c. Regionalism. d. Socialism. e. Elitism.

b

Positioning refers to how customers think about proposed or present brands in the market. Chick-fil-a positioning strategy include all of the following EXCEPT a. it is closed on Sundays to reflect culture and values b. they sublease to independent contractors c. they offer a simple menu with quality items d. they promote chicken over beef

b

Product line length indicates: the ______. a. the total customer lifetime value associated with the offerings in a product line. b. the number of individual offerings in a product line. c. the number of product lines that the company has to offer its customers. d. total number of products that the company has to offer its customers e. the number of intermediaries involved in the distribution of all the offerings in a product line.

b

Some customers encourage the use of ________ by paying more attention to supposed price discounts than to the actual prices (and values). a. fix prices b. phony list prices c. fair trade prices d. basic list prices e. unchanging list price

b

Tesla uses a direct distribution model. This model has its advantages and disavantages. Which of the following is NOT true about Tesla's direct distribution model? a. Tesla uses shopping centers, and online platforms to market and sell cars, instead of partnering with dealerships b. Tesla does not have to deal with the logistics of dealing with tons of tiny customers c. Tesla cars are not held in traditional inventory, so you have to wait for your gratification d. Tesla generates substantial and important cash-flow by collecting a deposit months before delivering a car

b

The product life cycle is divided into four major stages. They are ______. a. market introduction, profit growth, market maturity, and profit decline b. market introduction, market growth, market maturity, and sales decline c. ideation, market growth, market maturity, and investment decline d. concept introduction, market decline, market maturity, and sales decline e. market penetration, market growth, market maturity, and sales decline

b

What percent of Amazon packages are delivered by UPS? a. 10% b. 20% c. 50% d. 80%

b

Which of the following is true of the economic environment? a. It has no relationship to the technological environment. b. It can change very rapidly. c. It never requires marketing managers to make immediate changes in strategy. d. It is not affected by the way all of the parts of the macro-marketing system interact. e. It refers to micro-economic factors that do not affect business spending.

b

______ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes. a. Market positioning b. Market segmentation c. Mass marketing d. Implementation e. Strategic planning

b

A useful tool for organizing the competitor analysis is ________. a. rivals chart b. the table of competitive rivals c. a competitor matrix d. a competitor grid e. the oligopoly chart

c

A(n) ________ involves making small payments for a product over time—usually with interest payments built in. a. rebate b. quantity discount c. installment d. investment e. stocking allowance

c

According to the case study we discussed on Nike (previously known as Blue Ribbon Sports), in their first year of business in 1971, they made an admirable $8000 profit, but in 2017, the company was valued at what? a. $2-3 Billion b. $13-14 Billion c. $29-39 Billion d. $49-50 Billion

c

According to the text, "product": a. refers to goods but not services. b. means a physical good. c. means the need-satisfying offering of a firm. d. includes all the elements of a marketing mix. e. All of these choices are good answers.

c

Brand recognition, brand preference, and brand insistence are various levels of ______. a. brand marks b. brand equity c. brand familiarity d. brand rejection e. branding

c

By law, a firm may call a new product "new" for only a stipulated period of time. Such regulations are established by the ______. a. Consumer Product Safety Commission (CPSC) b. Food and Drug Administration (FDA) c. Federal Trade Commission (FTC) d. Environmental Protection Agency (EPA) e. US Department of Justice (DOJ)

c

During the development step of new product development, a firm could develop a ______, an early sample or model built to test a concept. a. embryo concept b. creation c. prototype d. ideatype e. concept test

c

Gross domestic product (GDP) is the: a. manufacturers' selling price of goods (but not services) produced in a year. b. total market value of goods and services consumed in a year. c. total market value of goods and services provided in an economy in a year by both residents and nonresidents of thatcountry. d. total market value of goods (but not services) produced in an economy in a year. e. None of these definitions of GDP is correct.

c

In general, marketers that seek greater control over their marketing mixes in the international environment will: a. use intensive distribution. b. hire more marketing managers. c. invest more financial resources and take greater risks. d. choose to export or license. e. set up traditional global channels.

c

Neuroscience is a growing measure of the effectiveness of a variety of marketing methods. Neilson Company is a leader in measuring consumer neuroscience. In one test, Nielson used consumer neuroscience to suggest ways college educators could best communicate the value of a liberal arts education to prospective students. Which quote below had the least appealing response to readers? a. The marketplace demands the broad-based skills developed with a liberal arts education. b. Cutting edge skills are only relevant until the technology changes. c. CEO's hire effective communicators and tireless collaborators with critical thinking skills.

c

Price is a rough measure of ______. a. company costs b. company profit c. customer value d. market supply e. economic inflation

c

Speeding the flow of products and avoiding unnecessary storing costs is the primary function of a ________. a. public warehouse b. private warehouse c. distribution center d. merchant wholesaler e. commodity warehouse

c

Steve Jobs warned Kamen the Segway's image could be ruined by a single rider falling off and hurting themselves. Which high profile incident did NOT occur with Segway? a. President George W. Bush fell off a Segway during a vacation at his family's compound in Maine. b. British journalist Piers Morgan broke three ribs after he fell off a Segway. c. Steve Jobs wife broke her wrist and suffered a concussion while falling off a Segway. d. The owner of Segway was killed after he steered his Segway off a 30-foot cliff.

