Marketing Exam #2

Behavioral segmentation divides consumers according to

how they behave with or act towards products.

In supply chains,

information flows both upstream and downstream.

A new product is in the introductory stage of the product life cycle. When the marketing manager designs the advertising plan for this product, it will most likely be _____Blank advertising.

informative

Nintendo has just come out with a new video game. The company wants to develop demand for the product before the holiday shopping season, so it is focusing on advertising the features of the game and how it is different from other games on the market. What type of advertising would be best for building demand for this product?

informative

Personal selling is more effective when the good or service is

infrequently purchased.

What is the promotional strategy that involves coordinating the various promotion mix elements to provide consumers with a clear and consistent message about a firm's products?

integrated marketing communications

XYZ Company has found that when departments communicate and work together to manage supply and demand, they are more effective. This is called

internal collaboration.

What is an important component in determining psychographic characteristics?

lifestyles

What activity involves delivering the right product, to the right place, to the right customer, at the right time, in the right quantity, in the right condition, and at the right price?

logistics

A firm that uses a push supply-chain strategy is most likely to

manufacture products before it receives any orders for those products.

It has been Mei's dream to open a bakery, and while she has experience in making all types of baked goods, she always gets rave reviews for her hand-decorated cakes. So, rather than open a bakery that offers a wide variety of baked goods, Mei has decided to open a specialty cake shop to cater to that market only. This is an example of

market segmentation.

The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is referred to as

market segmentation.

Which product category makes up the smallest percentage of new products but carries the most potential (and risk) for the company introducing them?

new-to-the-market products

Talia was searching online for a home to rent on a vacation. Later, when she was checking her email, she noticed an advertisement for a vacation rental company appeared on the side of her screen; she clicked on it to get more information. This is an example of

paid display advertising.

The two-way flow of communication between a buyer and a seller that is paid for by the seller and seeks to influence the buyer's purchase decision is referred to as

personal selling.

Campbell's offers consumers many choices of canned soups. This group of related products marketed by Campbell's is its

product line.

A marketer who is able to get its product to be used by an actor in a movie is benefitting from

product placement.

All the activities that communicate the value of a product and persuade customers to buy it are referred to as

promotion.

Which step in the personal-selling process takes place in advance of the sale?

prospecting

The goal of an integrated marketing communications strategy is to coordinate the various promotion mix elements to

provide consumers with a clear and consistent message about the firm's products.

Angela, a salesperson for a sheet metal manufacturer, has worked with her top client, Wisconsin Fabricators, for years. She handles all their orders and resolves issues as they come up. A few times, Angela has even served as a consultant to Wisconsin Fabricators when they needed materials to produce a specialized project. Angela is involved in

relationship selling.

Samika has been calling on the same customer for years. She handles all of the company's orders and quickly resolves any issues that may come up. On occasion, Samika takes some of the company employees out to dinner and has even given them tickets to local concerts. Samika is involved in

relationship selling.

New products can be categorized as new-to-the market products, new-category entries, product-line extensions, or

revamped products.

Which element of the promotion mix refers to the set of nonpersonal communication tools designed to stimulate quicker and more frequent purchases of a product?

sales promotion

What is the biggest disadvantage of shipping freight by water?

slow speed

According to your text, which step of the personal-selling process is the most important and most difficult?

the approach step

Logistics is

the part of the supply chain that controls and moves goods and services to the final customer.

Personal selling is more effective when the good or service is

viewed as risky.

In which situation should a firm pick a push strategy?

when customers want a short lead time

What is an advantage of a pull strategy?

It reduces inventory carrying costs and allows customization of products.

Which product carries the most potential for its company but also the most risk?

Nike developed a new type of shoe that is unlike any on the market and requires custom fitting.

Idea generation is the stage in the new-product development process in which

a firm generates ideas to find a product that will make it to the marketplace.

You have designed a new type of cup holder for a car that can hold two cups at once. You decide to create a mock-up of the product to test in the market. It is made of the same materials that would be used in mass producing it. This mock-up is

a prototype.

In marketing terms, the care you receive when you visit the local car wash to get your car washed and vacuumed is an example of

a service.

When a firm is reasonably certain that its marketing mix can inform consumers about the product, as well as how it adds value to the consumer, and ultimately how to purchase it, then the firm rates favorably on which market segment criteria?

actionable

What are the two most commonly used demographic variables used by marketers?

age and gender

Chobani, a maker of specialty yogurts, has expanded its product line to include "Gimmies," a specialty yogurt supported by a set of characters that are designed to appeal to children. For this product, Chobani is segmenting the market based on

age.

A collection of coordinated advertisements that share a single theme is called

an advertising campaign.

A ski resort advertises to consumers to visit and "have the time of your life." This resort is marketing

an experience.

A retail chain is emailing only customers who have purchased from it three years in a row a "thank you for your business" coupon for 30% off. This promotional campaign is an example of _____segmentation.

behavioral

Derek is a construction equipment salesperson who is scheduled to meet with a prospect for the first time. According to the personal-selling process, what should Derek focus on next?

building rapport

A risk associated with product-line extensions is that the new product may take away from sales of existing products in the product line. This is referred to as

cannibalization.

As a promotion mix element, public relations refers to

communication focused on promoting positive interactions between a firm and its stakeholders.

One of the advantages of using a hybrid strategy is that

companies can achieve economies of scale in purchasing, while engineering flexibility into manufacturing.

In contrast to tools such as advertising and sales promotion, personal selling is often a much more effective tool in

complex purchase situations.

The net present value of a customer's business over the span of their relationship with an organization is referred to as

customer lifetime value.

A technology that displaces an established technology and shakes up the industry, or a ground-breaking product that creates a completely new industry is referred to as

disruptive technology.

Manufacturers who package snacks in large multipacks, such as those found in warehouse clubs like Costco, are most likely targeting their market based on the demographic variable of

family size.

As it pertains to supply chains, what part of the supply chain only moves upstream?

financial resources

Segmentation based on location in nations, states, regions, and neighborhoods is referred to as _____ segmentation.

geographic