MKTG 3213 Exam 2
Pacemakers that communicate with healthcare computers and can be re-calibrated by those computers are an example of what kind of interactions? • Automated Service Delivery • Traditional Interactions • Machine Summons • Human customer, Machine service provider
Automated Service Delivery
Which of these is not a party that shares and exchanges value in a sharing economy? • Recommender • Owner • Seeker • Platform
Recommender
Rachel goes to Walmart to buy groceries, and checks out with a cashier. When Rachel hands her cash to the Walmart employee, what kind of interaction has taken place? • Traditional Interactions • Human customer, Machine service provider • Machine Summons • Automated Service Delivery
Traditional Interactions
Which of these types of interactions is the only one where human interaction is absolutely necessary? • Traditional Interactions • Machine Summons • Automated Service Delivery • Machine Service Provider
Traditional Interactions
The real value of a brand lies in: • What the consumer thinks about the firm when the brand is seen • The visual appeal of the logo • How often a consumer sees the brand displayed • The cohesiveness of the name and logo
What the consumer thinks about the firm when the brand is seen
Firm A is selling a product for $40, while their major competition is selling the same product for $50. Firm A is trying to decide whether to market their price as "$10 off" or "20% off." According to the majority of research, which strategy would be the most effective? • 20% off • $10 off • They will be equally effective • There is no way to determine effectiveness
20% off
What is personal selling designed to influence? • A purchase decision • A communication incentive • A competitor response • A market's elasticity
a purchase decision
In terms of units sold, what percentage of products sold at all outlets are private-label brands? • 21% • 50% • 33% • 15%
21
Carefully choosing a brand name that is easily understood and pronounced is best defined as: • Accessibility • Conciseness • Universality • Market catering
Accessibility
Why is it crucial for a company to break through the promotional clutter? • Consumers have a limited ability to register messages • Consumers are constantly, consciously evaluating messages • Promotional clutter can be used to a firm's advantage • Promotional clutter is the end goal of advertising
Consumers have a limited ability to register messages
When choosing a brand name, what is the purpose of magnetism? • Engage the consumer • Confuse competitors • Create flashy advertisements • Attract consumers to then purchase "opposite" products
Engage the consumer
Private label brands (such as Great Value, a Walmart brand) are never successful when compared to national brands.
False
Retail atmospherics are applicable for physical stores only, not online retail presences
False
Service users have to be human consumers by default.
False
Technology has had little impact on organizational frontlines in most industries.
False
When creating a brand map, a word cloud is always more useful than a table.
False
What is a sales promotion? • Short term external promotion tactic designed to influence immediate purchase • Long term external promotion tactic designed to influence future purchase • A synonym for advertising • Price cuts only
Short term external promotion tactic designed to influence immediate purchase
The importance of being Unexpected is best explained by: • The ability of surprising messages to break through clutter • The overall failure of firms to be unexpected • Persistence of humor in company attempts • The addition to clutter that attempts always bring
The ability of surprising messages to break through clutter
What is puffery? • The idea that most ads tell only the best-case scenario • Inflating negative expectations • Exaggerating reports of the number of consumers • Inflation of price during peak business hours
The idea that most ads tell only the best-case scenario
What is the definition of social responsibility? • The idea that organizations are part of a larger society and are accountable to that society for their actions • The responsibility of a company to identify with a social culture • The idea that organizations must facilitate social bonds between employees • The responsibility of society to keep organizations accountable for their actions
The idea that organizations are part of a larger society and are accountable to that society for their actions
Marketing as a study originally broke off from which academic discipline? • Agricultural Economics • Industrial Engineering • Engineering Technology • Organizational Behavior
agricultural economics
Which of these is not a common intermediary for products? • Wholesaler • Distributer • Agent/broker • All of these are common intermediaries for product
all of these are intermediaries for product
Why is there a tension between corporate social responsibility and baseline profits? • Any money given to corporate social responsibility does not get counted as profit • Money given to corporate social responsibility is taxed doubly • Profits are always the most important goal • There is no tension
any money given to corporate social responsibility does not get counted as profit
When does initial contact with the potential consumer occur? • approach • preapproach • presentation • introduction
approach
Which of these does not happen in a "dumb industry"? • barriers to entry are increased • companies fight with price • customers become more price sensitive • barriers to entry are lowered
barriers to entry are increased
Which of these is not an example of broadcast advertising? • Billboard advertisement • TV advertisement • Radio advertisement • All of these are examples of broadcast advertising
billboard advertisement
What is defined as a group of individuals and organizations that direct the flow of products from producers to customers within the supply chain? • Channel of distribution • Marketing channel • None of these • Both are correct
both are correct
A benefit of TV broadcast advertising is that: • Both visual and audio mediums are available • Only visual mediums are available • Only audio mediums are available • All broadcasting is seen as a credible news source
both visual and audio mediums are available
Memory nodes that are linked to a particular brand are: • brand associations • brand recall • brand recognitions • brand marketing
brand associations
TOMS shoes markets its shoes by saying that for every pair purchased, one pair would be given to someone without access to shoes. Which type of cause marketing does this best fall under? • Buy one, give one • Portion of purchase • Point of sale • Two or more of these
buy one, give one
Which of these is not one of the Three C's in communication? • Committed • Clear • Concise • Consistent
committed
Franchising is an example of which type of vertical marketing system? • Contractual VMS • Administered VMS • Corporate VMS • Supplier VMS
contractual vms
With which of the following actors in the Immediate Environment are marketers usually most concerned? • Customers • Governmental Bodies • Shareholders • Suppliers
customers
In the SPIN model, what is the purpose of problem questions? • provoke the consumer into an emotional response • admit to the problems in your own product • tear down all competitors' products • determine the problems currently faced by the customer
determine the problems currently faced by the customer
What is the reason for so many levels existing between the producer and end-user? • each level adds some kind of value to the end user • each level makes some degree of money • convenience only • prices are lower across the board with a greater number of levels
each level adds some kind of value to the end user
Intermediaries should always add ________ to the system. • Efficiency • Effectiveness • Cost • Competition
efficiency
Profit responsibility tends to be the most ________ way of thinking in business. • Efficient • Ethical • Team-oriented • Inexpensive
efficient
Environmental scanning must be done as formally as possible to get reliable information.
false
Franchise fees and royalties are constant across industries.
false
Google almost never provides pay-per-click advertisements as search results.
false
Intermediaries create significant change in the final product as it travels from the producer to the customer.
false
It is common for consumers to go past the first page of their Google search.
false
More than 90% of Fortune 500 companies have a full-time job dedicated to pricing.
false
Online display advertising is exactly the same as pay-per-click.
