Marketing FInal

The most popular _____________ discount pricing strategies are cash, quantity, trade, promotional and seasonal discounts

B2B

What is intellectual property?

Something that comes from a person's mind, such as an idea, invention, or process

What are the two most important questions that a company must have answered before launching a new product?

Will the target market customer buy the product? Can the company produce and sell the product profitably?

What is an intermediary?

a business in the supply chain between the manufacturer or producer and the end user

Which of the following is not true of place as one of the four P's of marketing?

a major part in the decision of place is selecting the price mix

What is a brand promise?

a statement made by an organization to its customers that tells customers what they can expect from its products

A(n) __________________ is used to add depth to existing product lines in order to support the product mix and sales

addiction to an existing product line

A(n) ________________ is used to add depth to existing product lines in order to support the product mix and sales

addition to an existing product line

What is a bait and switch

advertising one product with the intent of persuading customers at different prices based on personal characteristic

Why is product the primary P of the marketing mix?

all of the above

When conducting formal research, the step that involves data mining and creating graphs

analyzing the data

The value of having a well-known brand name

brand equity

A statement made by an organization to its customers that tells customers what they can expect from its products

brand promise

Which of the following is not considered a tangible element of a brand?

brand promise

A plan to develop a brad in a way that supports the goals of the business is known as __________________

branding strategy

What is the third step in new product development?

business analysis

Which of the following is not one of the 3 C's of credit?

cash

What branding strategy combines the products of one or more manufacturers in the creation of a product?

co branding

A pricing strategy based primarily on what competitors charge is _____________ pricing

competition based

Consumer products that are brought often and with little effort are __________________.

convenience

Which of the following is not considered part of an advertisement's graphics?

copy

Companies that sell identical or very similar products are engaged in __________ competition.

direct

These buying motives are based on feelings, and social needs. for example, a person who wants to be accepted by his or her peers may buy the same brand of jeans

emotional buying motives

An analysis of the external facts that affect the success of a business is a(n) ________________.

environmental scan

The final step of the consumer decision-making process is _________________.

evaluate the decision

IF Nabisco decided to add in a flavor of Oreo cookies, they would be doing what to their product mix?

expanding the product depth or oreos

To facilitate global distribution, many US businesses use a(n) _______________ to help with foreign customs offices ; documentation ; and sizing weight and measurement conversions

export management company

Which type of brand is not advertised?

generic brand

Region, climate, and population density are examples of ______________ segmentation.

geographic

During which stage of the product life cycle are your product sales increasing the most rapidly?

growth

What is the purpose of an advertisement's signature?

identify the person or company paying for the advertisement

Services are different from goods in four important ways. What are they?

intangible, inseparable, variable, perishable

Business structure, goals, and management are examples of ___________________ buying influences

internal

What are the four stages of the product life cycle?

intro, growth, maturity decline

What of the following does not influence consumer buying behavior?

level of buying decision

A ________________ buying decision is one requiring some amount of research and planning

limited

This level of Maslow's Hierarchy of needs has to do with the need to be liked and respected

love and acceptance

Which of the following is not something you need to consider when creating a survey?

make sure each question is explained thoroughly

Pricing objectives typically fall under one of two categories. What are they?

maximize profit or maximizing price

The process of determining the best media that meets a campaign's objectives is ___________

media planning

Which of the following are examples of print media?

newspapers, magazines, directories

Which type of buying motive is based on features of a specific store or product?

patronage

How can Maslow's Hierarchy of Needs be applies to consumer behavior?

people will buy products to meet needs at the bottom of the pyramid before buying products to meet higher needs

Which if the following is not a goal of branding efforts?

persuade people to use the band names in place of the generic product category

______________________ is the use of logic to change a belief or get people to take a certain action

persuasion

Which psychological pricing strategy sets high prices to convey quality and status?

prestige pricing

Which if the following is not one of the elements that can be changed in order to meet customer needs?

price

Which of the following is not one of the elements that can be changed in order to meet customer needs?

price

Decision made about pricing levels, discount offered, and credit offered to customers is the __________________

price line

A line created exclusively for Menards would be considered a(n) _____________

private label brand

Which type of brand applies to products owned by and created specifically for large retailers?

private label brand

During this stage of new product development the product idea becomes a reality

product design

A _____________ is a group of closely related products within the product mix.

product line

A marketing professional who guides the selection of products and oversees the marketing and sales of those products is a __________________

product manager

All the goods and services a business sells is their ____________

product mix

What occurs when a product becomes outdated?

product obsolescence

Samsung is releasing a new tablet that is faster and more efficient than previous models This would be an example of what type of trend?

product trend

The coordination of marketing communication to achieve a specific goal is a(n)______________

promotional campaign

Which of the following are examples of broadcast media?

radio and television commercials

Which type of business purchase is similar to a routine buying decision for a consumer?

repeat purchase

Existing products that are marketing in a new way are _______________________

repositioned existing products

Which type of business buys finished products to resell to customers?

reseller

Going into a familiar store and buying a shampoo you've used for 2 years is an example of what type of buying decision?

routine

Which of the following is NOT a goal of promotion?

sell

Coordinating the events happening throughout the supply chain is __________________

supply chain management

A visual that displays information in columns and rows and is often used to compare data.

table

The process of introducing a new product to a small portion of the target market to learn how it will sell is called _________________

test marketing

Which of the following is a disadvantage of offering credit to customers?

the possibility of credit not being repaid

What is the goal of commercialization?

to bring attention to a product and hopefully create a demand for it

Which type of credit is granted to a business for a short period of time to purchase goods or services?

trade credit

What is the most common method of distribution occurs when there is only one distributor of products in a market area?

trucks

A PEST analysis of the external factors that affect the success of a business

true

A large gathering of businesses for the purpose of displaying products for sale is called a trade show

true

A modified purchase is a decision to buy a familiar product that needs some changes or modifications

true

A normative reference group is one that directly influences an individual such as family or peers

true

One of the rewards that comes from a business extending credit to their customers is the generation of sales

true

____________________ allows customers to compare prices based on a standard unit of measure, such as an ounce or a pound

unit pricing

________________________ is information about products that customers or viewers feel compelled to pass along to others

viral marketing

What is price discrimination?

when a company sells the same product to different customers at different prices based on personal characteristic

Which of the following is not a characteristic of a target market?

willingness to buy the product even if the individual does not have enough money to do so