exam 3 business business
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a salesperson who calls a potential customer for the first time is in the _____ stage of selling process
approach
wholesalers who serve mostly smaller businesses who come in to pick up a few items, pay for them, and take them with them are known as _______ wholesaler
cash and carry
toys r us and office deport are examples of type of retailer known as
category killer
a type of psychological conflict that can occur after a major purchase is
cognitive dissonance
revelations about whether or not a new product will be liked and purchased by consumers are revealed during
concept testing
the investigation of consumer thought processes at each stage in a purhcase in order to determine the best way to help the buyer buy is called:
consumer behavior
it is important that marketers convert data to useful information to help managers make better _____
decisions
compared to consumer market, buyers in the B2B market tend to be more
geographically concentrated
a _____ campaign does not always recognize specific cultural differences from one region to another
global advertising
another name for a dealer brand or private label brand is
house brand
the consumer market is made up of
individuals and households
installations, capital items, and accessory equipment are examples of
industrial goods
product used in the production of other products are
industrial goods
when a product is hard to sell, it requires testimonials, demonstrations and graphics which lend itself to employing the use of _____ as a promotional strategy
infomercial
some products, such as personal development seminars, real estate programs and workout tapes are best promoted through
infomercials
an advantage of rfid chips is that they carry more ___ than bar codes
information
the two way flow of communication between marketing participants is called
information utility
when a company launches a full-length TV program devoted exclusively to promoting goods and services they have launched an ___
informercial
when a consumer insists on one specific brand, making the product a specialty good, it is known as brand ___
insistence
in the 1950s, a philosophy emerged where a business recognized the need to be responsive to consumers if they wanted to get their business. This philosophy is referred as
marketing concepts (CSP)
the distribution channel created when independent contractors are recruited by upliners and then recruit downliners, all of who receive commissions is called
multilevel marketing
US food companies that do business globally
must adapt to local tastes
when a brand name becomes generic name, manufacturers:
must come up with new names for their differentiated offering
a presentation in the sales process is designed to match the benefits of a product to the client's
need
a good reason public relations is becoming more and more important today is:
newspaper have cut staff and need sources of information
in setting a product's_____, a business need to take into account producing, distributing, and promoting the product
price
the cost of producing, distributing and promoting will all influence the product's
price
the costs of producing, distributing, and promoting the product will all influence the product's:
price
which of the four p's below is the most difficult for a manager to control due to the impact it has on consumer evaluation of an offering?
price
due to competition and demand in the marketplace, ___ and ___ are not always related
price and cost
often secondary data does not provide all the information managers need for decision making, and they must gather ____ data
primary
a group of products that are physically similar or are intended for a similar market are referred to as a
product line
companies rarely sell one product but offer a
product line
the consumer market concentrates on goods and services for personal consumption and the b2b market focues on goods and services to be used in
production
the first era in marketing then.... era followed by selling era
production 1. marketing 2. production 3. selling
_____ consists of all the techniques sellers use to motivate people to buy their products
promotion
when a salesperson first identifies a potential buyer, the sales person is _____
prospecting
sometimes marketers place representatives at a supermarket to hand out free samples. What promotional tool are they using?
sampling
the use of ______ advertising such as that on google or bing, bring together marketers and those they would like to reach
search engine
when production capacity exceeded the immediate market demand, the business philosophy changed from the production era to the ______ era
selling
when a customer receives fast and friendly service after purchase, he or she is to be enjoying ____ utility
service utility
value quality price and style are closely scrtinized among similar products before a consumer decide which ____ goods to purchase
shopping
profit-making and nonprofit organizations use _____ promotional techniques to communicate with people in their target markets
similar
when a firm prices a new product very high to make optimum profit while there is little competition is called
skimming price strategy
sending goods by ship is the least expensive way to transport, but the drawback is that it is
slow
an important addition to online market research is
social media
a person who will oversee the process of managing the movements of goods from raw materials to the ultimate consumer and any necessary returns or recycling is in the busniess of
supply chain management
the entire sequence of linked activites that must be performed by organizations to move good from the sources of raw materials to the ultimate consumer is
supply chain or value chain
"would you like me to put that on hold"? is an example of a _____ close for a B2C customer
trial
a step in the selling processes that consists of a question or statement that moves the selling process toward the actual close is known as the ____ close
trial
products that consumers are unaware of or have not thought of buying are
unsought
the talking arm of public relations is known as
publicity
existing data is called ____ data since you arent the first one to gather the data
secondary
marketers should gather ________ data first because it is already available and to avoid incurring unnecessary expense
