Marketing Final

Which of the following statements is true of service failures? a. If handled effectively, they will result in customer loyalty b. They can be solved by cancelling return policies c. Retailers cannot recover from service failures d. They can be eliminated by successful market segmentation

a If handled effectively, they will result in customer loyalty

Which of the following statements is true of a target market? a. A marketing mix is designed to appeal to a target market b. All the people in a target market share similar tastes, needs, incomes, and lifestyles c. A target market is a closed group of people who do not drop out or allow new people into the group d. Any change in a target market can be easily controlled by marketers

a. A marketing mix is designed to appeal to a target market

Identify a true statement about global branding strategies. a. A one-brand-name strategy is useful when a company markets mainly one product b. A one-brand-name strategy reduces the ease of coordinating promotion from market to market c. Using different brand names in different markets means that a company does not follow localization d. Using different brand names in different markets leads to greater identification of the product from market to market

a. A one-brand-name strategy is useful when a company markets mainly one product

____ is the process by which meanings are exchanged or shared through a common set of symbols. a. Communication b. Evaluation c. Research d. Analysis

a. Communication

Which of the following is true of marketing? a. It focuses on delivering value and benefits to customers. b. It is more of a philosophy rather than an organization function. c. It rewards the seller and not the buyer of a transaction. d. It is focused on just selling goods, services, an/or ideas.

a. It focuses on delivering value and benefits to customers.

Which of the following statements is true of the development stage of the new-product development process? a. It involves examining the feasibility of manufacturing a product at an acceptable cost b. Simultaneous product development increases the time spent in the development process c. Costs decrease dramatically once a product idea enters the development stage d. It involves evaluating a new-product idea before creating any prototype

a. It involves examining the feasibility of manufacturing a product at an acceptable cost

Which of the following statements is true of mass customization? a. It uses technology to customize the products of a firm b. It cannot cater to the needs of different customer groups c. It focuses on customizing rather than standardizing products d. It does not respond to individual customers' needs

a. It uses technology to customize the products of a firm

____ is based on the traditional advertising model, whereby a brand offers money for media space. a. Paid media b. Free media c. Earned media d. Owned media

a. Paid media

____ refers to communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response. a. Promotion b. Encoding c. Upselling d. Production

a. Promotion

Laelle Airlines, an international airlines company, offers a variety of services to its customers. Given this information, which of the following is the core service provided by Laelle Airlines? a. Providing plush seats with comfortable legroom for its passengers b. Offering souvenirs to all the passengers after the travel c. Providing personalized toiletries, including wet towels and sleep masks, for all passengers d. Offering three-course meals for the passengers who travel in the airlines

a. Providing plush seats with comfortable legroom for its passengers

Which of the following is a difference between a push and a pull strategy? a. Wholesalers are targeted in a push strategy, while end consumers are targeted in a pull strategy b. A push strategy focuses on content marketing, while a pull strategy focuses on offering aggressive discounts c. Social media is used in a push strategy, while personal selling is used in a pull strategy d. No intermediaries are involved in a push strategy, while wholesalers and retailers are involved in a pull strategy

a. Wholesalers are targeted in a push strategy, while end consumers are targeted in a pull strategy

Choosing the right distribution channel for a service would: a. add to customer convenience b. vary service quality across different geographic regions c. increase the costs of providing the service d. decrease the time the service is made available

a. add to customer convenience

Laelle Corp., a furniture manufacturing company, uses marketing efforts like paid television commercials and magazine inserts to publicize its products. These are examples of activities associated with: a. advertising b. franchising c. personal selling d. nonstore retailing

a. advertising

Unlike traditional methods of personal relationship selling; a. focuses on maintaining a loyal relationship between a salesperson and a customer b. focuses on creating a win-lose situation as the objectives of the seller are at the expense of the buyer c. focuses on making quick sales that stimulate immediate increases in demand d. focuses on accomplishing the objectives of a salesperson

a. focuses on maintaining a loyal relationship between a salesperson and a customer

