Marketing Intro final

How many countries were members of the IMF?

29-188 (3)

What racial group are marketers now paying more attention to because they represent the highest income, best educated, and fastest growing racial group in the U.S.?

Asians americans (3)

Which public relations tool is typically intended to inform and engage the public?

Brochures

All along the supply chain, distribution channels add value to the product by

Changing the product's form or location

The Shirt Shop partners with other local businesses to run canned food drives that help combat hunger in surrounding counties. Thomas is a store employee who helps out with these events on his own time. There is no effort on the part of The Shirt Shop to encourage employees to participate, Thomas is helping out of his own free will. This is an example of

Corporate volunteerism

If FedEx makes the mistake of assuming that foreign consumers participate in the same type of activities as those individuals in the United States and thus only offers the same products and services in the United States to these foreign consumers, then FedEx is making a mistake concerning

Cultural fit (3)

In the planning phase of website development, the planning team works with stakeholders to

Develop a clear understanding of the site's target audience and its needs

Which of the following is a variable cost?

Direct materials cost

When a big name retailer decides to open its own manufacturing plant overseas, this is an example of

Direct ownership: A method of entering an international market in which a domestic firm actively manages a foreign company or overseas facilities

Intermediaries through which the flow of products travels are called

Distribution channel

Savings accounts and insurance policies are means by which individuals satisfy the need for

Economic Safety (4)

The American Marketing Association has established these to ensure that marketing firms do not return findings favorable to the client or arrive at a conclusion predetermined by the client.

Ethical standards

What document provides a one- to two-page summary of the marketing plan's main points?

Executive summary (2)

According to your text, what three elements should be contained within a company's financial projections?

Financial projections: Sales forecast, expense forecast and Break even analysis (2)

BMW is a car company that is marketed under the same name across multiple countries. What type of branding is this considered to be a description of?

Global brand

Compare the following statements made by a salesperson and select the one that exemplifies handling objections by denial.

It simply is not accurate to claim that our product is a copycat of XYZ brand. We have a patent showing how our product is considerably different

The process of planning, implementing, and controlling the flow of goods, services, and information between the point of origin and the point of consumption in order to meet customer requirements is called

Logistics (9)

Matt's Mobile Services has designed a cell phone plan especially for tech-savvy teens who are heavy cell-phone users and live in households earning over $150,000 per year. In tailoring the plan for a specific group of consumers based on their particular needs, Matt's Mobile Services has provided an example of

Market Targeting ()

The actions a firm must take to accomplish the marketing objectives established in its mission statement and strategic planning process are outlined in the

Marketing strategy (2)

Jayla and Stuart are trained researchers. They visit restaurants posing as customers in order to assess the level of service, quality of food, and competence of the wait staff. Jayla and Stuart are called

Mystery Shoppers

Marketers must constantly monitor their competitors' products, prices, distribution, and promotional efforts, because:

New products offerings by a competitor may need to adjust their marketing mix based on new competing products may require adjustments to one or more components the firm's marketing mix

Journey mapping is a technique that helps companies identify

Points in their customers journey where the buying process breaks down and provides a road map of opportunities to reduce those friction points

Which marketing mix element describes what a buyer exchanges with a seller?

Price (1)

1) During what stage in the evolution of marketing did firms believe that quality products would sell themselves?

Production orientation/ P (1)

Which of the following best describes the components of the marketing mix?

Products, price, place, Promotion

A measure of the percentage of the target market that has been exposed to a promotional message at least once during a specific time period is referred to as

Reach

A family traveling in their car is looking for a place to eat off the highway. One of the children in the car sees a sign up ahead with the face of Ronald McDonald on it and exclaims, "Let's go to McDonald's!" This is most likely an example of brand?

Recognition

Research plan development is also sometimes called

Research design (5)

The measure of a firm's effectiveness in using the resources allocated to its marketing effort is called

Return on Marketing investment (2)

Which era in the history of marketing continued until the end of World War II?

Sales Orientation (1)

If a company's CRM efforts lead to an increase in the number of goods or services purchased by a consumer, then it has been successful in increasing its

Share of customers

The group of people to whom a firm directs its marketing efforts and ultimately its merchandise is known as its____ market.

Target

What issue highlighted in your text is an ever-present concern for customers regarding CRM systems?

The worry that customer data is not secure

Scotts Fertilizer has a 4-step program for lawn care. Each step features a different product. Scotts sells the fertilizer as a set containing one bag of each of the 4-step products. If Scotts decided to sell each product individually rather than as a set, it would be an example of which pricing strategy?

Unbundling

Country-of-origin effects are the

are the beliefs and associations people in one country have about goods and services produced in another country. They can reflect an overall positive or negative feeling about that country or be specific to certain products (4)

since the most recent election, the members in Alex's community have felt considerably more optimistic about the shape of the economy. As a result, the members of Alex's community have purchased more. There has likely been the result of an increase in

consumer confidence (3)

Which of the following represents B2B marketing?

example: a steel manufacturer selling rolled steel to an automarker

Which statement regarding the physical presence of retail stores is true?

most retail transactions occur in physical stores.

customer likes and dislikes, and provide market feedback on competitors and trends in the macro-environment.

personal selling

the ease with which website visitors can achieve their objectives for visiting the site is termed

website usability