MKTG final

Marketers that set unrealistically high consumer expectations of a product through ads or other promotion may generate high initial sales, but it will eventually lead to _____ if the product fails to live up to the lofty expectations.

(post-purchase) dissatisfaction

Method produces dishwashing liquid, cleaners, hand soap, and laundry detergent, among other products that the company touts as climate conscious and animal friendly. Method is now exploring offering a line of environmentally friendly clothing, mostly T-shirts, shorts, and long pants for both men and women. Its research indicates that they should use psychographic segmentation in their marketing strategy. Which group of segmentation variables will Method likely be using?

Activities, interests, and opinions

Which of the following is an example of benefit segmentation?

Colgate-Palmolive offers three types of toothpaste: toothpaste with fluoride to strengthen tooth enamel, toothpaste with whitening properties, and toothpaste for sensitive gums.

US Foods, a food services and facilities management company, distributes food and related products to a wide array of business and intitutional buyers, like restaurants, health-care facilities, hotels, schools, jails and prisons, and others. What type of segmentation strategy is US Foods most likely using?

Differentiated

Of the following classic brand slogans, which is most indicative of an emotional branding strategy?

Motel 6: We ll Leave a Light on For You (Motel chain)

You work as a brand manager for Ford Motor Company, responsible for setting brand-level strategy. On which of the following would it be most useful for you to employ a product life cycle analysis?

Sport utility vehicles (SUVs)

Robin, a marketing professor, recently switched from Skype to Zoom to hold virtual office hours with students. A few of Robin's colleagues made the switch before she did, but most others in her network waited to see what she thought about the switch before they would consider it. Robin is likely a(n) _____ in this product category.

early adopter

In this advocacy ad for Fundacion Viva (The Living Foundation) in Bolivia, what is the appeal type? (Be sure to read the copy at the bottom of the ad.)

emotional

For the past 50 years Stacy's department store has issued a widely-cited annual report that tracks and analyzes national retail sales figures to estimate demand for the upcoming winter holiday shopping season. Toymakers and retailers have consulted the report for decades as part of their _____.

environmental monitoring

Megan Hurt is charged with collecting and analyzing information relevant to current and emerging trends that may impact her firm immediately. Her job might best be described as _____.

environmental scanning

Ethan considered three important features when deciding where he would do his banking: the convenience of the location, availability of an online banking mobile app, and interest rates. These three features are called _____.

evaluative criteria

When Catherine was considering different brands of jeans to buy, she could think of only three. These three brands make up her _____ set that she will evaluate for purchase.

evoked

All the following are stages of the product life cycle, except _____.

exploitation

A reported forty percent (40%) of Americans seek advice from their family and friends when they look for a doctor. This shows the importance of: _____.

external sources of information

A micro-marketing segmentation strategy is when an organization develops one version of the marketing mix then uses it to target each individual in a segment.

false

Inflation refers to the cost of borrowing money.

false

The XL Corporation has pioneered a portable water filtration product that looks like a fat drinking straw. The product will be targeted at developing countries, where diseases from contaminated drinking water kill thousands of infants and children every year. This product filters pollutants and other contaminants from water, making it safe to drink. One major challenge in serving market segments in the developing world can be physically getting a product from where it is produced to the people who need it, especially when roads and postal delivery are not reliable. When determing whether a market segment is meaningful or viable, to which criterion does this challenge refer?

accessibility

"Drug use Supports Terrorism" and "Friends Don't Let Friends Drive Drunk" are ad campaigns that are examples of _____.

advocacy advertising

Ideas for new products can come from _____.

all of these answers are correct

An advantage of the concentrated segmentation strategy is that it _____.

allows a firm to develop a specific marketing mix for a specific market segment

In a product modification _______.

an existing product's taste, texture, sound, smell, or appearance is usually altered

The three primary functions of integrative marketing communications are to: _____.

inform; remind; persuade

The distinguishing characteristics used to segment markets are collectively termed the _____.

bases of segmentation

According to Maslow's Hierarchy of Needs, the most basic needs are _____ needs.

becoming or deficit

Creston Vineyards, a California wine maker, is preparing to enter a local market in New England for the first time. Creston just verified through its attorney that this market is highly regulated by state and local laws that govern alchohol sales. Much of the local law in the small municipalities that make up a lot of this market dates back to the pre-Revolutionary period. Other state laws are holdovers from the Prohibition Era. The specific state law that is relevant to Creston dates to the end of Prohibition and was put in place to help the state collect on alcohol sales. It requires wine and spirits makers like Creston, Budweiser, and others to use a particular kind of intermediary. In other words, Creston is prohibited by state law from selling wine to liquor stores and wine retailers without using any one of a dozen or so of these local intermediaries that specialize in facilitating such sales. This type of intermediary brings liquor stores and retailers together with wine and spirits companies like Creston and collects the proper taxes on the sale. Notably, this intermediary is not a reseller. It is most likely a(n) _____.

