Final Exam

administered vertical marketing system

there is no common ownership, and the dominant member has significant power to impose its ideas and objectives.

Solving Ethical Dilemmas

use an individual moral philosophy, develop and implement a "code of ethics"

advantages of interpersonal

verbal, immediate feedback, credible

PR tools

website, press releases, speeches, corporate identity materials, special events

marketing communications

will those in the market for a personal jet want to get information from TV? know what kind of communication goes with which kind of marketing

direct marketing

with potential customers to obtain an immediate response

positioning strategy

A former advertising campaign for GEICO Insurance used the slogan "So easy, even a caveman could do it" to emphasize the ease of buying insurance on GEICO's website. This campaign was part of GEICO's

straight rebuy

A(n) ________ occurs when the purchasing agent orders additional units of products that have previously been purchased.

focus group

A(n) __________ is a small group of people brought together for an intensive discussion of a topic.

Awareness, Interest, desire, action

AIDA- customer responses to communication efforts

economical, social and environmental

According to one definition, CSR can be described as context-specific actions and policies, taking stakeholders' expectations into account, to achieve what is referred to as the triple bottom line. The triple bottom line includes ________ performance.

target marketing

After identifying various market segments that her company could pursue, Linda evaluated each segment's attractiveness based on size, income, and accessibility. Linda was involved in

primary

After reviewing the existing data on seasonal spending by his company's customers, Marv decided he needed new information collected to address his research questions. Marv will need __________ data to address the questions in his marketing research study.

profit

All of the following terms are generally associated with the definition of corporate social responsibility except

developing brand names that have no preexisting meaning in any known language.

Brands can be extremely valuable domestically, but challenging internationally. Companies can help overcome language difficulties in using brands by

consumers

Business-to-business marketing involves buying and selling goods or services by all of the following except

listening

Companies can find out a lot about customers using sentiment analysis on sites like Facebook and Twitter, or put another way, by

more formal and structured

Compared to the B2C process, the information search and alternative evaluation steps in the B2B process are

control

David is considering the question, "Did our actions have a negative impact on any stakeholder group?" David is addressing marketing ethical issues in the ________ phase of the strategic marketing planning process.

wholesaler

Donna works for a firm that buys products directly from the manufacturer and resells them to retailers, who then sell the products to consumers. Donna works for a

the type of research

During the research design step of the marketing research process, researchers identify the type of data needed and

short

Fashion trends tend to experience ______ product life cycles.

star

Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managing. He knows that even with its recent high rate of growth and the fact that it dominates its market, he would need more money to establish it firmly. Using the BCG portfolio analysis, his product would be classified as a(n)

exporting goods

Global expansion often begins with

reduce costs

Global marketers are under constant pressure to simplify distribution channels in order to

evaluate performance

Greg sees that his company's quarterly sales and profits are significantly above projections and says, "That's great. Let's keep doing what we've been doing." Greg is ignoring the ________ step of the marketing planning process.

it can purchase coffee beans from suppliers who pay coffee growers a fair price

How might Starbucks ensure that it behaves in a socially responsible way toward members of its supply chain?

Why consider marketing ethics

Marketing is meeting needs and wants while making the world a better place.

observation

Mattel wanted to determine if a new toy would appeal to preschoolers, so it put six 4-year-olds in a room with several toys and waited to see which ones they played with. What form of research is this?

can change consumer preferences

Pioneer or breakthrough products

it's often impossible to know exactly where a product is at in a product life cycle

The CEO of Dave's firm just came back from a business seminar. He called Dave into his office and stated, "I just found out about the product life cycle curve in a strategy seminar. This is a great tool. I want you to drop whatever you're doing and inventory all of our products to determine exactly where they are in the product life cycle." Dave needs to think fast for a good answer because he knows that

may not use the exact sequence every time

The marketing research process follows five steps, and researchers

sales-oriented

The prevailing marketing strategy of the ________ era was to find customers for inventories that went unsold.