false
What happens in the Approach stage of the personal selling process? • gain attention and interest; arrange a meeting • lay out the plan for your solution • close the deal as soon as possible • gather information and determine how best to approach
gain attention and interest; arrange a meeting
Psychological pricing is primarily concerned with: • how consumers perceive the price • how employees perceive the price • how competitors perceive the price • the elasticity of the stock market
how consumers perceive the price
When determining which social media platform to use for marketing, what should marketing professionals consider? • How the platform fits with your product • What is "cool" or trendy • Pay-per-click advertisements • Which platforms are most convenient for the firm
how the platform fits with your product
In most circumstances, higher levels of customer orientation lead to all of the following except: • Job turnover • Job satisfaction • Organizational commitment • Organizational citizenship
job turnover
What is contextual targeting most similar to? • Keywords • Pay-per-click • Data mining • Customer service
keywords
What is the first step in strategic pricing? • Knowing how your industry behaves • Knowing the price of your competitors • Financing large projects • Increasing the marketing budget
knowing how your industry behaves
Which of these is not an example of print media advertising? • Radio • Magazines • Directories • Newspapers
radio
Companies using social media marketing should remember to provide ________ on social media that relate(s) to their brand. • Value • Sales pitches • Knock-knock jokes • Image
value
_______ is not about what we put into our product, it's what our customers get out of it. • Value • Price • Marketing • Evaluation
value
What is the difference between retailing and wholesaling? • retailers sell to individuals for end use; wholesalers sell to companies for resale/company use • wholesalers sell to individuals for end use; retailers sell to companies for resale/company use • retailers are unable to mark up prices; wholesalers are free to do so • wholesalers are unable to mark up prices; retailers are free to do so
retailers sell to individuals for end use; wholesalers sell to companies for resale/company use
What is prestige pricing? • setting a high price so quality or status-conscious consumers will be attracted to the product • setting a low price so quality or status-conscious consumers will be attracted to the product • designing a product to mimic luxury items • pricing to target low-budget shoppers
setting a high price so quality or status-conscious consumers will be attracted to the product
What is market penetration pricing? • setting a low price for a new product to penetrate the market • lowering the price of old products • introducing a minimal version of an established product • jumping to a new target market
setting a low price for a new product to penetrate the market
What is the best example of a Frequent User Program? • Southwest credit card • Mail-in rebate • Black Friday sale • Buy-one Get-one Free
southwest credit card
A type of selling in which the organization is represented by multiple people, which might include a salesperson, a technical support specialist, or others, is defined as: • Group Work Ideation • Group Sales • Team Account • Team Selling
team selling
Which of these is not a personal value that is prevalent in the United States today? • Teamwork • Environmental sustainability • Individualism • Self-help
teamwork
The exchange between the firm and its employees consists of: • The employees' time and skills; the firm's money • The employees' money; the firm's time and skills • The employees' expertise; the firm's education • None of these
the employees time and skills; the firms money
Automaticity in a branding context means: • the evaluation of a brand is brought to either conscious or subconscious thought • initial evaluation of a brand is made automatic and efficient • a consumer's conscious decision to memorize aspects of a brand • the automatic reaction of consumers to a brand they have never encountered.
the evaluation of a brand is brought to either conscious or subconscious thought
When will a firm's ad show up the most often? • The firm creates different ads for different sizes • The firm only has one size ad • The firm creates a bold, colorful ad • The firm connects with Bing rather than Google
the firm creates ads for different sizes
What jobs are the most likely to be automated? • those with a great deal of routine • those with a great deal of variety • those with lots of critical thinking • those with high-impact decision making
those with a great deal of routine
Why might you not want to make legibility incredibly high in strategic design? • to encourage impulse shopping • to increase efficiency for consumers • to frustrate consumers for more rapid turnover • to require consumers to ask employees for assistance
to encourage impulse shopping
With social media marketing, who are you representing? • Your brand • Yourself • The media platform • Your followers
your brand
Why is simplicity important for breaking through promotional clutter? • Your message is the clearest when it is simple • Mail-in rebate • Complex messages draw consumers in • Messages seen as too simple are ignored by consumers
your message is clearest when it is simple
Why would a firm consider using multi-channel distribution? • To reach as many consumers as possible • To target consumers more specifically • To advertise widely • To increase spending to match competitors
to reach as many consumers as possible
It is more likely for sales to run into ethical issues when using transactional selling.
true
The Cadbury commercial in the video lecture is an example of how advertisements have the ability to improve a company's reputation.
true
The Communications Triangle encompasses more than just promotional interactions.
true
The companies who utilize mobile marketing to its fullest potential are using many platforms in addition to mobile.
true
The initial investment needed for a franchisee to buy into a franchise must come from the franchisee's own pocket.
true
The relationship and responsibilities of the franchisee are very clearly spelled out by the franchisor.
true
The same action can be judged as ethical under one approach and unethical under another.
true
Value-based pricing will always be more profitable than cost-based pricing.
true
Which of these is the best strategy for determining the best social media platform to use for marketing? • Try new platforms and content to see what connects • Abandon unsuccessful platforms immediately • Stay consistent with platforms and content • Switch target markets rather than change marketing strategy
try new platforms and connect to see what connects
A company is looking to implement its new advertisement that is targeted specifically towards consumers 65 and older. Which communication channel would most effectively reach the intended audience? • TV commercials • Instagram • Twitter • Snapchat
tv commercials
How many entities are in a direct channel of distribution? • Two • Three • Four • Four or more
two
Which of these situations would Twitter be best for? • Live reporting • Video sharing • Planning for the future • Researching an article
live reporting
Which of these marketing methods is the most unique to mobile marketing? • Location-based • Pay-per-click • Display ads • Social media
location based
Which of these is not a marketing function? • Manufacturing • Physical distribution and warehousing • Risk-taking • Promotion
manufacturing
Why are wholesalers, distributors, etc. not described as common intermediaries for services? • Most services are delivered directly • Services do not follow a marketing channel • Service intermediaries are retailers and agents • All intermediaries are used equally for delivery of services
most services are delivered directly
What is defined as the use of a variety of marketing channels to ensure maximum distribution? • Multi-channel distribution • Intermediary distribution • Market analysis • Consumer-based decisions
multi channel distribution
In 2011, Japan was hit with significant natural disasters. Japan is home to many of the supplier companies on which car manufacturers depend. From these manufacturers' perspective, which aspect of the External Environment affected them the most? • Natural Environment • Economic Environment • Political/Legal Environment • Social Environment
natural environment
Which aspect of the External Environment is associated with raw materials that go into the production of products? • Natural Environment • Economic Environment • Political/Legal Environment • Social Environment
natural environment
Who owns the channel in Administered VMS? • No one • The company • Whoever contractually has power • None of these
no one
What happens in the Close stage of the personal selling process? • follow-up on old books at the end of the period • obtain commitment from the customer • approach all potential customers • close an unsuccessful account
obtain commitment from the customer
What is the point of SPIN selling? • sell your product to an entire industry • position your product or service as the solution to the customer's problems • push a sale through at all costs • educate the consumer on the features of your product
position your product or service as the solution to the customer's problems
When it comes to compensation in a channel of distribution, _______ plays the most important role. • power • replicability • relative importance • market share
power
What is ala carte pricing? • price assembled as you add options • price determined by choice of rigid, set bundles • variable rate for each customer • setting a high price to skim maximum revenues
price assembled as you add options
Which of these is not a goal of promotion? • Price cuts • Awareness • Desire • Action
price cuts
What is defined as responsiveness of demand to changes in price? • Price elasticity • Price variation • Demand sensitivity • Cost benefit
price elasticity
Black Friday is best described as an example of: • Price Promotion • Public Relations Strategy • Advertising strategy • Competitive advantage
price promotion
Companies must be _________ when scanning the environment for opportunities and threats. • Proactive • Reactive • Detailed • Formal
proactive
Brand equity starts as a ________ concept, but ends up having a real ________ effect. • psychological; monetary • monetary; psychological • potential; realized • inconclusive; mediated
psychological; monetary
What is the definition of Advertising? • A form of external promotion with customers, paid for by the seller • A form of internal promotion with customers, paid for by the seller • A form of external promotion with sellers, paid for by the consumer • A form of internal promotion with employees, paid for by the seller
A form of external promotion with customers, paid for by the seller
What are outside sales? • a type of sales in which all interactions are with brand new consumers • A type of sales in which interactions are initiated by the seller • a type of sales in which all interactions are with those outside the industry • a type of sales in which interactions are initiated by the buyer
A type of sales in which interactions are initiated by the seller
What is a major difference between agents and brokers? • Agents are long term, brokers are short-term • Agents take full ownership of the product before selling • Brokers are long term, agents are short-term • Brokers take full ownership of the product before sellin
Agents are long term, brokers are short-term
What is the definition of retailing? • Selling goods and services to consumers for their own use • Marketing goods and services for resale • Any form of sale with a price markup • Selling goods and services to companies to use in running the company
Selling goods and services to consumers for their own use
What is a landing page? • A special page specifically for people who click on your ad • The web homepage • A page devoted to a certain product • The sales sectio
a page specifically for people who click on your ad
Air BnB's experience, where one part of the company began to demand expansion, required the company to be concerned with which guideline of choosing a brand name? • Longevity • Euphony • Predictabiilty • Sensibility
Longevity
Distributors are most often associated with: • Business markets or industrial products • Agricultural products • A wide span of products • A small geographic market
business markets or industrial products
Why is it acceptable for firms to focus greater efforts on employees or customers, or even change their focus over time? • Business strategy is about the entire set of exchanges of a firm • A firm's main focus should always be on customers only • Every CEO brings a new focus for the company • None of these
business strategy is about the entire set of exchanges of a firm
What should the Unique Value Proposition be matched with? • Call to Action • Average Pay-per-click • Google ranking • Keyword traffic
call to action
Which of these is the best example of display advertising? • Banner advertisement • Email promotion • Broadcast • A billboard
banner advertisement
A way of visually presenting where your brand is in consumers' minds is called a: • brand map • brand attribute • brand association • brand recognition
brand map
What is defined as an intermediary that brings buyers and sellers together temporarily? • Broker • Distributor • Producer • Agent
broker
Small changes in price do not have a very large impact on bottom line profits.