broker

In this advocacy ad for Fundacion Viva (The Living Foundation) in Bolivia--be sure to read the copy at the bottom--it is implied that the woman centered in the ad has survived domestic violence. (She is visibly bruised on her cheek beneath a cartoon mask.) What is the basic appeal (central idea) in this ad?

call to action for domestic violence survivors and witnesses (call the number/download the app to get help)

The pricing strategy used to set prices for supplies that must be used with a core product is called: _____.

captive pricing

During major weather events like hurricanes, some businesses price gouge. That is, they raise prices by an outrageous amount to take advantage of people in a desperate situation. For example, in states where the practice is legal some have accused retailers of doubling or tripling their prices on bottled water in the days before a major hurricane. Of course, most businesses choose not to price gouge, partly this is because society expects them to behave more ethically. This is known as: _____.

caveat venditor (let the seller beware)

ACME Corp. is developing new products. The company has selected a set of ideas with potential for further development. It is conducting focus group interviews with longstanding customers to get their opinions on the ideas. ACME is making sure to include customers who have had bad experiences with the company's products, like Wile E. Coyote (pictured here on an old ACME rocket). ACME is in which phase of the new product development process?

concept testing

The X-L Manufacturing Corporation owns all its retail outlets. It uses a(n) _____ channel.

corporate vertical marketing

A vertical marketing system (or vertical marketing channel) where the different functions of distribution are owned and coordinated through one firm is called a(n): _____.

corporate vertical marketing system (or vertical marketing channel)

Even though Jeremy is nearly always the first person in his friendship group to adopt the newest in-home exercise equipment, members of his friendship group rarely seek out his advice when thinking about purchasing such equipment. Jeremy is not in great shape. And, he likes a lot of weird products that no one else likes. So, he is likely a(n) __________ on the diffusion of innovation curve.

innovator

Different individuals within the family may play various roles in the joint decision making process. Which role is of greatest interest to marketers?

decision-maker

X-L Corporation makes incredible office typewriters. The company has suffered through declining sales and profits for many years now. Interestingly, it still holds a dominant market share position because many of its competitors have abandoned the product category altogether. Typewriters have most certainly entered the _____ stage of the product life cycle.

decline

Which of the following is NOT consistent with a marketing orientation (concept or philosophy)?

defining the business by the products currently being sold

When a retailer has a wide variety of merchandise and offers a full array of services, it is most likely a(n): __________.

department store

Which of the following is NOT one (or part of one) of the functions of distribution?

disintermediation

Hassan Ali just heard from the doctor that he is in danger of developing diabetes, but that with some changes to his diet he can avoid having to take prescription medications. This warning from the doctor was the wakeup call he needed to get serious about his diet. One immediate change is to switch from ice cream (his favorite) to frozen yogurt. Virtually all the brands of frozen yogurt are similar in that they promise to be a healthier option than ice cream. But Hassan must carefully scrutinize ingredients and nutrition labels because even if brands of frozen yogurt seem similar some have just as much sugar as ice cream or more. And sugar is what he must avoid. For Hassan, this is most likely a _____ decision.

dissonance reducing

The two categories of adopters who tend NOT to be influenced by social norms in product adoption are the _____ and _____.

innovators and laggards

Shankhar owns a pet sitting service where he visits or stays in people's homes to take care of their pets while they are out of town, sometimes for weeks at a time. After operating entirely based on word-of-mouth, he just launched a new website. Now, his existing and potential customers can easily schedule his services and pay online. Shankhar's pet sitting service is an example of which kind of non-store retailer?

internet

The company's role in viral branding is to: _____.

introduce the brand to opinion leaders who make it seem authentic

Douglas and Sammy, recent Moore School graduates, both moved to Los Angeles recently. They didn't know each other initially, but met at a Gamecocks Alumni Association event in LA. Douglas asked Sammy for his Instagram, but Sammy responded, "What is Instagram?" Sammy would probably be considered a(n) __________ in social media adoption.

laggard

In a(n) _____, a retailer owns her merchandise but rents floor space inside another retail establishment.

leased department

Airline employees working at the departure gate or at the customer service desk frequently encounter travelers who react emotionally when a flight is cancelled or delayed. When passengers get upset like this (as long as they are not harming anyone), the first thing employees should do is _____.

listen to the customer

Way back in 1899, Parker Pen introduced a catalog featuring pens priced from $1.50 to $20.00. The pens at each price point were intended to appeal to different groups of customers. Parker Pen's actions, matching pens to specific customers, suggest an understanding of: _____.

market segmentation

Bojangles, a Charlotte, NC-based fried chicken-and-biscuits restaurant chain, announced that it has been purchased for cash. The New York-based private equity firm that purchased it, along with several other regional fast food chains, is classified as a(n) _____.

ownership group

When a company uses an internal sales force or manufacturers agents to build customer relationships and increase sales, which element of the marketing communications mix is it using?

personal selling

In marketing strategy, developing an image or perception in the minds of consumers that distinguishes the firm's product or brand from its competitors' is known as _____.