resellers

Unlike manufacturers, ________ buy products from other businesses but do not significantly alter the form of the products they buy before selling them.

product

When Ford Motor Company decided to sell the Fiesta—in the same form and design—around the globe, instead of selling different versions in different countries, this was part of Ford's global ________ strategy

coercive power

When Walmart threatens to punish or punishes the other channel member for not undertaking certain tasks, such as if it were to delay payment for a late delivery, this is an example of

Production-oriented

When a T-shirt manufacturer states, "We sell it only in black because that way we can buy plenty of black fabric and run our plant efficiently," its statement reflects the views that were popular in which era of the evolution of marketing?

a sustainable competitive advantage

When a pharmaceutical company develops a new medication, it typically applies for a patent in order to prevent competitors from developing copycat products for several years. Pharmaceutical companies apply for patents to establish

infastructure

When considering global marketing opportunities in Bangladesh, Thomas asked the question, "How will we get it there?" Thomas is concerned about ________ capabilities in Bangladesh.

innovator

Whenever Andy considers upgrading his personal computer system, he consults with Jeremy, a knowledgeable friend who always has the newest technology. For Andy, Jeremy is a(n) __________ in the diffusion of innovation curve.

ethically and socially responsible

Which of the following descriptions embodies conscious marketing principles?

audio

Which of the following would be considered informational content on a website?

place

________ represents all the activities necessary to get the product to the right customer when that customer wants it.

trade-oriented sales promotion

a promotion targeted at re-sellers and organizational customers to persuade "trade" to carry a brand, improve brand's shelf space, part of a push strategy, promote product to final consumers

sales promotion

activities that provide a short-term incentive to buy by improving customers' perceptions of value

promotion

attempts by an organization to communicate with its customers, suppliers and publics

specific communication goals

awareness, knowledge, liking, preferences, conviction, purchase, repeat purchase, brand loyalty

public relations

communication designed to build and maintain a favorable image for an organization, maintain the good will of its publics and explain its goals and purposes

interpersonal

direct communication

price adjustment tactics

discounts (money off) and allowances (customer perform task)

paradox of marketing communication

due to efficiency issues, marketers typically communicate via less effective means

sales force performs many functions

information provision and gathering

push strategy

interpersonal communication at each stage

disadvantages of personal selling

limited reach, expensive, less management control

role of sales force

links firm to customers, develop and maintain relationships

pull strategy

manufacturer promotes to final consumer

advertising components

message, execution, appeal, media

personal selling

process whereby a seller ascertains, activates and meets a customer's needs and wants to the mutual benefit of both the buyer and seller

selling process

prospecting, qualifying, approaching, presenting/demonstrating, handling objections, closing, following up

mass

send a message to multiple receivers

communication

sharing of ideas and thoughts between two or more parties

advantages of personal selling

tailoring messages, receive and react to immediate feedback, flexibility of message, closure

Marketing

the activity, set of institutions and process for creating, capturing, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and societies at large

cash cows

In BCG portfolio analysis, products in low-growth markets that have received heavy investment and now have excess funds available to support other products are called

buying center

In most large organizations, several people are responsible for making a purchase decision. This group is called the

connected

Individuals achieve the _____________ effect when they check in, post a picture to Instagram, upload a video to YouTube, or share a link to an article they have liked on Facebook.

Experience

It is not unusual to see firms offering free product samples in grocery stores to let customers try the product before buying it. Similarly, in today's world of digital marketing, one can read a chapter of a book before buying it, or watch YouTube videos on different ways to use a product. All of these scenarios are aimed at which aspect of the 4E framework?

divide the market into subgroups

Larry is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to

a social media presence

Manufacturers, retailers, and service providers have created and maintain websites, blogs, and _________to enable customers to interact with them over the Internet.

test marketing

Many restaurants roll out new ideas first in Orlando, Florida, a location that attracts a vast range of diverse tourists and thus might offer insights into what various consumer groups will like. This is an example of