MKT Final Exam

Retailers are classified on characteristics including the amount of service they offer, the breadth and depth of their product lines, how they are organized, and --

the relative prices they charge

Following the change in consumer values and consumption patterns after the Great Recession, marketers have changed their marketing strategies to emphasize the ________ of their products.

value

conflict that occurs between different levels of the same marketing channel is known as -- conflict

vertical

Which term refers to looking at merchandise at a traditional store and then purchasing the merchandise online?

wholesaling

which of the following helps companies in setting sales force size?

workload approach

Which of the following statements is true regarding competitive marketing intelligence?

Competitive marketing intelligence relies upon publicly available information.

Using the AIDA model, an effective marketing message should get attention, hold interest, ________, and obtain action.

arouse desire

marketing management must make important decisions when developing an advertising program. Which of the following is NOT one of those decisions? Evaluating advertising effectiveness Developing advertising strategy Setting advertising objectives Designing products and distribution Setting and advertising budget

Designing products and distribution

________ refers to gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.

Experimental research

________ include banks, credit companies, insurance companies, and other businesses that help insure against the risks associated with the buying and selling of goods.

Financial intermediaries

Which of the following is an advantage of using an internal database?

Internal databases can be accessed more quickly and cheaply than other information sources.

When a competitor cuts its price, a company should -- if it believes it will not lose much market share or would lose too much profit by cutting its own prices

maintain its current prices and profit margin

________ measures the profits generated by investments in marketing activities.

Return on marketing investment

________ is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities.

Strategic planning

Over the past two decades, the U.S. population has shifted toward the ________ states.

Sunbelt

Which of the following is true with regard to strategic planning?

The focus of strategic planning is to define a game plan for long-run survival and growth.

Which of the following is true with regard to mail questionnaires?

The response rate of mail questionnaires is often very low.

Brands in a market with many competitors and high advertising clutter must ________.

be advertised more heavily to be noticed in the market place

Which of the following functions is NOT part of managing the marketing process?

budgeting

Multiprint, a printer manufacturing firm, sells ink cartridges for each of its specific models. Only Multiprint cartridges are compatible with Multiprint printers, and no two models share the same specifications. What type of pricing does Multiprint use?

captive product pricing

Excel Enterprises uses a Web site, online social networks, and print advertisements to promote its products. Since Excel Enterprises practices integrated marketing communications, all these different brand contacts maintain ________ in design and tone.

consistency

Price & Malone Corp., a company based in Houston, caters to a market of individuals and households that buy goods and services for personal consumption. Price & Malone caters to a ________ market.

consumer

When different types of retailers sell the same product at the same prices to the same customers, thanks in part to the price transparency of the Internet, the retail forms appear to be--

converging

Which of the following is a major type of vertical marketing system?

corporate

Logos, uniforms, brochures, and company trucks are all examples of ________ that can be used to help a company create a visual image for the public.

corporate identity

A marketer wants to increase its "share of customer." It can do this by offering a greater variety to customers, or by ________.

creating programs to cross-sell and up-sell to market more products and service to existing customers

Developing an effective message strategy begins with identifying -- that can be used as advertising appeals.

customer benefits

"Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage." This statement specifically indicates loss in terms of ________.

customer lifetime value

Sally recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Sally was measuring her level of ________.

customer satisfaction

FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these benefits against the monetary cost of using FedEx along with other costs of using the service, they are acting upon ________.

customer-perceived value

Which of the following is NOT an element of the marketing mix?

purchase

Effective positioning begins with ________.

differentiation

Which of the following is a price adjustment strategy?

discount and allowance pricing

Which consumer promotion tool requires the consumer to provide a proof of purchase to the manufacturer?

displays

Elmo Corp., a manufacturer of personal computers and printers, recently established an office furniture exporting business. This is an example of ________.

diversification

which of the following terms refers to the wholesalers and retailers that form a vital link between the firm and its customers?

