chap 11-13 intro business

T/F In the context of the various modes of transportation,sending products by ship is the most expensive option available to producers.

F

TRUE/FALSE Shopping products are the inexpensive goods and services that consumers buy frequently with limited consideration and analysis.

FALSE

TrUe/FaLsE Supply chain management is a subset of logistics that focuses more on tactics than on strategy.

FaLsE

Which of the following is a traditional promotional tool?

Public relations

Which of the following statements is true of augmented products?

They are additional goods or services that are attached to the main purchase or actual good.

In the context of limited-service merchant wholesalers, which of the following statements is true of cash and carry wholesalers?

They require customers to make the trip to the wholesaler themselves and cart their own products back to their stores.

In the context of prestige pricing, skimming works only when:

a product is tough to copy in terms of design, brand image, technology, or some other attribute.

For successful product differentiation, _____.

a product should not only be different from its competitor products but also be better

A product has three product layers. They are:

core benefit, actual product, and augmented product.

true/false In the context of marketing research, secondary data is existing data that marketers gather or purchase for a research project.

true

__ is created when your customers believe that your product has a better relationship between the cost and the benefits than any competitor.

value

In the context of emerging promotional tools, which of the following is a popular term for buzz marketing?

viral marketing

Which of the following statements is true of customer relationship management (CRM)?

CRM can be done without collecting, managing, and applying data.

In the context of product adoption and diffusion, which of the following questions relates to the product characteristic of complexity?

Can potential consumers easily understand what your product is and how it works?

Who among the following individuals is practicing green marketing?

Claire, who sells solar-powered watches

Which of the following is the rationale behind using the approach of integrated marketing communication?

Consumers do not think about the specific source of a message, but they instead combine the messages from all the sources to create a coherent impression about the product.

Which of the following statements is true of customer loyalty?

Customer loyalty generates customer satisfaction.

Which of the following is a difference between demographic segmentation and geographic segmentation?

Demographic segmentation refers to dividing the market based on measurable characteristics about people, whereas geographic segmentation refers to dividing the market based on where consumers live.

In the context of product adoption and diffusion, which of the following questions relates to the product characteristic of relative advantage?

How much better are the benefits of your new product compared to existing products?

In the context of primary research tools, which of the following is an advantage of observation research over survey research?

It allows you to notice what people actually do and not what they say they do.

Identify a true statement about loss-leader pricing.

Retailers place a handful of items that are priced temporarily below cost at the back of their store.

Which of the following exemplifies a discontinuous innovation?

Shinzen Labs, a food analysis and research laboratory, develops a food packaging material that repels bugs and rodents.

___ includes all organizations, processes, and activities involved in the flow of goods from the raw materials to the final consumer.

Supply chain

T/F Form utility satisfies wants by converting inputs into a finished form.

T

True/False In the context of business products, the marketing tactics of maintenance products emphasize efficiency.

True

True/FalseIn the context of the distribution strategy of a product, no one stands between the producer and the customer in a direct distribution channel.

True

An example of a pure good is:

a dual-colored reversible jacket

___ is paid, nonpersonal communication, designed to influence a target audience with regard to a product, service, organization, or idea.

advertising

In the context of market segmentation, a well-chosen target market should have _____.

an appropriate size??anonprofit motive??

An advantage of licensing is:

an established reputation.

The purpose of a positioning statement of a company is to:

articulate how the company would like the target market to envision a product relative to the competition.

In the context of consumer marketers (B2C), _____ refers to dividing the market based on how people react toward various products.

behavioral segmentation

An advantage of cobranding is that:

both partners leverage their strengths to enter new markets.

Blue Legion, a well-known jeans manufacturer, is the main sponsor for a rock concert. Although the tickets to the concert are exorbitantly priced, the public feels that since the concert is being sponsored by a company like Blue Legion, it must be worth it. The scenario illustrates that Blue Legion has a good _____.

brand equity

Penetration pricing is a strategy where:

each individual sale typically yields a tiny profit.

t/f Cognitive dissonance is the payoff for delivering value and generating satisfaction.

f

true/false People marketing involves drawing people to a particular place.

false

In the context of breakeven analysis,_____ remain constant regardless of how many products are sold.

fixed cost

In the context of marketing research data, an example of primary data is _____.

focus group

In the context of consumer pricing perceptions, odd pricing creates a perception of:

greater value

Companies use marketing research to:

identify external opportunities and threats.

In the context of fixed margin pricing, which of the following statements is true of the profit margin?

it is often expressed as a percent

In the context of a new product, the sales of the product most likely peak during the _____ of its life cycle.

maturity stage

Businesses adopt and identify target markets for their products to:

maximize the impact of the cost of marketing.

Demographic segmentation divides the market based on:

measurable characteristics about people.

In the context of the marketing mix, _____ decisions range from brand name, to product image, to package design, to customer service, to guarantees, to new product development, and more.

product strategy

A health-drink company faces a lot of flak for misquoting the nutritional facts on its product packages. Once it clears the charges, the company hires a firm that helps it in reviving a positive image in the media as well as the broader community. The firm's primary task is to constantly communicate with the media personnel and make sure that the media runs unpaid stories that create a favorable impression about the company. This scenario exemplifies the use of:

public relations.

__refers to how well a product performs its core function.

quality level

t/f Cannibalization occurs when a producer offers a new product that takes sales away from its existing products.

t

____ is designed to stimulate wholesalers and retailers to push specific products more aggressively over the short term.

trade promotion