Marketing Management

Jemma smokes two packs of cigarettes each day. She is aware of the negative impacts of smoking on her health and the potential for​ second-hand smoke to harm the health of others. Her demand state is best characterized as​ _____________________ demand.

unwholesome

Question Number 3) Which of the following best describes a (RED) product that has been developed?

(RED) Dell computer

Your market researchers tell you that about 80,000 handbags of comparable quality and style to Bien Tote sell every three months. Grazzi's sales numbers for the past three months are 12,000 bags. What do you think Holden Evan's goal for Bien Tote sales should be in the first three months?

20,000 bags You estimated that Holden Evan should try to sell 20,000 bags in the first three months. This was a strong estimate that targets an attainable goal yet produces enough bags to keep production costs down. Click Next to continue.

Question Number 2) Consumers choose the channels they prefer based on price, product assortment, and convenience, as well as their own shopping goals (economic, social, or experience). As with products, segmentation exists, and marketers must be aware that different consumers have different needs during the purchase process. Which of the following types of shoppers would be interested in Harley Davidson?

Affinity customers

​__________________________ are the most fashion conscious of all racial and ethnic groups and are more likely to be influenced by their children when selecting a product for purchase and less likely to be influenced by unfamiliar brands.

African Americans

Now that you have analyzed three product lines, choose one that is a high priority for decisive action by Holden Evan.

Anti-Aging Cream

Richard​ Monturo, global head of strategy at Strawberry​ Frog, refers to​ "casting a​ movie" and​ "putting a band​ together." What is he referring to​ specifically?

Assembling the best creative team to work on an ad campaign

Question Number 4) Which of the following is not a tip Le Tourment Vert offers for branding products?

Brand extension

How does Strawberry Frog convey a sense of cultural understanding to clients ?

By hiring freelance employees from around the world.

Information such as​ "5% of the​ world's population lives in North​ America," is an example of what type of​ data?

Demographic

Question Number 3) Information systems are used to gather ________ data on users; it is then used to provide better services to customers.

Demographic

Monitoring macroenvironment forces takes place during which​ activity?

During an external environment analysis

​_____ takes place when a firm sets rules and encourages customers to enforce those rules while helping each other.

Encouraging customer citizenship

Which of the following best supports a direct marketing​ channel?

Encouraging manufacturers to develop​ zero-level channels

Which of the following results in a tangible increase in​ price?

Escalator clauses

You must also determine what level of customer service will be appropriate for customers of the ready-made fishing rods.

Extensive service such as an expert staff, even if it causes prices to increase.

Which best describes the source of Jones Soda's failure?

Faulty market research

What is the final step in the business unit​ strategic-planning process?

Feedback and control

Question Number 4) To be branded, products must be differentiated. How does Jones Soda differentiate its product?

Form, features, and customization

​Logo, MTV's television channel for​ _________________________, has 150 advertisers in a wide variety of product categories and is available in 40 million homes.

Gay and lesbian audiences

Which of the following represents an aspect of the Empathy dimension of​ SERVQUAL?

Giving customers individual attention

According to the​ video, which of the following has significantly changed the role of media​ buyers?

Increasing complexity of the media environment

Question Number 3) Which of the following is a competitor of Jones Soda and not an example of how it builds and manages its product mix and product line?

Jones Odwalla

You have made your decisions about the sale of HentonCast's readymade fishing rods, but what about your original product, the custom rods?

Maintain the current ways of selling the custom rods

​________ are third parties that link buyers and sellers.

Market makers

Now that the primary target market's gender has been determined, what is the best target age group?

Middle-aged and older adults (age 35 and up)

ConAgra initiated a study with some of its retailers and found that shoppers who bought their Orville Redenbacher and Act II brands of popcorn tended to also buy​ Coke, so they worked with retailers to develop​ in-store displays for both products. This scenario describes which of the following actions a company can take to improve the quantity and quality of its marketing​ intelligence?

Motivate​ distributors, retailers, and other intermediaries to pass along important intelligence.

Question Number 5) Cross-referencing Meredith's database against subscribers of larger magazines is most likely a signal of looking to create which of the following editions?

Niche

What is your reason for choosing market-penetration pricing?

OPTION 3 The low cost will attract customers to the Bien Tote handbags. You identified your reason for choosing market-penetration pricing as that the low cost would attract customers. This was the best choice. The low price accompanying the glamorous handbag will encourage many women to buy the bags, increasing Holden's Evan's profits.

Question Number 3) What kind of branding architecture best describes Le Tourment Vert?

Parent brand

Question Number 4) Which of the following best describes what Harley Davidson believes is its best marketing vehicle?

Passionate Harley Davidson riders

Question Number 2) The aim of the defensive strategy is to reduce the probability of attack, divert attacks to less-threatened areas, and lessen their intensity. Which type of defensive strategy would you expect Live Nation to use?

Position defense

Which of the following is a true statement about price​ elasticity?

Price elasticity depends on the magnitude and direction of the contemplated price change.

Should the retail price of a proposed garment be one of the factors considered by the NPD committee at the screening stage?

Price is a factor that should be considered at this time. It's a part of the product design, especially in fashion. Your choice to consider price at this time was a good decision.

Which social factor influences Jones Soda consumers the most?

Reference group

​ATMs, self-pumping at gas​ stations, self-checkout at​ hotels, and vending machines are examples of​ ________.

SSTs

Jones Soda customers can order bottles of soda with their own pictures on them. What term best describes this tactic?

Satisfiers

​_____________________, such as transportation​ companies, banks, and insurance​ companies, are used to carry out transactions with potential buyers.

Service Channels

​________ includes​ credit, delivery,​ installation, and repairs provided by the channel.

Service backup

Which​ "soft" element of success supports the notion the employees share the same guiding​ principles?

Shared values

To identify the market for your product, you need to decide how many market segments to pursue. Select an approach that has a good chance of being effective.

Target two market segments at once, designing separate offers for each.

Creating an organization capable of responsibly implementing the marketing plan will result in what​ ?

The creation of successful long-term growth

You chose to create a community-based website for the company. What do you want the culture and tone of the website to be?

The website will be a place where people can share fashion tips as well as participating in interactive features, with the idea that Swazzi clothing can be customized and personalized.

​"Enriching Women's​ Lives" is a​ three-word mantra that is used by Mary Kay. This is an example of which of the following characteristics of good mission​ statements?

They are​ short, memorable, and as meaningful as possible.

Which of the following does NOT contribute to the five major characteristics of a good mission​ statement?

They discuss specific competitive companies

You next move on to the report your team has provided for you on the organic skin cream product line. After you have reviewed the report, decide the best classification

This is incorrect. The organic skin cream line is actually a question mark.

When Grace Performance Chemicals sales representatives learned customers were using waterproofing materials to soundproof their cars and to patch boots and​ tents, the company came up with seven new product ideas worth millions in sales. This scenario describes what action a company can take to improve the quantity and quality of its marketing​ intelligence?

Train and motivate the sales force to spot and report new developments.

In order to promote Smoothsayer, you need to decide how to distinguish it from its competitors. What is a good number of key product differences to promote? There may be more than one good choice here.

Two

What is the tradeoff in return for the benefits associated with an integrated multichannel marketing​ system?

Two or more channels potentially competing for the same customer

Which of the following should a small business avoid when considering the specific branding guidelines for small​ businesses?

Use a​ trial-and-error approach.

Question Number 2) Which of the following is a primary concern for ZipCar or any other business engaging in online transactions?

User privacy

Which of the following would make a small business unit least​ effective?

Using different managers to execute the same business strategy.

Which type of behavior explains why flavors such as turkey-flavored and gravy-flavored sodas sold out?

Variety-seeking buying behavior

First Steps You consider the situation, roll up your sleeves and get to work. What should be the first steps you take in obtaining the information youneed in order to solve TriState's problem?

