Final

Vermont, a northeastern U.S. state, currently offers $10,000 a year for people to move there even if they elect to work in another state. What is being marketing here?

A place (correct)

Innovation is a word describing:

A process and/or thing that is new and useful (correct)

The Deontological approach to ethical decision-making in business settings is most closely related to

A recognized set of rules or laws that supposedly govern people's decisions and behaviors in situations featuring ethical dilemmas. (correct)

Mutually-Assured-Destruction (MAD) is based on deterrence theory and was first applied in military strategy but also applies to marketing strategy, particularly marketing strategy related to:

Advertising (correct)

Advertising often can reach large numbers of targeted customers quickly, but drawbacks exist. Which of the following represents a limitation associated with advertising?

Advertising primarily delivers one-way, impersonal messages Consumers often fail to pay attention to advertising messages

The traditional elements of the promotion mix are:

Advertising, personal selling, sales promotion, direct marketing, publicity (correct)

Who said you cannot solve problems using the same sort of thinking that created them?

Albert Einstein (correct)

Good design can signal quality. Great design can solve customer problems. What other benefits does great design provide?

All of the above (correct)

When promoting through any means, one or more of the following communication outcomes is generally desirable:

All of the above. (correInforming customers or prospects. Remind customers or prospects. Persuade customers or prospects. Secure attention of customers or prospects.ct)

Which of the following was not discussed in the book as a typical supply function.

All these supply chain functions were reported in the book (correct)All these supply chain functions were reported in the book (correct)

Which of the following is the best example of a downstream business partner of marketing manufacturers such as Boeing or Airbus?

American Airlines (correct)

MAD is:

An acronym suggesting it was right for the US to keep on building nuclear weapons in the '50s and '60s; just like many marketing firms must keep on advertising. (correct)

Among other things, innovation most prominently refers to:

An overall process whereby inventions are transformed into commercialized products that can be sold profitably (correct)

__________ practices arise whenever marketers from two or more competing organizations knowingly engage in strategic activities aimed at reducing competition.

Anti-competitive (correct)

Advertising is best described as:

Any paid form of non-personal communication about an organization, good, service, or idea by an identified sponsor. (correct)

The best definition of services is ...

Applying specialized competencies by performing deeds and processes in order to benefit service recipients and service providers. (correct)

Why is it appropriate to describe WOM or e-WOM as marketers' "best friend" or "worst enemy"?

Because WOM and eWOM are each potentially viral. Because marketers can never secure forgiveness for their "original sin" (as it relates to what marketers say). Because the recipients of WOM/e-WOM messaging generally know, like, and trust the message sender, which makes the message more impactful.

Constructive criticism leads to more and better new ideas. What is the best reason why this is true?

Because constructive criticism encourages us to more fully reengage with our work (correct)

Blending—inside NPD settings—involves mixing solutions from previously related or unrelated sources together in new ways.

Blending—inside NPD settings—involves mixing solutions from previously related or unrelated sources together in new ways.

The discussion involving male peacocks and their gaudy tails was used to illustrate:

Both answers a and b are correct. (correct)

If a marketing organization partners with many other firms, the organization is said to have a short supply chain featuring many levels. If an organization partners with but few firms, the organization has a long supply chain featuring few levels.

Both statements are false (correct)

IMC is important to contemporary marketers because use of the technique allows them to:

Break through the clutter and noise that characterize modern markets. Provide single, crisp and unified communication packages.

Surrounding oneself, as a path to creativity, entails:

Conscious immersing oneself around interesting people or ideas (correct)

Which statement best describes the true nature of "consumer goods"?

Consumer goods are purchased and used by end-use consumers in order to solve or satisfy their own problems-wants-needs; or to solve or satisfy some other consumers' needs-wants-problems. (correct)

Which of the following statements is true?

Consumers generally over-value certainty and assurance

A smartphone marketer company has developed a new smartphone for entry into its smartphone product line category. The new smartphone features superior voice recognition capability in comparison to previous versions. What kind of innovation is happening?

Continuous (correct)

Consumers typically buy ______________ goods based on variety seeking, impulse, and inertia behaviors.

