Marketing Final

Customers must see value in a product or service before they are willing to exchange time or money to obtain it, but not all customers see the same value in a product. To analyze how many units will be sold at any given price point, marketers draw on 1) a demand curve. 2) the law of averages. 3) multiple regression analyses. 4) target return strategies. 5) a sales orientation.

1) a demand curve.

When Brandon decided he needed a new car, he immediately called his old college roommate, who owns a BMW dealership, to ask questions about options and financing. Brandon was searching for information from 1) an external source. 2) an internal locus of control. 3) a reference source. 4) an internal source. 5) a situational factor group.

1) an external source.

If you ever watched a television commercial and at the end of the message wondered what it was promoting, you may have had trouble __________ the IMC message. 1) decoding 2) transmitting 3) precoding 4) encoding 5) tracking

1) decoding

Television advertising has recently expanded to include mini-ads, which are short ads lasting five to ten seconds. These ads are most useful in advertising to men, since men are more likely than women to channel surf during commercial breaks. This type of advertising will be more useful to marketers engaged in __________ segmentation. 1) demographic 2) psychographic 3) behavioral 4) benefits 5) geographic

1) demographic

For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements with other countries creates 1) weaknesses. 2) opportunities. 3) strengths. 4) threats. 5) strategic plans.

2) opportunities.

One of the benefits of value-driven marketing is that attention to customer needs and wants will likely result in 1) higher prices than the market leader charges. 2) increased competition. 3) long-term relationships. 4) strong connections among competing firms in the marketplace. 5) lower prices.

3) long-term relationships.

When Starbucks first opened, many critics suggested, "No one will pay $4.00 for a cup of coffee." Starbucks' critics suggested consumers would not be __________ to the company's offerings. 1) perceptive 2) Identifiable 3) responsive 4) reachable 5) quantifiable

3) responsive

Company sales invoices, census data, and trade association statistics are examples of 1) primary data. 2) data mines. 3) secondary data. 4) tertiary data. 5) qualitative data.

3) secondary data.

When discussing the marketing planning process, STP stands for 1) strategies, tactics, and plans. 2) strategize, target, and promote. 3) segmentation, targeting, and positioning. 4) situation analysis, trend spotting, and planning. 5) sustaining, trending, and positioning.

3) segmentation, targeting, and positioning.

As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including 1) competition. 2) the economy. 3) strengths and weaknesses. 4) demographics. 5) opportunities and threats.

3) strengths and weaknesses.

Upscale men's and women's clothing stores like Nordstrom's, Neiman-Marcus, or Saks Fifth Avenue are more likely to appeal to consumers' __________ needs. 1) functional 2) post-purchase 3) safety 4) psychological 5) situational

4) psychological

Integrated marketing communications include all of the following EXCEPT 1) personal selling. 2) advertising. 3) public relations. 4) supply chain management. 5) direct marketing.

4) supply chain management.

Most manufacturing and retailing marketers worry constantly about whether their IMC efforts are paying off. They assess various forms of __________ to determine what is working and what is not. 1) noise 2) pre-testing 3) precoding 4) encoding 5) feedback

5) feedback

Marketing involves all of the following EXCEPT 1) conducting exchanges. 2) satisfying customer needs and wants. 3) creating value. 4) efforts by individuals and organizations. 5) production scheduling.

5) production scheduling.

Julia is driving down Interstate 95 on her way from New England to Florida and sees a billboard saying, "South of the Border Restaurant and Motel is just 100 miles away." Julia has never heard of South of the Border before. After seeing the sign, she will most likely need additional exposure to the product before deciding whether to stop at South of the Border. This is an example of 1) rejection of advertising. 2) subliminal advertising. 3) product underwhelm. 4) IMC strategy. 5) the lagged effect.

5) the lagged effect.

