Marketing Final

Haley Computers Inc. has appointed a few employees to sift through customer conversations on online forums and social networking sites regarding products purchased from Haley. These employees are likely to be working as ________.

E) listening officers

A marketing intermediary would most likely help a firm by ________.

E) moving the firm's goods from production points to distribution centers

________ are distribution channel firms that help a company find customers or make sales to them.

A) Resellers

________ means that consumers are likely to remember good points made about a brand they favor and forget the good points made about competing brands.

A) Selective retention

BerryBerry is a fruit juice company that has traditionally sold three varieties of mixed-fruit juices: DazzleBerry, AquaBerry, and GloBerry. The company wants to add more products to its product line. Which of the following is an example of brand extension for BerryBerry?

A) The company introduces BerryBliss, a dried berry snack mix for kids.

For over ten years, Erudite, a publishing and educational company that produces college textbooks, has been selling its books online through studysmart.com, a popular online retailer that sells textbooks published by different companies. Recently, Erudite stopped selling its books through studysmart.com and set up its own website for selling its books. This change in channel organization is called ________.

A) disintermediation

A ________ is highly automated and designed to receive goods from various plants and suppliers, take orders, fill them efficiently, and deliver goods to customers as quickly as possible.

A) distribution center

Customers recognize the products of Breads & Butters, a coffee shop, by identifying the "twisted bread" logo that helped the firm revolutionize its products. In this case, the firm has differentiated itself through its ________.

A) image

A firm uses ________ when it charges a high, premium price for a new product with the intention of reducing the price in the future.

A) market-skimming pricing

Rad, a manufacturer of luxury watches, charges a higher price for its products than its competitors. Despite the high prices, the brand is popular among customers for its quality and service in comparison to cheaper alternatives available in the market. In this case, Rad offers a(n) ________ value proposition.

A) more-for-more

Which of the following is a quantitative Internet-based research approach?

A) online survey

Zeal is a popular automobile brand, and its positioning statement reads as follows: "For upscale American families who require large vehicles, Zeal is the automobile of choice." Which of the following mandatory elements is missing from the positioning statement?

A) point of difference

Which of the following sets the lower limit for a product's pricing?

A) product costs

Both market penetration strategies and market development strategies primarily involve ________.

A) selling a company's current products

________ refers to the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use.

B) Retailing

Which of the following is an example of a horizontal conflict in a distribution channel?

B) a Ford car dealer complaining that another Ford dealer is underpricing the same models

Fine Corp., a consumer electronics manufacturer, targets a market with many low-margin customers. Which of the following types of associations would be most profitable for the firm to develop with these customers?

B) basic relationships

In the BCG matrix, ________ refer to low-growth, high-share businesses or products.

B) cash cows

Ursa Martin, a book publisher, has decided to work with Hope in Children, a charity foundation that helps feed and educate children in poor countries. Ursa Martin has decided that a percentage of revenue from every book it sells will go to the charity. The books are marketed by conveying this message to customers. Which of the following marketing techniques describes Ursa Martin's association with Hope in Children?

B) cause-related marketing

Kallton is a multinational technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its Web site that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Kallton is using ________ to generate new product ideas.

B) crowdsourcing

Bateman Gray Motors sells the cars it produces using dedicated dealers who only sell Bateman Gray's products at their outlets. What kind of marketing strategy has Bateman Gray adopted with its car dealers?

B) exclusive dealing

TruMart, a leading retail chain, decides to open a restaurant inside its stores, so the firm partners with MeatMe, a popular burger chain. MeatMe opens a restaurant inside TruMart. The MeatMe chain of restaurants also has a deal with Westman Cola to serve only Westman soft drinks at its outlets. This arrangement will benefit all three companies. What kind of channel arrangement is being followed in this case?

B) horizontal marketing system

Qriosity Inc. released a new antivirus program at half-price to attract buyers. This is most likely an example of ________.

B) market-penetration pricing

Fargo Inc. is a carbonated beverage manufacturer that has many manufacturing plants around the world. It is planning to shift from using thermal power to wind power for its manufacturing plants in the Netherlands to decrease dependency on nonrenewable sources of energy. This scenario depicts Fargo's concern for its ________ environment. A) economic

B) natural

Argonaut Food Stores, a retail giant, hires better-skilled employees than its competitors by employing strategic recruitment practices. It also conducts highly specialized training programs for its employees. In this case, Argonaut has focused on gaining a strong competitive advantage through ________ differentiation.

B) people

Flores Fashions promotes its clothing by emphasizing the durability and quality of the fabrics it uses. The company has positioned its brand based on ________.

B) product attributes

An ethical concern about companies that use online marketing techniques and involve consumer information in the process is that these companies ________.

B) track, share, and misuse browsing details of unknowing customers

Which of the following is an example of consumer-generated marketing?

C) Fun & Run, a local amusement park, promotes its services by allowing consumers to upload videos and write reviews about the park.

Vernon Inc. would like to set the best price for a new product. The firm conducts an experimental study by selling the new product at two different prices in two different locations keeping other factors constant to see if a lower price results in better sales. This is most likely an example of ________ research.

C) causal

Kelstone Developers is planning to build a new shopping mall that would require the partial acquisition of a nearby public park. Walking Green, an environmental group, challenges the plan citing environmental destruction. In response to the demands of Walking Green, Kelstone Developers promises to build a huge park-like walkway around the mall. Walking Green is an example of a(n) ________ in this scenario.

