MKTG. 3310. Final Exam.

________ advertising would most likely result in attack ads between competitors.

Comparative

_________ is the degree to which an innovation fits the values and experiences of potential consumers.

Compatibility

Vince's Video has suffered in the current economy because fewer people have the money for videos and because people utilize available​ technology, including online streaming sites like YouTube and Hulu. The videos​ Vince's Video does sell are often out priced by versions coming from China or​ Taiwan, or they are accused of damaging the environment. Which marketing impacts has not likely affected​ Vince's Video?

Not-for-profit marketing

What are the four elements of a compensation plan for salespeople?

a fixed amount, a variable amount, expenses and fringe benefits

What is the most common type of a contractual VMS?

a franchise

For the past few years, Dorito's has held a "Crash the Super Bowl" contest in which it invites 30-second ads from consumers and runs the best ones during the game. This is an example of __________.

consumer-generated marketing

Sherwin-Williams sells its paint and other branded products exclusively through company-owned retail stores. Sherwin-Williams has established a(n) _________.

corporate VMS

Macy's carries several product lines. Typically clothing, home furnishings, and household goods with each line operating as a separate department managed by specialist buyers or merchandisers. Macy's is best described as a(n) ________.

department store

________ products give both high immediate satisfaction and high long-run benefits, such as tasty and nutritious breakfast food.

desirable

________ products give both high immediate satisfaction and high long-run benefits.

desirable

Companies like Amazon and Expedia.com that sell products and services directly to final buyers over the Internet are known as _______.

e-tailers

________ economies are major exporters of manufactured goods, services, and investment funds.

industrial

A country's ________ shapes its product and service needs, income levels, and employment levels.

industrial structure

Producers of convenience products typically use ______ distribution.

intensive

Zappos recognizes the importance of the buyer-seller interaction. They only hire people with an innate "passion to serve" and they go through four weeks of customer loyalty training. This buyer-seller interaction is referred to as ________ marketing.

interactive

Dividing a market into several sections of customers is known as ________.

market segmentation

________ involves changing the products to meet local requirements, conditions, or wants.

product adaptation

________ is a short-term incentive to encourage the purchase or sale of a product or service.

sales promotion

_______ refer to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible.

services

The ________ concept considers the future welfare of consumers.

societal marketing

The French Purse Company, a purse retailer, offers a deep assortment of ladies' purses. The French Purse Company is best described as a(n) ________.

specialty store

Louis Vuitton profitably appeals to families with more financial means. The retailer's approach is most likely referred to as __________.

target marketing

When setting channel objectives, companies should state the objectives in terms of ______.

targeted levels of customer service

A tax on an imported product designed to raise revenue or protect domestic firms is referred to as a(n) ________.

tariff

One retail trend resulting from economic conditions is ________.

tighter consumer spending

A ________ is made up of a company, its suppliers, distributors, and, ultimately, customers who "partner" with each other to improve the performance of the entire system.

value delivery network

A(n) _______ is made up of the company, suppliers, distributors, and, ultimately, customers who "partner" with each other to improve the performance of the entire system.

value delivery network

To create value for customers, marketers must improve the performance of the __________, which includes partnering with suppliers, distributors and customers

value delivery network

Providing extra amenities to differentiate and support high-priced products is referred to as ________ pricing.

value-added

The website leftyslefthand.com markets products to left-handed consumers only. Which targeting strategy does this represent?

Concentrated Marketing

What is the nature of demand in business markets?

demand in business markets is derived demand

To develop needed information, marketing information systems utilize...

internal databases, marketing intelligence and marketing research

In a marketer's macroenvironment, the ________ environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society

political

A firm that uses direct marketing would most likely sell its products through ________.

the company Web site

Fads are characterized by their ________.

usually high sales and rapid decline

One major objective associated with a market-penetration pricing strategy is to ________.

win a large market share

When a company divides the market into groups of​ customers, it is engaging in which of the​ following?

Market Segmentation

Susan has been redecorating her new condo for a year and searching for the perfect rug. She is carefully selecting every item. Susan finds a rug that matches her color scheme and décor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n) ________.