positioning

Phil Laws, an independent produce retailer in central Missouri, has been trying to convince his fellow produce retailers to pool their resources to bolster their purchasing power with an existing wholesaler. Phil Laws hopes they will form a(n): _____.

retailer cooperative

The X-L Corporation thinks the typical consumer in its target market segment is price elastic, and therefore responds to coupons, weekly sales, volume discounts and other price-based incentives. Which element of its integrated marketing communications mix is the firm most likely to emphasize?

sales promotion

When a firm offers (usually short-term) incentives to encourage the immediate purchase of its market offerings it is called: _____.

sales promotion

After need recognition, consumers tend to review any relevant information they have stored in memory. This process is called: _____.

search for information (using internal memory sources)

What type of discount is given to buyers who buy products or services that were previously-owned by someone else or sold out of season?

second market discount

Political candidates are well known for appealing to the different groups of potential voters. Politicians appeal to group differences, generally offering a somewhat different message to each group. In marketing terms, they are engaged in _____.

segmentation and targeting

​Given what you know from text and lecture, which of the following is the best (i.e., most complete) definition of marketing? Marketing is the process of _____.

​creating, distributing, promoting, and pricing products (and services) to facilitate satisfying exchanges with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment

​The Boston Consulting Group's matrix is based on the _____.

​idea that a product's market growth rate and its market share are important determinants of its marketing strategy

Francesca, who is looking to buy a new car in South Carolina, reconstructed her evoked set at the request of her father and her fiancé. In what stage of the family life cycle should we consider Francesca?

Bachelor/Bachelorette

What is the consumer's role in an emotional branding strategy?

Play the role of the relationship partner

What managerial activity identifies, establishes, and manages beneficial relationships between an organization and the publics on whom its success or failure depends?

Public relations

Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of an "opportunity" in a SWOT analysis?

Recent consumer studies have indicated that Chinese consumers prefer American cars.

When she was looking to buy a new car in South Carolina, Francesca did a lot of research on four-door sedans. She was originally considering Japanese and European brands, but her father and fiancé both strongly encouraged her to consider only American brands. So she ignored her research and reconstructed her evoked set to include only American brands. Which of the following factors explains Francesca's father's and fiancé's direct influence on her consumption?

Reference groups

Megabus operates buses in the Northeastern and Midwestern United States and in Canada. It offers travelers a cheap alternative to driving and flying between large cities, keeping the fares extremely low while offering the latest technology. Unlike the traditional Greyhound bus line, Megabus is an express service, and is equipped with at-seat power outlets, video screens, headsets, and seat belts. Many buses also run on biodiesel fuel. Additionally, Megabus picks up and drops off in the centers of cities rather than at inconveniently located terminals. Riders can book tickets on the website, with fares starting at just $1. Routes are limited, and are offered out of cities such as Toronto, New York, Baltimore, Philadelphia, and Chicago. Which of the following statements best decribes the product?

The ride between the cities is the core product. The at-seat power outlets, video screens, and other technology are the augmnted product.

Which of the following statements about the undifferentiated segmentation strategy is false?

The undifferentiated strategy uses multiple versions of the marketing mix to more efficiently reach individuals in the target market.

_____ refers to the strategy that assumes the brand is a unit of communication.

Viral branding

A generational cohort is a group of people _____.

who are members of the same generation

The most rapid increase in sales and profits tends to occur during the _____ stage of the product life cycle.

growth stage

Graham asked his wife Sheryl to pick up his favorite brand of spearmint-flavored chewing gum while she is out running errands. For Sheryl, gum is low-involvement and she can't tell the difference between one brand of spearmint and the other. For her, this is a _____ purchase decision.

habitual

Kerry was in the grocery store and saw a display for a new brand of organic yogurt. She does not usually eat yogurt, but her husband does. She vaguely recalls his going on and on about the health benefits of eating yogurt. But she hardly knows one brand from the other, much less whether this advertised brand will appeal to her husband. So without giving it much additional thought, she decided to give it a try and stuck some in her shopping cart. Her purchase represents: _____.

habitual decision making

In a stunning announcement, Frizbee, an industry-leading theme park, will purchase Stix & Bags of America, its primary theme park competitor. The deal is subject to approval by federal regulators but is expected to be approved. Should such an event occur, Frizbee would have created a _____ marketing system.

horizontal

The Sierra Club is an environmental organization that engages in advocacy related to environmental issues, including wilderness protection, pollution reduction, clean energy, and more. The Sierra Club's main product takes the form of a(n): _____.

idea

The difference between a firm's microenvironment and its macroenvironment is that the macroenvironment _____.

impacts every organization

In this type of vertical marketing channel, a wholesaler organizes a network of previously independent retailers under its brand name. Under the arrangement the wholesaler is entitled to a portion of revenues. This is called a(n): _____.

wholesaler-sponsored voluntary chain

Which of the following wholesalers take title to the goods they handle?

