MKT 320F Final

Racial and Ethnic Diversity in America

Multi-racials"or "multi-ethnics" make up 2.4% of population, according to the US Census bureau (likely higher)

P&G has a lot of brands in the marketplace at different price points

Neither

Which of the following is not one of the stages of the product lifecycle?

New product strategy stage

Outbound Marketing and Inbound Marketing

Outbound Marketing: messaging delivered out towards customers Inbound Marketing: messaging designed to get customers to initiate communication towards the firm

When competing against other energy drinks like Red Bull and Monster, 5-Hour Energy is thinking through how to get its brand to occupy a clear, distinctive, and desirable place in its target customers' minds. What problem is it trying to solve

Positioning

Marketers use copy testing to assess the potential effectiveness of their marketing communications message. Which of the following measures comprises copy testing?

Pre- and post-viewing purchase intent

Firm's Incentive to sell

Price - COGS

Makes processes for established offers in established markets more effective or efficient. Examples include Dell's streamlining of its PC supply chain and order fulfillment systems, Charles Schwab's migration to online trading, and Wal-Mart's refinement of vendor-managed inventory processes.

Process Innovation

Takes established offers in established markets to the next level, as when Intel releases a new processor or Toyota a new car. The focus can be on performance increase (Titleist Pro V1 golf balls), cost reduction (HP inkjet printers), usability improvement (Palm handhelds), or any other product enhancement.

Product Innovation

Product Adaptions: Develop New prodcit

Product Invention

Company website: "Our materials make more possible. When you commit to market-leading innovations, amazing things happen. That's how we've continually enabled new possibilities." What is the firm's orientation?

Product-oriented

When Bose provides free headphones to Charles Barkley and other famous members of the NBA media, this is an example of

Public relations

ROI

ROI =(incremental profits gained - cost of marketing investment)/cost of marketing investment

_____ is a strategy that focuses on keeping and improving relationships with current customers.

Relationship marketing

Leaderboard to work alongside other members

Social Value

Workout alongside others with a list of other users in class with you and the ability to text chat

Social Value

Company website: "We are a consciously clean skincare + wellness brand whose mission is to disrupt the global beauty industry. Our intention is to increase accessibility, transparency, and sustainability in all aspects of what we create. From the fair sourcing of our shea butter to the creation of our homemade products, down to the responsible representation of people working with us at every end." What is the firm's orientation?

Societal

______ within the marketing channel can provide efficiencies and economies of scale as channel members take on tasks that best utilize their expertise or strategic relationships.

Specialization or Division of labor

The makers of Red Bull Energy Drink want to generate earned media and create associations between the brand and popular culture. Which of the following types of media vehicle may be particularly useful in this strategy?

Sponsorship of the Cliff Diving World Series

Capitalizes on disruption to restructure industry relationships. Innovators like Fidelity and Citigroup, for example, have used the deregulation of financial services to offer broader arrays of products and services to consumers under one umbrella. Nearly overnight, those companies became sophisticated competitors to old-guard banks and insurance companies.

Structural Innovation

Households in select zip codes with > $50,000 annual income

Substantial,Actionable,Identifiable,Accessible

Which of the following statements best describes the typical target market?

Target markets change over time as consumers drop in or out of the market, and as tastes change

Product LineDepth

The number of product Items in a product line.

Planned Obsolescence

The practice of modifying products so those that have already been sold become obsolete before they actually need replacement.

Diffusion

The process by which the adoption of an innovation spreads.

_____ specifies the research questions to be answered, how and when the data will be gathered, and how the data will be analyzed.

The research design

Which of the following choices is NOT a consideration for the depth of a product line?

The trialability of the product line.

Product MixBreadth

The variety & number of product lines an organization offers.

Which of the following is NOTlikely to be true of low-involvement purchases?