YOU CHOSE OPTION 3 Set up a meeting with marketing and other involved parties in order to define the problem that needs to be solved. You got off to a good start by choosing to define the problem before you started examining data or seeking new information.

The characteristic of useful market segments that relates to whether the segments can be effectively reached and served is whether the segment is​ ______________________.

accessible

When Radian6 listens to consumer conversations about which brands they like the best or the ones with which they have emotional connections, this demonstrates ________________ referral

affect

The​ ________ market is the set of consumers who have​ interest, income, and access to a particular offer.

available

​Information, negotiation,​ finance, and risk taking are functions that occur in​ ________.

both forward flow​ (from the company to the​ customers) and backward flow​ (from the customers to the​ company)

Top marketing companies such as​ Coca-Cola, Apple, and Nike employ​ ________.

both push and pull strategies

Reward and​ ____________ power​ (for example, when a manufacturer threatens to withdraw a resource or terminate a relationship if intermediaries fail to​ cooperate) are objectively observable.

coercive

In order to make portfolio decisions, you will need to classify each product line as a star, cash cow, question mark, or dog, as defined by the BCG growth-share matrix approach. Review the report your team has provided for you on the teenage hair dye product line, and then decide the best classification.

dog

Income distribution and trends related to​ savings, debt, and credit are part of the​ ________ environment.

economic

To do things​ right, rather than doing the right​ thing, is considered​ what?

efficiency

Dollar stores base their strategy around extreme​ ________, cutting the costs associated with constant sales and promotions and increasing consumer confidence in everyday shelf prices.

everyday low pricing

Crocs​ clogs, Elmo TMX​ doll, and Pokemon gifts and toys are examples of​ ________, which are​ unpredictable, short-lived, and without​ social, economic, and political significance.

fads

Jordan pays overhead each​ month, including her​ company's bills for​ rent, heat,​ interest, and​ salaries, which are examples of​ ________.

fixed costs

The first step in global channel​ planning, as is often the case in​ marketing, is to​ ________.

get close to customers

Differentiated marketing leads to higher sales and​ _____________?

higher costs

Aida decided to switch doctors after she had to wait 2.5 hours after her scheduled appointment to see her doctor. She experienced the​ ________ factor that leads to customer switching behavior.

inconvenience

Digital technology is fueling massive​ _______________________. For​ example, Apple,​ Sony, and Samsung release a stream of entertainment devices from MP3 players to plasma TVs and camcorders.

industry convergence

The three criteria for a brand mantra include​ communicate, simplify, and​ ________.

inspire

The demand state described when consumers share a strong need that cannot be satisfied by an existing product is​ _______________ demand.

latent

Question Number 1) The company (RED) can measure ________ instead of dollars earned.

lives saved

A machine tool company that estimates the market potential for its wood lathe by identifying all potential buyers of wood lathes in the area and estimating the number of lathes each one might​ buy, is using the​ ________ to estimate market potential.

market build up method

The distance between the market minimum and the market potential shows the overall​ ________.

marketing sensitivity of demand

When PepsiCo sold its cola syrup to Russia for rubles and agreed to buy Russian vodka at a certain rate for sale in the United​ States, it was engaged in the form of countertrade known as​ a(n) ________.

offset

The heart of the internal records system is the​ ________ because customers favor firms that can promise a timely delivery.

order-to-payment cycle

Direct online marketing allows Zappos to track a user, but it does not help track __________.

perceived customer value

Companies such as​ IBM, Caterpillar, and​ Hewlett-Packard have high​ ________ power; they are manufacturers that are so highly respected that intermediaries are proud to be associated with them.

referent

Better trained employees exhibit six​ characteristics: competence,​ courtesy, credibility,​ reliability, ________, and communication.

responsiveness

When BMW first made its strong competitive push into the U.S. market in the early​ 1980s, it positioned the brand as the only automobile that offered both luxury​ (competing with​ Cadillac) and performance​ (competing with the​ Corvette), which is known as​ ________ because it uses points of difference and points of parity across categories.

straddle positioning

At the Four Seasons luxury hotel​ chain, employees must past four interviews before being​ hired, and each hotel employs a guest historian to track guest preferences as part of its​ ________, or obsession with satisfying the needs of target customers.

strategic concept

Consumers who show no loyalty to any brand are called​ ________________.

switchers

​Cars, computers, and cell phones are examples of​ ________ because they are technologically advanced products.

tangible goods with accompanying services

When ConAgra foods decided to cut​ $250 million in costs to return to a​ $1 price point​ (after sales dropped as a result of raising prices​ $0.25 to cover higher commodity​ costs), it was using​ ________.

target costing

​Full-line forcing is​ a(n) ________ wherein a producer of a strong brand sells to dealers only if the dealer will take some or all of the rest of the line.

tying agreement

Radian6 is a social listening and engagement service. One of the fundamental ways Radian6 serves its clients is to help them ________________________.

understand consumer attitudes

​Domino's reason why a target market should buy its pizza is​ "A delicious hot​ pizza, delivered promptly to your​ door." This is also known as​ Domino's ________.

value proposition

When Estee Lauder set up a Web site to sell its Clinique and Bobbi Brown​ brands, Dayton Hudson reduced space for Estee Lauder products in its department stores in response to the​ ________.

vertical channel conflict

When Sony introduced the first​ high-definition television to the Japanese market in​ 1990, it was priced at​ $43,000, which is an example of​ ________ pricing.

​market-skimming

Which of the following flows between channel members and can move in any​ direction?

Information

Question Number 4) Several distinctive service characteristics greatly affect the design of marketing programs. Which least describes ZipCar's car-sharing services?

Intangibility

​________ is the limit approached by market demand as industry marketing expenditures approach infinity for a given marketing environment.

Market potential

The Internet augments​ marketers' geographic reach to inform customers and promote products worldwide. This is an example of which of the following new company​ capabilities?

Marketers can use the internet as a powerful information and sales channel.

The trap associated with a​ price-cutting strategy where a​ higher-priced competitor matches lower prices but has longer staying power because of deeper cash reserves is the​ ________.

​shallow-pockets trap

The niche marketing strategy used by​ Tom's of​ Maine, which uses concentrated​ marketing, is in line with a​ ________________________ strategy.

​single-segment concentration

Now you need to narrow down each of the segments that you chose, in order to find the best target market for Smoothsayer beauty cream.Start by identifying the primary market for the product. First, what gender are you marketing to?

Female

​Nike's strong,​ favorable, and unique​ associations-such as​ performance, innovative​ technology, and​ winning-are examples of​ ________.

multiple​ points-of-difference

The part of a flexible market offering that contains the product and service elements that all segment members value is the​ ______________________.

naked solution

A beverage company can create a visual representation of consumer​ perceptions, preferences, and​ competitors, and it can show the ideal configurations for different market segments using a​ ________.

perceptual map

When the mission statement from St. Jude Medical notes St. Jude Medical is​ "dedicated to developing medical technology and services that put more control in the hands of​ physicians, and that advance the practice of medicine and contribute to successful outcomes for each​ patient," it is defining competitive territory and boundaries on the​ _____________________________________ level.

products and application

Michael Dell warned companies to be careful about the way they interpret data from the​ ________. The sales numbers might reflect a​ salesperson's ability to effectively sell a specific product which may not necessarily be the exact product a customer wants.

sales information system

A consumer who is shopping for a car does not admit​ it, but he wants his friends to see him as a savvy customer. This is an example of​ a(n) _________________ need.

secret

Quiz 1 Good marketers

seek new ways to satisfy customers

​Starwood's $1.7 billion update to its Sheraton​ chain, Kayak.com's travel search​ engine, Quick​ Car, RediClinic and​ MinuteClinic, NetJets, and Marquis Jets are examples of​ ________.

service innovations

Companies that are trying to calculate​ ________ might do so by asking customers to​ "Name the first company that comes to mind in this​ industry."

share of mind

Defining the size and growth rate of a market is part of which activity in creating a marketing​ place?

situation analysis

One of the approaches used to reach and persuade Gen Y​ customers, who are turned off by overt branding practices and​ "hard-sell" marketers, is the use of​ ________________________, like the American Legacy​ Foundation's Truth​ Squad, which handed out​ T-shirts, bandanas, and dog tags at​ teen-targeted events.

street teams

Which of the following is not an example of a descriptive characteristic used to define​ segments?