merchant wholesalers

Any interference or distraction which may disrupt effective communication is known as: _____

noise

Rui reserved a room at King's Inn hotel only to find out when she arrived that the hotel had accidentally lost her reservation and had no other available rooms. The desk attendant apologized and said, "I will happily reserve a room at the nearby Queen's Inn hotel, one of our competitors. But company policy is to only contribute up to the amount of the original reservation. So, if your stay at Queen's Inn is more expensive than your reservation with us you are responsible for paying the difference. Of course if your stay is less expensive, we'll credit you for the difference." King's Inn takes a standardized approach to service recovery known as: _____ fairness (justice).

procedural

In the new product development process, nothing is physically constructed until the _____ phase.

product and prototype development

Unilever, the company behind the popular Dove beauty products for women, has created "Dove For Men," which includes similar products (e.g., soaps, lotions, etc.) intended to appeal to men while maintaining the trust that customers place in the Dove brand name. This is an example of a(n) _____.

product line extension

In recent years, makers of beauty products (e.g., cosmetics, shampoos and hair treatments, etc.) have sought to develop products that are part of their existing product lines but are more responsive to the needs of people of color. These can best be described as _______.

product modifications

Integrated marketing communications represents the _____ "P" in the 4 Ps of the marketing mix.

promotions

In this stage of new product development, firms develop _____, which can be a hand-crafted from wood or clay, machine-manufactured, or computer-generated models of a new product.

prototypes

As you are no doubt aware, consumers place a great deal of trust in information from friends and family when making purchasing decisions. Steve has asked several friends and relatives for recommendations on local car repair. To a person, they recommended Skola's Auto Repair. It has a great repuation for reasonable prices with reliable service. Steve was about to call Skola's to schedule service when his friend Kayla mentioned that even though she would recommend Skola's, they made a mistake on her bill last month. Once she pointed it out, they fixed the error and apologized. But, Steve had a terrible experience with a contested bill with a previous auto repair place. And just like that, based on one piece of information, he changed his mind. He did not want to risk a similar experience. This is an example of _____.

selective attention

_____ is a type of selective perception that involves adapting the meaning of a message to fit one's existing beliefs and values.

selective interpretation

Sandy thinks the east side of the city is a great area to own a home and raise a family. John thinks it is a poor location for that purpose. They have different _____ the east side of the city.

selective perceptions of

Which of the following elements of the integrated marketing communications mix is designed to facilitate multi-way communications?

social media

This type of mass merchandiser typically offers a deep assortment of products within a single or narrowly defined product category.

specialized mass merchandiser

________ is another term for private-label brands.

store brands

When merchant intermediaries take on financial risk it is most commonly the result of: _____.

taking title to goods

Which of the following services is never provided by agents or brokers?

taking title to goods

In 1963, General Foods developed the first toaster pastry, initially called Country Squares. Retailers and consumers eagerly awaited the arrival of this new product. Meanwhile, the company's competitive archrival, Kellogg, reverse engineered Country Squares (whose name changed to Toast'em Pop Ups) and quickly developed its own version. In fact, while General Foods was still making minor adjustments to Toast'em Pop Ups in its laboratory, Kellogg sold it's version, which it called Pop Tarts, in Cleveland, Ohio to gather data on consumer satisfaction. Pop Tarts sold out in Cleveland, Kellogg launched them nationally. And hardly anyone has ever heard of Toast'em Pop Ups. Cleveland served as a _____ for Pop Tarts.

test market

Which of the following was least like a new-to-the-world product or dynamically continuous innovation when it was introduced?

the Mercedes sport utility vehicle, a smaller version of its larger SUVs

When a fast food chain like Popeye's Chicken chooses product differentiation as its competitive advantage over other fast food chains like Burger King or KFC, it primarily articulates that advantage through _____.

the brand

The overall goal of cultural branding is to _____.

transform identity brands into iconic brands

The basic logic of socio-cultural approaches to brands, which is radically different than attribute-based approaches, is to treat brands as stories with multiple authors steeped in history. This helps reveal the conditions that enable brands to resonate at certain times but then be dissonant (or noisy) at others.

true

Michael is buying toothpaste, a product he doesn't want to have to think about too hard. At the same time, there are so many wildly different alternatives he finds it hard to compare product features (e.g., teeth whitening, tarter reduction, fresh breath, flavors, etc.). As a result, his bathroom sink is cluttered with different tubes of toothpaste that he has tried, some just once or twice. He is engaged in _____.

variety-seeking decision making

If an item costs a reseller $50, and the reseller used a 100% markup on cost, what would the selling price be?

$100

Raymond estimates that the fixed costs associated with opening a new bank branch are $500,000. He expects the branch to attract 1,000 new customer accounts in the first year, each of which will cost $50 per year to service. He also expects to generate $100,000 per year in revenue. For Raymond, the total cost of opening the new branch and remaining open for one year will be: _____.

$550,000

Jacob rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $20, to cover maid service and utilities. His fixed costs are $100,000 and his profit last year was $20,000. For Jacob, the contribution margin is: _____.

