Marketing Final Exam

Although it might seem that the market leader has the most going for it, challengers often have what some strategists call a(n) ________. The challenger observes what has made the leader successful and improves upon it.

"second mover advantage"

Phoenix, a popular coffee shop chain in North America, recently opened 400 stores to cater to its rapidly increasing number of patrons. This exemplifies _________.

Market penetration

________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Marketing research

________ creates a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.

Omni-channel retailing

The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.

Outside-in perspective

In return for participating in Honda advertising and sales support programs, Honda dealerships are rewarded with payments or price reductions, which are known as ________.

Promotional allowances

You receive a report that 68 percent of your target market has been exposed to your ad campaign during a given period of time. Which of the following aspects of media selection is represented by this information?

Reach

Which of the following is a challenge of marketing through online social networks?

Results are hard to measure.

Craftsman Furniture Company offers its bedroom and living room furniture through independent and smaller chain furniture stores, not through every store that sells furniture. It uses ________ distribution.

Selective

Which term refers to looking at merchandise at a traditional store and then purchasing the merchandise online?

Showrooming

Which type of product does Delgado manufacture?

Specialty

Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called ________ and includes broadcast, mobile, print, and online forms.

Advertising

Which of the following promotion tools involves building up a good corporate image and handling unfavorable stories and events?

public relations

A regional supermarket chain runs print, radio, and television advertisements announcing that 1 percent of its sales is donated to local after-school programs for underprivileged youth. This is an example of ________.

Cause-related marketing

Fifty percent of the market is in the hands of Company A, 30 percent is in the hands of Company B, 15 percent is in the hands of Company C, and the remaining 5 percent is in the hands of Company D. Based on these hypothetical numbers, Company B is the market ________.

Challenger

Which of the following microenvironment actors has had the most influence on the Landing?

Competitors

FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these benefits against the monetary cost of using FedEx along with other costs of using the service, they are acting upon ______.

Customer-perceived value

Greg Williams now has the buying power to purchase the desktop computer that he has wanted for the last six months. Greg's want now has become a(n) ________.

Demand

The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market. Which of the following environments is being studied in this scenario?

Demographic environment

An MIS user should most likely be able to ________.

Develop customer insights

Effective positioning begins with ________.

Differentiation

Amazon.com and GEICO approach customers via Web sites or mobile apps. This is an example of ________ marketing.

Direct

Elmo Corp., a manufacturer of personal computers and printers, recently established an office furniture exporting business. This is an example of _________.

Diversification

Which of the following is NOT one of the major variables used in segmenting consumer markets?

Ethical

While looking for ideas on how to craft a user-friendly dishwasher, the designers of a dishwasher-manufacturing company spent 10 days observing people as they used their dishwashers in their homes. In this instance, the designers were conducting ________.

Ethnographic research

Ocean Spray sells its air fresheners only through Ray's Drugs. This is an example of ________ distribution.

Exclusive

Juanita Petino, a nutritionist, decided to test the effects of two breakfast cereals, Kinglo and Loopy, on different consumer groups. For the purpose of her study, she divided 20 volunteers into two groups and asked the members of one group to have Kinglo cereal and the members of the other group to have Loopy cereal for breakfast. She decided to compare the responses of the volunteers after a week to gain deeper insights into consumer attitude. In this instance, Juanita is using ________.

Experimental research

Flurrbies, a brand of unique winter accessories that quickly fell in and out of favor with customers, is an example of a ________.

Fad

Kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. After the cereal begins to appear in these new markets, the company increases its promotion expenditure to counteract competitive responses. Kellogg's is in the ________ stage of the product life cycle.

Growth

if demand hardly changes with a small change in price, the demand is ________.

Inelastic

Whitelight sells its toothpastes in many convenience stores across the country. This is an example of ________ distribution.

Intensive

Which of the following stages of the PLC is characterized with high promotional expenditures that result from an effort to create consumer awareness?

Introduction

Which of the following is an adverse effect of using promotional pricing?

It creates "deal-immune" customers if used often.

Which of the following is a disadvantage of using a differentiated marketing strategy?

The costs of doing business increase.

Which of the following is the macroenvironmental force that has had the greatest effect on the Landing?

The demographic environment

Which of the following is most likely an advantage of survey research?

The flexibility of survey research is high; it can be used to obtain many different kinds of information in many different situations.

Which of the following is true with regard to strategic planning?

The focus of strategic planning is to define a game plan for long-run survival and growth.

Which of the following is the macroenvironmental force that benefitted The Landing the most?

The natural environment

Which of the following statements is true of the idea generation stage in the new product development process?

Truly innovative companies develop extensive innovation networks that capture ideas and inspiration from every possible source.

________ refers to a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.

Undifferentiated marketing

Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ________.

Value creation and exchange

In conducting ________, the company first identifies the major attributes that customers value and the importance customers place on these attributes. Next, it assesses its performance against competitors on those valued attributes.

a customer value analysis

The manufacturer of Crest toothpaste provides free samples of its toothpaste to dentists and encourages them to distribute these samples to their patients and to inform the patients about advantages of using Crest. The manufacturer of Crest toothpaste is using ________.

a push strategy

Plasticine Palace supplies its products exclusively to Arts & Crafts, a chain of stationery stores across the country. The chain then makes the plasticine available to end consumers. This is an example of ________.

an indirect marketing channel

Rather than competing head to head with established competitors, many companies seek out unoccupied positions in uncontested market spaces. They try to create products and services for which there are no direct competitors. This is called a ________.

blue ocean strategy

When faced with a competitor who has cut its product's price, which of the following is the most cost-effective way for a company to maintain its own price but raise the perceived value of its offer?

