MARKETING

The computer term GIGO is used as a caution for those developing marketing information systems. This is because good decisions require?

Good information

Which of the following is NOT a source of internal data used in a marketing information system?

Google searches // an information silo

Which of the following is typically a responsibility of the marketing function in an organization?

Identify consumer needs / Listen to the market / Create need-satisfying offerings.

What is the point your instructor made about the importance of the stakeholder concept in marketing?

In the long-run, a business cannot succeed unless it meets the needs of all of its stakeholders.

What is the point your instructor was trying to make when discussing the "law of large numbers"

That if you have a large enough group of people there will probably be subgroups who are similar to each other at least in the way they perceive your product.

According to the textbook, countless forces, groups and people interact to shape an organization's marketing activities. Foremost among these is?

The organization itself

What do we mean when we say a customer has the ability to buy a product?

The person has the time, money and authority to make the purchase

According to your textbook, the average consultative sales call costs?

$350

Last year, BruceCo sold 1000 coffee cups for $10 each. If the cost for each cup was $4.70, what was the average revenue for BruceCo?

10

Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the marginal revenue for the 1125th cup?

10

Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the average revenue?

10.25

BruceCo is planning on selling coffee cups for $14 each. The company can buy the cups for $2.00 and have them printed for $1.50. The package costs fifty cents. There is a one-time set up charge from the printer of $1000. How many coffee cups will BruceCo have to sell in order to break even?

1000

BruceCo is planning on selling coffee cups for $14 each. The company can buy the cups for $2.00 and have them printed for $1.50 each. The package costs fifty cents per cup. There is a one-time set up charge from the printer of $1,000. In order for the project to go forward, the company needs to show a $10,000 profit. How many cups of coffee will BruceCo have to sell in order for this project to be acceptable?

1100

A research study conducted on 1000 large US corporations concluded that small changes in price can have a large impact on units sold and on profits. The study found that a 1% increase in price translates to a _____ increase in profits, other things being the same?

12%

The final grade for is based on mini test scores (50%) and the final exam (50%). Jum had a total of 125 on his mini tests and a 35 on the final exam. Jum's final grade was?

125/130= 96%; 35/50=70%; (70+96)/2= 83% Jum earned a B

BruceCo is planning on selling coffee cups for $9.75 each. The company can buy the cups for $2.25 and have them printed for $1.69. The package costs 27 cents. There is a one-time set up charge from the printer of $700. Advertising expenditures for the project are $5999 and an insurance policy will cost $300/year. According to the sales forecasts, there is a maximum demand for this product of 24,000 units and marginal revenue will equal zero when the 1264th unit is sold. What is the breakeven point in units for Bruce Co?

1264

Research has shown that the influence of family on the consumer buying process is very strong. This is because many of the consumption patterns we have for products are formed by the time we are ____ years old?

16

The rule of thumb for college level work is that to be successful, you should be putting _________ hours outside of class for every hour in class?

2 to 3

When developing contingency plans, your instructor recommends developing a minimum of _______ contingencies?

3

Last year, BruceCo sold 1000 coffee cups for $10 each. If the cost for each cup was $4.70, how much profit did BruceCo make?

5,300

Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the marginal profit for the 1125th cup?

5.30

Principles of Marketing is a three credit hour class. The rule of thumb for college level work says that (in addition to attending class or viewing the lectures) if you want to succeed in this class you should be spending _________ additional hours studying each week?

6-9

According to the example in the textbook, a 5 percent improvement in customer retention can increase a company's profits by:

70 to 80 percent

Why is an understanding of attitudes important to understanding consumer brands?

A brand is essentially an attitude with a product

What is the difference between a business customer and an individual consumer.

A business buys products in order to make money while an individual buys products for personal enjoyment. Mass marketing techniques are usually less cost effective in business marketing than in consumer marketing because there are fewer business customers than individual consumers.

Which company is likely to change its prices the most frequently?

A company that sells collectible dolls over the internet

Which of the following companies will have the easiest time in changing its price?

A company that sells rocket engines to NASA

Which of the following statements best describes the consumer buying process discussed in class?

A consumer trying to satisfy a need through a purchase is actually solving a personal problem.

A continuous innovation is...?

A continuous innovation is all of these things

What is a customer?

A customer is all of these.

An indirect channel of distribution consists of?

A customer, a retailer, and a producer

What is the difference between data and information as discussed in class?

A datum is a fact; information is a fact that is used in making a decision.

What is the difference between data and intelligence as discussed in class?

A datum is a fact; intelligence is a full appraisal of information.

Which of the following is NOT an example of a third-party provider of logistics?

A design firm

A discontinuous innovation is...?

A discontinuous innovation is all of these things

What is this keiretsu that your textbook speaks of?

A form of vertical channel integration practiced in Japan

Which of the following situations is probably illegal price discrimination as determined by the Robinson-Patman Act?

A gasoline refinery sells gasoline to its dealers for 50 cents less than to independent dealers because it doesn't want independent dealers selling gasoline at lower prices than the company's dealer network.

The difference between a manufacturer's selling office and a manufacturer's representative is...?

A manufacturer's selling office is owned by the company while a manufacturer's representative is an independent contractor

Which of the following is a condition necessary for exchange to occur?

A means of communication Voluntary participation. There must be at least two parties involved.

Which of the following people would most likely be a potential customer for a Ferrari luxury car?

A millionaire who already owns a Ferrari

What is the difference between a need and a want as discussed in class?

A need is a perceived lack of something, a want is a culturally defined way to satisfy the need

What would a reader expect to find in the executive summary of a research report?

A one-page summary of the project including major findings.

Which of the following situations describes a business customer?

A person who buys yarn in order to knit baby clothes for sale on her "darned babies" website/ A not-for-profit organization that buys copier paper in order to make flyers announcing a charity fundraising event.

Which of the following is tactics is most likely to encourage customers to pay your asking price for a product.

A price tag that looks like it was professionally printed

What do we mean when we speak of advertising "campaigns"?

A series of advertisements in one or more media to achieve a specific objective for a limited time.

Price elasticity is the slope of the demand curve. When price elasticity is LOW...?

A small change in price will lead to a small change in quantity demanded / You can increase revenues by increasing prices

What do we mean when we speak of the 80/20 rule?

A small fraction of a firm's customers provide a large fraction of a firms sales

What is a marketing information system?

A system developed around information sources, computer systems and decision makers to provide good marketing information at the time it is needed

________________ is the basic unit of exchange?

A transaction

In class, we discussed a number of characteristics of the internet. Which of the following is a consequence of the Graphic interface characteristic?

A well designed, visually appealing website suggests to a customer that your business is legitimate

Which of the following is NOT a functional benefit of packaging

Acting as a silent salesperson

Desiree knows that she does not have very much money. Yet she dreams of being rich and famous like one of those Hollywood stars you see on television all the time. Her one luxury is to buy fashionable designer dresses just like those worn on her favorite television shows. In order to survive, she eats day old bread and lots of rice because it is very inexpensive. Desiree's desire to save money on food which she eats alone is motivated by her ______?

Actual self-concept

Each business will use a different combination of promotional tools. The actual tools selected will depend on...?

Actually, it depends on all of these

All of the elements of the Consumer Bill of Rights have become law in the United States, EXCEPT for...?

Actually, the Consumer Bill of Rights is not the law in the United States; rather it guides the thinking of legislators and the courts in determining commercial law

In order to be useful, criteria used to measure progress toward a goal should be all of these EXCEPT?

Adaptable

Sometimes, even there is no formal agreement, a channel of distribution operates as a centrally controlled system. Usually this is when one member of the channel is so powerful relative to the others that it can tell the others what to do. This is an example of ___________?

Administered system

Marketers and lawyers disagree about what is the best thing to do when you make a mistake in delivering a service. Marketers are likely to...?

Admit to making a mistake and work with the customer to resolve the problem

According to your instructor, which of the following is one of the LEAST important influences on the consumer buying process

Advertising

Selah has taken over as brand manager for a line of chewing gum. The product is very inexpensive and people treat it as an impulse purchase. Her primary promotional objective is to remind consumers that the product exists so that they will be likely to pick it up the next time they are in the mood for gum. This product appeals to virtually everybody and they have an intensive distribution strategy. Which promotional tool might work best as the primary tool in this situation?

Advertising

Which of the following forms of promotion gives marketers the greatest degree of control over the message?

Advertising

Which of the following is NOT an issue typically addressed through distribution?

Advertising

_____________ is any form of non-personal communication about an organization, a good, a service or any idea identified by a sponsor?

Advertising

Sales data is frequently used as a measure in marketing plans. Which of the following is NOT a commonly used sales measure?

Advertising expenditures

Which of the following is NOT a cost typically associated with logistics?

Advertising/Product development

In the California general election, it is not unusual for a company to run an advertisement for/against a proposition stating that the proposition is good/bad for the economy and a waste of tax dollars/source of tax revenue. The objective of these institutional advertisements is probably _______________?

Advocacy

After the Super Bowl football game, Mark got a phone call from a polling organization. The person on the phone read a list of all of the commercials that ran during the game and asked mark whether he remembered seeing each one. This is an example of a(n) ___________ test of advertising effectiveness?

Aided recall

Carlina operates a wholesale flower market serving florists in her city. She orders her roses from Ecuador because the quality is good and the prices are very competitive. Because the roses become unsalable after a day or two, Carlina uses _________ transportation for this part of her business?

Air

Which of the following statements about forecasting is true?

All forecasts are guesses

Which of the following statements represents the approach taken to global marketing in this class?

All marketing is global marketing. However there are issues that come into play when you cross a political boundary

Which of the following a selling situation is as described in class?

All of the above are selling situations

Which of the following statements about service marketing is TRUE?

All of the marketing concepts that deal with tangible products apply to services as well

What is the market for a specific product?

All of the potential customers for the product.

Which of the following services is a full-service advertising agency likely to provide?

All of these - that is why they call it a full-service agency

Which of the following is an expected outcome of the consumer buying process?

All of these are expected outcomes of the consumer buying process.

Which of the following is an inside sales job?

All of these are inside sales jobs

Materials handling deals with loading and unloading products and moving them from place to place. The one of the biggest issues in material handling is?

All of these are issues associated with materials handling

Which of the following is NOT an example of a not-for-profit organization?

All of these are non-for-profit organizations

Which of the following groups would normally be considered to be a stakeholder of a company?

All of these are normally considered to be stakeholders

______________ is an example of a product normally considered to be a support good for business customers?

All of these are normally considered to be support goods

Which of the following is NOT part of the price of a credit card for college students?

All of these are part of the price of a credit card for college students

Which of the following is an example of a question that can be answered using breakeven analysis?

All of these are questions that can be answered using break even analysis

Based on what you understand about the consumer buying process, why is it a good idea for Toyota to feature fuel economy in the advertisements for its hybrid Prius automobile.

All of these are reasons why it is a good idea for Toyota to feature fuel economy in advertisements for its hybrid Prius automobile. Because it encourages consumers to use fuel economy as an evaluation criterion. The Prius compares very favorably to other cars on the basis of fuel economy.

According to your instructor, why to telemarketers keep calling you during dinner to sell you things you don't want even though everybody will tell you that they dislike telemarketers.

All of these are reasons why telemarketers continue to call even when people say they dislike telemarketers

What is the NAICS?

All of these are the NAICS.

In class we spoke of a goods-services continuum. The purpose of this concept was to help make the point that...?

All of these are the point we were trying to make

When it comes to managing services, some people find it helpful to think of it as a theatrical production with roles for both the service provider and for the customer. It is the role of the service provider to...?

All of these are the role of the service provider

Which of the following is a trend affecting the composition of the American household?

All of these are trends affecting the composition of households in the United States

Which of the following conditions make it favorable for a retailer to launch a store-brand?

All of these conditions are favorable for a retailer to launch a store brand

Which of the statements about the layers of the product concept are true?

All of these statements are true

When marginal revenue is positive and prices decrease?

All of these things happen when marginal revenue is positive and prices decrease

Which of these statements about the introductory stage of the product life cycle is true?

All products start the introductory stage losing money.

Irene wanted to start a Juice drink business in San Mateo. She felt that in order to build the traffic she needed to make the store successful, she should develop an integrated marketing communications program that included outdoor advertising on billboards near to her store, coupons printed in the local shopper newspaper, radio advertisements during afternoon drive time and on weekends, television ads on the food network using her local cable operator and a couple of giant helium balloons flying over her shop fro the grand opening. Because she didn't have the $175,000 to pay for the entire campaign, she decided to buy a couple of giant helium balloons for $500 and to do the rest of the things after the shop opened and she had some cash flow coming in. This is an example of the ______________ approach to setting the promotion budget?

All you can afford

Which of the following is NOT something you would like an intermediary to provide for your customers?

Alternate products

Which of the following is NOT considered to be a determinant of social class?

Amount of income

Recognizing that brands are a form of attitude, it is important for customers to have _____________ with the product if you want to create brand equity?

An emotional connection

Which of the following is NOT a factor that will affect the price elasticity of demand for a particular product?

An increase in price for the product

An inverse demand curve is usually associated with luxury or prestige goods. With an inverse demand curve, within a certain range of prices...?

An increase in price will lead to an increase in the quantity demanded

According to your instructor, the Internet has had a massive disruptive effect on channels of distribution in this country. What is the secret of success for intermediaries in the internet age?

An intermediary will be successful as long as the channel of distribution is more efficient with them than without them

The supply chain centers on the producer. Upstream activities consist of?

Answer: The flow of raw materials from the supplier to the producer

What would a reader expect to find in the limitations section of a research report?

Any compromises the researchers needed to make in order to complete the study

According to your instructor, many inexperienced sales reps fail to establish rapport with the customer in the __________ stage of the personal selling process, making it difficult to uncover needs during the presentation?

Approach

It is not unusual for experienced salespeople to tell a joke or an interesting anecdote before "getting down to business" with the customer. These people recognize the importance of the ___________ stage of the personal selling process?

Approach

The goal during the ____ of the personal selling process is gain the customer's attention and build the foundation for the sales presentation?

Approach

Zach loves the sport of soccer. He is a huge fan of the Brazilian national team. He collects pictures of the team and wears the Brazilian team colors during world cup soccer matches. He hopes to be good enough to play on the Brazilian soccer team some day. For Zach, the Brazilian soccer team is a(n) ____________?

Aspirational group

Frodo was a massage therapist. He was very good at dealing with lower back pain. In his waiting room, he had a framed photograph of Sylvester Stallone along with a letter from the celebrity saying that Frodo was the best massage therapist in the world. Sylvester Stallone appeared in all of Frodo's print and radio advertisements as well. Frodo was using the ___________ approach to making his service seem "real"?

Association

According to your instructor, when is the best time to establish a metric to measure the performance of a promotion?

At the time the promotion objective is established

Kris decided to go shopping for a pair of tennis shoes. She went to the mall where there were several stores selling shoes. The first store was poorly lit, seemed to be kind of dirty and was very crowded. The second store was brightly lit, sparkning clean and had the shoes attractively displayed on shelves. She walked past the first store and into the second store in order to shop for shoes. Kris was influenced by ___________?

Atmospherics

Many retailers play holiday music in the background and scent the air with cinnamon and peppermint to help shoppers get "in the mood" when they are doing their Winter holiday shopping. This is an example of using __________?

Atmospherics

A(n) _____________ is a learned predisposition to respond to an object or a class of objects in a consistently favorable or unfavorable way?

Attitude

Which of the following statements about attitudes is FALSE?

Attitudes become more favorable over time. Attitudes are permanent

Dmitri owns a company that manufactures office furniture. He had a large customer that went bankrupt and as a result had two hundred office chairs that he has already manufactured and doesn't have a customer for. In order to sell this surplus merchandise quickly yet still get the highest price, Dmitri decided to go online and use a(n) _____________?

Auction

Which of the following products would be the WORST candidate for distribution over the internet?

Autographed baseballs

In order to get an individual to adopt a new product the first thing you need to create is...?

Awareness

One of the issues facing ___, people born between 1946 and 1964 is coming to terms with growing older?

Baby boomers

One way to avoid making embarrassing mistakes communicating in another language is to have a native speaker translate your message back into English. This practice is known as...?

Back translation

Sometimes a producer places an order with a supplier and the supplier does not have enough inventory from which to fill the order. In this case, a __________ is created for the missing items which need to be tracked separately until the order has been completed?

Backorder

The Ford Motor Company broke new ground when it built the Rouge River plant. In addition to an assembly line, the plant included a steel refinery, and a castings plant. This is an early example of _____________?

Backward integration

Karel is the office manager for a medium sized-firm in the city. He just made an arrangement with a coffee service for his company. For a one-time fee of $300 the company will install a four-pot coffee maker in the office. Each week the coffee service will deliver fresh coffee. Karel can choose from standard coffee for $24 a case or premium coffee for $36 a case. Creamer, sugar, stir sticks and cups are provided for a nominal fee. Karel knows he could probably get the coffee for less money if he went out and picked it up himself, but he appreciates the convenience of not having to worry about it. In terms of the goods-services continuum, this is an example of a _______?

Balance offering

Which of the following is NOT a factor that drives competition in an industry?

Bargaining power of government regulators

The Kellogg's company has spent Millions of dollars over the decades advertising its many brands of ready to eat cereal products. In fact, many of the brand characters such as Tony the Tiger; Snap, Crackle and Pop have become well established in the popular culture. Because it would cost a competitor hundreds of millions of dollars to create a brand image comparable to these icons, Kellogg's brand equity is a ____________ in the ready to eat cereal market?

Barrier to entry

When goods and services are exchanged for other goods and services, rather than for money, it is referred to as __________?

Barter

Which of the following statements about Maslow's Hierarchy of Needs is TRUE?

Basic needs such as Physiological and safety have to be satisfied before higher-level needs become motivators.

Your textbook offered several excellent techniques to improve the implementation of marketing plans, which of the following was NOT one of the techniques suggested?

Be sure to assign blame to the person responsible when a program fails to meet its objectives

According to the discussion in class, why is it possible to increase the total amount of utility through exchanges?

Because a person can exchange a product she perceives as low value with another person who places a higher value on the same product

Why did your instructor make the point that there are over 14 million businesses in the United States?

Because each of those businesses will need at least one sales person.

Why is it so important to take complaints about service so seriously?

Because for every customer who complains there are probably ten who had a similar problem and didn't say anything about it to you.

According to you instructor, why are sales teams becoming more popular in personal selling?

Because it increases the number of potential employees for a sales organization

Why does your instructor recommend the chain ratio method of sales forecasting?

Because it integrates sales forecasting into the strategic management process.

Which of the following is NOT one of the reasons your instructor introduced the Myers-Briggs personality inventory in class?

Because it is the only personality typology currently being used

According to your instructor, why is it that many businesses may be unaware of how they are actually perceived in the market place.

Because much of the information executives get is from people who are paid by the company

Why is it important to develop contingency plans when you adopt a sales forecast?

Because once a plan is underway, there is a tendency to explain away unexpected results rather than try to adapt the plan to the new circumstances.

According to your instructor, why is a good environmental scan so important for a marketing manager?

Because the better the environmental scan, the better the strategic and tactical decisions that will be made based on the environmental scan

Why is demand inelastic for many industrial goods?

Because the component cost is so small relative to the cost of the end product that large changes in the price for the component will have little impact on demand for the end product.

Why is it important to keep a sense of perspective when developing internet-based marketing strategies?

