Tariq - Final Exam MKT 4469
The behavioral step of AIDA is ________. A. action B. interest C. aspiration D. attention E. desire
A.
___________ encompasses a societal and professional standard of right and fair practices that are expected of marketing managers in their oversight of strategy formulation, implementation, and control. A. Marketing ethics B. Price fixing C. Social responsibility D. Accreditation E. Personal selling
A.
Coca-Cola changes the taste of its soft drinks to meet local market preferences. This is an example of ________. A. direct product extension B. product adaption C. backward product invention D. product invention E. hybrid products
B.
Which form of promotion is based on unpaid communication? A. digital marketing B. public relations C. sales promotion D. advertising E. personal selling
B.
________ distribution is often part of an overall positioning strategy built on prestige, scarcity, and premium pricing. A. Selective B. Exclusive C. Convenience D. Widespread E. Intensive
B.
________ is the interactive channel that allows companies to interact with customers in three key ways. A. Context B. Communication C. Customization D. Connections E. Community
B.
________ power results from contracts such as franchise agreements or other formal agreements. A. Coercive B. Legitimate C. Expert D. Referent E. Reward
B.
MERCOSUR is a regional market zone in ________. A. Asia B. Africa C. North America D. The Mideast E. South America
E.
A value network perspective is a macro-level strategic approach that is being adopted by many firms in part because of the intense competition to cut _______ and maximize ________ every step of the way to market. A. costs; process efficiencies B. rewards; stock inventory C. labor hours; performance incentives D. employee benefits; cost control E. time inefficiencies; profits
A.
A(n) ________ is thought of as an overarching system of formal and informal relationships within which the firm participates to procure, transform and enhance, and ultimately supply its offerings in final form within a market space. A. value network B. tall organization C. virtual organization D. business conglomerate E. organic organization
A.
A(n) ________ vertical marketing system creates a powerful competitive advantage in the marketplace due to cost and process efficiencies realized when a channel is strictly controlled by one entity. A. corporate B. contractual C. distributive D. disintermediated E. administered
A.
An intermediary works with large consumer product manufacturers as well as small local retailers. The company buys large quantities of products from the manufacturers and sells them in smaller quantities to retailers to better match quantities needed for space constraints and inventory turnover requirements. The intermediary is performing the distribution function of ________. A. breaking bulk B. reverse logistics C. accumulating bulk D. assortment creation E. disintermediation
A.
CNET, Urbanspoon, and Consumersearch are examples of ___________. A. product and service review sites B. prosocial marketing C. online brand communities D. consumer blogs E. social marketing
A.
Jenn, a production manager at a company, has decided to take a value network approach to create a competitive advantage over the company's competitors. In the context of network organizations, this approach will make the company's operations more ________. A. nimble B. rigid C. static D. costly E. consistent
A.
Keisha is in charge of overseeing the flow of activities among several entities for Walmart. Her main objective is to coordinate these value-adding activities in a way that maximizes value and profit. She is in charge of ________. A. supply chain management B. physical distribution C. partner relationship management D. transaction reduction E. assortment creation
A.
Local Farmers of Tampa Bay sell their produce in the market every day. They band together to gain cost and operating economies of scale in the market for selling their produce. This is an example of a ________. A. retailer cooperative B. pull strategy C. disintermediation D. vertical integration E. customer community
A.
One drawback that is particularly relevant to ___________ is the user expectation of very quick and timely response to questions or comments. A. Twitter B. blogs C. Snapchat D. Facebook E. e-mail
A.
Perdue found that one of its chicken products may have been contaminated with bacteria, so it pulled it off the shelves and instituted a recall. This potential ethical issue was associated with which element of the marketing mix? A. product B. price C. distribution D. marketing communications E. promotion
A.
Prices of products are often higher in a foreign country than the home country due to transportation charges, taxes, tariffs, and exchange rate fluctuations. This change in price from home country to foreign country is referred to as ________. A. price escalation B. price scaling C. cost-plus pricing D. cost-based pricing E. market price
A.
Techel Electronics, a multinational company, manufactures its products in its home market, but treats the world as a single market with many segments in it. It sold televisions worth $47 million in 2017 in international markets, which was more than half of its total revenue. In the context of stages of global experience learning curve, the company is engaged in ________. A. global marketing B. no direct foreign marketing C. global partnerships D. foreign marketing E. international marketing
A.