false
The landing page is the same as the web home page.
false
In a franchising arrangement, the supplier is the _______ and the dealer is the _______.
franchisor; franchisee
What is defined as groups and organizations that can exert a direct influence on the firm's ability to accomplish its goals? • Immediate Environment • External Environment • Competitors • Regulators
immediate environment
The channel of distribution for bananas can best be described as a(n)
indirect channel
Marketers tend to spend _________ on out-of-home advertisements compared to other methods. • Less • More • The same • Inconclusive amounts
less
According to the article, many supermarkets price bananas as a(n) __________ because of their low cost and ability to bring people into stores. • Loss leader • Credence good • Market standard • None of these
loss leader
The brand resides in the consumer's: • memory • conversations • peer group • desired associations
memory
What is the difference between merchant and agent wholesalers? • merchants take ownership to a product; agents act as intermediaries • merchants produce the product; agents sell it to consumers • agents take ownership to a product; merchants act as intermediaries • agents produce the product; merchants sell it to consumers
merchants take ownership to a product; agents act as intermediaries
Experts say that off-site is ________ important when compared to on-site SEO. • more • less • equally
more
What is defined as a strategy to encourage people to buy more by offering price breaks for purchasing more than one unit of a particular product? • Multiple unit pricing • Prestige pricing • Bulk discount • Loss leader
multiple unit pricing
Which of these is not a listed method of mobile marketing? • Online news articles • Websites • Apps • Mobile display ads
online news articles
What is the point of on-site SEO? • Prove to Google that your content is relevant • Prove to consumers that your content is popular • Improve business to business marketing • Increase pay-per-click
prove to google that your content is relevant
Google determines the best _________ and the best bid to determine the best ranking. • Quality score • Web traffic • Popularity • Web appearance
quality score
The social media landscape changes __________ and requires ___________ from marketers. • Quickly; flexibility • Quickly; indifference • Slowly; caution • Slowly; spontaneity
quickly; flexibility
Which of these is not a potential benefit of increasing a sharing economy? • realize potential market gains • return economic benefits • reduce environmental and waste impact • reverse effects of eroding social trust
realize potential market gains
The primary value of a brand for consumers is the: • reduction of perceived risk • association with target groups • ability to compare prices • definition of corporate social responsibility
reduction of perceived risk
Consumers compare an observed price to an internal reference price or external frame of reference. What is this called? • Reference pricing • Competitive advertising • Budget comparison • Frame of reference
reference pricing
A form of personal selling that involves securing, developing, and maintaining long-term relationships with profitable customers is defined as: • relationship selling • transactional selling • personality-based marketing • business to business selling
relationship selling
What is defined as the marketing of a for-profit product or business which benefits a nonprofit charity or supports a social cause in some way? • Cause marketing • Social marketing • Nonprofit sponsorship • Social responsibility
cause marketing
An employee with a high customer orientation is likely to pursue which kind of selling? • transactional selling • technology-based selling • efficient selling • relationship selling
relationship selling
Targeting based on "where people have been" is known as: • Remarketing • Forecasting • Market segmenting • Coupon rate
remarketing
What are the two important outcomes in a marketing interaction? • repeat business and positive word of mouth • repeat business and low prices • competitive advantage and positive word of mouth • profitability and efficiency
repeat business and positive word of mouth
What is defined as a channel intermediary that resells products to consumers? • Retailer • Wholesaler • Distributor • Agent/Broker
retailer
Which of the following is a "customer" in a Supply Chain? • Retailer • Transportation company • Warehousing unit • Supplier of raw materials
retailer
In its simplest form, a Price Promotions is known as a(n): • Sale • Advertisement • Rebate • Gift
sale
Which of these is not an advantage of sales promotions? • Sales promotions have long-term effects • Balance demand against capacity • Effectiveness measured directly • Reduce risk of initial trial
sales promotions have long term effects
What happens in the Prospecting stage of the personal selling process? • research the market • approach all potential customers • prospect the best potential product for a potential customer • search for and screen potential customers
search for and screen potential customers
Why is breaking bulk important? • sellers want to produce in bulk, consumers want to buy in small amounts • sellers dislike producing in bulk, but consumers want large amounts • breaking bulk is unnecessary • breaking bulk is inconvenient for the consumer, leading to impulse buys
sellers want to produce in bulk, consumers want to buy in small amounts
Which of these is not a part of making a pay-per-click ad? • set the highest bid available • make the ad relevant to the keywords searched • match the ad message, Unique Value Proposition, and Call to Action • Make it obvious what you want the user to do upon seeing the ad
set the highest bid available
What is price skimming? • setting a high price for a new product to skim maximum revenues • setting a low price to penetrate the market • reintroducing an old product at a different price • offering customization at a price premium
setting a high price for a new product to skim maximum revenues
Utilitarianism is mainly focused on: • Society • Individuals • Culture • Authority
society
Companies who are recruiting new employees often ask to come to college campuses and speak in classes. What type of public relations tool is this most like? • Speaking engagements • Press kits/releases • Philanthropy • Event sponsorship
speaking engagements
Advertisements should be run with _______ objectives in mind. Correct Answer • Specific and measurable • Ambiguous and attainable • Obvious and committed • Adjustable and avoidable
specific and measurable
Why is distinctiveness important? • stand out from competitors • easy for consumers to pronounce and remember • appropriate for all major languages • clearly identifies the range of the product
stand out from competitors
In the Associative Network Model, nodes represent: • stored knowledge • future knowledge • current learning • connections between ideas
stored knowledge
Social media marketing, when compared to normal social media use, uses the platform: • Strategically • Aggressively • Passively • More often
strategically
Which of these is not a benefit of individual branding? • strong connections to established brands for new brands to lean on • development of additional brand assets • protection against negative spillover effects • strategic degrees of freedom
strong connections to established brands for new brands to lean on
Which of these is not a type of vertical marketing system? • Supplier VMS • Corporate VMS • Administered VMS • Contractual VMS
supplier vms
In 2011, Japan was hit with significant natural disasters. Japan is home to many of the companies on which car manufacturers depend for parts. From these manufacturers' perspective, which actor in the Immediate Environment affected them the most? • Suppliers • Natural disaster • Shareholders • Employees
suppliers
What is defined as the general state of learning and innovation? • Technological environment • Economic Environment • Political/Legal Environment • Social Environment
technological environment
Which of these is not an example of the Immediate Environment? • Technological Environment • Suppliers • Competitors • Customers
technological environment
What is the key aspect of the definition of social media? • The ability it gives users to interact with each other • Social media is online • Content comes in app form • Narrow reach
the ability it gives users to interact with each other
What does the External Environment establish? • The background in which business is conducted • The market price of a firm's stock • The competitive environment for an industry • The background for one particular industry
the background in which business is conducted
What is the definition of profit responsibility? • The responsibility of a company to make money • The responsibility of accountants to keep good records • The responsibility of managers to be more profitable every year • The responsibility of companies to spend profits wisely
the responsibility of a company to make money
What is Search Engine Optimization (SEO)? • The strategy to try and improve the firm's ranking on Google • The strategy to try and remove a firm from Google • The strategy to ensure only certain markets can find your firm • A firm's basic online strategy
the strategy to try and improve the firms ranking on google
A form of personal selling that focuses on making an immediate sale with little or no concern for customer satisfaction or relationship development is defined as: • Telemarketing • Transactional selling • Innovative selling • Relationship selling
transactional selling
What is a philosophy that recognizes the influence of a business on profits, people, and the planet? • Triple bottom line • Bottom line • Corporate social responsibility • Ethics
triple bottom line
Bing is often dismissed, but can still be a good place to run advertisements
true
Which of these opinions was expressed in the first Wells Fargo article? • Unless upper executives are punished, the message will not stick • Only the employees "caught holding the bag" should be punished • This is a necessary mode of business transactions • All of these were expressed.