Because the internet is very good for some activities but not very good for other activities

In class, we discussed a number of characteristics of the internet. Which of the following is a consequence of the 24/7 availability characteristic?

Because the internet never closes, customers have more opportunities to consider other options

Why is it important for a marketer to know the ownership structure of a retail store?

Because the ownership structure determines who you need to approach in order to sell to the store

Why did your instructor make such a big deal about the opportunity that the internet represents?

Because the practice of marketing is driven by technological change and the internet is always changing

According to your instructor, which of the following is a reason why environmental scans are so important to you as a marketing manager?

Because the quality of the environmental scan affects the quality of the marketing strategies you develop

According to Michael Porter, there are two fundamental marketing strategies: being the low cost producer or to differentiate your product form the competition. Why is this important to understand in a discussion of market segmentation?

Because there is only room for one low-cost producer in an industry, everybody else will need to use a differentiation strategy. Market segmentation is a tool you can use to help differentiate your product.

According to your instructor, what is one of the reasons that the size of the business market is larger than the size of the consumer market in this country?

Because there may be several purchases of "intermediary goods" such as parts or services needed to create a single product for sale to the end user.

Why are the innovators and early adopters so important to marketers trying to introduce new products to the marketplace?

Because these people actively seek out new products and serve as opinion leaders to others

The last group in the diffusion process, non-adopters, represent people who will never buy the new product. Why is it important to remember this group when dealing with new product introductions?

Because you need to take these people into account in order to understand the true market potential for your new product

Why is it important for a marketing manager to be aware of macro-economic indicators such as leading economic indicators and the business cycle?

Because you use different strategies in an "up" market than you do in a "down" market

BruceCo was opposed to proposition 92.3 in California general election. This proposition would impose a 50 cent/cup tax on coffee in order to pay for education. The most recent polls showed 57% of likely voters supported the proposition. BruceCo then paid for an advertisement which explained that if the proposition passed, the cost of a cup of coffee would increase by 50 cents. Following the advertisement, the polls showed only 32% of likely voters were in favor of the proposition. This is an example of a(n) ___________ test of advertising effectiveness?

Behavioral measures

When developing contingency plans, the ______ scenario assumes that everything that could go either right or wrong goes right

Best case

Which of the following statements comparing the consumer buying process to the business buying process is TRUE?

Both businesses and consumers solve problems using a five-step process.

The best understanding of market dynamics comes when market size is expressed in...?

Both dollars and units

Which of the following statements best describes the approach to the Internet presented in class?

Both online and offline activities are usually needed to achieve an organizations goals

Which of the following assumptions about using ethnicity as a segmentation variable is correct?

Both race and cultures play a role in consumption patterns.

When I go to the grocery store, I see several different types of Cola products. In addition to Coke and Pepsi in various shapes and sizes, there is RC cola and a store brand of Cola as well. This is an example of ___________ competition?

Brand

Many companies engage in relationship marketing to nurture and grow the _____________ developed while creating brand equity.

Brand Loyalty

The first stage in developing brand equity is to create _____________ with your potential market. This is frequently accomplished with advertising?

Brand awareness

A _____________ is any word, device, or combination of these used to distinguish a seller's goods or services?

Brand name

_____________ refers to the number of product lines in a company's product mix.

Breadth

The retail positioning matrix described in the textbook classifies retailers in terms of ________________ and _____________?

Breadth of product line, value added

Kendra runs a wholesale distribution center for candy. Each week she receives a truckload of candy from her supplier and unpacks it so that her customers only have to buy a case at a time. Kendra is adding value by ___________?

Breaking bulk

In class we talked about how merchandise assortments can be described in terms of breadth and depth. How would you classify Borders bookstore - a large retailer that carries hundreds of books in several different categories as well as videos, CDs and games?

Broad and deep

Bruce was planning to open a coffee shop to compete with the national chains. For a small fee, customers could create their own private blend of coffee. Customers were thrilled with this service. Not only did they pay to create their private blends, but they delighted in bringing their friends in to taste these private brews. The friends would frequently purchase private blends of their own. How would you rate Bruce's level of competency with this business model?

Bruce has developed a distinctive competency that will give him a competitive advantage

Bruce was planning to open a coffee shop to compete with the national chains. He wanted to be more personal than the national chains so he asked his employees to greet regular customers by name and ask them if they would like their usual drink. He felt the national chains were focused on running the assembly line rather than on welcoming customers. How would you rate Bruce's level of competency in this business model?

Bruce has established a point of difference that he might be able to exploit in the future

Bruce was planning to open a coffee shop to compete with the national chains. He planned to serve freshly brewed premium coffee in a pleasant environment along with an assortment of snacks and coffee-related merchandise. How would you rate Bruce's level of competency in this business model?

Bruce is only doing what is expected. He has failed to differentiate himself

Which promotional role might be most appropriate for a product in the post-purchase behavior stage of the consumer buying process?

Build relationships

The SWOT analysis can be used to develop marketing strategies by ____________?

Building on a strength/minimizing a weakness or a threat

Which level of the organization is typically responsible for setting the direction of products and markets in order to exploit value-creating opportunities?

Business Unit level

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company define the marketing strategy for and determine the projected income from a new product?

Business analysis

Demand for a ______________ is derived

Business good

______________________ is the marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services they can produce and market to others?

Business marketing

A ____________ consists of a set of related products and markets?

Business unit

A ____________ franchise provides step by step procedures for most decisions a franchisee will face?

Business-format

Of the three ways to satisfy a need discussed in class, which one is used to create exchanges?

Buy it

Bruce just purchased a new dishwasher for his home. It was a pretty expensive purchase for him and he had spent several days researching alternatives. After the dishwasher had been installed and was working properly, Bruce found that he couldn't sleep that night because he was worrying whether he had spent too much money on the dishwasher. This is a classic case of?

Buyer's remorse

The group of people in an organization who participate in the buying process and share common goals, risks, and knowledge important to a business decision is a _________?

Buying Center

Baking soda is an ingredient in cooking. It also has the property of absorbing odors. The Arm and hammer company found that many people were leaving an open box of baking soda in their refrigerator to absorb food odors. In order to take advantage of this opportunity, they developed a special package with many air vents specifically for use as a refrigerator deodorant. Arm and hammer used ______________ segmentation to develop this product?

Buying situation

The most attractive market segment for fast food restaurants is heavy users (no pun intended). These customers visit fast food restaurants 14 or more times per month on average. This is an example of _______________ segmentation in the fast food industry?

Buying situations

According to your book, which of the following is NOT a question suggested by ethical legal framework for evaluating marketing decisions?

Can I make money doing it?

______________ is the loss of sales from an existing product when a new product is introduced.

Cannibalization

Hewlett Packard makes a variety of inkjet printers for personal computers. You can buy a basic "all in one" printer that scans, copies and prints for less than $99. Replacement ink cartridges from Hewlett Packard cost between $30 and $60 depending on whether it is black and white or color ink. This is an example of _____________?

Captive pricing

When it comes to carrying inventory in the fashion industry, which approach tends to be the most profitable.

Carry just enough inventory to meet anticipated demand. This will allow you to capitalize on the demand that has been created for the product without the expense of getting rid of excess inventory at a discount. That may hurt the brand's image.

Jiwon has successfully introduced a new kind of candy for college students at the college bookstore. Her candy is selling very well and she is thinking of marketing it nationally. She is not sure if college students are buying it because of the colorful packaging or because it has lots of caffeine. She will have to conduct ___________ research to determine which factor is responsible for college students buying so much of her candy?

Casual

A ______________ is the person responsible for managing the selection, purchasing, display and pricing of related products in a retail operation?

Category manager

_____________ is a strategy that involves tying the charitable contributions of a company to customer revenues produced through a promotion of its product?

Cause marketing

A ___________ is a strategic partnership where one company agrees to sell its products through another company's distribution network.

Channel alliance

In channels of distribution where there are both large players and small players, a(n) ___________, usually the largest member of the channel will assume responsibility for coordinating activities in the channel?

Channel captain

_____________ occurs when one member of a channel of distribution perceives another member of the channel keeping it from achieving its goals.

Channel conflict

A ________________ is the individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users

Channel of distribution

A disruptive innovation is a technological development that radically changes the competitive landscape. For example, who could have imagined in the 1950's that innovations in the ___________ industry would almost destroy the dry cleaning industry?

Chemical

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company introduce the new product into the company's overall product mix?

Commercialization

An organizational chart is a useful tool for understanding the structure of an organization. Specifically, the connections between the "boxes" in an organizational chart show patterns of _____ and _____within the organization.

Communication, accountability

What were the three paradigms for internet marketing we discussed in class?

Communications medium, channel of distribution, e-commerce

China is one of the most competitive marketplaces in the world. To succeed as a manufacturing company in China, you must be ruthlessly efficient and productive in eliminating excess cost from the products you make. Because of this, products manufactured in China are exported all over the world. This is an example of _____________ that may lead to a global competitive advantage?

Company strategy, structure and rivalry

In dealing with the ____________ issue in sales management, there is a tradeoff between salary and commission?

Compensation

The ____________ component of the external macro-environment deals with alternate firms that could satisfy a specific market's need?

Competitive

According to the instructor, which of the following sources of information is frequently ignored when determining a company's actual market position?

Complaints from dissatisfied customers

The LOWER the ___________ the more likely people will be to adopt your new product?

Complexity

_____________ is an example of a product normally considered to be a production good in business?

Component parts

BruceCo's marketing information system is powered by a Cray XMT supercomputer and features a wireless intranet that is available 24/7 for any manager equipped with a company-issued laptop computer. This is an example of the ___________ component of a marketing information system?

Computer hardware and software

Nick is thinking of conducting some market research to help him determine the best colors to use for his new hip-hop CD to be released in February. He knows that he can't just ask people what colors they like. Instead he should develop three or four different examples of what the CD cover might look like. Participants could respond to these ___________ in order to signal their color preferences.

Concepts

When using the _____________ approach to selling, the salesperson will ask questions in order to better understand what problem the customer is trying to solve with the purchase?

Consultative selling

Which of the following is NOT an example of an intermediary?

Consumer

Demand factors are factors that affect consumers' willingness and ability to purchase products. Demand factors such as __________ affect what consumers ARE ABLE to buy?

Consumer income

Which of the following is NOT something that could be found to be illegal under United States Law?

Consumer rebates

Demand factors are factors that affect consumers' willingness and ability to purchase products. Demand factors such as __________ affect what consumers WANT to buy?

Consumer tastes

According to your instructor the balance of power in channels of distribution has shifted and continues to shift. In the past, manufacturers had the most power in a channel of distribution. In the future it is likely that the balance of power will continue to shift toward _________?

Consumers

What do we mean when we say demand for industrial goods is derived?

Consumers buy industrial goods indirectly when they purchase consumer goods that use industrial goods as components

What do we mean when we speak of negative brand equity?

Consumers have unfavorable associations with the brand name

Developing a ______________ involves identifying critical points in the plan, anticipating what could go right or what could go wrong and determining in advance what course of action you will take?

Contingency Plan

A ____________ is a retail concept where two or independently owned stores band together to act as a chain?

Contractual system

Which of the following research techniques is most likely to be used in Causal research?

Controlled Experiment

When using cultural values to determine right from wrong, _________ represent rules for getting along in everyday life situations?

Conventions

In a multi-market, multi-product firm such as the Nestle Corporation, what is the highest level at which strategic planning might take place?

Corporate level

Which level of the organization is typically responsible for determining the makeup of the organization's portfolio of businesses?

Corporate level

Which level of the organization is typically responsible for determining the organization's mission and or vision?

Corporate level

_______________ is used in situations where the final cost of a good or service may not be available at the time the agreement is reached?

Cost plus pricing

The disadvantage to the __________ to setting prices is that it doesn't take into account whether customers are willing to pay the price your need to charge?

Cost-based approach

BruceCo introduced a new blend of coffee for amateur athletes. To encourage people to try the new product, the company ran advertisements in the local newspaper. People could cut out the advertisement and bring it in to the store for a free cup of the new coffee blend. This is an example of a ___________ sales promotion?

Coupon

Roxanne has completed her positioning analysis and has decided that there is an opportunity to create an adult milk beverage that is enhanced with vitamins. Currently, her company does not make such a product, nor for that matter do any of her competitors. Roxanne has the opportunity to...?

Create a new category by introducing a product that is different from anything else on the market.

Binge drinking is a problem for many students at American colleges. Students come from an environment where they were living at home under close parental supervision to college where they are living on campus and have little if any adult supervision. Students may not realize that binge drinking is an issue. Because of this, many schools include a segment on drinking in their orientation packages. The basic strategy for marketing this idea is to___________ ?

Create awareness

OK, so you have successfully divided the potential market into three distinct market segments. What do you do next?

Create specific product/market offerings to satisfy unmet needs in each segment

The goal of a channel of distribution is to...?

Create the most efficient way to move products from producer to consumer

Which if the following statement about creating a brand is true?

Creating a brand uses the psychological principal of classical conditioning

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. The social responsibility was a high priority for the company so she knew that whatever coffee company she used, it had to be socially responsible. She went online and found three coffee companies that provided equipment and made regular deliveries. The company she chose claimed to be socially responsible. All of the coffee was certified to be fair trade coffee by the Fair Trade Coffee association. Hermione was familiar with the Fair Trade Association and knew that fair trade certification meant the coffee was purchased from small farmers who were paid a fair price for their coffee. Hermione used ____________ to evaluate the quality of the service?

Credence Qualities

A _______ is a set of values, ideas and attitudes that are learned and shared among members of a group?

Culture

A person's food preferences, rituals, and even a sense of what is right and what is wrong can be strongly influenced by his/her ___________?

Culture

According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies develop a performance oriented ____________?

Culture

____________ is a socializing force that determines what is right and what is wrong for most people?

Culture

In class, we discussed a number of characteristics of the internet. Which of the following is a consequence of the internet culture characteristic?

Customers are reluctant to pay for content available on the web

In class, we discussed a number of characteristics of the internet. Which of the following is an issue related to the Graphic interface characteristic?

Customers use a combination of verbal and non-verbal cues to navigate through your site

Which of the following statements about value is FALSE?

Customers who fail to perceive the true benefit of a product may have an incorrect perception of its value to them.

If the demand curve for a product shifts outward then...?

Customers will buy more at every price point

When using cultural values to determine right from wrong, _________ represent basic behaviors that are usually based on tradition?

Customs

One of the problems in acting ethically in international business is that __________ and _________, the basis of what is right and wrong, can vary from country to country?

Customs, religion

Lands End is a successful mail order catalog company. In order to expand their business, they decided to open retail outlets where customers could visit and actually see the merchandise. By analyzing the zip codes from past mail order shipments, they were able to locate the new stores in areas where many of their customers already lived. This is an example of?

Data Mining

____________ attempts to identify new business opportunities by analyzing data from past transactions?

Data mining

A(n) ___________ is a conscious choice from among two or more alternatives?

Decision

Sandra is running an online bookstore. Her market research shows her that many people visit the site, look at several books, add one or more books to the shopping cart but never actually purchase anything. Based on what she learned about the consumer buying process, Sandra decided to offer free delivery. She felt that this would make it easier for the customer in the ___________ stage of the consumer buying process.

Decision stage

The goal at the __________ stage of the product life cycle is to maximize profit without investing a lot of resources in the product?

Decline

According to your instructor, what is the most important stage of the market research process?

Define the problem

Japan has some of the most discriminating consumers in the world. Especially when it comes to consumer electronics. Japanese consumers expect the latest technology, the highest quality, and the lowest prices. This is an example of ___________ that may give Japanese companies a competitive advantage in the global marketplace?

Demand conditions

According to your instructor, which of the bases for segmentation is most frequently used by marketers?

Demographic

Bruce recently went to the eye doctor because he couldn't see clearly enough to do the crossword puzzle in the newspaper. He could see well enough to drive, just not well enough to do the puzzle. His eye doctor said he had presbyopia, a condition that is common in people who are middle aged. The doctor said that Bruce could continue to do the crossword puzzle, but he would need to wear reading glasses. Clearly, a manufacturer of reading glasses would benefit from using a ______________ segmentation approach.

Demographic

Have you ever noticed that when you fill out a warranty card after making a purchase, the manufacturer frequently asks questions such as how old you are, what your ethnicity is and how much money you earn. These questions suggest that the manufacturer is using __________ to segment the market.

Demographics

Jiwon is thinking of developing a candy specifically for college students. She thinks that college students would buy candy if it had caffeine in it. Before she invests a lot of money in candy making equipment, she conducts ___________ research to find out if there is a relationship between caffeine and candy sales for college students?

Descriptive

The first step in using the layers of the product concept is to:

Determine what is the core benefit the consumer will receive from the product

Which of the following is not a way perceptual maps can help you with your positioning strategy?

Determine which of two alternative products your customers will prefer.

According to your instructor, what is the easiest way to become the category leader for a product category?

Develop a brand new product that is different from anything else in the market

Understanding a country's level of economic development can help marketers better understand the needs of the people who live there. Economists describe three levels of economic development. People living in ___________ have high standards of living and tend to be sophisticated consumers?

Developed countries

Understanding a country's level of economic development can help marketers better understand the needs of the people who live there. Economists describe three levels of economic development. 77% of the world's population lives in _____________ which tend to emphasize creating economic infrastructure?

Developing countries

The three phases of marketing management include...?

Developing the marketing plan, implementing the marketing plan, evaluating the results of the marketing plan

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company typically first create a physical prototype of a new product?

Development

In class, we discussed several trends in organizational structure. One of them, the _____________ is the reason business schools incorporate so many group projects in their classes?

Development of cross-functional teams

Which of the following is one of the two questions that should be answered when evaluating a marketing plan according to the material presented in class?

Did we achieve our goals? / Are there things we could have done better?

In class, we discussed a number of characteristics of the internet. Which of the following is an issue related to the computer-mediated characteristic?

Different customers will perceive your website differently

Which of the following statements about the consumer buying process is FALSE?

Different people will go through the stages of the consumer buying process in a different order. Human beings are rational in the economic sense of word and carefully evaluate the available information in order to make the best decision.

According to Michael Porter's theory discussed in class, which is best strategy to use when you are not the low cost producer in an industry?

Differentiate your product

Bruce wanted to open a coffee shop. He knew his coffee was way better than anything Starbucks could do because he ran taste tests with people in the neighborhood. He found that people in his area preferred their coffee with just a hint of cinnamon in it. When he opened his first store across the street from a Starbucks store, he ran advertisements in the local paper claiming "Bruce's Brew is the spice of life" and offered a coupon good for a free cinnamon grinder with purchase of Bruce's Best. Bruce is using a _______________ positioning strategy.

Differentiation

The product market growth matrix suggests four strategies based on customers and products. Which of the following is NOT one of the basic strategies suggested by this approach?

Differentiation

_____________ looks at how new products are adopted by entire populations.

Diffusion theory

Your textbook describes three alternative outcomes or responses for direct marketing. When the direct offer includes all of the information necessary for a customer to purchase the product, the desired response is probably?

Direct orders

A marketer interested in selling luxury goods would naturally pay close attention to changes in the amount of?

Discretionary income

When I go to the grocery store, I see several types of cola products. Sometimes, even though I am in the mood for a cool, refreshing Cola, I keep my money in my pocket because I am saving up for a new high definition television set. For the Coca Cola Company, this is an example of ___________ competition?