Venus Office Supplies offers customers a $0.50 coupon for turning in their empty printer cartridges. Venus collects the cartridges and then returns them to the producer for recycling. This is an example of ________. A. reverse logistics B. inbound logistics C. outbound logistics D. order processing E. reducing transactions
A.
When distributors do not have authorization from manufacturers but divert products from low-price markets and sell them in high-price markets, they are practicing ________. A. gray market distribution B. price fixing C. dumping D. compensation trade E. offset pricing
A.
When the objective is to obtain maximum product exposure throughout the channel, a(n) ________ strategy is designed to saturate every possible intermediary. A. intensive distribution B. partnership relationship management C. materials requirement planning D. selective distribution E. exclusive distribution
A.
Which of the following channel strategies helps in increasing the efficiency of local distribution systems by eliminating unnecessary middlemen? A. cost B. coverage C. character D. continuity E. control
A.
Which of the following has no intermediaries and operates strictly from producer to end-user consumer or business user? A. direct channel B. exclusive distribution C. virtual network D. physical distribution E. indirect channel
A.
Which of the following is NOT one of the forces that drives countries to form regional market zones? A. religious values B. geographic proximity C. economic D. cultural similarities E. political
A.
________ implies that many of the promotional activities take place from the manufacturer downward through the channel of distribution. A. A push strategy B. An exclusive distribution C. An intensive distribution D. A selective distribution E. A pull strategy
A.
________ occurs when channel members experience disagreements and their relationship becomes strained. A. Channel conflict B. Disintermediation C. Vertical integration D. Outsourcing E. Stock-out
A.
________, one of the seven dimensions used by researchers to define a website interface, is a site's ability to enable transactions. A. Commerce B. Community C. Content D. Connections E. Communication
A.
__________ is the net benefits (or costs) associated with a product or service, and it is affected by the buyer's trust that the company will keep its promises. A. Value B. Outlay C. Exchange D. Accreditation E. Gain
A.
A push strategy usually relies on a combination of sales promotion and ________ directed toward channel members. A. public relations B. personal selling C. indirect marketing D. virtual marketing E. social media promotion
B.
Cho was in need of a new job after being laid off. Her friend suggested she put her resume on __________, a social media site geared toward working professionals and companies who use it for recruiting. A. Reddit.com B. LinkedIn C. Twitter D. Facebook E. Google Plus
B.
Herbie recently read that Crane Airways of Japan, Kestrel Airlines of Germany, Heron Air of Australia, and Egret Airways of India have code sharing partnership, which allows passengers to fly on any of the airlines, share frequent flyer miles, and give each other logistical support. Herbie had just learned in his Global Marketing class that this arrangement is known as a(n) ________. A. franchising B. strategic alliance C. green field project D. acquisition E. licensing
B.
In addition to the company's primary website, many companies create smaller, more focused sites that deal with specific topics such as new product introductions or targeted products within a large product portfolio known as ________. A. blogs B. microsites C. micro blog sites D. profiles E. social networking sites
B.
Intermediaries engage in ________ when they accumulate products from several sources and then make those products available down the channel as a convenience for consumers. A. facilitating functions B. creating assortments C. disintermediation D. transportation and storage functions E. reducing transactions
B.
Latosha was thrilled when she found a low-cost airfare to Moscow, but she was not happy when she bought the tickets and realized there were hundreds of dollars in added fees. Which element of the marketing mix was impacted? A. product B. price C. distribution D. marketing communications E. promotion
B.
NAFTA is a market zone that eliminates tariffs between the United States and ________. A. Canada, Mexico, and Costa Rica B. Canada and Mexico C. Mexico, Honduras, Nicaragua, Costa Rica, and Panama D. Canada, Mexico, Costa Rica, and Panama E. Canada, Costa Rica, and Panama
B.
Nadia works for a major soda distributor. The company decides to buy a transportation company to move its product from its own manufacturing facility to the consumer. This is an example of a(n) ________ vertical marketing system. A. private B. corporate C. intermediated D. contractual E. administered
B.
People around the world prefer Swiss watches over watches manufactured in other countries. In the context of product issues, which of the following best describes the customer's perception? A. brand strategy B. country-of-origin effect C. quality D. fitting the product to the culture E. manufacturing
B.