$80

If the fixed costs of manufacturing a new cell phone are $10,000, the sales price is $60, and variable cost per unit is $20, the break-even point is: _____ units. To calculate breakeven in (units) divide fixed costs by contribution margin.

250

In the US, the federal agency that regulates deceptive or misleading advertising (and other business practices) is the _____.

Federal Trade Commission (FTC)

For families with elementary-, middle-, or high school-aged children, a sense of being constantly pressed for time, which leads some to buy "extra large" or "family size" packages of products in order to decrease the time spent shopping, is especially prevalent in which stage of the family life cycle?

Full Nest 2

In this ad for Fitness Time (Saudi Arabia), what is the basic appeal?

Get fit so you can do the things you fantasize about (e.g., skiing)

Which of the following is NOT an accurate description of culture?

It is an important part of the human genetic make-up.

During the _____ era, manufacturers and retailers began to focus on what consumers wanted and needed before they designed, made, or attempted to sell their products.

Marketing orientation

Which of the following is an example of regulation in the political-legal environment?

The U.S. Food and Drug Administration prohibits the sale of some popular cough medicines over-the-counter, such as on supermarket or drug store aisles.

Jody had too much to drink, tried to drive home, fell asleep while driving and was killed in a one-car wreck. The first thing his grief-stricken widow Elizabeth purchased after learning of his death was funeral services (an unsought product). What is true about distribution in the exchange? (That is, aside from DON'T DRINK AND DRIVE!)

The functions of distribution are all being performed by the funeral services provider

Which of the following is the best example of a family brand?

Tostitos Multigrain Scoops and Tostitos Chunky Salsa

You work as an analyst at the X-L Corporation. Upper management has asked your unit to write the Situational Analysis for the company's marketing plan. Your unit lead provides you with the following master list of environmental factors to be addressed in the analysis. 1. Foreign exchange rates 2. Trade law changes 3. Population growth rates 4. Tax law changes 5. Environmental regulations 6. Production automation trends 7. Health and medical trends Your unit lead then asks you to write the subsection of the Situational Analysis on key features of the political-legal environment that make up the company's current situation. Which factors from the master list should you include in that subsection?

Trade law changes; Tax law changes; Environmental regulations

When Francesca, a first-year attorney at a prestigious local law firm, was looking to buy a new car, her father and fiancé convinced her to only consider imported luxury brands like BMW and Lexus. They cite as reasons the consistently high quality ratings for these brands, their additional safety features over most American brands, and the status signal a luxury car would send to the partners at her law firm. They feel that even though Francesca will find it difficult to afford a luxury car and pay down her student loans on a first-year attorney's salary, it is the right kind of investment for her to make. Francesca, her father and her fiancé are most likely members of which class?

Upper middle class

What is the basic appeal of this Durex (condoms) ad?

Use Durex condoms to prevent unwanted pregnancy

Which of the following products is best described as having low separability, meaning that the benefit is received at or close to the time the product is created? (Note: assume all products work as intended.)

a flu shot purchased at the pharmacy or doctor's office

Parents of young children have been known to drive out of their way so that their children will not see McDonald's Golden Arches and beg their parents to stop. The Golden Arches symbol is an example of: _____.

a logo

The marketing orientation is based on the philosophy that buyers and sellers develop _____.

a long-term relationship based on mutually beneficial exchange

The basic communications goal in the mindshare approach to branding is to: _____.

articulate the value proposition to the target market segment

In this ad for Fitness Time (Saudi Arabia), what is the execution format?

association

Marketers need to think about the product offer on multiple levels. Which of the following refers to product benefits like warranties, financing, support, and after-sale service?

augmented product

Which of the following features of the brand is most closely related to the value of the firm's stock?

brand equity

Cosima has been a buyer for Harvest Mist, a large cranberry processor, for several years. She buys cranberries in small quantities from a wide array of cranberry growers that Harvest Mist turns into juice and other products. Believing that she has learned the business, she decides to start her own company as an independent ____, bringing the growers and processors together to help facilitate a sale. This way she assumes none of the risks if cranberries spoil or if there are wild price fluctuations (since she will have no authority to set price).

broker

When Tide™ introduced its Buzz™ Ultrasonic Stain Remover powered by Black and Decker® this was an example of a _____ strategy.

co-branding

Though he has never owned a Jaguar, Jerry thinks they are poorly made and have many mechanical problems. For Jaguar to sell a car to Jerry, the company would need to change the __________ component of his attitude.

cognitive

Hassan Ali is considering the purchase of a brand new state-of-the-art entertainment system. As a novice in the product class, the differences between the brands seem enormous. He loves watching movies at home and has spent dozens of hours scouring Consumer Reports, reading magazines, and talking to friends about product options. For Hassan this is most likely a _____ decision.

complex

Sarah Phipps is an accomplished golfer who really enjoys the sport and plays frequently in local tournaments. She just heard about a new club that claims to add up to 20 yards per drive for experienced golfers like her. She is concerned about switching brands though because clubs can be quite different. Eventually, the temptation to add 20 yards is too much to resist. She buys the new brand to see if it really lives up to the claim. This consumer behavior decision is best described as: _____.