Convenience (correct)

The sort of consumer goods that individuals purchase without much effort and that are highly available (widely distributed throughout) the marketplace is called a ...

Convenience good (correct)

Most products feature three levels. The "level of product" that most closely represents the basic benefits provided by the product is called the:

Core product (correct)

Which of the following statements about creativity is not true?

Creative people are more difficult to work with because they are so "scientific-like in nature." (correct)

According to CEOs, the most important characteristic to be successful in the contemporary professional workplace is............

Creativity (correct)

In marketing, the word "telling" in Truth-Telling means giving customers full and fully-accurate disclosure of information to the extent that the information is necessary for consumer to make well-informed, well-grounded, and safe purchase decisions; this according to an ethical theory developed in large part by __________.

David Strutton (correct)

__________ are difficult to market because they fail to deliver either immediate satisfaction or long-term benefit. Such morally-challenged products would rarely succeed.

Deficit (correct)

How consumers feel, their sentiments, about their present and future welfare exercises huge macroeconomic effects. Why? The best answer is because:

Demand for business goods is derived from demand for consumer goods (correct)

Ethical rule sets such as the Ten Commandants or the Hammurabi Code—216 Babylonian laws created around 1763 BC—illustrate what type of ethical philosophy?

Deontological (correct)

The concept known as ________ implies that the market demand for industrial/business/governmental goods is directly or indirectly derived from the demand for consumer goods.

Derived demand (correct)

The purpose of media selection is to ensure that the demographic, psychographic, attitudinal, lifestyle, and so forth, characteristics of the medium's viewers, listeners, readers, or visitors align, as closely as possible, with the customer characteristics primarily associated with the specific market segment that the marketer is trying to reach and inform, remind, or persuade—or build or strengthen relationships with.

Description is entirely right (correct)

A critical design decision that almost always must be inside supply chains is whether to ...

Design short or long supply chains (correct)

_________ (ethical implication) provide both immediate satisfaction and long-run benefits to customers.

Desirable (correct)

Determinant differences are (best answer please):

Different and important to customers (correct)

Marketers can establish brand personalities and then use those brands' personalities for purposes of achieving:

Differentiating (correct)

Which type of innovation is most disruptive?

Discontinuous (correct)

Three types of innovations exist. These are:

Discontinuous, dynamically continuous, and continuous innovations (correct)

Which of the following elements are generally considered to not be part of the promotional mix?

Each preceding element is part of the marketing mix (correct)

When communicating, (1) "contagious" information implies that information, once received, will more likely be spread by initial recipients to others. "Stickier information" (2), by contrast, implies that information, once received and processed, is more likely to stick around and be remembered.

Each statement is correct. (correct)

The word invention refers to an overall process whereby innovations are transformed into commercialized products that can be sold profitably. The word innovations refers exclusively to some dimension of uniqueness.

Each statement is false. (correct)

Barriers-to-entry were originally an:

Economic concept describing existing obstacles that prevent new competitors from easily entering new markets.

The reduced manufacturing, distributing, merchandising, and marketing costs that naturally arise on a per unit basis from an increased total output of products and marketing processes is best described by the phrase __________.

Economies of scale. (correct)

Messaging is depicted as a bilateral (two-way) process inside traditional communication models. Inside these models, marketers are expected to ______ messages and consumers are expected to _____ messages.

Encode, Decode (correct)Encode, Decode (correct)Encode, Decode (correct)

In marketing settings, virtually all individuals or organizations can achieve everything they could possibly need, value-wise, in this world simply by concentrating on helping enough other people or organizations get what they want; that is, focusing on solving these others' problems first. This statement, which is true and accurate, most closely reflects the principles of the:

Enlightened Self-Interests (correct)

Demand for services varies across time of day, month, or year. What can service marketers do to ensure that they satisfy demand during these peak demand periods?

Ensuring that sufficient numbers of service providers are available as demand peaks (correct)

The affordable method approach to budgeting advertising expenditures:

Entails spending as much as managers believe or feel they can afford. (correct)

__________ addresses questions about and/or situations involving decisions regarding the right or wrong choice for marketers or B2C/B2B customers to make. The right choice would generally be deemed moral; the wrong choice deemed either as immoral or less moral.