secondary
B2B sales are based on selling because there are fewer customers and they demand more personal
service
product lines and product mixes are also present in the ____ industry
service
the focus of the marketing era that makes sure everyone in the organization has the same objective - customer satisfaction is the _________ orientation
service
the marketing concept that relates to the idea that the entire organization must be focused on customer satisfaction is called
service orientation
a type of utility that is especially important for retailers as a competitive advantage in selling more complex products such as computers that require continuing assistance for updates and training is
service utility
since population growth and changing demographics can have an effect on company sales, marketers must monitor:
social trends
when evaluating the marketing environment a company looks at population shifts, values, attitudes and trends. these are referred to as ____factors
sociocultural
the primary benefit of shipping goods by air
speed
customers, employees, shareholders and other provide some of the research that companies gather These groups are directly affected by the company are called _____
stakeholders
holding goods in a facility or facilities for later distribution in a logistics function known as:
storage
in the US the great amount of money spent on advertising is on
television
testing a product among potential users is:
test marketing
new products are getting rapid exposure to global markets through
the internet
when consumers calculate ___ they look at the benefits of a product or service and subtract the costs to determine whether the benefits exceed the costs
value
____ change according to the level of production
variable costs
materials and direct labor costs used in making products are example of ____
variable costs
a way that traditional retailers can complete with online retailers is to
be so efficient they can beat them on cost
the segmentation technique where the product features appeal to certain segments:
benefit segmentation
perceived value of a product is calculated by consumers through careful consideration of
benefits and services associated with product
at the core of brand equity is
brand loyalty
the degree to which customers are satisfied, like the brand, and are committed to further purchases refer to :
brand loyalty
direct responsibility for all aspects of a product line or a brand including the marketing mix is the role of the
brand manager
a word , letter or group of words or letters that differentiates one seller's goods and services from those competitors is called
brand name
the point where revenues from sales equal all costs is called the
break even point
a firm is at ______ point when revenue is equal to all costs
break-even
personal sales today makes use of such tools as tablets and laptops to help the buyer to _____
buy
which factor is part of buying procedures in the B2B market
buyers are well trained and more professional
goods that are intensive distribution
candy gum milk
market research is a continuous process responding to
changes in consumer preferences and the marketplace
after a salesperson successfully answered a customer's objection, he or she will have to ____ the sale
close
asking for the order and showing the clients where to sign is known as ____ the sale
closing
the best appeal for shopping goods are
combining price, service, and quality appeal
promoting a product to distributors and retailers and developing strong advertising to generate interest in the product are components of ___
commercialization
companies that develop elaborate cost accounting systems to measure production costs, add in a margin of profit and come up with a price using
cost-based pricing
demand-based pricing is based on what customers are willing to pay for a produce due to its perceived value, not the _____ of producing it
costs
retailers who sell goods and services to ultimate consumers over the internet are engaged in
electronic selling
the transformation of raw materials, parts, and other input into finished goods such as shoes cars or clothes is done by
factory processes
B2B is another name for
industrial good
when a company offers an online forum used to answer questions about its products, it is engaging in ____ promotion
interactive
illegal copies of national brand name goods are called
knock offs
direct translations of slogans and product names from one ____ to another often misrepresent a product
language
changes in an individual's behavior resulting from previous experience is:
learning
sample variables that are part of psychographic segmentation
lifestyle and personality
wholesalers who perform only a few functions but do them especially well are
limited function wholesalers
when marketers target future buyers with sampling, coupons and rebates while using publicity to target all customers in a particular region, they are exhibiting ____
management of the promotion mix
a ____ agent represents several non-competing manufacturers in a specific territory, where as ____ agent represent a single prodcucer in a large territory
manufactureres, and sales
paying attention to the needs of stakeholders such as customers, employees, shareholders, dealers and media representative is part of
marketing research
developing products and promotions to please large groups of people is ______ marketing
mass
______ enables independent producers to create self-published, syndicated "radio shows"
podcasting
which form of utility is concerned with transferring ownership of a product or service from one party to another
possession
questions like "which people in the company will use the product?" are addressd durng the ______ phase
preapproach
retail salespeople do not usually have to go through the ____ step in the selling process
preapproach
the starting key component in the marketing mix is to design and offer a want-satisfying
product
determining profitability at various levels of sale is
break-even analysis
making a product readily available and creating the proper image is the best way to promote a good classified as
convenience good
in a wholesaler - sponsored chain, such as ace hardware, the retailers agree to
cooperate as a unified system of store
in which type of distribution system are all of the intermediary functions owned and controlled by the manufacturer?
