mkt 300 exam 2 set

In the case that a preferred brand is not available, which of the following consumer product types will a shopper be most likely to choose a substitute brand?

Convenience

Which of the following is NOT one of the factors that affect service quality?

Corporate performance

Sales fall rapidly during which of the following?

Decline stage

Free samples can help move consumers into which of the following?

Trial

Which of the following are purchased when a sudden problem must be solved, products of which customers are unaware of until they see them in a store or online, and products that people do not plan on purchasing?

Unsought products

Which of the following is responsible for all aspects of developing a product: research and development, production and engineering, finance and accounting, and marketing?

Venture team

Logitech was founded with the knowledge and resources to accelerate its participation and investment in the global marketplace; it was able to export products soon after being established in market niches in which it competed with long-established firms. This is an example of a(n) _______.

born global

If Impossible Foods can convert meat eaters into buyers who will accept no substitute for Impossible Burgers and who will spend considerable time and effort to acquire the Impossible Burger, then the company will have achieved _______.

brand insistence

The Double-A of American Airlines, the peacock of NBC, and the apple with a missing bite of Apple are examples of a _______.

brand mark

When large corporations like McDonald's evaluate digital payment systems for potential use and purchase, the buying decision process will usually be made by _______.

buying centers

The Red Cross raises funds to help people recover after fires, tornados, and other disasters. For the Red Cross, the victims of these disasters represent _______.

client publics

Customers usually have two levels of service expectations: _______ and _______.

desired; acceptable

The development of a product that is closely related to one or more products in the existing product line, but designed specifically to meet somewhat different customer needs is best described as a(n) _______.

line extension

Which of the following represents the most people?

Asia-Pacific Economic Cooperation (APEC)

Buyers recognize the existence of a new product during which of the following stages of the product adoption process?

Awareness

Online marketplaces where buyers and sellers can exchange information, goods, services, ideas, and payments are best described as _______.

B2B e-commerce sites

Which of the following is the strongest and most desired by marketers?

Brand insistence

Any attempt to conduct dishonest activities online would be described as _______.

online fraud

One of the most significant privacy issues relates to marketers' use of _______.

personal information

Which of the following is NOT one of the ways that business transactions differ from consumer transactions?

Orders by businesses are frequently small and inexpensive.

Which of the following is contracting of noncore operations or jobs from internal production within a business to an external entity that specializes in that operation?

Outsourcing

Which of the following is used by retailers or wholesalers to develop more efficient promotion, generate higher gross margins, and change store image?

Private distributor brands

Gorton's Seafood buys large amounts of fish to use in its frozen dinners and dinner components. Gorton's Seafood belongs in which of the following business markets?

Producer Market

During which phase of the new product development process is a new product idea turned into a prototype or working model?

Product development

Commodities and raw materials are typically purchased using which method of business buying?

Description

Retailers that choose to adopt Apple Pay's digital payment service are likely to use which of the following methods of business buying?

Description

Which of the following identifies old technologies that can be exploited in new ways or develops new business models to give customers more than they've come to expect from current products in a specific market?

Disruptive innovation

Which of the following deletion strategies makes no attempt to give a declining product a new life?

Phase-out

ACME Corp. is using all digital media, including the internet and mobile and interactive channels, to develop communication and exchanges with customers. This is best described as _______.

digital marketing

Nonprofit decisions that relate to how ideas and services will be made available to clients relate to _______.

distribution

The "bricks-and-clicks" model involves maintaining _______.

physical stores and an online shopping site

The decisions and activities intended to create and maintain a certain concept of the firm's product, relative to competitive brands, in customers' minds are best described as _______.

positioning

To estimate the purchase potential of business customers, a marketer must find a relationship between a variable available in industrial classification data, such as number of employees, and the size of _______.

potential customers' purchases

Walmart developed an infrastructure for its supply chain called SupplierLink that it placed on the Internet. SupplierLink combines information on purchasing, inventory, negotiating, and more. It also allows its suppliers to get information on inventory levels and sales from different Walmart stores. This is an example of a(n) ____________________. A

private B2B exchange

Huy Fong Foods is buying peppers and vinegar to make its iconic Sriracha sauce. For Huy Fong Foods, these are best described as _______.

process materials

Kimberly-Clark is in the process of eliminating products from the product mix because it no longer satisfies a sufficient number of customers. This is best described as _______.

product deletion

Any product making a nutritional claim must have _______.

standardized nutrition labeling

The world's first service economy was _______.

the United States

A product modification differs from a line extension in that _______.

the original product does not remain in the line

ACME Corp. is going through the new product development process and is selecting ideas with the greatest potential for development for further review. ACME is in which phase of the new product development process?