Ethics

Convenience goods are most closely associated with which type of distribution strategy?

Extensive (correct)

Pull generally entails the use of promotional strategies where firms attempt to take their products downstream throughout supply chain levels to the end-use customers.

FALSE

A good or a product is one that has intangible attributes that customers can perceive through their five senses.

FALSE (correct)

Bending—inside NPD settings—entails taking whole things apart and then re-assembling something new and useful from the fragments, as in re-engineering.

FALSE (correct)

Breaking—inside NPD settings—involves taking something and altering a property, aspect, or dimension of the original element or object; as in redesigning.

FALSE (correct)

Invention is best defined as new things that are also useful things, because they solve new or old problems in new ways.

FALSE (correct)

Major pharmaceutical companies almost always only use "push" promotional strategies.

FALSE (correct)

Most successful new product developmental efforts entail the making and processing of substantial changes to existing products.

FALSE (correct)

Pinkwashing, in contrast to greenwashing, is ethical.

FALSE (correct)

The age of shotgun marketing has now, finally, arrived. This statement is:

FALSE (correct)

The best supply chain design is always the one that does the best job of satisfying customer needs at the lowest cost.

FALSE (correct)

The best supply chain is the one that best satisfies customer needs at the highest possible cost. This statement is:

FALSE (correct)

The concept test is conducted to determine whether the proposed product that would emerge if the idea (the concept) can be successfully commercialized through the firm's current or prospective marketing mix.

FALSE (correct)

The metric known as "frequency," when used in an advertising context, measures "how many" consumers within targeted segments are exposed to a message during a specified time frame.

FALSE (correct)

The metric known as "reach," when used inside an advertising context, measures how often consumers within targeted segments are exposed to a message during a specified time frame.

FALSE (correct)

The percentage-of-sales advertising budgeting method is usually not as effective as the objective-and-task-of-sales advertising budgeting method.

FALSE (correct)

The presence of switching costs makes it easier for customers to switch from old to new products.

FALSE (correct)

A marketer's use of __________ suggests to customers that they can avoid some negative experience by purchasing and using a specific branded product or by changing their behavior.

Fear appeals (correct)

The competitive parity approach to advertising budgeting involves:

Following suit with what competitors are spending, advertising-wise. (correct)

As illustrated in your book, how many stages make up the product life cycle concept?

Four (correct)

Because consumers usually do not pay close attention to advertising messages, advertisers strive to reach the same individual more than once. The average number of times a person in the target audience is exposed to a message or advertisement is called:

Frequency (correct)

Sales promotions usually should not be the sole basis for a promotional campaign because:

Gains from sales promotion are often temporary and sales drop off when the deal ends. (correct)

The use of advertising dates back at least as far as:

Gladiatorial contests in Rome (correct)

Concern about the environment has spurred growth in what is called ________ marketing.

Green (correct)

__________ arises when marketers promote or infer that their branded products or organizations themselves are green—as in beneficial to the environment—when they are not.

Greenwashing

The primary objective of supply chains (the absolute best answer) is to:

Help customers obtain the right product or service at the right time in the right place (correct)

Ethics provides a ______ standard for morality than does the law.

Higher (correct)

Which of the following characteristics is not generally considered to represent a strength of advertising:

Highly effective at persuading (correct)

The number of rolls of toilet paper consumed in the Metroplex was discussed in order to illustrate:

How supply chains fulfill consumers' rights. (correct)

The primary reason why most people will act unethically, will cheat, in certain situations is because:

Humans are instinctively selfish. (correct)

The most fundamental source for successful new products is:

Ideas (correct)

Which answer is correct? Positive brand equity can:

Increase the "share of mind" space enjoyed by the branded product. Be used by firms to launch new products more easily. Charge higher prices and not lose market share

Many consumers continually rebuy the same brand but have little or no emotional commitment to the brand. This behavior represents purchasing due to _______.