corporate
sponsoring rock concerts or attending events to promote your product is ____ marketing
event
a _____ name is the name for a whole product category
generic
during the growth stage of the product life cycle, sales and profits mostly
increase
an ___ good is sold from one business to another
industrial
oil-drilling bits, cash registrar, and office desks are _____ goods
industrial
when independent contractors are recruited by upliners and then recruit downliners, all of whom receive commissions, ________ marketing is being employed
multilevel
the emphasis in those firms with a customer orientation is to meet consumer ____ rather than on promotion and sales
needs
one of the fastest-growing segments of the US population is
over 65
the channel of distribution with functions that occur between the producer of goods and services and the consumer and is part of the
overall supply chain
developing cost estimates and sales forecasts to learn whether a new product idea meets financial objectives is called
product analysis
the main goal of ____ is to get a feel for the profitability of new product ideas
product analysis
when marketers advertise on an online search engine such google or yahoo, they can
reach more people they most want to reach
an increasingly important part of the supply-chain process that involves re-using roducts that are not completely used up is
recycling
individual consumers percieve the category of a good or service differently, for many coffe is a shopping good but for those who require starbucks it has become a _____
specialty good
business consulting services, imported chocolates, fine watches, and expensive win is
specialty goods and services
an example of product that require exclusive distribution strategy is
sport cars
specialty products are considered
to have no subsitute
when a consumer insists on one specific brand, making the product a specialty good, it is known as
brand insistence
when the consumer will not accept a substitute for a particular product, the consumer has developed
brand insistence
an agent or broker
brings sellers and buyers together
the marketing task is different depending on the product _____
category
agents, brokers, wholesalers, transportation companies and retailers who together move goods from producers to consumers form a path called ______
channel of distribution
the key advantage of secondary data is that the cost of collecting the data is ______ than for primary data
cheaper
is the marketing process of promoting a product to distributors and retailers and developing strong advertising and sales campaign to generate and maintain interest in the product among distribturos and consumers
commercialization
promoting a product to distributors and retailers to get wide distribution is
commercialization
B2B is larger than the _____ market
consumer
there are relatively few customers in the B2B market because there are just a few construction or mining companies compared to 80 million households in the US ______ market
consumer
adding up various costs relative to producing a car such as engine parts, body, tires and radio and adding a profit margin to come up with the vehicle price is
cost-based pricing
set of values attitudes and ways of doing things passed from one generation to another
culture
a ___ store carries a wide variety of product such as clothes, furniture, and housewares, usually at higher prices than discount store
department
the product life cycle is a theoretical model that
describes the sales and profits of a product class
the marketing research process is conducted in order for a company to make good decisions because it
determines opportunities and challenges
age, education level, income and taste are all examples of how consumer groups:
differ greatly
a warehouse used to gather shipments from any places and quickly redirect them to another location is ____ warehouse
distribution
when marketers promote products to _______ and dealers they implement sales promotion to intermediaries
distributors
a key function in marketing is to find a customer need and ____ it with a product or service
fill
a butcher who cuts a larger piece of beef into steaks is an example of _____ utility
form
a manufacturer who assembles the components of a computer for sale is providing which form of utility
form
an organization that puts many small shipments together for different companies to create a large, cost-effective shipment is
freight forwarder
the activity that control the planning, implementing, and controlling of the physical flow of materials and information from points of origin to points of consumption to meet customer requirements at a profit is:
logistics
when marketers gather information on business trends, global trends, and consumer buying patterns they are conducting:
market research
campbell soup is a company that has had some success studying consumer markets and breaking them down into groups WITH SIMILAR CHARACTERISITICS known as
market segments
choose the term that is defined as a set of processes for creating, communicating, and delivering value to customers
marketing
there is a wider variety of careers in ____ than in most business disiciplines
marketing
understanding the product life cycle can provide marketing managers some basis for planning ____ strategies
marketing mix
understanding the product life cycle can provide marketing managers some basis for planning
marketing mix strategies
the goal logistics is to manage the physical flow of materials and information from points of origin to points of consumption:
meeting customer requirement at a profit
the goal of logistics is to manage the physical flow of materials and information from points of orgin to points of consumption;
meeting customer requirements at a profit
when a firm is independtly owned and takes title of the goods they handle, they are ___ wholesalers
merchant wholesalers
the use of text messaging by marketers is known as:
mobile marketing
when starbucks sends out a text message to alert consumers when they are near a store it is engaging in _____ promotion
mobile media
when answering ___, a salesperson should think of questions as opportunities for creating better relationships rather than challenges
objections
adding value to products by having them where people want them is ______ ultility
place utility
if a producer's use of coupons in a _____ strategy is successful, then consumers will go to the store and request the products
pull
in the selling process, making sure that people have a need for a the product, the authority to buy, and the willingness to listen to a sales message is known as
qualifying
marketers use age, education level, income and taste to _____ markets
segment
masterfoods tried to promote caramel MM to the US hispanic market and failed, but it had great success selling products that proved successful in Mexico to the Hispanic market in the US. This suggests that some markets are large enough for
specially designed promotion
a retailer that sells a wide selection of goods in one category, such as jewelry is an ____ store
specialty
companies that use ___ make price an input to the product development process by estimating the price people would be willing to pay for a product then subtracting
target-costing
classifying goods by shopping category helps marketers determine the best strategy and marketing __
tasks
within the marketing environment, computers, telecommunications, bar codes, data interchange, and internet changes are all considered:
technological factors
what is the type of nonstore marketing that uses toll-free numbers to supplement online or catalog sales
telemarketing
the tools that can help companies measure online conversations about their products and their personnel are called ________ tools
texting mining tools
when bundling goods or services into one package, marketers must not include so much that :
