Mkt Exam 2

Freight transportation companies that offer several different shipment methods are called Select one: a. megacarriers. b. intermodal transporters. c. freight forwarders. d. shipping experts. e. superfreighters.

A

Product specifications are best described as Select one: a. physical characteristics and level of quality. b. descriptions of a product. c. numbers of quality inspections required. d. comparisons to similar products. e. defective product return policies.

A

During the maturity stage Select one: a. product modifications are unnecessary. b. there is less emphasis on changing a product's price. c. marketing strategies are rarely altered. d. some competitors are forced out. e. limited advertising expenditures are required to maintain market share.

not b

When a firm's packages are designed to appear to be quite similar, the firm is using family packaging. Select one: True False

T

Many products are in the maturity stage of the product life cycle. Select one: True False

T

Third-party logistics firms have special expertise in core physical distribution activities and can often perform these activities more efficiently. Select one: True False

T

In product modification, the first issue to consider is whether Select one: a. existing customers can perceive that a product modification has been made. b. the product is modifiable. c. quality is modified. d. modification will make the product more consistent with customers' desires. e. modification will provide greater satisfaction to the consumer.

B

Institutional markets are Select one: a. intermediaries who resell goods to make a profit. b. federal and state government units. c. state or local government units. d. consumers who buy products for their own use. e. organizations that seek nonbusiness goals.

E

Which of the following statements about business buying is false? Select one: a. Business marketers prefer not to sell to customers who place small orders. b. Business marketers must often sell their products in large quantities to make profits. c. Most business purchases are made by committee. d. Business purchases are usually made on the basis of contracts. e. Orders in business markets tend to be smaller than those placed in consumer markets

E

Which of the following is most likely to be a product stocked solely by an industrial distributor? Select one: a. Tires b. Wind turbines c. Roofing nails d. Kitchen countertops e. Office supplies

b

"Is the demand strong enough?" is a question that marketers ask during the ____ phase of new-product development. Select one: a. screening b. concept testing c. business analysis d. product development e. test marketing

b?

A ____ brand usually requires a producer to become involved in distribution, promotion, and pricing decisions. Select one: a. dealer b. manufacturer c. private distributor d. store e. wholesaler

b?

An individual knows that a product exists, but has little information regarding the product and does not seek additional information. In what stage of the product adoption process is that person? Select one: a. Trial b. Adoption c. Interest d. Awareness e. Evaluation

d?

In a brand licensing arrangement, the licensee is responsible for Select one: a. providing the brand name to another organization for use in promoting products. b. collecting the royalties from sales of the licensed products. c. half of the financial losses in the event that the licensed brand is a failure. d. the production, but not the marketing of the licensed product. e. the manufacturing, marketing, and financing of the licensed product.

?not a

After certain inputs have been selected to reach an individual's awareness, the next step in the perceptual process is perceptual Select one: a. organization. b. attention. c. retention. d. interpretation. e. redefinition.

?not d

A manufacturer has decided to improve its inventory management by maintaining low inventory levels and waiting to purchase materials until right before they are needed in production. This inventory management technique is called Select one: a. just-in-time (JIT). b. time management. c. inventory minimization. d. economic order quantity. e. reorder point maximization.

A

During the search for products and evaluating possible suppliers stage of the business buying decision process, marketers sometimes use ____ analysis to examine the quality, design, materials, and possibly item reduction in order to acquire the product in the most cost-effective way. Select one: a. cost b. value c. profit d. strategic e. SWOT

A?

The ability of a product to provide the same level of quality over time is called Select one: a. consistency. b. longevity. c. variability. d. status. e. image.

A?

A co-branded product from Sony and Martha Stewart would likely fail because Select one: a. neither of these brands is very well known to consumers. b. their products are not complementary. c. they are both food products. d. this co-branding will not provide product differentiation. e. the market segment for this product is to

B

Because of a service's ____, standardization and quality are difficult to control. Select one: a. intangibility b. inseparability c. homogeneity d. heterogeneity e. perishability

B?

Packaging that is designed to flow through the distribution channel easily is called ____ packaging. Select one: a. category-consistent b. multiple c. innovative d. handling-improved e. logistic

B?

