Marketing Final Pearson Warm ups

_______ are the main forms of direct and digital marketing.

Traditional direct marketing tools and new digital marketing

According to the text, what is one of the biggest advantages of social media?

engagement and social sharing capabilities

The major functions of marketing logistics are

warehousing, inventory management, transportation, and logistics information management

Which of the following is NOT one of the forces in a​ company's macroenvironment that shape opportunities and pose threats to the​ company?

Competitive forces

What are the four steps to designing marketing channels in the correct order?

Analyzing consumer needs, setting channel objectives, identifying major channel alternatives, and evaluating the alternatives

Which of the following enhances how marketers learn about and interact with customers?

Big data and marketing analytics

Which of the following is included in a broad definition of​ marketing?

Creating customer value, building customer relationships, and engaging customers

___________ permits companies to tailor offers And content needs an interest of carefully define segments, which in turn helps develop long lasting customer relationships as well as resulting in immediate responses.

Direct marketing

Which of the following statements is true regarding the selection of qualified channel members?

Producers very in their ability to attract qualified marketing intermediaries

marketers must consider external considerations in establishing pricing. Which of the following represents those external considerations?

The nature of the market and demand and other environmental factors

A company's pricing strategy is affected by internal factors such as

overall marketing strategy, objectives, marketing mix, and other organizational considerations

Most companies today see their intermediaries as the first line customers and focus on ____________ to forge a long-term relationships with channel members.

partner relationship manager

Which of the following statements regarding the marketing of international products and services is correct?

because markets and consumers around the world differ widely, companies must usually adapt their product offerings in different world markets.

The environment that consists of institutions and forces that affect a society's values, perceptions, preferences, and behaviors is the _____________.

cultural environment

marketers use three major pricing strategies:

customer value-based pricing, cost based pricing, and competition based pricing

The totality of a company's product lines and items offered to a customer is known as its _______.

product mix

How do companies apply pricing strategies to accommodate differences in customer segments and situations?

they apply a variety of price adjustment strategies

which of the following is true regarding new types of channel organizations?

they provide stronger leadership and improve performance

when designing marketing channels, companies must determine the number of channel members to use at each level. The three strategies that are available to do this are _________distribution.

intensive, exclusive, and selective

According to the text, what is perhaps the toughest public policy issue now confronting the direct marketing industry?

invasion of privacy

________ are the two ways firms can obtain new products.

acquisitions and new product development

Which of the following statements is true regarding channel organization?

Channel members are dependent on each other for the overall success of the channel

Which of the following statements regarding traditional direct marketing forms is correct?

Marketers use both outbound and inbound telemarketing

Which stage of the product life cycle normally last longer than the previous stages and poses strong challenges to marketing management?

Maturity

Which of the following correctly identifies the five core customer and marketplace​ concepts?

Needs, wants, and demands; market offerings; value and satisfaction; exchanges and relationships; and markets

Marketers must make important decisions when developing individual products and services. Which of the following correctly identifies those important decisions?

Product attributes, branding, packaging, labeling, and product support services

To design a winning marketing​ strategy, what are the two important questions a marketing manager must​ answer?

What customers will we serve? How can we serve these customers best?

Which of the following terms correctly describes the positive differential effect that knowing the brand name has on customer response to the product or the service?

brand equity

when companies treat customers fairly and make certain they understand pricing and pricing terms, this leads to _________.

building strong and lasting customer relationships

intermediaries are used by most producers to bring products to market. These intermediaries are known as __________.

marketing channels

The first step of the marketing process is to​ ___________________.

understand the marketplace, which includes customer needs and wants

Which of the following correctly describes the classifications into which products and services fall?

Consumer products and industrial products

Which of the following is NOT one of the components of a company's microenvironment?

Cultural forces

Which of the following consists of factors affecting buying power and patterns?

The economic environment

A company rarely gets 100 percent of a customer's purchases for a product category. The share it does get of the customer's purchasing in its product categories is called ___________.

Share of customer

Which of the following is an important trend in the natural environment of which marketers should be aware?

Shortages of raw materials

What are the two keys to building lasting customer relationships?

Superior customer value and satisfaction

Which of the following environments demonstrates a changing age structure, shifting family profiles, geographic population shifts, a better educated and more white collar population, and increasing diversity?

The demographic environment

Which marketing management orientation holds that a firm should have a customer focus to achieve sales and​ profits?

The marketing concept

All products have a lifecycle. The sales of a typical product follow ____________, which is made up of five stages

an S - shaped curve

Price ceilings are set by customer perception. Which of the following sets the floor for the price that a company charges?

costs

When marketers create services marketing strategy, they understand they must execute on external marketing but also develop _____________.

internal strategies to motivate employees and interactive marketing to create service delivery skills among service providers

Which form of direct and digital marketing do companies use to engage customers anywhere, anytime during the buying and relationship building processes?

mobile marketing

Which of the following is a benefit of direct and digital marketing for buyers?

sense of brand engagement and community

Which of the following is correct regarding most firms direct marketing efforts?

traditional tools are still heavily used and very important

Companies have to think carefully when considering price changes. They must consider which of the following?

buyer and competitor reactions

The key to learn about and engage with individual customers is to blend the new digital technologies and approaches with traditional marketing to create ______________.

a smoothly integrated marketing strategy and mix

When Microsoft or Apple sell software as a package, it is engaging in what type of pricing?

product bundle pricing

Which of the following is the correct definitions of a product?

A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need

Which of the following represent market​ offerings?

Products, services, information, and experiences

At which step does a company perform a review of the sales, cost, and profit projections for a new product to determine whether the new product is likely to satisfy objectives?

business analysis

New product development consists of eight sequential steps. Which step reduces the number of ideas based on the company's criteria?

idea screening

which of the following pricing strategies would a company use to attract a large number of buyers quickly and win a large market share?

market penetration pricing

A company such a high price on a new product and introduces to maximize revenue from various market segments. Which new product pricing strategy is the company using?

market skimming pricing

Changes in the ___________ have focused greater emphasis on ethics and socially responsible actions.

political and social environment

of the following, which is the core element of our free market economy?

price competition

Services are characterized by four key aspects: _______________.

services are intangible, inseparable, variable, and perishable

According to the text, ________ are perhaps the most dramatic forces affecting today's marketing strategies.

technological forces

Which of the following has changed customers notions of convenience, speed, price, product information, service, and brand interactions?

the digital age

____________ is the digital version of word-of-mouth marketing and the type of marketing in which marketers usually have little control over where messages end up.

vital marketing