Mkt Final (Quizzes 5-7)

Veronica Jackson is working on a strategy to retain her current personal training customers. She should consider creating a [-----] which is are specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time. a. loyalty program b. coupon c. contest d. rebate e. advertising campaign

a

Veronica Jackson will be a bridesmaid next summer in her friends wedding, and she purchased her dress online. The next time she turned on her computer, Veronica was surprised to see special offers for matching accessories. This is an example of which promotion strategy? a. direct marketing b. sales promotions c. personal selling d. public relations e. sweepstakes

a

Toyota VP Adam Nguyen has increased the investment in sales people at the dealerships. Adam believes an advantage of personal selling over other types of marketing promotion is that a. salespeople can build strong relationships with customers. b. personal selling almost always costs less than other marketing communication alternatives. c. personal selling has greater reach than advertising. d. cold calling is easier than direct mail advertising. e. personal selling requires less training than other types of selling.

a

When conducting a research study attempting to understand what features were most important to automobile consumers, Cary's Research Company used a questionnaire containing ________ questions, with a predetermined set of response options. a. structured b. in-depth interview c. open-ended d. free-form e. unstructured

a

Pioneer or breakthrough products a. will likely result in late maturity buying. b. can change consumer preferences. c. incorporate reverse engineering outputs. d. require the use of concept testing services. e. must be geographically centered.

b

The observation that consumers are generally more sensitive to price increases than to price decreases suggests that a. most consumers cannot remember what price they paid the last time they bought a particular product. b. it is easier to lose customers with a price increase than to gain customers with a price decrease. c. most consumers would rather skip buying a product than pay a higher price. d. most consumers are emotionally attached to their favorite products and are unlikely to change, even if the price changes. e. firms gain more customers with price decreases than they lose with price increases.

b

When businesses support cultural or sporting events, such as the Discover Orange Bowl football game, this is known as cause-related marketing. a. True b. False

b

Many years ago Honda's Accord and Ford's Taurus were the two top-selling cars in the United States. As the year was coming to an end, Ford cut the price of the Taurus, hoping to outsell the Accord and allow Ford to claim that "Taurus is the best-selling car in America." Ford was using a ________ pricing strategy. a. maximizing profits b. competitor orientation c. sales orientation d. status quo e. customer orientation

c

In the United States, most consumer packaged goods found in grocery and discount stores are already in the __________ stage of the product life cycle. a. growth b. pioneer c. introduction d. decline e. maturity

e

Product warranties, financing, product support and after sale service pertain to which product component? a. Brand equity b. Brand promise c. Customer support d. Customer relationship management e. Associated services

e

The Coffee Express company is located in a business district with few customers on the weekend. To attract customers on Saturday and Sundays, it reduces its prices on these two days. This is an example of a. dynamic pricing. b. the substitution effect. c. the income effect. d. the target return effect. e. cross-price elasticity.

a

The marketing research process follows five steps, and researchers a. may not always go through them in the exact sequence if the situation changes or new information is discovered. b. should maintain the integrity of the process by following each step sequentially and thoroughly. c. often collect data before defining the research objectives. d. should be prepared to present the results before completing the analysis if they are under a great deal of pressure to meet a deadline. e. may follow the process by completing all steps at once instead of planning the process first.

a

Toyota was the first automobile company to mass produce a hybrid car. When the Prius was in the introductory stage, Toyota knew that a. sales would be low and profits nonexistent, but the Prius would attract innovators. b. sales would rise quickly, profits would jump, and even laggards would buy the Prius. c. sales would level off, profits would decline, and late majority consumers would be attracted to his product. d. sales would level off, profits would decline, and innovators would be attracted to the product. e. sales would be low, profits would be high, and all potential would jump at the opportunity to buy the Puris.