Steve wants to gift a box of chocolates to his best friend. He walks into a store and buys Belgian chocolates because his friend once mentioned that they are the best in the world. This is an example of how consumers respond to ________. A. brand strategy B. country-of-origin effect C. quality D. fitting the product to the culture E. price
B.
The color red means different things in different parts of the world. For example, in China, a bride traditionally would wear red but not white. White is a symbol of death. This would be identified in the ________ section of a global market research report. A. economic B. cultural, societal trends C. business environment D. political, legal E. history, geography
B.
The development of promotional strategies most likely involves decisions about ________. A. acceptable ROI for the customer B. elements in the promotion mix C. price promotions D. customer service response E. product development
B.
What is the final element the marketing manager should implement in promotional strategy? A. select the promotion mix B. establish measures of results C. identify targets for promotion D. develop the message E. prepare promotion budget
B.
________ refers to companies handing over most or all of their supply chain activities to third-party organizations that are experts in those areas. A. Breaking bulk B. Outsourcing C. Creating assortments D. Disintermediation
B.
A manufacturer employing a pull strategy would engage in ________. A. investing in intermediaries B. offering shelf fee to intermediaries C. advertising in mass media D. offering discounts to wholesalers E. paying slotting allowances
C.
A recent study found that about 70 percent of Americans consult either a user review site or an independent review site before ___________. A. beginning the shopping process B. believing advertising C. making a purchase D. posting product information on social media E. using a product
C.
An example of a contractual vertical marketing system is ________. A. e-tailing B. wholesaling C. franchising D. retailing E. stocking
C.
Brianna is a marketing manager who wants to have a strong two-way communication of ideas with customers and she considers it very important to directly ease customer confusion and persuade them to purchase. She does not care much about whether the cost per customer contact will be expensive. Based on the manager's consideration, ________ will be the most appropriate promotional form. A. sales promotion B. advertising C. personal selling D. viral marketing E. direct marketing
C.
Charging a price that is lower than actual costs or less than the company charges in its home market is called ________. A. gray marketing B. price fixing C. dumping D. compensation trading E. offset pricing
C.
Core Inc., a dealer of electronic items, enjoys economies of scale due to its large buying and selling operations and controls many aspects of the channel's operations. As a consequence of this, the company enjoys tremendous power in the market. In the context of administered vertical marketing systems, Core Inc. is a(n)________. A. franchise organization B. wholesaler cooperative C. channel captain D. retailer cooperative E. agent intermediary
C.
Firms that manufacture in a foreign market and maintain an extensive sales organization and distribution network but have a "domestic first" mind-set are probably engaged in ________ marketing. A. organic B. buzz C. international D. viral E. local
C.
Intensive distribution is typically associated with low-cost ________. A. industrial goods B. machine tools C. convenience goods D. manufacturing tools E. heavy equipment
C.
Outdated cell phones used in Europe or Asia have been introduced into the Latin American markets that don't have more updated models. This is an example of ________. A. forward extension B. product adaption C. backward invention D. product extension E. hybrid products
C.
Sam is flying to Rio de Janeiro, Brazil, to meet with a prospective customer. He wants to learn the ethical standards, degree of formality, and gender biases of the country. Which of the following types of information will help Sam to accomplish his task? A. economic B. demographic C. business environment D. political and legal E. geography
C.
The ________ industry best illustrates the power of strategic alliances. A. automobile B. telecommunications C. airline D. computer E. video gaming
C.
The motivating force for suppliers to work with large chain stores is that the stores can offer huge ________ power in the form of writing big orders. A. coercive B. referent C. reward D. legitimate E. expert
C.
Which of the following is NOT a part of the promotion mix? A. personal selling B. advertising C. pricing D. sales promotion E. public relations
C.
________ is the point of contact in the supply chain with the consumer of the product. A. Stocking B. Feedback C. Retailing D. Wholesaling E. Promotion
C.
________ power is NOT a source of channel power. A. Legitimate B. Expert C. Consumers D. Referent E. Reward
C.
________ represent an exporting firm in a foreign market. They become the face of a company through servicing customers, selling products, and receiving payment. They often take title to the goods and resell them. A. Brokers B. Export agents C. Distributors D. Direct sales force E. Freight forwarders
C.
