Marketing

the new-product planning process

A company generates ideas, evaluates them, weeds out poor ones, gets consumer feedback, devises the product, tests it, and brings it to the market

franchise

A set business format, the use of an established name, strict operating controls, and motivated owner-operators are major characteristics of which form of retail institution

In which stage of the selling process does a salesperson attempt to get the customer to agree to make a purchase?

Closing the sale

bests illustrates a major innovation

Items not previously sold by any firm

Laggards

Last group people to buy a product

Which of these reflects the major consumer appeal of a conventional supermarket?

One-stop grocery shopping

When a firm seeks to ship out 95 percent of its orders within five hours of receipt, it is involved with...

a distribution standard

inventory management

a major distribution planning function

No independent intermediaries are used in which type of distribution channel?

direct

A firm can reduce interfunctional area conflict through..

forming multifunctional task forces, committees, and management development programs

The best example of a good quantitative marketing objective is to...

increase awareness of the firm by 25 percent on the basis of an accepted measure of awareness

Past customers are relied upon for referrals in...

lead prospecting

Channel length refers to the...

levels of independent members along a distribution channel

Organizational mission refers to a firm's...

long-term commitment to a type of business and a place in the market

A new product is expected to have an average repurchase rate of 4 months. A test market is scheduled for 2 months. A problem with this test market situation may be that...

only initial purchase rates and not repurchase rates can be studied

A major difference between direct marketing and direct selling is that direct selling involves...

personal contact with customers

Vertical integration enables a firm to...

shorten its distribution channel

A firm evaluates marketing opportunities and potential problems relative to external opportunities and threats in which stage of the strategic planning process?

situation analysis

concept testing

stage of the new-product planning process is the consumer presented with a description or picture of a proposed product and then asked to evaluate his/her purchase intentions or to express his/her attitudes

The sales technique that adapts a sales presentation to each customer based on his/her characteristics and wants is known as...

the need-satisfaction approach

The information flow in top-down planning comes from...

Senior Managers

Logistics

The broad range of activities concerned with efficiently delivering raw materials, parts, semi-finished items, and finished products to designated places, at designated times, and in proper condition constitute

retail store strategy mix

The integrated combination of hours, location, assortment, service, advertising, prices, and other factors retailers employ

order lead time

The period from the date of an order until the date items are ready to sell or use

Impulse sales

The training of store personnel in suggestion selling, and placement of selected merchandise in high-traffic locations are used to improve...