A proper promotional mix is one that: a. meets the needs of a target market b. entails indirect, one-way communication c. does not use advertising d. works for all products of a company.

a. meets the needs of a target market

A ____ requires a manufacturer to focus its promotional efforts on end consumers. a. pull strategy b. print marketing strategy c. service strategy d. push strategy

a. pull strategy

Three Arrows Inc. is a company that manufactures bags from recycled paper. Its marketers receive complaints that the bags easily become wet and tear after a few weeks of use. They decide to respond to their customers' needs by using a thicker, waterproof paper. This is an example of _____. a. quality modification b. product placement c. functional modification d. planned obsolescence

a. quality modification

A code of ethics: a. should be in written form to avoid confusion b. should be limited to a list of do's and don'ts c. should be kept confidential from a firm's employees d. should exclude guidelines for day-to-day activities

a. should be in written form to avoid confusion

An objective of a seller engaging in personal selling is: a. to persuade a buyer to accept a point of view b. to make a one-time sale rather than a long-term relationship c. to use social media sites to talk with large audiences d. to increase the cost of the product that is being sold

a. to persuade a buyer to accept a point of view

Understanding the advertising response function helps marketers: a. use their advertising budgets wisely to suit the target market b. know the real effect of an advertising campaign c. increase the sales and market share of a brand d. gain publicity for a brand

a. use their advertising budgets wisely to suit the target market

Rent-a-Drive is a car rental company. It prices its cars based on operations-oriented pricing. In this case, Rent-a-Drive: a. varies the prices according to supply and demand of cars b. maximizes the surplus of income over its costs c. varies prices for customers form different market segments d. allows customers to negotiate price

a. varies the prices according to supply and demand of cars

Which of the following statements is true of strategic planning? a. Strategic planning lacks an understanding of customer and the market. b. A good strategic plan can help protect and grow a firm's resources. c. The goal of strategic planning is to create daily operational schedules for first-line workers. d. Strategic decisions require short-term commitments of resources.

b. A good strategic plan can help protect and grow a firm's resources.

Which of the following is a difference between an attribute and a benefit of a product? a. An attribute is bought by consumers, while a benefit is not bought by consumers b. An attribute is simply a feature of a product, while a benefit is what consumers receive by using a product c. An attribute cannot be experienced by consumers, while a benefit is tangible and can be experienced d. An attribute includes pleasure or improved health, while a benefit includes an easy-open package or a special formulation

b. An attribute is simply a feature of a product, while a benefit is what consumers receive by using a product

Which of the following is a similarity between trade sales promotion and consumer sales promotion? a. Both aim to segment a market based on its characteristics b. Both focus on providing incentives to consumers or wholesalers to make an immediate purchase c. Both focus on providing push money and trade allowance to loyal consumers d. Both aim to increase sales by using point-of-purchase display

b. Both focus on providing incentives to consumers or wholesales to make an immediate purchase

Which of the following statements is true of corporate social responsibility? a. Businesses never perpetrate social problems as the primary objective of businesses is making profits b. Businesses have resources, so businesses should be given the chance to solve social problems c. The primary responsibility of social welfare rests with governments and not business firms d. The free market, not companies, should decide what is best for the world

b. Businesses have resources, so businesses should be given the chance to solve social problems

Which of the following statements is true of an effective business mission statement? a. It is after the details of a marketing plan are developed. b. It is based on an analysis of anticipated environmental conditions. c. It should define a business in terms of goods and services rather than in terms of the benefits customers seek. d. It is kept confidential from customers and stakeholders.

b. It is based on an analysis of anticipated environmental conditions.