unless the executives are punished, the message will not stick
In rebate programs, what are many marketing professionals banking on? • Unwillingness of consumers to mail in the rebate • Ease of claiming the rebate • Cost of original product • Loyalty from existing customers
unwillingness of consumers to mail in rebate
The "magic lesson" teaches us how to turn what into dollars? • what consumers know about the brand • how competitors adjust in response to the brand • negative reputation of the brand or firm • the price of bestselling products
what consumers know about the brand
What is the definition of Price? • what is exchanged for the product, service, or idea • what is provided as a good or service • the treasury-backed ultimate value of a product • the combination of values for all raw values
what is exchanged for the product, service, or idea
When does the temptation to make unethical decisions increase for a salesforce? • when an unreasonable amount of pressure is placed on the salesforce • when the force is paid by salary only • if a competitor makes their profits known • at the end of a quarter, no matter the pay strategy
when an unreasonable amount of pressure is placed on the salesforce
What is the breakeven point? • where profits just cover costs • where fixed costs only are covered • where variable costs only are covered • the most desirable point for profits
where profits just cover costs
When determining which social media platform to use for marketing, where should marketing professionals look? • Where the target segment is best represented • Where the largest number of users are active • What is "cool" or trendy • Where millennials are most active
where the target market is best represented
Which of these is not a reason for the increasing popularity of digital marketing? • Difficult to track effectiveness • Easily targeted • Interactive medium • Cost-effective
difficult to track effectiveness
The relationship between J.A.M and ExxonMobil is an example of which type of intermediary relationship? • Distributor • Wholesaler • Retailer • Agent/Broker
distributor
Which of these is not a goal of cultivating retail atmospherics? • drawing in every person as a potential consumer • positioning strategy and image • interior and exterior • storefront and merchandising displa
drawing in every person as a potential consumer
What are the two key words in the definition of the Marketing Environment? • Dynamic; context • Competitors; decisions • Operate; compete • None of these
dynamic; context
What is the definition of euphony? • ensuring the brand name sounds good • publishing pronunciation details for the brand name • focusing the brand on consumer likes and dislikes • naming the company to reflect the highest-grossing segment
ensuring the brand name sounds good
What is defined as the process of systematically gathering and interpreting relevant data to identify external opportunities and threats? • Environmental Scanning • Market analysis • SWOT analysis • Industry appraisal
environmental scanning
Which step of the Process of Consumption best lines up with the Desire aspect of Goals of Promotion? • Evaluation of alternatives • Reaction • Need recognition • Interest
evaluation of alternatives
In the acronym LAURA, the "U" stands for understand. What should a marketing professional understand? • exactly what happened to cause the problem • how the customer will discuss your product to others • whose fault the problem is • how the product should be used
exactly what happened to cause the problem
What is defined as powerful societal forces that influence all entities in the immediate environment? • External Environment • Internal Environment • Backstage Players • Logistical Forces
external environment
Environmental scanning is mainly concerned with looking for: • External opportunities and threats • Internal opportunities and threats • External strengths and weaknesses • Internal strengths and weaknesses
external opportunities and threats
What is defined as the communications between the company and its customers? • External promotion • Internal promotion • Interactive communication • Active advertising
external promotion
Consumers compare an observed price to an internal reference price or external frame of reference. What is this called? • Reference pricing • Competitive advertising • Budget comparison • Frame of reference
external reference
What is defined as the idea that people would try to avoid choosing extreme options and rather choose the "safe option" and take a middle path? • Extremity avoidance • Psychological pricing • Attraction effect • Extremity attraction
extremity avoidance
Which social media platform has the widest customer base? • Facebook • Twitter • LinkedIn • YouTube
"Legal" is the same as "ethical" in the philosophical frameworks discussed in this course.
false
All personal selling is required to take place in face-to-face settings.
false
All promotional tools are equally effective in all promotional situations.
false
Changing demographics do not happen quickly enough to affect the way companies do business.
false
Companies should always wait until they are absolutely sure that they will fulfill the requirements of all ethical approaches before introducing any action.
false
Customers are always the group that requires the most attention from the firm.
false
Exchanges can be made between the firm and both the Immediate and External Environment
false
Only Gen X and millennial demographics are represented on social media.
false
Which of these is not a typical way of transporting physical products? • Trucks • Barge • Train • All of these are typical methods of transport
all of these are methods of transport
The brand name must provide _________ meaning for the product. • secondary • primary • tertiary • institutional
secondary
A platform that receives renting fees receives those fees from the _______ and shares those fees with the _______. • seeker; owner • owner; seeker • recommender; seeker • platform; owner
seeker; owner
Brands marketed as more luxury options (such as Lexus) are likely to utilize ______ distribution intensity. • selective • intensive • broad-coverage • strategically placed
selective
When pricing a product in other countries, what should companies be sure to do? • set prices that cater to cultural beliefs • nothing different from standard pricing strategy • always price up • always price down
set prices that cater to cultural beliefs
What is odd-even pricing? • setting prices a few dollars or cents under an even number • setting prices at alternating odd and even values • bundling products in odd or even numbered quantities • a method used for clearance sales only
setting prices a few dollars or cents under an even number
The old CEO of Uber was fired by the board of directors of his company, and Uber therefore had a significant change in leadership of the firm. Which aspect of the Immediate Environment created this change? • Shareholders • Intermediaries • Customers • Suppliers
shareholders
The advertising examples given in the lecture videos best demonstrate which aspects of the SUCCESs model for cutting through clutter? • Simple and Unexpected • Credible and Promotional • Emotion and Concrete • Simple and Concrete
simple and unexpected
When the company first started, Southwest's message in advertisements and managerial actions clearly communicated its commitment to low prices. What is this the best example of? • Simplicity • Unexpectedness • Concreteness • Emotion
simplicity
What is flat-rate pricing? • single rate per time period • different rate for each customer • price set to fluctuate with treasury bonds • setting a low rate to penetrate the market
single rate per time period
Mostly, business is made up of: • smaller, more frequent transactions • huge, multimillion dollar transactions • competitions with other firms • customer service orientations
smaller, more frequent transactions
What is defined as the demographic characteristics, culture, and values of a population? • Social Environment • External Environment • Demographic Constraints • Popular Characteristics
social environment
What has been a problem of implementing Peer to Peer sharing? • finding platforms where it is legal and available • finding platforms where consumers express demand • determining products • determining companies who will invest
finding platforms where it is legal and available
Compared to digital or broadcast advertising, print advertisements tend to lack: • Flexibility • Clarity • Ingenuity • Words
flexibility
What is the best way to have excellent off-site SEO? • Have high quality content • Have an easily navigated webpage • Keep content the same as long as possible • Use repetitive, homogenous links
having high quality content
Employees with high customer orientation will thrive in what kind of job? • High customer interaction • Low customer interaction • These employees can go to any job • These employees always choose their own job
high customer interaction
What is determined by the default bid aspect of setting up a pay-per-click ad? • How much the firm pays per click • The firm's budget per week • Keyword popularity • Effectiveness of landing page
how much a firm pays per click
Brand awareness is associated with the ability of the brand to __________ who is offering a product or service, while brand association is associated with the ability of the brand to ____________ from competitors. • identify; differentiate • differentiate; identify • respond; attack • separate; connect
identify; differentiate
What is the best definition of common sense as a practical ethical test? • If you are hesitant about an action, don't do it • If you are hesitant about an action, get a second opinion • If you are hesitant about an action, determine if you could defend it in public • None of these
if you are hesitant about the action, don't do it
See's Candy Store is known for handing out free samples of their chocolate. What is the main hope of See's when utilizing this strategy? • Immediate purchase • Later purchase • Increase competitive ability • Run an advertisement
immediate purchase