that price becomes too high
recognizing what stage of its life cycle a product is in has a direct impact on marketers decisions about
the marketing mix
despite the growth of alternative promotional tools, such as mobile and internet advertising ____ is still dominant medium
tv advertising
in order to determine the proper marketing strategy, goods must be classified by
user category
the want-satisfying ability, or value, that organization add to goods or services is
utlity
a company that pays people to say positive things about its products over the internet is using _____ marketing
viral
products in the same product line usually
face similar competition
a firm that purchases goods from a manufacturer and then sells those goods or product to final consumers is considered an
retail
a major employee of marketing graduates are ____ organizations
retail
a contractual distribution agreement that requirements cooperation in promotions, purchasing, and other distribution functions and is initiated by the retailers is a
retail cooperative
a contractual distribution system where independently owned retailers intitate an agreement to cooperate on promotions, buy from the same wholesaler, and use the same name
retail cooperative
during the production era it was believed that one should produce as much as you can, because:
there is a limitless market for the product
a local cable satellite company offering $100 bonuses to existing customers who refer their freinds and family is relying on
viral marketing
when company ads for luxury products include well known and succesful people, the ad is making an attempt at brand____
association
sponsoring events like football's fedex orange bowl is an example of way to build
brand awareness
a market that consists of all the individuals and organizations that want goods and services to use in producing other goods and services is called the:
business to business market
marketers must recognize that different customers perceive the same product, such as coffee as beloning to different
classes of consumer goods
while merchant wholesalers earn a profit from selling goods they own, agents and brokers are paid:
commissions based on a percentage of the sales revenue
pricing based on the pricing activities of other companies in relation to a product
competition based pricing
developing an accurate description of your product and asking people if they like the idea is
concept testing
consumers calculate the value of a product by
considering whether all of the benefits exceed all of the costs
a computer kept at home for personal use is considered ___ good, whereas the same computer purchased for use in a business is conisdered ___ good
consumer and industrial
the investigation of consumer thought processes at each stage in a purchase in order to determine the best way to help the buyer buy is called:
consumer behavior
problem recognition, information search, evaluation of alternativs, purchase decision and post purchase evaluation are the steps in the
consumer decision-making process
the individuals or househouls that want goods and services for personal consumption or use, and have the resources to buy them are part of the:
consumer market
it is wise for marketers to communicate with ____ to learn what is most important to them in a final offering
consumers
a ____ store that sells food and other frequently needed items at convenient locations and may be open all night.
convenience
a product that consumer wants to purchase frequently and with minimum effort is a good or service called
convenience good
which type of marketing directly links consumers to manufacturers and is one of the fastest growing types of retailing
direct
a marketing activity such as telemarketing or catalogs that directly links the manufacturer or intermediares with the ultimate consumers is
direct marketing
a house party where those invited are sold merchandise such as jewelry vacuum cleaners or comestics is an example of the type of nonstore retailing callled
direct selling
tire manufacturers sell ____ to auto manufacturers, but use ____ to sell to ultimate customers
directly, and intermediaries
an increase in outsourcing and alliance building has resulted in ______ that often includes coordinating with companies in other countries
distributed product development
as the ____ slowed, marketers had to adapt offering products that were less expensive and more tailored to consumers with modest incomes
economy
a major retailer sending out a monthly e-mail highlighting its current sales promotion is an example of ____
email promotion
identifying the factors in the environment that affect marketing success is the process called
environmental scanning
an example of fixed cost
factory rent expense and business insurance
which of the following are examples of internal sales promotion in a college setting?
faculty teaching awards
customers in B2B are
few and large
why would denny's risk spending 5 million on advertising during the super bowl
few other media allow advertisers to reach so many people with such an impact
in B2C sales the ____ step is important but is often neglected
follow up
combining multiple modes of transportation to complete a single long-distance movement of freight is known as
intermodal shipping
sales training is an important example of
internal sales promotion
sales training is an important example of:
internal sales promotion
public relations is a good alternative to advertising because:
many new organizations are searching for new stories
in the long run, price is determined by
market
the ___ will ultimately determine the price of goods
market
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offers that have value for customers, lcients and partners at large is called
marketing
the factors that go into a marketing program: product, price, place, and promotion is called
marketing mix
_____ has become more important due to the rise in self-service outlets
packaging
changes or improvements to a product line can sometimes be accomplished through
packaging
a person with the means to buy a product, the authority to buy, and the willingness to listen to a sales message is known as
prospect
dividing the market using a group's, value, attitudes, and interest is ______ segmentation
psychographic
the study of a group's value, attitudes, and interest in order to determine the group's lifestyle is called the
psychographic segmentation
a negative story can circulate against a firms wishes which is considered a disadvantage of ____
publicity
the promotional strategy in which the producer uses wholesaler discounts, personal selling, sales promotion contests, and other promotional tools to convince wholesalers and retailers to stock and sell its merchandise is known as _____ strategy
push
when a salesperson takes the time to make the selected customers actually need the products and have willingness and authority to buy, he is in the _____ step of the selling process
qualifying
an important function of the channel of distribution is to ensure that
quantities and assortments are available where and when needed
a medium that is especially effective at reaching audiences when they have fewer distractions is
radio
which method of transportation carries the largest percentage by volume for all goods shipped withi the US
rail
piggyback shipping combines trucks with:
railroads
nonprofit organizations use marketing in order to:
raise funds to support their cause
B2b marketing strategies also differ from consumer marketing because business buyers have more ____ decision-making processes
rational
business buyers are generally more ____ and less emotional than household consumers
rational
what is the set of values, attitudes, and ways of doing things that results from belonging to a specific ethnic, racial or group called?
