Marketing Final
What equation shows organizations the relationship between price and profit?
(Price x Quantity Sold) - Total Costs = Profits
The target market of a regional shopping center typically includes at least _____ people.
150,000
The supply chain includes _____.
All entities that facilitate product distribution
Barnes and Noble sells online through its website, while also selling through physical store locations. This type of retailing is referred to as what?
Bricks and Clicks
Stacey's client group has been gradually shrinking and she is looking for new prospective clients. She has decided to spend a couple of days approaching potential customers without any prior consent. Stacey's method of approach is known as _____.
Cold canvass
The Barrister's Deli decides to run advertisements for its lunch specials on a local FM radio station. Marketing research later reveals that the restaurant's target audience listens primarily to satellite radio stations. This promotion program suffered from an error in the selection of _____.
Communications channel
Soft drink companies advertise that their products beat the competition in national "taste tests," and they refer to the rival brands by name. This type of advertising is best described as _____.
Comparative
Compared with other types of retailers, department stores compete mainly on the basis of what?
Customer Service
Mobile phone plans contain a certain number of anytime minutes and then either significantly more or even unlimited night and weekend minutes. This is an example of what?
Demand-based pricing
The marketing channels for services are usually _____.
Direct from provider to customers
The receiver's response to a message is _____ for the source.
Feedback
The purpose of the _____ stage in personal selling is to determine customers' problems and questions about using the product.
Follow-up
Supermarkets, discount stores, and hypermarkets can all be classified as _____.
General merchandise retailers
What is the first stage in the development of any advertising campaign?
Identifying the advertising target audience
What is a major disadvantage of personal selling?
It is extremely expensive per contract
Personal selling goals include finding prospects, convincing prospects to buy, and _____.
Keeping customers satisfied
What is the list of the exact magazines, newspapers, and television stations in which an advertisement will appear, along with the dates and times?
Media plan
Specialty stores offer _____ than department stores.
More sales expertise and better selections
The two major types of product advertising are _____.
Pioneer and competitive
The advertising campaign for Crest toothpaste lets consumers know about its newest flavor, and also mentions its history as an established brand. The ad also mentions Crest's advantages and benefits. Crest's advertising would be classified as what?
Reminder
Direct selling, direct marketing, and vending machines are all examples of _____.
Retailing
The salesperson must attract and hold the prospect's attention, stimulate interest, and spark a desire for the product during the _____.
Sales presentation
Using only some of the available outlets to distribute a product is called _____.
Selective distribution
A salesperson should try to close the sale _____.
Several times during the sales presentation
Consumers can order a bathroom vanity through Lowe's website and pick up the vanity at the store. This type of delivery is called _____.
Site to store
Which type of retail outlet can have up to 200,000 square feet?
Superstores
Digital media have created opportunities for companies to do what?
Target specific markets
What are two trends that have caused consumer-generated information to gain importance?
The increase of consumers sharing their opinions through digital media and the consumer's mistrust of information from corporations
At the breakeven point, _____.
The memory a company brings in from selling products equals the amount spent producing the products
At what point does a firm maximize profit?
The point at which marginal cost equals marginal revenue
Price is _____.
The value that is exchanged for products in a marketing transaction
What is the overall role of promotion?
To stimulate product demand
Sarah is driving to work on I-90 and notices a billboard for new salads at Wendy's. She reads the message and sees the pictures of the new salads. In this case, Sarah is the _____ and Wendy's is the _____ of this communications.
receiver/source
Starbucks has an agreement with Pepsi Co. through which Pepsi distributes Starbucks' coffee drink, Frappucino, to grocery stores and other retail outlets. What is this is an example of?
A strategic channel alliance
A general merchandise retailer offers _____.
A variety of product lines that are stocked in depth
Rob Stevens is the head of a company that produces computer software for production scheduling. The firm is small and presently does not generate enough volume to justify hiring a sales force. The firm is probably using _____ to maintain contact with the firms using its products.
Agents
Exterior and interior characteristics such as layout, displays, color, and lighting are all elements of a store's _____.
Atmospherics
Michael's, PetSmart, and Staples are all examples of _____.
Category killers
Coors advertises that its beer is the only one that is kept cold from the brewery to the store. What is this type of advertising called?
Competitive
When Volvo's advertising campaign mentions the Volvo CX60 has the highest safety rating of any European sedan, it is using _____ advertising.
Competitive
What refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information?
Control
A small self-service store that is open long hours and carries a narrow product assortment in convenient locations is best described as a what?
Convenience store
The step in developing an advertising campaign that directly precedes campaign execution is _____.
Creating the advertising message
Consumers who act as _____ are becoming increasingly important to online marketers as a conduit for addressing consumers directly.
Creators
Verizon encourages customers to post reviews on its company website or Facebook page in the hopes of increasing the company's _____.
Credibility
All members of the supply chain should determine their position in the chain, identify their partners and their roles, and establish partnerships whose focus is what?
Customer relationships
Any human or mechanical effort that adds value to a product is called _____.
Customer service
Compared with other types of retailers, department stores compete mainly on the basis of what?
Customer service
An American West Airlines flight from Dallas to Houston was full, and the tickets were more expensive than the almost-empty American West flight from Chicago to Phoenix. This is an example of what kind of service pricing?
Demand-based
When off-price retailers obtain too much in-season, high-quality merchandise, tension between them and _____ builds.
Department stores
Interactive links on websites can help advertising move away from being an intrusion to what?
Developing relationships
_____ uses the Internet, mobile, and interactive channels to develop communication and exchanges with customers.
Digital marketing
A channel of distribution is defined as a group of individuals and organizations that do what?