When employees with high customer orientation are embedded in an organization that emphasizes (and benefits from) customer satisfaction, profits are likely to: • increase • decrease • stay the same • exponentially decrease
increase
Which of these is not a reason that people shop? • increase in social status • social experiences • thrill of the chase • fantasy
increase in social status
Which of these is not a benefit of sub-branding? • increased market share • marketing power and promotional advantages of the institutional brand • new brand asset development, similar to individual brand • market flexibility
increased market share
Marketing functions are often performed by ________ in the marketing channel. • Intermediaries • Producers • Consumers • All players
intermediaries
Advertising is best thought of as a(n): • Investment • Immediate payoff • Dividend • ROI
investment
Barge transportation is good for moving _________ at what type of speed? Large amounts of product at slow speeds • Small amounts of product at high speeds • Large amounts of product at high speeds • Small amounts of product at slow speeds
large amounts of products at slower speeds
Are companies using prestige pricing more or less likely to use the odd/even pricing strategy than standard retail companies? • less • more • equally likely • all companies use this strategy at all times
less
Which social medial site is best suited for business to business marketing? • LinkedIn • YouTube • Facebook • Twitter
What is defined as setting a popular item at an extremely low price to attract people to the store? • Loss leader • Gimmicks • Low-cost strategy • Mass discounting
loss leader
What is Black Friday an example of? • Loss leader pricing • Prestige pricing • Flat-rate pricing • Price skimming
loss leader pricing
Brand associations within a brand map can also have _______ attached to them. • mood and emotion • price • organization • affiliation
mood and emotion
There are __________ intermediaries in most channels of distribution. • One or more • Exactly two • Zero • Five or more
one or more
How is power determined in administered VMS? • One player in the channel has enough power to take control • Through contractual relationships • Through outright financial ownership • Power is distributed evenly
one player in the channel has enough power to take control
Google's display network is huge, with approximately ___________ monthly impressions (as of fall 2017). • One trillion • 10 million • A hundred thousand • 6 billion
one trillion
Which of these is not an example of out-of-home advertising? • Online ad videos • Billboards • Signage • Car wraps
online ad videos
What is a main difference between online display advertising and pay-per-click? • Online display is visual; Pay-per-click is text • Online display is text; Pay-per-click is visual • Online display is audio; Pay-per-click is tangible • Online display is effective; Pay-per-click is inconclusive
online display is visual; pay per click is text
What is the number one way to market to mobile users? • Optimize webpage views through mobile sites • Link mobile users to the standard site • Focus on email-based methods • Create several versions of an app
optimize webpage users through mobile sites
When a company is looking to increase the wages of all employees, which aspect of the triple bottom line are they most likely concerned with? • People • Planet • Profit • None of these
people
Frontline Interfaces can be: • people and/or equipment • representatives and/or consultants • equipment only • company agents only
people and/or equipment
Why is telling stories such an impactful way to advertise? Correct Answer • People are drawn into stories • Consumers are irritated with failure • Storytellers inevitably fail • Consumers become bored with stories quickly
people are drawn to stories
When a supervisor doesn't emphasize the importance of customer satisfaction, employees with higher customer orientation: • perform fewer customer service behaviors than they might have • perform more customer service behaviors than they might have • perform a varied amount of customer service behaviors • all supervisors surveyed emphasized the importance of customer satisfaction
perform fewer customer service behaviors than they might have
Which of these is not a common type of public relations tools? • Personal interviews • Press kits/releases • Speaking engagements • Philanthropy
personal interviews
A frontline interaction between a company representative and a potential buyer designed to influence a purchase decision is defined as: • outside selling • inside selling • personal selling • team selling
personal selling
A nonprofit that provides education for underserved communities is looking to run a new promotion. The company is deciding to either provide several statistics or a single, personal story from a student relying on funds. Which strategy best encompasses the idea of being Concrete? • Personal story • Statistics • Both are equally effective • There is no way to determine effectiveness
personal story
Which of the following marketing functions are not taken on by the franchisee? • Physical distribution • Risk taking • Financing • Promotion
physical distribution
What is defined as the means of getting the product, service, or idea to the customer? • Place • Product • Price • Promotion
place
What is defined as the general state of politics, including ideology and stability, plus regulatory systems on all levels? • Political/Legal Environment • Natural Environment • Technological Environment • Social Environment
political/legal environment
What is determined through off-site SEO? • Popularity • Webpage traffic • Relevancy • Overall ranking
popularity
A company begins to market its new product by saying that 10% of sales will be donated to a specific charity. Which type of cause marketing does this best fall under? • Portion of purchase • Buy one, give one • Point of sale • None of these
portion of purchase
In the Love of Lemons video, the creator of Love of Lemons uses the profits of her sales to fund her volunteer work to help victims of sex trafficking. Which form of cause marketing does this model best fall under? • Portion of purchase • Buy one, give one • Point of sale • None of these
portion of purchase
If an individual's rights have been violated by an act that benefitted society as a whole (and the net result to society is positive), which method of ethical reasoning will find the act to be ethical? • Rights approach • Utility approach • Both • Neither
utility approach
In the example from the lecture video, the sheriff threw one suspect to an angry mob while letting the other eleven suspects go free. If the sheriff believes that this overall outcome was ethical, which method of moral reasoning is he aligned with? • Utility approach • Rights approach • Unique approach • None of these
utility approach
What is defined as a method of ethical or moral reasoning that focuses on society and the net consequences that an action might have? • Utility approach • Rights approach • Societal approach • Individual approach
utility approach
Which of the following describes peak load or congestion pricing? • variable rate depending on time of day or week • charging the peak industry price at all times • variable price based on region or county • price assembled as you add options
variable rate depending on time of day or week
What is dynamic pricing? • variable rate for each customer • standard, flat rate for each customer • price determined from bargaining • price set to change with stock prices
variable rate for each customer
Which practical ethical test is best described as getting a second opinion? • Ventilation • Big Four • Making something public • Common sense
ventilation
Which of these is not a key category of digital promotion? • Video • Display • Social media • Affiliate
video
Which of these is an important characteristic of YouTube? • Video-based search engine • 140-character limit • Business to business marketing • Forward-looking
video based search engine
There is a trend towards _______ elements in social media • Visual • Audio • Tangible • Multimedia
visual
According to the article, what is a current concern of many organizations along the banana supply chain? • Vulnerability to fungus • Over-filling current demand • Too much variety in species • Competition
vulnerability to fungus
What is the key difference between cost-based pricing and value-based pricing? • where you start the process • how you value each layer of business • weight placed on customer service • focus on quantity vs. focus on quality
where you start the process
What is defined as a channel intermediary who purchases larger quantities of consumer products and breaks them into smaller quantities to resell to retailers? • Wholesalers • Level 1 Retailers • Distributors • Agents
wholesalers
A firm should focus on creating a set of __________, ____________ exchanges with the environment • Sustainable; favorable • Competitive; analytical • Marketing; inexpensive • Immediate; external
sustainable; favorable
What is defined as an organization's appraisal of its internal Strengths and Weaknesses and its external Opportunities and Threats? • SWOT Analysis • Environmental Scanning • Competitor Evaluation • Price Assessment
swot analysis
Consumer values are moving towards environmental sustainability, and this sentiment has the ability to change how firms both produce products and dispose of waste.
true
Extremism in politics has the ability to affect businesses in that country
true
In today's society, it is even more important for companies to demonstrate commitment to corporate social responsibility.
true
It is easier to determine the effectiveness of sales promotions than advertisements.
true
People can do unethical things and still think of themselves as ethical people.
true
Public Relations are generally believed more so than advertisements.
true
Relationship selling tends to be more long-term than is transactional selling.
true
SPIN selling is about asking questions of potential customers.
true
Some people innately have more of a customer orientation than others.
true
When choosing keywords, firms should look at which words have the highest monthly traffic.
true
Within the supply chain, marketers are specifically concerned with the marketing channel.
