Marketing Final

a channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity is referred to as

horizont marketing system

a channel arrangement in which two or more companies at one level join to together to follow a new marketing opportunity is referred to as

horizontal marketing system

moving products and materials from suppliers to the factory

inbound

ensures that all form of communications and messages are carefully linked together

integrated marketing communication

-paid -builds exposure -audience is skeptical -guaranteed placement -complete creative control -ads are mostly visual -more expensive -"buy this product"

advertising

company offers a monetary sum to retailers who agree to feature its new product on their shelves for a considerable time period. In this case, the promotion tool used by the company is referred to as

allowance

promotional money paid by many retailers in return for an agreement to feature the many products in same ways

allowance

setting a price for by products in order to make main products price more competitive

by- product pricing

T/F most producer sell their goods directly to final user

FALSE

T/F introducing intermediaries into a distribution chain increases the number of direct channel transactions between a manufacturers and its customers

True

today in digital mobile and social media environments, many buyers are more receptive - or even prefer- phone and online contact versus the high level of face to face contact once required T/f

True

a____ describes a persons relatively consistent evaluation, feelings and tendencies toward an object or idea

attitude

online vistors can't buy anything at ESPN.COM. instead, the site creates a virtual experience for sports enthusiasts and fans that can be customized to meet their needs. This is most likely an example of an

branded community web site

setting prices to break even on the cost of making and marketing a product and setting price to make a target return.

break-even pricing (target return)

as with other types of marketers, a primary goal in wholesaling is to

build value adding customer relationships

setting a price for products that must be used along with products.

captive product pricing

adding a standard markup to the cost of the product

cast-plus pricing, (markup pricing)

setting price based on the costs of producing, distribution and selling the product plus a fair rate at return for effort and risk.

caste based pricing

is a discomfort caused by post purchase conflict

cognitive dissonance

changing the communication for a product due to change in strategy, line extension

communication adaption

when adapting advertising message, media may also need to be adapted internationally because media availability and regulation vary from country to country. This illustrates

communication adaption

setting prices based on competitor strategies, pries, caste and market offering

competition based pricing

Two major citizen action movements to keep businesses in line are

consumerism and environmentalism

more than 80% of McDonalds worldwide are owned and operated by franchisees, this illustrates a ___ marketing system

contractual vertical

it has each channel member acting as a separate business unit trying to maximize its own profits

conventional distribution channel

for most companies, the first step in conducting online marking is to

create a web site

setting prices based on buyers perception of value rather than the sellers cost

customer value based pricing

Which sustainable marketing principle emphasizes building long run consumer engagement, loyalty and relationship.

customer value marketing

are the most important actors in a company microenvironment

customers

using databases of customers or potential to generate personalized communication in order to promote a product or service for marking purpose

data base

a curve that shows the number of units the market will buy in a given time period at different prices that might be charged

demand curve

a major retail chain across the united states, offers a wide range of consumer goods such as clothing, furniture, home appliances and food. This is best described as

department store

___ marketing involve engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relations

direct and digital

-more targeted and interactive -immediate and personalized

direct and digital marking

when someone targets a selective market of individuals who have recently donated to international charities by sending letter with charity information and donation instructions. They are suing _____

direct mail marking

engage directly with targeted individuals consumers and customer communities to obtain an immediate response

direct marking

a reduction in price on purchases during a stated period of time

discount

account for the largest portion of firms online advertising spending

display and search-related advertisements

services as distribution channels and not links the firm and its customers.

downstream

an adjusting prices continually to meet the characteristics and needs of individuals customers and situation.

dynamic pricing

high end luxury brands like Bently, Louis Vuitton, and Rolex use _____ distribution, a limited number of dealer the sole right to sell the products.

exclusive

the simplest way to enter a foreign market is through

exporting

T/F in consumer product companies such as NIKE, or P&g, the sales force works directly with customers

false

T/F sales promotion constitute the interpersonal arm of the promotional mix

false

T/F the goal of any logistics system should be to maximize sales, not profits

false

cost that do not vary with production or sales level

fixed cost

what is the last step in the selling process

follow-up

operate in more than on country, gains research and development, production, marketing and finial advantages

global firms

offering just the right combination of quality and good service at a fair price

good value pricing

generally regarded as the toughest issue of public policy and ethics confronting the direct marketing industry

invasion of consumer privacy

what do most companies today focus on when it comes to protecting the environment

investing heavily in pollution prevention

companies often form _______ ventures to merge their complementary streghts in developing a global marketing opportunity

joint ownership

is a method of entering a foreign market by associating with foreign companies to produce or market products of service

joint venturing

providing a host country partner the right to use a company manufacturing process, trademark, patent, trade secret or item of value is referred to as

licensing

involves planning, implementing and controlling the physical flow of goods and services to customers for profit.

logistics

department stores supermarkets warehouse retailers speciality retailers superstore convince retailers discount retailers are all?

major store retailer types

a common criticism of marketing system is that intermediaries

mark up prices beyond the value of their services

setting a low price for a new product in order to attract a large number of buyers and large market shares

market penetration pricing

setting a high price for a new product to skim maximum revenues layer by layer from the segments willing to pay

market skimming pricing

catalog is a traditional ____

marketing tool

best describes the term "Madison and vine"

merging advertising with entertanment

______ can provide one the go product information, price comparisons, advice and reviews from other consumers, and access to instant deals and digital coupons

mobile Marketing

compared to standardized global marketing, adapted global marketing....