a

Toyota's VP of Marketing, Adam Nguyen, has been working closely with the company's research and development team on a new concept for a lightweight electric scooter that can be easily folded and carried inside a building or on public transportation. Toyota is currently engaged in concept testing. The most important question during this phase of product development pertains to a. the respondent's purchase intentions if the product were made available. b. marketing and advertising costs. c. the cost to manufacture the product. d. the price of the final product. e. the cost of research and development.

a

Unlike advertising, public relations a. supports promotional efforts by generating free media attention and goodwill. b. accounts for a greater increase in marketing spending. c. converts mass media advertising into direct marketing. d. is considered a human resource function. e. should not be considered part of the marketing concept

a

A pulsing advertising schedule uses periods of heavy advertising followed by periods of no advertising. a. True b. False

b

When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda and a few other manufacturers entered the market, shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle. a. Growth b. Introduction c. Leveling d. Decline e. Maturity

a

Walmart is known for its efficient logistical systems. Every time consumers buy something, that purchase is recorded and sent to company headquarters, where it is used to generate reorders to vendors. In addition, customers' billions of purchases are analyzed to uncover patterns of consumers' purchasing behavior. This is an example of: a. data isolation. b. data mining. c. secondary data collection. d. sentiment mining. e. qualitative research.

b

Sales of national brands of orange juice tend to increase when the economy is doing well, while sales of generic orange juice increase when the economy is not doing well. This is an example of how ________ impacts demand for products. a. dynamic pricing b. the price inelasticity coefficient c. the income effect d. the target return effect e. cross-price elasticity

c

What type of competition occurs when there are many firms competing for customers in a given market but their products are differentiated? a. monopolistic competition b. monopoly competition c. pure competition d. predatory competition e. oligopolistic competition

a

When Betsy decided to open up a tea shop in the center of town, she chose a group of customers who represent her customers of interest. This group is called a a. sample. b. focus group. c. target market. d. demographic. e. potential customer.

a

When CarMax promises a "no-haggle" pricing structure, it exhibits __________________ because it provides additional value to potential used car buyers by making the process simple and easy. a. a customer orientation b. a status-quo pricing structure c. competitive parity d. a competitor orientation e. consumer parity

a

When Crest Toothpaste comes up with a new toothpaste flavor, it often introduces the product in select regional markets before rolling out the product worldwide. When the company does this, it is engaged in a. Test marketing b. Pretesting c. Product launch d. Concept testing e. Alpha testing

a

When the marketing research problem is not clearly defined, a researcher will likely engage in __________ research. a. data mining b. qualitative c. survey d. quantitative e. experimental

b

The diffusion of innovation theory focuses on a. the geographic boundaries of innovation. b. the relationship between pioneer brands and imitators. c. the psychological traits of innovators. d. the rate at which consumers are likely to adopt a new product or service. e. the way a product moves through the product life cycle.

d

In vendor-managed inventory systems, a. corporations send information to retail customers, bypassing wholesalers and retailers. b. companies send information to cooperatives. c. customers send information to retailers. d. sales reps send sales information to the retailer. e. retailers send sales information to the manufacturer.

e

A disadvantage to using secondary data is that they might not be precisely relevant to the information needed. a. True b. False

a

All of the following are considered qualitative research except a. experiments. b. observation. c. focus groups. d. social media. e. in-depth interviews.

a

Crest Toothpaste wants to get their products into as many outlets as possible, understanding that the more exposure a product gets, the more it will sell. Crest is using a ____________ distribution strategy. a. intensive b. targeted c. big box d. selective e. exclusive

a

Crest toothpaste, along with most consumer packaged goods at your local grocery store, are in the maturity stage of the product life cycle. All of the following are characteristics of the maturity stage EXCEPT a. Laggards are a major focus of marketing efforts b. Price competition is intense c. Marketing costs increase as firms defend their market share d. The market may become saturated because nearly all potential customers have adopted the product e. To increase the customer base, firms consider entry into new markets and new market segments.