Discretionary income

_____________, is the amount of money a consumer has left after paying for necessities such as food and housing?

Discretionary income

Arwen wanted to open a donut shop where customers could design their own donuts and have them made to order at the time. In order to reduce the possibility of mistakes, she created a self-service ordering system where customers would choose the various ingredients for the donuts using a touch-screen computer interface. Then they would follow along the glass-enclosed production line and watch while her highly skilled workers cooked the donuts from scratch. By using a computer rather than a person to initiate the process, Arwen was using _____________ to make the best use of her highly trained donut makers?

Disintermediation

____________, is the amount of money a consumer has after paying taxes?

Disposable income

Zach hates the sport of soccer. He especially dislikes the Brazilian national team. He makes it a point never to wear anything that looks like soccer clothing, especially if it is in the colors of the Brazilian team. For Zach, the Brazilian soccer team is a(n) ____________?

Dissociative group

BruceCo was thinking of opening a coffee blending factory in a developing country. They decided not to build the factory because there were not enough warehouse companies in the country to properly store the raw materials and finished goods. This country was not attractive to BruceCo because it lacked __________ infrastructure?

Distribution

BruceCo is a coffee shop selling custom-brewed coffee to walk-in customers. In order to boost sales, Bruce started a business selling music CD's on the internet. This is an example of the ____________ growth strategy?

Diversification

The product market growth matrix suggests four strategies based on customers and products. Which of the following is the riskiest of the basic strategies suggested by this approach?

Diversification

Frodo was a massage therapist. He was very good at dealing with lower back pain. The walls of his waiting room were covered with framed documents. Some of them were diplomas from the massage schools ha had attended. Others were copies of testimonial letters from well known people. Still others were reprints of favorable news articles that had been published in newspapers and magazines. Frodo was using the ______ approach to making his service seem "real"?

Documentation

____________ occurs when companies sell products in a foreign market for a lower price than they sell it in their domestic market?

Dumping

According to your instructor, the value of having a lot of offerings within a product line is...?

Each product offers slightly different needs which allows you to target different market segments within the product category.

One of the major transitions in new product development is going from a cutting edge product to a mass market product. In order to do this, the marketing for the product has to be strong enough to convince customers who aren't actively seeking your product to try it. This "market development gap" probably occurs somewhere between the _________ and the _________ stage of the diffusion process.

Early adopter, early majority

The ____ component of the external macro-environment deals with income, expenditures and resources that affect the cost of running a business?

Economic

One of the difficulties in determining ethical behavior in marketing is that ______; the clandestine collection of trade secrets or proprietary information is both illegal and unethical; while collecting marketing intelligence about your competition is necessary?

Economic espionage

One approach to minimizing inventory balances the cost of ordering a product, the cost of holding inventory, the cost of being out of inventory, and the amount of it takes to receive the raw materials after the order has been placed. This mathematical approach is called?

Economic order quantity

BruceCo was thinking of relocating its order processing and customer service unit to a developing country. They decided to locate in a specific country because literacy rates were very high many people had learned to speak English either at home or in school. This country was attractive to BruceCo because it had a good__________ infrastructure?

Education

Wal-Mart's basic strategy is to provide products to customers at rock bottom prices. Thus their slogan, "Always Low Prices." In order to achieve this strategy, Wal-Mart's Supply chain is designed to maximize ___________?

Efficiency

The two major issues in supply chain management are:

Efficiency and responsiveness

The basic communication model describes how a message is transmitted from a sender to a receiver. In order for this to happen, the message has to be _________ by the sender and ________ by the receiver?

Encoded, decoded

_____________ is a systematic approach to gathering information about the environment, analyzing it, and predicting its impact on your business?

Environmental scanning

Which of the following is NOT a requirement of a market segment?

Environmentally responsible

Seishiro had a pain in his lower back - probably from studying too hard for marketing 431. So he decided to visit a massage therapist in order to get a massage. He had heard of a massage company that was very good at relaxing sore lower backs. They had a state of the art computerized back rubber, one of only three in the state of California. He made an appointment with this therapist even though the office was 40 miles away and he would have to miss one of his other classes (Seishiro would never miss Marketing 431!) to keep the appointment. If we were to classify this service, we would probably call it a ______________ service?

Equipment-based

When faced with a decision, ___________ are the moral and legal principles that serve as guidelines on how to behave?

Ethics

_____________ are moral and legal principles that govern the actions of an individual or a group?

Ethics

Which of the following is NOT a pricing practice that may be considered to be illegal?

Every day low pricing

According to the discussion in class, which of these is a reason consumers frequently give to justify unethical consumption?

Everybody does it

What is ISO 9000 certification?

Evidence that a company's quality management and assurance meets international standards.

When it comes to services, quality is measured in terms of...?

Exceeding the customer's expectations

Caterpillar makes heavy equipment for the construction industry. These machines are used hard and need fast reliable service to keep them running once a customer has purchased one. Because of this, there is only one Caterpillar dealer in any market. This is an example of __________ distribution?

Exclusive

According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies maintain flawless operational ____________?

Execution

One of the strategies during the decline stage of the product life cycle is to sell the product to another company or simply to stop producing the product. This strategy is called...?

Exiting the market

Even if you have never seen a product before, you may have a sense of what it should sell for based on similar products that you have experienced in the past. Marketers need to be aware of this ___________ when they set prices for new products?

Expected Price

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. Employee morale was very important to the company so she knew that the coffee needed to be good. She went online and searched for several coffee services. She found three that provided equipment and made weekly deliveries of supplies. She called all three and asked them to come in and put on a demonstration so that the employees could decide which coffee they liked best. The winner of the taste test would get the contract Hermione used ________ to evaluate the quality of the service?

Experience Qualities

The __________ environment deals with issues that are beyond your company's ability to control directly?

External

Although you have the ability to decide whether or not to do business with a particular supplier, you can't tell the supplier how to run his or her business. This is why suppliers are part of the...?

External microenvironment

The _____ deals with factors that affect your company, but are beyond your ability to control directly?

External microenvironment

Bruce ordered a test bank from teachersupplies.com. The cost of the package was $39.95 plus sales tax (you are responsible for California sales tax, even if you order online). He chose to have the product shipped via UPS ground because it was the least expensive shipping option. Teachersupplies.com is using a ___________ approach to geographic pricing?

FOB factory

According to the instructor, which of the following media is the richest information channel?

Face to face conversations

Recently, the state of California passed Proposition 71, the stem cell initiative. The purpose of this measure was to generate $3 billion to help focus the efforts of California's high-tech infrastructure on stem cell research in order to create a long-term sustainable competitive advantage in the stem cell industry. This is an example of ___________ that may lead to a global competitive advantage?

Factor conditions

An advertisement for a medical alert device shows a senior citizen who has fallen and is unable to reach the telephone to call for help calling "Help! I've fallen and I can't get up." This situation would not have happened if the senior citizen had the medical alert device attached to her person. This is an example of a(n) _________ appeal in advertising?

Fear

The basic communication model describes how a message is transmitted from a sender to a receiver. The only way a sender can know whether the message has been received is through?

Feedback

The three steps for developing a market position (or for developing any strategy, really) are...?

Figure out where you are now, figure out where you want to end up, develop a plan to get you from where you are to where you want to be.

In its most basic form, any form of strategic planning is simply a matter of...

Figuring out where you are currently, figuring out where you want to be in the future, and then developing a plan to get you to where you want to be

Bruce went shopping at the Hermes store in New York City. This is a very high end fashion store. When he entered the store, an associate asked him what he was looking for. She then escorted Bruce to the neckwear department and had him sit (with a cup of coffee) while she brought out a selection of neckties she thought he might like. After Bruce paid for the neckties, the store had the packages shipped to Bruce's hotel. This is an example of _____________ retailing?

Fill service

____________ are the costs of production that do not change with the number of units produced?

Fixed Costs

My friend who works at a major airline told me that they change their fares once every 3 minutes, on average. They are always monitoring how many seats are sold and how many are available (lead factor) and how many days until the flight is scheduled. Customers sometimes feel that they are being treated unfairly because no two people on the same flight have paid the same price for their tickets. The airline does this because ____________ are so high that they need to maximize the amount of revenue thy can get from every seat.

Fixed costs

Anheuser Busch uses a good, better, best strategy for its line of beer products. Budweiser is the flagship brand and Busch and Michelob are _________ brands?

Flanker

Which of the following is NOT a requirement for causal research?

Focus Group

Which of the following research techniques is most likely to be used in exploratory research?

Focus Groups Ethnography

The PULL approach to promotion...

Focuses on creating consumer demand for the product

The PUSH approach to promotion

Focuses on getting members of the distribution channel to support the product

Which of the following statements about fashion is FALSE?

Forecasting is less important for fashion than it is for other products.

Which of the following is NOT an internal communication method commonly used in business as discussed in class?

Formal reports, double spaced with fancy covers

The ___________ sales presentation format, frequently used with inexperienced sales representatives involves memorizing a standardized sales presentation?

Formula selling

In order to make sure that potential customers had an opportunity to try their new products under the most favorable conditions, the Apple Computer company began opening a number of retail stores that carry the full line of Apple products and accessories. This is an example of __________?

Forward Integration

The most common form of contractual vertical marketing system is?

Franchising

Bruce ordered a test bank from teachersupplies.com. The cost of the package was $39.95 plus sales tax (you are responsible for California sales tax, even if you order online). He chose teachersupplies.com because they offered free shipping on orders of $25 or more. Teachersupplies.com is using a ___________ approach to geographic pricing?

Freight absorption

A _____________ is one of a set of specialized interdependent activities performed within an organization?

Functional area

Which level of the organization is typically responsible for actually creating value for the organization?

Functional area level

Retail positioning strategies recognize that a store has both a _____ and a ______ definition in the mind of a customer?

Functional, Psychological

When conducting a global environmental scan, demographic indicators such as ______ are used to assess the relative wealth of nations?

GDP

Bruce is trying to contact the purchasing agent for Starbucks Coffee in order to sell them his new "Bruce's Blend" of coffee. However, each time he calls the buyer, he gets a receptionist who asks him his name and then forwards his call to the buyer's voice mail. This has happened several times now and Bruce is beginning to think that the buyer will never call back. The buyer's receptionist performing the role of _________?

Gatekeeper

One of the reasons the examples in class may seem obscure to you is that your instructor was born between 1946 and 1964 and most of the students in marketing 431 are members of ______________, born between 1977 and 1994?

Generation Y

The idea behind ______ is that people who are born at the same time share similar experiences growing up and, therefore are similar in some of their attitudes and behaviors?

Generational marketing

A ______________ or _______________ tries to create the perception of value by eliminating the advertising expense associated with many consumer products?

Generic brand, no-name brand

Many national magazines such as Time or Business Week contain have advertising that is different depending on where in the country the magazine is purchased. These regional editions are useful for marketers trying to communicate with customers who have been segmented according to ____________?

Geography

Shamiya is the marketing manager for a leading mattress manufacturer. She is in the process of developing a market segmentation scheme for her company. Because delivery costs are very high for mattresses, she is likely to consider ______________ along with other variables as she develops her plan?

Geography

The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The FIRST thing you have to do is?

Get the person's attention

Which of the following explains the law of large numbers as discussed in class?

Given a large enough group of people, we can predict what a subset will do with respect to your product.

The way to find out what the deadlines are for the mini tests is to?

Go to the class website and look for the deadline information posted in the test description.

Jacky just bought a brand new Lexus automobile. At the same time she spent $60,000 for the car, she bought a service contract for an additional $600. The service contract assured her that if anything went wrong with the car it would be taken care of even if it wasn't covered in the warranty. In terms of the goods-services continuum, this is an example of a _________?

Good dominated offering

Which of the following statements about publicity is false?

Good publicity doesn't cost the marketer any money

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers. She stamps a date sticker on each package so the retailers will know how fresh the candy is. She also provides information on how much cocoa is in the chocolate from the various manufacturers. Kendra is adding value by ___________?

Grading

___________ occurs when a business sells a product outside of its agreed upon marketing area in order to take advantage of price differentials between the two marketing areas?

Gray marketing

_____________ is a strategy that involves a company's efforts to provide, promote and reclaim environmentally sensitive products?

Green marketing

_____________ the total amount of money made in one year by a person, household, or family unit, averaged $43,318 in the U.S. in 2003?

Gross income

____________ is commonly used reference number the balance reach and frequency in reaching the determining the appropriate selection to reach the desired audience.

Gross rating points

Ideally, analysis of the social trends will allow you to identify a target market is...?

Growing

The goal at the ______________ stage of the product life cycle is to build market share and differentiate the product.

Growth

___________ is defined as achieving conventional goals with unconventional methods, such as investing energy instead of money?

Guerilla marketing

Bruce wanted to open a coffee shop. He knew his coffee was way better than anything Starbucks could do so he opened his first store across the street from a Starbucks Store. He ran advertisements in the local paper claiming "Bruce's Brew is better than Starbucks Stuff" and offered a money back guarantee to any Starbucks customer who was willing to try a cup of Bruce's Coffee. Bruce is using a _______________ positioning strategy.

Head to head

When using the ______________ approach to selling, the salesperson will encourage the customer to make a decision quickly, so that the customer doesn't have a lot of time to think things over or to change his or her mind?

High Pressure

The ______________ is still used successfully today, especially when dealing with expensive, one-time purchases; even though most marketers consider it incompatible with relationship building?

High pressure sales

Which of the market structures best describes the current state of retailing in the United States?

Highly concentrated

BruceCo sells medical devices used in surgical operations. It requires a great deal of training t be able to use these medical devices properly and there is a potential liability to BruceCo if they are used improperly. Because each product has to be numbered and monitored for quality and sanitation, the products must be handled carefully and are expensive. Which of these channels would be best for BruceCo?

Hire a skilled sales force to call on surgeons and educate them about the risks and benefits of your devices

A storage warehouse creates value by?

Holding inventory closer to where customers are likely to use it.

American television, Hollywood movies and widespread availability of the internet have created a trend toward Cultural __________, where differences between cultures are becoming less apparent.

Homogenization

Tami owned the Subway franchise in Centennial Village at San Francisco state University. She heard that another franchisee had been granted permission to open a Subway in the student union. She immediately complained to whoever would listen to her that the new store would take away most of her business. This is an example of?

Horizontal conflict

Coors light ran a series of beer advertisements where footage of Bill Walsh, the former head coach of the San Francisco 49ers, taken from press conferences was edited to make it appear that he was answering questions about beer asked by intoxicated fans. This is an example of a(n) ___________ appeal in advertising?

Humor

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company be seeking input from customers, following up on complaints, listening to employees, analyzing market research and monitoring competitors?

Idea generation

Desiree knows that she does not have very much money. Yet she dreams of being rich and famous like one of those Hollywood stars you see on television all the time. Her one luxury is to buy fashionable designer dresses just like those worn on her favorite television shows. Desiree's desire to be seen as a high-fashion person is motivated by her ____________?

Ideal self-concept

Grocery stores frequently put new products in high visibility locations such as the end of an aisle or near the checkout lanes. This makes consumers who might be thinking about buying a similar product aware of the new product. This tactic affects consumers who are in the _________ stage of the consumer buying process?

Identification of alternatives

The second stage of the consumer buying process is?

Identification of alternatives. All of these are part of the second stage of the consumer buying process

The first step in developing an advertising program is...?

Identify the target market

Which of the following is NOT a concern during the decision stage of the consumer buying process?

Identifying all of the alternative products available.

What was your instructor talking about when he suggested using the "newspaper" standard to determine whether or not a decision you made is ethical?

If everybody you know, including your mother is going to know what you did; what choice would you make?

The law of demand (which is the basis of the demand curve) says...?

If prices increase, customers will buy less

Which of these statements best describes the basic norm of business ethics as discussed in class?

In general, people are honest

Which of the following is NOT a reason a company might want to have more than one channel of distribution?

In order to earn back money that otherwise would have been earned by your retail network

What is the relationship between the richness of an information channel and the ability to stimulate emotions?

In order to stimulate emotions with advertising, you need an information rich medium such as television

What was the point your instructor was trying to make with all that talk about opportunity and rapid change in the technological environment?

In order to succeed in business today, you need to understand the role of the internet in business

What is a major disadvantage of the market factor analysis method of forecasting?

In order to use it, there has to be a known market factor that correlates with your product's sales

Which of the statements about costs is true?

In the long run, your revenue has to exceed your marginal costs.

In general, the intent of government regulation of business in the United States is to...?

Increase competition

Which of the following statements about the growth stage of the product life cycle is FALSE?

Increasing demand and decreasing competition lead to higher profits

A ____________ is a retail concept where, typically a smaller retailer provides highly personalized service through a single retail outlet?

Independent store

A major disadvantage of _________________ is that it can be very expensive to create a brand identity for each product.

Individual product branding

Proctor & Gamble creates a separate brand identity for each product they bring to market. This strategy is called _______________.

Individual product branding

________________ is when a company creates a unique brand identity for each product?

Individual product branding

United States businesses value independent, decisive action while Japanese businesses value cooperative, consensus-driven action. This is an example of the ____________ dimension of cultural values discussed in class?

Individual/collective

When conducting a global environmental scan, demographic indicators such as ______ are used to assess public health conditions within a country?

Infant mortality

Bruce is trying to sell his new "Bruce's Blend" of coffee to Starbucks. He met with the buyer and the buyer arranged for Bruce to serve a sample of his new blend to a group of "tasters" who will taste the coffee and tell the buyer whether or not they think it is any good. These tasters are performing the role of _______?

Influencer

When I order a book from Amazon.com, an online bookseller, I receive an order confirmation that tells me when my package will leave the Amazon warehouse, the name of the shipper, and a link to the shipper's website that allows me to track the progress of my package from the warehouse to my home. This way I know exactly when to expect my package. This is an example of the use of ____________ to smooth the flow of goods and services through the channel of distribution?

Information

An advertisement for Wishbone Salad Spritzers demonstrates that you can spray salad dressing on your salad and tells you there is only one calorie per squirt. The objective of this product ad is probably__________?

Informing

The objective of an advertisement for a product in the introductory stage of the product life cycle is probably ___________?

Informing

________________ is(are) the basic physical systems of a country including roads, utilities, water, sewage, etc

Infrastructure

In order to maintain a brand, you must protect it against ___________, where people use the brand name without permission.

Infringement

Sabrina was running a day care center for pre-school children. She decorated the walls with images from the motion picture Finding Nemo. One day she received a letter from attorneys representing Pixar and the Disney Corporation asking her to stop using images from Finding Nemo. Pixar and the Disney Corporation were defending their brand against _________?

Infringement

According to diffusion theory, the first 2.5% of the population to adopt a product are called __________?

Innovators

The basic issue when you are dealing with the ______ characteristic of services is that the customer and the service provider have to be together in order for the service to be produced?

Inseparability

According to the research presented in your textbook, what is the most important factor affecting the success rate of a new product introduction?

Insignificant point of difference

When you are dealing with the ___________ characteristic of a service, one approach to marketing services is to make the service seem "real" ?

Intangibility

Most of the functions that need to happen in order to move a product from producer to consumer deal with?

Intangibles

Which of the following is NOT one of the three dimensions to service quality discussed in class?

Intangibles

Starbucks recently announced that it intends to open another 20,000 stores world wide including several in the United States. Even though it seems as if there is a Starbuck on every corner in America, the company feels there is a need for more outlets. This is an example of ___________ distribution.

Intensive

A(n) ____________ is an individual or firm that serves as a go-between when moving products from producer to consumer?