Inertia (correct)

The promotional mix can be used to:

Inform, persuade, or remind customers or prospects. (correct)

The most important flow that transpires between one partner firm to other partner firms inside supply chains is:

Information flows (correct)

The most important supply chain flow is:

Information flows (correct)Information flows (correct)

Assume that a marketing is seeking to "tell" targeted customers that they have launched a new "XYZ" brand. Which communication goal is that marketer pursuing?

Informing (correct)

__________ is [are] a promotional strategy that seeks to unify all marketing communications modes—advertising, personal selling, sales promotion, social media management, public relations—in order to create unifying brand messages and positioning stories and tell them consistently across all communication media (channels) that are used by any marketer to convey its marketing messages.

Integrated Marketing Communications (correct)

For-profit or not-for-profit organizations (including individuals such as agents) that play fundamental roles in facilitating, promoting, or encouraging B2B relationships between marketing organizations or B2C relationships between marketing organizations and end-use consumers are best described as:

Intermediary firms (correct)

The reason why the best ideas for new products are rarely developed in isolation relates to the value and necessity of:

Intersections (correct)

To become and remain more creative, marketing professionals should establish more __________ in their thought-life. Which is the best fill-in-the-blank answer?

Intersections (correct)

When consumers become brand loyal they are:

Less likely to engage in information search. (correct)

Which statement is least accurate? In contrast to products, services are:

Less variable in quality (correct)

The core power of personal selling, and primary source of its persuasiveness, draws from the opportunity salespeople enjoy to:

Listen to prospects and customers. (correct)

Salutary products deliver:

Little short-term satisfaction but substantial longer-term benefits. (correct)

A polymath is a person who is good at:

Many things (correct)

........ consist of a group (set) of independent (but often interdependent) organizations involved in the process of making products or services available for use by consumers or business organizations.

Marketing channels (correct)

Although the terms marketing channels and supply chains are synonymous in many ways, one key difference remains. That difference is ...

Marketing channels fail to capture the roles played by source firms (correct)

The supply chain function in which buyers and sellers are brought together to execute exhanges is:The supply chain function in which buyers and sellers are brought together to execute exhanges is:

Matching (correct)

Communication is the process of conveying a message to others and requires many elements. Those elements are a source, a(n) __________, a channel of communication, a receiver, and encoding and decoding processes.

Message (correct)

The presence of diversity (i.e., disparate points of view and perspective), faciliates creativity because __________ are naturally generated.

Multiple perspectives Intersections

Decisions about what features and attributes, and thus which benefits of the firm's existing products should be changed, added, deleted, and in what ways, are:

NPD and positioning questions. (correct)

In what ways does successful NPD benefit society?

NPD increases productivity NPD increases economic growth

Many marketers routinely convey negative information when they messaging. Marketers generally follow this tactic because:

Negative messages are usually more contagious than positive messages (correct)

Based on presumed characteristics that should be associated with a good brand name, is "Duncan Hines" a good name for cake mixes? (Assume that you have never heard of the "Duncan Hines" brand before.)

No, because the name suggests nothing about the product. (correct)

__________ entails physical/psychological barriers, distractions, or sources of interference that degrade recipients' willingness or ability to decode messages successfully. On average, __________ levels are louder today than at any point in history.

Noise (correct)

Marketers can choose from at least four budgeting methods when creating advertising budgets. Which budgeting method is most strategic?

Objective and task method (correct)

Many if not most consumers take things, even formerly new and exciting things, for granted after a while. This statement is correct/true. Does this fact represent a threat or opportunity to new product developers, or does it represent something else altogether.

Opportunity (correct)

When Hallmark cards recently introduced a line of 99¢ cards (about half the price of the previously least expensive cards sold by Hallmark), the greeting card marketer was trying to appeal to a mass market that was price sensitive. Hallmark was using a __________ pricing strategy.

Penetration (correct)

Services must be consumed at the point when they are created. Which service trait best underscores the preceding point?

Perishability (correct)

Which promotional element would a firm most likely use during the growth stage of a new product's life cycle when the primary communication goal is to establish or solidify supply chain (i.e., distribution) relationships?

Personal selling (correct)

What three factors must be executed or developed in order to do NPD successfully?