complex

_____ first appears in the 18th century, as exchange of mass-produced goods in the marketplace became the central feature of social life. By the mid-1950s it had blossomed to become the dominant way to organize social life.

consumer culture

When Apple manufactures its own products then sells them through its Apple retail outlets. It uses a(n) _____ channel.

corporate vertical marketing

Sam's Clubs and other so-called "wholesale clubs" have gained success by appealing to a broad range of consumers rather than stressing more precise segmentation. The company believes this approach keeps costs low. What kind of segmentation strategy is this?

countersegmentation

In the case of completely inelastic demand (e.g., the demand for a life-saving medication), _____ even if there is a huge increase in price.

demand stays constant

In a clear example of caveat venditor, tobacco firms have stopped targeting teens and young children in their marketing efforts. In fact, these firms have run advertisements asking them directly to NOT use their brands. This is an instance of a(n) _____ strategy.

demarketing

Montgomery Ward was initially founded in 1872 by Aaron Montgomery Ward as a mail-order catalog. Ward had worked professional sales, travelling to rural areas. He started the catalog because he noticed that many consumers wanted high-quality products but were only served by small general stores, and quality was often lacking. In the 1920s Montgomery Ward expanded from a pure mail-order business to include a type of fixed-site retail business that offers a wide variety of merchandise with a full array of services. In other words, Montgomery Ward added __________.

department stores

Gotham Home Decor sells expensive custom-made draperies, bedding, and accessories through sales representatives who are also interior designers. It also has another, slightly less expensive line that it sells through stores such as Nordstrom's and Saks Fifth Avenue. Gotham Home Decor is most likely using a(n) ____ segmentation strategy.

differentiated

When Otto went to Tucson, AZ and bought authentic homemade tamales from a street vendor the product moved from producer to consumer without intermediaries through a(n): _____.

direct channel or distribution

Janet Peters wants a new carpet steam cleaner, but would like to see it in action before committing to purchasing it. Which would be the best retail approach to meet her needs?

door-to-door sales (direct selling)

What is the consumer's role in an emotional branding strategy?

enact the role of the relationship partner

When consumers consult marketing (e.g., advertising) or non-marketing sources (e.g., friends and family, etc.) to help solve a problem, they are involved in what stage of the consumer behavior decision making process?

external information search

The single most important influence on consumer behavior is _____.

family

The sequence of stages a family goes through over the course of its existence is called the _____.

family life cycle

Many corporations routinely monitor population growth trends in various regions to identify opportunities for future market growth potential. For instance, many expect the northeast area of Columbia, SC to grow rapidly in population over the next decade. This is an example of _____ segmentation.

geographic

By promoting its CK One fragrance based on youth, style, and sex appeal using a differentiation strategy, we can say for certain that one of Calvin Klein's objectives is to: _____.

increase the perceived value of its products relative to others

For the third time this quarter, May's General Store (a retailer) had its order from the same wholesaler arrive more than one week late. Frustrated, May kept the late-arriving merchandise but refused to pay for it. She then canceled all remaining contracts with the wholesaler. After initially threatening to sue May for breach of contract, the wholesaler reasoned that it might not win in court since its delivery was repeatedly late. Further, winning in court might not even be worth the legal fees. For the wholesaler, this is an example of the limits of relying on _____ power.

legitimate

Those purchases that are low in personal importance and involve little energy in information search and acquisition are called: _____.

low involvement decisions

Brian is struggling with the choice of whether to publish his new book, titled, How to Barbeque in Polish, as an e-book or a paperback. This decision immediately addresses which core aspect of the marketing mix?"

making the product

Kohler Inc. manufactures faucets, sinks, tubs, toilets and other plumbing products. Management thinks that there will soon be major growth in home remodeling due to rising home prices, and therefore decides to use ____, a merchant wholesaler that is part of its corporate vertical marketing channel, in several key cities to carry inventory, offer credit, and other services to its retail plumbing customers.

manufacturers' sales branches

The profits to be made from opening new supermarkets in suburban and exurban areas where the wealthiest clientele live have diminished in recent years. In response, many large supermarket chains have begun to open stores in comparatively poorer downtown and inner-city areas for the first time. Much to the surprise of some, the stores have been profitable in their new settings without needing to alter their existing marketing mix much at all. This is an example of a (n):_____.

market development strategy

Writer Sam Tingleff argues that the writers of The Simpsons directly critique consumer culture in an episode called the "Simpsons Spin-off Showcase" (see image). In one scene the family sings a song about candy, conspicuously substituting an older, more attractive replacement for the Lisa Simpson character. "Candy" in this instance is a symbol for consumption, as well as the social problems associated with over-consumption (e.g., excessive financial debt, obesity from overeating, drug addiction, etc.). Marge, displaying her classic utilitarian motives, is the only one to question candy's impact on the family and society. She sings, "Well if you won't think of society's ills, at least think of the dentist bills." But, the family responds only with the desire to consume even more. "We want candy! Candy!" Marge is worried about the family consuming so much candy, but soon caves in to their wishes. To which of the three major critiques of consumer culture does this episode of The Simpsons belong?