Samples are often used for new products when __________ will influence the diffusion of the product. 1) relative advantage 2) compatibility 3) observability 4) complexity 5) trialability

5) trialability

In the AIDA model, the do stage is the __________ stage. 1) awareness 2) action 3) interest 4) desire 5) intentions

2) action

Carla has been directed by her regional marketing manager to cut prices on seasonal items, place an ad in the local paper, and tell distributors to reduce deliveries for the next month. Which step of the strategic marketing planning process is Carla engaged in? 1) evaluate performance 2) define the business mission 3) situation analysis 4) implement marketing mix and resources 5) identify and evaluate opportunities

4) implement marketing mix and resources

Marco was assigned to help create a positioning strategy for his employer's products based on product attributes. He should consider 1) the features the engineers feel are most important. 2) the ways the sales representatives have been positioning the firm's products. 3) the characteristics that helped his firm win a statewide award for excellence in manufacturing. 4) what the target market would consider the most important features. 5) the safety record of the firm and its products.

4) what the target market would consider the most important features.

Bob and George live in the United States. Bob recently asked for George's cell phone number, but George said he didn't have one. George would probably be considered a(n) __________ in the diffusion of innovation process. 1) innovator 2) laggard 3) late majority 4) early majority 5) early adopter

2) laggard

Adidas Group owns Reebok, Rockport, and TaylorMade brands. Having a variety of brands allows Adidas to 1) engage in micromarketing for hard-to-fit shoe customers. 2) obtain a bigger share of the shoe market. 3) use mass marketing techniques. 4) use geographic segmentation. 5) generate economies of scale in advertising expenditures.

2) obtain a bigger share of the shoe market.

Many teenagers, both male and female, have clothes they purchased in the past that they would not be caught dead in today. When they occasionally see those clothes hanging in the back of their closet, these teenagers probably feel 1) cognitive bias. 2) post-purchase cognitive dissonance. 3) psychological risk. 4) need recognition. 5) physiological risk.

2) post-purchase cognitive dissonance.

A university that has separate graduate and undergraduate admission offices recognizes that these are distinct 1) brand associations. 2) product lines. 3) product mixes. 4) brands. 5) augmented services.

2) product lines.

The manager of a company selling cellular phones in rural U.S. markets asks you to conduct survey research into the question, "What percentage of people in Kansas live in communities of fewer than 10,000 people?" The problem with this research objective is that 1) it is irrelevant to the cellular company. 2) it is already known and available from the U.S. Bureau of the Census. 3) it will lead to a set of unstructured questions. 4) it is a research question that probably cannot be answered with any level of accuracy. 5) it is too expensive to determine the answer.

2) it is already known and available from the U.S. Bureau of the Census.

When Magda decided to buy a new computer, she considered all the brands she could recall seeing advertised. This represents Magda's __________ set. 1) universal 2) retrieval 3) evoked 4) deterministic 5) behavioral

2) retrieval

It is almost impossible to watch a sporting event on television without seeing Nike's swoosh check mark, which is Nike's 1) name. 2) symbol. 3) design. 4) term. 5) theme.

2) symbol.

If a firm has demographic and purchasing information about its customers, the firm can use data mining techniques to 1) understand psychographic motivations. 2) create marketing mixes based on consumer self-values. 3) build separate marketing programs for different demographic segments. 4) determine which syndicated data warehouse services to purchase. 5) find out which competitors its customers purchase from.

3) build separate marketing programs for different demographic segments.

The process by which the use of a new product or service spreads throughout a market group is referred to as 1) new product introduction. 2) lead user dispersion. 3) diffusion of innovation. 4) the product life cycle. 5) product development diffusion.

3) diffusion of innovation.

If a firm wants to develop a sustainable competitive advantage, it should 1) begin an aggressive campaign to buy up competitors. 2) copy the innovative features of other firms that are attractive to customers. 3) examine its operations and customer relations to identify significant things competitors cannot easily copy. 4) increase its marketing budget so that it outspends its competitors. 5) arrange to meet with competitors to discuss how to avoid direct competition.

