MKT 449 Capstone
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Which of the following is an advantage of online communications for marketers? Companies can offer tailored information or messages that engage consumers. Advertisers do not need to worry as much about context. Consumers cannot effectively screen out your messages. Advertisers maintain complete control over the message. Companies can accurately track how effective their ads are because software filters out all bogus hits.
Companies can offer tailored information or messages that engage consumers.
________ is finding the most cost-effective media to deliver the desired number and type of exposures to the target audience. Media scheduling Copy testing Content analysis Media selection Communication design
Media selection
Which of the following is NOT a limitation of online reviews? Online reviews can be fake. Social influence can lead to disproportionally positive online ratings. Online reviews can be biased. Raters are influenced by previous, positive ratings. People trust and value positive reviews more than negative reviews.
People trust and value positive reviews more than negative reviews.
A(n) ________ is an extra payment designed to gain reseller participation in special programs. discount seasonal discount allowance functional discount quantity discount
allowance
In markets that are characterized by products that are highly homogeneous, how should a firm react to a competitor's reduction in price? reduce product services augment the product shrink the amount of the product available reduce product features substitute expensive materials or ingredients
augment the product
Companies that aim to ________ strive to be affordable luxuries. survive in the market pursue value pricing partially recover their costs maximize their market share be product-quality leaders
be product-quality leaders
AT&T found that one of the most effective drivers of its sales, along with unaided advertising awareness was ________. pay-per-click ads a blog social networks an online forum WOM
WOM
Which of the following is a characteristic of the affordable method of establishing a marketing communications budget? priority given to role of promotion as an investment suitable for long-range planning fixed annual budget based on the immediate impact of promotion on sales volume calculated to reflect what the company can spare for marketing communications
calculated to reflect what the company can spare for marketing communications
A computer manufacturing company allows customers to place orders online, which they can later pick up from a convenient retail location. Which of the following terms best represents this practice? internal marketing online personalization channel integration push strategy mass customization
channel integration
________ power can be effective, but its exercise produces resentment and can lead the intermediaries to organize countervailing power. Reward Legitimate Coercive Referent Expert
coercive
Which of the following is an example of paid media? consumers' Instagram photos that include the brand news stories about the brand social network conversations about the brand word-of-mouth about the brand a trade show booth about the brand
a trade show booth about the brand
Which of the following is NOT one of the possible consumer reference prices? last price paid expected future price typical price upper-bound price actual future price
actual future price
The ________ defines which other brands a brand competes with and therefore which brands should be the focus of competitive analysis. cluster analysis consumer profitability analysis service blueprint competitor indexing competitive frame of reference
competitive frame of reference
After creating a product prototype, a company tests it within the firm to see how it performs in different applications. The company refines the prototype to correct the mistakes found in in-house testing. What should be the next step? conducting beta testing with customers creating a marketing strategy for the product performing business analysis performing concept testing commercializing the product
conducting beta testing with customers
A producer must modify its channel design and arrangements if ________. the competition in the market stabilizes consumer buying patterns change the market size remains unchanged for a particular period the product is in the growth stage of its life cycle the firm's profits stabilize
consumer buying patterns change
Comparative advertising works best when ________. the firm is trying to minimize brand dilution the advertising message uses negative fear appeals it elicits cognitive and behavioral motivations simultaneously consumers are processing advertising in a detailed, analytical mode it elicits affective motivation, followed by cognitive motivation
consumers are processing advertising in a detailed, analytical mode
According to the hierarchy-of-effects model, which of the following corresponds to the affective stage that a buyer passes through? reception adoption exposure conviction attention
conviction
Angela switched to a new hair stylist after getting a bad haircut from her previous stylist. This is an example of which of the following factors leading to customer switching behavior? service encounter failure core service failure involuntary switching competition response to service failure
core service failure
3) The process of selecting one or more market segments to enter is called market ________. research positioning segmentation dominance targeting
targeting
Which of the following factors found in the macromodel of the communications process refers to random and competing messages that may interfere with the intended communication? noise negative feedback selective distortion phase lag attenuation
noise
An advertising ________ is a specific communications task and achievement level to be accomplished with a specific audience in a specific period of time. medium objective copy budget channel
objective
