MKTG 480 Exam 3 Quizzes (all)

Channel intermediaries enhance utilities by providing a wide array of specific functions including ________________.

- Facilitating functions - Physical distribution functions - Transaction and communication functions

__________________ is (are) considered by the customer when making a purchasing decision.

- Time invested in the purchasing process - Costs incurred by the customer in acquiring that bundle of benefits - Opportunity costs of choosing one offering over another

Distribution strategies can be __________________.

1. Intensive 2. Selective 3. Exclusive

______________ is/are distinct advantages of personal selling over the other marketing communication methods.

Ability to tailor the message

In a(n) ________________, the sheer size and power of one of the channel members places it in a position of channel control.

Administered VMS

__________________ is not part of the AIDA model.

Advertise

___________ uses media to deliver the message.

Advertising

When customers quickly and easily become bored with any given advertising campaign, this is considered __________.

Advertising Wearout

____________ perform a variety of physical distribution, transaction and communication, and facilitating functions that make exchange possible.

Agent Intermediaries

A firm setting its promotion budget as whatever funds are left over after everything else that's considered a necessity is paid for is using the ______________ method.

All-you-can-afford method

___________________________ is the best reason to use television media advertising.

Appeals to multiple senses

The Internet created a rise in ___________________ as more and more people decided to meet online in order to sell products to the highest bidder.

Auction Pricing

James is trying to determine the best price for his new fishing poles. He decided to divide all of his costs by the number of fishing poles he will be manufacturing, to come up with a price. James is using _________________.

Average-cost pricing

When a seller advertises an item at an unbelievably low price to lure customers into a store, and then refuses to sell the advertised item and instead pushes a similar item with a much higher price and higher margin the seller is participating in the illegal practice of _________________.

Bait & Switch

______________ are small boxes containing graphics and text and have a hyperlink embedded in them.

Banner Ads

___________________ entails gaining a commitment from a customer to a basic product or system that requires continual purchase of peripherals to operate.

Captive Pricing

In an administered VMS, the sheer size and power of one of the channel members places it in a position of channel control. The lead player in such situations may be referred to as the ______________, signifying its ability to control many aspects of that channel's operations.

Channel Captain

Ultimately, ________________ can occur in which channel members experience disagreements and their relationship can become strained or fall apart.

Channel Conflict

______________ is the degree to which any member of a marketing channel can exercise influence over the other members of the channel.

Channel Power

____________ describes the level of competing messages on a medium.

Clutter

______________ involves an explicit or implicit threat that a channel captain will invoke negative consequences on a channel member if it does not comply with the leader's request or expectations.

Coercive Power

Mark runs a driving range in New York City. He has noticed that within a 15-minute walk you can get to three competitors. Mark decides to look at his competitors pricing and then determine his best pricing strategy based on all of the information. Mark is utilizing ___________________.

Competitor based pricing

Text, photos, charts, and graphics are all part of Web _____________.

Content

A (n) __________________ consists of otherwise independent entities that are bound together legally through contractual agreement.

Contractual VMS

In ________________ a channel member has invested in backward or forward vertical integration by buying a controlling interest in other intermediaries.

Corporate VMS

Intermediaries engage in ________________ when they accumulate products from several sources and then make those products available down the channel as a convenient assortment for consumers.

Creating Assortments

Jameson has wanted to purchase an alarm system for his car for a couple a months and has been waiting for the right price. Last week Jameson watched as the price for the alarm system he wanted shot up, the next week the price came back down. Jameson has just observed _____________________.

Deceptive Pricing

_____________ takes place when the receiver interprets the meaning of the message.

Decoding

_____________________ is NOT one of the four types of promotional budgets.

Desire and action method

Financing, market research, risk-taking, and other services are considered to be _________________________.

Facilitating Functions

_____________ are incurred over time, regardless of volume.

Fixed Costs

Entrepreneur magazine reports that ________________ remain the highest-potential startup and growth mechanism for small-business owners, and it is an effective way to expand a distribution channel quickly and efficiently.

