TEST 3 STUDYING

According to your text, ____ are small technology-based firms operating in international markets almost immediately after their establishment and realizing as much as 70% of their sales outside the domestic home market. "natural globals" "multinational corporations" "born globals" "born multinationals" "multinational enterprises"

"born globals"

What is a primary difference between an industrial distributor and a manufacturers' agent? A manufacturers' agent does not acquire title nor usually take possession of the products whereas an industrial distributor does. A manufacturers' agent is employed by the manufacturers while an industrial distributor is independent. An industrial distributor is employed by the manufacturers while a manufacturers' agent is independent. A manufacturers' agent rarely adds any value to the marketing channel while an industrial distributor reduces costs significantly. An industrial distributor does not form relationships with customers for repeat business whereas a key asset of a manufacturers' agent is his knowledge of his customers.

A manufacturers' agent does not acquire title nor usually take possession of the products whereas an industrial distributor does.

Which of the following characteristics distinguish online media from traditional marketing? Experience, networking, and personal contact Social networking, personal contacts, control, and salesmanship Addressability, interactivity, accessibility, connectivity, and control Environment, responsiveness, customization, and affordability Dynamic responsiveness, control, friendliness, and attention-getting

Addressability, interactivity, accessibility, connectivity, and control

___ are web-based journals in which writers can editorialize and interact with other internet users. Widgets Apps Blogs Podcasts Wikis

Blogs

____ involves consumers' ability to be connected with marketers along with other consumers. Accessibility Addressability Interactivity Connectivity Control

Connectivity

Which of the following refers to the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing? Digital orientation Digital media Electronic marketing Digital electronics Electronic processing

Electronic marketing

Which of the following regulates and makes rules for privacy, fraud, and misappropriation of copyrighted intellectual property, as well as other illicit internet activities? Federal Internet Commission Federal Communication Commission Federal Trade Commission Federal Bureau of Investigations Individual states

Federal Trade Commission

The trade alliance that includes Brazil, Argentina, Chile, and other countries is known as OPEC. APEC. MERCOSUR. NAFTA. the Common Market.

MERCOSUR.

What links producers to consumers through the purchase and reselling of products or contractual agreements? Marketing intermediaries Distributors Suppliers Middle marketers Marketing channels

Marketing intermediaries

Which of the following is the physical handling of tangible goods, supplies, and resources? Inventory management Materials handling Transportation Order processing Outsourcing

Materials handling

The agreement between the United States, Canada, and Mexico that merges these three countries into one marketplace is called EU. MERCOSUR. APEC. NAFTA. GATT.

NAFTA.

____ includes any attempt to intentionally conduct dishonest activities online. Racketeering Online spam Digital identity theft Online fraud Online bribery

Online fraud

___ are audio or video files that can be downloaded from the internet with a subscription that automatically delivers new content to listening devices or personal computers. Wikis Blogs Podcasts Virtual realities Social networks

Podcasts

___ relates to perceptions of value and is the most flexible element of the marketing mix. Distribution Pricing Store location Product mix Promotion

Pricing

____ adds time and place utility to a product by moving it from where it is made to where it is purchased and used. Warehousing Containerization Distribution Materials handling Transportation

Transportation

If a newly formed country wanted to increase its international trade and reduce worldwide tariffs, it would most likely try to become a part of NAFTA. WTO. MERCOSUR. APEC. EU.

WTO.

A product line is defined as products that can be designated as a unique offering among the organization's products. products that an organization makes available to consumers. a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations. a specific group of products that are offered to the market. products that are sold by the same firm or a division of a firm.

a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations.

Marketers' ability to obtain digital information is referred to as accessibility. addressability. interactivity. connectivity. control.

accessibility.

The supply chain includes producers, wholesalers, and retailers. suppliers, producers, intermediaries, and customers. suppliers and suppliers' suppliers. all entities that facilitate product distribution. buyers, sellers, marketing intermediaries, and agents.

all entities that facilitate product distribution.

A product mix is best described as all products offered by a firm. product, distribution, promotion, and price. many products sold by one firm. all products of a particular type. a group of closely related products that are considered a unit because of market, technical, or end-use considerations.

all products offered by a firm.

The gross domestic product is a measure of the profit made by all firms in a nation. the average annual earnings per person in a nation. a measure of the types of products produced by a nation. an overall measure of a nation's economic standing. a ratio of domestic products to products produced in foreign countries.

an overall measure of a nation's economic standing.