a

Eddie was known for driving 30 miles just to save a dollar on the price of his favorite beverage. Eddie perceived price as ________ for a good or service, while most consumers recognize price as the ________ made to acquire a good or service. a. the money paid; overall sacrifice b. a variable cost; fixed cost c. a fixed cost; variable payment d. the overall sacrifice; monetary payment e. the break-even amount; total cost

a

For her personal training business ShapeUp!, Veronica Jackson has decided to work on developing and maintaining positive relationships with the media and community groups. Veronica is focusing on a(n) [-----] strategy. a. public relations a. sales promotion c. advertising d. direct marketing e. regional marketing

a

In Vision Innovations promotional mix, Oscar Rodriguez wants to reduce mass media and to increase the use of personalized marketing communication messages. To achieve this goal, Oscar will likely increase his use of a. direct marketing b. sales promotion c. advertising d. public relations e. price reductions

a

In many cases, pioneers lose their market lead and initial market share to imitators who a. capitalize on the pioneers' weaknesses. b. create similar products with reduced value to consumers. c. utilize alpha-beta testing. d. ignore patents and copyrights. e. target late maturity consumers.

a

Katie Murphy is debating how to allocate the promotion budget a Toyota dealership. She knows having knowledgeable salespeople in the dealership can simplify buyers' purchase decisions. Katie should also consider that, compared to other promotional elements, personal selling is a. expensive. b. easy. c. ineffective. d. overrated. e. difficult to track.

a

Katie Murphy is obsessed with Apple products. She is constantly searching the internet for information about new product releases. Katie has been known to spend the night waiting in line so she could purchase a new Apple product before any of her friends. According to the Diffusion of Innovation, Katie is a(n) a. Innovator b. Early Majority c. Early adopter d. Late majority e. Laggard

a

MAC cosmetics can only be found at specific retailers. The organization uses a _______________________ distribution strategy to maintain a particular image and control the flow of merchandise. a. selective b. intensive c. collective d. careful e. variable

a

Marketers spend millions of dollars annually trying to create or reinforce brand loyalty. Brand loyalty changes the demand curve for the firm's products by a. decreasing the price elasticity of demand. b. making demand more oligopolistic and less monopolistic. c. increasing the income effect. d. reducing fixed costs and increasing the gray marketing effect. e. shifting the market from a monopoly to pure competition.

a

Neville is trying to create an advertising message that tells consumers how his company's cable and Internet services differ from other alternatives in the market. Neville is trying to create a(n) a. unique selling proposition. b. proportional benefit communication. c. institutional advertising message. d. PSA. e. flighting ad strategy.

a

One key feature of the value of strong brand equity is that a. it can protect the firm from competition. b. it no longer needs to be supported by advertising and promotion. c. if it becomes a generic name, the brand is worth even more. d. it cannot be successfully imitated by a retailer's own brand. e. competitors will typically abandon a sector altogether rather than compete.

a

Oscar Rodriguez buys eyeglass frames from a variety of designers. Oscar sells those frames direct to customers via Vision Innovation's locations at shopping malls and the company's website. This would be considered an example of a(n) a. indirect marketing channel b. direct marketing channel c. simplified transaction d. wholesale operation e. complex transaction

a

Personal trainer and ShapeUp! gym owner Veronica Jackson searches the internet for any information she can get on her competitors. Veronica noticed that several fitness clubs have lowered the prices for the holiday season and she decided to do the same. Veronica is using a _______ pricing strategy. a. Status quo b. Maximizing profits c. Target profit d. Premium e. Skimming

a

Reminder advertising is primarily used to a. prompt repurchase of a product. b. create and build brand awareness. c. accelerate market acceptance. d. gather information about consumers. e. persuade consumers to change existing perceptions.

