Marketing Exam 2 Strunk

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What potential risk do marketers incur by using richer but more fragmented media and promotional​ mixes?

A communications hodgepodge for consumers

Which of the following identifies a change in the technological environment that could affect the success of a​ business?

A company develops a new battery that lasts twice as long as its predecessor.

Proactive businesses often take aggressive actions to affect consumers and the forces in their marketing environments. Which of the following does NOT depict a proactive​ company?

A local restaurant refusing to counter false allegations of salmonella

_________ direct(s) its marketing activities​ (primarily advertising, consumer​ promotion, and direct and digital​ media) toward final consumers to induce them to buy the product.

A pull strategy

In which of the following does a producer direct marketing activities​ (primarily personal selling and trade​ promotion) toward channel​ members?

A push strategy

Which of the following is an example of vertical channel​ conflict?

A retailer complaining about receiving damaged electronics goods from a wholesaler

Americans are a mobile​ people, with about 9 percent of all U.S. residents moving each year. Which population trend does this​ describe?

A shift from rural to metropolitan areas

Channels often involve​ long-term commitments, and companies have many alternatives. What type of criteria should be used if the company wants to keep the channel flexible so that it can respond to environmental​ changes?

Adaptability criteria

Large retailers like Walmart have enormous channel control due to their size and power. Which type of channel arrangement does this​ represent?

Administered VMS

is any paid form of nonpersonal presentation and promotion of​ ideas, goods, or services by an identified sponsor.

Advertising

Which of the following describes layers of intermediaries performing some of the work to bring the product and its ownership closer to the final​ buyer?

Channel levels

The franchise organization is associated with which type of marketing​ system?

Contractual VMS

A wedding services company changes its marketing strategy to reflect the fact that more LGBTQ​ (lesbian/gay/bisexual/transgender/queer) marriages are taking place. The company is offering a broader range of ceremonies that cater to this market. Which of the following environments must this wedding company​ analyze?

Cultural

Working with donors or members of nonprofit organizations to gain financial or volunteer support represents which public relations​ function?

Development

What is the overall goal when retailers choose their product​ assortment?

Differentiate the retailer while matching target​ shoppers' expectations

​________ let retailers personalize offers to individual customers with carefully targeted messages.

Digital promotions

Information can be shared and managed in many​ ways, but most sharing takes place through​ ________.

EDI (Electronic Data Interchange)

​__________ is a retailing technique of carefully orchestrating the​ store's layout and​ displays, background​ music, colors, and smells.

Experiential retailing

​________ are the objectives of business promotions.

Generating business​ leads, stimulating​ purchases, rewarding​ customers, and motivating salespeople

Which is now the largest generation alive in the United​ States?

Generation Z

Which of the following recognizes that improved logistics mandates teamwork across the company and the entire supply​ chain?

Integrated supply chain management

Which type of distribution strategy involves stocking the product in as many outlets as​ possible?

Intensive

The first generation to come of age in a world filled with​ computers, mobile​ phones, and online social​ media, ________​ embrace(s) technology as a way of life.

It has become more​ diverse, better​ educated, and more mobile.

Producers of a strong brand sometimes sell it to dealers only if the dealers will take some or all of the rest of its line. This is known as​ full-line forcing. Which of the following statements is true regarding​ full-line forcing?

It may or may not be legal.

The Great Recession of​ 2008-2009 had a profound effect on the economy and consumers. Of the​ following, which represents one of the major consumer trends resulting from the Great​ Recession?

It turned​ free-spending consumers into​ value-seeking ones.

The​ demographic, economic,​ natural, technological,​ political, and cultural forces that affect a​ company's ability to serve its customers make up which of the​ following?

Macroenvironment

Through which channel function do wholesalers improve store layouts and​ displays?

Management services and advice

Which statement regarding cultural values is​ true?

Marketers have little chance of changing core values.

Which of the following is a reason that producers use marketing channels and channel​ intermediaries?

Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.

Which of the following types of wholesalers are independently owned businesses that take title to all merchandise​ handled?

Merchant wholesalers

A salesperson standing behind the counter at a department store is fulfilling which selling​ function?

Order taker

​_________ software systems enable companies to coordinate their​ whole-channel marketing efforts.