Specialty product

The quality of services depends on who provides them as well as when, where, and how they are provided. Which characteristic of services does this describe?

Variability

In the early 1970's, Gary Dahl sold pet rocks. The product had a short, temporary period of unusually high sales driven by consumer enthusiasm and immediate product popularity, but then sales declined very quickly. The PLC sales pattern for pet rocks is known as ______.

a fad

A(n)_______ is a layer of intermediaries that performs some work in bringing the product and its ownership closer to find the final buyer.

channel level

A(n) ________ is the variable amount in a salesperson's compensation.

commission

________ is a global communication strategy of adapting advertising messages to local markets.

communication adaptation

Appliance maker Whirlpool assigns individual teams of salespeople to big retail customers such as Sears, Lowe's, Best Buy, and Home Depot. Each Whirlpool sales team aligns with the large customer's buying team. Whirlpool has most likely adopted a ________ sales-force structure.

complex

Compared with undifferentiated marketing, differentiated marketing is more likely to lead to ________.

higher costs of doing business

A channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity is referred to as a(n) ________.

horizontal marketing system

GI Jane recently conducted national research to generate ideas for a new line of fatigues geared to women. The company uncovered a number of ideas about clothing and accessory preferences as well as important benefits such as built-in sunblock and durability. The GI Jane product development team will most likely use ________ next to arrive at a realistic number of products for the new fatigues line.

idea screening

When Apple Computer Company introduced its iPhone, its priced the new product at $599, considerably higher than either their iPod or competing cellular phones. Apple Computer was pursuing a ___________________ new product pricing strategy.

market-skimming

Compared to standardized global marketing, adapted global marketing ________.

modifies marketing strategies to meet local needs

GE Healthcare employs different sales forces for diagnostic imaging, life sciences, and integrated IT products and services. GE Healthcare has adopted a(n) ______ sales force structure.

product

A detailed version of a product idea stated in meaningful consumer terms is a ________.

product concept

A class-action lawsuit was brought against a national burger chain, charging that its food contributed to the nationwide obesity epidemic. The suit was eventually dismissed, but critics continue to point out the health dangers of many fast food menu items. From the description, it can be concluded that these critics are concerned that the fast food industry is ________.

selling harmful products

The practice of coming into retail stores to check out merchandise and prices but making purchases online using a computer or mobile device is called _______.

showrooming

The fastest-growing sales trend is ________ that involves the use of online, mobile, and social media to engage customers, build stronger customer relationships, and augment sales performance.

social selling

A TV ad promoting how an ordinary person's life has changed due to considerable weight loss is an example of the ________ style of advertising.

testimonial evidence

What is most likely to cause a variation in customer-perceived value?

the customer's opinion of what constitutes value

The length of a channel is indicated by ___________.

the number of intermediary levels

Competitive marketing intelligence is primarily responsible for

the systematic collection and analysis of publicly available information

Critics who assert that the marketing system promotes too much interest in material possessions are most likely concerned that the result of successful marketing will be ________.

unsustainable overconsumption

New, premium movie theaters offer features such as online reserved seating, high-backed leather executive chairs with armrests and footrests, the latest in digital sound, super-wide screens, and other amenities for which they charge a higher price. This is an example of which type of pricing?

value-added pricing

________ includes all the activities involved in selling goods and services to those buying them for resale or business use.

wholesaling

The Anheuser-Busch Emergency Drinking Water Program provides clean drinking water to families in disaster-stricken areas. This is an example of __________ marketing

Cause-related

To exercise their social​ responsibility, many companies are linking themselves to what type of​ marketing?

Cause-related

Which type of consumer products are frequently purchased with little planning, little comparison or shopping effort, and low customer involvement?

Convenience products

Nibbles Pet Food Corporation is in the process of developing its new market strategy. The marketing team has already established the company's niche product premium, organic dog and cat food and contracted to sell it in several high-end pet stores. The team has also determined the optimum price to create value for customers and still make a profit. What does the marketing team need to do now?