subculture
brand _____ means a brand has been linked to other favorable images
association
direct selling differs from direct marketing because it uses personal contact by salespeople to reach consumers
at their homes or businesses
state government will use marketing in order to
attract new business and tourism
the internet is fundamentally changing the way marketers are working with customers. Marketers now want to ____ over time
build relationships with customers
the marketing concept that states that a business must find out what consumers want and provide it for them is called the:
customer orientation
what is the era that extended the marketing concept by learning as much as possible about present customers
customer relationship
a type of software product that helps establish long-term relationships with customers is known as
customer relationships management (CRM)
the least expensive way to ship goods overseas is usually
fishyback
the distribution strategy that places the product in as many retail outlets as possible is
intensive
getting products to consumers when and where they are wanted is critical to market success. Many time is it the responsibility of:
intermediraries
when a firm decides to combine multiple modes of transportation to complete a single long-distance movement of freight, ____ shipping is used
intermodal
a major benefit of using vending machines to reach consumer is
location
interactive video has affected direct marketing by
making it easier for consumers to visualize the product
xerox kodak sony and dell are examples of _____
manufacturers brand name
the 2nd largest surface transportation mode is
motor vehicles
it is unusual for a company to sell
one product
the combination of product lines offered by a manufacturer is
product mix
when a firm offers more than one product line, it is said to be offering a ___
product mix
during the airing of a major sitcom the actors eat a popular cereal for breakfast. This type of advertising is known as
product placement
when marketers use samples, coupons, cents-off deals, display, premiums or rebates as ______ tools, they are promoting to consumers
sales promotion
the process of dividing the total market into groups who members have similar characteristics is market ___
segmentation
a benefits of using ____distribution strategy is that producers are ensured of quality sales and service
selective
a manufacturer of major appliance such as refrigerators is likely to use which distribution strategy
selective
when a rack jobber retains title to the good until they are sold and shares profits within the retailair, the jober is :
selling on consignment
product placement is designed to____
subtly advertise products
the utility added by marketing intermediaries that add value by making products available when theyre needed is ______ utilty
time
what is the type of organization that sells to other businesses, manufacturers, and hospitals who then resell the product or use it in a product or service that is resold?
wholesaler
sales promotion happens both ___ and ____ of the company
within and outside
______ is set of values, attitudes, and ways of doing things passed from one generation to another in a given society
culture
focusing on profit allows an organization to serve and expand to serve _____ wants and needs
customer
the part of the marketing concept that focuses on finding out what consumers want and giving it to them is _____ orientation
customer
another name for the target costing pricing strategy is
demand-based
small businesses are flexible and thus able to gain market share through offering creative options that
differentiate their offerings
____ is a technology that has made TV less attractive to advertisers
digital video recording
the combination of promotional tools of an organization uses is known as the promotion ____
mix
data that you gather yourself to meet a specific need is called _______
primary data
the creation of real or perceived product differences is called
product differentiation
discussions about products on web 2.0 social networking sites like twitter or on company online forums are examples of _____ sales promotion
word-of-mouth
when the author of freakonomics promoted his books by blogging, it was an example of _____ marketing
word-of-mouth
a promotional tool that involves people telling other people about products they've purchased is known as
word-of-mouth promotion
marketing intermediaries who bring buyers and sellers together and help negotiate an exchange without taking title to the goods themselves are;
agents or brokers
a salesperson who calls a potential customer for the first time is in the _____ stage of the selling process
approach
a major reason why many new products fail is that they
are too similar to competitors
grouping two or more products together and pricing them as a unit is
bundling
taking a product idea to consumers to test their reaction
concept testing
the type of distribution system in which intermediaries are independent but agree to cooperate are participating in
contractual distribution system
candy gum milk snacks are examples of
convenience goods
the pricing strategy in use when a firm prices product based on consumer demand is
demand-orientated
what are the two most common methods of segmenting markets
demographics and geographics
a wholesaler who solicits order from retailers and other wholesalers and then arrange to have the merchandise shipped directly from the producer to the buy is
drop shipper
reestablishing the notion of brand ___ is a major goal of future marketers because it strengthens consumer commitment to brand name
equity
in the united states, most but not all companies have evolved by passing through the four ______ of marketing
eras
changes in the us population that creates challenges for marketers are different tastes and preferences of growing ___ groups such as hispanis and asian american
ethnic
shifts in the us population have created new challenges for marketers as they adjust their products to meet the tastes and preference of growing number of ___-
ethnic groups
in customer relationship management, you do everything you can to satisfy customers, or even to ______ their expectations
exceed
the distribution strategy that sends products to only one retail outlet in a given geographic area is
exclusive distribution
supply chain management adds value by increasing efficiencies and coordinating activities from the source of raw materials to completion of the ______
finished goods
regardless of the number of product made, _____ are those expense that remain the same
fixed costs
a small group of people who meet under the direction of a discussion leader to communicate their opinions about a product is a __________ group
focus
a warehouse club is a retailer that sells
food and general merchandise and may require payment of a membership fee to shop there
a manufacturer who assembles the components of a computer for sale is providing which form of utility?