They are in the mid to high-price range

Hiearchy of Effects

Think- awarness,knowledge Feel-liking,preference Do-convicition,purchase

Threat or Opportunity: Shrinking middle class

Threat

Which term below is used to describe the time in the Market Development Life Cycle when a technology has passed the test of usefulness and is now perceived as necessary and standard for many applications. All the pragmatists who were hanging back from committing are rushing into the market to make sure they don't get left behind. Customers of many types from many fields are making their first purchases of the technology, and revenues are growing at double or even triple-digit rates. Competition is fierce, with investors bidding up the stock of every company that can participate in the category.

Tornado

Marketers need a thorough understanding of the laws established by the federal government, state governments, and regulatory agencies.

True

Profits typically reach their peak during the growth stage of the product life cycle.

True

Horizontal channel conflict can arise for a variety of reasons. An example would be a toy manufacturer selling its toys through toy stores, discount stores, department stores, and even drugstores. Which factor cited below contributes to horizontal channel conflict?

Undifferentiated products and variable prices in the various channels

Percentage Margin

Unit margin/ price we all set(revenue per unit)

Perceptual Map:

Visual method of understanding your brand's positioning, relative to competitors, along factors that are important to a particular customer segment

In determining the effectiveness of sales promotions, which of the following metrics is NOT used by marketers?

Website bounce rate

In a study whose purpose is to determine the market for a vitamin that is to be chewed like bubble gum, what is the first question to be answered before a sampling plan is selected?

What is the population or universe of interest?

value orientation

a focus on the economic value created by an organization's product for a given customer

Hofestede's Cultural Dimensions

a framework used to sell internationally

Arizona Tea, marketed by Vultaggio & Sons. Vultaggio & Sons, took a basic drink and put it into unusual bottles with elaborate designs. The wide-mouthed, long-necked bottles are now considered to be trendsetters in the new age beverage industry, and customers often buy the tea just for the bottle. The success of Arizona Tea is based on:

a product differentiation competitive advantage.

Saucony is considering adding a new item to its Hurricane line of running shoes to increase its product line depth. All options would be acceptable EXCEPT:

adding a new private-label product

Owned media encompasses various types of media such as

all of the responses are correct

Value-Oriented Pricing

basing price of a product on its value to its chosen customers

Google uses a quality score as one of the factors to determine the rank or position of an ad on a search page. The quality score is primarily determined by the following factors EXCEPT:

bid rate of the advertiser

A channel steward uses power to influence, motivate, and manage channel partners. An example of a channel steward's use of hard power is a:

brand's unique product design.

Reframes an established value proposition to the customer or a company's established role in the value chain or both. Examples include chestnuts like Gillette's move from razors to razor blades, IBM's shift to on-demand computing, and Apple's expansion into consumer retailing.

business model innovation

When Castrol Syntec, a premium motor oil, sought a new way to reach its young, car-passionate audience, the brand found its mark with video games. In its first-ever attempt at in-game advertising, Castrol Syntec found a way to show consumers (in a virtual world) the brand's power and performance. In the communication process, the game served as a(n) _____ for transmitting the message.

channel

The intentional efforts of a company to design, manage, and evolve its channel strategy in light of changes that arise in the competitive and customer environments is referred to as:

channel stewardship

Product Adaptation: adapt communications, do not change product

communication adaption

Market-Driving

company creates new offerings based on its own version of the future

An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors is called:

competitive research.

adaption or polycentric pricing

complete decentralized pricing

All of the following factors directly influence consumers' level of involvement in the purchase process EXCEPT:

consumer's age

Types of Consumer Products

convenience, shopping, specialty, unsought

Geocentric Pricing

coordinated approach to leveraging global pricing experinces that take local issue into account

Walmart can achieve a _____ using its relationships with suppliers to create an advantage that, ultimately, allows it to give customers low prices and good customer service.

cost competitive advantage

A firm that wants to develop a deeper understanding of its customers may optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups. This is _____:

customer relationship management.

