MKT 340 Final Exam Review

Which of the following describes a salesperson?

An individual who represents a company to customers by performing the activities of prospecting, communicating, selling, servicing, information gathering, and relationship building

__________ is the sales step in which a salesperson meets the customer for the first time.

Approach

__________ is a principle of sustainable marketing that requires a company to seek real product and marketing improvements.

Innovative marketing

________ refers to a sales force organization in which salespeople specialize in selling only a portion of the company's products or lines.

Product sales force structure

Preapproach is the sales step in which a salesperson __________.

learns as much as possible about a prospective customer before making a sales call

PR departments may perform many functions, including ________, which is building and maintaining relationships with legislators and government officials to influence legislation and regulation.

lobbying

High geographic and demographic selectivity is an advantage of __________.

magazines

Straight product extension involves __________.

marketing a product in a foreign market without making any changes to the product

Flexibility is an advantage of ________.

newspapers

The __________ method sets the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price.

percentage-of-sales

An inside sales force is ________.

salespeople who conduct business from their offices via telephone, online and social media interactions, or visits from prospective buyers

Direct-mail marketing involves __________.

sending an offer, announcement, reminder, or other item directly to a person at a particular address

Designing international channels that take into account the entire global supply chain and marketing channel, forging an effective global value delivery network is known as __________.

the whole-channel view

Which term refers to an online forum where people and companies post their thoughts and other content, usually related to a narrowly defined topic?

A blog

Which of the following presents brand content that engages consumers and creates customer community around a brand?

A brand community website

Which of the following describes internet fraud?

A broad category that encompasses identity theft and financial scams

Which of the following describes adapted global marketing?

A global marketing approach that adjusts the marketing strategy and mix elements to each international target market, which creates more costs but hopefully produces a larger market share and return

Which of the following describes management contracting?

A joint venture in which the domestic firm supplies the management know-how to a foreign company that supplies the capital; the domestic firm exports management services rather than products

Which of the following engages consumers to move them closer to a direct purchase or other marketing outcome?

A marketing website

__________ is a promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that "pulls" the product through the channel.

A pull strategy

__________ is a promotion strategy that uses the sales force and trade promotion to promote the product to channel members, which in turn promote it to final consumers.

A push strategy

What happens in the presentation step of the personal selling process?

A salesperson tells the "value story" to the buyer, showing how the company's offer solves the customer's problems

__________ involves direct marketing through print, video, or digital catalogs that are mailed to select customers, made available in stores, or presented online.

Catalog marketing

Which of the following describes product adaptation?

Changing a product to meet local conditions or wants in foreign markets

__________ is the sales step in which a salesperson asks the customer for an order.

Closing

__________ is a global communication strategy of fully adapting advertising messages to local markets.

Communication adaptation

Which budgeting method sets the promotion budget to match competitors' outlays?

Competitive-parity method

Which of the following describes the societal marketing concept?

Considers the future welfare of consumers

Which of the following describes an advertising strategy?

Consists of two major elements: creating advertising messages and selecting advertising media

__________ is an organized movement of citizens and government agencies designed to improve the rights and power of buyers in relation to sellers.

Consumerism

What is perceived obsolescence?

Continually changing consumer concepts of acceptable styles to encourage more and earlier buying

__________ is a joint venture in which a company contracts with manufacturers in a foreign market to produce its product or provide its service.

Contract manufacturing

Which of the following describes omni-channel retailing?

Creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping

__________ includes practices such as exaggerating package contents through subtle design, using misleading labeling, or describing size in misleading terms.

Deceptive packaging

__________ includes practices such as falsely advertising "factory" or "wholesale" prices or a large price reduction from a phony high retail list price.

Deceptive pricing

__________ includes practices such as misrepresenting the product's features or performance or luring customers to the store for a bargain that is out of stock.

Deceptive promotion

__________ refers to the process by which the receiver assigns meaning to the symbols encoded in the message.

Decoding

__________ give both high immediate satisfaction and high long-run benefits.

Desirable products

__________ refers to entering a foreign market by developing foreign-based assembly or manufacturing facilities.

Direct investment

What is real-time marketing?