The heart of the internal records system is the ________ because customers favor firms that can promise timely delivery. order-to-payment cycle data warehouse information needs probe sales information system data mining system
order-to-payment cycle
The top rung of the loyalty ladder is the ________ rung. repeat purchase word of mouth/buzz satisfaction ownership evangelism
ownership
The most effective communications mix tool at later stages of the buying process is ________ because it is particularly effective at building buyer preference, conviction, and action. events direct and interactive marketing advertising sales promotions personal selling
personal Selling
Which of the following elements of the marketing communications mix involves face-to-face interaction with one or more prospective purchasers for the purpose of making presentations, answering questions, and procuring orders? sales promotion public relations advertising personal selling word-of-mouth marketing
personal selling
According to researchers, which of the following is the correct order in which content of print advertisements matter? picture-copy-headline copy-headline-picture headline-copy-picture copy-picture-headline picture-headline-copy
picture-headline-copy
________ is the act of designing the company's offering and image to occupy a distinctive place in the minds of the target market. Valuation Launching Pricing Commercialization Positioning
positioning
The defensive marketing strategy wherein a stream of new products are introduced by a firm and are announced in advance are referred to as ________ defense. mobile preemptive counteroffensive contraction flank
preemptive
________ call(s) for the producer to establish a schedule of discounts and allowances that intermediaries see as equitable and sufficient. Mutual services Territorial rights Price policy Exclusive dealings Tying agreements
price policy
A(n) ________ is an elaborated version of a product idea expressed in consumer terms. product concept alpha product beta product business schedule test brand
product concept
Which of the following activities is a reverse-flow channel of marketing? finished goods storage product recycling raw materials movement materials ordering customer order placement
product recycling
When the recent recession hit, Zappos decided to stop offering complimentary overnight shipping to first-time buyers and offer it to repeat buyers only, which is an example of the ________ best practice of top service companies. strategic concept monitoring systems profit tiers top-management commitment high standards
profit tiers
BRZ Shoes positions itself as a young, adventurous brand. Its logo and brand communication try to give consumers a feeling of excitement and bravery. These ads appeal to the ________ dimension of brand experience. behavioral social intellectual affective sensory
affective
Which of the following is an example of a pure service? a laptop a restaurant meal air travel psychotherapy baby oil
psychotherapy
Which of the following questions is answered during the business analysis of ideas? Will this product meet our profit goals? Can we find a good concept consumers say they would try? Have we got a technically and commercially sound product? Can this product meet sales expectations? Can we find a cost-effective, affordable marketing strategy?
Can this product meet sales expectations?
CH 19
Design and managing IMC
Which of the following equations accurately describes the total number of exposures (E) of an advertising message through a given medium? E = reach × frequency × impact E = frequency / reach E = reach × frequency E = (reach × frequency) / impact E = (reach + frequency) / impact
E = reach × frequency
If a marketing manager employs such marketing techniques as online buzz, student ambassadors, cool events, and street teams to reach target markets, the manager is most likely appealing to the ________ market. Generation Z Silent generation Generation Y Baby boomers Generation X
Gen Y
Which of the following is NOT an example of viral marketing? Quicksilver puts out surfing videos and surf-culture books for teens. Walmart places videos with money-saving tips on YouTube. Johnson & Johnson has a popular parenting advice Web site. Hasbro places a Facebook ad about its TV channel. Mountain Dew has a record label and offers free downloads.
Hasbro places a Facebook ad about its TV channel.
Producers often shift some functions to intermediaries. Which of the following is the most significant benefit of doing this? It provides the producer with greater control over operations. It lowers the producer's costs and prices. It ensures greater information security. It increases customer loyalty. It reduces the amount of direct customer interaction.
It lowers the producer's costs and prices.
After determining its pricing objectives, what is the next logical step a firm should take in setting its pricing policy? It should select its final price. It should analyze its competitors' costs, prices, and offers. It should determine the demand for its product. It should estimate the cost of its product. It should select its pricing method.
It should determine the demand for its product.
________ refers to the means by which firms attempt to inform, persuade, and remind consumers — directly or indirectly — about the products and brands they sell. Operations management Marketing communications Human resource development Planning Financial management
Marketing communications
For which of the following product categories are consumers least likely to engage with on social networks? NBC News Red Cross USA Today Salvation Army Purex laundry detergent
Purex laundry detergent
It has been observed that most new products have shorter product life cycles. What is the reason for this? Rivals quickly copy products that are successful. Most new products are not backed by a marketable idea. New products do not get adequate management support. Social and governmental constraints lead to this failure. Most new products do not use technology.