Intermediary

Jill has been sitting through Professor Robertson's class for almost an hour now. She didn't have time for breakfast because... well just because. It is now almost eleven o'clock and she realizes that she is very hungry. This is an example of _________ need recognition that the professor was talking about in class?

Internal

The __________ environment deals with issues that are within your company's ability to control directly?

Internal

The concept of ___________ recognizes that before an organization can effectively take care of customers' needs, it must focus on its employee's needs?

Internal Marketing

The ______________ deals with factors that affect your company, and are within your ability to control directly?

Internal microenvironment

Annabelle is in a hurry. She is on her way home from school and has to prepare for a job interview the next day. In addition, she has a term paper due in her "Philosophy of Pure Reasoning" class that is due the next day. When she is almost home, her roommate calls her on her cell phone and asks her to pick up some laundry detergent - it doesn't matter what kind - on her way home. Based on what you learned about the consumer buying process, which strategy is Annabelle likely to use in identifying alternative laundry detergents?

Internal or memory based strategies because it is the least effortful approach.

BruceCo is a coffee blending company located in Northern California. Because BruceCo's coffees are so popular, the company has sales in all 50 states and in 37 foreign countries. BruceCo is an example of a(n)...?

International firm

One common strategy to extend the life of a product in the maturity stage of the product life cycle is to _________?

Introduce incremental innovations / Reposition the product to appeal to a new market segment

The goal at the ______________ stage of the product life cycle is to get people to try the product for the first time.

Introductory

Companies taking the ________ approach to product development seek to create products specifically for each market they enter?

Invention

Which of the following is not one of the unique characteristic of a service (the four "I's" in the text)?

Invisibility

A market factor...

Is all of these things

According to the material presented in class, a bottom-up budget...?

Is determined at the corporate level

According to the material presented in class, a top-down budget...?

Is determined at the corporate level

The main advantage of primary data is that...?

It addresses your specific research question.

The main advantage of primary data is that?

It addresses your specific research question.

Sometimes companies will agree to a partnership where one company sells its product through another company's distribution network. One of the advantages of this approach is...?

It allows the first company to reach customers it might not otherwise have reached

Why can customer service increase a company's profitability?

It costs ten times as much money to sell to a new customer as it does to sell to an existing customer

Which of the following is a disadvantage of having more than one channel of distribution?

It could create conflict between the two channels

Which of the following is NOT a characteristic of a good Objective?

It is adaptable

According to your instructor, when is it appropriate to ask for the order when closing a sales call.

It is always appropriate to ask for the order

Which of the following statements about a decision support system is FALSE?

It is better to wait until after you know what decision you have to support to begin developing the information to support it

The premise behind sales teams is that...?

It is difficult to find one person who has all of the skills it takes to be a good salesperson

The biggest drawback to every day low pricing is?

It is easy for competitors to offer their products at a price slightly lower than yours.

The major advantage of secondary data is that...?

It is immediately available

In class, we discussed a number of characteristics of the internet. Which of the following is a consequence of the information-rich environment characteristic?

It is important to organize the information in your website in a way that aids navigation and avoids information overload

Contrary to what you would expect, from a planning perspective...?

It is just as bad to exceed the goal as it is to fail to reach the goal

Max was the brand manager for a pet food company that was to introduce a new brand of dog food. Through research, they had discovered that many dogs do not get enough exercise and this new dog food had stimulants added to give these sedate dogs energy. He thought of the brand name "Jump Start Your Fat, Lazy, Puppy" and asked your opinion. You said...?

It is not a good brand name because owners do not want to think of their beloved pets as fat and lazy

In class, we discussed a number of characteristics of the internet. Which of the following is an issue associated with the information-rich environment characteristic?

It is possible to have too much information in a website

In class, your instructor presented research about businesses showing profit leaders generate 39% of sales from new products while profit laggards generate 23% of sales from new products. What was the point he was trying to make?

It is really important for businesses to develop new products.

Which of the following is NOT a major barrier to the execution of integrated marketing campaigns?

It requires the development of a creative platform to coordinate marketing messages throughout the company

BruceCo was planning on running a series of advertisements for their new coffee blend in a local newspaper. Before running the advertisements, the company showed a draft of the ad to several people to see if they reacted to the ad in the way it was intended. This is an example of a ___________ in the advertising development process?

Jury Test

Increasingly channel partners are working together to coordinate their efforts in order to increase the efficiency of supply chains and distribution networks. One supply network strategy is for the producer to share ordering and production information with suppliers and transportation intermediaries in order to minimize inventory by scheduling raw materials and components to arrive at the time the producer is ready to use them to manufacture products. This strategy is called?

Just in time inventory management

According to the text, ____ is one of the major reasons employees violate a company's code of ethics?

Lack of specificity

One of the most obvious differences when traveling from one country to another is that the ________ may be different?

Language

___________ are society's values and standards that are enforceable in court?

Laws

Your textbook describes three alternative outcomes or responses for direct marketing. When the direct offer includes a description of an interesting product or service and asks you to call or visit the internet for more information, the desired response is probably?

Lead generation

One of the issues in customer service is ________ which recognizes that customer orders cannot always be filled immediately?

Lead time

One of the ways to leverage brand equity is to engage in ____________ where you allow others to use your brand name for a fee or other compensation?

Licensing

Jin is shopping for clothes for school. He is very self confident and knows and trusts his classmates. Still, he would like to look nice on the first day. Jin is likely to use ________ problem solving as he purchases a new shirt for school?

Limited

Pearl went shopping for school supplies at Target. She found the pencils, paper, and binders easily. However, there was a special kind of graphing calculator that her school required and she couldn't find it on the shelf. She presses the customer assistance button and within a minute a friendly associate was there to help her. The associate told her that they were currently out of stock on the calculator. She could wait until the new shipment arrived tomorrow or, if she wanted to go to a nearby store where the calculator was in stock, the associate would be happy to call ahead and have one reserved for pearl. This is an example of _____________ retailing?

Limited service

Tran has just completed a research project for his boss. He reviewed the political, legal, environmental and competitive factors that might have an impact on his company's ability to launch a new product. Which of the major marketing functions was Tran doing?

Listening to the market

Which of the following is NOT an issue in creating a retail store's image in the mind of the consumer

Logistics

______ deals with organizing the cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements?

Logistics management

What is the relationship between the strategic planning that occurs at different levels in an organization?

Lower-level strategic plans must fulfill what is called for in higher-level strategic plans

Whenever I go into Safeway, I have to scan my Safeway card to receive the advertised discounts. Sometimes, when I have purchased a certain amount of groceries, the cash register will spit out a coupon good for 5% off of my next purchase. This is an example of a ____________ sales promotion?

Loyalty program

People may not be conscious of their true motivation for purchasing a specific product. This is especially true for socially consumed products such as luxury cars and designer fashions. They may say they are purchasing these products because they are of high quality or an excellent value. The real reason is more likely to be:

Luxury products are a way for them to maintain their self image

In an oligopoly situation, where the demand curve for the product is kinked, what is the best strategy to increase profits?

Maintain price and reduce costs

According to Ries and Trout, consumers organize products into categories in their minds. The goal of positioning is to...?

Make it so that your product is the first thing that comes to mind when a category is mentioned

Which of the following is not a type of merchant wholesaler discussed in the textbook?

Manufacturers representative

Frequently, a retailer will offer a discount from its retail price. This _________ may be in order to move unsold inventory or to increase traffic into the store?

Markdown

Julio is the sales manager for Champion Spark Plugs. Julio knows that there will be a need for 4.6 sparkplugs (on average) for every new car built this year and a need for 0.7 replacement sparkplugs for every car built in the last seven years. Julio is likely to use the ___________ method for forecasting demand?

Market Factor Analysis

According to the textbook, a company might use ____________ strategies to find new customers, increase a product's use among existing customers, or create new user situations?

Market modification

What is a major disadvantage of the market factor analysis method of forecasting?

Market potential is the upper limit of sales for the industry as a whole, sales potential is the upper limit of sales for your company

According to the material discussed in class, in addition to the three primary sales roles, salespeople are often asked to engage in?

Market research

BruceCo competes in the premium coffee market in the San Francisco area. The biggest competitor, Starbucks controls 48% of the market while BruceCo controls only 1% of the market. BruceCo is measuring _________?

Market share

BruceCo is a company that makes products for the coffee industry. They subscribe to a clipping service that monitors newspapers in major cities around the world for articles related to the coffee industry. This is an example of _____________ in a marketing information system?

Marketing Intelligence

Which of the following is NOT a tactical issue that needs to be addressed in the marketing plan?

Marketing Objectives

A _____________ is a comprehensive review of an organization's marketing activities and capabilities?

Marketing audit

The difference between the retail price and the store's cost of goods sold (COGS) is its __________?

Markup

According to your instructor, most consumer products are in the _____________ of the product life cycle?

Maturity

The goal at the ______________ stage of the product life cycle is to maintain market share and extend the life of the product.

Maturity

Psychographics, the practice of combining psychology, lifestyle and demographic information to segments markets can provide useful insight about consumer motivations and buying patterns. One of the weaknesses of using this approach for market segmentation is that it is difficult to _______ psychographic segments?

Measure

According to the text, there are two styles of family decision making: spouse dominant and joint. Research indicates that wives tend to have the most say when purchasing?

Medicines

Which of the following statements about the number of alternatives identified in the consumer buying process is FALSE?

Memory based searches will usually identify more alternatives than external searches.

A _______________ has at least one urbanized area of 50,000 or more people and adjacent territory with a high degree of social and economic integration?

Metropolitan statistical area

The __________ environment deals with issues that affect your company only?

Micro

A _______________ has at least one urbanized area of at least 10,000 but fewer than 50,000 people and adjacent territory with a high degree of social and economic integration?

Micropolitan statistical area

One of the strategies during the decline stage of the product life cycle is to stop spending money on advertising continue to sell the product as long as customers are willing to buy it. This strategy is called...?

Milking the product

According to your instructor, how does the basic communication model illustrate how important writing skills are to business today?

Most commercial messages go through a written phase regardless of their eventual channel of transmission

Which of the following assumptions about companies that employ marketing professionals is probably true?

Most companies have more than one one product and more than one target market

What is the basic assumption we make when dealing with product management issues?

Most companies have more than one product to deal with

When developing contingency plans, the ____________ scenario represents your best estimate of what actually will happen?

Most likely case

People who argue that the internet is currently in the second phase of Naisbit's diffusion of a technology would say that all of the commercial activity on the internet today is simply...?

Moving existing business practices online in order to do them more efficiently

BruceCo is a coffee blending company with locations all over the world. Because tastes for coffee vary greatly from country to country, BruceCo uses a different brand name and product mix in every country where they do business. BruceCo is an example of a(n)...?

Multinational firm

The grade for this class is based on:

Multiple choice tests

A major disadvantage of _______________ is that it can create confusion for customers about what the brand really means?

Multiproduct branding

Campbell's soup has dozens of different flavors and packages of soup. All of them have the same distinctive red and white packaging. You have to read the label to tell the varieties of soup apart. This is an example of:

Multiproduct branding

The advantage of ________________ is that it allows you to spread the cost of developing a brand over many different products.

Multiproduct branding

One way to segment markets for business customers is by industry type. This approach is attractive because many __________ which makes it cost effective to measure the number of potential customers in an industry?

NAICs codes

According to the textbook, cross-cultural analysis suggests that residents of different countries have a distinct ____________?

National Character

A ______________ or _______________ is usually the property of the business that manufactures a product?

National brand, producer brand

When using a SWOT analysis, a threat is an issue that is...?

Negative, External

When using a SWOT analysis, a weakness is an issue that is...?

Negative, Internal

Which of the following is one of the three primary roles for a salesperson as discussed in class?

New customer development. / Generating transactions

The ______________ is an important factor during the introductory stage of the product life cycle?

New product adoption process

Mariela was trying to prove to her friends how difficult it is for marketers to discover the needs of prospective customers. Which of the following statements best supports this argument?

New product experts estimate that up to 94% of new consumable products will not succeed in the long run

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company typically determine the relative importance of new product development to the overall goals of the organization?

New-product strategy development

Bruce has always wanted to own a Ferrari automobile. For him it will always be a dream because he will never be able to afford to buy one unless gets a better job and saves his money for several years. Is Bruce part of the potential market for Ferrari automobiles?

No because he doesn't have the money to buy a Ferrari

Sabrina is thinking of starting a new line of coffee shops. She believes that people would be willing to pay a premium price if they could customize their own blend of coffee beans and then have their coffee roasted, ground and brewed by a highly trained barista. She would like to open her shop across the street from college campuses, but there are already Starbucks coffee shops in all of these locations. Is this business a good candidate for branding?

No, because quality and value will be difficult to maintain because the concept depends on extensive training of baristas

The basic communication model describes how a message is transmitted from a sender to a receiver. Any of the several factors that could interfere with the ability of the sender to transmit the encoded message accurately are called?

Noise

Direct mail, catalog sales and vending machines are all examples of...?

Nonstore retailing

Two recent trends in retailing, television shopping channels and online selling are examples of...?

Nonstore retailing

Which of the following is NOT an example of economic integration discussed in the textbook?

OPEC

Sometimes a customer will ask questions during a sales presentation that may suggest the customer does not want to buy the product. The salesperson needs to deal with these ___________ before continuing with the presentation?

Objections

A (n) ______________ is a targeted level of performance that the planning entity wants to achieve?

Objective

In class, we discussed several approaches to establishing a promotions budget. Which of these approaches is generally the best one to use?

Objective task

According to the textbook, Wheaties Dunk-a-Balls breakfast cereal failed to catch on because?

Oh come on... I mean basketball shaped cereal? You are just asking for kids to make a huge mess playing with their breakfast food.

Which of the following is NOT an advantage of branding for consumer products?

Once a brand has been established, you do not have to maintain it

According to your instructor, the reason people experience buyers remorse after making a major purchase is because?

Once you have made a choice between two attractive alternatives, you experience a sense of loss over the alternative that you didn't choose.

BruceCo is a small coffee company. Recently, the surgeon general announced that students who consume massive amounts of coffee the night before an examination tended to perform better than students who do not drink coffee. In terms of a SWOT analysis, this would be considered a (n) ________ for BruceCo?

Opportunity

According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies tend to have flat and flexible ____________?

Organizational structures

What is the societal marketing concept?

Organizations should satisfy the needs of consumers in away that provides for society's well being.

Which of the following is NOT a component of the promotional mix?

Packaging

A __________ is an outstandingly clear example or an archetype?

Paradigm

One of the main ADVANTAGES of observational data collection is?

People are frequently unaware or unable to say what their true motivation is

Which of the following statements about the result of cognitive miserliness is TRUE?

People will choose the first acceptable solution to a problem rather than choosing the best solution to a problem

What is the essence of the loss aversion principle discussed in class?

People will work harder to avoid a loss than they will to achieve an equivalent gain

Seishiro had a pain in his lower back - probably from studying too hard for marketing 431. So he decided to visit a massage therapist in order to get a massage. He had heard of a massage therapist who was very good at relaxing sore lower backs. He made an appointment with this therapist even though the office was 40 miles away and he would have to miss one of his other classes (Seishiro would never miss Marketing 431!) to keep the appointment. If we were to classify this service, we would probably call it a ______________ service?

People-based

Which of the following is a component of brand equity according to David Aaker?

Perceived quality

In class, we discussed several approaches to establishing a promotions budget. Which of these approaches is the one most commonly used in business?

Percent of sales

In addition to monitoring sales, the ____________ function of a sales manager might also include monitoring non-sales related marketing activities of the salespeople?

Performance evaluation

The basic issue when you are dealing with the __________ characteristic of services is that the time or capacity to provide services is limited and fixed?

Perishability (Inventory)

Chez Bruce is the fanciest restaurant in the city. If you want to make a reservation, you have to make it before 5:00 pm or after 10:00 pm. There is so much demand for seats at the restaurant that you have to wait in line during peak hours. Bruce is using this strategy to deal with the __________ characteristic of service provision.

Perishability (inventory)

Bruce is introducing a new kind of test grading machine. The machine is very complicated, but it can save college professors a lot of time and money once they understand how to use it. College professors don't watch a lot of television. Which promotional tool might work best in this situation?

Personal selling

Which element of the promotional mix usually compromises the largest part of the promotions budget?

Personal selling

_____________ involves two-way flow of communication between a buyer and a seller designed to influence the purchase decision?

Personal selling

Which of the following is NOT one of the social influences on the consumer buying process discussed in class?

Personality

_______________ refers to a person's consistent behaviors or responses to recurring situations?

Personality

Employees at Walt Disney Resorts wear distinctive uniforms and are trained to always be in character when they are visible by the park's guests. They put on their costumes in areas that are not visible to guests so that they will always look the part when they are on the job. This is an example of using _____________?

Personnel

Binge drinking is a problem for many students at American colleges. Most college students know that binge drinking is part of the experience and have ideas of how much fun it will be. Unfortunately, many student perceptions of binge drinking are formed based on movies such as "Animal House" which portray binge drinking as a glamorous and a little bit risky but in a safe way. The reality is that binge drinking can lead to violence, death and a host of other serious problems at school. It is important for students to understand that moderation is important. Because of this, many schools include a segment on the dangers of binge drinking in their orientation packages. The basic strategy for marketing this idea is to ______________?

Persuade

According to the textbook, which of the following is NOT a criteria used by JCPMedia, (the purchasing arm for JC Penney) to evaluate paper suppliers?

Photography department

Frodo was a massage therapist. He was very good at dealing with lower back pain. He gave his clients a book that they could use to keep a record of their visits to his practice and record their thoughts and feelings about the therapy. In the front of the book was a beautiful picture and an inspiring poem that would remind his clients that lower back pain can be treated with a visit to Frodo. By using the book, Frodo's patients could benefit from his practice even if he wasn't with them personally. Frodo was using the ___________ approach to making his service seem "real"?

Physical representation

The two basic sources of motivation discussed in class are?

Physiological, Psychological

Understanding government policies toward intellectual property and expatriation of profits in an important part of scanning the global ___________ environment?

Political and legal

When assessing the global political and legal environment, looking at a country's form of government, civil unrest and attitudes toward foreign business can help assess the _________ of a country?

Political stability

When conducting a global environmental scan, demographic indicators such as ______ are used to assess the potential labor pool within a country?

Population age

In addition to determining the amount of money you will receive for your product, price serves as a __________ tool, signaling to customers where your product stands in relation to similar product offerings?

Positioning

Which of the following is NOT one of the four roles for promotion discussed in class?

Positioning

Which promotional role might be most appropriate for a product in the introductory stage of the product life cycle?

Positioning

____________ is a strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition?

Positioning

If customers purchase your product and find that it performs as well or better than they expected, they will be forming _______________ an important step in creating brand equity?

Positive Brand associations

When using a SWOT analysis, an opportunity is an issue that is...?

Positive, External

When using a SWOT analysis, a strength is an issue that is...?

Positive, Internal

Which of the following is NOT an example of an intangible that can be marketed?

Precious metals

Recently, Pepsi sponsored a rally at the student union on campus. Students who were willing to participate in an activity received a free Pepsi T-shirt. You could see happy students wearing Pepsi T-shirts all day. This is an example of a ____________ sales promotion?

Premium

The __________ is the heart of the personal selling process and the object is to convert a prospect into a customer?