Company X sells their products exclusively to companies in the Y market. In estimating demand from their business customers, Company X must understand that this demand is actually _____________, which means that the demand for industrial products and services is driven by demand for consumer products and services.

derived demand

To help understand why attendance at the team's games was so poor, the Atlanta Falcons used marketing research to gather factual information. The organization used in-game surveys and end-of-season surveys of ticket holders. The gathering of factual statements is an example of marketing research in its _____ role.

descriptive

One configuration of a marketing channel entails producers selling to consumers without any intermediaries in the channel. This is called a(n):

direct channel.

All of the following are product characteristics influencing the rate of adoption EXCEPT:

distribution.

A company that wants to implement a market orientation would need to:

do all of the activities listed.

Assume Levi Strauss & Company sells its jeans in a wide variety of global markets. Physical environmental factors such as climate (e.g., heat, humidity) have influenced the types of jeans demanded and sold. For example, colder climates are well-suited for traditional length and weight jeans, while hotter climates prefer shorter and lighter weights. Likewise, differences in competitive landscapes (i.e., amount of competition, type of competition, and intensity of competition) have influenced brand positioning: Levis is positioned as relatively expensive and prestigious in Russia yet positioned as more casual and relatively inexpensive in the United States. For Levi's, which adaptation strategy is likely most appropriate across its global markets?

dual adaptation

The first stage of the new-product development process is:

establishing the new-product strategy

Market-Driven

firm uncovers customers needs through market research

All of the factors below affect why a company might customize prices EXCEPT: -consumer tastes -fixed costs -competition -nature of use - intensity of use

fixed costs

For claims about the product, positioning statements should:

focus on the single, most important value claim

Burger King's restaurants are independently owned, yet their managers adhere strictly to the policies laid out by the brand owner. This channel structure is called a(n):

franchised distribution network.

The functional value of a product to a customer is BEST understood by understanding the product's

functional benefits

When shopping for a smartphone, a consumer first compares prices to see which brand offers the lowest price. After also inspecting the product features of the various phones, however, she decides that the lowest-priced brand is not her choice. Instead, she selects the brand with the best features. This outcome is the result of the chosen brand's unique value claim that is known as:

functional value

What type of marketing strategy best exemplifies a straightforward mapping of a product to a customer's willingness to pay?

good-better-best vertical differentiation

New Balance offers a variety of types of shoes to its customers at various price points, typically in 3 basic tiers, based on the quality of the material and components of the shoe. This is an example of: pricing based on transaction characteristics observable buyer characteristics -good/better/best strategy controlling the availability of prices

good/better/best strategy

Soft power helps to build a constructive relationship among distribution channel members. One source of soft power is trust, which is:

having confidence in another party's integrity and reliability through their history of dealing with each other.

The first step in the marketing research process is to:

identify and formulate the problem/opportunity to be studied.

Categories of Adopters

innovators, early adopters, early majority, late majority, laggards

To achieve the realizations described in the question above, companies should turn to expert "___________" from far-flung fields with a novel perspective on users, rather than rely solely on users themselves.

interpreters

In the adopter categories, the final 16 percent to adopt are similar to innovators in that they do not rely on the norms of the group but are independent because they are bound to tradition. They tend to have the lowest socioeconomic status, are suspicious of new products, and are alienated from a rapidly advancing society. They are called:

laggards.

Which of the following is NOT one of the variables included a basic calculation of customer lifetime value?

market capitalization of the company over a period of time

Earl is starting a new bank. Before the opening day, Earl had a meeting with all employees. He discussed their mission, defined objectives for the bank for the coming years, and shared who their target market is. He talked about their product offerings and where their future branches would be located. Earl is sharing the bank's:

marketing plan.

A business is concerned with many day-to-day activities. Some of the most important of these activities are the planning and development of a product, its ability to communicate value, its pricing policy, and the distribution strategy. These activities are all a part of:

marketing.