Rivals quickly copy products that are successful.
Which of the following is one of the elements of a site's ease of use? Typefaces and font sizes are very readable. The site makes good use of color. The site has user-centric privacy controls. The first page is easy to understand. Individual pages are clean and not crammed with content.
The first page is easy to understand.
The result of positioning is the successful creation of ________, which provides a cogent reason why the target market should buy the product. an award-winning promotional campaign a customer-focused value proposition a demand channel everyday low pricing employee value proposition
a customer-focused value proposition
________ marketing refers to training and motivating employees to serve customers well. Promotional Internal Direct Interactive External
internal
Which of the following is most closely related with the organic growth of an organization? increasing the operational profitability acquiring a product or service brand developing new products from within increasing productivity of employees entering new marketplaces
developing new products from within
Which of the following terms refers to the degree to which the innovation can be tried on a limited basis? relative advantage divisibility compatibility complexity communicability
divisability
Which of the following is the marketing communications objective for a new-to-the-world product, such as electric cars? encouraging repeat purchases increasing brand purchase intention developing brand attitude enhancing brand awareness establishing category need
establishing category need
Which of the following allows a firm to maintain control over service level and obtain more dedicated and knowledgeable selling? pull strategy exclusive distribution selective distribution intensive distribution push strategy
exclusive distrbution
Services high in ________ qualities have characteristics that the buyer can evaluate after purchase. credence stock privacy experience search
experience
________ is an advertising timing pattern that calls for advertising during a certain period, followed by a period with no advertising, followed by a second specific period of advertising activity. Frequency capping Concentration Flighting Continuity Pulsing
flighting
________ tracks eye movements with cameras to measure what people read on a computer screen. A click-through rate Heat mapping An interstitial A pay-per-click ad Animation
heat mapping
Which of the following is a disadvantage of using television as an advertising medium? low audience attention absence of clutter high audience selectivity high absolute cost lack of reach among audience
high absolute cost
Many consumers are willing to pay $100 for a perfume that contains $10 worth of scent because the perfume is from a well-known brand. What kind of pricing is the company depending on? markup pricing image pricing going-rate pricing market-skimming pricing target pricing
image pricing
The ________ rates the various elements of the service bundle and identifies required actions. importance-performance analysis company performance analysis customer importance analysis customer factor measurement voice of customer measurement
importance-performance analysis
Most established companies focus on ________ innovation when they aim to enter new markets by tweaking existing products, or they want to stay one step ahead in the market by using variations on a core product. radical spontaneous competitive continuous incremental
incremental
Which of the following parameters forms the basis for measuring sponsorship effectiveness using demand-side methods? amount of relevant newsprint mentioning the sponsor impact on market share of sponsor net impact on the sponsor's bottom line amount of time a brand is clearly visible on a television screen influence on consumers' brand knowledge of the sponsor
influence on consumers' brand knowledge of the sponsor
A(n) ________ appeal is a creative strategy that elaborates on product or service attributes or benefits. bandwagon aesthetic transformational informational emotional
informational
The fact that services are typically produced and consumed simultaneously is known as the ________ aspect of services. perishability heterogeneity intangibility inseparability variability
inseparability
Unlike physical products, services cannot be seen, tasted, felt, heard, or smelled before they are bought. This is known as the ________ aspect of services. perishability variability inseparability heterogeneity intangibility
intangibility
The market ________ has the largest market share and usually shows the way to other firms in price changes, new-product introductions, distribution coverage, and promotional intensity. nicher entrant follower leader challenger
leader
When planning communications for a detergent brand, which of the following sequences of buyer responses should the marketer choose on which to base the communications model? feel-do-learn learn-feel-do feel-learn-do learn-do-feel do-feel-learn
learn-do-feel
Place advertising, or out-of-home advertising, is a broad category that includes many creative and unexpected forms to grab consumers' attention, including all of the following EXCEPT ________. public spaces point of purchase billboards product placement magazines
magazines
When a company introduces a product at a high price and then gradually drops the price over time, it is pursuing a ________ strategy. market-penetration pricing loss-leader pricing value-pricing market-skimming pricing switching cost