materialism

Which of the following segmentation criteria relate to the degree to which the size and purchasing power of potential segments can be accurately calculated or estimated?

measurability

An organization's reason for being may be stated formally in a(n) _____ which is intended to communicate the organization's purpose and guide the actions of its members.

mission statement

Creston Vineyards, a California wine maker, is preparing to enter the Chicagoland (Chicago metro area) market for the first time. Chicagoland is a large, complex market where wine retailers are notoriously hostile to new wines. Thus, Creston hires a wine broker with a reputation for a willingness to work with Chicagoland retailers to buy new wines. Still, Creston knows that it will take years to build brand recognition in this market. So in the meantime Creston will also expand its private label business into Chicagoland through Trader Joe's grocery stores. (Creston has sold private label wines to Trader Joe's stores in California and throughout the Western US for years.) Additionally, it has a partnership with wine.com, where people can purchase wine on the internet and have it shipped to a local retailer. (It is not legal to ship wine direct to a residential address.) What kind of distribution system is Creston using?

multichannel or omnichannel

Since getting married and buying a house Joseph and Mary have been having a joyous time together. They won the neighborhood haunted house contest with a The Texas Chainsaw Massacre theme this past Halloween. They travel together regularly. They both run in local races. They even do household chores like grocery shopping together. Based on what you now know about their lifestyle, which stage of the family life cycle are they most likely in?

newly married couple

The retail sales strategy where sales do NOT occur at a fixed location is called: _____.

non-store retailing

Alcoholic beverage firms sometimes hire attractive young people to sit at popular bars and sip the company's latest products. The firms hope these "models" (brand ambassadors or brand representatives) serve as a(n) __________ who influences other consumers.

opinion leader

Marketers interested in consumer perceptions of their product offerings compared to competitors' offerings may plot geometric descriptions of the products or brands of interest. The graphical depictions of product/brand market positions are called _____.

perceptual maps

Adidas uses local manufacturers' agents to represent its products to local high schools seeking to outfit their interscholastic sports teams. Which element of the marketing communications mix is Adidas using?

personal selling

The correct order of becoming and being needs is: _____.

physiological, safety, social, esteem, self-actualization

Interpersonal relationships between adults and children differ substantially across cultures. For instance, in some cultures it is considered rude for children to interact socially with adults unless an adult requests it. ("Children are best seen and not heard.") In other cultures children are encouraged to interact assertively and confidently with adults. This suggests differences along which dimension of cultural variation?

power distance

Most large grocery store chains sell products that are made for them by a manufacturer under a contractual agreement with the store and sold under the store's brand name(s). These are examples of _____ brands.

private

What (general) type of ad is this for Fitness Time (Saudi Arabia)?

product ad (competitive)

A university that manages separate graduate and undergraduate admission offices recognizes that these are distinct _____ in a product portfolio.

product lines

Digital cameras, printer and camera docks, medical and dental imaging equipment, cinematographic, and graphics communication systems are all part of Eastman Kodak Company's _____ in its product portfolio.

product mix

The total assortment of products and services marketed by a firm is called its _____.

product mix

This ad for JBL's noise cancelling headphones puts the execution format (still life) right in the copy at the bottom. But what is the other main execution format in this ad?

product uses/problem solutions

What is the execution format of this Durex (condoms) ad?

product uses/problem solutions

Each of the following is (or is part of) one of the three basic functions of distribution channels, except: _____.

production

General Motors Corporation is a major purchaser of steel and rubber for use in its many products. The steel and rubber purchased by the firm are considered _____ products.

production

McDonald's Corporation is the largest purchaser of vegetables (especially lettuce and tomatoes) in the USA for use in its many products. The lettuce and tomatoes on the Quarter Pounder sandwich, for example, are considered _____ products.

production

What is the appeal type of this Durex (condoms) ad?

rational/informational

In which of the following measures of advertising effectiveness is the consumer given the MOST assistance in remembering the brands under consideration.

recognition

The National Automotive Parts Association, more commonly known as NAPA Auto parts, consists primarily of independent auto parts retailers that have combined their financial resources and their expertise in order to more effectively control their wholesaling needs. This is called a(n): __________.

retailer cooperative

Comfort-Tech management learns that last month's production run of two different models of space heaters at its Dubuque plant came out defective. The firm is getting reports that the shut-off switch will not work properly, which is a major fire hazard. The firm announces a recall of those specific models. The large number of products it expects to be returned to stores, and then eventually to Comfort-Tech, will travel through a _____ distribution channel.

