Principles of Marketing Final

Electron Corp purchased proton corp by buying all of its assets and ownership equity. This is an example of an ______

Acquisition

Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called ________ and includes braodcast, mobiles and online forms

Advertising

The use of short term incentives to encourage the sale of a product or service is called

Sales promotion

Which of the following promotion categories is most likely to include the use of displays, discounts, coupons and demonstrations

Sales promotion

______ are a form of product that consists of activities, benefits, or satisfactions offered that are essentially intangible and do not result in ownership of anything

Services

What is true in regard to services?

Services are a form of product that consists of activities, benefits, or satisfactions offered for sale

Marketing mix begins with

building an offering that brings value to target customers

Which of the following is an internal source for new product ideas?

Company employess

If a consumer purchases a new flat screen "smart" television which can connect to services like Netflix and Pandora, what is the core customer value involved?

Connection to entertainment and information

At its most basic form, a marketing channel consists of the producer and the _________

Consumer

With direct marketing, companies can interact with customers in all of the following ways EXECPT ____________

in person

Amazon and Geico approach customers via websites or mobile apps this is an example of _______ marketing

Direct

Which of the following statements is true of direct marketing?

Direct marketing offers sellers low cost alternative for reaching markets

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

Downstream partners

Brand _______ is the differential effect that knowing the brand name has on a customer response to the product and its marketing

Equity

Erica wants to replace her old washing machine with an new one. In order to get the maximum value for her money, she plans to spend substantial time and effort gathering information and making product comparisons before making and actual purchase In this instance Erica is planning to buy a(n) ______ Product

Exclusive product

John fascination with his grandmothers sherbet recipes inspired him to come up with a recipe for "Sherbetter", a gourmet sherbet for the American market. Which of the following stages of the new product development process does this exemplify?

Idea generation

The product life cycle presents challenges. Which of the following is LEAST likely to require a company to adapt to its marketing strategy

Increased manufacturing costs

If a service employee provides the service, Then the employee becomes part of the service. This is an example of service _______

Inseparability

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

Intermediaries

Which of the following is a significant challenge presented by the product Lifecyle?

New product development

Product improvements, product modifications, and original products can all be classified as ____________

New products

Which of the following is true about online direct marketing?

Online direct marketing allows sellers to create immediate, timely and personal offers

Online marketing includes marketing via the internet using company websites, email marketing, blogs and _______

Online video

_______ refers to the amount of money charged for a product or service

Price

_________ is the only element in the marketing mix that produces revenue

Price

Which of the following is true with regard to price

Price is the sum of all the values that customers give up to gain the benefits of having a product

What is true in regard to products

Products include services, events, persons, places, organizations, ideas, or a mixture of these

Producing a product or service and making it available to buyers requires building relationships not only with customers but also with key suppliers and resellers in the company's __________

Supply chain

Why are customers often considered the most important sources of new product ideas?

The company can analyze customer questions and complaints to find new products that better solve customer problems

A company's total marketing communications mix consists of a whole bunch of shit. Which of the following best describes those tools

The promotion mix

In addition to specific promotion tools, marketing communication requires _______ for greatest impact

The promotion, product, price and place to be coordinated

Which of the following is true of value-based pricing?

The targeted value and price drive decisions about what costs can be incurred and the resulting product design

Which of the following is most likely true of marketing channel decisions

They often involve long term commitment to other firms

The sets of firms that supply companies with raw materials, components parts, information, finances and expertise needed to create products or services are known as ___________

Upstream partners

A ___________ is made up of the company, suppliers, distributors and customers who partner to improve the performance of the entire system

Value delivery network

Factors a company considers in setting its prices include all of the following excepts

Value of the product on the pre owned market

Distribution channel decisions require long term commitments between firms. A reason for that is ___________

When they set up distribution through franchises, independent dealers or large retailers they cannot readily replace these channels with company owned stores or internet sites if conditions change

Price is important to mangers ____________

because a small percentage improvement in price can generate a large percentage in profitability

Online companies include all of the following except ______

brick and mortar

product planners need to consider products and services on three levels. Each level adds more customer value. the most basic level is ________, which addresses the question "what is the buyer really buying?"

core customer value

Effective ________ pricing involves understanding how much value consumers place on the benefits they receive from the product and setting a price that captures value

customer oriented

A particular firm added three new products this year to increase variety for customers. Two of the product failed to reach minimum sales quotas. Which of the following is LEAST likely to have been the cause?

product research was too extensive

Which of the following is the fastest growing form of direct marketing?

digital marketing

WHich of the following is one of the five major promotion tools

direct and digital marketing

Which major promotion category uses catalogs, direct mail, e mail, mobile marketing and social medias

direct and digital marketing

Which of the following involves introducing less expensive versions of established brand name products

good- value pricing

New product development starts with _______

idea generation

All of the folklowing are benefits of online direct marketing for buys except

live product demonstrations

Which of the following is a common reason for new product failure

low product development costs

A _______ is a set of interdependent organizations that help make a product or service available for use by the consumer or business user

marketing channel

All of the following are benefits if direct marketing for sellers except _________

mass reach and immediate returns

Advantages of direct and digital marketing for sellers include all of the following except

need for sales training

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

persoanl selling

________ includes sales presentations, trade shows, and incentive programs

personal selling

Which of the following promotion tools involves building up a good corporate image

public relations

The term "Supply Chain" is considered limited because it ______________

suggests that planning begins with raw materials an factory capacity

product planers need to consider products and services on three levels. At the second level , product planners must

turn the core benefit into an actual product

What sets the ceiling for product price

variable costs

utah ulcer question

vaulue based pricing