form
in addition to combing small shipments to create cost-effective loads, _____ may also offer customs assistance and warehousing
freight forwarders
a merchant who performs all of the service functions is known as
full service wholesaler
a ___ good is a non-branded product that usually sells at a sizable discount compared to other brands
generic
the value of product is defined as _____ at a _____
good quality and fair price
in marketing automobiles when a company talks about a design created to save on gas and energy, the focus is on promoting the product by emphasizing how ____ it is
green
this personal selling step is described as : countering reasons for not buying the product
handling objections
a dealer brand may also be caleld
house, distributor, and private label
a person responsible for bringing raw materials, packaging, other goods and services and information from suppliers to producers is working the field of _______
inbound logistics
_____ promotion replaces monologue with dialogue, which establishes a more collaborative relationship between buyer and seller
interactive
supply chain management has become very complex, as many firms outsource functions... as a result supply chain management is
interfirm and international
activities or task associated with ___ cannot be elimnated from the process of getting goods to consumers
intermediares
outlets centers offer ___ price which is a good way to create an attractive total product offer, but customers must be careful because not all bargain priced products are high quality goods
low
the goal of a franchise system is to
maintain quality and consistency
many people still think of marketing as selling, marketing, and distribution because in the past
marketing focused on a flow of goods from seller to buyer
organizations that assist in moving goods and services from producers to B2B and from business to consumers B2C are called
marketing intermediaries and middle men
the movement of goods within a warehouse or on the factory floor to specific workstations is
material handling
relative to the product life cycle, because ketchup is a classic product it
may never experience decline
about 80 percent of wholesalers take title to the goods they handle as either full-service or limited-function _____ wholesalers
merchant
the organization thats move good and services between producers and those who use the products and services are called marketing intermediaries or
middlemen
why do local businesses prefer advertising in newspaper, radio and yellow pages?
most local businesses target a small area that can be efficiently reached through local advertising products
the difference between wholesalers and agents and brokers is that
most wholesalers take title to the goods they handle
when a company finds a small but profitable market segment and designs products just for them, the company is engaged in:
niche marketing
small businesses can use nonstore retailing methods such as the internet to:
open new channels of distribution
with marketing research, marketers analyze markets to determine:
opportunities and challenges
the business-to-business market is made of all individuals and _____ that want goods and services for production, sales to other
organizations
the area of logistics that manages the flow of finished products and information to business buyers and ultimate consumers is:
outbound logistics
the ____ phase is a great time to use testimonials showing potential buyers that they are joining leaders in other firms who are using the product
presentation
______ is the strategy by which one or more dominant firms set the pricing practices that all competitors in an industry follow
price leadership
in order to gather additional in-depth information needed for business decisions, marketers must do their own research by gathering:
primary data
telephone surveys, online surveys, mail survey,s and personal interviews are the most common forms of gathering:
primary data
the first step in the consumer decision-making process is _____
problem recognition
auto companies truly seem to be listening to customers who are environmentally concerned by offering more fuel-efficient cars. they are adjusting the ____ factor of the marketing mix
product
when a firm establishes a single ____ and promotional strategy that it can implement worldwide, it is creating a global advertising campaign
product
which step is the new product development process involves estimating costs and sales to get a feel for the new products potential profitability
product analysis
to determine a ____, marketers must carefully monitor their customer base and how products are perceived
product category
the part of the new product development process that requires listening to emplyees, customers and suppliers is generating new
product ideas
the ____ is an illustration of the theoretical movement in sales and profits for a product class over time
product life cycle
a group of products that are physically similar or are intended for a similar market are referred as
product line
the combination of product lines offered by a manufacturer are called
product mix
a theoretical model of what happens to sales and ___ for a product class over time is called _____
profits and product life cycle
the goal of ______ pricing is to make the product appear less expensive than it is by using pricing points such $3.99
psychological pricing
the management function that evaluates public attitudes, changes policies and procedures in response to the public's requests and executes a program of action and information to earn public understanding and acceptance is known as
public relations
a firm does not pay the media costs for _____ and it not identified as the orginator of the message
publicity
suppose you want to introduce your store, VERY VEGATARIAN to consumers but you have little money to promote it. Having a press conference to announce your grand opening could get broadcasters to provide some ___
publicity
consumers going to stores asking for a specific product could be result of a successful ___ strategy
pull
an imporatant advantage of using marketng intermediaries is that is ______ the number of exchanges in the channel of distribution, making it more efficient
reduce
a group that an individual identifies with and that influences beliefs, attitudes, values or behavior
reference group
the trend today is moving from globalism to _____, in the future, marketers will prepare more customer-designed promotions to reach even smaller audiences
regionalism
a radio frequency identification chip is a method of tracking products and is more commonly called
rfid chip
what is the name for the tracking system that uses radio frequencies to track merchandise
rfids
a marketer trying to stimulate consumer purchasing and dealer interest by means of short-term activities is likely to use _____ as an incentive
sales promotion
_____ are designed to supplement personal selling, advertising, public relations, and other promotional efforts by creating enthusiasm for the overall promotional program.
