Marketing test 3 chapter study guides 9,10,11,14
What is a primary difference between an industrial distributor and a manufacturers' agent?
A manufacturers' agent does not acquire title nor usually take possession of the products whereas an industrial distributor does.
Which of the following characteristics distinguish online media from traditional marketing?
Adressability, Interactivity, Accesability, Connectivity, and Control
____ involves consumers' ability to be connected with marketers along with other consumers.
Connectivity
Which of the following types of distribution allow distribution and consumption to occur at the same time?
Digital distribution
A commonly used computerized means of integrating order processing with production, inventory, accounting, and transportation is
Electronic Data Interchange
Which of the following regulates and makes rules for privacy, fraud, and misappropriation of copyrighted intellectual property, as well as other illicit internet activities?
Federal Trade Commission
A special form of licensing in which one company grants another company the right to market its product and name in accordance with its standards in exchange for a financial commitment is called
Franchising
Order processing, inventory management, materials handling, warehousing, and transportation are the activities that define
Logistics
The trade alliance that includes Brazil, Argentina, Chile, and other countries is known as
Mercosur
The agreement between the United States, Canada, and Mexico that merges these three countries into one marketplace is called
NAFTA
The practice of contracting with an organization to perform some or all business functions in a country other than the country in which the product will be sold is known as
Offshore outsourcing
What are the three primary tasks of order processing?
Order handling, order entry, order delivery
Another name for the European Union is
The common market
Multichannel distribution is characterized as
The use of a variety of marketing channels to ensure maximum distribution
A company not involved in manufacturing that links buyers and sellers in different countries is usually referred to as a
Trading company
If a newly formed country wanted to increase its international trade and reduce worldwide tariffs, it would most likely try to become a part of
WTO
A product line is defined as
a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations.
Marketers' ability to obtain digital information is referred to as
accessibility
The ability of a marketer to identify customers before they make a purchase is called
addressability
The supply chain includes
all entities that facilitate product distribution
A product mix is best described as
all products offered by a firm
The gross domestic product is
an overall measure of a nation's economic standing.
According to the text, a product is defined as
anything the customer receives in an exchange
Smartphones contain ____ that help consumers access more information about businesses.
applications
The ____ is the difference in value between a nation's exports and its imports.
balance of trade
____ are web-based journals in which writers can editorialize and interact with other internet users.
blogs
According to your text, ____ are small technology-based firms operating in international markets almost immediately after their establishment and realizing as much as 70% of their sales outside the domestic home market.
born globals
The role of an export agent is to
bring buyers and sellers from different countries together and collect a commission for arranging sales.
A public warehouse is a
business that leases storage space and related facilities for distribution to other firms.
A single leader who controls and organizes a marketing channel is called a
channel captain
When one company in a marketing channel has the ability to influence another member's goal achievement, the company has
channel power
When a product tries to capitalize on the brand equity of two separate brands, marketers are using
co-branding
A distinguishing factor between a brand name and a brand mark is that a brand name
consists of words
Which of the following describes a company hiring a foreign firm to produce a designated volume of its product to specification?
contract manufacturing
____ refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information.
control
One of the most important benefits of e-marketing is the ability of marketers and
customers to share information
A goal of logistics is to reduce ____ or how long it takes to complete a process.
cycle time
When influencers fail to disclose a connection to a brand they promote, they may be charged with
deceptive advertising
The stage of the product life cycle when marketers consider eliminating products that are not contributing to profitability or the overall effectiveness of a product mix is the ____ stage.
decline
____ uses the internet, mobile, and interactive channels to develop communication and exchanges with customers.
digital marketing
Electronic media that function using digital codes are called
digital media
A marketing channel is defined as a group of individuals and organizations that
directs the flow of products from producers to customers.
