MKT460-Exam Two
network marketing
companies that sell products door-to-door or at home sales parties are engaging in.......
response to service failure
Dean recently had a BRZ broadband connection installed. however, the connection was poor and he didn't get the quality he required. he contacted BZR about the problem, but the company did not solve his problem. Dean switched to Blue Broadband. which of the following was the cause of Deans switching behavior
rack jobbers
the owner of supermarket chain Reynolds wants to offer nonfood items such as greeting cards and magazines. however, reynolds does not want to take care of setting up displays and maintaining inventory records.which of the following types of wholesalers can help Reynolds meet customer demand while minimizing costs?
idea generation
the stage in the new product process that occurs first is the...stage
tangible goods with accompanying services
to which of the following categories of services does a cell phone belong
psychotherapy
to which of the following is and example of a pure service
the product being sold is an impulse item
using the push strategy is most appropriate when....
gap between perceived service and altered service
when Aaron went to his doctor for his annual checkup, he was asked to undergo a number of tests. although the doctor assured Aaron that the tests were routine, Aaron thinks that the doctor is hiding a grave problem from. what kind of gap is apparent here?
market-skimming pricing
when Apple introduces its iPhone, it was priced at $599. this allowed Apple to earn the maximum amount of revenue from the various segments of the market. two months after the introduction, the price had come down to $399. what kind of pricing did Apple adopt?
multichannel
when Goodyear began selling its popular tire brands through Sears, Walmart, and Discount Tire, independent dealers that sold the same tires at higher prices were angry. this is an example of a(n).......conflict
basic product
when a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. this is an example of what level in the consumer value hierarchy?
seasonal discounts
when hotels, motels and airlines offer discounts in slow selling periods, they are said to be offering.....
third-degree price discrimination
when museums charge a lower admission fee to students and senior citizens, this form of pricing is known as.....
loss-leader
when supermarkets and department stores drop the prices on well-known brands to stimulate store traffic, they are said to be following.....pricing
product recycling
which of the following activities is a reverse-flow channel of marketing?
durable goods
which of the following are tangible goods that normally survive many uses
modification of channel design
which of the following is NOT a standard that producers would use to evaluate intermediaries' performance?
brokers bring buyers and sellers together and assist in negotiating
which of the following is TRUE of brokers?
competitors that match low prices might have longer staying power because of deep cash reserves
which of the following is a possible trap of a price-cutting strategy?
a service center manager has asked his subordinates to provide fast service, but has not specified a time for the service to be performed
which of the following is an example of a gap between management perception and the service quality specifications?
Amanda chose to shop at Allison's Fashions because the store's website offered on-the-spot alterations. however, when she did buy a dress, she had to wait a week to get it altered
which of the following is an example of a gap between service delivery and external communication
CLO's offers a number of merchandise-return privileges, customer needs information and assistance with shopping
which of the following is an example of a limited-service retailer?
a manufacturer takes online orders from customers and ships the products to them
which of the following is an example of a zero-level channel?
IFB Industries, a company that sells products using various channels such as Internet, retailers, direct outlets, and franchisees
which of the following is an example of brick-and-click company?
Praxis International sells products to consumers directly through the Internet
which of the following is an example of retailing?
printing tickets form a home computer
which of the following is an example of self-service technologies?
broker
which of the following is considered a wholesaler
anticipated cost infation
which of the following is most likely to be a valid reason for initiating a price increase?
a system of partnerships and alliances that a firm creates to source, augment, and deliver its offerings
which of the following is the most accurate description of a value network?
the shopping experience
which of the following is the strongest differentiator for brick-and-mortar stores who want to emphasize their superiority over online retailers?
the actual future price
which of the following would NOT be a consumers reference price?
because handling costs can make products less profitable
why would a retailer measure direct product profitability (DPP)?
captive-product
Gillette uses...pricing when it offers razor handles at a low cost, but places a high markup on the replacement razor blades that fit in the handles
width
Happy Homes Products produce detergents, toothpaste, bar soap, disposable diapers, and paper products this company has a product.....of five lines
fixed
JJ's hair salon pays overhead each month, including bills for rent, heat, interest and salaries. these payments are examples of.....costs
perishability
Jake had an appointment at the doctors office, but couldn't make it on time due to traffic. by the time he arrived, the doctor had already begun with the next patient. this illustrates the...of services
value-augmenting service
Johnson Controls reached beyond selling climate control equipment and components by selling the service of managing facilities in a way that optimizes energy use in heating and cooling. this is an example of providing....
radical innovations
Jordan's firm enters new markets by tweaking products for new customers, uses variations on a core product to stay one step ahead of the market, and creates interim solutions for industry-wide products. in other words, it pursues...
early majority
Joseph, a student at Colombia University, found that many of his classmates have purchased an iPad tablet from Apple. several months after the products launch, realizing that the iPad was widely considered to be useful and that many students in the US that rated it highly, Joseph also decided to purchase an iPad. which of the following is the adopter group to which Joseph belongs?