Franchise Organizations

____________ measures the average number of times a person in the target market is exposed to the message.

Frequency

Operating with _______ price/_____ benefits can be problematic. Some firms use price skimming strategies, especially on product introductions, even when all the bugs have yet to be worked out of the product.

High, Low

______________ is used by firms that rely on periodic heavy promotional pricing, primarily communicated through advertising and sales promotion, to build traffic and sales volume.

High/Low Pricing

___________________ is one of the three distinct advantages of personal selling.

Immediate Feedback

Prospective customers call a toll-free number for more information. This is used to identify and qualify prospects and is considered ________________.

Inbound Telemarketing

____________ goals lets a customer know that Hilton has opened a new property in Tahiti.

Inform

The goal of _____________ advertising is to promote an industry, company, family of brands, or some other issues broader than a specific product.

Institutional

"Cotton: the fabric of our lives" is an example of industry sponsored _________________.

Institutional Advertising

_____________________ is not one of the three principal types of product advertising discussed in your text.

Institutional Advertising

_____________ is a strategic approach to communicating the brand and company message to targeted customers in ways that are clear, concise, and consistent and yet are customizable as needed to maximize the impact on a particular audience.

Integrated Marketing Communications

When the objective is to obtain maximum product exposure throughout the channel, a(n) ________________ strategy is designed to saturate every possible intermediary and especially retailers.

Intensive Distribution

Promotion feeds _______________ through strong persuasive communication.

Interest

Sharon needs to reach the 18-25 demographic for her tattoo parlor. ______________________ media is the best media for her needs.

Internet

__________ are more graphic, visually interesting ads that move across the Web page.

Interstitials

Promotion should be viewed as a _____________________.

Investment

______________________ is a good reason to use radio advertising.

It can target specific audiences

______________ results from contracts such as franchise agreements or other formal agreements.

Legitimate Power

Paul needs very precise audience selection to reach his market of antique cigar ashtray collectors. _____________ media is the best choice.

Magazines

_________________ uses the sales price as a basis of calculating the markup percentage.

Markup on sales price

In a push strategy ________________________.

Members of the channel are targeted for promotion

__________ take title to the product.

Merchant Intermediaries

The _____________ is placed into some channel or medium so that it can make its way to the intended receiver.

Message

__________________ require a certain percentage markup be applied to all products.

Minimum markup laws

To be ______________ is to be in a position to be maximally flexible, adaptable, and speedy in response to the many key change drivers affecting business today such as rapidly shifting technology, discontinuous innovation, fickle consumer markets, and relentless market globalization.

Nimble

The distortion or interference that can occur at any stage of a communication process is referred to as ________.

Noise

Doug runs a hardware store. He puts prices on the products and scans them when they get to the register. The price that is marked is the price that will be charged, no exceptions. Doug uses ___________________.

One Price strategy

Traditionally, logistics was thought of as an internal flow going one direction _______________.

Outbound logistics

___________________ is the most popular approach to promotion budgeting.

Percent-of-sales method

_____________ is a two-way communication process with the goal of securing, building, and maintaining long-term relationships with profitable customers.

Personal Selling

A coupon or special offer would contribute to the goal to _______________.

Persuade

Geoff works at an Aspen ski shop. He has just gotten a shipment of new snowboards and realizes that the company has priced its snowboards higher than the rest of the boards in Geoff's shop. Since Geoff took a marketing class in college, he knows that the company is using ______________.

Prestige Pricing

The measure of customers' price sensitivity estimated by dividing relative changes in quantity sold by relative changes in price becomes central to whether a product can even be viably introduced within the context of a firm's financial objectives

Price Elasticity of Demand

_______________ could result in overall higher prices for consumers since various competitors are all pricing the same to maximize their profits.

Price Fixing

Jean Claude has just completed a new line of designer handbags. He wants the price to communicate to the customer that the handbags are high quality, so he sets it high. He knows that after this season, the price will lower. Jean Claude is using _______________.