Directs the flow of products from producers to customers
Cash and Carry is a store that carries food, clothing, and household goods at lower price margins than other nearby stores. There is little service provided and customers have to bag their own purchases. Cash and Carry is most likely an example of a _____.
Discount store
For most firms in the United States, demand curves are _____.
Downward sloping
Del Monte markets ketchup for household use to supermarkets through grocery wholesalers. It markets ketchup for institutional use through industrial distributors and food brokers. What is Del Monte using?
Dual distribution
Prudential Insurance uses "the rock" symbol to communicate stability and security to customers. This is Prudential's attempt to help customers better understand its services by _____.
Emphasizing tangible cues in promoting the service
As Emily prepares the script for a radio commercial for her boutique, she is engaging in the _____ stage of the communication process.
Encoding
Due to consumer concerns over privacy, the _____ is considering regulations that would limit the amount of consumer information that marketers can gather online
Federal trade commission
Services have six basic characteristics: intangibility, inseparability of production and consumption, perishability, client-based relationships, customer contact, and _____.
Heterogeneity
A direct-response information form found in a magazine advertisement that allows customers to send for more information has a primary objective of _____.
Identifying prospects
Advertising that aims to create a more favorable view of a company as a whole in the eyes of various stakeholders is called _____ advertising.
Institutional
Walgreen's has set up a website that enables customers to converse with the company. This is an example of an _____ website.
Interactive
_____ allows customers to express their needs and wants directly to a company in response to its marketing communications.
Interactivity
Why is location is important to a retailer?
It determines the trading area from which the store must draw its customers
General Motors communicates with consumers and stockholders via social networking. On which site would be the most beneficial for GM to post its stock information?
Which of the following websites allows companies to search the network for potential employees with particular skills?
What is the stage of the personal selling process in which the salesperson attempts to make a favorable impression, gather information about the customer's needs and objectives, and build a rapport with the prospective customers?
Making the presentation
Service industries account for _____ of the gross domestic product of most developed nations.
Nearly three-quarters
What type of shopping center usually consists of several small convenience and specialty stores?
Neighborhood
Anything that reduces the accuracy and clarity of communication is called what?
Noise
When a theater entices customers to see movies during the daytime by offering tickets at a reduced price, it is trying to solve what services marketing problem?
Off-peak demand
Paid personal communication that attempts to inform and persuade customers to purchase products in an exchange situation is called _____.
Personal Selling
Rebecca Vincent is employed as a consultant for Mary Kay Cosmetics. This illustrates what?
Personal Selling
What are audio or video files that can be downloaded from the Internet with a subscription that automatically delivers new content to listening devices or personal computers?
Podcasts
Tim has just finished compiling a list of potential customers and evaluating their ability, willingness, and authority to buy. He knows his next step in the personal selling process is to _____.
Preapproach
Safe Auto advertises its automobile insurance as "minimum coverage for minimum budgets." Safe Auto is engaging in _____.
Price competition
To determine the breakeven point in units, divide the fixed costs by what?
Price minus variable costs
Without wholesalers and other intermediaries _____.
Products would likely be more expensive due to the use of less efficient channel members
Advertising, personal selling, sales promotion, and public relations are called what?
Promotional mix ingredients
The Internet can be referred to as a _____ medium because users determine which websites they are going to view.
Pull
A spokesperson for Mott's apple juice encourages television audiences to use its juice in the winter by serving it hot with a cinnamon stick. In this instance, Mott's is using promotion to do what?
Reduce sales fluctuations
Dial soap's tagline "Aren't you glad you use Dial? Don't you wish everybody did?" exemplifies the use of _____ advertising.
Reinforcement
IHOP is active on Facebook, Twitter, and YouTube in order to communicate with its customers, conduct a video contest, and generally find out the customers' likes and dislikes. IHOP in this example, is engaging in _____ marketing.
Relationship
Aidan is getting ready to move to campus for his freshman year of college. To get the products he needs for his dorm room, he goes to a store that sells household goods such as plastic containers, sheets, and towels. The store also sells items such as shampoo, deodorant, and toothpaste. Aidan has most likely gone where?
Superstore
Long-term partnerships among channel members working together to reduce inefficiencies, costs, and redundancies in the entire marketing channel is called _____.
Supply chain management
Lashawna is a concert promoter who works for singer Kanye West. She works very hard to make sure most of Kanye's concerts are sold out because she understands the concept of perishability, which means _____.
That if tickets are not sold, seats will remain empty and they can never be sold to anyone again
Price is a key element in the marketing mix because it relates directly to what?
The generation of total revenue
Consumers are changing _____ and consumption behaviors as a result of emerging technologies.
Their information searches
What do all of the following have in common: tuition, fee, premium, retainer, dues?
They are different terms for the concept of price.
When a salesperson asks the customer to buy the product several times throughout the sales presentation in an effort to uncover hidden objections, it is called _____.
Trial closing
Toys-R-Us is almost finished building a new store and will soon be having a grand opening celebration. Management wants to build excitement and anticipation for the event. Which social networking site would Toys-R-Us use to post multiple updates each day on the store's progress?
Surveys, focus groups, and customer comment cards are all methods used by service companies to do what?
Understand customer needs and expectations
_____ are computer-based online simulated environments that involve participants.
Virtual realities
Which of the following is a large-scale, members-only, retailer that combines cash-and-carry wholesaling with discount retailing?
Warehouse club
Retail facilities located in big, low-cost buildings with large on-premise inventories and minimal services are called _____.
Warehouse showrooms
Marginal analysis involves examining _____.
What happens to a firm's costs and revenues when production is changed by on unit
Which of the following is most likely to be a product stocked solely by an industrial distributor?
Wind turbines