ordering ease
Smith & Adams Poultry set up a computer system so that its customers (restaurants and hotels) can directly inform its central supply system about purchase volumes and dates, as well as automatically receive confirmation of orders and shipments. this is an example of a company differentiating its services in terms of...
pull strategy
Spike Inc. is a sales manufacturer that recently launched its new line of customizable running shoes. the shoes come with a digital component that allows them to adapt to the runners biomechanics. to promote this new product, Spike launches an advertising campaign and entices a famous athlete to endorse the product. this is an example of a.....
functional quality
Susanna wanted to check out a new salon in her locality, so she decided to go for a hair styling session. she was very happy with the way her stylist connected and related to her concerns. she is judging the services based on its....
it is trying to cultivate nonpeak demand
The Caesar Park Hotel generally caters to business customers during the week, so weekends are relatively quiet. the hotel has decided to promote mini-vacation weekends for non-business customers as well. What is the Caesar Park Hotel trying to do?
private-label
a brand developed a retailer and/or wholesaler that is available only in selected retail outlets is called a......brand
behavioral
a brand that is action-oriented and causes consumers to engage in physical actions appeals to the....dimension of brand experience
omnichannel marketing
a computer manufacturing company allows customers to shop in their preferred way. for example, they can gather information online or in the store; they can place orders online or by phone or purchase in store. they can have orders delivered to their home or arrange to pick them up from a convenient retail location. which of the following terms best represents this practice?
survival
a firm that is plagued with overcapacity, intense competition, or changing consumer desire would do better if it pursues....as its major objective
inconvenience
although Brenda previously used the USPS because it offered better prices on package shipping, she new uses only FedEx, because it gives her the facility of shipping from any FedEx location 24 hours a day. which of the following factors led to Brenda's customer switching behavior?
delicatessen
and example of a restaurant with a narrow and deep assortment is a........
obtaining financing
identify the channel function that constitutes both backward and forward flow
conformance quality
if the Ford GT is designed to accelerate the 50 mph within 10 seconds, and every Ford GT coming off the assembly line does this, the model is said to have a high...
generics
in addition to its store bradns and nationally well-know brands of detergent, Reynolds also carries much cheaper versions of detergents that are not advertised and have littleknown names. they are often manufactured from lower-quantity ingredients and save on packaging. these are known as.......
augment the product
in markets that are characterized by products that are highly homogeneous, how should a firm react to a competitors reduction in price?
Sara's preferred hair stylist is come miles away, but Sara goes to him because his styles suit her looks
in which of the following does a customer respond to the technical quality of service?
it lowers the producer's costs and prices
producers often shift some functions to intermediaries. which of the following is the most significant benefit of doing this?
mixed bundling
purchasers of theatre tickets receive 20% discount if the purchase and pay for the full season at one time. this is an example of what type of product-mix pricing
design
realizing that although household products is a huge category-taking up an entire supermarket aisle or more-it is an incredibly boring one, the founders of method products designed a sleek, uncluttered dish soap container that also carried functional advantages, such as ease of dispensing soap and cleaning. Method is competing in the crowded market for household products on the basis of superior...
generics
..........are unbranded, plainly packaged, less expensive versions of common products such as spaghetti, paper towels, and canned peachers
bulk breaking
........refers to buying large carload lots and dividing them into smaller units before shipping them our to consumers
functional discounts
......are offered by a manufacturer to trade-channel members if they will perform certain functions, such as selling, storing, and record keeping
retailing
......includes all the activities in selling goods or services directly to final consumers for personal, nonbusiness use
secondary service feature
Belling Hotels provides a complimentary breakfast buffet to all guests. this is an example of a....
off-price
a factory outlet is an example of a(n)..........retailer
promotional allowances
.....reward dealers for participating in advertising and sales support programs
vertical
Alcart Solutions is a large distributor of Aldor phones in Canada. the company distributes products to various retailers in New Brunswick province. Recently, Aldor received complaints from its retailers that their orders are not delivered on time. this is an example of.......conflict
evaluation
Armordo is a famous vacuum cleaner brand in Africa. Clara has heard of Armordo and she knows that the product is a success. she has started considering whether or not to buy the vacuum cleaner. what stage of the consumer-adoption process is Clara in?
service backup
Atburex is a furniture manufacturing company in the US. the company provides a 60-day credit period and also offers on-site delivery and instillation. these special benefits refers to which of the following service outputs?
rapid prototype
Brown & Smith, Inc. engages in the design, development, making, and of designer jewelry in North America. Before approving a new design, the company draws on its computer and then produces models to show potential consumers and get their reactions. this allows the company to analyze the possible customer reaction. identify the concept testing method used here
target costing
ConAgra Foods decides is prices had risen too high, so it determined to set a lower price for itzs products. to make the new price level profitable, ConAgra cut $250M in costs. what application of cost estimation did this represent?