Which of the following statements is true of an express warranty? a. It gives the impression of environmental friendliness to a product b. It ranges from simple statements to extensive documents written in technical language c. It prohibits other firms from using a brand or part of a brand without permission d. It is a unwritten guarantee that a good or service is fit for the purpose for which it is sold

b. It ranges from simple statements to extensive documents written in technical language

____ represents all the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use. a. Product development b. Retailing c. Manufacturing d. Production

b. Retailing

____ is a promotional element with a very low cost per contact. a. Personal selling b. Social media c. Public relations d. Sales promotion

b. Social media

Which of the following statements is true of today's consumers in the US? a. They emphasize more on a product's price than its quality b. They are concerned about the nutrition in their food c. They seldom give preference to brand names d. They tend to choose products that are expensive

b. They are concerned about the nutrition in their food

Identify a true statement about production-oriented firms. a. They do not focus on this internal capabilities. b. They lack an understanding of the needs and wants of the marketplace. c. They focus on their customers and have quick cycle times. d. They determine what products their customers want and them produce them.

b. They land an understanding of the needs and wants of the marketplace.

Which of the following statements is true of baby boomers? a. They are a small market with minimal spending power b. They lay emphasis on price and quality while making purchase decisions c. The youngest baby boomers were around 34 ears old in 2013 d. They prefer to be addressed "senior," "elderly," or "aged"

b. They lay emphasis on price and quality while making purchase decisions

Which of the following statements is true of channel members? a. They provide generalization of labor b. They provide contact efficiency c. Agents and brokers take ownership of goods in the marketing channel d. Merchant wholesalers create form utility

b. They provide contact efficiency

Under the Foreign Corrupt Practices Act (FCPA), a. several US businesses are offered significant advantages b. US corporations are prohibited to make illegal payments to foreign governments c. US corporations are prohibited to involve in international business dealings d. prosecutions against bribery have significantly declined

b. US corporations are prohibited to make illegal payments to foreign governments

Unlike in the mass production era, in today's marketplace: a. supply chain management reflects a completely employee-driven management philosophy b. businesses focus on partnering with members of the supply chain to enhance customer value c. companies that focus on supply chain management commonly report high inventory costs d. standardized products are "pushed" down through marketing channels to consumers

b. businesses focus on partnering with members of the supply chain to enhance customer value

The most obvious function of packaging is to: a. protect a brand name from being declared a generic product name b. contain products that are liquid, granular, or otherwise divisible c. secure the right of a company to use a brand or part of a brand d. even out seasonal sales patterns

b. contain products that are liquid, granular, or otherwise divisible

The North Star Hotel, a luxury hotel, encourages its employees to develop strong, personal relationships with guests. It offers customized toiletries to its customers based on their preferences. It also has an entire floor dedicated to suites that have air purification systems. These value-added services make The North Star Hotel unique as these services are not available at other hotels. In this scenario, The North Star Hotel is at the ____ of relationship marketing. a. social level b. customization level c. structural level d. financial level

b. customization level

In the context of adopters who participate in the diffusion process, a difference between early adopters and the early majority is that the early majority are: a. self-confident, and they rely less on group norms b. likely to collect more information and evaluate more brands c. more likely to be opinion leaders d. less likely to extend the adoption process

b. likely to collect more information and evaluate more brands

As receivers in the communication process, marketers: a. promote the purchase of goods and services b. listen to the target market in order to develop appropriate messages c. persuade the target market to buy a company's products d. inform and remind the target market of new and existing products

b. listen to the target market in order to develop appropriate messages

In the context of ethical behavior, morals: a. set absolute standards for good and bad that are enforced by the law. b. may reflect the laws and regulations that affect social and economic behavior. c. are universal and seldom vary. d. set absolute standards for good and bad that are enforced by the law.

b. may reflect the laws and regulations that affect social and economic behavior.