3) examine its operations and customer relations to identify significant things competitors cannot easily copy.

Alex has found that both commercial and residential real estate buyers respond positively to his marketing communication message. Alex has identified __________ that respond similarly to his marketing efforts. 1) mass customization consumers 2) geographic segments 3) market segments 4) self-concept customers 5) geodemographic segments

3) market segments

Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following EXCEPT 1) product 2) place 3) performance 4) promotion 5) price

3) performance

Google and other search engines allow marketers to bid to have their ads shown when consumers search on keywords related to the firm's products. These marketers are attempting to create value through 1) product. 2) price. 3) promotion. 4) place. 5) cost-based measures.

3) promotion.

Which of the following is NOT one of the five Cs of pricing? 1) customers 2) channel members 3) cost 4) collaboration 5) company objectives

4) collaboration

The full price of a product or service includes all of the following EXCEPT 1) taxes. 2) shipping. 3) travel costs. 4) the price of alternative products and services. 5) value of the consumer's time.

4) the price of alternative products and services.

If the fixed costs of manufacturing a new cell phone are $10,000, the sales price is $60, and variable cost per unit is $20, the break-even point is 1) 100 units. 2) 4,000 units. 3) 20 units. 4) 1,000 units. 5) 250 units.

5) 250 units.

Toothpastes sold in supermarkets and pharmacies promise various results, such as whiter teeth, protection against gum disease, tartar control, or fresh breath. Toothpaste marketers are using __________ segmentation. 1) benefit 2) geodemographic 3) psychographic 4) loyalty 5) demographic

1) benefit

One difficulty associated with using advertising as part of a marketer's IMC efforts is 1) breaking through the clutter of other messages targeted for the same audience. 2) that it is more expensive than personal selling. 3) that it only works when communicating to the most uninformed consumers. 4) that government regulations have significantly decreased allowable advertising frequencies. 5) that it is considered old-fashioned by many younger consumers.

1) breaking through the clutter of other messages targeted for the same audience.

Raycom Construction needs heavy-duty equipment to install a new pipeline in northern Alaska. After a vendor is chosen, Reginald will handle the paperwork and send out the purchase order. Reginald plays the role of __________ in the buying center. 1) buyer 2) initiator 3) influencer 4) user 5) gatekeeper

1) buyer

Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix? 1) place 2) price 3) product 4) promotion 5) proximity

1) place

Raymond estimates that the fixed costs associated with opening a new bank branch are $500,000. He expects the branch to attract 1,000 new customer accounts in the first year, each of which will cost $50 per year to service. He also expects to generate $100,000 per year in revenue. For Raymond, the total cost of opening the new branch and remaining open for one year will be: 1) $500,000. 2) $550,000. 3) $650,000. 4) $450,000. 5) $605,000.

2) $550,000.

Jacob rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $20, to cover maid service and utilities. His fixed costs are $100,000 and his profit last year was $20,000. For Jacob, the contribution per unit is 1) $100. 2) $80. 3) $800. 4) $1,000. 5) It cannot be determined from the information provided.

2) $80.

Auction sites like eBay have increased opportunities for __________ marketing. 1) B2B 2) C2C 3) D2C 4) C2D 5) B2G

2) C2C

__________ is communication by a marketer that informs, persuades, or reminds potential customers about a product. 1) Pricing 2) Promotion 3) Placement 4) A relational orientation 5) Value co-creation

2) Promotion

__________ involves taking apart a product, analyzing it, and creating an improved product that does not infringe on the competitor's patents. 1) Reverse innovation 2) Reverse engineering 3) Selective dissection 4) Redistribution 5) Creative destruction

2) Reverse engineering

The first question a marketing researcher should ask when considering a research study is 1) Who will pay for it? 2) Will the research be useful? 3) When is the due date? 4) What sample size will be needed? 5) Should we use structured or unstructured questions?

2) Will the research be useful?