specialty
E&OE produces and markets its own brand of skincare products using herbal remedies and natural ingredients through stand alone stores as well as an online portal. E&OE is a(n)...........retailer
conditions of sales
Electrobar, a European manufacturer of industrial kitchenware, sells to industrial canteens, restaurants, hotels and so fourth. the company provides a one-year warranty on all products and also allows customers to pay in installments-they pay 50% on delivery and the rest as equal installments.this refers to which element in the trade relations mix?
parallel entry
Poga International, a multinational beverage corporation identifies that one of its competitors is launching an apple flavored drink. the company decided to launch an apple flavor brand alone with its competitor. what timing strategy is used here?
corporate
Rotter Gardner Inc. is a large-scale paint manufacturer known for its wide range of decorative paint products and industrial coatings. in addition to making paints, the company also owns and operates in retail stores that sell its products. this is an example of a(n)......vertical marketing system
spatial convenience
Toyota has an advantage over Lexus due to the fact that there are more Toyota dealers, which helps customers save on transportation and search costs in buying an repairing an automobile. which of the following service outputs relates to this competitive advantage?
private label
Walmart developed the Ol'Roy brand of dog food to sell only in stores. Ol'Roy is an example of a.....
co-optation
Winstar is a large-scale manufacturer with more than a hundred partners across the globe. when making decision concerning distrution and channel optimization, the company invtes members from its channel partners to be a part of its advisory committee. this helps the company maintain harmony with its partners. which of the following conflict resolution techniques is Winstar using?
infomediary
XM Consulting collects information on various industrial products. when faced with buying decisions, businesses can visit XM's website to purchase detailed information in the various options available for them. XM Consulting can be called a(n).....
retailer cooperative
a group of small sellers takes the initiative and organizes a new business entity to carry on wholesaling and possibly some production. this entity is called a(n).....
compensation deal
a japanese firm is ready to sell its recent technological innovation to the US government. but ithas asked for 80% in cash and the rest in mica. the japanese firm is looking to enter in to a(n)......government
full-service
a large staff, along with a higher proportion of specialty goods and slower-moving items and many services, are usually features of ......retailing
down-market stretch
a manufacturer of hiking boots looks at data that indicates that their subsegment of the market called "serious hiker" is declining and its predicted to decline in to the future. the firm decides enter the "low-price" segment with the new items. this is an example of the firms....to reach the new market
push strategy
a manufacturer uses the company's sales force and trade promotions to carry, promote, and sell products to end users. which of the following strategies is the manufacturer using?
production and distribution costs fall with accumulated production experience
a market-penetration pricing strategy is most suitable when....
using a few existing intermediaries
a new firm typically starts as a local operation selling in a fairly circumscribed market by.....
high-markup, low-volume
a store selling expensive artwork and luxury goods typically falls into the ........group with respect to margins and volume
product concept
a(n)....is an elaborated version of a product idea expressed in consumer terms
conducting beta testing with customers
after creating a product prototype, a company tests it within the firm to see how it performs in different applications. the company refines the prototype to correct the mistakes found in the in-house testing. what should be the next step?
place
bank customers try to reduce uncertainty by drawing inferences from the..., such as the design of the building's exterior and interior, the layout of the desks. and the length of waiting lines
slotting fee
because shelf space is scarce, many supermarkets now charge a.......for accepting a new brand, to cover the cost of listening and stocking it
high-volume, low-markup
discount stores typically fall into the.......group with respect to margins and volume
zero-level channels
door-to-door sales, home parties, mail order, telemarketing, TV selling, Internet selling, and manufacturer-owned stores are examples of.....
running the companies own parts-and-services department
for a new manufacturer managing product support for its equipment, what is usually the first strategy for postsale service?
they use the price as an indicator of quality
many consumers are willing to pay $100 for a perfume that contains $10 worth of scents because the perfume is from a well-known brand. what does this image pricing suggest about these consumers?
loss leaders
most retailers will put low prices on some items in order to increase traffic to the store. these low-prices products are known as.....
faster
not all self-service technologies improve service quality, but they can make service transactions more accurate, convenient &......
self-service technology
one way marketers are addressing consumers desires for convenience in services is providing....
direct product profitability (DPP)
stores are using......to measures a products handling costs from the time it reaches the warehouse until a customer buys it in the retail store
yield pricing
the airlines and hospitality industries use....., by which they offer discounted but limited early purchases, higher-priced late purchases, and the lowest rates on unsold inventory just before it expires
postsale serice
the customer service reps at G.K's heating and cooling must know as much about the products as possible, so they can help customers solve their difficulties without sounding hesitant or unsure of themselves. this is an example of high quality strategy for....
customer-value hierarchy
the five product levels add more customer value, and together they constitute a(n)...