Planning, execution, and creativity (correct)

_________ (ethical implications) deliver immediate satisfaction and consequently are easier to market. Yet __________ may actually injure people who consume them because they often generate radically non-beneficial longer-run consequences.

Pleasing (correct)

A product or brand ____________ is the mental representation of that product or brand in consumers' minds.

Position (correct)

__________, also known as undercutting or dumping, entails pricing products or services at extremely low prices in order to drive weaker competitors out of the market or create cost-based barriers to entry that block new competitive entry.

Predatory pricing (correct)

Predatory pricing occurs when(ever):

Predatory pricing occurs when(ever):

__________ arises when marketers sell the same product in the same quantities at different prices to different customers or groups of customers.

Price discrimination (correct)

Brand equity can also accurately be described as:

Pricing power (correct)

According to leading experts, the______________is the second most important innovation in history (the wheel remains most important).

Printing press (correct)

Anything that can be offered to individuals, market segments, or entire markets for customers' attention, acquisition, use, or consumption that might also satisfy their (i.e., individuals', segments', or markets') wants/needs—or solve their problems is best described as a:

Product (correct)

The strongest and most accurate reason why marketing organizations that want to sustain their revenues should engage in new product development is because:

Products usually pass through a life cycle that culminates in the demise of the product. (correct)

Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that collectively make up a marketing organization's:

Promotional mix. (correct)

When marketers pursue the goals of either reminding, persuading, informing, or building/strengthening relationships they are generally engaged in __________.

Promotions (correct)

Consumers, actually all people, typically hate losing more than they love winning. Which theory best supports this statement?

Prospect theory (correct)

The key underlying principle of this theory or philosophy is that most people hate/fear losing more than they love/crave winning. The consequence of this principle is that too many people refuse to even try in risky situations because they fear the painful prospect of failure. These principles and its consequence are taken from __________.

Prospect theory (correct)

Tangible product can be marketed and differentiated based on their provision of intangible services. Which of the following answers illustrates this possibility?

Providing ten-year, 100,000 mile warranties for autos. Offering free lifetime inspection for autos. Offering free rental car services for up to five days when you purchase an auto from a dealership

This communication tool generally addresses the need to build or sustain good relations (relationships) with various targeted publics that marketing organizations deem critical to their current and future success. The communication tool is called:

Public Relations (correct)

When marketing firms use tools such as special events, lobbying efforts, news releases, or annual reports for communication purposes, they are using:

Public relations (correct)

In advertising contexts, --------- entails purposefully exaggerating benefits, attributes, qualities, and so forth associated with branded products, but doing so in ways that consumers realize is exaggerated.

Puffery

In advertising contexts, --------- entails purposefully exaggerating benefits, attributes, qualities, and so forth associated with branded products, but doing so in ways that consumers realize is exaggerated.

Puffery (correct)

When advertising, it is legal and acceptable to grossly exaggerate the values or benefits associated with a product so long as customers understand the message stretches a point. This exaggeration is called:

Puffery (correct)

Supply chains can create customer value by providing all of the following utilities EXCEPT:

Quality (correct)

Which of the following statements is true?

Quality is best understood as freedom from defects. The presence of quality is directly proportional to the presence of efficiency. Quality products brings quantity ... of sales.

Which of the following "terms" measures "how many" (as in advertising and ears or eyeballs). Which term measures "how often" (again, as in advertising and ears or eyeballs)?

Reach; Frequency (correct)

Which of the following traits or descriptions do professional managers generally seek from their new hires?

Relatively low confidence (correct)

An advertisement for Campbell's soup reads, "We haven't changed that great taste your family's always loved." This advertisement best exemplifies __________ advertising.

Reminder (correct)

__________ is a short-term inducement of value offered to arouse interest in buying a good or service.

Sales promotion (correct)

__________ deliver(s) short-term incentives aimed at encouraging near-term customer purchases of products or services. Near-time, here, would usually involve forty-eight to seventy-two hours. __________ also deliver(s) short-term incentives.

Sales promotions (correct)

__________ - The word __________ suggests that unpleasant or unwelcome experiences sometimes actually generate beneficial longer-term effects. __________ are characterized by low immediate appeal (failing to deliver much short-term satisfaction) while featuring high potential for benefitting customers longer-run.