Wanda and Jim are working on a research project to anticipate customer attitudes toward a proposed new product line for their company. They have worked with the marketing manager to determine the answers that are needed and have created a detailed design of the project. Their next logical step will be to 1) develop a budget. 2) begin to collect data. 3) summarize their preliminary conclusions to present to managers. 4) begin recommending changes to the new product line based on ideas developed in the design phase. 5) analyze the data.

2) begin to collect data.

The basic difference between a good and a service is that a good 1) provides intangible benefits. 2) can be physically touched. 3) is always less expensive than a corresponding service. 4) generates greater interest among consumers. 5) is more quickly forgotten by consumers.

2) can be physically touched

Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to many other areas in the world. These products offered __________ with consumers' needs and priorities. 1) relative positioning 2) compatibility 3) observability 4) complexity 5) trialability

2) compatibility

Once consumers have recognized a need, they begin to search for ways to satisfy that need. The internal search is characterized by 1) looking through the internal records of a firm, often found on the company website. 2) examining personal memories and knowledge. 3) using the Internet to find what other consumers feel about a specific product or service. 4) consulting close friends and families before expanding the search to a wider, external group. 5) the influence of advertising.

2) examining personal memories and knowledge.

At many universities, education faculty members were among the first to ask for personal computers. These faculty members were __________ in the buying center. 1) buyers 2) initiators 3) influencers 4) deciders 5) gatekeepers

2) initiators

In the IMC process, noise can occur as a result of lack of message clarity, a poor choice of medium, or 1) competing messages. 2) an extended feedback loop. 3) indirect encoding. 4) inhibited decoding. 5) excessive reach.

1) competing messages.

When Penguin Catering Services first opened, the owner decided to target only events at resorts in its geographic region. Penguin Catering was using a(n) __________ targeting strategy. 1) concentrated 2) micromarketing 3) benefit-driven 4) differentiated 5) undifferentiated

1) concentrated

When Ramona, the keynote speaker at a major business leaders' conference, arrived in the middle of the night at the Ritz-Carlton, she was exhausted and her suit was wrinkled from her ten-hour plane trip. The night clerk found someone to dry clean Ramona's suit and have it ready for her morning presentation. She has been a loyal Ritz-Carlton customer ever since. In this example, Ritz-Carlton demonstrated the macro strategy of 1) customer excellence. 2) operational excellence. 3) product excellence. 4) promotional excellence. 5) global excellence.

1) customer excellence.

Julia's is an upscale women's clothing store. Prices are based on customers' beliefs about the value of the clothing. The store focuses on a limited target market and provides excellent customer service. Julia's is using a ________________ pricing strategy. 1) customer-oriented 2) target profit 3) target return 4) status quo 5) maximizing profits

1) customer-oriented

Whenever Donald considers upgrading his personal computer system, he consults with Jeremy, a knowledgeable friend who always has the newest technology. For Donald, Jeremy is a(n) __________ in the diffusion of innovation curve. 1) innovator 2) laggard 3) late majority 4) early majority 5) early adopters

1) innovator

One key feature of the value of a strong brand is that 1) it can protect the firm from competition. 2) it no longer needs to be supported by advertising and promotion. 3) if it becomes a generic name, the brand is worth even more. 4) it cannot be successfully imitated by a retailer's own brand. 5) competitors will typically abandon a sector altogether rather than compete.

1) it can protect the firm from competition.

The manager of a company selling baby products asks you to conduct research into the question, "Is life expectancy getting longer in Kuwait?" The problem with this research objective is that 1) it is irrelevant to the baby products company. 2) it is already known and available from the U.S. Bureau of the Census. 3) it will lead to a set of unstructured questions. 4) it is a research question that probably cannot be answered with any level of accuracy. 5) it is a question related to another culture.

1) it is irrelevant to the baby products company.