Presentation

When using the consultative approach to selling, the first part of the _____________ stage of the personal selling process involves asking a series of questions so that the salesperson can understand the customer's needs?

Presentation

_________ is the money or other considerations (including other goods or services) exchanged for the ownership or use of a good or service?

Price

Colgate Palmolive created a special package that included a free regular-sized tube of toothpaste when you purchase a family-sized tube of toothpaste at the regular price. This is an example of...?

Price bundling

Colgate Palmolive developed a new line of Colgate brand mouthwash. As part of the introduction, they included a free sample of Colgate mouthwash with every tube of Colgate toothpaste. This is an example of...?

Price bundling

Sometimes companies will sell a product below their cost of production for a short period in order to gain market share or to reduce excess inventory. This ____________ can be risky, especially if competitors match the reduced price making it difficult to raise prices back to long-term profitable levels.

Price floor pricing

For companies operating in an oligopoly market structure, prices tend to be very stable. In these situations, the company with the largest market share might raise its prices in hopes that other, smaller companies will follow. If this happens, the price will increase. This is called the ____________ to setting prices?

Price leadership approach

Companies that have several products in the same category might use ____________ as a way to establish different positions for each product in the category in the mind of the consumer?

Price line strategy

_____________ are factors that limit the range of prices a firm may set for its products?

Pricing constraints

The VALS system identifies eight consumer segments based on (1) ____________ and (2) _______________?

Primary motivation, resources

Typically, _______ is done by the retailer of a product rather than by the manufacturer?

Private branding

A ______________ or _______________ is usually the property of the retailer that distributes and/or sells a product?

Private-label brand, middleman brand

A ________sample means that every person in the population of interest has a known chance of being included in the research.

Probability

Serge is developing a line of healthy hamburgers. He has conducted market research where he asked people in a group setting what they prefer in a healthy food. Everybody said that the most important feature in healthy food is low fat content. Based on this, Serge is planning to introduce a hamburger with the lowest fat content of any hamburger on the market. Will the product be successful?

Probably not because, although people say they want low fat in a hamburger, what they really want is a hamburger that tastes good. People are not always aware of what their true motivations are.

Grocery stores frequently put items such as candy bars or chewing gum next to the check-out lines. The reason is that simply seeing the candy display may make a consumer hungry for a candy bar. This tactic tends to affect consumers at the ________ stage of the consumer buying process.

Problem recognition

When I go to the store, I see several different types of cola products. Normally I prefer Coke Zero, but sometimes I am in the mood for a different kind of soft drink. I may buy an energy drink, or a Snapple, or even head over to the mall for a Jamba Juice. For Coca Cola, these other soft drinks are examples of ______________ competition?

Product

Which of the following is NOT a typical application of data mining as discussed in class?

Product abandonment

According to the textbook, product class represents the life cycle of entire industries. Within the product class of video game consoles and software, 8-bit, 16-bit and 128-bit machines would be considered ________ within this product class?

Product forms

The _________________ is a concept that explains how products go through four distinct stages from birth to death.

Product life cycle

A marketing organization that using (the) _____________ will have a set of marketing functions such as sales, advertising, research, for each product line?

Product line organization

Probably the most famous _____________ sales promotion in history came with the Movie ET. In this movie, the hero, an alien lost on our planet, was lured into some children's house with a trail of Candy. The script called for M&M's chocolate candy, but the makers of M&M's were unwilling to pay to have their candy in the film. The makers of Reese's Pieces were more than happy to pay for the privilege and the movie's popularity made the candy a success?

Product placement

The four "P's" are?

Product, price, promotion and distribution(place) / The marketing mix variables we use to create need-satisfying offerings

According to the textbook, e-marketplaces bring together buyers and supplier organizations to make possible the real-time exchange of information, money and products. Which of the following is NOT a feature that would make an e-marketplace likely to succeed?

Products that hold their value over time and are not likely to go out of date or spoil

The ______________approach to social responsibility in business believes that a company is only responsible to its stockholders?

Profit responsibility

Yuli is the California regional manager for a suntan lotion company. Tomorrow morning she must meet with her supervisor for her annual performance review. In preparation for the meeting, she prints a copy of a routine ____________ showing her performance for the year compared to her goals.

Progress report

According to your instructor, the world is quickly becoming a place where companies that fail to ___will find themselves at a disadvantage in terms of reaching customers and finding good employees?

Promote diversity

______________ is the coordination of a marketer's communication efforts to influence attitudes or behavior?

Promotion

Mickey was hired by Metropolitan Life Insurance Company as a sales representative. The first task was to generate a list of 100 close friends and relatives who might be interested in talking about life insurance. This is an example of the ____________ phase of the personal selling process?

Prospecting

The ______ stage of the sales process deals with creating the opportunity to make you presentation to the appropriate person?

Prospecting

Which of the following is NOT a perceptual benefit of packaging?

Protect the product from excessive heat or cold

____________ is the practice of shielding one or more industries within a country from foreign competition.

Protectionism

Which of the following was NOT one of the three approaches to selling discussed in class?

Psychological selling

Which element of the promotional mix usually compromises the smallest part of the promotions budget?

Public relations

____________ is a form of communication management that seeks to influence the image of an organization and its products and services?

Public relations

Advertisers frequently engage in ___________ where they exaggerate the benefits of the product without actually making a false claim about the product?

Puffery

Because of the user control characteristic of the internet, marketers must use a _______strategy to involve consumers in the site?

Pull

Sanjeev was opening a new shrimp farm in Louisiana. Shrimp is the number one selling seafood in the United States and he felt that growing demand would allow a new business to succeed. In order to convince the buyer at Winn Dixie grocery stores to carry his product, he ran coupons in the local newspaper where Winn Dixie had stores offering customers a free 16 ounce bag of frozen shrimp. Sanjeev was using a _______ promotion strategy?

Pull

Marketers of seasonal products such as Valentines Day chocolates frequently use a ________ advertising scheduling tactic?

Pulsing

The market structure in which companies have the MOST flexibility in setting prices is?

Pure monopoly

Sanjeev was opening a new shrimp farm in Louisiana. Shrimp is the number one selling seafood in the United States and he felt that growing demand would allow a new business to succeed. In order to find customers for his product, he sent samples of his 16 ounce package to the seafood buyers of the 15 largest grocery store chains. Along with the sample was an offer for 50% off the wholesale cost of shrimp for the first order. Sanjeev was using a ______ promotion strategy?

Push

Although not usually considered to be an ethical issue per-se, ___________ which deals with the performance, reliability, and safety of products can be thought of as "product ethics"?

Quality

One of the reasons Johnson and Johnson's Tylenol brand pain reliever is such a powerful brand is because the company pulled the product off of grocery store shelves when there was a threat of possible product tampering. They did this even though it cost them money. This is an example of defending the ______ of the brand?

Quality

Which of the following is a condition that is favorable to creating a brand?

Quality and value are easy to maintain. / What he or she is expected to do in order to create the service

What is an attribute?

Quality or characteristic inherent in or ascribed to someone or something.

When we say a measure is __________ we mean that it should involve a number?

Quantifiable

Sometimes it is not feasible to conduct causal research because meeting all of the conditions (for example a probability sample when you aren't sure how many people are in the population). In these cases researchers may conduct ____________ research which is almost as good.?

Quasi-experimental

A ____________ is a restriction (either voluntary or mandatory) placed on the amount of a product allowed to enter or leave a country.

Quota

Carlina operates a wholesale lumber business serving contractors in her Midwestern city. She takes orders from a central location and delivers the lumber and other building materials to the contractor's jobsite using her own trucks. She orders her lumber from a mill in Washington State. Because the lumber is bulky and she orders large quantities she uses _________ transportation for this part of her business?

Rail

_________ represents the percentage of your target audience who were exposed to a specific advertisement?

Reach

Many sales managers report that _____________ is a high priority for them because turnover in the sales force is so high that they are always looking for good people?

Recruitment and selection

In the maturity stage of the product life cycle, profits can be increased by?

Reducing your costs

A _______________ is an actual or imaginary group that has a significant impact on a person's evaluations, aspirations or behavior?

Reference group

The ____________component of the external macro-environment deals with restrictions state and federal laws place on a business' activities?

Regulatory

One of the reasons the United States is competitive in high-technology industries is because of the existence of places like Silicon Valley in California. There you can find top-level universities, experienced technology firms and a pool of talented engineers from around the world. This is an example of ____________ that may give the United States a competitive advantage in the global marketplace?

Related and supporting industries

What is the difference between a relationship and an exchange?

Relationship marketing takes a longer-term perspective than exchange marketing. In a relationship, the transaction is influenced by the history of previous transactions, in an exchange the transaction stands on its own merits. It may be good business to lose money on a transaction in a relationship; it is rarely good business to lose money on a transaction in an exchange.

When we say a measure is __________ we mean that it relates directly to the goal it is intended to measure?

Relevant

Bruce is afraid he is gaining weight. He got on the scale this morning and he was 10 pounds heavier than he was last night. He got on the scale again after breakfast and he had lost 10 pounds. Just before leaving for school he got on the scale again and he was 5 pounds lighter than he was after breakfast. Clearly, there is a problem with the _________ of Bruce's weight measurements?

Reliability

According to your instructor, what is a major disadvantage of the trend analysis method to forecasting?

Relying on statistical analysis means you risk ignoring foreseeable environmental factors.

The primary audience for press kits is

Reporters

According to your instructor, what is pseudo-research?

Research that is conducted to support a decision that has already been made

The basic communication model describes how a message is transmitted from a sender to a receiver. The receiver's _________ depends on how the message was interpreted by the receiver?

Response

Coca Cola's basic strategy is they you should never be more than an arms length away from a cold, refreshing Coke. In order to achieve this strategy they try to make Coke products available for sale through as many outlets as possible. You can buy bottled Coke in the grocery store, fountain coke at a restaurant, single cans and bottles at convenience stores and gas stations, and individual cans from vending machines while you are waiting in line for a ride at an amusement park. Because the goal of the supply cabin is to maximize __________, Coke is willing to bear the expense of having several different channels of distribution?

Responsiveness

_______________ is all of the activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family or household use?

Retailing

Alexandra is the purchasing agent for a large company. She needs to replace all of the office furniture in all 40 locations in the united states. Being technology savvy she decided to go online and offer the contract in a(n) ___________ in order to get the lowest price for this contract.

Reverse auction

The concept of _________ deals with the flow of returns, and recyclable materials from the end user to the producer?

Reverse logistics

Pearl is on her way to a party. She turns on her digital camera and notices that the batteries are almost dead. Pearl is likely to engage in _________ problem solving as she makes this decision?

Routine

A ______________ is a tool for evaluating an organization's internal and external strengths and weaknesses?

SWOT analysis

______________ are programs designed to build interest in or encourage purchase of a product during a specific time period?

Sales promotion

A marketing organization that using (the) _____________ can be structured around geographic territories, product groups or customers?

Sales specialization

The major advantage of ____________ is that it allows salespeople to spend less time doing paperwork and more time in front of customers?

Salesforce automation

Which of the following is an example of "listening" to the market?

Sandra reviews the J.D. Powers quality report for her product

According to the instructor, what is the best way to prepare for the final examination?

Schedule a minimum of one hour each week just to take the mini tests. Take the mini tests that are "live" until you have 10's. Then go back and take the practice tests. Keep taking the practice tests over and over to keep the questions and answers fresh in your mind.

_______________ refers to an approach to merchandising where a retailer may carry several unrelated lines of merchandise in order to meet the needs of its target market?

Scrambled merchandising

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a identify feasible ideas and turn them into product concepts?

Screening and evaluation

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. She went online and searched for several coffee services. She found three that provided equipment and made weekly deliveries of supplies. She chose the supplier that advertised the lowest price. Hermione used ___________ to evaluate the quality of this service?

Search qualities

Huyen wanted to answer the research question "what causes students to be unhappy with Marketing 431". Although no one had conducted research on marketing 431, there were hundreds of studies that had been done about why students are unhappy with college classes. Huyen was able to take advantage of this __________ data to answer her research question?

Secondary

Huyen wanted to answer the research question "what causes students to be unhappy with Marketing 431". Although no one had conducted research on marketing 431, there were hundreds of studies that had been done about why students are unhappy with college classes. Huyen was able to take advantage of this __________ data to answer her research question?

Secondary

Which of these trends is the result of advertisers seeking to deal with the problem of getting their communications noticed in a world where ad clutter is increasing?

Seeking non-traditional channels distribute sponsored communications

Which of the following is NOT part of the five-step market research process used in this class?

Segment the market

Bruce is a fan of the Minnesota Vikings Football team. He was watching a game between the Minnesota Vikings and the San Francisco Fortyniners on San Francisco television station. He expected that the announcers would favor the local team and it appeared that he was right. Even though a national media agency gave the local announcers an award for the most unbiased coverage ever in a televised football game, Bruce remained convinced that the announcers had favored the local team. This is an example of ______________?

Selective interpretation

Confirmation bias recognizes that people will be more likely to believe someone who agrees with what they already think than someone who disagrees with what they think. Confirmation bias is the result of:

Selective interpretation

Which of the following is NOT recommended by your instructor as good source of information to use in understanding your current market position

Self information

Which of the following would be considered a higher-level need according to maslow's hierarchy of needs?

Self-actualization

Allen had lunch at the Automat. This is a trendy new restaurant where the customer selects ready-made sandwiches, soups, salads, desserts, and drinks from little compartments along a wall. He then places the selections on a tray, takes it to the check out section, scans each item, and pays for it with a debit card before going into the dining area to eat. There is a crew of cooks who replace the items people select from the other side of the wall. This is an example of _____________ retailing?

Self-service

___________ is the study of symbols and their meanings?

Semiotics

According to your instructor, which of the following techniques is the best way to maintain a relationship with a customer?

Send a birthday card on the customer's birthday

The thing that distinguishes advertising from public relations is that advertising communications are ____________?

Sent over a medium

Delilah just bought a new cell phone. She signed a contract that gave her 1,000 anytime minutes, voice mail, call forwarding, ringtones, the ability to download mp3's, and free calls to others who used the same service. The cell phone was free as long as she agreed to use the service for two years. In terms of the goods-services continuum, this is an example of a _____________?

Service dominated offering

Roxanne has completed her positioning analysis and has decided that she needs to reposition her product to a more attractive segment. In order to do this she needs to consider...?

She needs to consider all of these things

According to your instructor, which of these tools used in materials handling is a recent (last 50 years) innovation that has revolutionized the shipping industry?

Shipping containers

One of the advantages of ____________ is that they can be moved from one platform to another without having been loaded or unloaded. Names such as piggyback, fishyback relate to the variety of transportation options?

Shipping containers

Destination retailing recognizes that in addition to satisfying needs through purchasing products, for many people, shopping is...?

Shopping is all of these

The key to success with the ____________ approach to selling is to contact as many people as possible and hope that one of them will be interested in your product?

Shotgun selling

Eseffisue Company has developed a portable solar-powered global positioning (GPS) device. There is a high demand for the product and until now, there wasn't anything like it on the market at any price. The company has a patent and the most important attribute for a GPS device is quality. Eseffisue Company should use a ____________ approach to pricing this product?

Skimming

One of the ethical issues in distribution is for retailers to require manufacturers to pay _________ to ensure placement of new products in a store. This practice is legal, but there is a question of whether it deprives customers of their right to choice under the Consumer Bill of rights?

Slotting fees

Huyen wanted to conduct market research to find out why students were unhappy with Marketing 431, probably the finest course ever to be offered by a university. In order to do this she needed to find people who were unhappy with the course. Figuring that these people would talk to each other, she used a sampling technique where she found one person who was unhappy with the course and, after asking her research questions, asked this person for the name of another person who was unhappy with the course. This technique is called _____________ sampling?

Snowball

Why is it important to understand the assumptions that went into the research when you are making recommendations?

So you don't overgeneralize - or read more into the data than is actually there

According to your instructor, the information source that has the greatest influence on the consumer buying process is?

Social

The ______ component of the external macro-environment deals with the demographic characteristics of a population and its values?

Social

________________ consists of the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests, and behaviors can be grouped.

Social Class

A ________________ is a systematic assessment of a firm's strategies, objectives and performance in terms of social responsibility?

Social/ethical audit

The ______________ approach to social responsibility in business believes that a company is has obligations to the environment as well as the general public?

Societal responsibility

Which of the following is NOT a characteristic of a product line?

Sold to different customer groups / Tend to be the same from company to company

One of the barriers to creating intelligence within an organization is?

Sometimes people don't do the paperwork asked of them

A dynamically continuous innovation is...?

Somewhere in the middle of the new product continuum.

One of the ongoing demographic trends in this country is the migration of population to the _______ and _________?

South, West

One of the ways intermediaries create value is to...?

Specialize in one or more channel functions in order to become better at it than others in the channel. / Provide value-added functions such as customized customer service that the producer is not able to deliver / Decrease the number of transactions needed to create an efficient market.

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union fro a bowl of ice cream. All they had was Dreyers Ice Cream and Bruce was really in the mood for Haagen Daz. So he walked over to Stonestown mall in order to get a bowl of Haagen Daz Ice Cream even though he really didn't have the time. In terms of product classification, Haagen Daz ice cream could best be described as a(n) for Bruce?

Specialty good

All of the following are characteristics of the internet presented in class EXCEPT:

Spoken-word interface / Extremely high-cost information storage and transmission/ government oversight

Chun has developed a line of insect repellent with no bad chemicals in it. She used psychographic segmentation to define her primary segment as environmental activists. Which of the following is the WORST way that Chun could communicate with this segment?

Sponsor a fishing tournament

A ____________ is a public relations activity where companies provide financial support to help fund an event in return for publicized recognition of the company's contribution?

Sponsorship

The ______________ approach to social responsibility in business focuses on obligations to those who can affect a company's ability to achieve its objectives?

Stakeholder responsibility

Companies taking the ________ approach to product development seek to create a global brand that can be used worldwide?

Standardization

Which of the following was NOT one of the bases for market segmentation discussed in class?

Statistics

Lupe is registered for Marketing 431, Principles of marketing. She has not yet completed all of the prerequisites for this class. According to the professor, Lupe should?

Stay in the class for a couple of weeks to see if she is able to keep up with the level of work required even though she does not have all of the prerequisites. If she doesn't feel capable of keeping up with the work, she should drop the class before the 4th week drop-add deadline so that the class won't count as one of her three strikes.

The ___________ sales presentation format involves asking a series of questions hoping that one of them will appeal to the customer?

Stimulus-response

Kendra runs a wholesale distribution center for candy. Each month she receives a shipment of candy from her supplier. She always has enough inventories on hand so that her retail customers can buy cases of candy whenever they need it. Kendra is adding value by ___________?

Storing

According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies have clearly stated and focused ____________?

Strategies

A major difference between a business plan and a marketing plan is that a Business plan will include while a marketing plan will not?

Strategies for each functional area

BruceCo is a small coffee company. They pride themselves on being friendly. Every employee is trained to greet their regular customers by name and get a bonus if a customer says something nice about the employee. As a result, BruceCo's customers are very loyal. In terms of a SWOT analysis, this would be considered a (n) ________ for BruceCo?

Strength

The last stage of the market research process involves all of the following EXCEPT?

Submitting expense reports

The theory of competitive advantage discussed in class...?

Suggests that the global economy will be richer if individual countries specialize

Many hotels in the United States don't have a 13th floor. That is because the number 13 is considered to be unlucky. This is an example of a culture's...?