reverse

Flower girls first appeared in wedding ceremonies in the Middle Ages. Two identically dressed young girls-usually sisters-would carry wheat (a symbol of fertility) before the bride in the procession. Later, flowers replaced wheat and it became customary for the girls to drop flower petals at the bride's feet. The flower girls are part of a cultural practice that consists of a structured sequence of symbolically important acts, called a(n) _____.

ritual

Movie theaters commonly offer price discounts on movies shown before 6pm on Sunday through Thursday in order to smooth out demand over the day. When companies offer this kind of incentive to encourage (relatively) immediate purchase it is a form of _____.

sales promotion

The makers of Laundry Whizz, a new laundry detergent, have decided to go to several different colleges and universities to conduct a contest to find the dirtiest shirt on campus. Laundry Whizz will set up several washing machines near the campus bookstore to demonstrate the detergent's raw cleaning power by having contestants wash their dirty shirts. Each contestant in the will receive a coupon for a free bottle of Laundry Whizz. The contest winner will receive a $100 gift card for the college bookstore. This contest is an example of a(n) ____ used to stimulate ____ demand.

sales promotion; selective

Political candidates are well known for their attempts to appeal to the different groups of potential voters with different interests. Once they understand which voter group(s) they want to appeal to they craft a message intended to resonate with each group. In marketing terms, they are engaged in _____.

segmentation and targeting

Daniel loves to watch The Masters golf tournament on TV but hates all the advertisements for retirement planning services and insurance. In response, he turns off the broadcast during commercial breaks to chat on social media with other tournament viewers. After about three minutes (the typical length of a commercial break) he turns the broadcast back on. Daniel is engaging in _____.

selective exposure

Which of the following types of consumer products enjoy the strongest brand preference? (Hint: consumers spend the most effort in acquiring them.)

specialty

Zappos, an online apparel retailer, has earned a good reputation selling shoes. It knows that many consumers will spend a great deal of time comparing alternatives when buying shoes, meaning that for them shoes are a(n) __________ product. Zappos overcomes the potential competitive disadvantage of a long information search by including a free, no-questions-asked return policy as part of its augmented product.

specialty

The entity that pays for an advertised message delivered on its behalf is called the _____.

sponsor

Those specific market segments or groups of customers the marketer proposes to serve, or whose needs it proposes to satisfy with a particular marketing mix are called _____.

target market (segment)

A manufacturer that has a highly skilled and well-paid internal sales force also uses a manufacturers' agent (sales rep) and an industrial distributor to serve some less profitable market segments. Why does it use the agent and distributor instead of expanding its sales force to cover all segments?

the firm does not wish to incur the cost of expanding its existing internal sales

Robert began a small financial services firm some 40 years ago because the partners at the firm where he originally worked refused to recommend him for membership at an elite private country club. Like many such clubs, new members must be recommended by existing members and are expected to come exclusively from the highest social class group. Despite being wealthier than many club members, the partners told Robert, "We love the work you do for the company, but you're just not one of us. We cannot recommend you as a member." His pride injured, he resigned that day and opened his firm the very next week. Robert's proudest day has come all these years later, as his son was recommended for membership and joined the club. What social class is Robert most likely in?

the lower-upper group in the capitalist class

Under a licensing agreement, the owner of a _____ has the legal right to use a brand name, slogan, or logo, and may allow another firm to use it in return for payment of royalties.

trademark

Brands are assets that can be legally protected through: _____.

trademarks

A household ritual like decorating the Christmas tree can reveal people's very different motives. In the Lee family, for Joseph, decorating the tree is a ritual of family togetherness and unity. It is an all-evening experience to be sipped and savored alongside a roaring fire with a mug of hot cocoa. Then, after the children are asleep, it's time to wrap their gifts. For Mary, decorating the tree is a savage competition between neighborhood families to see whose artistic expression of the holiday will dominate the neighborhood get-togethers that will occur over the next few weeks. Joseph has _____ motives, while Mary has _____ motives.

utilitarian ; hedonic

The Wood True Value Hardware Store, located in West Columbia, SC is part of a group of independent retail hardware stores that agreed to be organized by True Value (a wholesaler) in return for the use of its name and a variety of marketing support activities. Wood True Value Hardware is a(n): _____.

wholesaler-sponsored voluntary chain

​Which of the following scenarios most directly involves the distribution element of the marketing mix (4Ps)?

​Deciding whether to continue using traditional retail outlets in addition to online sales

he Federal Reserve Bank just issued its economic report on the U.S. economy for the quarter just ended. The following key points are taken from the executive summary: "Economic activity has continued to decline at a moderate pace over the last several quarters." "Manufacturers report that business activity is largely unchanged in recent weeks." "Tourism activity has strengthened a bit, based mostly on holiday travel but the outlook is not good." "General merchandise retailers report that holiday sales online were worse than expected." "Retail contacts generally say that inventories remain a problem, however prices are mostly steady, and discounting is little changed from a year ago." Based on these economic forces, you can conclude

​that the economy remains in the recession stage of the business cycle.

​ Successful business organizations should take actions to convert internal weaknesses into ____ and external threats into ____.

​​strengths; opportunities