Computer game companies constantly monitor computer game-related blogs keeping track of the latest hot products, because they know that their customers crave the latest and greatest games. They use this information to create new products that primarily provide the benefit of 1) keeping up in a market where sales come mostly from new products. 2) satisfying the changing needs of former customers. 3) avoiding market penetration from products that have been on the market for a long time. 4) creating diversification and reducing risk. 5) taking advantage of a long product cycle.

1) keeping up in a market where sales come mostly from new products.

The activity, set of institutions, and process for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called 1) marketing. 2) marketing research. 3) market share analysis. 4) market segmentation. 5) market positioning.

1) marketing.

Judy knows it is important to approach business buyers at the right time, which is often during the first stage of their buying process. She stays in touch with her customers, hoping to find out when they are going through 1) need recognition. 2) the RFP process. 3) proposal analysis. 4) vendor negotiation and selection. 5) product specification.

1) need recognition.

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged? 1) planning 2) implementation 3) control 4) segmentation 5) metrics

1) planning

After reviewing the existing data on seasonal spending by his company's customers, Marvin decided he needed new information collected to address his research questions. Marvin will need __________ data to address the questions in his market research study. 1) primary 2) secondary 3) mined 4) syndicated 5) warehoused

1) primary

Which of the following is NOT one of the important functions of labels on products and packages? 1) protecting against damage to the product 2) providing consumer information to assist in purchasing 3) identifying the brand and building brand image 4) promoting the brand or complementary brands 5) listing ingredients

1) protecting against damage to the product

Which of the following is NOT one of the benefits to a firm of new product development? 1) reduced costs of production. 2) satisfying the changing needs of current and new customers. 3) avoiding market saturation from products that have been on the market for a long time. 4) creating diversification and reducing risk. 5) keeping up in a market where sales come mostly from new products.

1) reduced costs of production

Early personal computer users remember the cumbersome, user-unfriendly DOS system. When Apple introduced System 1 and Microsoft introduced Windows, both of which were much easier to use, these new products diffused rapidly because of their 1) relative advantage. 2) compatibility. 3) observability. 4) complexity. 5) trialability.

1) relative advantage.

When conducting a survey about choosing vacation destinations, Hillary will need to __________ to get reluctant respondents to provide honest information. 1) choose only highly verbal consumers 2) assure consumers that their individual responses will be kept confidential 3) use only focus group interviews 4) ask unstructured questions 5) create an efficient data warehouse

2) assure consumers that their individual responses will be kept confidential

When the floor rusted through on her old car, Kelly knew she had a problem. Logically, Kelly's next step in the consumer decision process would be to 1) identify her need. 2) search for information about cars. 3) evaluate alternatives. 4) purchase a new car. 5) assess her satisfaction with the car she purchased.

2) search for information about cars.

Which of the following was NOT a new-to-the-world product or service when it was introduced? 1) Wi-Fi 2) the Mercedes mini sport utility vehicle, a smaller version of its larger SUVs 3) Microsoft's Windows operating system 4) the MP3 player 5) flat screen TVs

2) the Mercedes mini sport utility vehicle, a smaller version of its larger SUVs

Unlike manufacturers, __________ buy products from other businesses but do not significantly alter the form of the products they buy before selling them. 1) producers 2) consumers 3) resellers 4) raw materials suppliers 5) gatekeepers

3) resellers

Taking steps to encourage customer loyalty is one way to 1) test new products. 2) promote efficiency. 3) sustain an advantage over competitors. 4) develop new pricing strategies. 5) improve supply chain effectiveness.

3) sustain an advantage over competitors.

Brand extension is a popular marketing strategy because 1) it separates out the cost of brand extension from brand intention. 2) it allows the firm to discontinue complementary products. 3) the firm can spend less on creating brand awareness and associations. 4) it avoids the problem of brand dilution. 5) it guarantees success for a new product.

3) the firm can spend less on creating brand awareness and associations.

The consumer decision process model represents 1) the concept of habitual decision making. 2) the retrieval of an evoked set based on physiological needs. 3) the steps that consumers go through before, during, and after making purchases. 4) the shift from an internal to an external locus of control. 5) the types of decisions all consumers must make.