Superstitions One of the most obvious differences when traveling from one country to another is that the ________ may be different?

A supply chain consists of both a ________ and a _________?

Supplier network, marketing channel

Which of the following statements best describes the relationship between marketing strategy and supply chain management?

Supply chain management is a took that can help you implement your marketing strategy

Which of the following research techniques is most likely to be used in descriptive research?

Survey Questionnaire

Alexis is the furniture division sales manager for a textile (cloth) manufacturing company. He has a team of 15 salespeople who call on 200 customers regularly over the course of the year. These customers account for 85% of Alexis' company's sales and buy 80% of the textiles used for furniture in this country. Alexis is likely to use the __________ method to forecast demand?

Survey of buyer intentions

BruceCo is a company that makes products for the coffee industry. They subscribe to IRI's (Information Research incorporated) marketwatch newsletter to help them understand what is happening with coffee in retail stores. This is an example of _____________ in a marketing information system?

Syndicated reports

The Broyhill furniture company designed a sofa that retailers could sell for $699 and still make a profit. This was because retailers had told the company they needed a promotional sofa that would cost less than the $1000 or more for a typical sofa. They would feature the promotional sofa in their advertisements to bring customers into the store. This is an example of...?

Target profit pricing

A ___________ is a government tax on imported goods intended to make imported products more expensive to domestic consumers.

Tariff

The ____________ component of the external macro-environment deals with inventions or innovations from applied science or engineering research?

Technological

Brucesylvania is a small country virtually devoid of natural resources. Although poor, and small in number, the people in Brucesylvania are some of the smartest, most creative thinkers on the planet. In order to compete in a global marketplace, the theory of competitive advantage suggests this country might specialize in...?

Technology

There are many factors that influence the evolution of retail concepts. Certainly in the past few years, ____________, especially the widespread diffusion of the Internet has had a huge impact on the retail landscape?

Technology

According to the figure 19-2 in the textbook, which advertising medium receives the largest amount of advertising money?

Television

The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The LAST thing you have to do is?

Tell the person what you want them to do

According to the material presented in class, an outcome measure...?

Tells you whether or not you achieved your goal

Lindsay Wagner, the Bionic Woman of television fame, appears in advertisements for the Sleep Comfort Adjustable bed. In the advertisement, she explains how the ability to change the level of firmness in the mattress has changed her life. This is an example of a(n) __________ appeal in advertising?

Testimonial

In discussing the impact of the internet on channels of distribution, we talked about disintermediation and reintermediation. What do we mean by reintermediation?

That as most of the functions associated with distribution are information-based, businesses are likely to emerge using internet-based solutions to solve distribution problems more efficiently than brick and mortar businesses can

What do we mean when we speak of the price/value heuristic?

That in general, people perceive a product with a higher price to be a better product

What do we mean when we say that marketing personnel are frequently boundary spanners?

That in order to do their jobs, marketing people need to understand the situation inside the organization as well as the situation outside of the organization.

In discussing the impact of the internet on channels of distribution, we talked about disintermediation and reintermediation. What do we mean by disintermediation?

That intermediaries that specialized in functions performed more efficiently by the internet will disappear

What concept was the instructor trying to illustrate when he discussed the "stupid customer syndrome"?

That manufacturers of products tend to focus on the features they build into a product rather than on the customer's perception of value.

What did your instructor mean when he mentioned the concept of cognitive miserliness?

That people do as little "thinking" as possible when making a decision.

What was the point of all of the pictures of retail spaces through the ages the instructor showed in class?

That the activity taking place, rather than the historical period determines the structure of a retail space

What do we mean when we speak of a "defensible" decision?

That the decision incorporated all of the relevant information available at the time the decision was made.

What do we mean when we say a business purchasing agent has $50,000 buying authority?

That the individual has permission to spend up to $50,000 without asking permission.

What do we mean when we say people can be "packaged" in order to market them?

That we need to create a brand personality around the person

What was your instructor talking about when he claimed that there is no such thing as a good decision or a bad decision at the time you make it?

That you never know the outcome of a decision until after it has been made and you can see the results

The Boston Consulting Group matrix is a 2x2 matrix with four positions: cash cows, stars, problem children (or question marks) and dogs. When looking at market segments, the portfolio approach is a useful tool for:

The BCG matrix is useful for all of these.

Which of the following is a not-for-profit organization?

The Muscular Dystrophy Association which raises money with its annual telethon

In class, we discussed a number of characteristics of the internet. Which of the following is an issue associated with the global presence characteristic?

The World Wide Web has no geographic boundaries

Hewlett Packard uses Intel chips in its laptop computers. Through an amazing marketing effort, demand for HP laptops is 5% over what was projected. When they contact Intel to increase their chip order by 5% they are told that the price for the new chips will be double because Intel doesn't have any excess capacity. Because demand is strong, Intel builds a new plant to manufacture chips. The following year, demand for HP laptops is down 5%. Intel can't sell all of the chips from its new plant so it offers HP a 75% discount if they will buy more chips than they have already ordered. This is an example of ______________?

The acceleration principle

The difference between the monetary value of a nation's imports and exports is called __________?

The balance of trade

Two powerful influences on a company's ethical culture are its code of ethics and _____________?

The behavior of people in the company

Which of the following statements about understanding consumer needs is TRUE?

The benefit that an individual consumer receives from a product is in the mind of the consumer.

The actual product, in the layers of the product concept refers to:

The bundle of tangible and intangible attributes we normally think of as the product

Warranties can be either express or implied. An express warranty means that...?

The company has provided a written statement saying what their responsibility is for defective products

In class, we discussed a number of characteristics of the internet. Which of the following is a consequence of the computer-mediated characteristic?

The computer's ability to tailor information to the customers' needs allows you to address multiple constituencies with the same website. / The computer allows a customer to consider a larger number of options while going through the purchase process

The consumer buying process deals with how human beings __________ ?

The consumer buying process deals with all of these

The central layer of the layers of the product concept consists of:

The core benefit that a consumer will get from the product

In order to understand a customer's wants, the marketer must understand ___?

The cultural and social environment in which a customer makes purchasing decisions.

Which of the following statements about the consumer buying process is TRUE?

The customer decides whether he/she is truly satisfied with the product after the decision has been made.

In class, we discussed a number of characteristics of the internet. Which of the following is an issue associated with the user control characteristic?

The customer determines both the direction and the flow of content in the website

One of the main ADVANTAGES of a questionnaire for collecting data is?

The data is easy to tabulate

What do we mean when we speak of a product portfolio?

The different products offered by a company

In a market with producers and six retailers, the addition of a wholesaling middleman can decrease the number of transactions needed to have an efficient market form 24 to 10. This is an example of?

The economy of transactions

The biggest problem with sales promotions is that...?

The effects tend to be short lived

What is the relationship between a SWOT analysis and an environmental scan?

The environmental scan identifies issues that are relevant to the strategic planning process; the SWOT analysis evaluates key issues in terms of the organizations strengths and weaknesses

The supply chain centers on the producer. Downstream activities consist of?

The flow of finished product from the producer to the end user

Which of the following statements about professional buyers is FALSE?

The goal of the professional buyer is get the lowest purchase price

Which of the following is a difference between inside selling and outside selling?

The job may involve extensive travel

What is the relationship between the law of large numbers and market segmentation?

The law of large numbers is an abstract concept that helps us understand why market segmentation works

According to your instructor many strategic plans are not implemented well because...?

The long-term strategic objectives are not translated into specific, actionable tasks to be done by people in the organization

Warranties can be either express or implied. An implied warranty means that...?

The manufacture may be held liable for some problems regardless of whether there is anything in writing or not

Which of the following statements about an organization's mission statement is FALSE?

The mission statement is something that only applies at the corporate level

What do we mean when we speak of the length of a product line

The number of choices within a product category

BruceCo planned to introduce a new line of herbal coffees in its coffee shops. Using the chain ratio method, they estimated they would have 300 people walk through the door every day and that 1/3 of these people would notice a sign advertising the new coffee and ask about it. If the price were the same as its regular coffee, they estimated half of the people would try the new blend. If the price were higher than the regular coffee, they estimated only one out of 10 would request the new blend. The goal was to sell 50 cups of the new blend. Which of the following would be an outcome measure associated with the plan?

The number of cups of the new bled sold each day

What do we mean when we speak of the richness of an information channel?

The number of different information cues the channel can carry

Which of the following is NOT something you should consider when developing market segments?

The number of people in a segment Whether you have used too few variables to develop your segments

BruceCo planned to introduce a new line of herbal coffees in its coffee shops. Using the chain ratio method, they estimated they would have 300 people walk through the door every day and that 1/3 of these people would notice a sign advertising the new coffee and ask about it. If the price were the same as its regular coffee, they estimated half of the people would try the new blend. If the price were higher than the regular coffee, they estimated only one out of 10 would request the new blend. The goal was to sell 50 cups of the new blend. Which of the following would be a process measure associated with the plan?

The number of people who walked through the store each day

In class, we discussed a number of characteristics of the internet. Which of the following is a consequence of the global presence characteristic?

The number of potential customers includes anyone in the world with an internet connection

According to your instructor, how many segments should a company target?

The number that allows you to maximize profit with the resources available to you

What do marketers mean when they speak of involvement as it relates to the consumer buying process?

The personal, social and economic significance of the purchase to the person

Which of the following statements about the product life cycle is true?

The product life cycle deals with aggregate demand over the lifetime of a product

Which of the following buying criteria is a business buyer likely to use and an individual consumer NOT likely to use?

The production capacity of the supplier firm

The difference between a for-profit organization and a not-for-profit organization is...

The purpose of a for-profit organization is to make money for its owners while the primary purpose of a not-for-profit organization is to provide a good or service that has been determined to be in the public interest

When I was a young man (not too long ago) Big Box retailers - very large, free-standing specialty stores were very popular. Today many of these stores such as Toys'R'us and Party Supplies Warehouse, stand empty. This could be explained according to ________ ____?

The retail life cycle

Which theory of retail evolution proposes that new retail concepts emerge, become popular, are widely imitated and then fade away?

The retail life cycle

Which of the following is NOT one of the "rights" included in The Consumer Bill of Rights proposed in the 1960's?

The right to cancel a purchase

According to the material presented in class, which of the following is a selling situation?

The sales clerk in a jewelry store helps a man decide on an appropriate engagement ring

A "rainmaker" is the member of a sales team responsible for developing new customers. Which of the following personality types is most likely to be the rainmaker?

The schmoozer

What was your instructor talking about when he mentioned a "consideration set" during the lecture on the consumer buying process?

The subset of the alternatives identified during the search phase that the consumer evaluates before making a decision.

Which of the following is a major disadvantage of the test-market approach to forecasting?

The time it takes to conduct the test market may put you at a competitive disadvantage in the marketplace.

According to your instructor, how is the stakeholder concept different from the traditional approach to managing a business?

The traditional approach assumes that businesses exist in order to generate profits for their owners while the stakeholder concept recognizes that there are many groups who have needs that must be satisfied in order for a company to achieve long-term success.

Which of the following statements about new product development is TRUE?

The vast majority of new products introduced to the market place fail

Wal-Mart started out as a low-cost, low-status retailer. The company's success was founded on a policy of eliminating cost from retailing and passing the savings along to the consumer. Recently the company has been experimenting with high-end products such as big-screen televisions and fine jewelry. This move could be expected according to ____________?

The wheel of retailing

Which theory of retail evolution proposes that retail stores become successful and upgrade their product lines (and prices) it creates an opportunity for a new, low cost retail form to enter the market?

The wheel of retailing

Which theory of retail evolution proposes that retail stores start out as low-price low-status stores and then gradually move upscale as the business grows?

The wheel of retailing

What do we mean when we speak of ad "clutter"?

There are so many advertisements out there that it is hard for marketers to get people to notice their ad.

The quotation "I know that half of my advertising budget is wasted; but I don't know which half" illustrates the fundamental problem with measuring the effectiveness of promotions. The problem is...?

There is a low correlation between promotion expenditures and sales performance

John Wannamaker is reputed to have said "I know that half of my advertising dollars are wasted, I just don't know which half." This is illustrates a major problem in evaluating advertising effectiveness which is .......?

There is a low correlation between running an advertisement and a change in sales

In class, we discussed a number of characteristics of the internet. Which of the following is an issue associated with the internet culture characteristic?

There is an expectation that customers will find something of value for free when they visit your website

The best way to approach this class is to:

There is no "best" way to approach this class. It is designed so that each student can find the combination of content delivery, test taking, and interaction that meets his or her objectives for taking the class.

Which of these statements about Porter's fundamental strategies is true?

There is only room for one low cost producer in a market

Which of the following is an example of a direct channel of distribution?

These are all direct channels of distribution

Brand equity is the value a brand name adds to a product. This value can be expressed in terms of...?

These are all expressions of the value of brand equity

Which of the following is a form of price?

These are all forms of price

The reason integrated marketing communications campaigns are so powerful is that...?

These are all reason why integrated marketing communications can be so powerful

One of the reasons there is confusion between the marketing plan and the business plan is that...

These are all reasons why there is confusion between the marketing plan and the business plan for an organization

In order to implement a strategic marketing plan, long-range strategic objectives need to be broken down into short-range tactical objectives so that each unit of the organization understands...?

These are all things each unit of the organization needs to understand in order to implement a strategic plan

According to the material presented in class, when it comes time to develop the budget...?

These are all things you need to have in mind when it is time to negotiate a budget

According to your instructor, subcultures can be powerful segmentation variables because people have more choice about the subcultures they choose to identify with. This means...?

They are more likely to seek out products that affirm their membership in the subculture

According to your instructor which of the following is a reason why environmental scans are so important to marketing managers.

They can help you avoid being "blindsided" by unanticipated market factors

Many sales people prefer outside selling because...?

They can make more money

Many sales people prefer inside selling because...?

They don't like to travel

Which of the following is a condition that must be met before you can consider a group of people to be a market segment?

They must be similar to each other, at least with respect to you product. / There must be a way to communicate with them. / They must be different from people who are not in the segment in some meaningful way / The market potential of the group must be large enough to make it economically viable.

Iago and Desdemona were merchants selling a variety of goods in Venice Beach. They felt they had saturated the local market and were thinking of expanding their business to a nearby community. What factors should they consider as they decide which geographic segment to enter next?

They should consider all these factors

In class we discussed a theory of diffusion of a technology with three phases. Which of the following is not one of these phases?

This creates new problems which require new technologies

Which of the following statements about the AIDA model of persuasive communication is TRUE?

This is a sequential process; all persuasive messages have to go through the four stages

Which promotional role might be most appropriate for a product in the decline stage of the product life cycle?

This is a trick question - a company is unlikely to spend money on promotion when a product is in the decline stage

A market product matrix is a planning tool that is useful in...

This is a very useful tool. It can help with all of these things.

BruceCo is a small coffee company. Last week, the Surgeon general of the United States announced that recent studies suggest drinking excessive amounts of coffee might students to be unable to study. Because of this legislation is being introduced to make it illegal to sell coffee to anyone under the age of 25. In terms of a SWOT analysis, this would be considered a (n) ________ for BruceCo?

Threat

Bruce was a salesperson on his first assignment in another country. He had a dinner meeting with a prospective client at 6:00. He made reservations at a local restaurant for 6. At 7:00 the prospect had not appeared for the meeting. Bruce assumed the client had decided not to come and left the restaurant. The next day, he got a phone call from the home office. Apparently the Client had arrived at the restaurant at 7:15 and was angry that Bruce was not there. This is an example of the ____________ dimension of cultural values discussed in class?

Time

Why is it a good idea for a business to group its customers into market segments?

To be able to respond more effectively to the wants of groups of potential buyers

According to the textbook, what is the task of market challengers dealing with low-involvement products?

To break consumers' existing buying habits.

The decision to hold inventory is critical to providing customer service through the supply chain. There are both costs and benefits. Which of these is NOT a benefit of holding inventory?

To create possession utility for producers

Which of the following is NOT a motive for a business customer to purchase a product?

To negotiate a price so low that the supplier actually loses money on each transaction

Many companies are incorporated under one name and use a different, more familiar name when they deal with the public. For example you may be more familiar with ____________ "Kentucky Fried Chicken" than with the corporate holding company Yum! Brands which operates KFC along with other well known restaurant chains?

Trade name

Which of the following is a difference between traditional public relations (PR) and public relations on the internet?

Traditional PR uses a push strategy; Internet PR uses a pull strategy.

Which of the following is a difference between traditional advertising and advertising on the internet?

Traditional advertising agencies charge a commission on the media buy; internet advertising agencies charge a fee for service. / Traditional advertising uses a push strategy; Internet advertising uses a pull strategy.

According to the opening example in the textbook, Rollerblade needed to reach beyond its initial customer base in order to grow sales. They succeeded by repositioning the product from a ____ product to a ____ product. By 1997 this strategy created an industry with 27 million users by 1997?

Training, exercise

BruceCo is a coffee blending company with locations all over the world. What sets BruceCo apart is its unique line of herbal coffee blends. Regardless of which country they are doing business in, consumers seem to respond to the BruceCo Blend. BruceCo is an example of a(n)...?

Transnational firm

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers at her warehouse. She then puts cases of each brand of candy in her delivery trucks so that her drivers can visit her retail customers and resupply their candy racks. Kendra is adding value by ___________?

Transporting

Unlike a storage warehouse, a distribution center is primarily for?

Transshipment of products

In class, we discussed several trends in organizational structure. One of them, the ____ reflects the desire to give employees who interact with customers the authority to solve problems without having to consult with a manager?

Trend toward empowering employees

In class, we discussed several trends in organizational structure. One of them, the _____________ is the result of eliminating middle management positions in order to shorten lines of communication within the organization?

Trend toward flatter organizations

For new products that have a major benefit to the customer, but the benefit is not obvious by casual inspection, ____________ becomes an important factor in whether customers will adopt the new product?

Trialability

Carlina operates an automobile parts manufacturing plant in Chillicothe, Ohio. She has automotive customers in Michigan, Ohio, Tennessee, Georgia and Indiana. Because most of her customers insist on Just In Time inventory management she needs to know exactly when the shipments of her product to the customer will arrive. Carlina uses _________ transportation for this part of her business?

Truck

Which of the following statements about value is TRUE?

Two different customers might have different perceptions of the value of the same product. / Value is the perceived benefit of the product minus the perceived cost of the product.

After the Super Bowl football game, Mark got a phone call from a polling organization. The person on the phone asked Mark which commercials he remembered seeing during the Super Bowl. This is an example of a(n) ___________ test of advertising effectiveness?

Unaided recall

When conducting a global environmental scan, demographic indicators such as ______ are used to assess economic conditions in a country?

Unemployment

When discussing the ethical/legal framework for evaluating marketing decisions in class, it became apparent that the most difficult decisions deal with issues that are _________ and ________?

Unethical, legal

The San Francisco Municipal Railway (MUNI) Charges $1.50 for an adult passenger. Once you have purchased a fare (and taken a transfer as proof of payment) you can ride anywhere on the system for the next 90 minutes. This is an example of __________ geographic pricing.

Uniform delivered price

When marginal revenue is NEGATIVE and prices decrease?

Unit sales increase

For prestige products - products that are consumed socially and confer status on their owners...?

Unit sales of the product can decrease if prices are lowered

In class, we discussed a number of characteristics of the internet. Which of the following is an issue associated with the interactivity characteristic?