. Screening

Which of the following are viewed as "in the know" by many product adopters?

Early adopters

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 use of bribes, which are illegal for U.S. companies, relate best to which of the following?

Ethical and social responsibility forces

Which of the following has its own currency?

European Union (EU)

Page visits, reach, and CPM (cost per thousand exposures) are all examples of what type of social media metric?

Exposure

ACME Corp. has decided that all of its products' packages should be similar. ACME is using which of the following?

Family packaging

Which of the following alters a product's versatility, effectiveness, convenience, or safety?

Functional modification

Which of the following involves developing marketing strategies as though the entire world (or its major regions) were a single entity?

Globalization

Which of the following markets may have complex buying procedures due in part to their public accountability?

Government Market

Which of the following is the market value of a nation's total output of goods and services for a given period in relation to its population?

Gross domestic product per capita

During which of the product life cycle stages do sales rise rapidly?

Growth

When a product's performance characteristics are at least equal to those of competitive brands and it is priced lower, which of the following is appropriate?

Head-to-head positioning

Which of the following raises the price of foreign goods?

Import tariff

Traveler's Insurance uses an umbrella in its name to symbolize protection. Such symbols provide cues to overcome which aspect of a service?

Intangibility

Which of the following is NOT true about digital marketing as a new distribution channel?

It increases inefficiencies throughout the marketing channel.

Which of the following are often a political necessity because of nationalism and government restrictions on foreign ownership?

Joint ventures

Before creating a social media advertising campaign, Sarah embeds quantitative and qualitative metrics at the onset of her strategy that can allow almost real-time measurement and evaluation. What are these metrics called?

Key Performance Indicators (KPIs)

Which of the following is closely related to packaging and is used to identify, promote, inform, and address legal requirements?

Labeling

Which of the following companies would be most likely to target government markets?

Lockheed Martin

Which of the following is NOT a means of repositioning a product?

Maintaining the product's marketing mix

Which of the following is responsible for managing the marketing activities that serve a particular group of customers?

Market manager

Which of the following is characterized by intense competition?

Maturity

Which of the following is NOT one of the five opportunities for creating value generated by a global presence?

Minimize the transfer of knowledge across locations

ACME Corp. has ordered widgets from Wiley Widgets several times before, but now it would like Wiley Widgets to offer a lower per-unit price in exchange for a larger order. ACME is using which of the following types of business purchases?

Modified rebuy purchase

When a retailer initially chooses to make Apple Pay available for its customers, it will use which of the following types of business purchases?

New-task purchase

Cutco promotes and prices its knife products to convey its premium quality and backs them with exceptional customer service to make its products stand out in a crowded market. Which of the following terms is used to describe the process of creating and designing products so customers perceive them as different from competing products?

Product differentiation

Which of the following is responsible for a product, a product line, or several distinct products that make up an interrelated group within a multiproduct organization?

Product manager

Which of the following is the total group of products that an organization makes available to customers?

Product mix

The internet is viewed as a _______ medium because users determine which material they are going to view.

Pull

Which of the following does the North American Free Trade Agreement NOT do?

Raise tariffs on products imported from Canada and Mexico

Which of the following markets includes wholesalers or retailers?

Reseller Markets

Apple Pay is targeted at both consumers and retailers who choose to accept it for payment. Retailers represent which type of business market?

Reseller markets

_____________ and ______________ are part of the reseller market.

Retailers and wholesalers

Purchasing agents at ACME Corp. are looking in company files and trade directories, contacting suppliers for information, soliciting proposals from known vendors, and examining various online and print publications. They are in which of the following stages of the buying decision process?

Searching for and evaluating potential products and suppliers

Which of the following is a website (or app) where users can create a profile and interact with other users, post information, and engage in other forms of web-based communication?

Social network

Which of the following organizational architecture elements is the most difficult to change, especially in the short term?

Structure

Which of the following product elements derives from customers' involvement with the product, which may convey additional value to many products (and brands) for buyers?

Symbolic or experiential benefits

Which of the following is NOT a way in which nonprofit marketing is different from conventional marketing?

The chief beneficiary is who owns it or holds stock in it.

Which of the following is NOT a way that consumers rationalize pirating software, video games, and movies online?

They worry about getting arrested.

Which of the following is NOT a typical function of packaging?

To prevent efficient handling of the product

Which of the following is one of the biggest mistakes a marketer can make when engaging in digital marketing?