c

The ________ bans "unfair or deceptive acts in commerce." a. Emblems Act b. Excessive Bail Act c. Wheeler-Lea Amendment d. Excessive Punishment Act e. Trade Name Amendment

c

The stage of the new-product development process in which marketers evaluate the firm's strengths, weaknesses, and objectives is ______. a. idea evaluation b. development c. screening d. commercialization e. idea generation

c

Use this information for question that refer to the United Tools case.Terry Harter is marketing manager for United Tools and Mike O'Reilly is the firm's logistics manager. They work together to make decisions about how to get United's hand and power tools to its customers-a mix of manufacturing plants and final consumers (who buy United tools at a hardware store). United Tools does not own its own transport facilities and it works with wholesalers to reach its business customers.Together, Harter and O'Reilly try to coordinate transporting, storing, and product handling activities to minimize cost while still achieving the customer service level their customers and intermediaries want. This usually requires that United keep an inventory of most of its products on hand, but demand for its products is fairly consistent over time so inventory is easy to manage.Harter has identified four options for physical distribution systems she could use to reach two of her key wholesalers, Ralston Supply and Ricotta Tool Co. The total cost for each option-and the distribution service levels that can be achieved-are as follows: Main feature of systemTotal CostDistribution Service Level1.Airfreight$1,000,00095 percent2.Inland Waterways$300,00060 percent3.Trucks$500,00070 percent4.Rail and regional warehouses$650,00080 percentRalston Supply expects a very high level (90 percent) of distribution customer service. Ricotta Tool Co. is willing to settle for a 70 percent customer service level, even if that means some products will occasionally be out of stock, if it gets products at a lower price.For its large retail hardware customers (like Home Depot), United regularly ships smaller orders directly to individual stores or in some cases to the retail chain's warehouses. Cross-country shipments usually go by rail while regional shipments usually go by truck.United's shipments to international markets often rely on containerization. The likely reason for this is that a. containerization is very useful for small, frequent shipments. b. the tools are shipped by airfreight. c. it makes it easier to move shipments between different transportation modes. d. containerization allows a firm to carry less inventory. e. all of these are benefits of containerization.

c

When Steve Jobs was hired back at Apple in 1997, one of the first things he did was to eliminate ___ of Apple's product line to focus on the "gems". a. 10% b. 50% c. 70% d. 90%

c

When a consumer puts much effort into deciding how to satisfy a need, he engages in ______. a. intensive problem solving b. limited problem solving c. extensive problem solving d. routinized response behavior e. critical problem solving

c

Which of the following is a quantitative screening criterion for evaluating opportunities? a. Resources the firm should build on b. Return on investment (ROI) target for the firm c. Kinds of business the firm wants to be in d. Weaknesses the firm should avoid e. Kinds of business the firm wants to exclude

c

Which of the following is an example of the "micro-macro dilemma?" a. A person drives without fastening his seat belt even though a warning light and chime remind him to "buckle up." b. A homeowner purchases a ladder but falls off it because he didn't set up the ladder according to the safety instructions posted on it. c. A restaurant owner uses plastic containers to keep "take-out" food warm for customers, but the containers cannot be reused or recycled. d. A person is injured while using a power lawn mower because of a small stone that is hurled from the discharge chute. e. A person gets a speeding ticket because she was talking on her cell phone while driving and didn't notice a speed limit sign.

c

"Discrepancies of assortment" means: a. consumers want more output than producers can make. b. some consumers buy more products than others. c. some producers can produce more products than others. d. the difference between the product lines the typical producer makes and the assortment wanted by final consumers or users. e. there are more producers than wholesalers.

d

"Positioning" is a marketing management aid that refers to: a. a firm's ability to distribute products through intermediaries who are in the right position to reach target customers. b. how a firm approaches customer relationship management. c. a product's ability to provide both immediate satisfaction and social responsibility. d. how customers think about proposed and/or present brands in a market. e. all of these alternatives are true.

d

A(n) ______ is a person's point of view toward a product, an advertisement, a salesperson, a firm, or an idea. a. impression b. belief c. cue d. attitude e. preference

d

According to the video we watched on the premium dog market, which statement is true? a. The total pet market is valued at $41 Billion b. The pet market is the 2nd highest shopping category behind electronics c. The pet market grows 6% annually d. All of the above

d

Apple spent a lot of time studying the Swiss watch industry before releasing their watch. In spite of manufacturing just 29 million finished watches in 2014, representing just 2.3% of worldwide industry production volume, Swiss watchmakers accounted for nearly ____ of retail expenditure. a. 37% b. 47% c. 57% d. 67%

d

Industry sales are highest in which of the following product life cycle stages? a. Market growth b. Market development c. Sales decline d. Market maturity e. Market introduction

d

Merging two or more submarkets into one larger target market as a basis for one strategy is known as the ____ target market approach. a. compound b. blended c. particular d. combined e. multiple

d

Product-market screening criteria should be: a. realistic and achievable. b. quantitative. c. qualitative. d. all of these are correct.