When a business finds itself squeezed out of a market for a product or loses interest in that product, it is a sign of being in the ____ stage of the product life cycle. Select one: a. maturity b. growth c. introduction d. market reduction e. decline

B?

Which of the following countries was the world's first service economy? Select one: a. England b. United States c. Sweden d. Canada e. Germany

B?

A culture can be divided into subcultures according to Select one: a. personality characteristics of individuals in that culture. b. motives that members of that cultural group have for their behavior. c. geographic regions or human characteristics, such as age or ethnic background. d. income levels. e. information to which consumers allow themselves to be exp

C?

As Brianna walks to classes, she selects, organizes, and interprets the sensations she is receiving through her sense organs. Brianna is experiencing the process of Select one: a. exposure. b. motivation. c. learning. d. attitude formation. e. perception.

E

A consumer belongs to only one subculture. Select one: True False

F

Drawing together the processes and functions of two or more stages of the channel under one management is horizontal integration. Select one: True False

F

Functional modifications are usually executed by altering the materials or the production process. Select one: True False

F

Pipelines are not one of the major transportation modes for moving goods between cities in the United States. Select one: True False

F

The decision to drop a product should always be a unanimous decision of the management team. Select one: True False

F

The two major product categories are business and institutional. Select one: True False

F

If an information input is useful in satisfying a person's current needs, it is more likely to reach perceptual awareness. Select one: True False

T

Buyers in producer markets purchase either raw materials or semifinished products. Select one: True False

T

Channel power is an ability related to influencing the goals of other channel members. Select one: True False

T

Convenience products usually are distributed intensively because sales of these products tend to have a direct relationship to availability. Select one: True False

T

High involvement products tend to be those that are expensive and visible to others. Select one: True False

T

In the buying decision process, one of the activities included in the search for products and suppliers is examining various online and print publications. Select one: True False

T

Del Monte markets ketchup for household use to supermarkets through grocery wholesalers. It markets ketchup for institutional use through industrial distributors and food brokers. Del Monte is using Select one: a. multichannel distribution. b. industrial distribution. c. strategic channel alliance. d. supply-chain management. e. an unethical marketing channel.

A

The three major categories of influences on the consumer buying decision process are Select one: a. situational influences, demographic influences, and psychological influences. b. social influences, situational influences, and marketer-dominated influences. c. demographic influences, situational influences, and marketer-dominated influences. d. situational influences, social influences, and psychological influences. e. marketer-dominated influences, psychological influences, and person-specific influences.

D

When a business is making its initial purchase of an item to be used to perform a new job, it is known as a ____ purchase. Select one: a. straight rebuy b. reciprocal c. delayed d. new task e. modified rebuy

D

When a product experiences an increase in the number of competitors, it is usually in the _____ stage of the product life cycle; however, when that competition becomes intense, it is in the ____ stage. Select one: a. introduction; maturity b. introduction; growth c. growth; decline d. growth; maturity e. maturity; decline

D

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and Select one: a. a modification should make the product more consistent with customers' desires. b. competing companies should not be aware of planned product modifications. c. a modification should change customers' desires to provide greater satisfaction. d. management must perceive the modification as a reasonable and necessary action. e. production costs and materials needed should be limited.

A

Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools, Inc. The company would be part of what type of business market? Select one: a. Reseller b. Producer c. Consumer d. Government e. Supply

A

When we speak of the number of product lines that a company offers, we are referring to the ____________ of the company's product mix. Select one: a. width b. depth c. length d. size e. volume

A

The five major stages of the consumer buying decision process, in order, are Select one: a. information search, establishment of product criteria, evaluation of alternatives, purchase, and postpurchase evaluation. b. problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation. c. problem recognition, information search, evaluation of alternatives, postpurchase evaluation, and purchase. d. information search, evaluation of alternatives, purchase, trial adoption period, and postpurchase evaluation. e. problem recognition, purchase, evaluation of alternatives, postpurchase evaluation, and rebuy.

B

The most important function of packaging is Select one: a. offering convenience to customers. b. protecting the product and maintaining its functionality. c. covering the product. d. communicating information to the customer. e. attracting the attention of the customer.