C) citizen-action public

The marketing manager of Appeal Inc. has noticed a sharp decrease in sales over the last two months. The manager decides to conduct marketing research to identify potential causes for the drop in sales. Which of the following should the manager do first?

C) define the problem and objectives

Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a(n) ________.

C) demand

A company that sells personal care products sends a trained observer to watch potential buyers in their natural environments. This is an example of ________ research.

C) ethnographic

Monfax Corporation insures manufacturers, distributors, and consumers against the loss or damage of goods during transportation after a purchase or sale. In this case, Monfax is an example of a ________.

C) financial intermediary

Flax is a chain of stores that carries several product lines including clothing, home furnishings, and household appliances. Each line is operated as a separate department, and employees are available to assist and advise customers in every phase of the shopping process. Flax is most likely a ________.

C) full-service retailer

Which of the following is a psychographic characteristic of a consumer? A) gender

C) lifestyle

The town of Genter recently witnessed a devastating hurricane that crippled the town's infrastructure. Q-Mart, a retail chain that plans to open a new retail store in Genter, organizes a program to help the people of Genter. The program consists of providing free meals to those who lost their dwellings in the hurricane. What section of the marketing microenvironment is Q-Mart most likely trying to reach?

C) local publics

Which of the following is the right order of the steps that companies generally follow in designing a customer-driven marketing strategy?

C) market segmentation, market targeting, differentiation, and positioning

A&B's Smarter Planet campaign markets A&B as a company that provides innovative solutions that improve the world's IQ. This activity of A&B is an example of ________ marketing.

C) organization

A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) ________.

C) straight rebuy

Radox, a luxury watch brand, identifies a market segment that is willing to pay premium prices for its watches, and Radox managers select an ideal selling price. Managers then determine the costs to create watches that meet the ideal selling price. The company's pricing approach is referred to as ________.

C) target costing

At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance departments work in cross-functional groups to save time and money in the new product development process. From this description, it can be inferred that Fantastic Flavors uses a(n) ________ approach.

C) team-based new product development

Which of the following is part of the microenvironment of a firm's marketing environment?

C) the suppliers who work with the company

________ is the degree to which an innovation fits the values and experiences of potential consumers.

D) Compatibility

Which of the following is true of strategic planning in a firm?

D) It deals with adapting the firm to take advantage of changing marketing opportunities

________ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying separate products and services from several suppliers.

D) Systems selling

Carla, a team leader in charge of customer relationship management, is planning strategies to improve the profitability of her firm's least profitable but loyal customers. She is also examining methods for "firing" customers in this group who cannot be made profitable. To which of the following customer relationship groups do these customers belong?

D) barnacles

Dextora Technologies manufactures microprocessors and caters exclusively to private manufacturers that produce high-end computers. Which type of market does Dextora directly target?

D) business market

Venture Zone, a hiking and climbing equipment retailer, has a rock climbing wall inside the store so that consumers can test products prior to purchase. Venture Zone most likely differentiates itself from its competitors through ________.

D) experiential retailing

Diane Chambers, the marketing manager of FarmFresh, collects data from her monthly records of sales, costs, and cash flow. In this case, Diane is making use of ________ databases.

D) internal

Which of the following is a primary characteristic of strategic control rather than operating control?

D) looking at whether the company's basic plans and action goals are well matched to its opportunities

Voize, a leading mobile phone manufacturer, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Voize most likely follows the ________.

D) production concept

Traxx is a newly emerging shoe manufacturing company. After extensive market research, Traxx divides its market into professional athletes, "hobbyists" or amateur players, and people who wear shoes as part of their casual attire. Each category has its own needs, traits, and marketing goals. In this scenario, Traxx has engaged in market ________.

D) segmentation

Some fast food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to the soaring obesity rates and environmental problems. In this case, these fast-food restaurants have overlooked the ________ concept.

D) societal marketing

Which of the following is true of a vertical marketing system?

E) It has one channel member owning all the other channel members or has contracts with all other channel members.

Which of the following is true of downstream channels in a company's supply chain?

E) They form an intermediary link between the company and its customers.

In a SWOT analysis, which of the following would most likely be considered a strength of a company?

E) an improvement in the company's production technology

At Ken's boutique, the policy statement posted in the reception states: "Without our customers, we don't exist." Ken and his staff aim to delight each customer and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied. Instead of focusing on individual transactions, Ken and his staff are putting a priority on ________.

E) capturing customer lifetime value

Marque, a high-end maker of designer watches, has started making inexpensive watches to take advantage of enormous growth rates in low-end market segments. Marque is most likely engaging in ________.

E) downward stretching

Silkskin Cosmetics is advertising its newest line of eye makeup. Made from all-natural ingredients, the products are hypoallergenic. Silkskin is selling the products in specially designed tubes that make application easier. Which of the following is a core customer value for Silkskin's line of eye makeup?

E) the desire for having beautiful eyes

Which of the following factors would fall under the demographic environment for marketers?

E) the educational level of a company's customers

From the economic system's point of view, the role of marketing intermediaries is to ________.

E) transform the assortments of products made by producers into the assortments wanted by consumers