Unlike other mass marketing communications media, customers can provide information to the website

You may take each mini test ___________ time(s) during the period it is available.

Unlimited

According to your instructor, what is the hard way to become the category leader?

Use the marketing mix to create a superior product offering in the category and then spend what it takes to communicate the superiority of your product to consumers.

_____________ is an ethical perspective that believes a decision is ethical if the benefits outweigh the cost?

Utilitarianism

A channel of distribution helps to create form, place, time and possession _________?

Utility

_________ is the benefits or value received by users of a product.

Utility

According to your instructor, the first thing to do when a customer asks a difficult question during the sales presentation is to...?

Validate the objection

By definition, Marketing is an organizational function and a set of processes for creating, communicating, and delivering ______________ and for managing customer relationships in ways that benefit the organization and its stakeholders?

Value to customers

________ is the practice of simultaneously increasing product and service benefits while maintaining or decreasing price?

Value-pricing

___________ are a society's deeply held beliefs about the right way to live?

Values

Gandalf opened a tobacco shop in the Haight/Ashbury District. He wanted to create a distinctive brand personality for the store, so he insisted that all of the employees wear purple robes and long, pointed hats while they were on duty so they would all look like wizards to customers. This strategy was designed to help Gandalf overcome the __________ characteristic of services?

Variability (inconsistency)

When you are dealing with the ____________ characteristic of a service, one approach is to institute procedure manuals and training programs so that your service employees will know how they are supposed to deal with customers.

Variability (inconsistency)

____________ are the costs of production that are tied to and vary with the number of units produced?

Variable Costs

BruceCo had decided to run a series of newspaper advertisements to promote its new blend of coffee. The question was whether to run the ad in the San Francisco Chronicle, the San Jose Mercury News or the Oakland Tribune. This is an example of _________ selection in advertising?

Vehicle

Increasingly channel partners are working together to coordinate their efforts in order to increase the efficiency of supply chains and distribution networks. One supply network strategy is for a retailer to share sales information with suppliers so that the suppliers can take responsibility for replenishing the stores inventory without the necessity of placing an order for every shipment.

Vendor managed system

I can't believe it, said Wiley Coyote, I am the president of Acme enterprises and I make $200,000 a year working my tail off. Our manufacturer's representative, the Road Runner, made over $800,000 in commissions. I can't understand why he is making all of that money when all he does is run around all day and say beep-beep to customers. I think we should lower his commission rate to bring his income down to a more reasonable level. This is an example of?

Vertical conflict

The term ___________ refers to professionally managed and centrally coordinated marketing channels.

Vertical marketing systems

BruceCo was planning on introducing a line of premium coffee cups. The cups would sell for $10 which was higher than any other comparable coffee cup. In order to position the product as a prestige good, it was important that it be the most expensive in any store that offered it. In order to carry the coffee cup, a dealers had to sign an agreement that they would not put it on sale or sell it for less than $10. This is an example of?

Vertical price fixing

What is the difference between the supply chain and the value chain?

Very little. The value chain concept simply recognizes that in an efficient network, each member of the supply chain adds value to the product as it moves from raw material to the end user

Which of the following products would be the BEST candidate for distribution over the internet?

Video games

Frodo was a massage therapist. He was very good at dealing with lower back pain. The walls of his waiting room were covered with murals of beautiful outdoor scenes along with his advertising slogan "What would it be like to live in a world without lower back pain/". There was soft, relaxing music playing in the background. He used these same themes in his print and radio advertisements. Frodo was using the ______ approach to making his service seem "real"?

Visualization

One of the ethical issues in marketing is that some market segments, such as children or the elderly, may not fully understand the choices they are being asked to make. What is the proper approach to marketing to these _____?

Vulnerable groups

According to your instructor, which of these technologies do you have to understand to succeed in marketing today?

WWW (World Wide Web)

A _____________ is the statement indicating the liability of the manufacturer for product deficiencies?

Warranty

Carlina operates a tofu making factory in Taiwan. She uses soybeans grown in Northwest Ohio for her tofu because they are very high quality and the prices are low. Soybeans will keep for a very long time without spoiling. Because her main concern is how to get the thousands of bushels of soybeans to her factory for the least cost, Carlina uses _________ transportation for this part of her business?

Water

The one of the major concerns when scheduling advertising is the issue of __________ where advertisements start to lose effectiveness because of repetition?

Wearout

Which of the following is a question that should be answered in the "define the problem" stage of the market research process, well before any money is invested in the project?

What action will we take based on the results of the research

When it comes to managing services, some people find it helpful to think of it as a theatrical production with roles for both the service provider and for the customer. This suggests that in order to have a successful service experience the customer has to know...?

What he or she is expected to do in order to create the service

According to your instructor, what is one of the issues in creating a channel of distribution NOT normally covered in business courses?

What is it about your product that would make it attractive for channel partner to work with you?

According to your instructor, which of the following is a strategic issue relating to personal selling a marketing executive needs to address?

What is the role of the salesforce in the promotional mix?

According to the material presented in class, there are two things you need to know about a number if you are planning on using it as a metric. One of them is...?

What is the trend? Is it good or bad?

Before you can measure the quality of a service, you need to understand..?

What the customer expects from the service

According to your instructor what is it that causes salespeople to be so annoying, especially for postponable purchases such as used cars?

When a salesperson is on 100% commission, they have nothing to lose by trying to convince you to buy the product, even after you have indicated you are not interested.

In class, we discussed a number of characteristics of the internet. Which of the following is a consequence of the interactivity characteristic?

When customers feel that they have control over what happens at the website, they have a more positive attitude

What was your instructor talking about when he said America likes a Winner and gave those ridiculous - I mean interesting - examples about people landing on the moon?

When it comes to positioning, it is better to hold the position of category leader in a smaller category than to be second place on a larger category

The first stage of the consumer buying process is:

Where a consumer realizes that there is something he or she lacks.

According to the information in class, the fundamental issue in geographic pricing tactics is...?

Whether the buyer or the seller pays for the cost of transporting the product to the customer

People have two decisions to make when they use products to solve a problem. One of them is?

Which alternative is best?

Individual family members can play different roles in the decision making process. Which of the following is NOT a role in the family decision process?

Whiner

A _____________ is a person who reports unethical behavior in a company?

Whistle blower

BruceCo is an inventory liquidator. The company identifies other businesses that have huge amounts of unsold inventory and buys it from them at pennies on the dollar. They then try to find another company that can use the inventory and sell it to them at a profit. What makes this business so fun is that you never know from day to day what product you will be dealing in or who might be a prospective customer. Which of these channels would be the best for BruceCo to adopt?

Work with a broker to negotiate deals with any customer who wishes to purchase what BruceCo is trying to liquidate.

BruceCo makes novelty products such as whoopee cushions and plastic vomit. The company sells about $2 million dollars worth of product. The major customers for BruceCo products are small independent novelty shops that will typically order less than $200 worth of product at a time. Which of these distribution channels would be the best for BruceCo to adopt>

Work with a distributor who carries a variety of products sold in novelty shops

It has been said that no two people on an airplane pay the same price for a ticket. Prices tend to be lower if you are willing to book you trip well in advance and tend to be much higher if you have to book your trip on short notice. A non-refundable ticket costs less than a refundable ticket. Airlines use this ___________ in order to maximize the revenue they earn from each flight?

Yield management pricing

Price elasticity is the slope of the demand curve. When price elasticity is HIGH...?

You can increase revenues by cutting prices. / A small change in price will lead to a large change in quantity demanded

The point of discussing the different bases for segmenting markets was...?

You can use any combination of segmentation variables to develop market segments that work for your organization.

One of the disadvantages of bringing a discontinuous innovation to market is...?

You may have to spend a lot of effort helping customers understand the value of the new product.

When setting the product/market focus in the strategic planning process, you need to establish ___________ for each market segment?

You need to establish all of these / The marketing goals

The only way you can "make up" a missed mini test is?

You were physically unable to take the test during the entire two-week period it was available and can prove it with a doctor's excuse or other external documentation.

The Bay Area Regional Transit Authority (BART) operates a light rail system in the bay area. Passengers purchase a ticket with a magnetic strip that keeps track of how much money is on the ticket. The cost for a ride is anywhere from about $3 to about $10 depending on how far you are going. You can go to any of the downtown stops for the same price. BART is using ___________ geographic pricing?

Zone delivered price

When segmenting markets, sometimes companies will develop a 2x2 matrix to help them with the decision. Each cell in a product market matrix represents

a market segment/product offering combination

When we speak of a consumer, we are speaking of...?

a person who buy things for personal consumption

In order to enhance the success of a new product introduction it is important to have a complete product/market definition including all of these things EXCEPT:

a phantom market

According to the material presented in class, a process measure...?

a process measure is all of these things

A channel of distribution always includes?

a producer / a customer

For many products such as candy bars, there is a price consumers expect to pay for the product. Companies using the _____________ to setting prices will use this price as a basis for positioning their products as prestige or value brands?

above or below approach

Yuli is the California regional manager for a suntan lotion company. Currently the company does not have a distributor in San Francisco. Yuli will use the company's marketing information system to decide whether or not to add a distributor in Northern California. This is an example of a(n) ___________ decision?

ad-hoc

The textbook made a distinction between line and staff positions in an organizational chart. Frequently staff positions are indicated by dotted lines in a chart to signal that the staff position ___________ (with) other units, but has no ___________?

advises, ability to issue orders

Unlike a product advertisement, an institutional advertisement may have __________ as an objective?

advocacy

Bruce Co decided to introduce a new blend of coffee in its wildly popular coffee shops. The plan was to introduce the new blend with series of local television ads on evening news because people who watch the news are more likely to be premium coffee drinkers. They followed this up with advertisements in the Monday edition on the local paper for the next two weeks. Finally they would purchase advertising space on the side of bussed and run drive-time radio ads during the four weeks the bus signs were being displayed. This is an example of?

an advertising campaign

Bruce went into an appliance store to purchase a 32" LCD tv for $799 as advertised in the local paper. When he got to the store, he was told that all of the $799 tv's had been sold, but there was a 32" LCD tv available for $899 that he could purchase today. Bruce may have been a victim of?

bait and switch pricing

As a rule, when it comes to choosing between advertising media, the higher the _________, the higher the cost?

bandwidth

One of the ways that attitudes about a product change over time is through ________________ or experiences with the product after it has been purchased.

behavioral learning

The two components of quality are...?

benefits received, consistency

The Foreign Corrupt Practices act of 1977 makes it illegal for U.S. businesses to __________ foreign government officials, even if it is the custom do to so that country?

bribe

The Senseo coffee maker is a machine that makes one cup of coffee at a time from specially prepared 'pods' of coffee. You can get the coffee maker at a very reasonable price. However, you can only get refill pods from the manufacturer and they tend to be expensive. This is an example of...?

captive pricing

Santa Claus is trying to estimate demand for toys this Christmas. He know there will be 3.7 billion children because he monitors birth trends across the world. He knows from experience that 14% will be naughty this year and get coal rather than presents for Christmas. He recently commissioned a research study from Donner + Blitzen associates who found that children stop believing in Santa Clause when they are 5.8 years old. Santa is likely to use the ____________ method to forecast demand for toys?

chain ratio

The _______________ concept recognizes that there are a set of functions that need to happen in order to move a product from the producer to the consumer?

channel flow

One of the techniques used during the _________ stage of the personal selling process is to assume that the customer will place an order and begin to discuss the details of the order?

close

The __________ stage of the personal selling process involves asking for the order?

close

Intel corporation created the Intel Inside campaign to make consumers aware that an important component of any computer is the quality of the microprocessor (computer chip) that makes the machine work. They negotiated with computer manufacturers to include a sticker on the outside of the computer - regardless of the brand - showing that there was an Intel chip inside. This is a classic example of _________?

co-branding

When manufacturers engage in _______________, a form of trade sales promotion, a certain percentage of the retailer's sales goes into a fund that the retailer can use to advertise the manufacturer's product?

co-op advertising

One of the ways that attitudes about a product change over time is through ________________ or observing how others react to the product?

cognitive learning

One of the ironies in brand management is that if you are very successful at creating a branded product so that people start referring to the brand name instead of the product name, you risk losing the right to the brand name. This use of the brand name instead of the product name is called _______________?

common usage

The __________ to setting prices is based on understanding what customers are already paying for similar product in the marketplace?

competition-based approach

The Wheel of Fortune is a game show that has been running on television for a long long time. In order to encourage people to watch the show the producers allow people to go online and create a Spin ID. Sometime during the television show, a spin ID number will be shown on the screen and the person who has that Spin ID will receive the same prize as the contestant on the game show. This is an example of a ___________ sales promotion?

contest

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union looking for a snack. The first thing he saw was ice cream so he bought a big bowl of it. In terms of product classification, ice cream could best be described as a(n) for Bruce?

convenience good

Companies frequently develop new products by combining two different technologies to come up with a product that represents a dynamically continuous innovation. This is known as _____________?

convergence

A ____________ is a retail concept where two or more stores are owned and operated by the same company?

corporate chain

In dealing with logistics there is a fundamental tradeoff between ________ and ________. The goal is to keep one high and the other low, but they tend to increase together.

cost, service

The __________ to setting prices is based on understanding an organization's cost structure and profit requirements?

cost-based approach

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers and repackages it so that a retailer can buy a case of candy bars and have some from every manufacturer in the case. Kendra is adding value by ___________?

creating assortment

In information theory, a ________ is a method of encoding information?

cue

For many products such as candy bars, there is a price consumers expect to pay for the product. Companies using the _____________ to setting prices will use this price for their products?

customary pricing approach

Bruce worked for the Ohio Table pad company. The table pad industry was created in the early 20th century and became very profitable in the post world war II economic boom. In recent years, the number of table pad manufacturers had declined and fewer customers were buying table pads because formal dining rooms were out of fashion and new protective finishes made the need for table pads less obvious to consumers. Table pads were in the ____________ stage of the product life cycle?

decline

When dealing with tangible products, consistency is usually measured in terms of?

defects

In general, the greater the _______ for a product, the higher the price you can charge for the product.

demand

The __________ to setting prices weighs consumer tastes and preferences more heavily than costs and profits.

demand-based approach

Nick is thinking of conducting some market research to help him determine the best colors to use for the cover of his new hip-hop CD to be released in February. He decides that he can invest up to $500 in this research, but he needs to get it done in the next three weeks. Nick is probably in the _______________ stage of the market research process?

develop the research plan

The last stage in developing a marketing plan involves...

establishing the budget and the timetable

Rafael is applying to graduate schools for admission to the MBA program. If he goes part time, it will take four years and cost several thousand dollars. Rafael believes that he needs the advanced degree to get a promotion at his job. Rafael is likely to engage in _________ problem solving as he makes this decision?

extended

A ____________ is a style that has been adopted by a significant number of people for a reasonably long period of time?

fashion

In automating a manufacturing plant, which of these would definitely increase in the short run?

fixed cost

The ____________ stage of the personal selling process involves making sure that any promises made to the customer are kept in order to develop a relationship with the customer.

follow-up

Which of these is NOT a problem in wording survey questions according to the text?

follow-up question

A ________________ is the estimated sales of a product for a defined future period?

forecast

__________ represents the number of times a member of the target audience has seen a specific advertisement?

frequency

______________ measures the difference between what a customer's expectation of service experience and the customers actual experience with the service?

gap analysis

Marketers recognize that people living in one part of the country may have tastes that are different than people in other parts of the country. For example, when traveling in the southern united states, Iced tea is served with the sweetener already in it while in the northern states, iced tea is served unsweetened. These differences are the reason that __________ segmentation can be useful for many products.

geographic

_____________ is a guerilla marketing tactic where a company that is not a sponsor of an event will behave in a way that people might think they are in fact a sponsor of the event?

hijacking

Thomas Friedman wrote a book about the impact of new technologies and other trends impacting the way business is conducted in the world called the world is flat. One of the basic premises is that widespread adoption of internet protocols and the seamless connection of computer systems along the supply chain allowing for the efficient flow of ___________ to help smooth the flow of goods from raw materials to end user

information

In general, you have more flexibility in setting your prices in the _________ stage of the product life cycle than in the _________ stage of the product life cycle?

introductory, maturity

The biggest difference between a merchant wholesaler and an agent or broker is that the Agent or broker...?

is paid commission on what it sells

The biggest disadvantage to introducing a new product that represents a continuous innovation is that?

it is difficult to gain a sustainable competitive advantage with incremental changes

The major advantage of secondary data is that?

it is immediately available

One of the ethical issues in marketing is establishing what is a fair price. Some pharmaceutical companies charge very high prices for life-saving drugs because they need to recover the massive amounts of money needed to bring a new drug to market. While there is no question this practice is __________, there is a question about whether it is ___________?

legal, ethical

Understanding a country's level of economic development can help marketers better understand the needs of the people who live there. Economists describe three levels of economic development. People living in _____________ tend to have low standards of living and little disposable income?

less developed countries

One of the ethical issues in marketing is may be impossible to make a product that is 100% safe. In that case the company has to make a choice between the price of a product and ___________?

liability

Many small businesses choose to segment their customers geographically because they can effectively to communicate with their customers using __________?

local newspapers

For many products such as candy bars, there is a price consumers expect to pay for the product. Retailers using the _____________ to setting prices will offer the product at a very low price in order to attract customers into their store?

loss-leader approach

The __________ environment deals with issues that affect all companies in an industry?

macro

BruceCo is introducing a line of coffee for amateur athletes. They feel that the coffee will have the most appeal for men, aged 25-50, who run three times a week and are likely to participate in one or more races each year. Which advertising medium might be the best way to reach this target audience?

magazine

Younjin is a purchasing agent for Acme enterprises. Currently, the company makes a line of fire-proof file cabinets that are well regarded by its customers. One of her responsibilities is to purchase brochures explaining the benefits of the Acme file cabinets. She recently purchased a computerized document management system for the company at the cost of several million dollars. With this new technology, she may be able to print the brochures in the factory rather than ordering them from a printing company as in the past. Younjin will probably treat this as a _____ decision?

make or buy

The reality television show "Rock Star" featured a group of people trying out to become the lead singer for the rock group INXS. The band already had an image, they just needed to find the right person to be the lead singer for the group. This is an example of the _____________ strategy for packaging people?

market fulfillment

The Boston Consulting Group matrix is a 2x2 matrix with ___________ on one axis and ___________ on the other axis. This creates four positions: cash cows, stars, problem children (or question marks) and dogs

market growth rate, relative market share

A(n) _____________ is a relatively homogeneous group of prospective buyers who are similar to each other in terms of their consumption behavior.

market segment

When segmenting markets, sometimes companies will develop a 2x2 matrix to help them with the decision. You develop a product market matrix by plotting _________ on one axis and __________ on the other axis?

market segments, product offerings

By definition, _____________ is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders?

marketing

The term _____________ describes how industries that were once growth industries became stagnant because managers in that industry relied on a narrow definition of their business and failed to change when technology or customer tastes changed?

marketing myopia

The thing that distinguishes advertising from personal selling is that advertising communications are?

mass communications

According to your text, and your instructor, which of the following pricing objectives is commonly used by publicly traded American firms?

maximizing current profit

A ___________ is the criteria against which progress toward a goal is measured?

metric

A ____________ is a formal statement of an organization's scope, often identifying its customers, markets, products, technology, and values.

