marketing final

Which of the following is owned by the producer?

Sales offices

ACME Corp. and Spacely Inc. are engaged in intense price competition in order to boost market share of their widgets. This is best described as _______.

a price war

When a product's target market consists of millions of customers, organizations tend to rely on _______ and _______.

advertising; sales promotion

To compete effectively on a price basis, a firm should _______.

be the low-cost seller of the product

In the communication process, the _______ is the individual, group, or organization that decodes a coded message.

receiver

Price is a key element in the marketing mix because it relates directly to the generation of total _______.

revenue

The group of people at whom advertisements are aimed is called the _______.

target audience

Josh, who has an engineering degree, gives practical assistance to ACME Corp.'s current customers, advising them on product characteristics and applications, system designs, and installation procedures. Josh is best described as a(n) _______.

technical salesperson

Supply chain management should begin with a focus on _______.

the customer

Hulu enables consumers to watch select TV shows whenever they want instead of when they are broadcast. This illustrates _______.

time utility

Phydeaux and Friends is an independent retailer that carries deep product lines of pet supplies. This small, locally owned store is best classified as a(n) _______.

traditional specialty retailer

Small, standardized, routinely purchased items are best suited for distribution through _______.

vending

Which of the following is calculated by dividing the variable costs by the number of units produced?

Average variable cost

Buyers recognize the existence of a new product during which of the following stages of the product adoption process?

Awareness

Which of the following is the strongest and most desired by marketers?

Brand insistence

Which of the following is the point at which the costs of producing a product equals the revenue made from selling the product?

Breakeven point

Which of the following is a major advantage of nonprice competition?

Building customer loyalty toward the brand

In the case that a preferred brand is not available, which of the following consumer product types will a shopper be most likely to choose a substitute brand?

Convenience

Which of the following shows the quantity of products a firm expects to sell at various prices if other factors remain constant?

Demand curve

Which of the following are viewed as "in the know" by many product adopters?

Early adopters

Which of the following is NOT one of the factors that influence the assessment of value?

Elasticity of demand

Which of the following support personnel or take orders, follow up on deliveries, and provide technical information?

Inside salespeople

Which of the following levels of market coverage is most appropriate for products that have a high replacement rate, require almost no service, and are bought based on price cues?

Intensive distribution

Dell Computer and Harley Davidson are well known for their use of the just-in time (JIT) approach. To which of the following physical distribution activities does the JIT approach belong?

Inventory management

Which of the following appropriation techniques is most logical?

Objective-and-task approach

_______ is/are a rapidly-growing segment that most retailers now view as vital to their businesses.

Online retailing

Which of the following involves the processes to obtain resources to create value through sourcing, purchasing, and recycling including materials and information?

Procurement

When you buy a new backpack from LLBean.com, which of the following consumer marketing channels are you using?

Producer to consumer

Which of the following business marketing channels is most likely to be used?

Producer to customer

Which of the following is the total group of products that an organization makes available to customers?

Product mix

Which of the following has become important due to the increasing fragmentation of television viewers who have ever-expanding viewing options and technology that can screen advertisements?

Product placement

Which of the following is NOT one of the criticisms of promotion cited in your text?

Promotion lowers prices

Which of the following is a broad set of communication efforts used to create and maintain favorable relationships between an organization and its stakeholders?

Public relations

Which of the following levels of market coverage is desirable when a special effort, such as customer service from a channel member, is important to customers?

Selective distribution

Which of the following is a website (or app) where users can create a profile and interact with other users, post information, and engage in other forms of web-based communication?

Social network

Which of the following integrates the functions of operations management, logistics management, procurement, and marketing channel management so that products are produced and distributed in the right quantities, to the right locations, and at the right times?

Supply chain management

Which of the following product elements derives from customers' involvement with the product, which may convey additional value to many products (and brands) for buyers?

Symbolic or experiential benefits

Which of the following is NOT a public relations tool?

TV commercial

Which of the following is NOT a way that consumers rationalize pirating software, video games, and movies online?