Partner relationship management

advertising is used when a company is attempting to build brand preference and prompt customers to purchase now.

Persuasive

Which of the following is NOT a common trade promotion​ tool?

Price packs

​Beverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the​ claims, the restaurant called in a company to test not only its veggie​ burgers, but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the​ restaurant's Facebook page. What BEST describes​ Beverly's Burgers' response to the​ allegations?

Proactive

Which of the following BEST describes a​ company's efforts to engage​ customers, persuasively communicate customer​ value, and build customer​ relationships?

Promotion mix

Which type of wholesaler sends delivery trucks to​ stores, where the delivery people set up​ toys, paperbacks, hardware​ items, health and beauty​ aids, or other​ items?

Rack jobbers

Which consumer promotion tool is like​ coupons, except that the price reduction occurs after the purchase rather than at the retail​ outlet?

Rebates

Which of the following describes the activities that play an important role in connecting brands to consumers in the final phases of the buying​ process?

Retailing

​_________ entails managing upstream and downstream​ value-added flows of​ materials, final​ goods, and related information among​ suppliers, the​ company, resellers, and final consumers.

Supply chain management

​Chicago's Best Pizzeria has been operating on the north side of Chicago for more than 30 years. Its target market includes young urban professionals who want​ new-style organic pizzas with exotic ingredients.​ However, in recent​ years, the population in the​ pizzeria's neighborhood has been​ shifting, and now fewer young urban professionals live there. The population has grown older and wants traditional​ pizza, not pizza with exotic ingredients. Which of the following identifies the​ pizzeria's BEST response to this​ situation?

Target a new market with a different product.

Which of the following statements about sales promotions is​ correct?

The heavy use of sales promotions has resulted in promotion clutter.

How does the microenvironment of a company differ from its​ macroenvironment?

The microenvironment deals with the​ company, suppliers, marketing​ intermediaries, customer​ markets, competitors, and publics.

Which environment shows trends including shortages of certain raw​ materials, higher pollution​ levels, and more government​ intervention?

The natural environment

Which of the following indicates the length of a​ channel?

The number of intermediary levels in the channel

​Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called​ "high-low pricing." Which of the following correctly describes​ high-low pricing?

The retailer charges higher prices on an everyday​ basis, coupled with frequent sales and other price promotions.

Which of the following is true regarding​ omni-channel buyers?

They shift easily across online and​ in-store channels.

What is the goal of​ advertising?

To help move consumers through the buying process

Which of the following are used to persuade resellers to carry a​ brand, give it shelf​ space, and promote it in​ advertising?

Trade promotions

Of the​ following, which most closely describes the method by which companies engage and create benefits for their​ customers?

Value delivery network

In terms of multimodal​ transportation, the term fishyback refers to the use of which types of​ transportation?

Water and trucks

​Nguyen's Sporting Goods is having difficulty obtaining the credit it needs to expand. What should the company do in order to improve its financial​ situation?

Work out a plan with its financial intermediaries

The four elements of a compensation plan for salespeople are​ __________.

a fixed​ amount, a variable​ amount, expenses, and fringe benefits

Marketers now have a richer mix of media and content approaches with consumers being bombarded by many brand messages. The result is that​ __________.

companies fail to integrate their various communication channels

​Sherwin-Williams sells its paint and other branded products exclusively through​ company-owned retail stores.​ Sherwin-Williams has established​ a(n) _________.

corporate VMS

The key to good​ omni-channel marketing is​ ________.

creating that critical​ seamless, anywhere,​ anytime, omni-channel shopping experience that​ today's customers seek

The​ ________ environment consists of institutions and other forces that affect a​ society's basic​ values, perceptions,​ preferences, and behaviors.

cultural

The goal of integrated marketing communications is to

deliver​ clear, consistent, and compelling messages about the organization and its brands

After segmenting and defining their target​ markets, retailers must then decide​ ________.

how they will differentiate and position themselves

The goal of a push strategy is to

induce channel members to carry and promote the product

Correcting false impressions and suggesting new uses for a product are objectives associated with​ ________ advertising.

informative

The retail marketing mix is made up of the product and services​ assortment, price,​ promotion, and​ ________.