Tina is an expert in gardening. She provides services like setting up new gardens, maintaining gardens, and landscaping. In the context of service processes, the services provided by Tina come under the category of ____. a. mental stimulus processing b. possession processing c. people processing d. information processing

b. possession processing

_____ is the channel used to convey a message to a target market. a. Audience selectivity b. Reach c. A medium d. An advertising appeal

c. A medium

Advertising campaigns follow the ______. a. IMC model b. BCG matrix c. AIDA model d. SWOT matrix

c. AIDA model

Which of the following is an example of unmeasured media ad spending? a. Magazines b. Cable TV c. Catalogs d. Newspapers

c. Catalogs

Nutrioats, an oatmeal cookie product, has been in the market for over 7 years. However, the product is not in its decline stage. In this case, which of the following will be a successful strategy to market Nutrioats? a. Focusing on adding new users b. Lengthening the product line c. Eliminating all nonessential marketing expenses and letting sales decline d. Spending heavily on advertising to educate consumers about the product's benefits

c. Eliminating all nonessential marketing expenses and letting sales decline

Which of the following is a sales-oriented organization? a. Magnira Corp. that understands the need and wants of the marketplace. b. Laelle Inc. that believes that a sale is based on a customer's decision to purchase a product. c. Fillets Inc. that believes in the philosophy that aggressive sales techniques can result in high sales. d. Fournotts Corp. that produces what the company management thinks should be produced.

c. Fillets Inc. that believes in the philosophy that aggressive sales techniques can result in high sales.

_____ is the number of times an individual is exposed to a given message during a specific period. a. Contact b. Life span c. Frequency d. Reach

c. Frequency

___ is a form of distribution aimed at maximum market coverage. a. Exclusive distribution b. Selective distribution c. Intensive distribution d. Narrow distribution

c. Intensive distribution

Which of the following strategies can help business firms stimulate innovation? a. Hiring employees who have low risk tolerance b. Instructing managers to use micromanagement techniques c. Using teams of writers to build scenarios of opportunities and threats d. Letting employees know that they must fear failure and should not attempt anything that might fail

c. Using teams of writers to build scenarios of opportunities and threats

Which of the following is true of click-and-collect? a. It employs outbound and inbound telephone contacts to sell directly to customers b. It requires representatives to sell products door-to-door, in offices, or at in-home sales parties. c. It enables consumers to make their purchases online and pick up their orders from physical stores. d. It allows customers to shop over the Internet and have items delivered directly to their door.

c. It enables customers to make their purchases online and pick up their orders from physical stores.

Which of the following is an advantage of retail channel omnification? a. It benefits retailers as customers must enter their stores in order to claim their purchases b. It allows customers to order products online and pick their orders from stores c. It enables retailers to offer competitive prices across their various outlets d. It benefits customers as they can shop from the comfort of their homes.

c. It enables retailers to offer competitive prices across their various outlets

_____ is a public relations strategy that involves getting a product, service, or company name to appear in a movie, television show, radio program, magazine, newspaper, video game, video or audio clip, book, or commercial for another product; on the Internet; or at special events. a. Corporate communication b. Audience selectivity c. Product placement d. Advergaming

c. Product placement

Which of the following is a difference between profit organizations and nonprofit organizations? a. Profit organizations market complex behaviors or ideas, while nonprofit organizations market tangible goods b. Profit organizations adopt undifferentiated segmentation strategies, while nonprofit organization adopt differentiated segmentation strategies c. Profit organizations focus on profit and sales maximization, while nonprofit organizations seek to redistribute income d. Profit organizations use public service advertisements for promotion, while nonprofit organizations use commercial advertisements for promotion

c. Profit organizations focus on profit and sales maximization, while nonprofit organizations seek to redistribute income

Who among the following is most likely to disapprove of unethical practices more strongly than others? a. Jason, an editor, who has noticed that all his managers agree that it is okay to plagiarize content to a small extent b. Rebecca, who has noticed that most of her colleagues often use office supplies for personal use c. Sarah, a manager, whose organization does not provide guidelines on ethical behavior d. David, who has noticed for the first time a colleague misrepresenting data in a report

c. Sarah, a manager, whose organization does not provide guidelines on ethical behavior