Consumer responses to benefits

Question Number 4) Internal marketing is an important concept, especially in large companies like Meredith. What is the main idea behind internal marketing?

Everyone in the organization accepts the marketing goals and engages in communicating customer value.

You must first obtain data to satisfy the committee of the "R" criterion—that is, to support the proposition that each clothing line would satisfy a genuine need. Which of these factors would you gauge as most important to this point?

Reliable industry data showing current customer clothing preferences.

​Back-to-school sales in August are an example of​ ________.

​special-event pricing

When Johnson Controls reached beyond its​ climate-control equipment and components business to manage integrated facilities by offering products and services that optimize energy use and improve comfort and​ security, it was adding​ ________ that extended beyond the functioning and performance of the product itself.

​value-augmenting services

The intangible associations that help to establish the tone for the words and actions of the​ brand, which exist on the outer circle of the​ brand-positioning bull's-eye, are​ ________.

​values/personality/character

​Door-to-door sales, home​ parties, mail​ order, telemarketing, TV​ selling, Internet​ selling, and​ manufacturer-owned stores are examples of​ ________.

​zero-level channels

You have chosen a subset of the 35-and-up age bracket as your primary target market segment. What is the other segment you want to target?

20-24, daily beauty-cream users

Which user type is the best fit for the primary target market?

Daily users of beauty cream

Which of the following includes all the activities associated with defining target markets and prospecting for new​ customers?

The customer acquisition process

Caterpillar uses​ ________ to set prices on its construction​ equipment, and justifies a higher price by showing lower lifetime operating costs.

​perceived-value pricing

When ESPN found new products for its existing markets by expanding into ten cable​ channels, a Web site and a​ magazine, it was using a​ _________________________.

​product-development strategy

​Hotels.com, an information leader in hotel​ reservations, is an example of a​ ________ company.

​pure-click

Which of the three proposals would be strongest in filling a real market need?

Carnaby Street. Your own research demonstrates an ongoing high level of interest in British fashions from the 1960s

The first factor to consider in pricing is who your demographic is. Grazzi, the competing handbag, is marketing to upper-middle-class, professional working women. How do you want to position the Bien Tote in relation to Grazzi?

Middle-class women, make the glamour and convenience of a Grazzi-style handbag more affordable

Which best describes a way Zappos delivers customer value, satisfaction, and loyalty?

Providing brands with loyal followers

First, you need to decide the best place to sell the product, based on the product positioning you are trying to achieve.

You chose to place Burnin' Rock in health food store chains and the organic food sections of supermarkets. This was the best choice for reaching your target market.

Services that are high in​ ________ qualities are difficult to evaluate in advance or even after consumption.

credence

The element of narrative branding that expresses how consumers engage with the brand over time and touch points where they come into contact with the brand is the​ ________.

customer journey

If a producer wants to achieve rapid market penetration through a​ low-price policy, whereas a dealer wants to work with high margins to pursue​ short-run profitability, the source of the channel conflict is​ ________.

goal incompatibility

The first step in setting pricing policy is​ ________.

selecting the pricing objective

A small company defines its business as designing incandescent lighting systems for television studios. The incandescent lighting part of the business definition is an example of​ _________________________________.

technology

The step in the segmentation process in which a segment storyboard is created to test the attractiveness of each​ segment's positioning strategy is​ __________________.

the segment​ "acid test"

Among the five​ forces, the​ ________________________ can be defended against by building​ win-win relationships with suppliers or using multiple supply sources.

threat of​ suppliers' growing bargaining power

The three​ C's model for price setting includes​ ________.

​costs, competitors'​ prices, and​ customers' assessments of unique features

When a museum charges a lower admission fee for students and senior​ citizens, it is engaging in​ ________ pricing.

​customer-segment

When manufactures and retailers adopt efficient consumer response​ (ECR) practices,​ _____ is used to stimulate consumer demand through joint marketing and sales activities.

​demand-side management

To revitalize Swazzi's online marketing presence, you need to select one of two revised strategies that have been developed by the marketing department. Each strategy has potential but will pose different challenges. Which strategy do you want to adopt?

Create a website where a community of consumers can share fashion tips.

Question Number 5) Live Nation focuses on giving fans access to the artists. Which type of proactive marketing best describes Live Nation?

Creative marketing

The use of the Internet by customers has allowed customers to send comments around the world with a mouse​ click, a form of​ __________.

Customer empowerment

What is a negative aspect of database marketing for Zappos?

Customers who don't want a relationship with the company

Question Number 4) The partnership between (RED) and Girl Skateboard might not seem big, but it is crucial. Which best describes the purpose this relationship serves?

It is specific to an audience that needs to be addressed, a special addition that addresses a specific community, and the consumer knows that Girl Skateboard contributes to (RED).

Question Number 5) How does Jones Soda uniquely use its labeling as a marketing tool?

It uses photographs from actual customers on its labels

Question Number 4) Which of the following statements best indicates how Jones Soda reshaped its message​ strategy?

Jones Soda eventually became available in places such as Walmart and Safeway.

Now that you are in the growth stage, how should you adjust the amount of your budget for promotion, compared to the launch year?

Keep promotion spending the same Increase promotion spending You chose to increase promotion spending in response to growth. This was a good choice, since you needed to continue educating consumers while warding off competition.

Bearing market share in mind, what is the best way to position Smoothsayer in the marketplace? Select a positioning strategy based on the information in this positioning map.

"Go ahead and splurge. Your skin will thank you."

You next move on to estimating demand for the new handbags. First, choose if you think Bien Tote will move on a curve for "normal" items—in which demand decreases as the price increases, or the curve for "prestige" items, in which demand and price increase together—at least up to a point.

"Normal" demand curve FEEDBACK You believed that the Bien Tote handbags would sell according to a "normal" demand curve. This was a good choice given your target market, who would not be able to afford the bags if they became too highly priced. Click Next to continue.

Panasonic is realigning its business to maximize its core competencies. The first step in the process is​ _______________.

(re)defining the business concept or "big idea"

Your first task is to analyze the existing sales data and decide how to make the most of your online advertising budget. The chart displays the cost and revenue generated by three different online ad campaigns. Which of the following campaigns is producing the highest revenue per dollar spent? Select an option from the choices on the right.

A You identified campaign A as the one generating the most revenue per dollar spent. This was the best choice. Campaign A cost $1250 and generated $12,000, resulting in $9.60 per dollar spent. Click Next to continue.

The website needs a "hook" to keep consumers interested. An ad agency presents you with several possibilities. Which one would you like to go with?

A "paper doll" activity allowing users to put their own faces on virtual characters and try on Swazzi clothing

Jonathan wants to estimate future demand for his​ firm's products, but buyer interviewing is​ impractical, and he would like a grassroots forecasting procedure that can be broken down by territory. Which of the following forecasting methods should he​ use?

A composite of sales force options

​________ consists of​ people, equipment, and procedures to​ gather, sort,​ analyze, evaluate, and distribute​ needed, timely, and accurate information to marketing decision makers.

A marketing information system

Which position at Strawberry Frog involves serving as the interface between clients and creative teams?

Account Manager

Which group of employees conducts analysis and behavioral research to determine how an ad will meet a target markets need?

Account planning

Excellent service companies seek to instill strong customer orientation in employees. Which of the following is often an issue in customer coproduction that limits an​ employee's ability to thrive in a​ customer-contact position?

Acknowledging customer failures.

Which of the following possible consumer reference prices is generally unavailable to a​ consumer?

Actual future price

Meredith Corporation starts out by collecting which type of data?