a

When Veronica Jackson set up her ShapeUp! business, she used penetration pricing in order to gain customers quickly in the very competitive market of personal fitness training. Now that Veronica is established, she is reluctant to raise her prices because she knows that when more choices exist in the market, a. the more sensitive consumers will be to changes in the price of a particular product. b. the more likely the market will be characterized as an oligopoly. c. the easier it will be to utilize a target profit pricing strategy. d. the greater the income elasticity for each product. e. the lower the price elasticity for each product.

a

When Veronica Jackson was in college, she served as a brand ambassador for Nunn Hydration. In this role, Veronica would give samples of Nunn Hydration products her exercise science classmates. Which element of the promotional mix does this describe? a. sales promotion b. direct marketing c. public relations d. mobile marketing e. advertising

a

Which of the following would be least sensitive to price increases? a. The prescription lenses for eyeglasses b. Foster Grant designer sunglasses frames c. Nike Air athletic shoes d. ShapeUp! fitness gym membership e. Tickets to ISU football games

a

[-----] are special incentives or excitement-building programs that encourage consumers to purchase a particular product. This strategy is typically used in conjunction with other promotional mix elements. a. Sales promotions b. B2B programs c. Trade incentives d. Push programs e. Direct marketing

a

_______________ is a complex bundle of images, perceptions and experiences in the customer's mind that represents a particular product or company, and differentiates a particular company's offering from all other companies' offerings. a. Brand b. Brand promise c. Brand equity d. Brand identity e. Symbol f. Logo g. None of the above

a

__________________ is a covenant with the customer that the product--and the company behind it—will live up to the expectations it has created, specifically and implicitly. a. Brand promise b. Express warranty c. both of the above d. neither of the above

a

____________________ is where two or more different company brands are featured together on product packaging or in advertising. a. Co-branding b. Combination branding c. Tiered branding d. Brand dilution e. none of the above

a

A ____________ is a facility for the receipt, storage, and redistribution of goods to company stores. a. logistics center b. distribution center c. supply chain center d. fulfillment center e. floor-ready center f. cross-docking center g. circulation center

b

A company has more control over which of the following? a. brand b. brand identity c. both of the above d. neither of the above

b

A demand curve shows the relationship between income and demand. a. True b. False

b

A major advantage of primary data collection is a. it can be easily accessed through syndicated databases. b. it offers behavioral insights generally not available from secondary research. c. it takes less time to collect than secondary data. d. it is general enough to meet many different researchers' needs. e. it is less expensive to collect than secondary data.

b

A/an ___________________ is a written guarantee that assures the buyer that he or she is getting what he or she has paid for or that provides recourse in case a product's performance falls short of expectations. a. brand promise b. express warranty c. both of the above d. neither of the above

b

All of the following are included in the four product life cycle stages except a. introduction. b. stagnation. c. maturity. d. growth. e. decline.

b

All of the following groups are included in the diffusion of innovation curve except a. innovators. b. nonadopters. c. late majority. d. early majority. e. early adopters.

b

An example of sentiment mining is when survey data are analyzed in depth to determine consumer attitudes toward a product. a. True b. False

b

At the break-even point, profits are maximized. a. True b. False

b

Cristina created a virtual prototype of her new line of swimwear on a website to show to consumers. Cristina will ask consumers what they think of the clothing. Which is the most important question that Cristina should ask? a. What retailers should be used to sell the swimwear? b. Will consumers purchase the swimwear if it becomes available? c. What wholesale price should be charged? d. What promotional plan will work best? e. In which season should we introduce the product?

b

Cross-price elasticity is the a. percentage change in quantity of a product demanded divided by the percentage change in its price. b. percentage change in quantity demanded of Product A compared to the percentage change in price of Product B. c. change in price of Product A divided by change in quantity demanded for Product B. d. change in quantity of a product demanded divided by the change in its price. e. change in quantity of a product demanded divided by the change in its elasticity.

b

Data that have been collected prior to the start of the current research project are considered primary data. a. True b. False

b

If a 1 percent decrease in price results in less than a 1 percent increase in the quantity demanded, demand is a. cross-price elastic. b. price inelastic. c. price elastic. d. status quo elastic. e. derived demand inelastic.