modifies marketing strategies to meet local needs

what is the first stage of the buyers decision process

need recognition

the most logical budget setting method in advertising is the ____ method

objective-and-task

___ creates a seamless cross-channel buying experience that integrates in-store, online, and mobil shopping

omni-channel retailing

refers to marking via the internet using company web sites, online advertising and promotions, email marking, online videos and blogs

online marketing

the pricing of optional/ accessory products along with a main product.

optional product pricing

in managing their international marketing activities, most companies fist

organize an export department

moving products from the factory to resellers and ultimately to customers.

outbound

____ is the process by which people select, organize and interpret information to form a meaningful picture of the world

perception

sources of product information can marketers control completely

personal

persona presentations by a sales force to engage customers, makes sales and build customers relations

personal selling

some companies intentionally manufacture their products with materials or components that will break wear, rust faster than they should. This practice is called

planned obsolescence

cracker jack become popularized due to its free prize inside every box, which promotion tool does this exemplify

premium

the amount charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or services

price

a measure of the sensitivity of demand to charge in price

price elasticity

is the process of modifying an existing product so it is suitable for different consumer markets

product invention

setting the price steps between various products in a product line based on cast.

product line pricing

a specific blend of promotion tools -advertising -sales promotion -personal selling -public relation -direct and digital marketing

promotion mix

temp pricing products below the list prices, and sometimes even though below vast, to increase short-run sales

promotion pricing

when someone attend trade shows to identify potential customers build long term profitable relationships. They are engaging in which step of the selling process

prospecting

pricing that considers the psychology of prices not simply the economic.

psychological pricing

The most effective sources of information about a product tend to be

public

-earned -builds trust -media gives third party validation -no guarantee, must persuade media -media controls final version -PR uses language -less expensive -"This is important"

public Relations

-very believable to readers -can dramatize a company or product -reaches many prospects -effective and economical when though out

public relations

how have social media tools most likely affected personal selling.

reducing the use of person to person selling efforts

services like hotels, banks, airlines, restaurants, colleges and hospitals can all be?

retailed

business whose sales come primarily from retailing

retailer

___ refers to the activities involved in selling products or services directly to final consumer for their personal, nonbusiness use

retailing

tighter consumer spending pattens impact the great recession on...?

retailing trends

reusing, recycling, refurbishing, disposing of broken or excess products retuned by customers or resellers

reverse

-wide assortment of tells with unique qualities. -attracts attention and offers incentives to purchase - use dramatize product offers and boost sales -invited and rewards quick response but has short lived effects

sales promotion

in a marketing communication mix _____ refers to any short-term incentive that encourage the purchase or sale of a product or service

sales promotion

short term incentives to encourage the purchase or sale of a product of service

sales promotion

invective marketing most likely involves

seeking real product and marking improvements

The primary role of the staff is to restock shelves and operate cash registers. Customers locate, compare, and select their groceries and other Sunday items. This is most likely a

self service retailer

when a company makes marking decision by considering consumers wants and interest, the company's requirements, and society long run interest, it most likely prating _____ marketing

societal

when a company makes marking decisions by considering consumers wants and interest, the company requirements and society long run interests, it is most likely prating ___ marking

societal

American Tie company, necktie retailer, offers a deep assortment of mens neckties, The American tie company is best decried as a

specialty store

chips of joy has decided to use the same marking strategy approaches and marking mix worldwide for all of its brands. The only change that will be made is language, translation on the various packing. Chips of joy is using ____ marking strategy

standardize global

retailers must decide on three major product variable. -product assortment -service mix and...?

store atmosphere

managing upstream and downstream value-added flows of materials , final goods ad related information among suppliers, the company, reseller, and final consumers is know as

supply chain management

___ marking calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

sustainable

_____ marking calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while also preserving the ability of future generations to meet their needs

sustainable

pricing that starts with an idea selling price, then targets cost that will ensure that the price is met

target casting

how has the internet most likely affected direct and digital marketing

the expenditures on direct and digital marketing have increased

the activity or profession of producing advertisements for commercial products or services

the professional maintenance of a favorable public image by a company.

which aspect of niche online social networks makes the medium most appealing to marketers.

they cater to the need of small communities of like minded people

the sum of the fixed variables out for any given level of production

total costs

T/F most internation companies strive to adapt global brands to local needs

true

supply the row material, companies, ports, information, finances and expertise needed to create a product or service

upstream

the growth of the internet caused many traditional companies to___ in response to customer demands and a changing marketplace

use Omni-channel retailing

a __ is made up of a company, its suppliers,distubtiors and ultimately customers who "partner" with each other to improve the performance of the entire system

value delivery network

is made up of the company, suppliers, distributors, and ultimately customers who "partner" with each other to improve the performance of the entire system

value delivery network

cost that vary directly with the level of production

variable cost

it has one channel member owning all the other channel members or has contract with all other channel members

vertical marking system

person/company who sell goods in large quantities at low prices

wholesaler

___ includes all the activities involved in selling goods and services to those buying them for resale or business use

wholesaling