Intro to Business (Week 13)

In this image, the retailer's brand Great Value is shown next to the well-known brand Kraft. Great Value is an example of:

- A private label brand

A successful IMC campaign could include which of the following items:

- Advertising, Direct marketing, Personal selling, Sales promotions, Digital marketing, Public relations

Which of the following statements is FALSE?

- All products follow a smooth and predictable growth path.

________ are a direct result of past advertising, promotion, product reputation, and customer experience.

- Brand perceptions

This strategy uses a strong brand—typically the company name—as the identifying brand name for a range of products

- Branded house

________ is the difference between how much a good costs and the actual price for which it sells.

- Gross margin

For each ________, new display materials must be prepared, all reflecting common objectives, messages, design, and other elements to maximize the ________ impact.

- IMC campaign, campaign's

Luana has created a jewelry line that she sells at local craft fairs. While there, she was approached by a local merchant who asked if they could purchase and carry her line in their regional gift shops. Luana's product distribution is utilizing these channel partners following these distribution channels:

- Luana has a direct channel costumers as well as a retail channel involving a retail channel partner.

During the ________ of the product life cycle, the growth of a product begins to plateau, and the company must take advantage of economies of scale and marketing messages and promotions that seek to remind customers about a great product, differentiate from competitors, and reinforce brand loyalty.

- Maturity Stage

Which of the following is an example of an unsought product?

- Pest control service

________ are reductions in base price given as the result of a buyer purchasing some predetermined amount of merchandise.

- Quantity discount

Which of the following statement regarding retail channel is CORRECT?

- The retail channel is different from the direct channel in that the retailer doesn't produce the product.

The marketing channel generally focuses on how to increase ________ to the customer by having the right product in the right place at the right price at the moment the customer wants to buy.

- Value

Which of the following statements is TRUE?

- Which of the following statements is TRUE?

Which of the following statements regarding wholesalers is CORRECT?

- Wholesalers fill a role in the promotion of the products that they distribute.

A set of attributes or features (e.g. name, term, design, symbol, reputation, etc.) that distinguishes the goods and services of one seller from another is known as:

- a brand

Branding is an important marketing tool that creates competitive advantage. The following are all attributes and functions of branding EXCEPT:

- a brand is a product

Promotion mix includes:

- advertising, public relations, personal selling, sales promotion, direct marketing, digital marketing, and guerrilla marketing.

Coppertone, originally a suntan lotion brand, now produces sunglasses as well. This is an example of a:

- brand extension

The basic objective of all marketing communication methods is to:

- communicate, compete, and convince

The objective of marketing communication is to communicate, compete, and:

- convince

Which of the following is an example of a warehouse retailer that provides a bare-bones shopping experience at very low prices?

- costco

Integrated marketing communication (IMC) involves bringing together multiple communication tools to deliver a common message and make a desired impact on:

- customers perceptions and behaviors

What is the difference between supply chains and distribution channels?

- distribution channels are a subset of supply chain

Which of the following is the last stage of the new-product development process?

- evaluation

Which of the following is the first stage of the new-product development process?

- generating new product ideas

During the ________ of the PLC, marketers are concerned with increased competition and respond with renewed product differentiation, sharper pricing, and more attention to distribution.

- growth stage

During the ________ of the product life cycle, the company's profitability begins to rise and public awareness increases.

- growth stage

During the ________ of the product life cycle, companies need to devote a significant marketing budget to create broad awareness and educate the public about the new product.

- market introduction stage

How do organizations use IMC to support their marketing strategy?

- marketers create a campaign utilizing multiple communication channels to reach their target consumers with their strategic messaging.

During the new-product development process, marketers work to perfect both product and:

- marketing strategy

You are the product marketing manager for a popular accounting software package. Your product is in the "mature" phase of the PLC, so you would expect:

- more competision

________ is the movement of title through the channel.

- ownership flow

The most significant strength of ________ is its flexibility. Salespeople can tailor their presentations to fit the needs, motives, and behavior of individual customers.

- personal selling

Which of these common marketing communication methods has the biggest advantage regarding customizing the marketing message to a specific target audience?

- personal selling

Which of the following is NOT one of the common pricing objectives?

- product-oriented pricing

The following are included in the framework used to express the concept of distribution channel flow EXCEPT:

- production flow, negotiation flow, ownership flow, information flow, promotion flow

The ________ refers to how marketers combine a range of marketing communication methods to execute their marketing activities.

- promition mix

________ is the flow of persuasive communication in the form of advertising, personal selling, sales promotion, and public relations.

- promotion flow

Wholesalers fulfill many important distribution channel roles including:

- purchasing, warehousing, transportation, and distribution

Jon purchased a bright red Ferrari with his lottery winnings. This car is an example of a(n):

- speacialty product

The ________ looks very similar to the retail channel. It is primarily engaged in buying and usually storing and physically handling goods in large quantities, which are then resold (usually in smaller quantities) to retailers or to industrial or business users.

- wholesale channel

Which of the following is the Price-Value Equation from the customer's perspective?

?

Which of the following statements regarding marketing campaigns is TRUE?

A campaign is a coordinated series of marketing communication efforts built around a single theme designed to reach a particular goal.

Macy's, Nordstrom, Dillards are examples of which type of retailer?

A department stores

Which of the following would be considered convenience products?

Chewing gum and soda

Which of the following statements regarding retailers is CORRECT?

Retail sales occur in stores but also happen online, through catalogs, by automatic vending machines, and in hotels and restaurants.