The two major categories of communications are:

mass and interpersonal

EVC

maximum price a customer is willing to pay, so businesses usually charge less than this

Procter & Gamble markets six different brands of laundry detergent, each targeting a different market segment. This is an example of a _________ targeting strategy.

multi-segment

The external environment:

must be continually monitored by marketing managers.

The steps of the consumer decision-making process, in order, are:

need recognition, information search, evaluation of alternatives, purchase, postpurchase behavior

Small firms or firms with a unique product may choose to focus on a single segment and pursue a(n) _________ targeting strategy.

niche

Cost-Oriented Pricing

org applies a markup to its costs

Customer's Incentive to Purchase

perceived value - price

Through marketing research, the Boston Symphony Orchestra (BSO) learned it has an older market and is not attracting younger concertgoers. It next conducted marketing research to determine if a social media advertising and engagement campaign they were considering that would be targeted to the younger market would be successful. In its second use of research, BSO employed _____ marketing research.

predictive

Unit Margin

price we all set- cost to make/purchase

Dynamic Pricing

pricing approach where posted price is based on expected demand and typically perishable products(airline seats)- price changes super easily from day to day or even hour to hour

Product Adaption: do not change communications, adapt product

product adaptation

There are a number of detergents marketed under the Tide brand, including detergents with and without fabric softener, with and without bleach, with various pleasing smells, and fragrance-free formulations. These detergents are an example of Tide's:

product line.

A customer is comparing two similar products online. One is made in the United States, one in a foreign country to her. She opts for the choice made in the United States, judging it to be better quality despite favorable online reviews for each. This instinctual bias is known as:

provenance paradox

One role of marketing communications in the problem recognition stage of the purchase decision-making process is to

remind consumers of existing needs

Customer _____ ["churn rate", "defection rate", "retention rate", "attrition rate"] is the percentage of customers who stay with a company in a given period, while customer _____ ["retention rate", "yield rate", "churn rate", "equity"] is the percentage of customers who leave a company within a given period of time.

retention rate, churn rate

geodemographic segmentation

segmenting potential customers into neighborhood lifestyle categories

Americans' core value of upward mobility (i.e., success will come to anyone who works hard) has greatly influenced the way luxury goods are marketed. This phenomenon is an example of a(n) _____ factor.

social

The group of customers who receive high value from customer experience and who provide high value to the company are referred to as

star customers

Product Adaptation: do not changed communications and do not change product

straight extension

SWOT analysis

strengths, weaknesses, opportunities, threats

The most popular method for gathering primary data is _____, in which a researcher interacts with people to obtain facts, opinions, and attitudes.

survey research

customer lifetime value

takes into account both the value organizations get from customers and the value they give to customers

The author suggests that if companies want to create breakthrough products, "they should seek to understand how those technologies could be used to address needs that customers may not realize they have." These realizations are termed:

technology epiphanies

Customer Equity

the total value of current and future customers

A carefully selected group of consumers who agree to participate in an ongoing online dialogue with a particular corporation is known as a(n):

web-based ethnographic group.

Environmental Forces Effectig Marketing

•Demographic •Social/Cultural •Technological •Natural Environment •Economic •Political/Legal •Competitive

Message

•Message •Conflict •Character(s) •Plot •Memes

Money - Budgeting

•To p-Down Budgeting Approach•advertising-to-sales ratio•Competitive Benchmarking•share of voice •Bottom-Up Budgeting Approach•objective-and-task method: set strategic goals for marketing communications, then determine how much it will cost to achieve them

IKEA has a breakeven volume of 100,000 units for their new AGUNNARYD lamp. The variable cost per unit is $75 and the revenue per unit is $99.99. The fixed costs are:

$2,499,000

The basketball season is about to start, and the owners of the Red Lions team want to advertise that fact in their home metropolitan area. They plan to run a full-page newspaper ad in Metro News. The readership (reach) of Metro News is 850,000 and the cost of the ad is $82,000. What is the cost per thousand (CPM) of this campaign?