Smartphones contain ____ that help consumers access more information about businesses. treatments digits widgets actions applications

applications

The ____ is the difference in value between a nation's exports and its imports. net trade value export/import ratio gross domestic product balance of payments balance of trade

balance of trade

The role of an export agent is to bring buyers and sellers from different countries together and collect a commission for arranging sales. purchase products from different companies and sell them to foreign countries. help a firm to make direct investments in foreign countries. contact domestic firms about the opportunities available in exporting. arrange for licensing agreements between domestic and foreign firms.

bring buyers and sellers from different countries together and collect a commission for arranging sales.

A public warehouse is a business that leases storage space and related facilities for logistics to other firms. large, centralized warehouse that focuses on moving rather than storing goods. company that provides a complete array of logistical services for businesses. company-operated facility for storing and shipping products. warehouse used to store the personal property of many different customers.

business that leases storage space and related facilities for logistics to other firms.

A single leader who controls and organizes a marketing channel is called a channel champion. distribution leader. marketing maverick. channel captain. lead distributor.

channel captain.

When one company in a marketing channel has the ability to influence another member's goal achievement, the company has channel authority. channel power. marketing leadership. a channel captain. channel team leader.

channel power.

When a product tries to capitalize on the brand equity of two separate brands, marketers are using licensing. dual-branding. partnerships. brand extension. co-branding.

co-branding

One of the most important benefits of e-marketing is the ability of marketers and vendors to share resources. customers to share information. government regulators to share information. competitors to share information. customers to obtain digital information.

customers to share information.

A goal of logistics is to reduce ____ or how long it takes to complete a process. time standards processing time production throughput measure cycle time

cycle time

Electronic media that function using digital codes are called digital marketing. digital media. electronic marketing. digital electronics. e-marketing.

digital media

A marketing channel is defined as a group of individuals and organizations that consumes about one-half of every dollar spent on products in the United States. directs the flow of products from producers to customers. links producers to other marketing intermediaries. takes title to products and resells them. manages transportation and warehousing functions.

directs the flow of products from producers to customers.

A commonly used computerized means of integrating order processing with production, inventory, accounting, and transportation is web-based inventory management. just-in-time. electronic data interchange. universal product codes. activity-based management.

electronic data interchange.

The value, measured in either marketing or financial terms, associated with a brand's strength in a market is referred to as brand loyalty. value. share. equity. association.

equity

Most European countries use a common currency, the yen. euro. dollar. pound. lira.

euro.

Government restrictions on the amount of a particular country's currency that can be bought or sold are known as embargoes. quotas. exchange controls. import controls. balance of trade controls.

exchange controls.

A special form of licensing in which one company grants another company the right to market its product and name in accordance with its standards in exchange for a financial commitment is called a joint venture. contract manufacturing. direct licensing. franchising. a strategic alliance.

franchising.

Organizations that employ standardized products, promotion campaigns, and prices for all markets are practicing what is known as customization. internationalization. globalization. regionalization. nationalization.

globalization.

Aggressive pricing is typical during the ____ stage of the product life cycle. decline growth introduction plateau stabilization

growth

Packaging that is designed to flow through the distribution channel easily is called ____ packaging. category-consistent multiple innovative handling-improved logistic

handling-improved

A(n) ____ is a concept, philosophy, or image. product good idea service issue

idea

The four major stages of a product life cycle include prosperity, recession, depression, and recovery. specialty, convenience, shopping, and unsought goods. decline, stabilization, exposure, and growth. introduction, growth, maturity, and decline. awareness, interest, trial, and adoption.

introduction, growth, maturity, and decline.

Vertical channel integration results in two or more different management teams for each member of the channel. is made possible when a large corporation divests itself of smaller subsidiaries. is a shift back to the conventional channel of distribution. combines institutions at the same level of operation. is made possible by purchasing the operations of a channel member.

is made possible by purchasing the operations of a channel member.

Order processing, inventory management, materials handling, warehousing, and transportation are the activities that define wholesaling. retailing. logistics. channel management. drop shipping.

logistics

In marketing, family packaging means packaging products in a quantity suitable for use for an average-sized family. putting a set of related products all in the same package. making all of a company's or product line's packaging look similar. putting the same brand name on all of a company's products. designing and selling only products that are related.

making all of a company's or product line's packaging look similar.