sales promotion program
___ must know the product and competitors products throughly
salesperson
marketers who want to avoid incurring unnecessary expenses when researching data should first gather:
secondary data
the retail distribution strategy that sends products to only a few preferred retailers in the area is:
selective distribution
it is common for ______ goods to be marketed through exclusive magazines and websites
specialty
products that rely on reaching special market segments through advertising are
specialty
knowing what ___ of the product life cycle a product is in helps marketers make intelligent and efficient marketing decisions
stage
the two major forms of warehouse are ____ warehouse used to keep goods for a longer time and ____warehouses where goods are gathered and reshipped more quickly
storage, and distribution
when one belongs to a specific ethnic group which creates a set of values and attitudes, then that person belongs to
subculture
when values, attitudes, and ways of doing things results from belonging to specific ethnic, racial, or other group that one identifies close with, it is termed
subculture
bottled water companies have used branding, pricing and promotion to
successfully differentiate their product offerings
an establishment that sells mostly food and other nonfood products such as cleaning supplies without requiring a membership is called a
supermarket
the first step in planning a promotional campaign is to identify the ____ market
target
__ aims to design a product so that it satisfies customers and meet the profit margins for a company
target costing
selecting which groups or segments an organization can serve profitably is called
target marketing
break even analysis is
the process used to determine profitability at various levels of sale
B2B markets such as oil producers tend to be more geographically concentrated because
the resource is found in only a few locations
when an individual goes to a supermarket and selects a box of cereal from several choices of type brand and size it is an example of
the value of marketing intermediaries who provide and assortment
companies who use organization such as SAP or peoplesoft to manage complex supply chains recognize that they are actually value chains because:
their goal is to provide consumers with the best possible value at the lower cost to the company
a benefit for retailers of an administered distribution system is that
they get a lot of free help
when a firm uses outside companies to move good it is known as
third party logistics
a webstite that is avalable 24/7 provides customers with ____ utlity
time
two major problems with electronic retailing have been that, after the sale, retailers do not provide adequate customer service or time_____
timely delivery
opening bag of chips and seeing air
to protect the goods inside
considering an ipods look and feel, its feature as well as apple's reputation demonstrate a consumer evaluating
total product offer
everything that consumers evaluate when deciding whether to buy something is referred to as the
total product offer
a brand that has exclusive legal protection for both brand name and its design is a
trademark
dividing the market by the amount of a product used is called _______ segmentation
volume
the segmentation technique that divides the market by the amount of a product used is :
volume segmentation
the consumer market consists of 80 million households, but there are fewer ___ in the B2b market of an industry like auto manufacturing
customers
the internet allows customers to gather ____ from competitors websites to compare prices and features for products and services
data
the key first step of the market research process is
defining the questions and determining the present situation
the increase in the number of older adults creates a growth in demand for:
health care
high low pricing requires a firm to set prices that are ___ than everyday low price stores and then have special sales that set price that are ____ than competitors
higher, lower
as consumers have more access to price information from around the world, _____ is likely to increase as people will look beyond the price to total value offered
non price competition
marketers who seek to differentiate their products by promoting attributes such as safety or the brand name are using:
nonprice competition
a leading cause of new-product failure is
not delivering what is promised
gathering testimonials when preparing for a sales presentation can be helpful in overcoming customer _____
objectications
personal selling is the most flexible of the promotional methods because it gives marketers the greatest opportunity to communicate specific information that might answer ___
objection
when answering ____, a salesperson should think of questions as opportunities for creating better relationships rather than challenges
objections
_____ have a direct impact on pricing strategy and should therefore be clearly formulated in the context of the stratetgic marketing plan and rest of the marketing mx
objectives
developing a unique mix of goods and services for each individual customers is:
one to one marketing
one goal of ____ advertising is to get potential customers to a website where they can learn more about the company and its product
online
what store would likely use low price to create an attractive total product offering
outlet or warehouse
an establishment that sells directly from a manufacturer at reduce prices, although some of the merchandise may be flawed or "seconds" is likely
outlet store
kiosk and carts have lower ___ costs, so they are able to offer convenience goods at needed locations at lower prices to retail consumers
overhead
attraction, protection, and description are three of the functions that a ___ must perform
package
the use of UPC codes on their ___ makes products more appealing to retailers, as it helps control inventory
packages
squeezable ketchup bottle make serving this condiment more convienient for consumers and thus, changes the percetion of the product through its ___
packaging
boxes of juice and liquid milk that do not need refrigeration are examples of
packaging that changes a product
a low initial entry price, often lower than the eventual market price, to attract many customers and discourage competition
penetration strategy
why do sales promotions increase during economic crises?