true
What is the largest inhibitor to the growth of sharing economies? • trust • initial cost • quality concerns • advertising
trust
A "brand" is confined to the physical name or logo associated with the firm
False
A grocer has purchased a truckload of frozen dinners for $3 each. The grocer operates on a margin of 30% for frozen food items. What is the retail price to the consumer? • $4.29 • $3.35 • $2.60 • $5.78
$4.29
With the expansion of globalization, which guideline of choosing a brand name should become a greater concern? • Appropriateness • Magnetism • Freelancing • Universality
Appropriateness
Air BnB uses a model where the business integrates people who own homes into the market where consumers express demand. This is most accurately described as which type of sharing economy? • Business + Person • Business to Person • Peer to Peer sharing • Person to Business
Business + Person
Of the sharing economy models, which is the most similar to traditional business models? • Business to Person • Business + Person • Peer to Peer • Business to Business
Business to Person
If Procter & Gamble suddenly broke from its current strategy of individual branding, which guideline of choosing a brand name would they have broken? • Consistency • Protectability • Institutional Branding • Appropriateness
Consistency
What is the hallmark of a contractual VMS? • Coordination among channel members is achieved through contractual relationships • No litigation determines power • The company owns the channel • Financial obligations determine control
Coordination among channel members is achieved through contractual relationships
Addi is driving from Stillwater to Dallas, and sees a McDonald's sign with golden arches (but no words). She automatically begins to think of her hunger. What kind of cue activated this thought? • External cue • Internal cue • Coercive cue • Detrimental cue
External cue
Brand Recall tasks are generally seen as much easier than Brand Recognition tasks.
False
Company employees are only able to act (the last "A" in the acronym LAURA) if the problem was caused by an issue on the firm's side of the transaction.
False
If Oreo cookies come out with a new flavor of s'mores Oreo cookies, what are they using in order to turn brand equity into dollars? • Promotional Advantage • Word of mouth • Licensing • Product purchase
Promotional Advantage
The competitive retail price for a stereo system is $300. Retail stores normally have a margin of 30% for such items. Wholesalers normally have a margin of 20% for such items. The manufacturer's price is unknown. What steps should be taken to determine the manufacturer's highest price? • Solve for Retail price, then Wholesale price, then Manufacturer price • Solve for Wholesale price, then Manufacturer price, then Retail price • Solve for Retail price, then Manufacturer price, then Wholesale price • Solve for Manufacturer price, then Wholesale price, then Retail price
Solve for Retail price, then Wholesale price, then Manufacturer price
Which of these companies is more likely to use an institutional branding strategy for a new product or service? • Sony • Procter & Gamble • ServiceMaster • Nestle
Sony
Seeing a brand can cause consumers to automatically think of the attributes of the firm.
True
What is the definition of culture? • The set of values, ideas and attitudes that are shared among a group of people • The personal values held by an individual • The laws and regulations set by the government of a country • None of these
The set of values, ideas and attitudes that are shared among a group of people
It is possible that the parts of a company that are not product related are beginning to be just as important - or even more important - than the products themselves.
True
When does activation occur? • With either external or internal cues • With only external cues • With only internal cues • With social media-based marketing
With either external or internal cues
Which of these is not a goal covered by Public Relations Advertising? • Action • Awareness • Interest • Desire
action
Posts that have a(n) __________ element tend to do well on Instagram • Artistic • Intrinsic • Grayscale • Audio
artistic
In the AT&T video, Cinthya Allen talks about diversity in the company. Which aspect of the triple bottom line is she primarily discussing? • People • Profit • Planet • None of these
people
What is a significant difference between how Agents/Brokers conduct business when compared to other types of intermediaries? • Agents/brokers never take ownership of the product • Agents/brokers take ownership of the product for less than one year • Agents/brokers charge more per product sold • Agents/brokers work on behalf of the end consumer
Agents/brokers never take ownership of the product
The added value delivered by the brand over the functional benefits or book value is called: • Brand Equity • Brand Evaluation • Brand Recognition • Brand Interest
Brand Equity
Promotion is ultimately about making: • Effective exchanges between the seller and the customer • Efficient exchanges between suppliers and retailers • Good communication efforts between management and employees • The best sale price possible
Effective exchanges between the seller and the customer
Face-to-face communication is necessary for true "frontline" transactions.
False
Manufacturers that produce national brands only sell products with their own brands on them.
False
Which of these is the best example of brand fit? • Lyft's name and logo • Kodak's distinctive name • Proctor and Gamble's broad reach • Xerox's accessibility
Lyft's name and logo
Why do retailers exist? • They add value by adjusting discrepancies between the needs of consumers and sellers • They add value by increasing discrepancies between the needs of consumers and sellers • They do not add value but do add convenience • People always buy more from retailers than they do directly from producers
They add value by adjusting discrepancies between the needs of consumers and sellers
People are becoming more interested in who produces a product and how they produce it (ex. labor conditions and animal testing).
True
What is Spreading Activation? • When nodes are energized and brought into working memory • The creation of new nodes 2 • When consumers spread brand knowledge through conversation • An external cue
When nodes are energized and brought into working memory
The principle of extremity avoidance suggests that to increase sales of one product: • a company should have both cheaper and more expensive options • a company should price everything at a lower price than the target product • a company should price everything at a higher price than the target product • a company should leave prices ambivalent and focus on quality
a company should have both cheaper and more expensive options
The acronym LAURA helps us to analyze and adjust when: • a product or service has disappointed the consumer • a product or service has exceeded expectations of consumers • employees have provided poor customer service • consumers are belligerent with frontline employee
a product or service has disappointed the consumer
What is the attraction effect? • a target brand appears more attractive when it is compared to inferior brands • a target brand appears more attractive when compared to equally attractive brands • competitor's brands appear more attractive when compared to your product • attractive salespeople will sell more product
a target brand appears more attractive when it is compared to inferior brands
What is defined as an intermediary that represents either a buyer or a seller on a long-term basis? • Agent • Wholesaler • Broker • Distributor
agent
Why do firms use SEO? • All companies want to have the #1 ranking on Google • Only the most competitive companies use SEO • SEO is required for firms by ONET • All companies want to reduce their web traffic
all companies want to have #1 ranking on google
Which of these is not a demographic change faced by companies in the United States? • People are living longer • Ethnic and racial diversity is increasing • The population is growing • All of these are current US demographic changes
all of these are us demographics
Which of these is a goal of SEO? • Be a top result of as often as possible • Be as selective as possible with viewership • Include the maximum possible number of advertisements • Focus only on on-site SEO
be top result as often as possible
Which of these is not a type of brand association? • brand memories • brand attributes • brand benefits • brand attitudes
brand memories
Assume that Netflix has introduced a new bundle service for their streaming services. Bundle 1 includes a base price of $9 to cover 25 hours of streaming for the month and variable price of $0.10 for every 30 minutes over that 25 hours. Bundle 2 includes no base price, but a variable price of $0.25 for every 30 minutes of streaming per month. When a consumer attempts to decide which bundle to use, what is he or she determining? • Breakeven point • Value of the brand • Effectiveness of bundling • Price elasticity
breakeven point
Which of the following media categories commands the biggest slice of advertising dollars today? • Broadcasting • Out-of-home • Print • Direct mail
broadcasting
The Political/Legal Environment, when compared to the governmental agencies of the Immediate Environment, is more: • Broadly focused • Specific • Industry-specific • None of these
broadly focused
What is defined as the marketing of two or more different products in a single package price? • Bundle pricing • Target selling • Group discount • Multiple unit pricing
bundle pricing
Which of these is not part of the Three C's Model for Price Setting? • Capitalization • Costs • Consumer assessment • Competitors' price
capitalization
A brand map determines brand associations from the perspective of the: • consumer • competitor • management • board of directors
consumer
How does assorting (in retail) add value? • consumers want more choices • consumers want fewer, more streamlined options • producers must increase product lines to meet assortment needs • retailers must expand physical locations to meet needs
consumers want more choices
When entering into a franchising contract, both the franchiser and the franchisee give up some level of: • Control • Advertising • Logistics • Funding
control
What is an advantage to corporate VMS? • Control of all aspects of the system • Low taxes • Large trust in all channel members • Low cost
control all aspects of the system
What is the goal of a sales promotion? • Convincing consumers to "act now" • Increase likelihood of later purchase • Increase market share • Clear inventory
convincing consumers to act now
A security company brings in an advertising strategy that details the company's history with defending a national bank. Which part of the SUCCESS model does this best describe? • Credibility • Simplicity • Unexpectedness • Emotion
credibility
The goal of "remind and reinforce" applies to advertisements aimed at: • current customers • future customers • any customers
current customers
The "value created" of a product or service is determined from the perspective of the: • customer • employer • competition • stockholders
customer
The degree to which an individual possesses an enduring belief in the importance of customer satisfaction is defined as: • customer orientation • business orientation • customer service • good management
customer orientation
What happens in the Presentation stage of the personal selling process? • determine prospect needs and present benefits; handle objections • present customer service evaluations • ask for financial commitment • establish initial contact
determine prospect needs and present benefits; handle objections
Most services are delivered via which kind of channel? • Direct channel • Indirect channel
direct channel
Distributor responsibilities always include: • Distribution functions and promotion • Pricing and promotion • Promotion only • None of these
distribution functions and products
What is defined as factors such as employment, income, inflation, interest rates, productivity, and wealth that influence the buying behavior of consumers and businesses? • Economic Environment • Social Environment • Consumer Analysis • Extenuating Circumstances
economic environment
A nonprofit that provides education for underserved communities is looking to run a new promotion. The company is deciding to either provide several statistics or a single, personal story from a student relying on funds. Out of the following, which part of the SUCCESS model would the personal story best encompass? • Emotion • Simplicity • Credibility • Unexpected
emotion
Which aspect of the SUCCESS model is more common in the United States than in other countries? • Emotion • Simple • Credible • Concrete
emotion
Integris Hospital in Oklahoma City has forecasted a growing population in the surrounding area, but is also facing a significant nursing shortage. Which aspect of the Marketing Environment is Integris most likely to be focused on? • Employees • Customers • Shareholders • Intermediaries
employees
Only certain demographics can be reached using Facebook.