Salutatory (correct)

What is the best supply chain design? The supply chain that:What is the best supply chain design? The supply chain that:

Satisfies customers' needs at optimal costs. (correct)Satisfies customers' needs at optimal costs. (correct)

Consumerism:

Seeks to expand the rights and power of consumers. (correct)

Intangible products are also known as:

Services (correct)

The development and delivery of __________ involves applying specialized competencies and performing deeds and processes for purposes of benefiting others that also profit the marketer. Benefitting others generally means customers' problems are solved (i.e., their needs are satisfied). There is one absolutely best answer, because this statement always defines this specific word.

Services (correct)

__________ entail(s) the application of specialized proficiencies via the execution of actions and processes for purposes of benefitting other entities (usually customers).

Services delivery (correct)

_____________ goods those for which consumers compare alternative brands against one another or compare the same brands across multiple retail settings prior to making a purchase decision.

Shopping (correct)

When consumers are deliberating whether to purchase __________ they expend considerable effort in an attempt to make the best possible choice. Substantial brand versus brand comparison is likely.

Shopping goods (correct)

When ads grounded in slice of life messaging styles are targeted at men, the ads usually:

Show how the product will help them rise up in some sort of hierarchy. (correct)

Which of the following items are not associated with brand names:

Signs Words Colors Shapes

Most new products are:

Simple additions to or deletions from existing products. (correct)

The personality of the Hallmark Greeting Card brand (i.e., Hallmark's brand personality), is best described as:

Sincere (correct)

Which of the following activities represents a routine (common) supply chain function?

Sorting Negotiating Financing Inventory management

The need to achieve __________ invariably prevails inside supply chains and generally plays out in the form of one marketing organization's ability to perform a given supply chain function more effectively than its partnering firms can perform the function for themselves. In fact the strategic need to exploit the opportunity to __________ is the primary reason supply chains exist.The need to achieve __________ invariably prevails inside supply chains and generally plays out in the form of one marketing organization's ability to perform a given supply chain function more effectively than its partnering firms can perform the function for themselves. In fact the strategic need to exploit the opportunity to __________ is the primary reason supply chains exist.

Specialization (correct)

When consumers decide to purchase __________ they generally don't expend much effort or engage in much brand comparison. Customers have already decided which brand inside the product category is special to them; no need exists to further shop around.

Specialty goods (correct)

Which type of consumer good usually does not feature extensive distribution channels?

Specialty goods (correct)

The presence of boredom facilitates greater creativity inside people's lives. The problem, however, is that too few people let themselves become bored anymore.

Statement one is correct; statement two wrong. Statement one is wrong; statement two correct. None of these answers are correct; because today there is less boredom and boredom negates creativity.

__________ describes the appearance of products, down to their websites, packaging, or the colors that accompany or complement their brands products. In fact, everything that directly or indirectly communicates anything about branded relates to those brands' __________

Style (correct)

The "Concept Test" is most closely affiliated with developing:

Successful new products; it weeds out good ideas from bad. (correct)

............ involves planning, implementing, and controlling the flow and storage of products, services, and related information from the point of origin to the point of consumption, with the end goal of satisfying customer needs............ involves planning, implementing, and controlling the flow and storage of products, services, and related information from the point of origin to the point of consumption, with the end goal of satisfying customer needs

Supply chain management (correct)

Jasmine stops at the supermarket to purchase a package of Oreos and other groceries. Jasmine is the ultimate or final consumer in a pipeline that extends from the producer through intermediaries including the supermarket in which Jasmine shopped. Today, this pipeline is commonly described as a:

Supply chain. (correct)

_________ are groups of independent firms involved in the process of making products or services available for use or consumption by organizations or consumers.

Supply chains (correct)

__________, defined, include upstream (i.e., toward the originating sources of any product, such as cotton fields or dirt) and downstream (i.e., toward retailers and final customers) business partners for all marketing organizations. Choose the best and most contemporary choice from the items listed below.

Supply chains (correct)

The symbols the marketers use to differentiate their brands matter greatly because:

Symbols can say in an instant what words cannot. (correct)

Marketers enjoy the legal rights to use any product message they choose (so long as the product message is not misleading or dishonest or offensive to any particular oppressed group); and use incentives.