market-skimming pricing
________ are sets of interdependent organizations participating in the process of making a product or service available for use or consumption. Sales territories Marketing terrains Marketing channels Communication channels Interstitials
marketing channels
Companies who believe that higher sales volume leads to lower unit costs and higher long-run profits are attempting to ________. maximize their market share become a product-quality leader maximize their current profits skim the market merely survive in the market
maximize their market share
Total Beverages, a maker of fruit juices and health drinks, recently launched a new brand of packaged drinking water called AquaPure. In order to induce distributors to carry the product, Total offers all its intermediaries a free refrigerator to store bottles of AquaPure. This is an example of a ________. reverse flow push strategy pull strategy consumer promotion backward flow
push
When consumers examine products, they often compare an observed price to an internal price they remember. This is known as a(n) ________ price. target market-skimming accumulated markup reference
reference
________ advertising aims to convince current purchasers that they made the right choice. Reminder Comparative Informational Reinforcement Persuasive
reinforcement
Which of the following elements of the marketing communications mix involves a variety of short-term incentives to encourage trial or purchase of a product or service? advertising sales promotion public relations direct marketing personal selling
sales promotion
Which of the following terms refers to add-on services such as credit, delivery, installation, and repairs, and is provided by a marketing channel? product variety external products service extensions product accessories service backup
service backup
A ________ process recognizes the value of returning to an earlier stage to make improvements before moving forward. spiral development concept testing reactive development proactive development market testing
spiral development
A ________ divides the innovation process into stages with a checkpoint at the end of each stage. spiral development process stage-gate system new-product department technique skunkworks system reverse assumption analysis technique
stage-gate system
Carlos is training his new graphic design intern on the use of color in mobile ads. Which of the following is good advice when it comes to the use of color? Use at least four bright colors. Use a bright color to highlight calls to action. Use at least three bright colors. Only use one bright color. Do not use bright colors.
use a bright color to hihglight CTA
________ pricing is a matter of reengineering the company's operations to become a low-cost producer without sacrificing quality. Perceived-value Value Auction-type Markup Going-rate
value
________ teams are cross-functional groups charged with developing a specific product or business. Fundamental Transitory Venture Virtual Elemental
venture
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What is the traditional view of marketing? Firms should remember that promotion is the most important of the four Ps. Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them. Firms should just focus on production and selling because marketing occurs as a part of the selling process. Firms should just focus on production because if the products are good then they will automatically sell. Firms should price their products as low as possible so that marketing them becomes easy.
Firms should just focus on production and selling because marketing occurs as a part of the selling process.
Which of the following statements about marketing is true? It is seldom useful for nonprofit organizations. It is of little importance when products are standardized. It is more important for bigger organizations than smaller ones. It can help create jobs in the economy by increasing demand for goods and services. It helps to build a loyal customer base but has no impact on a firm's intangible assets.
It can help create jobs in the economy by increasing demand for goods and services.
1) Which of the following statements about market segmentation is true? It is a process of evaluating each segment's attractiveness and selecting one or more to enter. It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market. It is the quality of how marketers go to market with the goal of optimizing their spending to achieve good results. It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants. It is a process of creating an image or identity of the product in the minds of the target market.
It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.
________ management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. Distribution Operations Knowledge Strategic Marketing
Marketing
Car rental firms, hair dressers, and management consultants provide ________. information goods services events experiences
Services
Which of the following statements about Gen Yers is true? They were born between 1964 and 1978. They were the first generation to find surpassing their parents' standard of living a serious challenge. They are more likely to associate retirement with "the beginning of the end." They are more pragmatic and individualistic. They are selective, confident, and impatient.
They are selective, confident, and impatient.
