MKT 3000 Final

After the firm has piqued the interest of its target market, the goal of subsequent IMC messages should move the consumer from "I like it" to A. "I want it." B. "I am aware of it." C. "What is it?" D. "I know what it is." E. "I need more information."

A. "I want it."

_____ power is when one channel member threatens to punish or punishes another channel member for not undertaking certain tasks, such as delaying payment for a late delivery. A. Coercive B. Information C. Referent D. Expertise E. Legitimate

A. Coercive

Which of the following is the first step in planning and executing an advertising campaign? A. Identify the target market. B. Determine the advertising budget. C. Set the advertising objectives. D. Convey the message. E. Create the advertisements.

A. Identify the target market.

_____ power is exhibited when one channel member wants to be associated with another channel member; the channel member with whom the others want to be associated has the power to get them to do what they want. A. Referent B. Legitimate C. Coercive D. Expertise E. Information

A. Referent

A _____ orientation explicitly invokes the concept of value such as when a firm uses a "no-haggle" pricing structure to make the purchase process simpler and easier. A. customer B. profit C. competitor D. sales E. market

A. customer

People who are considered "innovators" in that they are willing to pay a higher price to obtain a new product or service, would likely not object to a _______ strategy. A. price skimming B. price fixing C. price lining D. bait-and-switch pricing E. predatory pricing

A. price skimming

Supply chain management refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their manufacturers, warehouses, transportation intermediaries, stores, and A. suppliers. B. customers. C. buying centers. D. competitors. E. top-level executives.

A. suppliers.

The highest level of awareness is A. top-of-mind awareness B. aided recall. C. brand awareness. D. interest. E. lagged effect.

A. top-of-mind awareness

If a sponsored link was delivered 100 times and 10 people clicked on it, then the number of impressions is 100, the number of clicks is 10, and the click-through-rate would be A. 15 percent. B. 1 percent. C. 10 percent. D. 100 percent. E. 0 percent.

C. 10 percent.

As a means to reach large numbers of anonymous audience members, USA Today newspapers are considered to be which of the following types of media? A. Utilitarian media B. Mass media C. Niche media D. Emotional media E. Transatlantic media

B. Mass media

Which of the following represents the most fundamental difference between a product and a service? A.Heterogeneity B. Tangibility C. Perishability D. Serviceability E. Inseparability

B. Tangibility

When companies enter into agreements that allow them to obtain economies of scale and coordination to reduce conflict, it is an example of A. legitimate power. B. a contractual vertical marketing system. C. an administered vertical marketing system. D.a corporate vertical marketing system. E. information power.

B. a contractual vertical marketing system.

Purchase data collected at the point of sale are stored in A. JIT inventory management systems. B. data warehouses. C. ASN documents. D. electronic data interchanges. E. RFID tags.

B. data warehouses.

As a type of sales promotion, _____ encourage trial and reduce consumer risk, although they may negatively impact perceptions of brand value. A. premiums B. deals C. samples D. coupons E. rebates

B. deals

A _____ offers an item for free or at a bargain price to reward some type of behavior, such as buying, sampling, or testing. A. rebate B. premium C. POP display D. loyalty program E. sweepstakes

B. premium

For _____ to work, the product or service must be perceived as breaking new ground in some way, offering consumers new benefits currently unavailable in alternative products. A. penetration pricing B. price skimming C. price lining D. loss leader pricing E. price fixing

B. price skimming

Variable costs are affected by A. marketing outlays. B. production levels. C. contribution per unit. D. the break-even point. E. profit margins.

B. production levels.

Stores are limited by their _____, which is generally not an issue when shopping on the Internet. A. inability to accept cash payments B. size C. ability to reduce shopper's perception of risk D. sales staff E. ability to provide a social experience

B. size

The _____ gap pertains to the difference between the firm's perceptions of customers' expectations and the service standards it sets. A. knowledge B. standards C. delivery D. communication E. ethical

B. standards

Most service firms today have developed _______ programs, which collect customer inputs and then integrate them into managerial decisions. A. zone of tolerance B. voice-of-customer C. instrumental support D. standards gap E. distributive fairness

B. voice-of-customer

_____ employs irregular but not necessarily illegal methods; generally, it legally circumvents authorized channels of distribution to sell goods at prices lower than those intended by the manufacturer. A. A black market B. A price war C. A gray market D. Pure competition E. A monopoly

C. A gray market

Marta estimates that the fixed costs associated with opening her new hair salon are $100,000. She expects the salon to attract 500 new customers in the first year, each of which will cost $25 to service. Marta expects to generate $50,000 per year in revenue. For Marta, the total cost of opening her hair salon and staying in business for one year will be A. $87,500. B. $150,000. C. $112,500. D. $100,000. E. $50,000.