b

If a new product concept gets positive evaluations from potential customers during concept testing, the next step for a firm is a. market testing. b. product development. c. brainstorming. d. reverse engineering. e. launching of the product.

b

If the demand for a product increases, the demand for the complementary product will a. decrease. b. increase. c. stay the same. d. become more elastic. e. become more inelastic.

b

Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to many other areas in the world. These products offered ________ with consumers' needs and priorities. a. relative positioning b. compatibility c. observability d. complexity e. trialability

b

Many restaurants roll out new ideas first in Orlando, Florida, a location that attracts a vast range of diverse tourists and thus might offer insights into what various consumer groups will like. This is an example of a. target marketing. b. test marketing. c. product marketing. d. product launching. e. premarket testing.

b

Marjorie manages an upscale women's clothing store. She wants more information about her customers' general feelings about upcoming fall fashions. Marjorie will most likely use ________ to gather this type of data. a. door-to-door surveys b. focus group interviews c. syndicated data d. sales invoices e. census data

b

Panel data are always secondary data. a. True b. False

b

Sales promotions include all of the following except a. coupons. b. rebates. c. online ads. d. point-of-purchase displays. e. free samples.

c

The CEO of David's firm just came back from a business seminar. He called David into his office and stated, "I just found out about the product life cycle curve in a strategy seminar. This is a great tool. I want you to drop whatever you're doing and inventory all of our products to determine exactly where they are in the product life cycle." David needs to think fast for a good answer because he knows that a. the product life cycle is not a useful concept. b. it is often impossible to identify with precision where a product is in the product life cycle. c. the product life cycle is not helpful in companies like his that pay attention to diffusion of innovation. d. the idea has been discredited by recent research. e. the product life cycle works only for certain types of firms.

b

The three general objectives of advertising are to select, target, and promote. a. True b. False

b

Warren is in a group of 8 to 12 people and is being asked questions by a trained moderator. Warren is part of an in-depth interview group. a. True b. False

b

When a firm has a particular profit goal as its overriding concern, it will use target return pricing to meet the profit objective. a. True b. False

b

Which of the following is true regarding the ticketing and marking process? a. It refers to marking off inventory that has been removed from the retailer's shelves. b. It is more efficient for a retailer to perform these activities at a distribution center than in its stores. c. It is more efficient to perform this task when the product is in the store aisles and ready to be shelved. d. The retailer should never consider having the vendor ship floor-ready merchandise. e. It is more efficient for a retailer to perform these activities in its storeroom.

b

Actor Sissy Spacek once objected to a series of movie scenes that included her smoking a certain brand of cigarettes. She was probably objecting to a ________ arrangement the film company had made with an advertiser. a. promotional deal b. mass media buy c. product placement d. loyalty program e. sampling

c

Company sales invoices, census data, and trade association statistics are examples of a. primary data. b. data mines. c. secondary data. d. tertiary data. e. qualitative data.

c

First Lady Michelle Obama recorded an ad encouraging parents to teach their children good nutrition habits to stem the increase in child obesity. This message is an example of a. product-focused advertising. b. consumer-generated advertising. c. a public service announcement. d. reminder advertising. e. a flighting campaign.

c

Franchising is the most common type of ___________________ vertical marketing system. a. cooperative b. corporate c. contractual d. administered e. conventional

c

Jaleel is the marketing manager for a moderately well-known rock band. He wants to know more about industry trends including sales by different musical styles, online downloads, and concert attendance. Jaleel will most likely use ________ to gather this type of data. a. focus groups b. observation c. syndicated data d. sales invoices e. census data

c

Jill's discount home furnishings store is in a strip mall. She wants to know what other businesses in the strip mall her customers visit when they come to her store. To collect information for this objective, Jill will most likely use a. door-to-door surveys. b. focus group interviews. c. observation. d. sales invoices. e. census data.