Which of the following refers to the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing?
electronic marketing
The value, measured in either marketing or financial terms, associated with a brand's strength in a market is referred to as brand
equity
Most European countries use a common currency, the
euro
Government restrictions on the amount of a particular country's currency that can be bought or sold are known as
exchange controls
Organizations that employ standardized products, promotion campaigns, and prices for all markets are practicing what is known as
globalization
Aggressive pricing is typical during the ____ stage of the product life cycle.
growth
In which stage of the product life cycle do profits begin to decrease?
growth
Packaging that is designed to flow through the distribution channel easily is called ____ packaging.
handling-improved
A(n) ____ is a concept, philosophy, or image.
idea
When products are introduced into one nation from another, acceptance is far more likely
if there are similarities between the two cultures.
Which of the following is often used to raise revenue for a country and/or to protect domestic products?
import tariff
The purchase of products from a foreign source is called
importing
Traditionally, most firms entered international markets
incrementally
Labeling is important for three specific reasons, including promotional and legal reasons. What is the third reason?
informational
The three levels of brand loyalty from strongest to weakest are
insistence, preference, recognition
____ allows customers to express their needs and wants directly to a company in response to its marketing communications.
interactivity
The four major stages of a product life cycle include
introduction, growth, maturity, decline
Vertical channel integration
is made possible by purchasing the operations of a channel member
A business partnership between a domestic firm and a foreign firm is known as
joint venture
In marketing, family packaging means
making all of a company's or product line's packaging look similar.
A ____ brand usually requires a producer to become involved in distribution, promotion, and pricing decisions.
manufacturer
What links producers to consumers through the purchase and reselling of products or contractual agreements?
marketing intermediaries
Which of the following is the physical handling of tangible goods, supplies, and resources?
materials handling
Sales usually start to decline during the ____ stage of the product life cycle.
maturity
Freight transportation companies that offer several different shipment methods are called
megacarriers
Many companies use more than one marketing channel to distribute their products to the same target market, a tactic called
multichannel distribution
Firms that have operations or subsidiaries located in many countries are referred to as
multinational enterprises
____ includes any attempt to intentionally conduct dishonest activities online.
online fraud
If a firm decides to contract its logistics functions to third parties that have no managerial authority within the marketing channel, it is using
outsourcing
Marketing channels create four types of utility for consumers including
place, time, possession, and form.
____ are audio or video files that can be downloaded from the internet with a subscription that automatically delivers new content to listening devices or personal computers.
podcasts
Special interest groups and regulatory bodies are ____ forces that must be taken into account in international marketing.
political and legal
____ relates to perceptions of value and is the most flexible element of the marketing mix.
pricing
Products used directly in the production of a final product but that are not easily identifiable are categorized as
process materials
Maquiladoras are
production facilities in north-central Mexican states.
The term dumping refers to the sale of
products sold in foreign countries at unfairly low prices
The internet can be referred to as a ____ medium because users determine which websites they are going to view.
pull
Minerals, chemicals, timber, and agricultural products are considered
raw materials
Convenience products are
relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort
A specialty product
requires purchase planning, and the buyer will usually not accept substitutes.
Using only some of the available outlets to distribute a product is called
selective distribution
Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.
shopping
Sometimes business partnerships are formed between traditional rivals competing for market share in the same product class. These partnerships are known as
strategic alliances
The coordination of all the activities involved with the flow and transformation of supplies, products, and information throughout the supply chain to the ultimate consumer is called
supply chain management
A trademark signifies
that the owner has exclusive use of a brand and others are prohibited from using it.
Which of the following best defines the interest stage in the product adoption process?
the buyer seeks information and is receptive to learning about the product
Possession utility is best described as
the customer having access to the product to use now or store and use later.
Order processing is defined as
the receipt and transmission of sales order information
Physical distribution activities may be performed by a producer, wholesaler, retailer or
they may be outsourced.
One of the biggest mistakes a marketer can make when engaging in digital marketing is to
to treat it like a traditional marketing channel
The full and legal name of an organization is called the
trade name
____ adds time and place utility to a product by moving it from where it is made to where it is purchased and used.
transportation
A ____ is a type of software that creates an interface that enables users to add or edit the content of some types of websites.
wiki