MAR 255 test 3 Syracuse
UPS charges different pricing for shipping depending on an item's destination. The more distant the city the package is being shipped to, the higher the price UPS charges. Which geographic pricing method is ups using.
Zone pricing
Countries can set ________, which is a limit on the amount of foreign imports that they will accept in certain product categories.
a quota
McDonald's operates the same basic fast-food look, layout, and operating model in its restaurants around the world but ________ its menu and design to local tastes.
adapts
Margaret has ben 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 wine as _________?
an indicator of quality
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
Venezuela produces oil in surplus, whereas Guyana produces rice in surplus and El Salvador produces coffee in surplus. These nations have little hard currency to pay for purchases from other countries and frequently exchange involves a(n) ________.
barter
Gillete charges a fairly low priced for it racers (relative to costs) and a higher price for razor blades. It is using a strategy of______ pricing.
captive-product
In the whole-channel view of distribution, the first link, ________, moves company products from points of production to the borders of countries within which they are sold.
channels between nations
In the whole-channel view of distribution, the second link, _________, moves products from their market entry points to the final consumers.
channels within nations
The biggest involvement in a foreign market comes through ________ of the development of foreign-based assembly or manufacturing facilities.
direct investment
Companies that us __________ continually adjust prices to meet the characteristics and needs of individual customers and situations.
dynamic pricing
In a(n) __________economy, fast growth in manufacturing results in rapid overall economic growth.
emerging
The simplest way to enter a foreign market is through ________.
exporting
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
Many companies get involved in several international markets and ventures. They can be __________, with country managers who are responsible for salespeople, sales branches, distributors, and licensees in their respective countries.
geographical organizations
Twenty-Four7, a cosmetic firm located in the United States, markets its products in Asian and European countries through independent distributors. In this case, Twenty-Four7 has entered international markets through ________.
indirect exporting
To develop needed information, marketing information systems utilize _________.
internal databases, marketing intelligence, and marketing research
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
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
Competitive marketing intelligence uses _________ data sources.
publicly available
The purpose of a tariff is to ________.
raise revenue
A researcher must always evaluate secondary information carefully; however, the researcher does not need to ensure the evaluation is _________.
subjective
In a(n) ________ economy, the vast majority of people engage in simple agriculture.
subsistence
Competitive marketing intelligence is primarily responsible for _____________.
the systematic collection and analysis of publicly available information
Any contact between a customer and a company is called a(n) _________.
touch point
Which of the following is true regarding initiating price cuts
wherever possible, the company should consider way to meet higher costs or demand without raising prices.
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
A colleague needs to collect descriptive data about his customer's attitudes. He has not done this type of research before. What research approach would you recommend to best suit this research project?
A survey
Cupcakes by Cindy is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST place for this company to start to develop an efficient MIS?
Assess the information needs of the company.
________ involve(s) the direct exchange of goods and services.
Barter
Which kind of company would most benefit from conducting marketing research?
Both large multinationals like Disney and IBM and small locals truly need market research.
Which of the following is a cost-oriented price approach
Breakeven Pricing
_________ is a geographic characteristic indicator of market potential.
Climate
A company is conducting market research to determine the best areas to sell its product. It has already determined its research questions. What is the next step of this company's research plan?
Collect the data.
________ is a global communication strategy of fully adapting advertising messages to local markets.
Communication adaptation
Which of the following is NOT a step in the marketing research process?
Comparing research findings to other studies
________ Refers to the setting price based on buyers perception of value rather than on the sellers cost.
Costumer value-based pricing
________ is a geographic characteristic of market potential.
Country size
Sky owns a small hot air balloon company in Albuquerque, New Mexico. He recently started a Facebook page for his company and many of his customers are asking for store-sponsored hot air balloon trips. They believe Sky's expertise would make him the perfect guide. Sky decides to host quarterly hot air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from Sky's situation?
Customer insights can provide valuable information to a small businesses.
Which of the following statements is true regarding initiating price cuts?
Cutting prices in an industry loaded with excess capacity may lead to price wars.
Which of the following statements is true regarding oligpolostic competition ?
Each seller is alert and responsive to competitors' pricing strategies and marketing moves.
_________ is a demographic characteristic.
Education
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
Which of the following is true regarding the price-demand relationship?
If demand is elastic, sellers will consider lowering the price.
________ economies are major exporters of manufactured goods, services, and investment funds.
Industrial
An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his job?
Inform customers of the company's privacy policy.
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 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
When apple computer company introduced its iphone, it priced the new product at $599, considerably higher than their ipod or competing cellular phones, Apple Computer was pursuing a ________ New product strategy
Market-skimming
_______ 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
Which of the following BEST describes the research relationships?
Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research.
Which of the following statements about big data is correct?
One result of big data is that marketing managers are often overloaded and overwhelmed with information.
Which of the following statements about online research is correct?
Online surveys generally have higher response rates than those conducted by mail or phone.
A car buyer can choose a base model at one price, or one with a premium sound and navigastion system at a higher price. This is an example of ________ pricing?
Optional- product
_______ is(are) demographic characteristic indicators of market potential.
Population size and growth
Selling below cost with the intention of punishing a competitor or gaining higher long-run profits by putting competitors out if business is an illegal practice called______?
Predatory Pricing
In the whole-channel concept for international marketing, which of the following is NOT a global value delivery network?
Price escalation
________ is when a company adds the cost of transportation, tariffs, importer margin, wholesaler margin, and retailer margin to its factory price.
Price escalation
Over the years, U.S. air carriers have been accused numerous times of collusion when setting prices. This illegal practice is called_______?
Price fixing
________ involves changing the products to meet local requirements, conditions, or wants.
Product adaptation
The ford mustang is offered in several different models. Ford will use _______ pricing to determine the price steps between the different models.
Product line
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 stores. This is an example of________ pricing.
Promotional
Which of the following would be good advice for someone that is conducting marketing research in a foreign country?
Reaching respondents in other parts of the world is more difficult than it is in the U.S.
Which of the following is a potentially effective action a company could take in response to a competitor price cut?
Reduce price
Lydia's Lights wants to extend its market into Mexico. Before jumping in, the company needs to conduct some in-depth research to gauge customer's needs, interests, and buying patterns. Which of the following is the BEST option for Lydia's Lights?
Send researchers door-to-door to collect the data from target consumers.
Geared2Beer a craft beer brand, identifies a market segment that is willing to pay premium prices for its craft beer, and Geared2Beer managers select an ideal selling price. Managers then determine the costs to create a craft beer that meets the ideal selling price. The company's pricing approach is referred to as_________?
Target costing
Internal Factors that affect pricing include_______?
The company's overall marketing strategy, objectives, and marketing mix.
Which of the following BEST describes the purpose of the customer insights team?
To create more value for customers
Why is it important for a company to collect both primary and secondary data when conducting marketing research?
To have a "full picture" of the subject of its study
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
One major objective associated with a market-penetration pricing strategy is to______?
Win a large market share
What is MIS?
A marketing information system
Which of the following is a demographic factor indicator of market potential?
Education
_________ offer(s) few market opportunities.
Subsistence economies