TRUE

Absent any exaggeration, supply chain professionals could boast how crucial their role is in satisfying B2B and B2C customers alike, and that supply management is crucial from cradle to grave—or from dirt to dirt.

TRUE (correct)

As compared to products, services are intangible, inseparable (from their point of production and producer); perishable; and variable (in terms of their quality).

TRUE (correct)

Brand equity and brand loyalty, when present, generally allow marketers to raise prices without losing much if any market share.

TRUE (correct)

Brands are not just symbols, they are also psychological constructs.

TRUE (correct)

Brands, regardless of their dominant form (colors, designs, signs, names), exist as symbols.

TRUE (correct)

Invention—the word refers to a dimension of uniqueness—newness related to the form, formulation, or function of something.

TRUE (correct)

It is not only ethical but strategically appropriate to switch to new supply chain partners if other partners can be identified who can perform the function less expensively, more efficently/effectively, or both.

TRUE (correct)

Managing innovation processes successfully is more a matter of subtraction than addition.

TRUE (correct)

Marketers enjoy the legal rights to sell anything (so long as what is being sold does not injure anyone or anything.

TRUE (correct)

Marketing channels are organized collections of independent organizations that interdependently partner in executing distribution processes.

TRUE (correct)

Marketing firms enjoy the right to use incentive schemes. Sometimes these incentives include direct payments to retailers (like grocery stores) in exchange for preferred shelf stage or other special sales or marketing attention.

TRUE (correct)

The best designs are those that are conceived and built to be as simple as possible, easy on the eyes, as well as easy to use.

TRUE (correct)

The marketing of positioning goods often inverts (turns upside down) traditional pricing laws; meaning that higher brand prices often actually increase demand for the branded item.

TRUE (correct)

The power of any person's creativity, once established, rarely if ever fades.

TRUE (correct)

The underlying premise of the marketing mix is highly similar to the underlying premise of enlightened self-interests; that is, helping your own organization or self by concentrating on helping other organizations or individuals solve their own problems.

TRUE (correct)

When marketing new songs, movies, or fashion, the best spot—the sweet spot—for new product developers is new stuff that simultaneously feels fresh and familiar.

TRUE (correct)

The fact that customers usually do not make distinctions between marketing messages is one reason why integrated marketing communications has emerged as such an important promotional device.

TRUE (correct)TRUE (correct)

Creativity never entails creating something from nothing (which is impossible, anyway). Instead, creativity generally entails bending, breaking, or blending. Blending, itself, entails:

Taking previously unrelated or related "somethings" and mixing them together. (correct)

Pinkwashing is an unethical marketing practice. Pinkwashing occurs when marketers promise or imply:

That a portion of the price paid will go to charitable causes when in fact only an extremely small percentage goes to support said charitable causes. (correct)

The ethical guideline known as "doing well [for oneself] by doing good" for others is most consistent with which ethical theory?

The Theory of Enlightened Self-Interests (correct)

What is the most crucial strategic value generated by supply chains?

The ability to achieve specialization (correct)

When setting prices, the price floor is usually defined by ______ of producing and marketing the product.

The average total costs (correct)

The core element inside any advertising message is typically described as the:

The big-idea. (correct)

Which of the following reasons (i.e., factors) is often associated with high rates of new product failure?

The dogs won't eat the dog food. (correct)

Brand equity refers to:

The extent to which customers are willing to pay more for a product or service. (correct)

Two students, Jeff Spicoli and "The Dude," were studying for the third exam in their marketing course. While studying the supply chain chapter, "The Dude" made the following statement: "If it weren't for wholesalers and other supply chain intermediaries, the products we buy would cost a lot less!" After contemplating The Dude's words, Jeff Spicoli replied, "Wait a minute. We learned in class that supply chain intermediaries actually provide different types of utilities for consumers." The Dude's statement refers to:

The highly specialized value that can be created by intermediaries. (correct)

Experts widely criticize marketers for creating false needs and too much materialism in the United States. Is this criticism generally valid?