3) the steps that consumers go through before, during, and after making purchases.

Derek bought a pickup truck to transport his equipment to fishing tournaments. He also bought a trailer for his lawn maintenance business. His purchases were 1) both B2C purchases since he is the user in both situations. 2) both B2B purchases since he is the user in both situations. 3) neither B2C nor B2B since he is the consumer and his uses might be mixed. 4) B2C and B2B, respectively. 5) B2B and B2C, respectively.

4) B2C and B2B, respectively.

In most large organizations, several people are responsible for making a purchase decision. This group is called the 1) derived demand cohort. 2) reselling team. 3) decider group. 4) buying center. 5) expediters.

4) buying center.

In the IMC communication process, the __________ is the medium that carries the message. 1) feedback loop 2) sender 3) transmitter 4) communication channel 5) receiver

4) communication channel

When Ursula decides how to price new products in her gift store, she measures the value of her product offerings against those of the other stores in her area. Ursula uses a __________________ pricing strategy. 1) maximizing profits 2) target profit 3) target return 4) competitor-oriented 5) sales oriented

4) competitor-oriented

The four Ps make up the marketing mix, which is the __________ set of activities that the firm uses to respond to the wants and needs of its target markets. 1) unpredictable 2) external 3) internal 4) controllable 5) global

4) controllable

Through analysis of sales data, Price-Cutters retail store found that customers who bought peanut butter also tended to buy bananas. Price-Cutters was engaged in 1) syndicated surveying. 2) focus group analysis. 3) behavioral analysis. 4) data mining. 5) structured sampling.

4) data mining.

Adidas Group owns Reebok, Rockport, and TaylorMade brands. Adidas uses the different brands to pursue a(n) __________ strategy. 1) concentrated targeting 2) micromarketing 3) benefit targeting 4) differentiated targeting 5) undifferentiated targeting

4) differentiated targeting

Successful first movers create a market or a product category. They often benefit from being readily recognizable to consumers and 1) not having to pay advertising expenses. 2) using prototypes to dominate the market. 3) not needing to do test marketing. 4) establishing an early market share lead. 5) motivating laggards to buy their products.

4) establishing an early market share lead.

Elena is in the process of buying a new car. There are many possible cars to choose from, but she is focused on a few she would actually consider buying. These make up her __________ set. 1) universal 2) retrieval 3) immediate 4) evoked 5) focus

4) evoked

When consumers associate a brand with a certain level of quality and familiar attributes, allowing consumers to make quick decisions, the brand 1) establishes novelty. 2) is the only one the consumer will consider. 3) reduces delivery costs. 4) facilitates purchasing. 5) creates brand dilution.

4) facilitates purchasing.

Ryan believes he is responsible for his actions, and he will conduct extensive searches before making a purchase. Michael's favorite phrase, when confronted by the need to make a decision, is "Whatever." In marketing terms, Ryan is said to have a(n) __________ and Michael, a(n) __________. 1) obsessive personality; laissez-fair approach 2) formal search function; casual search function 3) increased search anxiety; decreased search anxiety 4) internal locus of control; external locus of control 5) focused sense of information; unfocused sense of information

4) internal locus of control; external locus of control

Eric is a sales rep for an established building materials manufacturer. Business is good, but he is concerned that the company has spent little on new product development and has not created a new product in over five years. Without new products, Eric can only market to his current customers or 1) diversify. 2) intensify his prototyping. 3) expand his early adopter market segment. 4) market the same products to similar customers. 5) focus on concept testing.

4) market the same products to similar customers.

After need recognition, a business develops __________ that suppliers might use to develop their proposals. 1) derived demand 2) initiator instructions 3) determinant attributes 4) product specifications 5) focal alternatives

4) product specifications

Ronaldo wants to develop an Internet auction-based business and is working through the STP process. After establishing his objectives, describing potential market segments, and evaluating the attractiveness of each segment, Ronaldo now has to 1) differentiate his product line. 2) consider future customer loyalty. 3) create a perceptual map. 4) select a target market. 5) divide geographic segments into lifestyle groups.