They worry about getting arrested

Which of the following have special expertise in core physical distribution activities such as warehousing, transportation, inventory management, and information technology and can often perform these activities more efficiently?

Third-party logistics firms

Which of the following are likely to restock shelves, obtain more shelf space, set up displays, provide in-store demonstrations, and distribute samples to store customers?

Trade salespeople

Which of the following is one of the biggest mistakes a marketer can make when engaging in digital marketing

Treating it like a traditional marketing channel

Free samples can help move consumers into which of the following?

Trial

Maria is concerned about both price and quality of a product. Marketers would best describe her as which of the following?

Value-conscious

ACME Corp. is developing a software program that can run on mobile devices so that customers can interact with the firm, view product information, and see the status of an order. This is best described as a(n) _______

app

When Malcolm Reynolds walks into his local H&M store, he gets a message on his smartphone announcing that T-shirts in the store are 25% off today. This illustrates the use of _______.

beacons

ACME Corp. is running a sales promotion in which it offers to give retailers $1 for each case of widgets purchased during the promotion. This best describes _______.

buying allowance

The limit on the volume of information a communications channel can handle effectively is known as _______.

channel capacity

The key to success in retailing is to have a strong _______ with a retail strategy that provides the level of service, product quality, and innovation that consumers desire.

customer focus

A major goal of integrated marketing communications is to send a consistent message to _______.

customers

Some types of promotion—such as free samples, coupons, test drives, or limited free-use offers, contests, and games—are employed to _______.

encourage product trial

In any one large metropolitan area, there is usually just one Ferrari luxury sports car dealer. This best illustrates _______.

exclusive distribution

Urban Outfitters is coordinating promotion and other marketing efforts to ensure maximum informational and persuasive impact on customers. This is best described as _______.

integrated marketing communications

A price developed in the buyer's mind through experience with the product is a(n) _______.

internal reference price

Relationship selling differs from traditional personal selling due to its adoption of a(n) _______.

long-term perspective

If promotion is used to successfully stimulate demand, the producer should be able to produce and market products in larger quantities and thus reduce per-unit production research and development, overhead, and marketing costs, which can result in _______.

lower prices

The use of a variety of marketing channels to ensure maximum distribution is best called _______.

multichannel distribution

When retailers use multiple distribution channels to complement their stores with catalogs, apps, or websites, they are using _______.

multichannel retailing

Digital advertising that matches the appearance and purpose of the content in which it is embedded is called _______.

native advertising

Word-of-mouth communication is most effective for _______ and _______.

new-to-market products; expensive products

Any attempt to conduct dishonest activities online would be described as _______.

online fraud

Huy Fong Foods is buying peppers and vinegar to make its iconic Sriracha sauce. For Huy Fong Foods, these are best described as _______.

process materials

A _______ is a specific version of a product, while a _______ is a group of closely related products that are considered to be a group because of marketing, technical, or end-use considerations.

product item; product line

Salespeople from ACME Corp. are searching for potential customers from company sales records, trade shows, commercial databases, newspaper announcements, public records, telephone directories, trade association directories, and many other sources. This is best described as _______.

prospecting

Anjali Ravi and Sofia Similpa are starting a business where they own and stock display racks in supermarkets, discount, and drugstores with current magazines. Ravi and Similpa's business would best be described as

rack jobbers

Toastie's restaurant is developing a frequent-user program that asks customers to input their phone number each time they order and then rewards them with free drinks or chips after they have spent $50 at the restaurant. This best illustrates the promotional objective of _______.

retain loyal customers

Sales force objectives for the entire force are normally stated in terms of all of the following, except _______.

sales territory

When a product's packaging can be reused for an additional purpose, this is best described as _______.

secondary-use packaging

One of the most important benefits of e-marketing is the ability of marketers and customers to _______

share information

Any product making a nutritional claim must have _______.

standardized nutrition labeling

Leonard is a salesperson for ACME Motors. He always tries to shake hands with potential new customers and to "seal the deal" when they sign a sales contract. In personal selling, handshaking is an example of _______.

tactile communication

At ACME Corp., managers are using a strategy of trying to get consumers to share the firm's message via a quirky online YouTube video in a way that spreads dramatically and quickly. This is best described as _______.

viral marketing

When a company offers many product lines, it can be said to have a _______.

wide product mix

Personal, informal exchanges of communication that customers share with one another about products, brands, and companies are best described as _______.

word-of-mouth communication

Which of the following is NOT one of the developers of an advertising campaign?