$96.47 CPM = Cost / (Reach/1,000) CPM = $82,000 / (850,000/1,000)

Unitary Elastic

- An increase in sales exactly offsets a decrease in prices, and revenue is unchanged - E=1 - Price increase or decrease, demand stays the same

Compensatory vs. Non-Compensatory

- Compensatory: customer considers (or attempts to consider) all of the attributes that are relevant, making trade-offs between & among attributes - NonCompensatory: customer considers some, but not all, of a product's attributes, and ignores potential trade-offs between attributes

Resonance - Laddering Up

- Feature Positioning - Benefit Positioning -Value Positioning

Criteria for Segmentation

- Identifiable and measurable - substantial - accessible - stable - differentiable - actionable

Points of Successful Businesses

- Make brand decisions subservient to decisions about customer relationships - Build brands around customer segments -Make brands as narrow as possible - Plan brand extensions based on customer needs, not component similarities -Develop the capability and the mind-set to hand off customers to other brands in the company - Take no heroic measures -Change how you measure brand equity

Categories of New Products

- New-to-the-World - New Product Lines - Product Line Additions - Improvements or Revisions

Inelastic Demand

- an increase or decrease in price will not significantly affect demand - 0<E<1 :relatively inelastic - E=0: perfectly inelastic -Price increases, demand increased -Price decreases, demand decreases

Elastic Demand

- consumers buy more or less of a product when the price changes - E = ♾ : perfectly elastic - 1<E< ♾ : relatively elastic (+ and - #s) - Price increases, demand decreases - Price decreased, demand increased

Red Ocean Strategy

- focus on current customers - compete in existing markets - beat the competition - exploit existing demand - make the value-cost trade off - align whole system of a cirm activities with a low cost

Blue Ocean strategy

- focus on non-customers - create unconestsed markets to serve - make the competition irrelevant - create and capture new demand - break the value- cost trade off - alight the whole system of a firm's activities in pursuit of differentiation

CVL limitations

- info needed to calculated CVL isn't always easy to access - specifically, individual level data related to CVL -CVL does not account for the strategic and qualitative factors associated with customers

The demand curve suggests that an auto manufacturer will sell 20,000 Mercedes-Benz M-Class vehicles when they are priced at $50,800, but when the price is reduced to $45,000, that quantity will increase to 27,000 units. What is the resulting elasticity?

-3.07

Powers of the FTC

-Cease-and-Desist Order -Consent Decree -Affirmative Disclosure -Corrective Advertising -Restitution -Counteradvertising

The process by which the adoption of an innovation spreads.

-Complexity -Trialability -Observability -Relative Advantage -Compatibility

Benefits of Product Line Depth

-Efficient Sales andDistribution -Standardized Components -Package Uniformity -Advertising Economies

Product Structure

-Generic Product:combination of elements required to participate in the market -Expected Product:generic product + minimum the customer expects from a product in the category -Augmented Product:goes beyond expected product to include unexpected value-enhancing elements -Potential Product:extension to the augmented product that includes "everything that might be done to attract and hold customers" (goes beyond what most people might conceive of as possible)

Benefits of Product Mix Breadth

-Leverage Key Asset -Offset Risk -Ta p I nto C o mpl e me nta r y Of fe r i ngs

evalutation of alternatives

-Total Set - Awareness Set - Consideration Set -Choice Set - Decision

6M Model of Marketing Communication

-missions -markets -message -media -money -measurement

A cruise line could control the availability of prices by offering deals to specific groups of buyers based on all of the following EXCEPT: -coupon usage -competition -information gathered via e-commerce -purchasing history -location

-purchasing history

Forces Affecting Global Marketing

1. Company Influences: growth strategy, risk tolerance, company brand capabilities 2.Market Influences: global market growth 3.Industry Influence: competitive advantage, supply chain, market channel structure 4.Regional Influences: economic, political systems, trade policies, legal regulatory hurdles

The Four Dimensions of customer value

1. Economic Value(total ownership or life cycle) 2. Functional Value 3. Experimental Value 4. Social Value

4 Orientations of Marketing (Historical)

1. Production: what can we make or do best ? 2. Sales: How can we sell more aggressively? 3. Marketing: What do customers want/need? 4. Societal: What do customers want/need and how can we benefit society?