4) select a target market.

Just as marketers create value by meeting the needs and wants of consumers, market researchers create value if 1) the research is expensive. 2) all participants like the research design. 3) the research does not cost too much. 4) the results will be used in making management decisions. 5) the research is finished quickly.

4) the results will be used in making management decisions.

Kim is the sales representative for a major textbook publisher. When she calls on the business faculty at General University, she also tries to meet with several students to get their feedback on textbooks. She passes this feedback to her managers to guide the development of the publisher's future textbooks. The students are the __________ in the buying center. 1) deciders 2) initiators 3) influencers 4) users 5) gatekeepers

4) users

When referring to exchange, marketers are focusing on 1) the location where products and services are traded. 2) the price charged, adjusted for currency exchange rates. 3) location-based tactics for creating value. 4) promotional offers designed to stimulate barter. 5) The trading of things of value

5) The trading of things of value

When Karen realized her dog had fleas, Karen had 1) a social-perceptual incongruence. 2) a psychological need. 3) a cognitive learning failure. 4) a universal shopping need. 5) an unsatisfied need.

5) an unsatisfied need.

The basic goal of integrated marketing communications is to 1) create desire. 2) manipulate consumers. 3) outspend competitors. 4) tell the world about your company. 5) communicate the value proposition to the target market.

5) communicate the value proposition to the target market.

In integrated marketing communications, encoding involves 1) converting consumers' ideas into value propositions. 2) differentiating noncommercial speech from commercial speech. 3) converting the decoder into the receiver. 4) interpreting click-through rates. 5) converting the sender's ideas into a message, which could be verbal, visual, or both.

5) converting the sender's ideas into a message, which could be verbal, visual, or both.

Sales of electric components manufactured by Rick's company depend on sales of new cars. Rick's company faces __________ demand. 1) synthetic 2) situational 3) monopolistic 4) contrived 5) derived

5) derived

Robin recently bought Voice over Internet Protocol (VoIP) phone service. A few of Robin's friends bought VoIP before she did, but many other friends were interested in Robin's opinions of the new phone service. Robin is a(n) __________ in this product category. 1) innovator 2) laggard 3) late majority 4) early majority 5) early adopter

5) early adopter

After posting an RFP for telecommunications equipment, USF Corporation received six proposals from qualified vendors. Next, USF will 1) recognize obstacles that must be circumvented. 2) reevaluate the firm's needs. 3) give one vendor a purchase order. 4) conduct vendor analysis. 5) evaluate the proposals and narrow the choice to a few suppliers.

5) evaluate the proposals and narrow the choice to a few suppliers.

Gerald has a number of customers for his lawn care service who never question his bill but expect their lawns to be perfect. These customers do not want low prices, they want 1) a sales orientation. 2) fixed costs. 3) cross-price discounts. 4) a target return. 5) high value.

5) high value.

Which of the following is NOT one of the four overarching strategies to create and deliver value and to develop sustainable competitive advantages? 1) locational excellence 2) customer excellence 3) operational excellence 4) product excellence 5) planning excellence

5) planning excellence

Between concept testing and market testing, a firm should engage in which stage of the product development process? 1) securing financial backing 2) marketing research 3) brainstorming 4) determining potential ROI 5) product development

5) product development

Health clubs often use a low, introductory offer price to get people to join their club. These low prices represent a ______________ pricing strategy. 1) maximizing profits 2) target profit 3) target return 4) status quo 5) sales orientation

5) sales orientation

Greta is concerned that one of the potential market segments she has identified for her dog grooming service is too small and has too little income to have sufficient buying power. Greta is concerned with whether the segment is 1) responsive. 2) profitable. 3) reachable. 4) identifiable. 5) substantial.

5) substantial.