An accounting firm

Spacely Inc.'s sprockets have inelastic demand. If Spacely raises the price of sprockets, what will be the result?

An increase in total revenue

Which personal selling process step may involve calling on customers without prior consent?

Approach

ACME Corp. offers a price discount to encourage prompt payment. Which of the following is it likely to use?

Cash discount

Maria receives a fixed salary plus a commission based on sales volume after she sells $20,000 worth of merchandise for her company. Which of the following best describes her compensation?

Combination compensation plan

Which of the following contrasts the promoted brand with one or more identified competing brands on the basis of one or more product characteristics?

Comparative advertising

Which of the following is NOT a factor affecting the routing and scheduling of sales calls?

Compensation method

Which of the following is the most widely used sales promotion technique?

Coupons

The Federal Trade Commission (FTC) is investigating ACME Corp. for using misleading price tags at its outlet stores to deceive customers into believing they are getting a bargain on Wile E. branded items. Which of the following does the FTC believe ACME is guilty of?

Deceptive pricing

Sales fall rapidly during which of the following?

Decline stage

Which of the following is NOT a form of direct marketing?

Direct selling

Which of the following is the most expensive form of retailing?

Direct selling

Which of the following does not take possession of the merchandise?

Drop shippers

Which of the following refers to the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing?

Electronic marketing

Page visits, reach, and CPM (cost per thousand exposures) are all examples of what type of social media metric?

Exposure

Which of the following is a fraction of the size of conventional discount stores and typically offer very low prices on smaller size name-brand nonperishable household items?

Extreme-value stores

ACME Corp. has decided that all of its products' packages should be similar. ACME is using which of the following?

Family packaging

Which of the following is NOT an advantage of franchising?

Franchisees must pay to use the franchisor's name, products, and assistance.

Which of the following is the most expensive sales promotion method?

Free samples

Which of the following perform the widest range of wholesaling functions?

Full-service wholesalers

During which of the product life cycle stages do sales rise rapidly?

Growth

_______ satisfy/satisfies an increasing expectation among consumers to have multiple channels available to obtain the goods and services they desire at their convenience.

Online retailing

Which of the following is the most important with business-to-business transactions involving the purchase of expensive products?

Personal selling

Which of the promotion methods is the most precise?

Personal selling

Which of the following focuses on a product category rather than a specific brand?

Pioneer advertising

Which of the following is used by retailers or wholesalers to develop more efficient promotion, generate higher gross margins, and change store image?

Private distributor brands

Which of the following uses tools such as annual reports, brochures, event sponsorship, and sponsorship of socially responsible programs?

Public relations

Which of the following is used to assess an organization's image among the public or to evaluate the effect of a specific public relations program?

Public relations audit

The internet is viewed as a _______ medium because users determine which material they are going to view

Pull

Which of the following trade sales promotion methods is appropriate when personal selling is an important part of the marketing effort?

Push money

ACME Corp. has a promotion strategy that involves promoting its widgets through personal selling and sales promotion to the wholesalers that handle its products. Which channel promotion policy is ACME using?

Push policy

ACME Corp. is evaluating the effectiveness of a recent campaign by showing selected consumers the actual advertisement and asking whether they recognize it. ACME is probably using which method to evaluate its campaign?

Recognition test

Which of the following involves identifying an unserved or underserved market segment and reaching it through a strategy that distinguishes the retailer from others in the minds of customers in the market segment?

Retail positioning

Which of the following involves the salesperson joining with people from the firm's financial, engineering, and other functional areas?