Delivery refers to how well a product or service is brought to the customer. It includes speed, ________, and care throughout the delivery process. accuracy performance intensity expedience tangibility
accuracy
Which of the following is a marketing advantage of strong brands? more elastic consumer response to price increases no vulnerability to marketing crises additional brand extension opportunities more inelastic consumer response to price decreases guaranteed profits
additional brand extension opportunities
A(n) ________ is a descriptive thought that a person holds about something. attitude belief feeling emotion
belief
Marketers typically focus on brand ________ in choosing the points-of-parity and points-of-difference that make up their brand positioning. awareness equity benefits extensions architecture
benefits
When a consumer expresses thoughts, feelings, images, experiences, and beliefs associated with the brand, the consumer is expressing ________. self-serving bias cognitive dissonance brand knowledge brand identity ethnocentric bias
brand knowledge
The ________ market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others. global domestic business consumer
business
In the purchasing decision process, the major role of ________ is in selecting vendors and negotiating. initiators buyers gatekeepers approvers
buyers
Gillette uses ________ pricing when it offers razor handles at a low cost, but places a high markup on the replacement razor blades that fit in the handles. optional feature captive-product product line by-product two-part
captive-product
The first phase of the value creation and delivery sequence is ________ the value that represents the "homework" marketing must do before any product exists. providing considering acquiring communicating choosing
choose
As a market follower strategy, the ________ emulates the leader's products, name, and packaging, with slight variations. adapter cloner innovator imitator counterfeiter
cloner
________ is a company's ability to perform in one or more ways that competitors cannot or will not match. Competitor analysis Competitive advantage Market research Competitive intelligence Brand positioning
comp. advantage
In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and the ________. socioeconomic infrastructure effectiveness of the suppliers flexibility of legal rules governing the business global nature of the product company's objectives and resources
company's objectives and resources
Which of the following factors is one of the contributors to the growing use of packaging as a marketing tool? consumption aid conformance qualities brand identification consumer influence consumer affluence
consumer affluence
________ is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants. Product differentiation Target marketing Consumer activism Consumer behavior
consumer behavior
Companies can practice targeted marketing by using ________, which are records of Web site usage stored on personal browsers. cookies trolls honey pots black swans plug-ins
cookies
A ________ has three characteristics: (1) a source of competitive advantage making a significant contribution to perceived customer benefits; (2) has applications in a wide variety of markets; and (3) is difficult to imitate. strategic business unit philanthropic endeavor corporate social responsibility effort core competency market sensing process
core competency
Regardless of the type of segmentation scheme used, the key is adjusting the marketing program to recognize ________. customer differences customer complaints saturated markets the level of disposable income earned by the target group the cost-benefit relationship of narrowing the target market
customer differences
The task of any business is to ________. reduce competition deliver customer value at a profit communicate similar value as provided by competitors create customer needs differentiate in terms of cost of production
deliver customer value at a profit
The three criteria that determine whether a brand association can truly function as a point-of-difference are ________. deviance, peculiarity, deformity desirability, deliverability, differentiability desirability, peculiarity, deliverability comparability, authenticity, deliverability differentiability, authenticity, desirability
desirability, deliverability, differentiability
In ________ marketing, the firm operates in several market segments and designs different products for each segment. niche differentiated individual undifferentiated concentrated
differentiated
A(n) ________ group is one whose values or behavior an individual rejects. primary aspirational dissociative membership
dissociative
Elance.com is a service provider that allows contractors to describe their level of satisfaction with subcontractors. This is an example of a(n) ________. customer complaint site public blog distributor or sales agent feedback site independent customer goods and service review forum combo site offering customer reviews and expert opinions
distributor or sales agent feedback site
Marketers have traditionally classified products on the basis of three characteristics: ________, tangibility, and use. aesthetics durability necessity availability affordability
durability
Brand ________ are devices that can be trademarked and serve to identify and differentiate the brand. value propositions images extensions perceptions elements
elements
Branding is ________. use of online interactive media to promote products and brands all about creating unanimity between products the process of comparing competing brands available in the market endowing products and services with the power of a brand the process of performing market research and selling products or services to customers
endowing products and services with the power of a brand
Brand ________ is the added value endowed to products and services. preference loyalty equity licensing identity
equity
Soccer's World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) ________. idea luxury item place service event
event
A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors' published reports and stockholder information, the company is using ________ to improve the quality of its marketing intelligence. intermediaries sales-force surrogates advisory panels external networks customer feedback systems
external networks
Those who favor localized marketing see national advertising as wasteful because it ________. magnifies logistical problems fails to address local needs gets too up close and personal with consumers drives up manufacturing and marketing costs by reducing economies of scale sends conflicting marketing messages