people look more closely for coupons and other promotional deals to save money
the key factors under the psychological influence of decision making are
perceptions, attitudes, and motivation
the face-to-face presentation and promotion of goods and services is known as _____
personal selling
whereas consumer promotions are based on more advertising, B2B sales are based on
personal selling
if you were choosing a means of transportation for oil, the cheapest and most dependable would be by
pipelines
intermediaries may assist with moving product from producers to the consumers. this affects what factor in the marketing mix?
place
the fourth p of marketing, which includes shipping, transportation, storage, logistics and supply-chain management is known as
place or distribution
a supermarket that assembles a variety of goods in a location near your home is providing:
place utility
during ___, a marketing manager should use such criteria as fit with the firm's other products, profit potential and marketability
product screening
the process of ______ helps manufacturers determine whether a product fits well with the present products and has good marketability and profit potential
product screening
businesses cant fill the needs of every consumer group. therefore, a business might decide which groups to serve, and then develop __-__ specially tailored to their needs
products
a marketing strategy with the goal of keeping individual customers over time by offering them product that exactly meet their requirement is _____ marketing
relationship
which form of logistics is being used when a customer sends a product back to the manufacturer becase of defects or have it recycled?
reverse logistics
one fo the fastest growing segments of the us population is people over the age of
65
it takes about ____ ideas to generate one new commercial product
7
the ____ market includes manufactuerers, intermediaries, hospitals, school, charities and government
B2B
when a business purchases the services of a public accounting firm to perform an audit of their financial data they are engaging in the ____ market
B2B
an online diary that looks like a web page but it easier to create and update by posting text, photo, or links to other is known as:
a blog
all of the following are types of sales promotion except:
a customer blogging about a product
distribution of audio and video feeds over the internet to subscribers is known as :
a podcast
a discount store is one that sells
a wide variety of products at prices lower than department stores
what must marketers do if they listen to customers and recognize the changes in markets?
adapt
a university develops a promotional strategy that includes, among many others, advertising in newspaper and over the internet, personal selling through recruiters, and offering all expenses paid trips to visit the campus. What type of marketing technique is the university likely to be engaged in?
integrated marketing communication
the process of coordinating the promotion mix elements and synchronizing promotion as a unified effort is called
integrated marketing communication
psychographic segmentation factors
interests and attitudes
**********
**********
all of following specific to the B2B market except
B2B sales are indirect
in ___ sales, the salesperson does not have to do much prospecting or qualifying
B2C
_____ products to new markets is an ongoing process for marketers wishing to complete succesfully
adapting
a reason why marketing intermediaries such as transport companies and wholesalers have survived is that they
add enough value to products to outweight the added costs
for the buyer, a benefit of purchasing a brand name is that
adds prestige to purchases
a distribution system where producers manage all of the marketing functions at the retail level is;
administered distribution system
retailers get a lot free help with display, inventory control, pricing, and promotion without signing an agreement
administered distribution system
asante is the marketing managers of a fortune 500 company. while planning the next year promotional mix, he dcides to pay for few videos that presents the companys product and place them on the internet as well. asante is planning the next years' ____ campaign
advertising
because it is very expensive, only a small proporation of shipping goes by
air
in B2B company, a brand manager is often responsible for
all the elements of the marketing mix
a brick and click store Is:
an existing retail store that adds online outlets
a salesperson who has anticipated customer doubt about a product and formulated proper responses is ready for the _____ stage of the selling process
answer objections
a name symbol or design that identitfies the goods and services of one seller or group of sellers is
brand
packaging influences ______ by presenting products using the same name, symbol and slogan
brand association
the value of the brand name and associated symbols refers to:
brand equity
marketing intermediaries were once called middlemen because they
assist in moving goods and services from producers to users in B2B and B2C markets