downstream partners

the decision to use an NBA star player to communicate the desirability of Nike basketball shoes represents the -- process of the communication model.

encoding

Sales promotions are targeted toward the members of the sales force, business customers, retailers, wholesalers, and

final buyers

Marketers should understand that people's core beliefs and values tend to be ________.

fixed

At Neiman Marcus, a first-class department store, customers shop for high-end products and they are assisted in every phase of the shopping process. Neiman Marcus is a --

full service retailer

Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching electronic collections of consumer information within the company network to arrive at crucial marketing decisions. In this instance, Kei is using ________.

internal databases

Cape Sky Inc., an international insurance and financial services company, is the primary sponsor of the annual New York City Marathon, which is attended by over one million fans and watched by approximately 300 million viewers worldwide. The Cape Sky logo and name are displayed throughout the racecourse. Cape Sky most likely sponsors this event in order to appeal to which of the following types of publics?

general publics

Managers at the Imperial Hotel-Chicago complained that the chain's overall image was hurt because Imperial Hotel-Dallas was overcharging guests and providing poor service. The Imperial Hotel was experiencing ________ conflict.

horizontal

When Mcdonalds offers its products inside of a Walmart store, it is using --?

horizontal marketing system

Robin works in a manufacturing company in Ohio. She sells products and handles customer requests via the company's online live chat feature. In her company, Robin is most likely a part of the ________.

inside sale force

Delia's is a clothing retailer that targets teenage girls. It runs coordinated promotions for its catalogs, Web site, and retail outlets. It uses the same models in its catalog, print ads, and Web site. Delia's works to make sure its public relations activities as well as its sales promotions harmonize with its advertising in all aspects. From this information, we can infer that Delia's is using ________.

integrated marketing communication

-- play an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities

intermediaries

Which of the following is true about Internet-based survey research?

internet-based survey research is characterized by high speed and low costs.

Which of the following is the final step of the marketing research process?

interpreting and reporting the findings

Which of the following is NOT a method of gathering good marketing intelligence?

interviewing competitors' employees to learn as much "inside information" as possible

which of the following is most likely an objective of information advertising?

keep the brand in customer minds during off season

one of the functions performed by a PR department is --, which involves building and maintaining relations with legislators and government officials to influence legislation and regulation.

lobbying

Sparkling Valley, a luxury resort, prices cottages facing the lake higher than cottages that do not, even though the cottages and services offered are identical in every other aspect. this form of pricing is called -- pricing?

location based

Carey David's wholesale company helps retailers train salesclerks, improve store layouts and displays, and set up inventory control systems. According to this information, which of the following wholesaler's channel functions does Carey David provide?

management services and advice

Crocus, a gift store, specializes in serving customer segments that major competitors overlook and ignore. Which of the following best describes Crocus?

market nicher

Phoenix, a popular coffee shop chain in North America, recently opened 400 stores to cater to its rapidly increasing number of patrons. This exemplifies ________.

market penetration

Which of the following refers to the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors?

market segmentation

when a company sets a high price for a new product with the intention of reducing the price in the future, it is using -- pricing strategy

market skimming

Midnight Magic, a perfume manufacturing company, plans to release a new fragrance during the holiday season at $99 per bottle. The company intends to bring the price down to $49 within six months of its release to attract buyers who couldn't afford the initial price. Which of the following pricing strategies is Midnight Magic using?

market skimming pricing

The market researchers at HoneyCamp Foods gather daily sales data and sort it by product line and region. With the help of sophisticated tools and techniques, they develop the data needed by marketing managers to evaluate the market share of the company's different products and also to gain valuable market insights. This mix of people and procedures at HoneyCamp Foods that generate actionable marketing insights represents a(n) ________.

marketing information system

The art and science of choosing target markets and building profitable relationships with them is called ________.

marketing management

The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships is referred to as the ________.