fails to address local needs
The family in a buyer's life consisting of parents and siblings is the ________. family of procreation family of orientation family of influence purchasing family
fam orientaion
Which of the following is NOT one of the six principles of a Blue Ocean strategy? focus on the numbers - not the big picture reconstruct market boundaries get the strategic sequence right overcome key organizational hurdles reach beyond existing demand
focus on numbers - not the big picture
When a customer places an order at BookBox.com, the company processes the customer's payment information, sends the order to the nearest warehouse, and ships the order via FedEx. This is best described as the ________ process. new-offering realization customer relationship management customer acquisition market-sensing fulfillment management
fulfillment management
5) Hilton Hotels customizes rooms and lobbies according to location. Northeastern hotels are sleeker and more cosmopolitan. Southwestern hotels are more rustic. This is an example of ________ segmentation. behavioral geographic cultural demographic psychographic
geographic
Which of the following is a challenge in which business marketers differ from consumer marketers? geographically concentrated buyers understanding deep customer needs in new ways identifying new opportunities for organic business growth calculating better marketing performance and accountability metrics
geographically concentrated buyers
Selective price cuts, intense promotional blitzes, and occasional legal action are commonplace in the strategic design of a(n) ________ attack. guerilla bypass encirclement frontal flank
guerilla
The internal records system supplies results data, but the marketing intelligence system supplies ________ data. process internal happenings revenue thematic
happenings
The first step in the strategic brand management process is ________. measuring and interpreting brand performance growing and sustaining brand value identifying and establishing brand positioning measuring consumer brand loyalty planning and implementing brand marketing
identifying and establishing brand positioning
Which of the following marketing strategies requires either identifying additional opportunities to use the brand in the same basic way or identifying completely new and different ways to use the brand? increasing the amount of consumption increasing frequency of consumption decreasing the level of consumption increasing product innovation increasing dedication to consumption
increasing frequency of consumption
A(n) ________ is a group of firms offering a product or class of products that are close substitutes for one another. focus group umbrella brand industry community task force
industry
Which of the following is the most constructive response a market leader can make when defending its market share? provide desired benefits innovate continuously maintain basic cost control provide expected benefits meet challengers with a swift response
innovate continuosly
As the manager of an organization that is attempting to build a Marketing Information System (MIS), you have been informed that an MIS is built upon three fundamental information sources. The sources are ________, marketing intelligence activities, and marketing research. consultant reports external records and document internal company records databases found on the Internet secondary data from government sources such as the Better Business Bureau
internal company records
Brand salience ________. describes the extrinsic properties of the product or service, including the ways in which the brand attempts to meet customers' psychological or social needs describes the relationship customers have with the brand and the extent to which they feel they're "in sync" with it is customers' emotional responses and reactions with respect to the brand is how often and how easily customers think of the brand under various purchase or consumption situations is how well the product or service meets customers' functional needs
is how often and how easily customers think of the brand under various purchase or consumption situations
When the total market expands, the market ________ usually gains the most. follower challenger entrant nicher leader
leader
Brand ________ are short, three- to five-word phrases that capture the irrefutable essence or spirit of the brand positioning and ensure that the company's own employees understand what the brand represents. mantras symbols logos alliances extensions
mantras
With respect to core business processes, the ________ process includes all the activities involved in gathering external information, disseminating it within the organization, and acting on the information. market research market-sensing target marketing deployment market pulse
market-sensing
A social definition of marketing says ________. effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers marketing is the process of aggressive selling and promotion to encourage the purchase of products that might otherwise be unsought by the consumer marketing is the process of extracting the maximum value from consumers to facilitate corporate growth marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company's products
marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others
A ________ is a "large social, economic, political, and technological change that is slow to form, and once in place, influences us for some time — between seven and ten years, or longer." megatrend fashion style trend fad
megatrend
When firms look for new users in groups that have never used the product before, the firm is using the ________ strategy. new-market segment market-penetration product development diversification geographical-expansion
new-market segment
________ refers to the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers. Organizational buying Corporate retailing Marketing channels Inventory control
organizational behavior
Chipotle engages customers through Facebook, Twitter, and other social media accounts via its grassroots "Food with Integrity" digital strategy, which puts the focus on what it sells and where it comes from. These are examples of ________ media. owned earned service paid marketing
owned
Points-of-________ are product associations that are not necessarily unique to the brand but may in fact be shared with other brands. inflection divergence difference parity presence
parity
With respect to the "six brand building blocks," brand ________ signifies how well the product or service meets customers' functional needs. resonance performance judgment salience imagery
performance