Age, income, and gender

CH6 simulation

Background You are the marketing manager at TriState Dairies, a regional dairy firm. Sales have been flat in recent years, so management has beenlooking for new, creative, innovative products to spur the growth. Management's plan is to develop a new brand of milk products called Cow Power, to be marketed to kids 12 and under. They havedeveloped a range of colors - yellow, green, pink, red - and a range of flavors - banana, green apple, plum, butterscotch - for the CowPower brand.

There are several issues that might lead to a customer switching​ providers, including service encounter​ failures, ethical​ issues, and core service failures. Which of the following is an example of a core service​ failure?

Billing mistake

Question Number 1) What is one thing proprietary onboard technology does not allow ZipCar to do?

Censor radio stations accessed by users.

Burnin' Rock has reached maturity. Sales growth is slowing down. Competitors are numerous and have introduced products that are better, or cheaper, or more aggressively marketed. What will you do to keep sales up?

Create a new advertising campaign and promote Burnin' Rock more aggressively.

Now it's year three. The CEO wants to know your plan for sustaining market growth.

Create new lines of the product, such as different flavors and different degrees of heat.

It's still early in the launch stage. Sales of Burnin' Rock are not rising quickly. Growth is slow and the product has not yet turned a profit. How do you respond to this?

Cut promotion spending in order to improve profits. This was a not a good choice. Slow growth and no profits are normal at the very beginning of the product life cycle. This is normal for a new product. Do not adjust promotion spending.

You want the price to be low, yet still be high enough to cover production and delivery while making a profit. How will you achieve this?

Determine the cost of making and selling 20,000 bags and use that as the basis for the cost per unit.

​________ severely limits the number of intermediaries and is appropriate when the producer wants to maintain control over the service level and outputs offered by the resellers.

Exclusive distribution

Your first task is to decide the best target market for HentonCast's new line of readymade, but still top-quality, fishing rods. Choose the best market for this new product from the choices at right.

Expand the target market to serious anglers

Now that you have analyzed your possible channels, it is time to pick how you think HentonCast should sell its readymade rods.

High-end specialty shops You decided that selling through high-end specialty shops was the right decision. This was the best choice. These shops will provide customers with a high level of customer service, give HentonCast a good deal of control over decisions at the stores, and provide adaptability.

​_________________________ are the largest minority group in this​ country, with annual purchasing power estimated to be more than​ $1.5 trillion in 2015.

Hispanic Americans

Now that you have selected a target market, you must analyze consumers' needs before you decide how best to reach them. You can choose to hold a focus group to gather information from potential customers.

Hold a focus group.

Which of the following is one of the questions a company needs to consider in a homogeneous product​ market?

How can we enhance our augmented​ product?

To provide the best​ support, a manufacturer must identify the services customers value most and their relative importance. This takes place in what aspect of managing​ product-support services?

Identifying and satisfying customer needs

Richard Monturo, global head of strategy at Strawberry Frog, refers to being a cultural omnivore. Which of the following best explains this term?

Identifying new trends

Five primary activities create value and cost in a specific business. Which of the following is an example of a primary​ activity?

Inbound logistics

We can segment business markets with some of the same variables we use in consumer markets, such as geography, benefits sought, and usage rate, but business marketers also use other variables. Which of the following best describes a scenario in which Meredith Corporation uses another variable in its segment business market?

Meredith Corporation creates different versions for different regions, modifying the copy to better serve the specific target market.

Every time Meredith Corporation launches a new product, the company is in touch with the consumers constantly. Which of the following statements best describes the reason to remain in touch with the consumer?

Meredith Corporation's sophisticated data system enables the company to evaluate millions of consumers in all areas to develop what consumers want.

Question Number 2) Products fall into three groups according to durability and tangibility. Where does Jones Soda fall?

Nondurable goods

Question Number 1) According to David Ball, which of the following marketing methods is most likely to reach a new segment of potential subscribers?

Online offerings

Which of the following best describes the psychological processes that influence Jones Soda consumers?

Perception

Question Number 2) If most of the target audience is unaware of the​ object, the​ communicator's task is to build awareness. How does Jones Soda build​ awareness?

Peter Van Stolk began selling one bottle at a time of Jones Soda to the kids in his demographic target in places that they liked.

The CMO checks in with you and wants to know how you plan to adjust prices in response to growth.

Raise prices You chose to increase prices in response to growth. This was a poor choice, as the increase in prices caused growth to level off and competitors took away market share.

The Bien Tote sells well for the first three weeks. Then, actress Natalie Andrews is shown with the bag in People magazine. Sales skyrocket. How should you respond?

Raise the price to take advantage of the celebrity status of the handbags.

The CEO calls you to her office and tells you that the break-even price is below what Holden Evan would like to charge. What recommendation should you make?

Raise the price, but use the innovative design of Bien Tote along with a creative ad campaign to increase the perceived product value.

You are focusing on two product attributes when promoting Smoothsayer. Which product attributes do you want to promote?

Smoothsayer is high-quality and anti-aging.

Which of the following is an example of a program that Meredith Corporation came up with to evaluate its consumers?

The company developed Passion Points to evaluate consumers.

What is your best argument that Carnaby Street offers the most significant competitive advantage?

The last 50 years have shown that periodic interest by the general public in fashions of the 1960s can be substantial, and financially lucrative.

Question Number 1) Which of the following does Live Nation provide on its Web site to increase the frequency of consumption?

Ticketing, merchandise, and promotional offers

Randall Ringer and Michael Thibodeau see narrative branding as based on deep metaphors that connect to​ people's memories,​ associations, and stories. Which of the following helps to create those​ metaphors?

Visual language

Packaging Size You need to decide on the size of the containers. What do you think should be the ideal package size of this product?

YOU CHOSE OPTION 1 1 pint, to encourage adoption and be marketable to kids. You chose to sell Cow Power in small, 1-pint containers. This was a good choice because it encouraged adoption by the targetdemographic of kids. Divisibility of the product encourages trial and adoption.

Colors and Flavors What is a good choice for the form of the product? Your goal is to select attributes which will support a high rate of adoption andproduct succes

YOU CHOSE OPTION 1 The milk should have both flavoring and coloring. Consumers are more likely to buy Cow Power if it has significant advantages overregular milk. You chose to give the product flavoring and coloring. This was a good choice because it maximized the product's advantage overregular milk.

Test Marketing - Initial Sales Cow Power is tested in the marketplace by selling it through small stores in Paterson , New Jersey. After two weeks, the product isselling well. What do you do next?

YOU CHOSE OPTION 2 Continue test marketing for two more weeks, to make sure there is nothing you have missed. You chose to extend the test marketing period in order to be thorough. This was a wise choice because it gave you the chance to catchany issues that might cause adoption rates to decline before releasing the product.

Choose a Demographic Your first step is to select a target demographic for Cow Power. Any choice here can be successful, and choosing a target demographichelps focus your marketing efforts.

YOU CHOSE OPTION 2 Girls You chose to market Cow Power to girls.

Packaging Shape What shape do you want to use for the product container?

YOU CHOSE OPTION 2 Use a milk container with a funky shape. This will make the product attractive while causing the brand to stand out. You chose a distinctive container design for the product. This was the best choice in terms of communicability, and to make the productattractive to your target demographic.

Product Form The product is created by adding powdered ingredients to regular milk. In what form do you want to market Cow Power to thecustomer?

YOU CHOSE OPTION 3 Milk and powder already mixed together. This will make it easier for kids to consume the product. You chose to sell Cow Power as a finished product, with the milk and powder already mixed. This was the best choice, as it had the leastamount of complexity, and will aid the speed of adoption.

Branding for Girls What theme do you want to use in order to market to girls?

YOU CHOSE OPTION 3 Use pretty colors without a specific character theme. This will appeal to a wide range of female consumers. For the branding you chose pretty colors. This was a good choice because it appealed equally to girls and their parents.