Effective Positioning Statements

1. Target Customers 2. Wants of the customer 3. Product type and category 4. Key benefits to be provided to target customer

3 Cs of Brand Positioning

1.Consumer Analysis 2.Competitive Analysis 3.Company Anylysis

4 Cs of Customer-Centric Culture

1.Coordination 2.Cooperation 3.Capability 4.Connection

Positioning Statement4 Essential Components

1.For whom, for when, for where? 2.What value?•(consider economic, functional, experiential, &/or social) 3.Why and how? 4.Relative to whom?

6 M Model of promotion

1.Market 2.Mission 3.Message 4.Media 5.Money 6.Measurement

2 Primary Goals for Government in Economy

1.Protect Competition 2.Protect People (consumers, employees, community)

Porter's Five Forces

1.Threat of New Entrants 2.Customer Bargaining Power 3.Threat of Substitutes 4.Supplier Bargaining Power 5.Internal Competition

Customer Centricity Steps

1.Understand the Customer 2.Build a Customer-Centric Culture 3.Serve the Customer

Characteristics of Winning Products

1.are superior to competitors' products in terms of meeting users' needs 2.solve a problem the customer has with a competitive product 3.feature good value for the money; excellent price & performance characteristics 4.provide excellent product quality, according to customers' way of defining quality 5.offer features easily perceived as useful by the customer 6.offer benefits that are highly visible to the customer

Which of the answer choices correctly ranks, from lowest risk to highest risk, the following methods of foreign market entry? 1. Foreign direct Investment 2. Franchising 3. Indirect export 4. Product joint venture

3, 2, 4, 1

Which of the following services would be most likely to exhibit strong credence qualities?

A credence quality is a characteristic that cannot easily be assessed even after purchase and experience. - A math tutorial service

If a brand is truly global, which of the following brand variables is typically the same across geographies? (A) Positioning (B) Product name and features (C) Promotion

A, B, and C

Existing customers who have visited the store in the last six months

Accessible,Identifiable

Which of the following type of online advertising intermediaries decide the placement and pricing of online display ads by using the supply and demand of the ad landscape in a real-time auction process?

Ad Exchangers

The _____ is a strategic opportunity matrix matches products (or offerings, including services, more generally) with markets (i.e., customer segments). .

Ansoff Matrix

Which of the following statements about economic value to the customers (EVC) is FALSE?

Any two customers will derive the same EVC for the same product.

Takes existing technologies into new markets to serve new purposes, as when Tandem applied its fault-tolerant computers to the banking market to create ATMs and when OnStar took Global Positioning Systems into the automobile market for roadside assistance.

Application Innovation

_______ product goes beyond the expected product to include unexpected value-enhancing elements.

Augmented

Which of the following accurately matches the stages of the hierarchy of effects model to the intended outcomes of marketing communications?

Awareness and Knowledge = think

Threat or Opportunity: Customers moving to higher and lower-priced products

Both

Threat or Opportunity: Introducing new, lower-priced products to the market

Both

M.A.C. cosmetics used previously collected data from earlier studies and conducted surveys, in-person interviews, and focus groups to help inform their positioning strategy. Which of the following did they use?

Both primary and secondary data

Ben & Jerry's Ice Cream buys keywords for a search marketing campaign such as "Ben & Jerry's Chunky Monkey" and "Ben & Jerry's Cherry Garcia." What type of keywords is the firm buying?

Branded Keywords

Marketers often use which of the following techniques to determine the impact of a price on volume required to reach profitability?