Jessica was born in 1994. She spends more time on Facebook than reading magazines. Despite her inclination toward social networking sites, she continues to listen to the radio and read magazines at times. Given this information, which of the following statement is true of Jessica? a. She is one of the first generation of latchkey children b. She does not expect brands to be on social media c. She is a younger Millennial d. She would have graduated from college during the Great Recession

c. She is a younger Millennial

Identify a true statement about specialty products. a. They are easily substituted with other products b. They are made directly available to a consumer through direct mail c. They are distributed to only a few outlets in a geographic area d. They are relatively inexpensive and merit little shopping effort

c. They are distributed to only a few outlets in a geographic area

Which of the following statements is true of the values held by tweens? a. They prefer and value traditional media over social media b. they are concerned about crime, climate change, and their health c. They forgo games and are moving toward entrepreneurship d. They are influenced by traditional advertising, sales reps, and work-of-mouth recommendations

c. They forgo games and are moving toward entrepreneurship

In the context of marketing planning, implementation involves: a. assessing internal capabilities of a firm b. defining the business mission c. allocating resources d. identifying market segments

c. allocating resources

Doodle Inc., a renowned interior design services company, tries to increase its customer base through Web presence. It regularly posts its interior decorations on its Web site, and its followers review the designs, suggest changes and recommend the company to their friends. This results in electronic word of mouth advertising. Doodle uses social media as a(n) a. owned media b. paid media c. earned media d. free media

c. earned media

A ____ is a media scheduling strategy in which ads are run heavily every other month or every two weeks to achieve a greater impact with an increased frequency and reach at those times. a. seasonal media schedule b. circular media schedule c. flighted media schedule d. continuous media schedule

c. flighted media schedule

A difference between good and services is that goods: a. can be assessed only after use b. exhibit more credence qualities c. have more search qualities d. are intangible performances

c. have more search qualities

If the goal of the promotion plan is to improve the image of the company or the industry, ____ may be used. a. competitive advertising b. comparative advertising c. institutional advertising d. pioneering advertising

c. institutional advertising

Wildside Inc., a company providing various wildlife tours, gives equal importance to customers and employees. The managers at Wildside Inc., ensure that the employees of the company are satisfied with their jobs. They believe that employees should be kept happy as they are brand ambassadors. This scenario is an example of _____. a. nonprofit marketing b. external marketing c. internal marketing d. shopper marketing

c. internal marketing

Outsourcing enables companies to: a. focus investment on their logistical functions rather than on core business. b. eliminate the need of using a third-party logistics company c. locate stocks at fewer plants and distribution centers d. lengthen the order-to-cash cycle

c. locate stocks at fewer plants and distribution centers

The managers at Pork Form Inc., a meat packing company, want to create more consumer demand for the company's products that are being overshadowed by its competitors. They have a meeting to decide the effective communication strategies that can be used to increase the popularity of Pork Farm Inc.'s products among customers by highlighting their company's products. In this scenario the managers at Pork Farm Inc. are developing a a. distribution strategy b. service strategy c. promotional strategy d. price strategy

c. promotional strategy

The best order fulfillment processes: a. manage volumes of returned product efficiently b. increase inventory levels of the firm c. reduce the time between order and customer receipt d. reduce coordination between multiple companies

c. reduce the time between order and customer receipt

Consumers usually buy a _____ only after comparing several brands or stores on style, practicality, price, and lifestyle compatibility. a. major product b. convenience product c. shopping product d. specialty product

c. shopping product

A ___ is defined as a system of management practices that are consistent with a system thinking approach. a. supply chain integration b. supply chain analytics c. supply chain orientation d. supply chain agility

c. supply chain orientation

The objective of public relations is: a. to facilitate consumer empowerment b. to create the promotional mix for an organization c. to educate the public about a company's goals and objectives d. to receive direct feedback from customers