Create a promotion strategy to increase customer awareness

Craig's Craft Beer structures its company in such a way to encourage its most profitable older customers to remain loyal while also targeting a new generation of customers. What is​ Craig's Craft Beer attempting to​ build?

Customer equity

Advantage Airlines has instituted a loyalty rewards program that rewards customers with free​ Wi-Fi, seat​ upgrades, and free miles for their continued patronage. What relationship tool is Advantage Airlines​ using?

Frequency marketing program

Which generational group is most comfortable using digital technologies?

Generation Z

This adopter group is skeptical and only adopts new products after a majority of people has tried it.

Late mainstream

______ consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.

Marketing analytics

Four P's of the Marketing Mix

Product, Place, Price, Promotion

Wonders such as robotic surgery, miniaturized electronics, and antibiotics can be attributed to which marketing environment?

Technological

According to the model of buyer behavior, what is in a buyer's black box?

The buyer's characteristics and decision process

How does the new concept of marketing differ from the old concept of marketing?

The new concept focuses on the needs of the customer

What determines if a buyer is satisfied or dissatisfied with a purchase?

The relationship between the consumer's expectations and the product's perceived performance

What is the main problem that sellers suffering from marketing myopia face?

They focus more on products than the customer's overlying need

How do firms that use captive-product pricing make up for the low prices of their main products?

They set high markups on the captive products

Noah's Sporting Goods is having difficulty attaining the credit it needs to expand. What should the company do in order to alleviate its financial​ situation?

Work out a plan with its financial intermediaries

Howard Schultz, the founder of Starbucks, positioned his bistros as "a third place" between work and home where patrons could share and enjoy a cup of coffee with friends. This illustrates ________.

a core customer value

Critics charge that high advertising and promotion costs unnecessarily increase retail prices. Marketers most likely respond to this criticism by arguing that advertising ________.

adds value by giving consumers product information

In the promotion mix, ________ refers to any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.

advertising

At which step in the personal selling process does a salesperson meet the customer for the first time?

approach

Critics claim that companies in the ________ industry are more likely to introduce planned streams of new products that make older models obsolete.

consumer electronics

________ refers to setting price based on buyers' perception of value rather than on the seller's cost.

customer value-based pricing

The local movie theater has different admission prices for students, adults, and seniors. All three groups are entitled to the same services. This form of pricing is called ________ pricing.

customer-segment

According to the text, _______ are the most important actors in a company's microenvironment

customers

Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up-and-coming professionals. Harry's most likely segments the consumer market based on ________ variables.

demographic

An advantage of ________ is that they allow real-time merchandising; products and features can be added or removed as needed, and prices can be adjusted instantly to match demand.

digital catalogs

At which stage of the new product development process is crowdsourcing used?

idea generation

Jennifer Davis, the owner of an alcohol distributing company, collects data from her monthly records of sales, costs, and cash flow. In this case, Jennifer is making use of ________ databases.

internal

Busch Stadium in St. Louis charges different prices for seats in different areas of the ball park, even though each seat costs the same for the owners of the stadium. What is this form of pricing called?

location-based pricing

A company has set a low price on a new product it introduced. It wants to maximize its market share and attract a large number of buyers quickly. Which new product pricing strategy should the company use?

market-penetration pricing

What is a business portfolio?

the collection of businesses and products that make up a company

Large retailers like Walmart have enormous channel control due to their size and power. Which type of channel arrangement does this represent?

Administered VMS

Product Positioning

Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

How do the individual components of a SWOT analysis work together to determine the status of a company?

Ascertaining a company's strengths, relating them to opportunities, minimizing weaknesses and identifying threats to growth and development

A power tool company wants to give its customers access to internal, non-public information about how best to use its product in creative ways. What should the company create to provide customers with this information?

a company extranet

Kidcomp, an American computer-manufacturing firm, targets children below the age of ten by providing free games and applications. The firm's marketing approach is reflective of ________ segmentation.

age and life cycle

The act of obtaining a desired object from someone by offering something in return is known as...

an exchange

Many companies build extensive electronic collections of consumer and market information obtained from data sources within the company's network. This is known as ___________.

an internal database

The ultimate goal of the marketing process is to...

capture value from customers

Dunkin Donuts goal to increase customer satisfaction in its coffee by 18% during the first 6 months of the new fiscal year is an example of a

marketing objective

When the size, purchasing power, and profiles of a market segment can be determined, the market segment is said to be ________.

measurable

A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs.

value proposition

Goldtone is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Goldtone is using ________ to generate new product ideas.