A ____ brand usually requires a producer to become involved in distribution, promotion, and pricing decisions. dealer manufacturer private distributor store wholesaler

manufacturer

Sales usually start to decline during the ____ stage of the product life cycle. termination growth decline introduction maturity

maturity

Freight transportation companies that offer several different shipment methods are called megacarriers. intermodal transporters. freight forwarders. shipping experts. superfreighters.

megacarriers

Many companies use more than one marketing channel to distribute their products to the same target market, a tactic called multiple channeling. strategic channel alliance. intensive distribution. multichannel distribution. market splitting.

multichannel distribution.

Firms that have operations or subsidiaries located in many countries are referred to as multinational enterprises. strategic alliances. joint ventures. international marketers. export alliances.

multinational enterprises.

The practice of contracting with an organization to perform some or all business functions in a country other than the country in which the product will be sold is known as licensing. contract manufacturing. outsourcing. offshore outsourcing. offshoring.

offshore outsourcing.

If a firm decides to contract its logistics functions to third parties that have no managerial authority within the marketing channel, it is using outsourcing. sole-sourcing. logistics. wholesaling. distribution services.

outsourcing

Marketing channels create four types of utility for consumers including place, time, possession, and form. location, form, availability, and suitability. form, time, location, and promotion. marketer, retailer, wholesaler, and producer. position, price, possession, and place.

place, time, possession, and form.

Special interest groups and regulatory bodies are ____ forces that must be taken into account in international marketing. socioeconomic technological economic social and ethical political and legal

political and legal

Products used directly in the production of a final product but that are not easily identifiable are categorized as accessory products. component parts. MRO supplies. assembly components. process materials.

process materials

Maquiladoras are exchange controls from central banks in Latin American countries. production facilities in north-central Mexican states. import-export agents of the Mexican government. global marketing programs established in Latin American countries. freight forwarders from Mexico.

production facilities in north-central Mexican states.

The internet can be referred to as a ____ medium because users determine which websites they are going to view. selective connected pull push interactive

pull

Minerals, chemicals, timber, and agricultural products are considered process materials. accessory materials. MRO supplies. component parts. raw materials.

raw materials.

Convenience products are relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort. frequently purchased items for which buyers are willing to exert considerable effort. frequently purchased items that are found in certain retail outlets. items that are expensive but are easy to purchase. items that require some purchase planning and for which the buyer often will not accept substitutes.

relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort.

Using only some of the available outlets to distribute a product is called selective distribution. intensive distribution. channel conflict. vertical channel integration. exclusive distribution.

selective distribution.

Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products. Correct! shopping specialty service convenience unsought

shopping

Sometimes business partnerships are formed between traditional rivals competing for market share in the same product class. These partnerships are known as trading companies. contract manufacturers. joint ventures. strategic alliances. licenses.

strategic alliances.

The coordination of all the activities involved with the flow and transformation of supplies, products, and information throughout the supply chain to the ultimate consumer is called supply chain management. vertical channel integration. horizontal integration. industrial distribution. marketing channel management.

supply chain management

A trademark signifies that the owner has exclusive use of a brand and others are prohibited from using it. that a product was manufactured by a particular company. the full and legal name of an organization. the level of quality of a product based on its legally protected rights. the inventive use of a brand name or brand mark to identify a company's products.

that the owner has exclusive use of a brand and others are prohibited from using it.

Another name for the Common Market. for the European Union is the Common Market. the European Market. the Euro. NAFTA. AECO.

the Common Market.

The full and legal name of an organization is called the trademark. legal title. organizational name. brand name. trade name.

trade name.

A company not involved in manufacturing that links buyers and sellers in different countries is usually referred to as a franchise. contract manufacturer. strategic intermediary. trading company. joint venture.

trading company.

One of the biggest mistakes a marketer can make when engaging in digital marketing is to treat it like a traditional marketing channel. focus on competitors' digital marketing efforts. fail to devote sufficient resources to it. focus on technology. focus on price.

treat it like a traditional marketing channel.