mission statement

Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is copier paper for the company's copiers. The company makes lots and lots of copies so they use more than 60 cases of copier paper each week. Recently, one of her colleagues, Bruce has been complaining that the copiers are jamming a lot. She thinks it might be because the paper is the wrong kind for the companies copiers. Also, the chairman of the board made a speech to all of the employees stating that the company is going to become environmentally sensitive and there will be bonuses for people who can improve the companies environmental record. Younjin had heard that some recycled paper is as good or better than standard copier paper. She decides to re-think where she is buying her copier paper. Younjin will probably treat copier paper as a ______ decision?

modified rebuy

_____________ is an ethical perspective that believes the motive behind a behavior is more significant than the outcome of the behavior?

moral idealism

When a foreigner violates a culture's _________ the reaction is much stronger because they may have a moral basis.

mores

Perla is trying to decide which of two plasma television sets she should purchase. One is more expensive than the other, but it has better resolution. Sound quality is the same on both television sets. They both come with remote controls, but Perla rarely uses a remote control so it is not a factor in her decision. Perla is using __________ to make the decision?

multiple criteria

Many airlines advertise low prices on the internet. When you actually book the ticket, you may find that there are destination charges, service, fees and other costs that significantly increase the cost of the ticket. The airlines use this _________ tactic to make their prices appear to be lower to customers who are comparing prices.

multiple price

Many television infomercials advertise a product at a very low price. After you order the product, you find there is a fairly substantial shipping and handling charge. When you figure in the extra charges, the product may be more expensive than other, similar products that you were considering. This is an example of a ________tactic?

multiple price

_____________ is when a business uses one brand name to cover a variety of products?

multiproduct branding

In class we talked about how merchandise assortments can be described in terms of breadth and depth. How would you classify a kiosk at the mall that sells Cingular cellular phones?

narrow and shallow

Sergio is the head designer for "Robertson House" a high-fashion clothing company. Each year, Sergio completely changes the colors of the clothes he designs so that it will be obvious to anyone who has fashion sense that last years colors are out of date. This "planned obsolescence" tends to affect consumers at the _____stage of the consumer buying process?

need recognition

Younjin is a purchasing agent for Acme Enterprises. She is responsible for the company's copiers. The company makes lots and lots of copies so they spend more than $10 million on copies each year. Younjin is considering replacing all of the company's copiers with a networked solution that digitizes all documents and prints them on demand at designated workstations. This system will have to be custom designed for the company and will cost several million dollars. Younjin will probably treat this as a __________ decision?

new task buy

Marketers of ____and ____ products have to use intrusive advertising in order to make consumers aware of them at the appropriate point in the consumer buying process?

new, unsought

One of the advantages of ________ as an advertising medium is that it is a relatively inexpensive way to reach local markets with time-sensitive ads?

newspaper

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union and bought a big bowl of ice cream. In terms of product classification, ice cream could best be described as a(n) for Bruce?

non-durable good

In many market situations, such as an oligopoly or monopolistic competition, there is a very strong expectation of what the price for a product should be. In these situations, many businesses engage in ____________ by using advertising, free-product offers or bonus packaging to differentiate their product

non-price pricing

Experience has shown that customers perceive a price of $99.99 to be significantly lower than a price of $100. The pricing strategy that takes advantage of this phenomenon is called

odd-even pricing

The Myers-Briggs personality inventory is one typology discussed in class. Which of the following is NOT one of the dimensions of the Myers Brigs personality inventory?

optimist-pessimist

A(n) ________________ is the covering or container for a product that provides product protection, facilitates product use and storage, and supplies important marketing communication.

package

Nintendo chose a ___________ approach to pricing the new Nintendo DS because they felt the market for this product is price sensitive, there are major economies of scale to be achieved, and both Sega and Microsoft would be introducing new game systems shortly?

penetration

The ____________ approach to new product pricing sets prices low in order to gain market share and discourage competitors from entering the market?

penetration

The product market growth matrix suggests four strategies based on customers and products. Which of the following is the least risky of the basic strategies suggested by this approach?

penetration

The introductory stage pricing strategy that attempts to gain as much market share as possible, even though it may mean more time before the product becomes profitable is called...?

penetration pricing

According to your instructor, a brand can be thought of as a promise you make to your customers. In order for the brand to be successful, the promise must be _________?

perceived as valuable to your customers/kept

A ______________ is a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands relative to its own and then take marketing action?

perceptual map

Which of the following is NOT a situational influence on the consumer buying process?

personality

One of the ways personality is useful to marketers is to identify key ___________, or enduring characteristics such as innovativeness, self-confidence, sociability, which will vary from person to person.

personality traits

Carlina operates an oil refinery in Houston Texas. She gets her crude oil from the largest oilfield in Texas. Because the product is more or less fluid and because she knows exactly where the raw material is coming from and where it has to go, Carlina uses _________ transportation for this part of her business?

pipeline

During the ________ stage of the personal selling process, it is important to learn as much about the customer as time and money allow you to do?

pre approach

The Mckay 66 is a list of questions every salesperson at the Mckay envelope company was expected to know about his or her customers. Obviously the ____ stage of the personal selling process is important at this company?

pre-approach

Manny opened a coffee shop right across the street from a Barstucks coffee shop. Manny had studied the market and he knew that it cost Barstucks, a national chain, $1.40 to make a cup of coffee he that sold for $2.50. He could make the same cup of coffee for $1.10 and could sell it profitably for $2.25. The day he opened his shop, the Barstucks across the street offered a 99cent cup of coffee special. No customers came to Manny's store and he had to close. The day he closed his store, the Barstucks 99 cent special ended. This was probably?

predatory pricing

Which of the following statements about the relationship between price and cost is FALSE?

price has to be higher than total cost

Mordred had been sued by a former business partner. The partner was seeking $1,000,000 in damages. Mordred felt that this claim was totally unfair. He went to the law firm of Merlin, Guinevere, and Arthur, LLC. He was told that a junior associate could handle his case for $300 and hour or a senior partner could handle the case for $700 and hour. When he asked why there was such a difference in the rates, he was told that the senior partners were in such high demand that they were trying to discourage new clients. This is an example of _____________?

price rationing

One of the ethical issues in marketing is that data mining techniques where information from several databases is combined may be a violation of a customer's ________?

privacy

A _________ is a good, service or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other form of value?

product

BruceCo is a coffee shop selling custom-brewed coffee to walk-in customers. In order to boost sales, Bruce started selling CD's of the music played in the store. This is an example of the ______growth strategy?

product development

Neil Patrick Harris played Doogie Howser, M.D. on television in the 1990's. In this show he played a child genius who was cute. After the show went off the air, he had trouble finding new roles because everybody thought of him as the cute adorable child he played on TV. So he accepted a role in the comedy movie "Harold & Kumar go to White castle." In this movie, he played himself as a drunken, womanizing, has-been actor taking advantage of his squeaky clean image as Doogie Howser. He did this so that producers could see him as something other than a squeaky clean child and give him roles on other kinds of movies. This is an example of the _________________ strategy for packaging people?

product improvement

Angela has finished reviewing her company's snack products sales data for the past quarter. She observed that lollipops and sno-cones are selling at a higher rate than anticipated, probably because the demand for lollipops and sno-cones is increasing. She also notices that sales of lo-carb candy bars are well below what was expected in spite of a major advertising campaign. She is thinking of phasing out the lo-carb candy bars and replacing them with organic chocolate bars. The company doesn't currently sell organic candy bars, but it industry data suggests more customers are demanding them. Angela is reviewing her company's ______________?

product portfolio

Each of the individual ____________ in a product line are frequently assigned a unique SKU number.

product units

According to your instructor, in addition to the legal and ethical dimensions of a decision, whether or not a proposed action is ___________ will have an impact on the outcome of the decision?

profitable

In order for a firm to have an increase in sales as a pricing objective, it is assumed that the firm has?

profits

BruceCo is planning to introduce a new line of blended coffee for amateur athletes. In addition to running newspaper advertisements, BruceCo wrote a press release describing the new product and its benefits. The press release was sent to local newspapers television stations. This is an example of using _____________ to promote a product?

public relations

According to the textbook, product rating agencies such as Consumer Reports, government agencies and television "consumer" programs are examples of:

public sources of information

Which of the following IS a probability sample?

random sample

Roxanne has completed her positioning analysis and believes she understands why her adult milk beverage has been performing so badly. Her product was the first product to use aseptic packaging, which allows milk to be stored at room temperature for long periods of time. Introduced in 1999, the product was positioned as a survival food because everybody was worrying about Y2K problems at the turn of the century. Today people are more concerned about nutrition and her aseptic milk is very low in fat. To take advantage of this, she changes her advertising slogan from "It will keep you alive in the next century" to "A healthy beverage, ready and waiting". Roxanne is trying to...?

reposition her product against itself

Roxanne has completed her positioning analysis and now understands why her line of adult milk beverages has been performing so badly. There are too many competitors out there and she hasn't been able to gain market share from the category leader - Bruce's Power Gulp, a vitamin enhanced milk beverage. She believes there are people out there who would prefer a less-processed product at a lower price. She decides to change her advertising slogan to "The Fresh Alternative to enhanced milk beverages". Roxanne is trying to...?

reposition her product against the competition

Tracy is thinking of marketing a new energy drink. Her target market will be parents of young children who need an energy boost in the car while driving from dance lessons to soccer games. She plans on testing whether or not people will like her new energy drink by offering free samples to students outside of the student union. If the majority of students say they like her product, she will go ahead with the product launch. Tracy may have a problem with the ___________ of her findings in this market research project.

representativeness

The product life cycle consists of two curves which show the expected _________ and ________ of a product over time.

sales, profits

Many retail stores use "secret shoppers," people who pretend to be customers, go into a store and do all sorts of things. They take notes and are able to report back what is really happening in the stores. This technique is used for _________?

secret shoppers are used for all of these things

Thomasville furniture decided to reduce the number of dealers carrying its line fine furniture. Stores who wished to carry Thomasville were required to dedicate at least 10,000 square feet in their store for a Thomasville gallery. This meant that only the larger dealers in a given market would be able to carry Thomasville. This is an example of?

selective

Sameer does not smoke. Every day he walks past a billboard advertising Camel cigarettes. In class, the instructor was talking about how much cigarette advertising is around us and described the billboard advertising Camel cigarettes as an example. Sameer was surprised by this. He had walked by the billboard every day, yet he had never noticed that it was an advertisement for cigarettes. This is an example of _____________?

selective attention

A ____________ is an intangible activity or benefit that an organization provides to consumers in exchange for money or something else of value?

service

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union looking for a snack. He noticed that he could buy ice cream for $3 including tip. He thought that he could save a lot of money if he had a refrigerator in his office. They are sort of expensive and take up space so he would probably have to do some looking. He went online and found a number of small refrigerators. Armed with the information about what should be available and what a good price would be, he stopped at three appliance stores before selecting a refrigerator for his office. In terms of product classification, a refrigerator is a(n) for Bruce?

shopping good/durable good

The ____________ approach to new product pricing sets prices high in order to recover development costs more quickly?

skimming

When new product managers speak of market attractiveness they mean all of these things EXCEPT:

small market niche

Many large retail stores use ____________ because it would be impractical to calculate the correct price for thousands of items individually?

standard markup pricing

Many grocery stores place frequently purchased staples such as milk or bread at the back of the store. This way, customers will have to wander through the store in order to find the milk. On the way, they may see other products that they will purchase. This is an example of using _____________?

store design

Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is the copier paper for the company's copiers. The company makes lots and lots of copies so they use more than 60 cases of copier paper each week. Younjin will probably treat copier paper as a ____________ decision?

straight rebuy

_______________ involves objectives and initiatives that will take more than a year to accomplish and, if successful, will create a sustainable competitive advantage?

strategic planning

__________________ is a process that matches an organization's resources and capabilities to its market opportunities for long-term growth and survival?

strategic planning

A ___________ is a distinctive manner of dress or presentation?

style

The biggest difference between a merchant wholesaler and an agent or broker is that the wholesaler...?

takes ownership of the products it carries

Roxanne has developed a new adult milk beverage that is enhanced with vitamins. There has never been a product like this before and she is wondering how many cases she should manufacture in the first year of production. Roxanne is likely to use the ____________ method to forecast demand.

test market

What do we mean when we say that, from the consumer perspective, new products span a continuum from small, incremental changes to radically different products?

that "newness" is hard to define and new could mean different things for different products

The augmented product on the layers of the product concept refers to?

the actual product along with other features such as a service guarantee and cool packaging that enhance the value of the core benefit delivered to the customer

Raul purchased a microwave oven. He brought it home, plugged it in and nothing happened. Bummer. So he immediately returned it. The customer service representative was unwilling to let Raul return the microwave saying that they did not allow returns on electronic merchandise. Raul pointed out that even though there is nothing in writing, __________ means that if the microwave doesn't work he can return it. Period. End of story?

the implied warranty of merchantability

When we say a measure is __________ we mean that results can be determined soon enough to use the feedback in improving performance?

timely

The decision to hold inventory is critical to providing customer service through the supply chain. There are both costs and benefits. Which of these is NOT a cost of holding inventory?

to save on capital expenditures

One way to segment markets for business customers is by industry type. This approach is attractive because many industries have __________ which makes it cost effective to communicate with businesses in that Industry?

trade publications

A ______________ is a brand name or a service mark that has been granted legal protection by the U.S. government.

trademark

Your textbook describes three alternative outcomes or responses for direct marketing. When the direct offer is an incentive for you to visit a business, the desired response is probably?

traffic generation

Santa Claus is trying to forecast demand for coal this Christmas. For the past 300 years, the number of naughty children (who will get coal in their stockings) has increased by 3% each year. Santa is likely to use the ____________ method to forecast demand.

trend analysis

The ____________ approach to new product pricing sets prices low for a while in order to encourage people to try the product and then raise the price once the new product gained traction in the marketplace?

trial pricing

You have __________to take each mini test?

two weeks

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union looking for a snack. On his way he noticed someone had set up a table with information on cellular phones. As he tried to walk past the table, a salesperson stopped him and asked him if he would like to buy a cell phone for a very low introductory rate. In terms of product classification, a cell phone could best be described as a(n) for bruce?

unsought product

Bruce is very frustrated. He trying to make copies of a handout for his 9:30 principles of marketing class and the copier is jammed. The copier is always jammed. He has complained to the purchasing agent several times, asking them to get a copier that works. Bruce is performing the role of _________?

user

Which of the following is NOT a factor a business customer is likely to consider when making the decision to purchase an industrial product?

visa or mastercard

Which of the following forms of promotion is he most influential?

word of mouth

According to your instructor, if you can't live with the consequences of your ___________ scenario, don't implement the plan?

worst case

When developing contingency plans, the ___ scenario assumes that everything that could go either right or wrong goes wrong?

worst case

Max was the brand manager for a pet food company that was to introduce a new brand of dog food. Through research, they had discovered that many dogs do not get enough exercise and this new dog food had stimulants added to give these sedate dogs energy. He thought of the brand name "Playful Puppy" and asked your opinion. You said...?

you said all of these things, and meant them

Which of the following is an example of a product?

All of these are products.

Which of the following is NOT a source of information for a typical Marketing Information System?

All of these are sources of information for a typical marketing information system. // computer system

What was the professor talking about when he asked you to do a "reality check" before the 4th week drop-add deadline.

All of these things

According to the instructor, which of the following was a major trend driving the evolution of marketing?

All of these were major trends driving the evolution of marketing

What do we mean when speak of an organization's stakeholders?

Any individual or organization that is affected by what the company does and how well it performs.

According to the textbook, financial pressures have caused ____________ to embark on creative marketing activities in order to attract visitors and generate revenue?

Art Museums

Doc Robertson Designs is a high end fashion boutique for professional men. As part of their data mining program, they identified customers who had spent more than $1,000 on merchandise in the past and who had not made a purchase in the past 18 months. These customers were invited to an invitation-only sales event where they could purchase anything in the store for 35% off. This is an example of using data mining for _________?

Customer retention

According to your instructor, one of the things that makes the concept of value interesting to marketers is that:

Customers do not always perceive all the costs or all of the benefits associated with a product

Niles is the marketing manager for Hang Five, a manufacturer of half-price surfboards. He just learned that the largest supplier of surfboard blanks has just declared bankruptcy and that in 30 days the supplier would no longer be able to provide surfboard blanks for Hang Five. Niles is likely to rely on the ___________ feature of the company's marketing information system to help solve this problem?

Decision support system

Jiwon is thinking of developing a candy specifically for college students. Before she begins manufacturing, she has decided to conduct some research to determine whether or not she should include caffeine in the candy. If the results show students prefer caffeine, she will market it as a caffeine product. If the results show students don't care about caffeine, she will market it as an energy product. Jiwon is probably in the __________ stage of the market research process?

Define the problem

What point was your instructor make by describing the evolution of marketing?

Different countries/industries may be at different stages of development.

Sometimes technology can make it difficult to create organizational intelligence. For example?

Different departments may have different databases that are independent of each other

One of the main DISADVANTAGES of interactive data collection is?

Different interviewers may be inconsistent in how they ask the questions

Many students are confused by the structure of this class. Attendance is optional and you may take the tests whenever you want during the two-week window. A common mistake is to assume that because the class is convenient, it must be __________ and you can take __________. This is not usually true.

Easy, shortcuts

Yuli is the California regional manager for a suntan lotion company. Each morning a routine report identifies cities whose sales are 15% below projection for the previous day. This ____________ report allows Yuli to focus on stores that may need personal attention

Exception

Every time Jiwon goes to the candy counter at the bookstore, they never have exactly what she wants and she believes that there is an opportunity to develop a candy specifically for college students. Because she is not sure what features college students look for in candy, she should conduct __________ research to better understand how college students feel about candy?

Exploratory

According to your instructor, principles of marketing - understanding the needs of the customer and developing need-satisfying offerings can help you in your life not just in your business. For example, you could consider _________________ as a marketing situation where you are the product.

Finding a life partner / Finding a new job

Adam had an idea for a new i-pod accessory. He showed his idea to ten of his friends. Three of them loved the idea, four of them thought it was OK, but nothing special and three of them hated the idea. If he develops the product, he will need to sell at least 10,000 in order to make money. He was wondering whether or not to develop the product when he remembered the law of large numbers from Professor Robertson's marketing class. Based on that, he decided to __________?

Modify the product so that seven or more of his friends like it and nobody hates it before introducing it to the market. This way there will be a larger group of potential customers for the product.

The two phases of developing marketing programs are?

Planning and implementation

Huyen wanted to answer the research question "what causes students to be unhappy with Marketing 431". Because nobody had done any research even remotely related to this particular question, Huyen needed to collect __________ data?

Primary

Which of the following is one of the three typical uses for information in a marketing information system as described in class?

To generate routine reports showing progress toward meeting marketing goals // To support ad-hoc or one of a kind decisions // To generate routine reports showing progress toward meeting marketing goals

One of the major issues in designing computer systems to support a marketing information system discussed in class is?

Who has permission to enter and/or edit information in the database?

One of the major issues to consider when designing the computer systems to support a marketing information system is?

Will decision makers need to be able to manipulate the data?

Tracy is thinking of marketing a new energy drink. Her key selling proposition will be that her product has tastes just as good at room temperature as it does when it is ice cold. She plans on testing whether or not students will like her new energy drink by showing pictures of her drink and the other leading brands to students outside the student union. If the majority of students prefer the picture of her product, she will go ahead with the product launch. Tracy may have a problem with the ___________ of her measurement in this market research project.

validity