c. to educate the public about a company's goals and objectives

The objective of test marketing is: a. to implement simultaneous product development b. to shorten the development process of a product and reduce costs c. to evaluate alternative marketing strategies d. to create three-dimensional prototypes quickly and at a relatively low cost

c. to evaluate alternative marketing strategies

The basic goal of promotion during the introduction stage of the product life cycle is: a. to target advertising to specific potential buyers b. to reduce the costs incurred in mass advertising c. to inform the target audience that the product is available d. to limit personal selling at the retail level

c. to inform the target audience that the product is available

Which of the following is an example of a promotion strategy that uses post purchase communication? a. An insurance company using an umbrella as its logo to convey that its customers are well-protected b. An airline hiring an actor to act in a series of commercials endorsing the airline's services c. A chartered accountant firm offering a 20% discount to all customers who avail its services in January d. A hotel sending an email survey to its guests asking them to rate the quality of service they received

d. A hotel sending an email survey to its guests asking them to rate the quality of service they received

In the context of SWOT - internal strengths (S), weaknesses (W), external opportunities (O), and threats (T) - analysis which of the following can be considered as a strength of an organization? a. Imitable products and services b. Increased taxes on products c. A new unserved market d. A superior production technology

d. A superior production technology

____ is a form of nonstore retailing that entails the use of machines to offer goods for sale. a. E-tailing b. Direct retailing c. Telemarketing d. Automatic vending

d. Automatic vending

Which of the following is a similarity between factory outlets and off-price retailers? a. Both carry multiple product lines that are considerably deep. b. Both offer high levels of customized service to customers c. Both follow an agile approach to inventory d. Both use low prices and discounts to lure shoppers

d. Both use low prices and discounts to lure shoppers

Which of the following statement is true of an organization's product mix? a. A wide product mix means that the product line is deep b. All product items in a product mix follow a standard marketing strategy c. A wide product mix decreases sales and profit-making potential d. Firms widen their product mix to capitalize on established reputations

d. Firms widen their product mix to capitalize on established reputations

____ negotiate with one another, buy and sell products, and facilitate the change of ownership between buyer and seller in the course of moving finished goods from the manufacturer into the hands of the final consumer. a. Early adopters b. Innovators c. Laggards d. Intermediaries

d. Internediaries

Which of the following statements is true about the Great Recession of 2008-2009? a. Tweens were the most affected population group b. It increased employment opportunities in the US c. Inflation rates increased to almost ten percent d. It began with the collapse of inflated housing prices

d. It began with the collapse of inflated housing prices

Which of the following statements is true of an implied warranty? a. It gives the impression of environmental friendliness to a product b. It prohibits other firms from using a brand or part of a brand without permission c. It ranges from simple statements to extensive documents written in technical language d. It comes with the sale of every product under the Uniform Commercial Code

d. It comes with the sale of every product under the Uniform Commercial Code

Which of the following statements is true of a marketing plan? a. It is a set of orally communicated rules and is seldom written down. b. It lacks the elements of advanced strategic planning. c. It is developed independently of the external business environment. d. It defines the business mission and objectives.

d. It defines the business mission and objectives.

Which of the following is a difference between off-price retailers and specialty shops? a. Off-price retailers charge higher prices for customers, whereas specialty shops charge lower prices for customers b. Off-price retailers focus on providing high quality customer service, whereas specialty shops de-emphasize customer service c. Off-price retailers keep a greater amount of floor stock, whereas specialty shops keep a lesser amount of floor stock d. Off-price retailers focus on lean inventory management, whereas specialty shops have an agile approach to inventory

d. Off-price retailers focus on lean inventory management, whereas specialty shops have an agile approach to inventory