Crowdsourcing

Which type of market segmentation has long been used in clothing, cosmetics, toiletries, and magazines?

Gender

Numbering 49 million or more, this group of consumers is sometimes overlooked because it is less materialistic than other groups and prizes experience, not acquisition.

Generation X

________ segmentation calls for dividing the market into different nations, regions, states, counties, cities, or even neighborhoods.

Geographic

Sadie's Restaurant has listened to its customers over the years and is now able to offer the right combination of quality and good service at a fair price. Which pricing strategy is Sadie's using?

Good-value pricing

Sales are rising rapidly, competitors are growing in number and the customers are early adopters. Which stage of the PLC does this describe?

Growth

When we see Hello Kitty on children's clothing, Disney characters on lunchboxes, and Sponge Bob Squarepants on breakfast cereals, which form of brand sponsorship is being used?

Licensing

the demographic, economic, natural, technological, political and cultural forces that affect a company's ability to serve its customers make up its, what?

Macroenvironment

________ involves dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies.

Market segmenting

Beverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the claims, the restaurant called in a company to test not only its veggie burgers but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the restaurant's Facebook page. What BEST describes Beverly's Burgers response to the allegations?

Proactive

_________ refers to the degree to which innovation appears superior to existing products.

Relative advantage

Tammy's Tap Dancing School currently has several question marks in its business portfolio, but it is currently maintaining its market share. At the most recent board meeting, the CEO of Tammy's Tap Dancing School decided to allocate all of the company's profits toward the growth and expansion of this question mark, in order to cause the question marks to become stars. What is likely to happen to this company?

The growth of the company will be unpredictable since there is no guarantee a question mark will become a star

Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six years, sales have continuously declined and profits have almost completely disappeared. The CEO of Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to Tina's Tunes?

Tina's Tunes is likely to fail because it is ignoring the technological environment

The marketing manager at Arbor's Delicatessen targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of low-fat, low-calorie meals that appeal to dieters. Arbors' approach is best referred to as ________ segmentation.

benefit

The marketing manager at Frizzles' Eateries targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of low-fat, low-calorie meals that appeal to dieters. Frizzles' approach is best referred to as ________ segmentation.

benefit

A ________ is defined as a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service

brand

As with other types of marketers, a primary goal in wholesaling is to ________.

build value-adding customer relationships

Conventions, trade shows, and sales contests are types of ________.

business promotions

Heeltoe, a boutique that caters to the footwear needs of women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on ________ variables.

demographic

PepsiCo has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product, PepsiCo should most likely use ________.

descriptive research

Companies that use ________ continually adjust prices to meet the characteristics and needs of individual customers and situations.

dynamic pricing

The benefits of direct and digital marketing for buyers are that it is _________.

easy, convenient and private

A marketing firm has been assigned the task of watching trends in spending, personal income, savings, and interest rates. The marketing firm is most likely gathering information about consumers' ________.

economic situations

Carefully orchestrating the store's layout and displays, background music, colors, and smells is related to ________.

experiential retailing

A market researcher wants to find the cause-and-effect relationship between using organic ingredients in food and the subsequent consumption by customers. He invites ten respondents to his research firm and asks them to taste two identical dishes. The dishes were prepared in a similar manner, but one has natural herbs for flavoring, and the other has artificial flavors. This is an example of ________.

experimental research

Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________.

experimental research

The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses.

exploratory

You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In exchange, you receive a small payment. You are participating in a(n) ________.

focus group interview

Because of the lack of supermarkets in low-income areas, many disadvantaged consumers find themselves in ________, with little or no access to healthy, affordable fresh foods.