B

A run-out policy of product deletion Select one: a. lets the product decline without changing the product strategy. b. is an immediate-drop decision. c. exploits any strengths left in the product. d. raises the price of the product continually to secure as much profit as possible before the product is priced out of the market. e. occurs when production cannot keep pace with demand because of material shortages

C

A(n) ____ is a concept, philosophy, or image. Select one: a. product b. good c. idea d. service e. issue

C

Most business purchases can be classified as belonging to one of three types: Select one: a. delinquent, repetitive, or delivered. b. repetitive, new task, or modified rebuy. c. modified rebuy, new task, or straight rebuy. d. delinquent, new task, or reciprocal. e. rebuy, reciprocal, or delayed.

C

A single leader who controls and organizes a marketing channel is called a Select one: a. channel champion. b. distribution leader. c. marketing maverick. d. channel captain. e. lead distributor.

D

The width of a product mix is measured by the number of product Select one: a. dimensions in the product line. b. features in each brand. c. items in the product line. d. lines a company offers. e. specialties a company offers.

D

Within the information search step of the consumer buying decision process, what two primary aspects exist? Select one: a. Consideration sets and evoked sets b. Personal information and nonpersonal information c. Selective retention and selective distortion d. Internal search and external search e. Company-produced information and internal information

D

During the evaluation of alternatives stage of the consumer buying decision process, framing most likely influences the decision process of ____ buyers. Select one: a. younger b. older c. wealthier d. veteran e. inexperienced

E

Expensive, high-quality products that are purchased infrequently often reach consumers through Select one: a. selective distribution. b. highly-selective distribution. c. sole-source retailers. d. complex marketing channels. e. exclusive distribution.

E

Firms that desire to convey an exclusive image for their products may wish to limit the number of outlets available. Select one: True False

T

Industrial classification systems are best used in conjunction with other types of data to determine exactly how many and which customers a marketer can reach. Select one: True False

T

Product availability plays a major role in the purchase stage. If the highest-ranked product is unavailable, the consumer will most likely purchase the brand ranked second. Select one: True False

T

The overall characteristics of a product that allow it to perform as expected in satisfying customer needs are called product quality. Select one: True False

T

There are situational influences that cannot be controlled. Select one: True False

T

The three major types of reference groups are Select one: a. membership, aspirational, and advocacy. b. advocacy, avoidance, and approach. c. aspirational, dissociative, and membership. d. actual, implied, and desired. e. family, peer group, and media.

C

Private distributor, generic, and manufacturer are the three types of Select one: a. equity. b. brands. c. producers. d. packaging. e. trade names.

B

People's needs to grow, develop, and achieve their full potential are referred to by Maslow as ____ needs. Select one: a. ego b. esteem c. self-actualization d. social e. safety

C

Personal trainers cannot complete their work without their clients present because of the ____ feature of services. Select one: a. perishability b. intangibility c. inseparability d. heterogeneity e. tangibility

C

The part of a brand that can be spoken including letters, numbers, and words is the Select one: a. brand. b. brand mark. c. brand name. d. trade name. e. trademark.

C

When are marketers least likely to change a product's design, style, or other attributes? Select one: a. Introduction b. Maturity c. Decline d. Growth e. Removal

C

In most service industries, customer-contact employees are Select one: a. valued as the most important employees in the organization. b. the best-trained employees in the organization. c. the lowest-paid and least-trained employees. d. well trained but have high turnover rates. e. moderately paid personnel with high rates of turnover.

C?

The members of a venture team come from Select one: a. the marketing department. b. a consulting firm. c. the research and development department. d. the production and finance departments. e. different functional areas of an organization.

E

What two modes of transportation are used when containers are shipped by piggyback? Select one: a. Railroads and airways b. Trucks and airways c. Pipelines and trucks d. Waterways and railroads e. Railroads and trucks

E

When a product tries to capitalize on the brand equity of two separate brands, marketers are using Select one: a. licensing. b. dual-branding. c. partnerships. d. brand extension. e. co-branding.

E

Which of the following is not a business product? Select one: a. Oil to be refined into fuel b. Chips to be integrated into components for personal computers c. Paper, pens, and tape to be used in an office d. Marketing consulting services to aid a company in marketing a new product e. Calculators bought to help individuals complete their personal federal income tax forms

E