Marketing 301 Final Prep

Which of the following is an external source for ideas? Question options: A) suppliers B) salespeople C) engineers D) manufacturing staff E) project managers

A

Home Depot and PetSmart are examples of ________. Question options: A) factory outlets B) category killers C) superstores D) warehouse clubs E) off-price retailers

B

New product development starts with ________. Question options: A) test marketing B) idea generation C) concept testing D) concept development E) idea screening

B

________ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. Question options: A) Capital items B) Convenience products C) Unsought products D) Specialty products E) Shopping products

D

Which of the following is an internal source for new product ideas? Question options: A) trade magazines B) government agencies C) marketing research firms D) competitors E) company executives

E

________ includes all activities involved in selling goods and services to those buying for resale or business use. Question options: A) Retailing B) Showrooming C) Franchising D) Discounting E) Wholesaling

E

________ involves using in-store promotions and advertising to extend brand equity to "the last mile" and encourage favorable point-of-purchase decisions. Question options: A) Differentiation B) Social media marketing C) Retailer marketing D) Segmentation E) Shopper marketing

E

Using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts is known as complex selling. Question options: True False

False

A firm can obtain new products through acquisition or new product development efforts. Question options: True False

True

Disintermediation occurs when radically new types of channel intermediaries displace traditional ones. Question options: True False

True

During the presentation step of the selling process, the salesperson tells the "value story" to the buyer, showing how the company's offer solves the customer's problems. Question options: True False

True

For customers, the benefits of direct marketing are being able to shop online anytime and anywhere. Question options: True False

True

A(n) ________ is designed to present brand content that engages consumers and creates customer-brand community. Question options: A) branded community Web site B) search engine C) digital catalog D) online magazine E) podcast

a

Product improvements, product modifications, and original products can all be classified as ________. Question options: A) new products B) test products C) prototypes D) blueprints E) product extensions

a

Which of the following is true with regard to value selling? Question options: A) Value selling refers to delivering superior customer value and capturing a fair return on that value. B) Value selling tarnishes the brand image of a product in the long run. C) Value selling dilutes customer loyalty in the long run. D) Value selling refers to the mass production of inferior-quality goods for sale. E) Value selling refers to earning business from customers by cutting down prices of value products.

a

Which of the following stages in the new product development would a firm engage in immediately after the completion of concept testing? Question options: A) marketing strategy development B) idea screening C) product development D) business analysis E) idea generation

a

Which of the following statements best explains why idea screening may be the most important step of new product development? Question options: A) It saves the company money in product development costs by going ahead with only the product ideas that are likely to be profitable. B) It helps forecast the products' sales and profits accurately for a specific period. C) It gives research and development team members an opportunity to gather consumer feedback. D) It provides an opportunity for the marketer to test the prototype in a simulated market. E) It increases the number of ideas generated.

a

All of the following are forms of traditional direct marketing EXCEPT ________. Question options: A) telemarketing B) point-of-purchase promotion C) personal selling D) direct-mail marketing E) kiosk marketing

b

Which of the following is a common reason for new product failure? Question options: A) low selling prices of products B) incorrect estimation of the market size C) patent ownership exclusively held by the company D) ineffective social marketing campaigns E) low product development costs

b

Which of the following refers to the course that a product's sales and profits take over its lifetime? Question options: A) product mix B) product life cycle C) total product process D) marketing mix E) service life

b

________ is defined as analyzing, planning, implementing, and controlling sales force activities. Question options: A) Business intelligence B) Sales force management C) Sales force automation D) Sampling E) Benchmarking

b

BONUS QUESTION: An integrated social marketing campaign likely could include all of the following except ________. Question options: A) Twitter postings B) Instagram photos C) iTunes podcasts D) YouTube videos E) Facebook pages

c

Product planners need to consider products and services on three levels. At the third level, product planners must build ________. Question options: A) a brand personality B) core customer value C) an augmented product D) an actual product E) a basic product

c

________ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. Question options: A) Liabilities B) Brands C) Services D) Specialty products E) Consumer products