food deserts

Consumers rely less on price to judge the quality of a product when they ________.

have prior experience with the product

A product line is most likely too long if managers can ________.

increase profits by dropping items

Service marketing requires ________. This means that the service firm must orient and motivate its customer-contact employees and supporting service people to work as a team to provide customer satisfaction.

internal marketing

A company launching a new product at the commercialization stage of new product development must first decide on ___________.

introduction timing

____________ is perhaps the toughest public policy issue now confronting the direct marketing industry.

invasion of privacy

The role of a company's marketing information system (MIS) is important because

it enables a company to use customer insights to improve relationships with customers

Overall, how has the American population changed over time?

it has become more diverse, better educated and more mobile

Identifying, describing and promoting the product are three functions of ______.

labeling

Stores offering low-quality alternatives to luxury products at low prices most likely follow a ________ positioning strategy.

less-for-much-less

In determining product quality, what are the two dimensions of quality marketers must decide upon?

level and conformance

University Boutiques promotes its brand in new international markets by providing rights to local boutiques to use its patented designs and brand name. In this case, University Boutiques' market-entering strategy is referred to as ________.

licensing

When Doritos comes out with new flavors of its tortilla chips, what brand development strategy does it employ?

line extension

Maddie's Sneakers, a manufacturer of fine sneakers, sells its products through its online Web site, a catalogue, and specialty boutiques that target women. Which kind of channel arrangement does Maddie's Sneakers employ to distribute its products?

multichannel distribution system

Gold Class Electricals, a consumer-electronics firm, targets market segments based on factors such as country, age, social class, usage rate, and benefits sought. The company divides its markets based on ________.

multiple segmentation bases

Firms that manufacture seasonal products target their consumers primarily through ________ segmentation.

occasion

Olivia is searching for natural almond butter on SquirrelsApp, a mobile Web application for nut lovers. While browsing the application, a banner appears on the mobile screen showcasing offers and discounts on jelly and jam products. The banner is best referred to as a(n) ________.

online display advertisement

Consumers can obtain information from any of several sources. Which source is the most effective in that they legitimize the product?

personal sources

Ford Motor Company issuing a recall that requires customers to schedule appointments with car dealerships to repair faulty igniters would have the greatest impact on the _________ component of its marketing mix

place

It's time for the Super Bowl, and the end-of-the-aisle displays at the supermarket feature chips, dips, and soft drinks. What type of sales promotion tool is this?

point-of-purchase

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

positioning

At which stage of the new product development process is a physical product first developed?

product development

Bose promises "better sound through research." This is an example of ________.

product differentiation

Electronics International has experienced a significant decline in sales for SweetTunes, its MP3 player, during the past two years. In response, the company has reduced its advertising and sales expenditures for SweetTunes in an attempt to improve short-run profits. Which term best describes Electronics International's strategy for SweetTunes?

product harvesting

Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the product lines make up Clorox's ________.

product mix

Bath & Body Works offers "three-fer" deals on its soaps and lotions (such as three antibacterial soaps for $10). This is an example of _______ pricing.

product-bundle

A retailer temporarily prices a few select items below cost to create excitement and pull consumers into the store. This is an example of _________ pricing.

promotional

Dividing buyers into groups based on social class, lifestyle, or personality characteristics is called ________ segmentation.

psychographic

In ________, the market consists of many buyers and sellers trading in a uniform commodity, such as wheat, copper, or financial securities.

pure competition

A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ________.

reference group

Which type of retailer is much larger than a regular supermarket and offers a large assortment of routinely purchased food products, nonfood items, and services.

superstores

At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance departments work in cross-functional groups to save time and money in the new product development process. From this description, it can be inferred that Fantastic Flavors uses a(n) ________ approach.

team-based new product development

A company that sells only one product line with customers in many locations would typically use a ________.

territorial sales-force structure

Internal factors that affect pricing include ________.

the company's overall marketing strategy, objectives and marketing mix

A ________ pricing strategy for an offering begins with an assessment of customer needs and perceptions. Then a target price is set based on customer perceptions of worth.