c

Quantitative research offers a means to confirm ideas through a. surveys or experiments. b. in-depth interviews. c. data mining. d. qualitative research. e. informal analysis.

c

The complete set of all products offered by a firm is called its a. product line. b. product categories. c. product mix. d. product breadth. e. product line depth.

c

The difference between advertising and publicity is that advertising is a. more effective in reaching consumers. b. almost always used in conjunction with consumer satisfaction surveys. c. a paid form of marketing communication. d. designed to remind consumers, while publicity is used to persuade consumers. e. designed for very targeted audiences, while publicity reaches mass audiences.

c

The following elements help form _____________________________________ : - name - URL - logos - characters - slogans - taglines - jingles/sounds - labeling - packaging a. brand b. brand equity c. brand identity d. brand promise e. none of the above

c

The total value that accrues to a product as a result of a company's cumulative investments in the marketing of the brand is known as ________________________________ . a. branding b. brand promise c. brand equity d. brand legacy e. public perception

c

What price competitive level would be indicated when the price is usually set according to the laws of supply and demand? a. oligopolistic competition b. monopolistic competition c. pure competition d. channel competition e. monopoly competition

c

Traditional demand curve economic theory is used by marketers to understand ______________ in the five Cs of pricing. a. competitors b. channel members c. cost d. customers e. company objectives

d

When firms set prices similar to those of competitors, they are following a strategy of a. me-too pricing. b. copycat pricing. c. competitive parity. d. market-broadening pricing. e. industry-standard pricing.

c

________ appeals help consumers make purchase decisions by offering facts in advertising messages and strong arguments built around relevant issues, explaining key benefits of the firm's products and services. a. Emotional b. Niche marketing c. Informational d. Institutional e. Reminder

c

_________________ are groups of associated items that consumers tend to use together or think of as part of a group of similar products or services. a. augmented products b. associated services c. product line d. product mix e. none of the above

c

________________________ is where the brand and the product have separate identities, but they are combined together, e. g. Apple iPhone, Sony PlayStation, Porsche Panamera, etc a. Tiered branding b. Combination branding c. both of the above d. neither of the above

c

_________________________ is the process by which ideas are transformed into new products and services that will help firms grow. a. Beta testing b. Concept testing c. Innovation d. Reverse engineering e. Competition

c

After using market research to identify the target audience for his advertising campaign, Jorge will next use this information to a. develop creative advertising copy. b. assess the potential effectiveness of his ad campaign. c. buy advertising time. d. set explicit and measurable objectives for the campaign. e. develop PSAs for distribution in lieu of advertising.

d

Because of its size and relative power, Walmart can easily impose controls on small manufacturers, such as Brown Betty Dessert Boutique, but with large, powerful suppliers such as P&G, the control is more balanced between parties. Walmart's various marketing channel relationships offer examples of different forms of a(n) ________ marketing system. a. cooperative b. corporate c. independent d. administered vertical e. conventional horizontal

d

Brands can be owned by a. manufacturers. b. wholesalers. c. retailers. d. all of the above. e. none of the above.

d

Colin has just received a delivery from the company's distribution center. He opens the containers and finds the popcorn and snacks are all bar-coded and priced and the package includes an end-of-the-aisle display rack. Colin has received a(n) ________ shipment. a. quick-response packaged b. cross-docking c. lead time synchronized d. floor-ready e. RFID

d

For a major university, undergraduate programs, graduate programs, and professional programs would be __________ within the university's product mix. a. brand associations b. family brands c. co-brands d. product lines e. private-label brands

d

Just as marketers create value by meeting the needs and wants of consumers, marketing researchers create value if a. the research is expensive. b. all participants like the research design. c. the research does not cost too much. d. the results will be used in making management decisions. e. the research is finished quickly.

