Marketing Midterm
The discovery of silk lead to the development of A The Silk Road B New weaving technologies C New clothes D Currency E All of the above
All of the above
The best example of a "Public Good" is
An army
Segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product.
Behavioral
A "................................" is a name, term, sign, symbol, design, or a combination of these, that identifies the maker or seller of a product or service.
Brand
The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands is known as
Business buying process
If I lived in a place that was frequented by tourists, I might have an incentive to
Sell you a product that doesn't work the way I said
A"................................." is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges.
Product Line
There are only two ways to increase the profitability of the firm, increase demand and or
Reduce marginal cost
".................................." are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.
Services
A mission statement serves as a
Statement of the organization's purpose
"..............................." Are human needs that are shaped by culture and individual personality
Wants
Which of the following is NOT an example of product-oriented mission statements? A "We rent hotel rooms." B "We sell athletic shoes." C "We are an online library." D "We sell memorable experiences." E "We run theme parks."
"We sell memorable experiences."
Which of the following is an example of a pure tangible good? A An online shoe retailer that provides free home delivery B An agency that offers free legal advice C A can of Diet Coke D A laptop with a comprehensive warranty for three years E A credit card
A can of diet coke
The College of Business reordered 50 printers from the designated provider without any modifications. This is an example of..
A straight re buy
"...................................." Are industrial products. A Laundry detergents B Major appliances C Life insurance policies D Legal services E Cleaning supplies for Austin Hall
Cleaning supplies for Austin Hall
The penetration price came best be compared to the
Competitive price
Individuals and households that buy or acquire goods and services for personal consumption make up the
Consumer Market
is the most basic determinant of a person's wants and behavior.
Culture
Which of the following is the first step in strategic planning?
Defining the organizational mission
Delta Motorworks markets its cars based on the age, gender, and income of its customers. Which of the following types of market segmentation is evident here?
Demographic segmentation
The marketing mix consists of the price, the product/service, the promotional activities and
Distribution Strategy
The strategy that can obtain the most profit is
Engaging in price discrimination
Segmentation assumes that nations close to one another will have many common traits and behaviors.
Geographic
refer to members of the buying organization who help define specifications and provide information for evaluating alternatives.
Influencers
A(n)".......................... " is the set of actual and potential buyers of a product or service.
Market
"............................" consists of evaluating each market segment's attractiveness and selecting one or more segments to enter.
Market Target
Which of the following is NOT an accurate description of modern marketing? A Marketing is the creation of value for customers. B Marketing is building value-laden exchange relationships with customers. C Marketing emphasizes selling and advertising exclusively. D Marketing involves managing profitable customer relationships. E Marketing involves satisfying customers' needs.
Marketing emphasizes selling and advertising exclusively.
The reason a pencil is sold for @ $.15 is because
Markets
A"........................." documents an organization's purpose—what it wants to accomplish in the larger environment.
Mission Statement
Ralph works for a Sky High brewing in Corvallis. Recently, he called in a department manager to assist in the purchase of some new fermentation tanks. After consulting the department manager, Ralph is considering a change in product specifications and characteristics and expects suppliers to meet his requirements for the tanks. Which of the following is evident here?
Modified re buy
Rachel loves fashion and is always seen wearing the trendiest fashion outfits. She actively shares her knowledge with a wide group of friends and colleagues about where to shop for the latest fashion at great deals. Most of her friends and colleagues follow her fashion tips. Rachel portrays the image of a(n) .
Opinion Leader
A company that uses well-known celebrities to help sell its products is using "........................." marketing.
Person
".........................." help companies stock and move goods from their points of origin to their destinations.
Physical distribution firms
".........................." consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
Positioning
The most important P of the four P's is
Price
"..................................." Are the major marketing factors in the sale of most manufactured materials and parts.
Price and service
What is the profit maximizing price?
The monopoly price
the monopoly price is
profit maximizing