false
Print ads are no longer effective in today's world.
false
Repetition of primary keywords is the only requirement for moving a firm up on Google's search engine rankings.
false
Standard webpage views are optimal for mobile access.
false
The External Environment is a stable playing field for every fiscal year.
false
The immediate goal of all advertising is to make exchange happen.
false
The message put in place by the Sender is always identical to the message received by the Receiver.
false
The most successful salespeople focus on the beginning aspects of the SPIN method (e.g. Situational and Problem questions).
false
Transactional selling focuses on the customer relationship.
false
You do not need to understand margin and markup if you are using value-based pricing.
false
You should quote prices of related items for consumers to use as anchors, because using unrelated product prices is always ineffective.
false
Law typically _________ public opinion. • Follows • Leads • Is caught up with • None of these
follows
Which of these is not a benefit of institutional branding? • greater individualized identity for new products • marketing power in the marketplace • lower promotional costs • enhancement of positive spillover
greater individualized identity for new products
What is defined as marketing efforts to produce, promote, and reclaim environmentally sensitive products? • Green marketing • Corporate philanthropy • Cause marketing • Environmental scanning
green marketing
What are the two functions of a brand? identify and differentiate • locate and determine • compete and improve • market and recruit
identify and differentiate
The Marketing Channel is made up of: • Individuals and organizations • Competitors and suppliers • Retailers and producers • Buyers and sellers
individuals and organizations
Companies on social media should remember to: • Interact with followers • Post and disappear • Provide sales pitches only • Reply angrily to frustrated consumers
interact with followers
What is defined as frontline interactions in the Communications Triangle? • Interactive Communication • Internal Communication • External Communication • Realistic Communication
interactive communication
In the Communications Triangle model, which type of interaction is modeled by a double-headed arrow? • Interactive promotion • External communication • Intrinsic value • Internal promotion
interactive promotion
Which of these is not part of the "Big Four" as a practical ethical test? • Manipulation • Greed • Laziness • Speed
manipulation
Why has readership of most print media declined in recent years? • Many readers obtain information online • Literacy has decreased • All magazines have gone out of business • Magazines move to print too quickly
many readers obtain information online
In the Transactional Model of Communication, who fulfills the role of the Sender? • Marketer • Consumer • Market forecast • Retailers
marketer
In advertising, a marketing professional should know both her _______ and her _______. • Message; audience • Competitors; budget • Stock prices; audience • Message; retailers
message; audience
Many firms utilize a "brick and click" approach. Which of the following best describes this approach? • A mixture of physical and online selling • Online selling only • Physical selling only • Online selling is unsuccessful without a physical presence
mixture of physical and online
Which of these is not a focus of the triple bottom line? • Planning • People • Planet • Profit
planning
Which of these is not a step in the personal selling process? • close • prospecting • presentation • approach
prospecting
What is defined as a method of ethical or moral reasoning that focuses on individuals and whether or not an act itself is ethical? • Rights approach • Utility approach • Societal approach • Welfare approach
rights approach
Pay-per-click marketing is also known as: • Search marketing • Online advertising • Bidding • Google mining
search marketing
What makes a marketing channel a vertical marketing system? • The channel is managed by a single channel member • The channel's power is equally split between all members • Power goes to the member that makes the most money • Size of each channel member is roughly equal
the channel is managed by a single channel member
Who owns the marketing channel in corporate VMS? • The company • The retailers • All members share power • Whoever contractually holds power
the company
Mark-up can be greater than 100%.
true
How did changing the name of an island from Hog Island to Paradise Island help that island's tourism industry? • Added value came from a more appealing name • A functional benefit came from changing the island • The book value of the island increased • Changing the name did not help
Added value came from a more appealing name
What are the two parts that make up a brand? • Brand Label and Brand Price • Brand Price and Brand Issue • Brand Name and Brand Mark • Brand Product and Brand Name
Brand Name and Brand Mark
An agreement whereby a company permits another organization to use its brand on other products for a fee is defined as: • Brand licensing • Joint venture • Brand Addition • Franchising
Brand licensing
What is the definition of a private-label brand? • Brand name owned by a reseller • Brand of high-end, "privatized" companies • Brands of privately owned companies • Brand name that has achieved the status of generic trademark
Brand name owned by a reseller
What is the definition of a national brand? • Brand name owned by the producer of the product carrying the brand • Brand name carried in at least 60% of national stores • Brand that has achieved national recognition • Brand that has achieved the status of generic trademark
Brand name owned by the producer of the product carrying the brand
In an interview at an oil company, Anna is asked to name all of the firm's closest competition in the area. As she lists off all the brands that she can think of, Anna realizes that she is performing: • Brand recall • Firm recognition • Idealistic competition • External cue
Brand recal
The example of the purchase of the PanAm brand demonstrates how: • Brands can have value beyond the book value of the firm • Brands are worthless without assets as collateral • Promotional advertising can save a business • Brands are unable to expand past their original industries
Brands can have value beyond the book value of the firm
What is the definition of Public Relations? • Form of external promotion through channels perceived to be noncommercial • Form of internal promotion through any and all channels • Form of external price promotion • The least effective commercial strategy
Form of external promotion through channels perceived to be noncommercial
Which of these is not a branding strategy? • Franchise Branding • Individual Branding • Institutional Branding • Sub-branding
Franchise Branding
Which of these companies could be said to follow the guideline of conciseness most closely? • Gap • Harley-Davidson Motor Company • American Eagle Outfitters • Jacobs by Marc Jacobs
Gap
What is the difference between generalist and specialist wholesalers? • Generalists sell many different products; specialists sell a specific range • Specialists sell many different products; generalists sell a specific range • Generalists market to companies; specialists can market to individual consumers • Specialists market to companies; generalists can market to individual consumers
Generalists sell many different products; specialists sell a specific range
When Mariah needs money, she goes to an ATM instead of driving to her bank. When Mariah utilizes this ATM that represents her home bank, what kind of interaction has taken place? • Human customer, Machine service provider • Traditional Interactions • Machine Summons • Automated Service Delivery
Human customer, Machine service provider
Unilever houses many brands, such as SlimFast nutrition drinks, Dove soap, and Skippy peanut butter, that all sell different products. What branding strategy is used here? • Individual branding • Institutional branding • Sub-branding • Umbrella branding
Individual branding
What does "noncommercial" mean in regards to Public Relations? • Information not paid for by the company • Advertising paid for by the company • Any information not distributed through television • Editorial newspaper articles
Information not paid for by the company
Which branding strategy makes it easier for a company's reputation to influence products? • Institutional • Individual • Sub-branding • Universal branding
Institutional
Which of these is not a part of the acronym LAURA? • Recognize • Understand • Listen • Act
Recognize
What is the main difference between the equations for margin and mark-up? • Margin is (Price - Cost)/Price and Mark-up is (Price - Cost)/Cost • Margin is (Price - Cost)/Cost and Mark-up is (Price - Cost)/Price • There is no difference, they are synonyms • Margin is (Price - Competition)/Price and Mark-up is Price - Competition
Margin is (Price - Cost)/Price and Mark-up is (Price - Cost)/Cost
Book value of assets + Brand equity = • Market value of brand • Price of brand • Consumer share of brand • Market share in industry
Market value of brand
Can the order of the AIDA model be changed? Why or why not? • No, each step must be achieved before moving to the next • Yes, each goal is individual and separate • No, consumer reactions must drive the order • Yes, changing the order keeps competitors on edge