Breakeven Analysis

Which of the following is an analysis that the channel steward does NOT need to perform when mapping a channel value chain?

Breakeven Analysis

Which of the following is not one of the Five C's from the Framework for Market Strategy Formation?

Capital

Which of the following is NOT identified as one of the factors that should influence the selection of segments for target markets?

Company Fit

Based on the HBP reading, which of the following is NOTrequired to achieve a customer-centric culture?

Cost

Which method for building experiential value is most likely to have the most variability for consumer-based service organizations such as hotels and restaurants?

Customer Service

_____ is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits.

Customer value

Customer value has two sides: capturing value through customer profitability and delivering value through customer experience .

Customer value has two sides: capturing value through customer profitability and delivering value through customer experience .

Extension or Ethnocentric Pricing

"one price fits all"

During which stage of the process does the marketer lead the preliminary analysis and calculations for demand, cost, sales, and profitability?

Developing a business analysis

Markets appear as if from nowhere, creating massive new sources of wealth. It tends to have its roots in technological discontinuities, such as the one that enabled Motorola's rise to prominence with the first generation of cell phones, or in fast-spreading fads like the collector card game Pokémon.

Disruptive Innovation

Which of the following statements is INCORRECT regarding concepts associated with the value chain?

Distribution channel concepts are relevant to B2C transactions, not B2B transactions.

Product Adaptions: Adapt Communications, adapt product

Dual Adaption

Financing plans to spread out payments over 12, 24, or 36 months

Economic Value

Value calculator on the Peloton website to help you determine how much you could save on Peloton equipment/subscription over a gym membership

Economic Value

Makes surface modifications that improve customers' experience of established products or processes. These can take the form of delighters ("You've got mail!"), satisfiers (superior line management at Disneyland), or reassurers (package tracking from FedEx).

Experiential Innovation

Peloton branded apparel

Experiential Value

Sleek modern design that mimics the look of cool racing cycles

Experiential Value

Marketers can control the external environment in which their organizations operate.

False

Services tend to exhibit more search qualities than do tangible goods.

False

Over 1000 classes across many exercise categories not tied to just the equipment you purchase

Functional Value

Resistance knob that will automatically adjust based on the instructor's recommended resistance during a class

Functional Value

Which of the following is not a channel option between a supplier (also known as the producer, assembler, or manufacturer/maker) and its customers when the supplier wants to leverage an intermediary to create an indirect channel?

Going directly to the end customer through its own sales and distribution system

In deciding between an integrated versus an arm's length approach to channel structure, trade-off considerations are important. Which trade-off below is NOT part of these considerations?

High competition versus low competition

Teens who shop at the Gap

Identifiable,Actionable

John Deere & Co. is deciding whether to use a feature-based claim or a benefit-based claim for its new JD 750 tractor's positioning. Which of the following is a benefit-based claim?

Improved maneuverability and flexibility

Which of the following is NOT one of the four unique elements to services?

Incoherency

________ is a form of distribution aimed at having a product available in every outlet where target customers might want to buy it.

Intensive

Which marketing management philosophy focuses on the question, "What do customers want and need?"

Market

Company profile: "Our products are sold in more than 35 markets around the world and our global independent sales force exceeds 2 million. You've got dreams. Whether it's earning a little extra cash or making a full-time commitment, and a sales consultant opportunity offers the freedom, flexibility and, of course, the fun that you've been looking for."What is the firm's orientation?

Market-oriented

Improves customer-touching processes, be they marketing communications (use of the Web and trailers for viral marketing of The Lord of the Rings movie trilogy) or consumer transactions (Amazon's e-commerce mechanisms and eBay's online auctions).

Marketing Innovation

A manufacturer of fashion accessories hopes to improve its brand image by upgrading the leather it uses in handbags, gloves, and wallets. When the firm decides to buy a higher quality leather from a vendor, it will most likely be engaged in which of the following types of purchases?

Modified rebuy