Which of the following "building block levels" corresponds to the branding objectives of points-of-parity and difference? resonance and salience imagery and judgment judgment and feelings performance and imagery salience and feelings
performance and imagery
________ goods constitute the bulk of most countries' production and marketing efforts. Intangible Luxury Durable Impulse Physical
physical
Which of the following terms is most closely associated with the statement: "attributes or benefits consumers strongly associate with a brand, positively evaluate, and believe that they could not find to the same extent with a competitive brand"? points-of-inflection points-of-presence points-of-value points-of-difference points-of-parity
points-of-difference
________ defense involves occupying the most desirable market space in the minds of the consumers and making the brand almost impregnable. Position Contraction Mobile Flank Preemptive
position
When companies search for new ways to satisfy customers and distinguish their offering from others, they look at the ________ product, which encompasses all the possible augmentations and transformations of the product. basic augmented potential consumption expected
potential
A customer judges a product offering by three basic elements: product features and quality, services mix and quality, and ________. availability tangibility price performance utility
price
Michael Porter's value chain would identify which of the following as a support activity? operations servicing products procurement marketing products shipping out final products
procurement
A ________ is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. benefit structure process function product
product
What is the second phase of the value creation and delivery sequence? communicating the value providing the value choosing the value calculating the value calibrating the value
providing the value
When the Modern Museum of Art separated its consumers by whether they were culture-oriented or outdoor-oriented for its new exhibit on art that used natural materials, they were using ________ segmentation. psychographic lifestyle personality social class demographic behavioral occasion
psychographic lifestyle
When a company acquires consumer-panel data from firms like A.C. Nielsen Company and Information Resources Inc., which of the following steps to improve the quality of a company marketing intelligence system is the company resorting to? training and motivating the sales force to spot and report new developments hiring external experts to collect intelligence purchasing information from outside research firms and vendors using external network motivating distributors, retailers, and other intermediaries to pass along important intelligence
purchasing information from outside research firms and vendors
Kodak wants to be seen as a leader in digital photography, so it is moving away from the production of film roll cameras. This would be an example of which of the following business realignment steps? realigning the value chain repositioning the company's brand identity redoing the corporate logo changing the corporate vision abandoning current product lines
repositioning the company's brand identity
By equipping its sales force with handheld devices with barcode readers and Internet connections to speed inventory assessment, TaylorMade allows sales executives to have significantly more time to interact with their consumers. This is an example of the use of technology in improving ________. cookies competitive intelligence gathering cohort segmentation sales information systems payroll systems
sales information systems
As economies advance, a growing proportion of the economy's activities focuses on the production of ________. services luxury goods products experiences events
services
Which of the following is an example of a pure tangible good? air travel restaurant meal shampoo massage e-mail
shampoo
With respect to powerful brand elements, ________ is an extremely efficient means to build brand equity. This element functions as a useful "hook" to help consumers grasp what the brand is and what makes it special. a copyright a patent the tangibility of a product a product's shape a slogan
slogan
The relatively homogeneous and enduring divisions in a society, which are hierarchically ordered and whose members share similar values, interests, and behavior constitute a ________. family social class subculture culture
social class
The business buyer has to make the fewest decisions when involved in a ________. modified rebuy regular buy straight rebuy new task
straight rebuy
Guarantees are most effective in two situations. The first is when the company or products are not well known. The second is when the product's quality is ________ to competition. different inferior not known equivalent superior
superior
The ________ environment includes the actors involved in producing, distributing, and promoting an offering. The main actors are the company, suppliers, distributors, dealers, and the target customers. task tactical strategic management economic
task
A market leader on the look out for more usage from existing customers should focus on increasing the frequency of consumption and ________. diversifying into unrelated markets the product line the amount of consumption decreasing production turnover time decreasing the product price
the amount of consumption
Amber oversees the activities at a consumer packaged goods firm that include researching, developing, and launching new, high-quality shampoos, quickly and within budget. With which process is her job most closely aligned? the fulfillment management process the customer relationship management process the market-sensing process the new-offering realization process the customer acquisition process
the new-offering realization process
The main advantage of co-branding is that a product may be convincingly positioned by virtue of the ________ involved. branding synergy multiple brands pure bundling bundled package increased advertising dollars
ultiple brands
Products such as insurance, cemetery plots, and smoke detectors are examples of ________ goods that are products that the consumer does not know about or does not normally think of buying. homogeneous shopping unsought heterogeneous shopping specialty convenience
unsought
The company's marketing information system should be a mix of what managers think they need, what managers really need, and ________. what the government policies allow what consumers are willing to consume what is acceptable at the industry level what is economically feasible what the marketing research department is able to do
what is economically feasible