d

Since individual firms cannot perform all marketing functions, ______ often play a role in the exchange process. a. government regulators b. marketing managers c. consumers d. intermediaries e. nonprofits

d

The 80/20 rule-that 80 percent of a company's sales often come from just 20 percent of its customers-is a good reason for marketers to use ________. a. intensive distribution b. international distribution c. exclusive distribution d. selective distribution e. multichannel distribution

d

The Man Your Man Could Smell Like advertising campaign was one of the most successful of all time. Which statement below is NOT TRUE about Old Spice and the advertising campaign. a. research showed that 60-70% of all male toiletry products are bought by women b. Axe spent $30 million dollars in advertising in 2009 while Old Spice only spent $7.5 million c. Old Spice hired Wieden & Kennedy ad agency to create the campaign d. Old Spice is owned by Unilever

d

The marketing concept is a strategic way of approaching business that contrasts sharply with ______. a. the triple bottom line b. the profit orientation c. macro-marketing d. the production orientation e. the marketing orientation

d

The physical distribution ________________________ is how rapidly and dependably a firm can deliver merchandise in demand through the appropriate channels. a. product service level b. trade-offs service level c. efficiency service level d. customer service level e. standard service level

d

Underlying any economic environment is technology which affects: a. how aggressive competitors are in planning new marketing strategies. b. how quickly technological developments lead to new consumer protection laws. c. how fast consumer attitudes change. d. how the economy's resources are converted to output. e. how competitors react to each other.

d

What is the competitive advantage of Amazon? a. Price b. Promotion c. Product d. Logistics

d

Which of the following countries' governments passed a soda tax to restrict the production and sale of sugary soft drinks? a. The Netherlands b. India c. Australia d. France e. Germany

d

Which of the following is NOT a major step in the learning process? a. Reinforcement b. Cues c. Response d. Dissonance e. Drive

d

______________ (as a way to enter foreign markets) means selling the right to use some process, trademark, patent, or other right for a fee. a. Joint venturing b. Direct investment c. Management contracting d. licensing e. Exporting

d

"Good" market segments are those which are: a. operational. b. heterogeneous between. c. homogeneous within. d. substantial. e. All of these choices are correct.

e

A manufacturer that transports products to retail outlets directly instead of using a distribution center is most likely to encounter which of the following? a. Slower delivery speed at lower cost b. Slower delivery speed at equivalent cost c. Equivalent delivery speed at lower cost d. Faster delivery speed at equivalent cost e. Faster delivery speed at higher cost

e

In a ______ the individual decisions of the many producers and consumers make the macro-level decisions for the whole economy. a. mixed economy b. controlled economy c. command economy d. production-oriented economy e. market-directed economy

e

Marketing ______. a. tries to make the whole economic system fair and effective b. is a social process involving all producers, intermediaries, and consumers c. involves persuading customers to buy your product d. begins with the production process e. tries to accomplish a company's objectives by anticipating customers' needs and trying to satisfy them

e

The PSSP four-level hierarchy of needs includes ______. a. physiological needs, psychological needs, social needs, and financial needs b. psychological needs, financial needs, social needs, and personal needs c. psychological needs, safety needs, social needs, and personal needs d. physiological needs, psychological needs, safety needs, and personal needs e. physiological needs, safety needs, social needs, and personal needs

e

The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called ________. a. market planning b. marketing strategy planning c. management by objective d. marketing programming e. strategic (management) planning

e

When individual firms set their own prices-sometimes holding them steady for long periods of time-rather than letting daily market forces determine prices, such prices are called ________ a. equilibrium prices b. fixed prices c. parallel prices d. flexible prices e. administered prices

e

When looking for attractive opportunities, a marketing manager should consider: a. the firm's producing capability and flexibility. b. whether the firm has good relations with established intermediaries. c. the firm's marketing strengths. d. the firm's financial strengths. e. All of these should be considered.

e

Which of the following is not an example of price? a. interest on a loan b. apartment rent c. college tuition d. doctor's fee e. All of these are examples of price.

e

Which of the following products would have the lowest transporting costs as a percentage of the selling price? a. Electronic equipment b. Sand and gravel c. Manufactured food d. Chemicals and plastics e. Pharmaceuticals

e

______ refers to a firm's obligation to improve its positive effects on society and reduce its negative effects. a. The nonprofit orientation b. Legal obligations c. The micro-macro dilemma d. Marketing ethics e. Social responsibility

e

________ is the expected earnings stream of a firm's current and prospective customers over some period of time. a. Net value b. Earnings c. Profit d. Operating profit e. Customer equity

e

What does QSR stand for when it comes to the industry that YUM Brands is in?

quick service restaurant