d

Maria's Bakery is trying to determine what price to charge for its cookies, so Maria places a low price on them and raises it each week, keeping track of how many she sells. Then she determines what her cost was for the cookies and determines which price was the most profitable. What form of research was Maria conducting? a. observation b. survey c. scanner-based d. an experiment e. a panel

d

RFID tags are a. selective distribution designs used to maximize geographic efficiency. b. electronic discount information tags used to provide reduced prices to select customers. c. VMI demand scheduling data tags. d. tiny computer chips that transmit information about a container's contents. e. information tags used for floor-ready merchandising.

d

The basic problem-solving benefits that customers are seeking refer to which product component? a. actual product b. augmented product c. associated services d. core customer value e. none of the above

d

Unlike product, promotion, or place, price is the only part of the marketing mix a. that offers the opportunity for an oligopoly. b. that is subject to gray market manipulation. c. that leads to competition. d. that generates revenue. e. that is determined by the consumer.

d

Which of the following is least likely to be a source of ideas for new products? a. R&D efforts b. licensing agreements c. consumer research d. geodemographic segmentation e. brainstorming

d

Which of the following is the best example of a mass media advertising channel? a. Popstar! Magazine b. Crochet World magazine c. Home and Garden TV (HGTV) d. USA Today e. TransWorld Skateboarding

d

_____________________ is when a company uses an established brand name as an umbrella when entering new businesses or developing new product lines that represent new categories for the company. a. Combination branding b. Co-branding c. Tiered branding d. Brand extension e. Brand dilution f. Brand illusion

d

________________________ is anything that is of value to a consumer and can be offered through a voluntary marketing exchange. a. Associated servieces b. Brand promise c. Brand equity d. Product e. Augmented product f. Marketing

d

__________________________ is where the packaging creates an experience for the customer that goes beyond the functional benefits of displaying and protecting the product, e. g. Absolut Vodka, Grey Goose, Altoids breath mints, etc. a. Brand identity b. Experimental packaging c. Package design d. None of the above

d

A ________ strategy involves accurately measuring all the factors needed to predict sales and profits at various price levels, so that the price level that produces the highest return can be chosen. a. sales orientation b. target profit c. target return d. status quo e. maximizing profits

e

All of the following would be part of the launch of a new product except a. determining the marketing budget for the first year of the product. b. finalizing the marketing mix variables. c. determining the price for the product. d. making decisions regarding positioning the product. e. starting to make preliminary decisions about the target market.

e

What type of pricing will Kroger be employing with its new pricing system? a. competitive parity b. prestiege pricing c. premium pricing d. status quo pricing e. dynamic pricing f. all of the above

e

When the name of the company is used as the logo (Fenty, Google, Coca-Cola), it is called __________________________ . a. slogan b. tagline c. trademark d. symbol e. wordmark f. none of the above

e

Which of the following research methods would be best in helping a marketer understand how people feel about a product or service on an individual, detailed level? a. focus groups b. surveys c. social media monitoring d. primary data mining e. in-depth interviews

e

Zappos.com, an online shoe store, offers an easy, no-hassle return procedure. This relates to the ________ of its products. a. relative advantage b. compatibility c. observability d. complexity e. trialability

e

________ are specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time. a. Coupons b. Rebates c. Contests d. Sweepstakes e. Loyalty programs

e

A(n) ____________ is used in the shipment of products directly to customers. a. fulfillment center b. distribution center c. administration center d. data warehouse e. vendor warehouse

a

All of the following are reasons for the high failure rate of new products except a. failing to introduce lower-priced alternatives. b. overextending a firm's abilities. c. targeting the wrong segment. d. neglecting to do appropriate product testing. e. failing to assess the market properly.

a

All of the following statements about public relations are true except a. because of its high cost, the use of PR has waned in recent years. b. public relations activities often support other promotional efforts. c. media coverage generated by PR is seen as more credible than paid advertising. d. consumers have become increasing skeptical of marketing claims made in conventional media. e. PR has become increasingly important as costs of other forms of marketing communications continue to increase.