by altering the company's marketing communications

When Verizon Wireless began offering the iPhone, it used its "Can you hear me now?" slogan to attack AT&T's rumored spotty service. This example best illustrates ________.

comparative advertising

An easier, more comfortable, more stylish transfer of thought onto paper refers to the ________ of Ruben's offerings.

core customer value

Karl Harris, a marketing critic, is concerned about the pervasiveness of marketing. He points out that advertising messages are everywhere, from Web sites and e-mails to unwanted direct mail and catalogs to television commercials and product tie-ins to billboards and store signage. Karl is concerned about ________.

cultural pollution

What sets the ceiling for product prices?

customer perceptions of the product's value

All of the following steps pertain to the marketing control process EXCEPT ________.

defining the company's mission

Lovelies is the leading workout and fitness center for women. The regional chain of gyms has traditionally catered to women age 40 and older who are interested in strength and cardiovascular training. Lovelies has recently begun promotions to bring younger women into its gyms. This is an example of how the market leader ________.

develops new users

SparkClean is a company that specializes in producing cleaning products for automobiles. In order to promote its products, SparkClean sends a complimentary sample of its products to auto enthusiasts. Which form of marketing is SparkClean involved in?

direct-mail marketing

Retailers such as Costco and Walmart charge a constant, daily low price with few or no temporary price discounts. This is an example of ________ pricing.

everyday low

At Neiman Marcus, a first-class department store, customers shop for high-end products and they are assisted in every phase of the shopping process. Neiman Marcus is a ________.

full-service retailer

Consumers are less likely to use price to judge the quality of a product when they ________.

have experience with the product

Department stores such as Kohl's and JCPenney's practice high-low pricing by ________.

having frequent sale days for store credit-card holders

BlueFin canned tuna has higher sales than its unbranded rival, even though the unbranded tuna costs $0.45 less per can than BlueFin tuna. BlueFin most likely has ________.

high brand equity

In which of the following situations has a company most actively embraced customer-managed relationships?

iRobot invites enthusiastic Roomba owners to develop and share their own uses for the company's robotic vacuum cleaner.

When P&G developed the Mr. Clean Magic Eraser, the company needed to explain how the product cleans grime from walls without removing paint. What type of campaign was most likely used by P&G for the Mr. Clean Magic Eraser?

informative advertising

Today, most companies are adopting the concept of ________, which carefully combines and coordinates the company's many communication channels to deliver a clear, consistent, and compelling message about the organization and its brands.

integrated marketing communications

When marketers at Fair & Leigh Inc. selected the Millennials, a demographic group that includes many college students, as an untapped group of potential customers for their new line of products, they were engaging in ________.

market targeting

Gant Hardware is a huge chain of hardware stores. GantHardware.com helps customers conduct product research and also lets them order directly online or redirects them to the nearest Gant retail store. Which of the following best describes GantHardware.com?

marketing Web site

A ________ is a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user.

marketing channel

Which of the following stages in the new product development would a firm engage in immediately after the completion of concept testing?

marketing strategy development

Kirk's Comic Store has its own mobile app that users can download for free. The app lets users know about special events, discounts, and merchandise currently available in the store. Which of the following forms of marketing is exemplified from this scenario?

mobile marketing

Ferrari sports cars claim superior quality, performance, and style. Ferrari provides "perfection" at a premium price to keep its brand image intact. Which type of value proposition does Ferrari most likely position its products with?

more for more

Overstock.com, a Web seller that buys furniture, clothing, electronics, and more from a variety of producers at less-than-regular wholesale prices and then charges customers less than retail, is a(n) ________.

off-price retailer

Trendy Teens manufactures fashionable clothing and accessories for the tween and teen female markets. New merchandise with a very different look is rolled out each season and heavily promoted as the "must-have" style in a variety of media. This information indicates that Trendy Teens is most likely to be criticized for ________.

perceived obsolescence

Underpriced products ________.

produce less revenue than they would if they were priced at the level of perceived value

The new felt-tip pens, multiple-cartridge pens, and quills offered by Ruben Delgado are examples of ________.

product line filling

Pepsi being prominently featured on episodes of Empire is an example of ________.

product placement

Which term refers to prices that buyers carry in their minds and check with when they look at a given product?

reference prices

The use of short-term incentives to encourage the purchase or sale of a product or service is called ________.

sales promotion

Dove wanted to do more than just sell its beauty care products. The company was on a quest to discover "real beauty" and help women be happy just the way they are. As a result, the Dove Campaign for Real Beauty was successfully launched in 2004. Which of the following types of marketing did Dove use?

sense-of-mission marketing

Under the ________ concept, each manager must look beyond what is legal and develop standards based on personal integrity, corporate conscience, and long-run consumer welfare.

societal marketing

GameStop sells only video games and systems, offering a narrow product line with a deep assortment within that line. GameStop is a(n) ________.

specialty store

Gainville Inc. manufactures Android phones. Each new Gainville phone launch advances the cause of democratizing technology. Gainville, an expert in fostering customer community, engages customers at a deep, emotional level, and has been ranked one of the Breakaway Brands by the brand consultancy, Kendell Associates. Gainville is most likely positioned on ________.

strong beliefs and values

McDonald's "Commitments to Offer Improved Nutrition Choices" strategy has added healthy food options to its menu, phased out traditional artery-clogging trans fats, launched a major multifaceted education campaign, and addressed environmental issues. This strategy best exemplifies the ________ concept.

sustainable marketing

Snappy Cameras is launching a new advertising campaign to demonstrate the high quality of its digital cameras. Which media option would give the audience the most control over exposure to the ads and interactive capabilities?

the Internet