c

A ________ is made up of the company, suppliers, distributors, and customers who partner to improve the performance of the entire system. Question options: A) product line B) product delivery network C) horizontal channel D) value delivery network E) consumer base

d

A(n) ________ is an individual who represents a company to customers by prospecting, communicating, selling, servicing, information gathering, and/or relationship building. Question options: A) auditor B) trainer C) human resource personnel D) salesperson E) manager

d

At its most basic form, a marketing channel consists of the producer and the ________. Question options: A) competitor B) retailer C) sales agent D) consumer E)

d

In the ________, each salesperson is assigned to an exclusive geographic area and sells the company's full line of products or services to all customers in that region. Question options: A) geographical operations system B) product sales force structure C) customer sales force structure D) territorial sales force structure E) digital marketing system

d

Which of the following is true about the sales force of a company? Question options: A) The sales force oversees the auditing process and recovers money from defaulting customers. B) The primary responsibility of a sales force is to formulate operational strategies. C) The sales force is responsible for product development and product strategy. D) Salespeople represent customers to the company and manage the buyer-seller relationship. E) Salespeople represent workers' interests to upper management.

d

Which of the following is true with regard to the inside sales force of a company? Question options: A) The inside sales force is far more knowledgeable about customer habits than are outside salespeople. B) Unlike the outside sales force, the inside sales force does not require training. C) Inside sales representatives engage in face-to-face interaction with customers. D) Inside salespeople provide support for the outside sales force, freeing them to spend more time selling to major accounts and finding new prospects. E) The inside sales force is invariably more attentive to customer needs than the outside sales force.

d

Which of the following is used to generate business leads, stimulate purchases, reward customers, and motivate salespeople? Question options: A) SWOT analysis B) business plan C) benchmarking D) business promotion E) POP promotion

d

Which of the following statements is true of the new product development process? Question options: A) Under the business analysis stage, if the new product satisfies the company's objectives, the product then moves to the product development stage. B) Commercialization is the process of inviting broad communities of people such as customers, employees, and scientists into the new product innovation process. C) The purpose of the idea screening stage is to create a large number of ideas. D) A product concept is the way consumers perceive an actual or potential product.

d

Yummy Peanut Butter created a new coconut-flavored peanut butter that it tested in a small number of representative cities. The company plans to use the results to forecast national sales and profits. Which of the following did the firm use? Question options: A) ambush marketing B) simulated test markets C) controlled test markets D) standard test markets E) affinity marketing

d

________ consists of short-term incentives to encourage the purchase of a product or service. Question options: A) Conditional sale B) Value selling C) Advertising D) Sales promotion E) Benchmarking

d

Amazon.com and GEICO approach customers via Web sites or mobile apps. This is an example of ________ marketing. Question options: A) multi-level B) mass C) individual D) niche E) direct

e

Which of the following best explains why companies are adopting the team selling approach to service large, complex accounts? Question options: A) With team selling, companies are not required to train the outside sales force any longer. B) Job rotation, an integral part of team selling, keeps workers motivated and boosts their morale. C) Products have become too complicated for one salesperson to handle a large company's needs. D) Customers prefer dealing with many salespeople rather than one sales representative. E) Team selling facilitates the evaluation of individual contributions.

e

Which of the following is the first step in the personal selling process? Question options: A) presentation and demonstration B) preapproach C) follow-up D) handling objections E) prospecting and qualifying

e

Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits? Question options: A) product development B) introduction C) maturity D) decline E) growth

e

________ are designed to engage consumers in interactions that will move them closer to a direct purchase or other marketing outcome. Question options: A) Online magazines B) Digital catalogs C) Podcasts D) Search engines E) Marketing Web sites

e

________ marketing features marketing messages and promotions delivered to on-the-go consumers through their handheld devices. Question options: A) Direct-mail B) Ambush C) Catalog D) Kiosk E) Mobile

e

________ refers to the sales step in which a salesperson asks the customer for an order. Question options: A) Handling objections B) Approach C) Prospecting D) Demonstration E) Closing

e