The jury is out, this one of those gray issues Dr. Strutton kept talking about. (correct)

This test determines whether the firm already possesses or could create an effective strategic marketing plan, an effective marketing plan, and the resources necessary to successfully commercialize the new product. Commercialize means actually bringing—introducing—the NP to market.

The market test (correct)

An individual's possession of certain competencies and skill sets will promote that person's creativity. Which of the following statements does not fit (belong) among those competencies?

The preceding answers all fit, they each belong, among the necessary set of creative competencies. (correct)

Beyond the traditional elements, other parts of the promotional mix include product design, prices, features, colors, packaging, or even the retailer brands (high-end or low-end) that primarily market the brands.

The preceding statement is completely true and accurate. (correct)

This test is conducted to determine whether the prototypical product, as it will be developed, will actually satisfy that customer's want or need (solve the problem) it was intended to satisfy (solve). This test is called:

The product use test (correct)

Which of the following statements are not associated with (or characterize) services?

Their quality (correct)

Innovations must deliver practical or perceptual value that benefits someone; in turn that someone must be willing to give up something of value in order to obtain or use the innovation. For new products to be described as innovations they also must be useful. There are more inventions than innovations.

These statements are all true. (correct)

Which of the following factors usually distinguish creative professionals from other, less creative professionals?

They establish associations and connections between existing and new ideas. (correct)They establish associations and connections between existing and new ideas. (correct)

Which answer is wrong (i.e., does not fit)? The best NP ideas, the ones that do the best job of solving complicated customer problems, are typically:

Unexpectedly brilliant (correct)

__________ are products/brands that few to no customers typically seek out. The implication: some marketer truly must sell them. Life insurance, gym memberships, burial plots ... these sorts of products illustrate the point.

Unsought goods (correct)

When the subject turns to innovation, real, real big-thing innovation, one thing:

Usually leads to another (correct)

Jeremy Bentham (1747-1842) wrote, "The right (ethical) thing to do is that which maximizes utility." Stated differently, inside marketing contexts the right thing to do is the choice that generates the highest overall happiness. These two statements illustrate:Jeremy Bentham (1747-1842) wrote, "The right (ethical) thing to do is that which maximizes utility." Stated differently, inside marketing contexts the right thing to do is the choice that generates the highest overall happiness. These two statements illustrate:

Utilitarian principles (correct)

__________ entails and measures the degree to which one marketing partner, or firm, owns/controls upstream toward "sourcing-from-the-dirt" suppliers or control/own downstream shippers, other intermediaries such as warehouses, or retailers toward end-use B2B customers or B2C consumers.

Vertical integration (correct)

When marketing organizations enjoy opportunities to develop economies of scale, strategic firms should strongly consider developing:

Vertical marketing systems (correct)

Whenever managers are highly motivated by the desire to control how supply chain functions are performed, they should develop ________.

Vertical marketing systems (correct)

__________ entails conspicuous expressions or demonstrations of one's moral values or social superiority. The wealthy might signal their charity; the religious their piety; the environmentally-conscious their green bona fides. Marketers routinely exploit consumers' propensity to __________ -signal.

Virtue-signaling

Which company was the first major retailing marketer to introduce RFID tracking systems to keep track of the exact physicla location of its packages?

Walmart

In certain newly developed clothing items featuring spandex, the spandex itself solves the same customer problems that _________ used to solve. This, according to your book.

Whalebones (correct)

Conventional Marketing Systems exist:

When independent marketing organizations voluntarily agree to collaborate with each other. When independent marketing organizations voluntarily agree to partner with each other. When independent marketing organizations voluntarily agree to provide various distribution-related functions with each other.

Convenience goods are:

Widely available in the marketplace. Purchased without much consumer effort.

Supposedly, two great truths prevail inside marketing. First, the most precious resource in today's noisy, crowded markets is customers' attention. Second, consumers don't just seek utility (usefulness, or pure problem-solving ability) from products they buy; consumers often also seek meaning. Are both these statements actually true?

Yes (correct)

According to experts, what three factors will contribute most to the likelihood that you will succeed professionally?

Your IQ, birth family, and self-control. (correct)