____ is designed to stimulate a purchase or an action. a. Informative promotion b. Reminder promotion c. Connective promotion d. Persuasive promotion

d. Persuasive promotion

____ is the element in the promotional mix that evaluates people's attitudes, identifies issues that may elicit their concern, and executes programs to gain their understanding and acceptance. a. Sales promotion b. Advertising c. Personal selling d. Public relations

d. Public relations

Which of the following basic values strongly influenced attitudes and lifestyles during the United States' first 200 years? a. Nonconformity b. Self-dealing c. Structural mobility d. Self-sufficiency

d. Self-sufficiency

____ is a selling technique that seeks to broaden customers' original purchases with related items. a. Co-marketing b. Shopper marketing c. Benefit selling d. Suggestion selling

d. Suggestion selling

A difference between supermarkets and convenience stores is that unlike supermarkets, convenience stores: a. offer no service to customers b. charge lower prices c. enable customers to shop without visiting a physical store location d. carry a much more limited line of high-turnover convenience goods

d. carry a much more limited line of high-turnover convenience goods

The stakeholder theory of corporate social responsibility: a. excludes customers and government agencies from the list of stakeholders b. pays attention to the unaffected stakeholder in every aspect of a firm's operation c. does not consider the owners of an organization as the stakeholders d. considers the management of an organization as one of the stakeholders

d. considers the management of an organization as one of the stakeholders

Zingz is a soft drink that is widely distributed across cities. It is available at gas stations, department stores, and vending machines. Consumers buy the soft drink without much thought or effort. Zingz is an example of a _____. a. specialty product b. shopping product c. unsought major product d. convenience product

d. convenience product

Hakimo Corp., a manufacturer of audio equipment, has developed a unique wireless speaker system that runs on solar power. The speakers can operate for 16 hours after being exposed to the sun for 2 hours. This new product, which is radically different from anything currently available in the market, would fall in the new product category of a: a. revised product b. discontinuous innovation c. new and improved product d. repositioned product

d. discontinuous innovation

A ____ is the originator of a trade name, product, methods of operation, and the like that grants operating rights to another party to sell its product. a. wholesaler b. consumer c. broker d. franchisor

d. franchisor

When properly created, a strategic business unit (SBU) a. plans collaboratively with other SBUs of the company b. shares the mission of its parent company c. has no competitiors d. has a specific target market

d. has a specific target market

Kelly's Kitchen a popular chain of fast food restaurants, offers a kids' meal pack free with every purchase of its newly introduced luxury meal pack. This is an example of a: a. loyalty marketing program b. trade allowance c. rebate d. premium

d. premium

If an advertiser want to enhance the sales of a specific good or service, ____ should be used. a. corporate advertising b. advocacy advertising c. institutional advertising d. product advertising

d. product advertising

A ___ occurs when a company's management decides to add products to an existing product line in order to compete more broadly in the industry. a. product line classification b. product line contraction c. product line reeling d. product line extension

d. product line extension

Unlike magazine advertising, radio advertising: a. poses difficulty in communicating humor b. has longer lead time c. has high unit and production costs d. provides maximum flexibility

d. provides maximum flexibility

Lily's Apparel, a renowned apparel store, focuses on Gen Y customers and provides them with a customized clothing experience. The store helps the customers to design clothes that appeal to their individual style. Lily's Apparel has defined its target market by a. religion b. geographic boundaries c. educational qualifications d. psychographic characteristics

d. psychographic characteristics

Strategic retailing goals typically focus on: a. not using a retailing mix b. reducing return on assets or equity c. increasing the cost of goods sold d. reducing costs of goods sold

d. reducing costs of goods sold

Daisy's is a self-service retail store. Its various departments offer one-stop shopping for groceries, drugs, apparel, florists, and banking centers. Daisy's is an example of a a. factory outlet b. warehouse club c. category killer d. supermarket

d. supermarket

A market-oriented firm defines its business in terms of: a. goods and services. b. targeting the average customer. c. minimal promotion for high-quality products. d. the benefits its customers seek.

d. the benefits its customers seek.

An alternative to a commercial spot is ____, a thirty-minute or longer advertisement, which is relatively inexpensive to produce and air. a. a sweepstake b. a premium c. the frequent buyer program d. the infomercial

d. the infomercial