A ________ is the highest-potential start-up and growth mechanism for small-business owners, and it is an effective way to expand a distribution channel quickly and efficiently. A. wholesaler cooperative B. channel captain C. partner relationship management (PRM) strategy D. franchise operation E. retailer cooperative
D.
A manufacturer employing a(n) ________ strategy focuses much of its promotional investment on the end-user consumer. A. selective distribution B. push C. exclusive distribution D. pull E. limited distribution
D.
A marketing manager wants to build a strong relationship with the customers and to customize messages without high costs. He understands that relationship building and message customization would require constant updating of the database due to the reliance on CRM and he plans to hire staff to make sure the database stays up to date. Based on the manager's consideration, ________ will be the most appropriate promotion mix element. A. sales promotion B. advertising C. personal selling D. digital and social media marketing E. public relations and covert advertising
D.
A stationary store offers a 5 percent discount on pens and pencils to students if they agree to purchase all the books needed for the academic year from the store. This is an example of a(n) ________. A. exclusive territory B. pull strategy C. intermediary contract D. tying contract E. exclusive dealing
D.
A technology or high-end industrial product company is most likely to use a(n) ________ in foreign markets because customers expect the expertise of highly-trained, accessible personnel. A. broker B. export agent C. distributor D. direct sales force E. freight forwarder
D.
A(n) ________ contains one or more intermediary levels. A. virtual organization B. channel community C. direct channel D. indirect channel E. network organization
D.
An understanding of marketing beyond home markets develops over time as a company gets more international business experience. This process is referred to as the ________. A. global acceptance curve B. global learning continuum C. international experience learning curve D. global experience learning curve E. international experience continuum
D.
Bistrone corn canned soup was made expressly for the Japanese market by Coca-Cola Japan. This is an example of ________. A. direct product extension B. product adaptation C. backward product adaption D. product invention E. hybrid products
D.
Carrie maintains a cooking blog, and she often mentions products by name if she feels they are especially nutritional and easy to obtain. This is an example of ___________ media. A. paid B. owned C. free D. earned E. display
D.
Channel members add their value by bridging gaps in form, time, place, and ownership that naturally exist between ________. A. producers and retailers B. consumers and transporters C. facilitating agents and transporters D. producers and consumers E. distributors and agents
D.
Coca-Cola introduced a new product called Diet Coke in Japan. Sales of this product were low in the initial stages because Japanese women associated the word diet with weakness; however, changing the name of the product from Diet Coke to Coke Light proved effective. Which of the following product issues affected the sales of Diet Coke in this scenario? A. brand strategy B. country-of-origin effect C. quality D. fitting the product to the culture E. manufacturing
D.
Ford Motor Co. introduced its automobile called Nova in Mexico. It faced difficulty in selling the car because "Nova" in Spanish means "It doesn't go." This illustrates a problem with ________. A. brand strategy B. country-of-origin effect C. quality D. fitting the product to the culture E. manufacturing
D.
In an administered vertical marketing system, the sheer size and power of one of the intermediaries places it in a position of control. The lead player in such situations may be referred to as the ________. A. virtual organization B. network organization C. wholesaler cooperative D. channel captain E. retailer cooperative
D.
John, the CEO of Tresnel Inc., learns that the government of one of his company's foreign markets has enacted a new law that limits the amount of profit it can make. He projects that this will result in future losses. If John researches the ________ environment, he can plan a strategy to deal with this situation. A. economic B. cultural and societal C. business D. political and legal E. geographical
D.
Many countries base their court systems on those of former rulers. For example, the Spanish ruled many South American countries; therefore, the court system is based on code or civil law. This would be identified in the ________ section of a global market research report. A. economic B. cultural, societal C. business environment D. political, legal E. history, geography
D.
Many countries restrict marketing to children more severely than in the United States. A firm considering direct foreign investment would report this finding under the heading of ________. A. technology transfer B. legal issues C. transactions costs D. marketing communication barriers E. product differentiation
D.
NaviCal Inc., a personal navigation system company, has contracted its manufacturing to a firm in Malaysia for five years. NaviCal had high financial growth, and it wants to purchase the manufacturing facility. This market entry method is called ________. A. franchising B. strategic alliance C. joint venture D. direct foreign investment E. licensing
D.
P&G solicits meaningful interaction from customers on its website rather than at independent sites. P&G recognizes the value of ___________. A. social marketing B. viral marketing C. prosocial marketing D. online brand communities E. digital reliance
D.