Direct marketing that links brands to important moments and trending events in customers' lives

________ is marketing via television, including infomercials and interactive television advertising.

Direct-response television marketing

________ refers to sending highly targeted, highly personalized, relationship-building marketing messages.

Email marketing

Which of the following describes direct and digital marketing?

Engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and to build lasting customer relationships

__________ involves creating a brand-marketing event or serving as a sole or participating sponsor of events created by others.

Event marketing

Which of the following describes e-tailers?

Firms that sell products and services directly to final buyers via the internet

__________ is the sales step in which a salesperson seeks out, clarifies, and overcomes any customer objections to buying.

Handling objections

__________ is an advantage of outdoor media.

High repeat exposure

Which of the following defines social media?

Independent and commercial online social networks where people congregate to socialize and share messages, opinions, pictures, videos, and other content

________ is an economic factor.

Industrial infrastructure

Which term refers to carefully integrating and coordinating the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its products?

Integrated marketing communications

__________ is considered a sociocultural factor.

Language

__________ is entering foreign markets by developing an agreement with a licensee in the foreign market.

Licensing

________ are examples of corporate identity materials.

Logos, stationery, and business forms

__________ is a limitation of magazines.

Long ad purchase lead time

Which of the following describes mobile marketing?

Marketing messages, promotions, and other content delivered to on-the-go consumers through mobile devices

Which term refers to the communication channels through which a message is transmitted?

Media

__________ are media that carry messages without personal contact or feedback.

Nonpersonal communication channels

Which budgeting method develops the promotion budget by 1) defining specific promotion objectives, 2) determining the tasks needed to achieve these objectives, and 3) estimating the costs of performing these tasks?

Objective-and-task method

________ is marketing via the internet using company websites, online ads and promotions, email, online video, and blogs.

Online marketing

Which of the following does a company typically first do when managing their international marketing activities?

Organize an export department

________ involves presentations by the firm's sales force for the purpose of engaging customers, making sales, and building customer relationships.

Personal selling

__________ is a personal presentation by the firm's sales force for the purpose of making sales and building customer relationships.

Personal selling

________ is a specific type of identity theft that uses deceptive emails and fraudulent online sites to fool users into divulging their personal data.

Phishing

__________ is considered a demographic characteristic.

Population size

__________ is building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events.

Public relations

Which term refers to the party getting the message sent by another party?

Receiver

Which of the following describes buzz marketing?

Requires cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities

________ involves analyzing, planning, implementing, and controlling sales force activities.

Sales force management

Which term refers to short-term incentives to encourage the purchase or sales of a product or a service?

Sales promotion

__________ is a short-term incentive to encourage the purchase or sale of a product or service.

Sales promotion

__________ have low immediate appeal but may benefit consumers in the long run.

Salutary products

What is the name for the steps that salespeople follow when selling?

Selling process

__________ is a principle of sustainable marketing that states a company should define its mission in broad social terms rather than narrow product terms.

Sense-of-mission marketing

Which of the following describes the percentage-of-sales method?

Sets the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales pri

__________ uses the telephone to sell directly to customers.

Telemarketing

Which of the following describes personal communication channels?

The channels through which two or more people communicate directly with each other, including face to face, on the phone, via mail or email, or even through texting or an internet chat

Which of the following describes a creative concept?

The compelling "big idea" that will bring an advertising message strategy to life in a distinctive and memorable way

Which of the following describes viral marketing?

The digital version of word-of-mouth marketing, including videos, ads, and other marketing content that is so infectious that customers will seek it out or pass it along to friends

Which of the following is true of emerging economies?

There is rapid economic growth and industrialization

What is the purpose of the strategic planning concept?

To consider future company needs

Which of the following describes the function of press relations?

To create and place newsworthy information in the media to attract attention to a person, product, or service

__________ is a sales promotion tool used to persuade resellers to carry a brand, give it shelf space, promote it in advertising, and push it to customers.

Trade promotion

Which of the following describes spam?