Price Skimming

Veggie Vitality will send retailers a check if they promote their vegetable-based smoothies in the retailer's promotional efforts. Veggie Vitality uses ______________.

Promotional Allowances

Creating a perception about price merely from the image the numbers provide the customer demonstrates ___________________.

Psychological Pricing

A manufacturer employing a ________________ focuses much of its promotional investment on the end-user consumer.

Pull Strategy

____________ implies that many of the promotional activities take place from the manufacturer downward through the channel of distribution.

Push strategy

From a legal standpoint, it is essential that ________________ are offered to all customers on an equally proportionate basis so that small buyers as well as large buyers follow the same rules for qualification.

Quantity Discounts

A ____________ appeal centers on benefits an offering can provide to a customer.

Rational

___________ measures the percentage of individuals in a defined target market that are exposed to an ad during a specified time period.

Reach

The intended _____________ is the individual who is the target of the communication.

Receiver

Bella Luna is a specialty baby furniture store. Most of the items in the store are designer, and, therefore, tend to be more expensive that other baby furniture. Recently Bella Luna started to put the manufacturer's suggested retail price next to the price they charge in order to show the savings. Bella Luna is using ___________________.

Reference Pricing

When a channel member is respected, admired, or revered based on one or more attributes, that member enjoys ________________ within the channel.

Referent Power

________________ deals with how to get goods back to a manufacturer or intermediary after purchase.

Reverse Logistics

The motivating force for suppliers to work with large chain stores is that the stores can offer huge ______________ in the form of writing big orders.

Reward Power

______________ is the company's local representative with each customer.

Salesperson

A typical challenge for marketers in the final stage of the communication process is _______________ which concerns the interpretation by receivers based on their own inherent backgrounds and biases.

Selective Perception

An appeal that uses ordinary folks doing ordinary things is a _____________ style.

Slice of life

A ________________represents all organizations involved in supplying a firm, the members of its channels of distribution, and its end-user consumers and business users.

Supply Chain

The coordination of value-adding flows among the entities in a way that maximizes overall value delivered and profit realized is called _______________.

Supply chain management

Pricing objectives very frequently are designed for profit maximization, which necessitates a ________________________ pricing strategy.

Target ROI

Amanda needs a media that gives the multiple sensory impact to demonstrate the offerings of her new day spa. ______________________ media would be her best choice.

Television

For most products, as long as the customer perceives the ratio of price and benefit to be at least at equilibrium, perceptions of __________ will likely be favorable.

Value

______________________ is the aim of participating suppliers, customers, and other stakeholders in which the members of the network combine capabilities according to their expertise and the competencies required from the situation.

Value Co-creation

With __________________, customers are allowed even encouraged to haggle about prices.

Variable Pricing

_____________ fluctuate with volume.

Variable costs

____________ consists of vertically aligned networks behaving and performing as a unified system.

Vertical Marketing System (VMS)

________________ may take the form of sharing important product knowledge.

Expert Power

_____________ is the shortening or collapsing of marketing channels due to the elimination of one or more intermediaries, and is common in the electronic channel.

Disintermediation

Little kids and puppy dogs help execute a(n) _________________ appeal.

Emotional

Through the _______________ the sender translates an idea to be communicated into a symbolic message consisting of words, pictures, numbers, and gestures in preparation for transmittal to a receiver.

Encoding

The TV ad with a movie star talking about Boniva is an example of __________.

Endorsement Appeal

___________________ is a software application designed to integrate information related to logistics processes throughout the organization.

Enterprise Resource Planning Systems (ERP Systems)

_____________ also often arises because a significant personal selling effort is required with the consumer before product purchase.

Exclusive Distribution

________________ help a sales person be successful.

Product Knowledge

Internet and direct mail are useful because __________________________________.

They can target specific markets

A channel of distribution consists of interdependent entities that are ___________________.

ligned for the purpose of transferring possession of a product from producer to consumer or business user