Treating it like a traditional marketing channel

Impossible Foods is using its understanding of plant physiology to develop new flavors, including pork and chicken. If Impossible Foods introduces a pork-flavored hot dog product, this would be an example of _______.

a brand extension

Although heterogeneity results in variability in service quality, which makes it difficult to standardize services, it does offer a significant advantage: _______.

a. the ability to customize

Impossible Foods needs to convert meat eaters into those who want to eat the Impossible Burger. To achieve this goal, Impossible Foods needs to move meat eaters from the awareness stage of the product adoption process to the _______.

adoption stage

ACME Corp. has concentrated its human resources with international expertise into one unit which serves as the central point for all information flow related to international operations, it is most likely using _______.

an international division structure

ACME Corp. is developing a software program that can run on mobile devices so that customers can interact with the firm, view product information, and see the status of an order. This is best described as a(n) _______.

app

Each Cutco knife goes through 30 steps to ensure that it meets the firm's standards and provides a good value for a premium product. These steps help guarantee that each knife has the same degree of quality over time, which is known as _______.

consistency of quality

Two trends have elevated the importance of consumer-generated information: (1) The growing tendency of consumers to publish their own thoughts, opinions, reviews, and product discussions; and (2) _______.

consumers' tendencies to trust other consumers over corporations

Delivery and installation, financing arrangements, customer training, warranties and guarantees, repairs, layaway plans, convenient hours of operation, adequate parking, and information through toll-free numbers and websites are examples of _______.

customer services

One of the most important factors in providing high service quality to customers is _______.

employee satisfaction

The sales department of a consumer products organization realized that its rivals were adopting new customer relationship management software to keep better track of their prospects. The director of the sales department decided it would also purchase the CRM software to keep up with its rivals. This is an example of what type of force affecting business buying behavior?

environmental forces

Most companies have entered the global marketplace _______ and _______.

gradually; incrementally

Training can help employees provide consistent service quality, thereby lessening variations in service quality, which is also known as _______.

heterogeneity

When customer-contact jobs are contracted out to the homes of workers, it is called _______.

homesourcing

The Red Cross raises money to help people survive natural and manmade disasters. Red Cross can best be described as a(n) _______.

idea

A price increase or decrease does not significantly alter demand for a product with _______.

inelastic demand

For most firms, the early stages of international development are often _______ and not fully _______.

informal; planned

The fact that you cannot isolate the production of a ride through a ride-share service such as Uber or Lyft from its consumption relates to the service's _______.

inseparability

The primary difference between a service and a good is that a service _______.

is dominated by the intangible portion of the total product

Quality, the overall characteristics of a product that allow it to perform as expected, has two components: _______ and _______.

level; consistency

Because it imports more products than it exports, so that money is flowing out of the country, the United States has a(n) _______.

negative balance of trade

Suppose the government wants to hire a firm to build a new road. What method of business buying will it most likely use?

negotiation

To reduce prices of services used during slow periods in order to boost demand, marketers may use _______.

off-peak pricing

When a business buyer invites vendors to bid to supply a specified good or service in competition with each other, with the lowest bidder winning the right to sell to the buyer, this is best described as _______.

reverse auction

Online marketing efforts make the buying process far more efficient because it _______ and _______.

saves time; reduces costs

When a product's packaging can be reused for an additional purpose, this is best described as _______.

secondary-use packaging

Customers' perceptions of how well a service meets or exceeds their expectations is best described as _______.

service quality

One of the most important benefits of e-marketing is the ability of marketers and customers to _______.

share information

The North American Industry Classification System (NAICS) is a(n) _______.

single industry classification system used by the United States, Canada, and Mexico to generate comparable statistics

ACME Corp. managers lack the will and resources to develop international marketing strategies, but are happy when their company's products are purchased by a(n) _______, which then sells them internationally.

trading company

Examining quality, design, materials, and possibly item reduction or deletion to acquire the product in the most cost-effective way is best described as _______.

value analysis

When a company offers many product lines, it can be said to have a _______.

wide product mix

A janitorial services organization purchases Clorox supplies to use in cleaning places like schools and office buildings. This type of customer would be an example of what type of market for Clorox? Ainstitutional

producer

The process of creating and designing products so that customers perceive them as different from competing products is best described as _______.

product differentiation

A _______ is a specific version of a product, while a _______ is a group of closely related products that are considered to be a group because of marketing, technical, or end-use considerations.

product item; product line

The group of people within an organization who make business buying decisions are best described as _______.

the buying center