Finally, you review the report your team has provided for you on the anti-aging skin cream product line. After you have reviewed the report, decide the best classification.

You correctly identified the anit-aging cream line as a star.

To protect a company from inflation on contracts for major industrial​ projects, such as aircraft construction or bridge​ building, ________ requires the customer to pay​ today's price and all or part of any inflation increase that takes place before delivery.

an escalator clause

Jeb separated people who wanted a​ high-quality car from people who wanted a​ low-priced car, then saw whether different characteristics were associated with each​ consumer-response segment. Jeb was defining segments using​ ______________________ considerations.

behavioral

According to the guidelines for branding small​ businesses, innovative packaging and​ pronounceable, memorable brand names are examples of​ ________ that should be well integrated.

brand elements

Question Number 3) Meredith Corporation collects information on each name in its database and breaks it down into ________.

data points

Companies that use​ _________________________ tailor marketing programs to the needs and wants of local customer groups in trading​ areas, neighborhoods, and local stores to get as close and personally relevant to individual customers as possible.

grassroots marketing

Question Number 2) New-product ideas can come from interacting with various groups. The company (RED) shows us this example by ________.

having a 45% awareness with the general market from ages 18-54

When​ Coca-Cola focused on developing its soft drink business but missed seeing the market for coffee bars and​ fresh-fruit juice bars that eventually impinged on its​ soft-drink business, it was suffering from​ ________ because it defined competition in traditional category and industry terms.

marketing myopia

The Internet enables sellers to discriminate between​ buyers, and buyers to discriminate between sellers. One of the ways a seller can use the Internet to discriminate between buyers is by​ ________.

monitoring customer behavior to tailor offers to individuals

When Starbucks defines several distinct sets of​ competitors, such as​ quick-serve restaurants, convenience​ shops, supermarket brands for home​ consumption, and local​ cafes, it is using​ ________.

multiple frames of reference

When banks try to make their positioning strategies tangible through the​ ________ dimension, they make sure that the exterior and interior have clean​ lines, the layout of the desks and the traffic flow are planned​ carefully, and waiting lines are not overly long.

place

The entity that includes​ cities, states,​ regions, and nations that compete to attract​ tourists, residents,​ factories, and company headquarters are​ __________.

places

Competitive​ ________ are associations designed to overcome perceived weaknesses of the​ brand, which might be required to negate perceived vulnerabilities or shortcomings.

points of parity

All marketing strategies are built on​ STP, in which a company discovers different needs and groups in the​ marketplace, targets those it can satisfy in a superior​ way, and then​ ________ its offerings so that the target market recognizes the​ company's distinctive offerings and images.

positions

When the recent recession​ hit, Zappos decided to stop offering complimentary overnight shipping to​ first-time buyers and instead offer it to repeat buyers​ only, which is an example of the​ ________ best practice of top service companies.

profit tiers

When the Modern Museum of Art separated its consumers by whether they were culture oriented or outdoor oriented for its new exhibit on art that used natural​ materials, they were using​ ___________________ segmentation.

psychographic lifestyle

The fact that Honda ran ads depicting sexy college kids partying near the car at a​ beach, which attracted baby​ boomers, is an illustration of the fact that Baby Boomers may be​ _______________.

psychologically young

In the context of​ Starbucks, 24-hour training of​ baristas, stock​ options/health benefits for​ baristas, triple-filtrated​ water, and a totally integrated system are examples of​ ________ or substantiators within the brand positioning​ bulls-eye.

reasons to buy​ (RTB)

One of the ways to communicate category membership is to​ ________, like when Ford positioned its Freestyle​ automobile, which combined the attributes of an​ SUV, a​ minivan, and a station​ wagon, as a​ "sports wagon."

rely on the product descriptor

In the hotel​ industry, ________ include merchandise for​ sale, free breakfast​ buffets, and loyalty programs.

secondary service features

​STIHL, which manufactures handheld outdoor power equipment that is sold to six independent U.S. distributors and six​ STIHL-owned marketing and distribution centers who sell to a nationwide network of more than​ 8,000 servicing retail​ detailers, is a good example of​ ________.

selective distribution

If a hospital brochure shows a beautiful room but a patient checking into an actual room finds it cheap and tacky​ looking, it represents a gap between​ ________.

service delivery and external communications

The​ seller's ability to fix a machine quickly or at least provide a loaner is an example of the​ seller's ________.

service dependability

The answer to the question​ "Was the surgery​ successful?" represents the​ ________ aspect of​ ________, one of the three broad areas of service excellence.

technical​ quality; interactive marketing

​________ is an effort by one organization to win the support of the leaders of another by including them in advisory​ councils, boards of​ directors, and the like.

​Co-optation

The firm may also choose to score the potential segment using the criteria developed by Michael​ Porter, which determines the intrinsic​ long-run attractiveness of a market or market​ segment, industry​ competitors, potential​ entrants, substitutes,​ buyers, and suppliers. These criteria make up the​ __________.

​Porter's Five Forces Analysis

Many​ person-to-person interactions are being replaced with​ ____ to increase the convenience of the interaction.

​Self-service technologies

The marketing funnel is used to break down consumers into different​ ____________________ stages.

​buyer-readiness

Very large firms like​ Microsoft, General​ Motors, and​ Coca-Cola can undertake a​ _____________________ strategy, covering the whole market either through differentiated or undifferentiated marketing.

​full-market coverage

When the seller absorbs part or all of the risk of a​ purchase, in the event the purchase does not deliver the full promised​ value, what type of pricing is being​ used?

​gain-and-risk-sharing pricing

When Japanese teenagers carry DOCOMO phones from NTT and use them to order​ goods, they are engaged in​ ________.

​m-commerce

When​ Coca-Cola licenses bottlers in various markets that buy its syrup concentrate and then​ carbonate, bottle, and sell it to retailers in local​ markets, it is engaged in a​ ________.

​manufacturer-sponsored wholesaler franchise

If Musicale demonstrates the benefits of using its compact discs for data storage in addition to music storage as a way to encourage its current customers to buy more of its existing product​ offering, it is using a​ _______________________________.

​market-penetration strategy

A​ supply-side strategy that can produce a better match between service demand and supply is​ ________.

​peak-time efficiency

Which is not a customer touch point for Zappos?

Store front

Radion6's executives discuss which of the following trends at length in the video?

Communication revolution

When learning about how organizational buyers​ buy, what marketing management activity is taking​ place?

Connecting with customers

What has expanded​ information, communication, and mobility enabled consumers to​ do?

Make better choices and share their preferences and opinions with others around the world.

What is the second phase of the value creation and delivery​ sequence?

Providing the value

When a company identifies the​ industry, range of products and applications it will​ supply, the type of market or customers a company will​ serve, and/or the vertical sphere in which it will​ participate, it is fulfilling which of the following characteristics of a good mission​ statement?

The major competitive spheres in which the company will operate

Jordan oversees the departmental activities that include​ researching, developing and launching​ new, high-quality offerings quickly and within budget. With which process is her job most closely​ aligned?

The new-offering realization process

What concept claims that if consumers are left​ alone, they​ won't buy enough of an​ organization's product?

The selling concept

Defining the Problem You hold a meeting with the head of marketing and various VPs in order to define the main thrust of research. Which of the followingquestions would best serve TriState Dairies at this time?

YOU CHOSE OPTION 1 Can we use up our surplus capacity most usefully by producing flavored milks? You defined the problem well, realizing that TriState's major problem is how to use the surplus capacity.

Defining the Research Objectives After defining the problem that Marketing wants solved, you need to determine the main objective of the research. Which of thefollowing research directions would best serve to provide an answer to the business problem that you decided upon?

YOU CHOSE OPTION 1 Research into which customers would be interested in buying flavored milk.