value-based

Costs that change directly with the level of production are referred to as ________ costs

variable

A ________ consists of producers, wholesalers, and retailers acting as a unified system. The system can be dominated by any one of the interdependent members.

vertical marketing system

________ refers to the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use.

retailing

When Dr. Lawncare developed his revolutionary new solar powered lawnmower, he knew that during the introductory stage of the product lifecycle ___________.

sales would be slow and profits non-existent

Maytag's front-loading Neptune washer comes in very unappealing designs, but they are known to be the longest lasting, most energy efficient product on the market. The Neptune washer is most likely an example of a ________ product

salutary

Advertising appeals should have three characteristics. These characteristics are:

to be meaningful, to be believable and to be distinctive

What is the purpose of the marketing mix as part of the overall marketing strategy?

to elicit a response that influences a demand for the product from the customers the company is targeting

Any contact between a customer and a company is called​ a(n) _________.

touch point

What is the ultimate aim of customer relationship management?

Produce high customer equity

A baby boomer decides to purchase a BMW to impress others with her success. This illustrates the importance of understanding the role of ________ in the marketing process

motive

Bob's Bicycle Sales and Repair is a brand new company. From a marketing​ standpoint, what is the FIRST thing​ Bob's Bicycle Sales and Repair needs to​ do?

Determine who in the community wants or needs a bicycle or repair service

What is the overall goal when retailers choose their product assortment?

Differentiate the retailer while matching target shoppers' expectations

Gillette charges a fairly low price for its razors (relative to costs) and a high price for razor blades. It is using a strategy of ___________ pricing.

captive-product

Owning the entire distribution chain - from its own design and manufacturing operations to distribution through its own managed stores - has turned French sunglasses chain Air Optics into the world's fastest-growing glasses retailer. This is an example of a(n) ________ marketing system.

corporate vertical

________ is a geographic characteristic of market potential.

country size

________ includes exaggerating package contents through subtle design, using misleading labeling, or describing size in misleading terms.

deceptive packaging

________ products, such as bad-tasting and ineffective medicine, have neither immediate appeal nor long-run benefits.

deficient

Susan now has the buying power to purchase the iPhone that she wanted to buy a year ago. Susan's want has most likely become a

demand

The process in which printed catalogs, brochures, samples, and DVDs are distributed to customers using highly selective mailing lists is known as ________.

direct-mail marketing

________ involves sending an offer, announcement, reminder, or other item to a person at a particular address.

direct-mail marketing

Leading "big-box" stores, such as Walmart and Target, now dominate the retail scene. However, even "small-box" stores like Dollar General, are thriving in the current economic environment. All three retailers are considered

discount stores

Online marketers taking business from traditional brick-and-mortar retailers is an example of _____.

disintermediation

A company's external sources of new product ideas include its ________.

distributors

Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she does not know much about wine, she will likely use the price of the wines as ________.

indicator of quality

Age, personality, buying style, and job position are ________ factors that can influence the business buying decision process.

individual

Great Britain is a major exporter of manufactured goods, services, and investment funds. Great Britain also exports its goods to other types of economies for raw materials and semi-finished goods. This is an example of a(n) ________ economy.

industrial

Which advertising objective is used heavily when introducing a new product category?

informative

A car buyer can choose a base model at one price, or one with a premium sound and navigation system at a higher price. This is an example of _______ pricing.

optional-product

Bill thought he had received the best deal on his riding mower. Shortly after the purchase, Bill started to notice certain disadvantages of his new riding mower as he learned more about other riding mowers available in the same price range. Bill is in which stage of the buyer decision process?

post purchase behavior

One consumer promotion tool is _______, which are goods offered free or at a low cost as an incentive to buy a product.

premiums

In the ________ stage of new product development, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them.

product development

The ________ style of advertising shows ordinary people clearly using a product in a normal setting.

slice of life

________ is an organized movement of concerned citizens, businesses, and government agencies designed to protect and improve people's current and future living environment.

environmentalism

Bateman Gray Motors sells the cars it produces using dedicated dealers who only sell Bateman Gray's products at their outlets. What kind of marketing strategy has Bateman Gray adopted with its car dealers?