location

​P&G sales reps are integrated into Customer Business Development​ (CBD) teams. Each CBD team is assigned to a major​ P&G customer, such as​ Walmart, Safeway, or CVS Health.​ P&G has adopted a​ ________ sales force structure.

market

The massive shift in how and where people buy calls for​ _________.

massive shifts in how store retailers operate

Environmental sustainability means​ ________.

meeting present needs without compromising the ability of future generations to meet their needs

One of the primary advantages of marketing logistics is​ _________.

potentially high cost savings and improved customer satisfaction

One consumer promotion tool is​ _______, which are goods offered either free or at low cost as an incentive to buy a product.

premiums

The first step in the selling process is​ ________.

prospecting

The third purpose of government regulation is to​ __________.

protect the interests of society against unrestrained business practices

​Stories, sponsorships,​ events, and webpages are promotional tools used in​ ________.

public relations

In the context of advertising​ media, ________ is a measure of the percentage of people in the target market who are exposed to an ad campaign during a given period of time.

reach

Before meeting and greeting a​ buyer, a salesperson should​ ________.

research the buyer to prepare for the meeting

When a company uses more than one but fewer than all of the intermediaries who are willing to carry a​ company's products it is engaging in​ ________ distribution.

selective

By performing the channel function of​ ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost.

selling and promoting

A direct marketing channel​ ________.

sells directly to the consumer

Focusing the entire marketing process toward turning potential consumers into buyers as they approach the point of sale is known as​ ________.

shopper marketing

​REI, Williams-Sonoma, and LensCrafters are examples of​ ________, stores that carry a narrow product line with a deep assortment.

specialty stores

More than a​ territory, compensation, and​ training, new salespeople need​ ________.

supervision and motivation

When setting marketing channel​ objectives, companies should state the objective in terms of​ ________.

targeted levels of customer service

During the presentation step in the personal selling​ process, the salesperson should​ ________.

tell the buyer a​ "value story"

The structure decision is simple if the company sells only one product line to one industry with customers in many locations. In that case the company would use a​ ________ sales force structure.

territorial

​Justin, Inc., a​ U.S.-based watch​ manufacturer, sells its products in​ China, Russia,​ France, and India. To manage​ sales, Justin appoints a number of sales representatives to each location. Justin has adopted a​ ________ sales force structure.

territorial

When the company has defined its channel​ objectives, it should next identify its major channel alternatives in terms of the types of​ intermediaries, the number of​ intermediaries, and​ __________.

the responsibilities of channel members

Exclusive dealing occurs when​ ________.

the seller requires that exclusive dealers not handle​ competitors' products

Firms spend​ ________ on personal selling as they do on advertising.

up to three times as much

​A(n) _______ consists of​ producers, wholesalers, and retailers acting as a unified system.

vertical marketing system

To set its sales force​ size, a company can first group accounts into different classes according to​ size, account​ status, or other factors related to the amount of effort required to maintain the account. It then determines the number of salespeople needed to call on each class of accounts the desired number of times. This is called the​ ________ approach.

workload

As companies become more​ market-centered, a​ customer-focused sales force​ _________.

works to produce both customer satisfaction and company profit

To exercise social​ responsibility, many companies are linking themselves to what type of​ marketing?

​Cause-related

Which budgeting method involves setting a​ company's promotion budget to match the standard outlays for the​ industry?

​Competitive-parity method

Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of​ media?

​Omni-channel marketing

​It's time for the Super​ Bowl, and the​ end-of-the-aisle displays at the supermarket feature​ chips, dips, and soft drinks. What type of sales promotion tool is​ this?

​Point-of-purchase

​Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six​ years, sales have continuously declined and profits have almost completely disappeared. The owner of​ Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to​ Tina's Tunes?

​Tina's Tunes is likely to fail because it is ignoring the technological environment.

The goal of logistics is to provide a targeted level of service at the least or lowest possible cost. To achieve this​ goal, which of the following are logistical functional​ areas?

​Warehousing, inventory​ management, transportation, and logistics information management

The​ seven-step selling process takes a​ __________ approach to selling. In other​ words, its aim is to help salespeople close a specific sale with a customer.

​transaction-oriented


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