PlanetFeedback.com is an example of​ a(n) ________, which is one of the five main ways marketers can research​ competitors' product strengths and weaknesses online.

customer complaint site

Deciding What Secondary Sources To Use Having decided what you want to research, you now must decide what sources to use to gather your data. The following secondaryresources are available. Which will you choose to use? Bear in mind that using in-house databases has very little cost, while using thecommercial database will incur considerable expense.

YOU CHOSE OPTION 1 Use of in-house databases that show trends in the sales of all TriState's pasteurized milk products over the last 10 years. It was a good idea to use TriState's internal data as a start for your research as it is low cost and may suggest useful avenues for you toexplore.

Research Approaches Having chosen to use a survey to obtain descriptive data on consumers and their drink preferences, you now need to decide how tocontact consumers. You want to gather a large quantity of data fairly quickly, while not incurring high costs. How will you collect thisdata?

YOU CHOSE OPTION 2 Telephone interviews Personal interviews would have gathered a lot of data quickly, but it was an expensive option.

​Normally, the lower the​ ________ (the index of brand sales to category​ sales), the higher the marketing opportunity in that there is room to grow the brand.

brand development index

The markets that consist of mass consumer goods and services such as​ juices, cosmetics, athletic​ shoes, and air travel are called​ _____________________ markets.

consumer

The force where customers show less brand​ loyalty, more​ price, quality​ sensitivity, and lower tolerance for undesired marketing is​ ___________________________.

consumer resistance

Companies who link activities between multiple departments to make sure that​ value-chain processes flow smoothly into one another use​ _____?

cross-functional teams

Which of the following suggests that prospects are abandoning a​ firm?

defection

The entities that include billions of​ fresh, canned,​ bagged, and frozen food products and millions of​ cars, refrigerators, and televisions are​ __________.

goods

The​ __________________________ concept is based on the​ development, design, and implementation of marketing​ programs, processes, and activities that recognize their breadth and interdependence.

holistic marketing

Drug maker Roche supplies their sales teams with​ _____ to support input real time​ data, improve quality of the data and decreasing time spent on those​ tasks?

iPads

When Warner Music Group and Sub Pop Records created the Alternative Distribution Alliance in 1993 as a joint venture to distribute and manufacture records owned by independent​ labels, they engaged in a​ _____________________ alliance.

logistics

The fact that Norway bans sales​ promotions, such as trading​ stamps, contests, and​ premiums, is considered in a review of the​ ________ environment.

political-legal environment

Radian6's CEO LeBrun pointed out that push and interruption-based marketing no longer work as well, which indicates companies should ___________________________.

respond to trends affecting the consumer-buying environment

In the statement​ "Volvo develops its cars for buyers to whom safety is a major​ concern, positioning the vehicles as the safest a customer can​ buy," the buyers to whom safety is a major concern are the​ ___________________.

target market

When a company concentrates its marketing and distribution effort on the East​ Coast, it is focusing on the​ ________, which is the part of the qualified available market the company decides to pursue.

target market

The desire to eat a Philly​ cheesesteak, whether or not you are in the position to buy​ one, is an example of a​ __________________.

want

Question Number 5) Marketing communications are the means by which firms attempt to​ inform, persuade, and remind consumers about the products and brands they sell. Which of the following is an example of marketing communication that Jones Soda​ uses?

Direct marketing

In a​ ________, the​ producer, wholesaler(s), and​ retailer(s) act as a unified system.

vertical marketing system​ (VMS)

When consumers are characterized as​ preservers, makers,​ takers, changers,​ seekers, or​ escapers, this is because these reflect their​ ________.

views of society

When would pricing cues such as sale signs and prices that end in​ "9" be less meaningful for​ consumers?

when consumers are experienced in the category

When it comes to points of​ parity, there is a​ ________ or acceptance that the brand is​ "good enough" on a​ dimension, even if it is not seen as equal to​ competitors, that a product must be within for consumers to base their evaluations on other factors that might be more favorable to the brand.

zone of tolerance

​________ is the art of anticipating what buyers are likely to do under a given set of conditions.

Forecasting

Marketers are interested in how consumption patterns vary across countries and within countries. For​ example, which country has the highest consumption of wine on a​ per-capita basis?

France

Now that you have identified the anti-aging cream line as a star, you must decide what role this product line will play in the future of Holden Evan. Choose the best strategy for this line.

Hold: Invest enough money to keep the current market share

When Henry Ford introduced the​ Model-T in only one​ color, his action epitomized which marketing​ strategy?

Undifferentiated marketing

When a manufacturer wants to earn a specific percent on​ sales, what should be determined to calculate the sale​ price?

Markup price

Even though your research shows a continuing high interest in British fashion across a wide demographic, you have a nagging concern as to whether Swazzi could win against the competition that has arisen.

No. Swazzi's high end clothing line of silks and suede is sufficiently differentiated such that any impact by a competitor would be negligible. FEEDBACK This was the best answer because Swazzi's planned Carnaby Street line will be substantially different from the printed cottons planned by the department store chain and can be positioned accordingly.

Which of the following is least likely to support the effectiveness of the​ MBO?

Objectives should reflect wishful thinking.

Which element of the​ trade-relations mix identifies discounts and allowance for​ intermediaries?

Price policy

In​ 2008, Sony BMG Music Entertainment agreed to pay​ $1 million as part of a settlement under what​ premise?

COPPA

The process by which holistic marketers efficiently create more promising new value offerings is​ ____________________.

value creation

​A(n) ________ is a system of partnerships and alliances that a firm creates to​ source, augment, and deliver its offerings.

value network

Among the best practitioners of​ ________, or charging a fairly low price for a​ high-quality offering, are​ IKEA, Target, and Southwest Airlines.

value pricing

Outlining forms of distribution is covered in which section of the marketing​ plan?

Marketing tactics

CH4 Simulation

Background TriState Dairies is a food processor that packages and sells dairy products. At present their core business is selling 1) pasteurized,skimmed, and plain milk, and 2) yogurts and yogurt drinks. They want to expand their market, particularly for milk. They can easilyconvert surplus milk production to the production of flavored milks. At the moment the flavored milks sales overall are low and themarket small. The bulk of flavored milks are sold to parents who buy them for children. The marketing department thinks that there maybe untapped markets for flavored milks in adults. In particular they think that it will be possible to sell milk to health-conscious adults as ahealthier alternative to soda and energy drinks. TriState wants to know if this idea could work. Your role is that of a manager within the market research department. You have been tasked with gathering the data

You realize that there may be another way of measuring the success of the current campaigns. Taking another look at this chart, which campaign is generating the highest number of clicks per dollar spent?

C You identified campaign C as the one generating the most clicks per dollar spent. This was the best choice. Campaign C cost $1750 and generated 2000 clicks. This amounted to 1.14 clicks per dollar spent, which was the highest amount. Click Next to continue.

Which of the following meets each​ customer's requirements—to prepare individually designed​ products, services,​ programs, and​ communications?

Conducting mass customization

According to the concept of Marketing​ 3.0, successful marketing is distinguished by its human or emotional​ element, and has resulted in​ values-driven marketing. Which of the following least supports the central trends of​ values-driven marketing?

Consumer-centric marketing models

Question Number 1) We can classify the vast array of consumer goods on the basis of shopping habits. Which classification best describes Jones Soda?

Convenience goods

Major cell manufacturers have released phones with digital photo and video capabilities and GPS. This is an example of​ what?

Converging industry trends to introduce hybrid products that are new to the market

Trends in the natural environment for marketers to be aware of include the shortage of raw​ materials, the increased cost of​ energy, increased pollution​ levels, and the changing role of governments.​ ________ recognizes the need to integrate environmental issues into the​ firm's strategic plans.

Corporate environmentalism

Five more years have passed, and all hot sauces - Burnin' Rock as well as its competitors - are experiencing declining sales. Market research suggests that hot sauce is no longer popular and is not likely to come back into fashion. Sales are down to $22 million per year, and profits are down to $2 million per year. What should you do? Select an option from the choices on the right.