Phillippe needs to fire a manager of a French subsidiary of his company. He recently found that French law makes it difficult to terminate employees. This would be identified in the ________ section of a global market research report. A. economic B. cultural, societal C. business environment D. political, legal E. history, geography
D.
The primary organizational patterns employed by organizations around the world are ________. A. highly decentralized, decentralized, and centralized B. highly centralized, centralized, and decentralized C. regionalized, highly regionalized, and centralized D. decentralized, centralized, and regionalized E. regionalized, moderately decentralized, and centralized
D.
The task of handling crises and giving the company's perspective to news organizations belongs in the ________ element of marketing communications. A. advertising B. personal selling C. sales promotion D. public relations E. direct marketing
D.
The text discusses the triple bottom line metric, and outlines an approach to consider the impact of TBL in marketing management. This includes people, planet, and ________. A. community B. environment C. product D. profit E. promotion
D.
Well-established distributors in a marketing channel often have relationships with competitors. In the context of market channels, which of the following channel strategies corresponds to this issue? A. capital B. coverage C. character D. continuity E. control
D.
________ is the most common method for entering foreign markets. A. Direct foreign investment B. Licensing C. Franchising D. Exporting E. Joint ventures
D.
________ power involves an explicit or implicit threat that a channel captain will invoke negative consequences on a channel member if it does not comply with the leader's request or expectations. A. Referent B. Reward C. Legitimate D. Coercive E. Expert
D.
________ strategies can be intensive, selective, or exclusive. A. Referent B. Assortment C. Disintermediation D. Distribution E. Virtual
D.
A channel of distribution consists of interdependent entities that ________. A. fix the price of a product to create monopoly B. experience inefficiencies in business processes C. develop new products D. include members of the same market segment E. transfer possession of a product from producer to consumer
E.
A virtual organization is otherwise known as a ________ organization. A. bureaucratic B. boundaryless C. flat D. tall E. network
E.
An example of a push strategy is ________. A. utilizing newspaper advertising B. employing direct marketing C. using television advertising D. organizing couponing campaigns E. paying a shelf fee
E.
At the ________ stage of the AIDA model, marketing managers mostly use promotions to gain awareness of the offering with the market's innovators and early adopters. A. attitude B. action C. desire D. interest E. attention
E.
If a seller requires an intermediary to purchase a supplementary product to qualify to purchase the primary product the intermediary wishes to buy, it results in ________. A. vertical integration B. exclusive dealing C. channel disintermediation D. exclusive territory E. a tying contract
E.
In a push strategy, the focus is on ________. A. stimulating demand for an offering directly from the end user B. end users C. end users who drive the distribution of the new product D. members who typically rely on advertising E. members of the channel who are targeted for promotion
E.
Introducing an intermediary into a channel may contribute to ________ that are necessary to complete an exchange. A. facilitating functions B. transportation and storage functions C. creating assortments D. disintermediations E. reducing transactions
E.
Most global marketers rely on local distribution networks in foreign markets. This is because it is very expensive to build a company's own distribution network in a foreign market. This issue can be identified in the channel strategy of ________. A. change B. coverage C. character D. continuity E. control
E.
The American Marketing Association's code of ethics speaks to six primary ethical values: honesty, responsibility, fairness, respect, transparency, and ___________. A. social conscience B. loyalty C. consumer-orientation D. sustainability E. citizenship
E.
The goal of ________ is to share resources, especially knowledge-based resources, to effect optimally profitable relationships between two channel members. A. materials requirement planning (MRP) B. push strategies C. enterprise resource planning (ERP) D. pull strategies E. partner relationship management (PRM) strategies
E.
What area in marketing presents the most ethical challenges? A. product B. price C. distribution D. marketing communications E. promotion
E.
________ enhance utilities by providing a wide array of specific functions including physical distribution functions, transaction and communication functions, and facilitating functions. A. Value networks B. Direct channels C. Indirect channels D. Pull strategies E. Channel intermediaries
E.
________ is the degree to which any member of a marketing channel can exercise influence over the other members of the channel. A. Disintermediation B. Exclusive power C. Assortment D. distribution intensity E. Channel power
E.
________, one of the seven dimensions used by researchers to define a website interface, refers to the overall layout, design, and aesthetic appeal of a site. A. Content B. Commerce C. Customization D. Community E. Context
E.