C. $112,500.

_____ is an electronic document sent by a supplier to a retailer prior to the shipment of a merchandise order. A. A merchandise shipping confirmation B. A universal product code C. An advanced shipping notice D. A radio frequency identification tag E. An electronic data interchange

C. An advanced shipping notice

What factors are used in the rule-of-thumb methods to determine the communication budget? A. Type of media and its associated cost B. Market share and gross profit C. Prior sales and communication activities D. Gross profit and type of media E. Communication objectives and target audience

C. Prior sales and communication activities

Which of the following explains why the demand for Blu-ray discs increases when the demand for Blu-ray players increases? A. The substitute products effect B. The income effect C. The complementary products effect D. The substitution effect E. Cross-price elasticity

C. The complementary products effect

_______ is an approach for improving marketing channel efficiency in which the manufacturer is responsible for maintaining the retailer's inventory levels in each of its stores. A. EDI B. ASN C. VMI D. UPC E. JIT

C. VMI

Medical professionals often hang framed copies of their educational accomplishments in order to convey their competence in their field, thus addressing the _____ dimension of service quality. A. reliability B. responsiveness C. assurance D. empathy E. tangibles

C. assurance

To create strong partnering relationships, supply chain members must develop mutual trust, openly communicate, have common goals, recognize the benefits of interdependence, and A. set out to make the most profits. B. maximize the profitability of the largest channel member. C. be willing to invest in each other's success. D. maximize market share. E. minimize transportation expenditures for suppliers.

C. be willing to invest in each other's success.

When choosing retail partners, a high-end cosmetics manufacturer like Estée Lauder would most likely not choose to sell to CVS or Dollar General due to A. distribution intensity. B. networking capabilities. C. customer expectations. D. channel member characteristics. E. channel structure.

C. customer expectations.

Personalized e-mail marketing is an online, passive form of persuasive communication and would be classified as an example of A. advertising. B. public relations. C. direct marketing. D. personal selling.

C. direct marketing.

The "Beef, It's What's for Dinner" campaign to encourage beef consumption is an example of _____ advertising. A. attribute-based B. public service C. institutional D. product-focused E. relational

C. institutional

The _____ method determines the budget required to undertake specific tasks to accomplish communication objectives. A. competitive parity B. task C. objective-and-task D. available budget E. rule-of-thumb

C. objective-and-task

With regard to complaints, _____ refers to the perceived fairness of the process used to resolve them. A. customer service B. distributive fairness C. procedural fairness D. the zone of tolerance E. the standards gap

C. procedural fairness

Retailers may modify product, price, and/or promotion to attempt to increase their _____, which is the percentage of the customer's purchases made from that particular retailer. A. retail position B. consumer position C. share of wallet D. distribution intensity E. share of market

C. share of wallet

Customers can use the Internet to share their opinions about products and services via YouTube, Facebook, and Twitter. In doing so, they can help facilitate the consumer decision process through use of A. free advertising. B. computer-driven shopping. C. social media. D. mobile marketing. E. e-commerce.

C. social media.

Harley Davidson has _____ if a consumer responds "Harley" when asked about American-made motorcycles. prompted recall B. limited recall C. top-of-mind awareness D. interest E. limited awareness

C. top-of-mind awareness

As noted in your text, each participant in a successful marketing channel adds A. overhead. B. inefficiencies. C. value. D. time. E. pricing pressure.

C. value.

Which of the following would qualify as being a service retailer? A. A convenience store B. A drug store C. An off-price retailer D. A health spa E. A supermarket

D. A health spa

_____ indicates that the demand for related products can either be positively or negatively related. A. The income effect B. The complementary products effect C. The supply curve D. Cross-price elasticity E. The substitution effect

D. Cross-price elasticity

Macy's is conducting marketing research to determine whether or not its advertising message could be clearly understood by its customers. This relates to which component of the communication process? A. Communication channel B. Sender C. Receiver D. Feedback loop E. Encoding

D. Feedback loop

Which of the following is not one of the five distinct service dimensions that customers use to evaluate how well a service meets or exceeds their expectations? A. Reliability B. Empathy C. Responsiveness D. Friendliness E. Tangibles

D. Friendliness

_____ tailor their retail strategy toward very specific market segments by offering deep but narrow assortments and sales-associate expertise. A. Warehouse clubs B. Category specialists C. Full-line discount stores D. Specialty stores E. Supercenters

D. Specialty stores

What does it mean when a firm's performance on one of the dimensions of service quality is above the highest point in the zone of tolerance? A. The firm is overcharging for its offerings. B. The firm has achieved its highest level of profitability. C. The firm has the opportunity to reach new customer segments. D. The firm has exceeded customer expectations on that dimension. E. The firm has fallen short of meeting customer expectations on that dimension.