Team selling

Which of the following is NOT a typical function of packaging?

To prevent efficient handling of the product

Suppliers may use _______ to get rid of slow-moving inventory, while a franchiser may use them to maintain quality control and protect the franchiser's reputation

Tying agreements

Which of the following charges the same price to all customers regardless of geographic location, and the price is based on average shipping costs for all customers?

Uniform geographic pricing

Which of the following are purchased when a sudden problem must be solved, products of which customers are unaware of until they see them in a store or online, and products that people do not plan on purchasing?

Unsought products

The Double-A of American Airlines, the peacock of NBC, and the apple with a missing bite of Apple are examples of a _______.

brand mark

To boost sales, ACME Corp. launched a sales promotion effort that required individuals to compete for a free iPad by collecting stickers on the inside of packaging of ACME widgets. This best describes a _______.

consumer game

Two trends have elevated the importance of consumer-generated information: (1) The growing tendency of consumers to publish their own thoughts, opinions, reviews, and product discussions; and (2) _______

consumers' tendencies to trust other consumers over corporations

The most popular type of vertical marketing system is the _______.

contractual VMS

ACME Corp. is using all digital media, including the internet and mobile and interactive channels, to develop communication and exchanges with customers. This is best described as _______

digital marketing

Sales promotion can increase sales by providing _______.

extra purchasing incentives

A company's rental of production space is an example of a _______.

fixed cost

Hallmark is using a strategy of running advertisements for set periods of time, alternating with periods in which no ads run. This is best described as _______.

flighting

When a producer, wholesaler, or retailer has the ability to influence another channel member's goal achievement, it _______.

has channel power

The most critical copy in an advertisement is the _______.

headline

If PetSmart began to acquire very successful local pet stores, this would be an example of _______.

horizontal integration

The Red Cross raises money to help people survive natural and manmade disasters. Red Cross can best be described as a(n) _______.

idea

To prevent unfavorable public relations or at least lessen its effect, the first thing a firm should do is _______.

implement safety programs, inspections, training, and effective quality control procedures

One of the most significant privacy issues relates to marketers' use of _______

personal information

If a company's promotional budget is extremely limited, the firm is likely to rely on _______.

personal selling

The "bricks-and-clicks" model involves maintaining _______

physical stores and an online shopping site

Whenever ACME Corp. introduces a new product, it sends out a single page with typewritten copy containing fewer than 300 words and describing a company event or product called a(n) _______ and a photograph with a brief description explaining its contents, called a(n) _______.

press release; captioned photograph

Which of the following is NOT true about digital marketing as a new distribution channel?

It increases inefficiencies throughout the marketing channel.

Before creating a social media advertising campaign, Sarah embeds quantitative and qualitative metrics at the onset of her strategy that can allow almost real-time measurement and evaluation. What are these metrics called?

Key Performance Indicators (KPIs)

Which of the following is closely related to packaging and is used to identify, promote, inform, and address legal requirements?

Labeling

During which step in the personal selling process is listening especially important?

Making the presentation

Which of the following trade sales promotion methods is best suited to high-volume, high-profit, easily handled products?

Merchandise allowance

Which of the following is NOT one of the four elements of the promotion mix?

New introductory promotion

Which of the following is appropriate for stimulating primary demand?

New introductory promotion

Which of the following publicity-based public relations tool is most common?

News release

Which of the following pass on to a business customer the cost savings gained through economies of scale?

Quantity discounts

Which of the following provides time utility by enabling firms to compensate for dissimilar production and consumption rates?

Warehousing

Which of the following types is NOT an example of noise in the communication channel?

When a source uses an emoji that are understood by the receiver

ACME Corp.'s widgets have elastic demand. If ACME raises the price of widgets, what will be the result?

A decrease in total revenue

Which of the following is characterized by intense competition?

Maturity

Which of the following is often favored by intermediaries?

Restricted sales territories

All of the following are general-merchandise retailers, except _______.

category killers