Unsolicited, unwanted commercial email messages

Joint ownership is __________.

a cooperative venture in which a company creates a local business with investors in a foreign market firm, who share ownership and control

Standardized global marketing is ________.

a global marketing strategy that basically uses the same marketing strategy and mix in all of the company's international markets

An economic community is ________.

a group of nations organized to work toward common goals in the regulation of international trade

An advertising objective is __________.

a specific communication task to be accomplished with a specific target audience during a specific period of time

Advertising is __________.

any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor

In a territorial sales force structure, salespeople ________.

are assigned to an exclusive geographic territory to sell the company's full line

Industrial economies ________.

are major importers and exporters of manufactured goods and services

The affordable method sets a promotion budget ___________.

at the level management thinks the company can afford

Consumer promotion is a sales promotion tool used to __________.

boost short-term customer buying and involvement or to enhance long-term customer relationships

PR departments may perform many functions, including public affairs, which is ________.

building and maintaining national or local community relationships

Follow-up is the sales step in which a salesperson __________.

checks in with the customer after the sale to ensure customer satisfaction and repeat business

Public relations people prepare and create logos, stationery, and business forms as ________ .

corporate identity materials

Product invention is __________.

creating new products or services for foreign markets

According to the American Marketing Association, companies should ________ in order to teach managers about important ethical issues and help them find the proper responses.

develop code of ethics programs

According to the American Marketing Association's code of ethics, ________ means to consciously avoid harmful actions or omissions by embodying high ethical standards and adhering to all applicable laws and regulations in the choices we make.

doing no harm

According to the American Marketing Association's code of ethics, ________ means building relationships and enhancing consumer confidence in the integrity of marketing by affirming these core values: honesty, responsibility, fairness, respect, transparency, and citizenship.

embracing ethical values

Direct and digital marketing is best defined as ________.

engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships

When a company is managing its international marketing activities, organizing an export department will typically happen ________ in the process.

first

An advantage of newspapers as an advertising medium is ________.

flexibility

According to the American Marketing Association's code of ethics, ________ in the marketing system means striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process as well as avoiding deception in product design, pricing, communication, and delivery of distribution.

fostering trust

Business promotion is a sales promotion tool used to __________.

generate business leads, stimulate purchases, reward customers, and motivate salespeople

Pleasing products __________.

give high immediate satisfaction but may hurt consumers in the long run

A(n) ________ is a firm that, by operating in more than one country, gains R&D, production, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors.

global firm

Deficient products __________.

have neither immediate appeal nor long-run benefits

An advantage of direct mail as an advertising medium is ________.

high audience selectivity

An advantage of digital, mobile, and social media as an advertising medium is ________.

high selectivity

Customer sales force structure refers to a sales force organization ________.

in which salespeople specialize in selling only to certain customers or industries

PR departments may perform many functions, including ________, which is publicizing specific products.

product publicity

Good local acceptance is an advantage of ________.

radio

The marketing concept __________.

recognizes that organizations thrive from day to day by determining the current needs and wants of target customers and fulfilling those needs and wants more effectively and efficiently than competitors d

The principle of sustainable marketing that __________ is called innovative marketing.

requires a company to seek real product and marketing improvements

Promotion mix is best defined as the __________.

specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships

The __________ considers future company needs.

strategic planning concept

According to the American Marketing Association's code of ethics, fostering trust in the marketing system means ________.

striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process as well as avoiding deception in product design, pricing, communication, and delivery of distribution

The __________ meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

sustainable marketing concept

High clutter is a limitation of ________.

television

The advantage to ________ as a major media type is that it allows for good mass-marketing coverage.

television

Customer value marketing is a principle of sustainable marketing __________.

that states a company should put most of its resources into customer value-building marketing investments

An advertising budget is __________.

the dollars and other resources allocated to promote a product or a company

The sender is __________.

the party sending the message to another party

According to the American Marketing Association's code of ethics, doing no harm means ________.

to consciously avoid harmful actions or omissions by embodying high ethical standards and adhering to all applicable laws and regulations in the choices we make

Team selling ________.

uses people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts

Digital and social media marketing consists of ________.

using digital marketing tools such as websites, online video, email, blogs, social media, mobile ads and apps, and other digital platforms to directly engage consumers anywhere, anytime via their digital devices

Public relations people prepare ________, such as annual reports and brochures.

written materials