a

An advertisement for Titleist golf balls that airs on the cable television Golf Channel network is an example of what type of media channel? a. niche b. mass c. select d. product placement e. institutional

a

As soon as she saw one, Veronica Jackson wanted a flat-screen television, but she was worried about making the wrong choice. She waited until there were alternatives in the market with lower prices and improved quality. According to the Diffusion of Innovation, Veronica is part of the __________ . a. Early majority b. Innovator c. Laggard d. Late majority e. Early adopter

a

Brand dilution occurs when the brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold. a. True b. False

a

One of Oscar Rodriguez's responsibilities is to manage Vision Innovation's retail spaces located in shopping malls. The goal of retailing is to a. add value to products and services sold to consumers for their personal or family use. b. communicate the firm's core values through product displays c. increase the volume of individual transactions made at a the individual points of sale d. separate wholesaling from manufacturing e. manage the marketing function at brick-and-mortar store spaces.

a

Oscar Rodriguez is excited to add a futuristic line of eye-wear to the product offerings Vision Innovation. Oscar has decided to invest in a promotional campaign with significant portion of the investment dedicated to advertising. He decided to do this because, compared to other elements in the promotional mix, advertising is extremely effective for a. creating awareness and generating interest in a product. b. closing a sale c. decoding messages efficiently. d. reducing the potential for noise. e. repositioning consumers in the AIDA model.

a

Oscar Rodriguez is trying to explain the difference between advertising and publicity to the CEO of Vision Innovations. In his explanation, Oscar should tell the CEO that advertising a. allows for greater control of the message and is a paid form of communication b. is more effective in reaching customers compared to public relations c. is almost always used in conjuction with consumer satisfaction surveys d. is designed to remind consumers, while publicity is used to persuade consumers e. is designed for very targeted audiences, while publicity reaches broad audiences

a

Oscar Rodriguez orders sunglasses frames for Vision Innovations from a wholesaler. The wholesaler provides Vision Innovation access to a wide variety of glasses frames from multiple designers. In general, wholesalers sell to all of the following EXCEPT a. consumers. b. businesses. c. brick and mortar retailers. d. industrial users. e. online retailers.

a

Oscar Rodriguez recently tried the new vegan products from Meatless Farms. Only a few of Oscar's friends tried the meat-alternative products before he did. Most of his friend wanted to hear about Oscar's experience before trying for themselves. According to the Diffusion of Innovation. Oscar is a(n) __________ in this product category. a. Early adopter b. Innovator c. Early majority d. Late majority e. Laggard

a

Personal trainer Veronica Jackson is opening an new fitness center in Chicago. She is working on an advertisement to announce the grand opening. Veronica's first step in her advertising campaign is to a. get consumers' attention. b. enlist creative advertising designers. c. make sure the store colors are consistent with her logo d. drive prospects to become members e. remind customers of her different locations

a

Personal trainer and ShapeUp! gym owner Veronica Jackson is expanding services to attract more customers. Veronica is leaning toward charging a higher prices than her competitors to help demonstrate that ShapeUp! programs are a high-quality product. Veronica is considering a. premium pricing b. status quo pricing c. competitive parity pricing d. differential pricing e. market leader pricing

a

Personal trainer and ShapeUp! gym owner Veronica Jackson rarely worries about the actual costs of providing her programs. In her Principles of Marketing class at Iowa State University, Veronica learned that, in general, prices should not be based on costs because a. consumers make their purchase decisions based on perceived value. b. consumers are cost-conscious. c. producers rarely know what their costs are. d. producers need to avoid creating a cost competitive parity debate. e. customers are always right.

a

Tess is the marketing manager for a fast-food restaurant chain. She uses a target return pricing strategy because her firm's primary objective is to a. increase profits. b. increase sales. c. decrease competition. d. build customer satisfaction. e. broaden the product line.

a