Cut costs such as advertising to a minimum so as to realize the maximum profit from Burnin' Rock's declining years.

Question Number 5) ZipCar uses cutting edge wireless technology combined with sophisticated data management and security techniques to assure that its promises of spur-of-the-moment car sharing is ________, streamlined, and safe.

Dependable

What would be the best way to entice users to visit the site?

Develop good word-of-mouth through reviews and publicity.

Question Number 2) When deciding on how to brand its product, which of the following best describes Le Tourment Vert's strategy?

Develop new brand elements.

Developing specific goals for the planning period is part of what​ activity?

Goal formulation

You must now choose the retailer you want to sell your new handbag line. Choose the retailer that best suits your pricing strategy.

Graceline, a popular online retailer that is known for selling expensive products at cheaper prices. FEEDBACK You chose to sell the Bien Tote bags through the Graceline online site. This was a good choice for your chosen price and target market. Click Next to continue.

Question Number 1) After a company has chosen a channel system, it must select, train, motivate, and evaluate individual intermediaries for each channel. It must also modify channel design and arrangements over time. As the company grows, it can also consider channel expansion into international markets. Which of the following statements about Harley Davidson is true?

Harley Davidson products are available globally.

Which approach would be most useful in testing a product image for Carnaby Street?

Having models walk through selected stores, and then employees ask customers about their reactions.

You begin your sales of the readymade rods. Unfortunately, HentonCast's existing stores are angry that they are not allowed to sell the rods. What is your best response?

Hold a meeting with the HentonCast store directors, explaining your decision. FEEDBACK You chose to hold a meeting with HentonCast store directors, explaining your decision. This was a good choice because addressing the store directors would give them a chance to hear why the decision was made and would be the best option to gain their acceptance of the strategy.

Now that you have divided the market into segments, what should be your next step?

Identify the market segment or segments to target.

You move on to evaluate the choices in terms of HentonCast's control goal of managing the customer experience. Everyone on your team has a different opinion, but you must make the final choice

If we sell through high-end specialty shops, we would be able to work with the shops to train staff and present our rods. The wider market these shops afford is worth some loss of control.

You call a meeting to evaluate the three alternatives. First, you look at the choices in terms of HentonCast's economic goals of maximizing revenue and profit. Everyone on your team has a different opinion, but you must make the final choice. Which argument is most compelling?

If we sell through high-end specialty shops, we would have to invest, but in return we could charge high prices and give consumers a high quality shopping experience and product.

You move on to evaluate the choices in terms of HentonCast's goal of adapting to changes in the market. Everyone on your team has a different opinion, but you must make the final choice.

If we sell through high-end specialty shops, we would have to make some long-term commitments. However, it would be worth it to provide what our customers want.

What is the best evidence that your web site is accomplishing its goals?

Increased numbers of Swazzi customers buying outfits inspired by the interactive features on the site

Question Number 3) How did Jones Soda involve the consumer in advertising for Jones​ Soda?

Jones Soda allows consumers to upload pictures on its Web site with the chance that their picture could be picked as a label for a Jones Soda bottle.

Question Number 1) Some companies use a celebrity to draw attention to its product or brand quickly. Which of the following is a true statement about using a celebrity to market Jones​ Soda?

Jones Soda could create its own fictitious celebrity.

Virgin America Airlines has relied on PR, word-of-mouth, social media, and exemplary customer service to create an extraordinary customer experience and build the brand. Which best describes the relationship between Virgin America and Le Tourment Vert?

Le Tourment Vert is an asset to Virgin America.

You have now considered several factors related to pricing. However, because this is a new product, you consider adjusting the price more in order to help it become profitable. Which is the better way to adjust the pricing?

Market Penetration Pricing: Charge a lower price in order to gain market share.

Which of the following represents the challenge for marketers given new marketing​ realities?

Marketers need to balance old and new marketing techniques and provide demonstrable evidence of success.

Which of the following definitions of marketing is an example of a social definition of​ marketing?

Marketing is a societal process by which individuals and groups obtain what they need and want through​ creating, offering, and freely exchanging products and services of value with others.

The age cohort that was raised with relative​ affluence, is technologically plugged​ in, is concerned with the environment and social​ issues, and shares a strong sense of independence and a perceived immunity from marketing is known as​ ___________________.

Millennials

It's five years later, and sales have reached a plateau. The product is clearly in the maturity stage. What should you do to increase sales?

Modify the market by finding new users for the product.

Your next step will be to identify the major retailing and wholesaling channels that HentonCast might use, and then evaluate them in terms of consumer needs and HentonCast's priorities. Members of the company have submitted suggestions to you for possible channels. Examine the arguments for each alternative, and select three for your team to evaluate. Click on the icons to learn more about each option. Place a checkbox next to the three options you think are best and click Submit.

Option 3: Sell in sporting goods chains and department stores If we sell online, we will reach modern customers who want to research before they buy. We will also be able to sell directly to the customers and avoid dealing with intermediaries. Option 2: Sell in high-end specialty shops If we sell through high-end specialty shops, we will be able to provide a positive buying atmosphere and expert staff for our customers. Option 1: Sell in existing HentonCast stores If we sell through existing HentonCast stores, we will build on already-existing relationships. We will have trained staff already in place, and will avoid channel conflict that might arise if we

Given the​ breadth, complexity, and richness of marketing in holistic​ marketing, three additional Ps were added to the traditional four Ps of marketing.​ _____________________ is one of the new Ps and describes the​ firm's internal marketing and the fact that marketers must view consumers as people to understand their lives more broadly.

People

You go back to thinking about retail price during the screening discussion. You aren't really able to talk about profit without also discussing price, costs, and break even unit demand. You are going to have to tell the Head Designer that price must be brought back into the discussion. What is the best reason you can provide for considering price at the screening stage?

Price is crucial to determining profit. If a new product will ultimately prove to be unprofitable, you want to find that out as soon as possible.

question Number 5) Le Tourment Vert has numerous tips for presenting the brand to the consumer. Which of the following does not affect how Le Tourment Vert presents its brand to consumers?

Pricing

Having selected a strategy for anti-aging cream, you review this strategy with the President. She asks you to develop plans for the next steps to grow the business for this existing product line.Your team members have different opinions on what next step the company should take. Review their advice, and decide what growth opportunity you would recommend.

Product development for the anti-aging cream was a good choice but not necessarily the best one. Offering modified products could help maintain or enhance your favorable position. However, this may be risky, especially as customers might not want to buy the same product several times over.

Question Number 4) Live Nation looks at competition as any place consumers might spend their entertainment​ dollar, but focuses on live music. What niche specialization does this make Live​ Nation?

Product-feature specialist

Question Number 3) Attending concerts is expensive. What does Live Nation do to try to make concert-going accessible to all?

Promotional offers

Question Number 5) Many pitfalls exist in global expansion, and retailers must also be able to defend their home turf from the entry of foreign retailers. Harley Davidson learned the hard way when it was not paying close attention to what was going on all of its foreign markets. Which of the following is a true situation that Harley Davidson had to defend itself?

Scandinavian advertisers took the "bad boy" image of Harley Davidson to the extreme by placing ads that looked like they come from a separate company and that the company would not want to be associated with. The ads embarrassed the company.

A recent ad buy at Antler Pacific, a popular website for outdoor adventurers, has been producing strong results during the past three months. Your terms with the website are expiring, and the website wants to lock you into a long-term contract based on these results. What argument, if true, would be a good reason NOT to continue the ad campaign at this website, despite its recent success? Select an option from the choices on the right.

Select "OPTION 1The sales results are based on the website's seasonal peak season of activity."Click "Next"

What is the best reason for your choice?

Smoothsayer is more expensive than its competitor, but gives higher value for money. You justified your chosen slogan on the grounds that Smoothsayer was more expensive but gave higher value for money. This was the best choice.

Question Number 2) All of the following are forces that drive companies like Meredith to practice a higher level of corporate social responsibility. Which one is not a driving force?