D. The firm has exceeded customer expectations on that dimension.

The international fashion retailer Zara's parent company, Inditex, owns the manufacturing plants, warehouse facilities, retail outlets, and design studios, which is an example of A. an administered vertical marketing system. B. a vertical marketing system. C. a contractual vertical marketing system. D. a corporate vertical marketing system. E. an independent marketing channel.

D. a corporate vertical marketing system.

A brand that is developed by a national brand vendor, often in conjunction with a retailer, and is sold exclusively by the retailer is referred to as A. a co-op brand. B. a category specialist. C. a category killer. D. an exclusive brand. E. a selective brand.

D. an exclusive brand.

The _____ gap refers to the difference between the actual service provided to customers and the service that the firm's promotional program promises. A. knowledge B. standards C. delivery D. communication E. ethical

D. communication

J. Crew teaming up with several famous brands, including Belstaff and Timex, to offer exclusive products in the J. Crew stores and on its website is an example of A. sampling. B. POP displays. C. product placement. D. cross-promoting. E. dual marketing.

D. cross-promoting.

Dollar General and Family Dollar stores are small, full-line discount stores that offer a limited merchandise assortment at very low prices, so they would be classified as E. supercenters. B. warehouse clubs. C. specialty stores. D. extreme value retailers. E. category specialists.

D. extreme value retailers.

According to your text, when a customer undertakes a postpurchase evaluation and decides he or she is satisfied, this often leads to A. ambivalence. B. dissonance. C. tolerance. D. loyalty. E. distributive fairness.

D. loyalty.

Firms often use _____ advertising to convince consumers to take action such as switching brands, trying a new product, or even continuing to buy the advertised product. A. push B. reminder C. informative D. persuasive E. pull

D. persuasive

When a firm sets a very low price for one or more of its products with the intent to drive its competition out of business, it is using the illegal practice of A. bait and switch. B. price discrimination. C. deceptive reference pricing. D. predatory pricing. E. loss leader pricing.

D. predatory pricing.

To support the other promotional efforts, firms use _____ to generate "free" media attention. A. advertising B. personal selling C. direct marketing D. public relations E. sales promotion

D. public relations

The _____ enforces truth in advertising laws and defines deceptive and unfair advertising practices. A. Federal Communications Commission B. Federal Communications Committee C. U.S. Postal Service D. Food and Drug Administration E. Federal Trade Commission

E. Federal Trade Commission

_______ offer an inconsistent assortment of brand-name merchandise at a significant discount from the manufacturer's suggested retail price. A. Category specialists B. Warehouse clubs C. Department stores D. Extreme-value retailers E. Off-price retailers

E. Off-price retailers

As the marketing vice president of her firm, Jana is considering implementing a company-wide pricing policy that all products must achieve a target profit margin of 15 percent so the firm can achieve its overall growth objectives. What type of company objective is this? A. Competitor orientation B. Market orientation C. Customer orientation D. Sales orientation E. Profit orientation

E. Profit orientation

Coppertone uses a _____ advertising schedule, where it advertises heavily in the months leading up to and during the summer, with no advertising after the season ends. A. continuous B. pulsing C. seasonal D. status quo E. flighting

E. flighting

Walmart, Target, and Kmart offer a broad variety of merchandise, limited service, and low prices, which would classify them as A. supercenters. B. category specialists. C. department stores. D. specialty stores. E. full-line discount stores.

E. full-line discount stores.

Offering live, online chat options to shoppers is a way of increasing the value of online shopping because it provides A. deeper and broader selection. B. enhanced browsing. C. entertainment value. D. personalized offerings. E. personalized customer service.

E. personalized customer service.

IKEA advertises throughout the year, but significantly increases its advertising during the back-to-school time frame, thus implementing a _____ advertising schedule. A. flighting B. seasonal C. continuous D. status quo E. pulsing

E. pulsing

Dr. Winwood's dental office staff makes sure the waiting room is clean and that the magazines are current and accessible to patients, thus addressing the _____ dimension of service quality. A. reliability B. responsiveness C. assurance D. empathy E. tangibles

E. tangibles