exclusive dealing

The role of a company's marketing intermediaries is to...

help the company find, promote, sell and distribute products

What are stars in the growth share matrix?

high-growth, high-share businesses or products

The Learning Institute recently conducted a brainstorming session that generated a large number of ideas for adding new products and services. Learning Institute managers will most likely use ________ next to arrive at a realistic number of ideas to adopt.

idea screening

The goal of a market development growth strategy is to

identify and develop new markets for current products of a company's market

A chiropractor adjusting the spine of a patient illustrates how a service can be produced and consumed simultaneously. This is an example of which service characteristic?

inseparability

Service _______ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.

intangibility

Lush Lawns, a new landscaping company, uses the same logo and shade of green in all forms of communication including its online ads, truck signage, Web site, and business cards. Which technique is being used by Lush Lawns to promote its business?

integrated marketing communications

Pretty Petunias, a new fresh flower company, uses the same logo and shade of pink in all forms of communication including its online ads, truck signage, Web site, and business cards. Which technique is being used by Pretty Petunias to promote its business?

integrated marketing communications

Amazon recognizes the importance of the buyer-seller interaction. They only hire people with an innate "passion to serve" and they go through weeks of customer loyalty training. This buyer-seller interaction is referred to as ________ marketing.

interactive

Many state colleges and universities charge one price for in-state students and a higher price for out-of-state students. Which form of segmented pricing are these schools using?

location-based pricing

a firm's decisions to identify and develop new markets for existing products is a ____________ strategy

market development

Tim Hortons has introduced a Special Shopper Card that allows current customers to pay in advance for coffee and snacks. This effort by management is most likely an example of

market penetration

When consumers respond in a similar way to a given set of marketing efforts, they can be referred to as a(n)

market segment

The first generation Samsung watch was introduced for $500. The following year the price was reduced to $450. Samsung uses a ________ strategy to price its tech products.

market-skimming

Circuit City Electronics sells three different sizes of televisions at three different prices. In this case, the company's pricing strategy is referred to as ________ pricing.

product line

Bass Pro Shops recognizes that outdoors enthusiasts are a diverse group. Likely segments include hunters, campers, and boaters. What is this segmentation method called?

psychographic

There are more than 15 wheat farmers in Bowling Green, Ohio, that grow, package, and distribute the same quality wheat. An individual farmer cannot charge more than the going market price per unit without the risk of losing business to the other farmers. This is an example of ________.

pure competition

Stores that provide very limited, if any, sales assistance because they carry convenience products which customers need very little, to no, information are called ________ retailers.

self-service

Scott and his fiancé visit several electronics stores in and around their hometown of Boston. They use their smartphones to capture information about manufacturers and pricing, and ultimately decide to purchase their favorite items online. This is referred to as ________.

showrooming

One challenge of social media marketing is that ___________.

social networks are largely user-controlled

A(n) _________ reflects the general esteem given to the different roles of a person by society.

status

In a _________, the business-to-business buyer reorders something without modifications.

straight rebuy

In a(n) ________ economy, the vast majority of people engage in simple agriculture.

subsistence

If a segment is large enough or profitable enough to serve, it is ________.

substantial

Foods International is developing a new gluten-free, chili-flavored pretzel. The marketing strategy for the product has already been developed and presented to top management. Several prototypes were also formulated by the company's R&D team. The final prototype is now being tested rigorously to ensure that it passes FDA standards. Once approved, the next step will most likely be ________.

test marketing

The group of economic factors that affect​ consumers' purchasing power and spending patterns is called​ ________.

the economic environment

Selling and advertising are part of a larger set of marketing tools that work together to satisfy customer needs and build customer relationships known as​ _____________.

the marketing mix

To create successful new products, a company must _______.

understand its consumers, markets and competitors and develop products that deliver superior value

Each PC produced by HP involves a cost of computer chips, wires, plastic, packaging, and other inputs. Although these costs tend to be the same for each unit produced, they are called ________ costs because the total changes based on the number of units produced.

variable