Social media

Which team at Strawberry Frog of the following groups converts ideas to final products?

creative development and production

In your experience the clientele of the Western Division stores seem to be the most finely attuned to upcoming trends. You ask the Flagship Store Manager to suggest a product image for the Carnaby Street line, focusing on the mini-dress, which is an all-weather light wool blend with a taffeta lining and hand-edged piping. The Manager comes up with these three product images: Manager speaks: 1. "Classic elegance from a simpler time."2. "From your best boutique."3. "Stylish practicality." How do you determine the effectiveness of the potential product images? Select the best answer from the choices on the right.

Test the product image. FEEDBACK Testing the product image was the best option.

Which of the following best describes accessibility in a​ consumer-centric marketing management​ framework?

The extent to which consumers are able to readily acquire a product

Vanessa Dolan is an account manager at Strawberry Frog. What specific aspect of her job does she describe as the most​ challenging?

The need to be tactful when working with both creatives and clients

Which best describes customer lifetime value (CLV) for Zappos?

The net present value of the stream of future profits expected over the customer's lifetime purchases

An additional ad campaign for high-end Swazzi clothing is featured in both the print and online versions of Dangerfield Weekly, an influential business magazine. Although Swazzi spends a lot of money to advertise here, sales data suggests that this ad campaign has not directly generated sales. Which argument, if true, would be the best argument for keeping it?

This publication gives Swazzi prestige and brand awareness.

When are buyers more price​ sensitive?

When buyers can store the product

Where pricing is a key competitive factor​ (aerospace, railroads, and oil​ companies), companies often establish a pricing department to set or assist others in setting appropriate prices. According to​ research, in​ B-to-B settings, pricing performance improves under what​ circumstances?

When pricing functions are spread horizontally across the​ sales, marketing, and finance units

Market segmentation divides a market into well-defined slices. A market segment consists of a group of customers who share a similar set of needs and wants. The marketer's task is to identify the appropriate number and nature of market segments and decide which one(s) to target. Which of the following is the market that Meredith Corporation targets?

Women

Deciding What Primary Sources To Use Having decided what secondary sources you will use, you now need to decide whether you elect to use any primary sources forobtaining data. This will involve setting up targeted research to answer the questions that you need answered. Note that this researchwill be carried out in-house by the market research department, but will be quite expensive

YOU CHOSE OPTION 1 You will use the research department to gather data relevant to the research objectives you have set. It was a good choice only to use secondary data for your data. Secondary data should provide the information you need for your statedresearch objective at lower cost than primary research by your department.

Research Approaches Having decided to use primary sources to obtain data, you need to decide what sort of primary sources you will use. The following threeoptions are suggested by your researchers within the market research department. Choose the one that you think best suits yourresearch objectives.

YOU CHOSE OPTION 2 Performing a survey that targets consumer knowledge, attitudes and preferences towards the drinks currently available. Experiments determine causal relationships. This would be appropriate if you were trying to determine how best to market flavored milkto a group of customers. However, at this stage you are trying to establish whether such a market exists.

Questionable Questions You have worked within the research department to implement the research plan. Your team has gathered the data, checked it foraccuracy and coded it for analysis. How should you present your findings so that the marketing department can best use them?

YOU CHOSE OPTION 2 Present only those important insights and findings that you think will be useful in the major decisions made by management. Your findings were well presented. You presented the most important information to assist in decision-making.

Research Approaches When making up the questionnaire you decide to include a question that will allow you determine how many single-serving drinks a userpurchases annually. Which of the following questions should you include in the survey in order to accurately discover this information?

YOU CHOSE OPTION 3 How many single-serving drinks did you purchase last week? You wrote your survey questions well, bearing in mind that consumers remember what they have done in the short term. You canmultiply the number of drinks they bought last week by 52 to obtain an estimate of annual drink purchases.

Defining the Research Plan You are now tasked with developing a research plan that would best support the research objectives that you have just chosen. Youconsider your options and narrow them down to the following three.

YOU CHOSE OPTION 3 Research into whether consumers are aware that flavored milk has many health benefits and is in many ways superior to alternativerefreshments.

Before marketing Smoothsayer beauty cream, you must determine the target demographic for this product. To do this, evaluate the overall market and divide it into segments that will help you define your target audience. Gender is one segmentation variable you will use. Choose two more segmentation variables that will help you to effectively analyze the market for this product.

You chose gender, age and skin care habits as your segmentation variables. This was a good choice because all of these variables are relevant when marketing an anti-aging beauty cream.

Question Number 3) You live in a foreign country and you are a Harley Davidson motorcycle owner. Which of the following would best describe you?

You could have either had the bike shipped or you could have purchased it in a foreign country

​McDonald's "Food,​ Folks, and​ Fun"; Nike's​ "authentic athletic​ performance"; and​ Disney's "fun family​ entertainment" are examples of​ ________.

brand mantras

When PepsiCo determines the​ bottled-water competitors for its Aquafina brand by identifying the products or sets of products with which a brand competes and which function as close​ substitutes, it is determining​ Aquafina's ________.

category membership

Which method of measuring forecast and demand multiplies a base number by several​ percentages?

chain-ratio method

As Radian6 listens to online consumer conversations and engagement, they are able to discern buying behaviors that are influenced by levels of _____________________.

cognitive involvement

The market potential is equal to the​ ________, or the sales limit approached by company demand as company marketing effort increases relative to that of​ competitors, if the company gets​ 100% of the market.

company sales potential

The​ ________ defines which other brands a company competes with​ and, therefore, which brands should be the focus of competitive analysis.

competitive frame of reference

If a​ hospital's administrators think patients want better​ food, but patients want better nurse​ responsiveness, it represents a gap between​ ________.

consumer expectations and management perception

The horizontal dimension in the VALS framework is​ ________________________.

consumer motivation

One of the weaknesses of using surveys to estimate the demand curve is​ ________.

consumers exaggerate their willingness to pay for new products and services

Question Number 5) To coordinate the many tasks of launching a new product, management can use network-planning techniques such as ________, which develops a master chart showing the simultaneous and sequential activities that must take place.

critical path scheduling

ESPN Zone restaurants tap into competitive​ masculinity, and American Girl dolls tap into the​ mother-daughter relationship and the​ cross-generational transfer of femininity. These are examples of​ ________.

cultural branding

The three criteria that determine whether a brand association can truly function as a point of difference are​ desirability, ________, and differentiability.

deliverability

A​ demand-side strategy that can produce a better match between service demand and supply is​ ________.

differential pricing

The most advanced​ supply-distributor arrangement for administered vertical marketing systems relies on​ ________, which builds a​ planned, professionally managed VMS that meets the needs of both manufacturer and distributor.

distribution programming

When firms develop sales forecasts on the basis of past sales by projecting the next​ period's sales by combining an average of past sales and the most recent​ sales, giving more weight to the​ latter, they are using​ ________.

exponential smoothing

The primary explanation for​ Marlboro's extraordinary worldwide market share​ (around 30%) is that its​ "macho cowboy" image has struck a responsive chord with much of the​ cigarette-smoking public, which is an example of​ ________.

image differentiation

The​ _______________ segment of the U.S. premium wine market skews​ male, has an average age of​ 35, and uses wine as a badge to say who they​ are, so they are willing to pay more to make sure that they get the right bottle.

image seekers

The​ ________ dimension of brand experiences evaluates whether consumers engage in a lot of thinking when they encounter the brand and whether the brand stimulates curiosity and problem solving.

intellectual

If a calculator company produces​ 100,000 hand calculators at a cost of​ $10, but the cost drops to​ $9 when it produces​ 200,000 and​ $8 when it produces​ 400,000 hand​ calculators, the decline in average cost with accumulated product experience is called the​ ________.

learning curve

When Microsoft extended its operating system to Microsoft Office and then to networking​ applications, it was using​ a(n) ________.

leverageable advantage