No, each step must be achieved before moving to the next
What is the supply chain? • Organizations and activities involved with the flow of products from raw materials to the customer • Promotions and offers involved with the flow of activities from raw materials to the customer • Products and services involved with the flow of cash from the consumer to the firm • None of the above
Organizations and activities involved with the flow of products from raw materials to the customer
Which of these is not a form of a sharing economy? • P2B • B2B • P2P • B+P
P2B
Which of these is not a way to turn brand equity into dollar value? • Price Competition • Word of mouth • Brand Extension • Licensing
Price Competition
Which of these is the best example of Ambient factors lining up with company goals? • a restaurant that encourages lingering with quiet background noise and relaxed music • a restaurant that encourages lingering with loud, harsh music and a cold dining room • a restaurant that encourages quick turnover with quiet background noise and relaxed music • None of these are good examples
a restaurant that encourages lingering with quiet background noise and relaxed music
What are inside sales? • a type of sales in which interactions are initiated by the buyer • a type of sales in which inside departments sell to each other • a type of sales in which interactions are initiated by the seller • a type of sales in which companies within the same industry sell to each other
a type of sales in which interactions are initiated by the buyer
What is a key account? • a very large customer that provides a significant portion of revenues • a small customer that provides an average amount of revenues • an account that links the company to other accounts • the account a company holds with a minor supplier
a very large customer that provides a significant portion of revenues
A firm needs to move a small number of expensive products very quickly. Which method of transportation should the company use? • Air • Road • Water • Pipeline
air
In the SPIN model, what is the purpose of situation questions? • breaking the ice and establishing a relationship • gather data and relevant information • acclimate a new salesperson to a new consumer • all of these
all of these
In the article "Wells Fargo's Phony-Account Scandal Explained," the fault of this scandal is placed on: • The executives • The lower-level employees • The culture of competitiveness • All of these
all of these
What happens in the Follow-Up stage of the personal selling process? • maintain relationships • all of these • revisit existing customers • ensure customer satisfaction
all of these
What is generally credited as the reason for Southwest Airlines' success over time? • Their focus on good relationships with employees • The lack of intermediaries in purchasing tickets • Low prices of tickets • All of these
all of these
What is the "slippery slope" of ethics? • The progressive rationalization of unethical decisions • How people talk themselves into unethical decisions over time • The progression of smaller decisions to larger unethical choices • All of these
all of these
What is the main advantage of using a sub-branding strategy? • ability to take on the advantages of individual and institutional branding • ability to avoid the disadvantages of individual and institutional branding • general flexibility • all of these
all of these
What is a key feature of decoy products that consumers are intended to use as reference points? • should share similar characteristics to the target product • should be less attractive than the target product • can be priced higher than the target product to make target more accessible • All of these are correct
all of these are corect
Which of these is not an Intermediary in the Immediate Environment? • Creditors • Wholesalers • Retailers • All of these are Intermediaries
all of these are intermediaries
Which of these does not happen in a "smart industry"? • companies fight with price only • more complex pricing • greater subtlety of pricing options • greater use of techniques from other fields
companies fight with price only
In the 2000s, Microsoft came out with the first portable music player - the Zune. When Apple came out with the iPod, consumers viewed it as an improved product when compared to the Zune. From Microsoft's perspective, which actor in the Immediate Environment was most responsible for the change in their sales? • Competitors • Shareholders • Employees • Intermediaries
competitors
What is a main risk of using email promotions? • Consumers ignoring emails • Cost of sending mail • Privacy issues • Cannot target emails effectively
consumers ignoring emails
Allowing employees to volunteer their time to various charitable organizations is an example of: • Corporate philanthropy • Charitable culture • Volunteer focus • Employee-backed donations
corporate philanthropy
What is defined as the charitable donations of profits and resources given by corporations to nonprofit organizations? • Corporate philanthropy • Charity planning • Social responsibility • Profit maximization
corporate philanthropy
Which of these is not a practical ethical test? • Detailed utility model analysis • Making something public • Ventilation • Big four
detailed utility model analysis
In the SPIN model, what is the purpose of implication questions? • determine implications of the problems • ask for financial commitment • determine the problems currently faced by the customer • get the customer to project how our product would help their problems
determine implications of the problems
According to the article, bananas must be monitored for what throughout the supply chain process? • Ripeness • Size • Taste • Price
ripeness
The "company" in the Communications Triangle represents the: • Formal company management • Frontline employees • Customers • Company reputation
formal company management
Pinterest is the only social media platform that is ________-looking. • Forward • Backward • Present • Outward
forward
What is defined as an arrangement in which a supplier grants a dealer the right to sell products in exchange for some type of consideration? • Franchise • Retailing • Wholesaling • Distribution
franchise
Which of these is the best example of Contractual VMS? • Franchising • Retailing • Ownership • Agent/Broker
franchising
It is often most important for which kind of employee to have a strong customer orientation? • Front line • Strategic • Behind-the-Scenes • Managing
front line
Who is interacting in Interactive promotions? • Frontline employees and customers • Top management and employees • Employees and top competitors • Background employees and technology
frontline employees and customers
Which of these is not a characteristic of a good landing page? • Full company information • Clear offer • Quality content offer • Simple form
full company information
What happens in the Preapproach stage of the personal selling process? • reach as many potential consumers as possible • research the product and study its features • gather information about the prospect and determine how best to approach • approach the prospective customer
gather information about the prospect and determine how best to approach
In the SPIN model, what is the purpose of Need-Payoff questions? • transition into transactional selling • bring the conversation to a high-pressure moment • get the consumer to project how our product would help their problems • focus on the updates and innovations of the product
get the consumer to project how our product would help their problems
What is the main difference between advertisements and sales promotions? • Goal: of long-term or immediate payoff • Methods: using frontline employees or management • Methods: print or technology-based • Goal: of increasing sales or decreasing necessary employees
goal of long term or immediate payoff
The Environmental Protection Agency was formed in 1970 and began to monitor the environmental impact of United States companies, forcing many to change some of their practices. Which exchange in the Immediate Environment is this an example of? • Governmental bodies and the firm • Governmental bodies and suppliers • Governmental bodies and political/legal • Intermediaries and the firm
governmental bodies of a firm
A change in price in an elastic market is likely to show _______ change in demand when compared to a similar change in an inelastic market. • Greater • Smaller • Variable • Equal
greater
If an individual's rights have been violated by an act that benefitted society as a whole (and the net result to society is positive), which method of ethical reasoning will find the act to be unethical? • Rights approach • Utility approach • Both • Neither
rights approach
What does the "brick vs click" conflict refer to? • The decision to sell either in a physical location or online • A firm's decision to sell products or services • The decision of whether to use a direct or indirect channel
the decision to sell either in a physical location or online
What is the definition of the Marketing Environment? • The dynamic context within which firms operate • The environment of competitors within which firms make decisions • The mass of suppliers and consumers for whom firms compete • The firm-specific marketing budget within which marketers operate
the dynamic context within the firm operates
A cashier asking customers if they would like to donate at checkout is an example of Point of Sale cause marketing.
true