marketing strategy

The physical environment affecting marketing activities is referred to as the ________ environment.

natural

Which budgeting method entails defining specific promotion goals, determining the necessary tasks, and estimating the costs to determine a promotion budget?

objective and task method

prospects can be qualified by looking at all of the following characteristics EXCEPT? occupational mobility financial ability volume of business location possibilities for growth

occupational mobility

which of the following product mix pricing strategies involves pricing additional or accessory products sold along with the main product?

optional product pricing

-- includes sales presentations, trade shows, and incentive programs.

personal selling

Extel Inc., a home appliance manufacturer, uses sales representatives to sell its products to wholesalers and individual customers. This is an example of ________.

personal selling

personal selling

personal selling entails personal presentations by a firms sales force for the purpose of making sale and building customer relationships

In the context of a company's marketing mix, ________ includes company activities that make the product available to target consumers.

place

Marketing ________ addresses the what and why of marketing activities, while marketing ________ addresses the who, where, when, and how.

planning; implementation

Marketing logistics includes all of the following EXCEPT? reverse - inbound - outbound - customer centered- producer centered

producer centered

Daizy's is a shop that carries only plus-size clothing. According to this information, Daizy's differentiates itself from its competitors based on ________.

product assortment

Go Zone plans to introduce four tablet models over the next year. these models range from basic readers at $99 per unit, to more sophisticated tablets at $399 per unit. The more features a model has, the more expensive it is. What pricing strategy is Tone Zone using for its range of tablets?

product line pricing

Which of the following is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification?

product/market expansion grid

When demand for athletic shoes produced by Nike and endorsed by Michael Jordan is high, Nike limits how many pairs of shoes are manufactured. This action maintains strong demand by limiting supply. This decision contradicts the philosophy of which marketing concept?

production concept

Which of the following best explains why companies are adopting the team selling approach to service large, complex accounts?

products have become too complicated for one salesperson to handle a large companys need

Customer satisfaction is a goal that companies strive to earn. Companies can achieve customer delight by ________.

promising only what they can deliver and then delivering more than they promise

The owner of Second Avenue wants to establish a community clothing drive to collect clothes for a local childrens shelter. the owner is planning to set up collection barrels outside Second Avenue. In this case, which of the following public relations tools is being used by the owner?

public affairs

using a(n) -- strategy, the producer directs its marketing activities toward final consumers to induce them to buy the product.

pull

an advertising objective is classified by its primary purpose, which is to inform, persuade, or ?

remind

A(n) --is an individual who represents a company to customers by prospecting, communicating, selling, servicing, information gathering, and/or relationship building.

sales person

Commercial online databases are rich sources for obtaining ________.

secondary data

Craftsman Furniture Company offers its bedroom and living room furniture through independent and smaller chain furniture stores, not through every store that sells furniture. It uses ________ distribution.

selective

-- are the largest group of wholesalers. they include two broad types: full service wholesalers and limited service wholesalers.

selling agents

Keith, a clothing store owner, offers product suggestions to customers based on their current purchases. Which of the following is Keith trying to increase?

share of customer

Your state's department of education has budgeted a significant amount of money for a radio, print, television, and online advertising campaign emphasizing the long-term benefits, both educationally and professionally, of reading every day. This is an example of a(n) ________ campaign.

social marketing

Government agencies design ________ to encourage energy conservation and discourage smoking, excessive drinking, and drug use.

social marketing campaigns

A -- contains from 50 to 100 stores, is like a covered mini-downtown, and attracts customers from a wide area.

strip mall

With an expected increase in ethnic diversity within the American population, marketers are most likely to place a greater emphasis on ________.

targeted advertising messages

Marketers set up company and brand Web sites that provide information and promote the company's products. Social media is a significant part of today's marketing strategy. Which of these tools is NOT part of the growth in digital technology?

telemarketing calls

Needs include all of the following EXCEPT ________.

the newest iphone