A ____ is a type of software that creates an interface that enables users to add or edit the content of some types of websites. widget digital diary blog podcasting wiki

wiki

Which of the following describes a company hiring a foreign firm to produce a designated volume of its product to specification? Licensing Contract manufacturing Exporting Importing Direct investment

Contract manufacturing

____ refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information. Accessibility Addressability Interactivity Connectivity Control

Control

____ uses the internet, mobile, and interactive channels to develop communication and exchanges with customers. Digital marketing Digital media Electronic marketing Digital electronics E-marketing

Digital marketing

In which stage of the product life cycle do profits begin to decrease? Introduction Growth Maturity Decline Recovery

Growth

Which of the following is often used to raise revenue for a country and/or to protect domestic products? Quota Warning label Embargo Import tariff Exchange control

Import tariff

Labeling is important for three specific reasons, including promotional and legal reasons. What is the third reason? Marketing Branding Strategy Informational Packaging

Informational

____ allows customers to express their needs and wants directly to a company in response to its marketing communications. Sociability Addressability Interactivity Accessibility Control

Interactivity

What are the three primary tasks of order processing? Order receipt, order delivery, order follow-up Order handling, inventory management, order delivery Materials handling, warehousing, order delivery Order handling, order entry, order delivery Order receipt, order checking, order delivery

Order handling, order entry, order delivery

Which of the following best defines the interest stage in the product adoption process? The buyer tries to find the product in a retail store. The buyer considers the benefits and determines whether to try the product. The buyer tries the product to determine its usefulness. The buyer seeks information and is receptive to learning about the product. The buyer uses objective sources to learn about the product.

The buyer seeks information and is receptive to learning about the product.

A business partnership between a domestic firm and a foreign firm is known as a joint venture. an international partnership. a multinational enterprise. licensing. exporting.

a joint venture.

The ability of a marketer to identify customers before they make a purchase is called connectivity. addressability. interactivity. accessibility. control.

addressability.

According to the text, a product is defined as anything the customer receives in an exchange. the physical object the customer receives in an exchange. the service that is rendered to a customer. the idea that the customer receives in an exchange. goods and services the customer receives in an exchange.

anything the customer receives in an exchange.

A distinguishing factor between a brand name and a brand mark is that a brand name creates customer loyalty. consists of words. identifies only one item in the product mix. is registered with the U.S. Patent and Trademark Office. implies an organization's name.

consists of words.

When influencers fail to disclose a connection to a brand they promote, they may be charged with deceptive advertising. online fraud. identity theft. misappropriation of intellectual property. extortion.

deceptive advertising.

The stage of the product life cycle when marketers consider eliminating products that are not contributing to profitability or the overall effectiveness of a product mix is the ____ stage. maturity decline growth introduction reorganization

decline

Which of the following types of distribution allow distribution and consumption to occur at the same time? Digital distribution Selective distribution Multichannel distribution Exclusive distribution Intensive distribution

digital distribution

When products are introduced into one nation from another, acceptance is far more likely if prices are set very low. when bribes are paid to local officials to aid distribution. if there are similarities between the two cultures. if packaging is adjusted to match local preferences. when retailers are given incentives to push the products.

if there are similarities between the two cultures.

The purchase of products from a foreign source is called exporting. dumping. importing. licensing. venturing.

importing.

Traditionally, most firms entered international markets globally. incrementally. accidentally. domestically. quickly.

incrementally.

The three levels of brand loyalty from strongest to weakest are preference, insistence, recognition. insistence, recognition, preference. insistence, preference, recognition. recognition, preference, insistence. insistence, preference, indifference.

insistence, preference, recognition.

The term dumping refers to the sale of products sold in foreign markets that cannot be sold in the United States. products sold in foreign markets at prices above those charged in the United States. all discontinued U.S. products in foreign countries. products sold in foreign countries at unfairly low prices. products sold in foreign markets that cannot pass safety standards in the United States.

products sold in foreign countries at unfairly low prices.

A specialty product requires minimal effort to purchase. is purchased frequently. requires purchase planning, and the buyer will usually not accept substitutes. is generally less expensive than other items in the same product class. prompts the purchaser to make comparisons among alternatives.

requires purchase planning, and the buyer will usually not accept substitutes.

Possession utility is best described as products being available in places where the customers wish to purchase them. the customer having access to the product to use now or store and use later. having a company's products available when a customer needs them. being able to legally own a product despite restrictions on trade. getting the products to the consumers in as little time as possible for ownership.

the customer having access to the product to use now or store and use later.

Order processing is defined as the receipt and transmission of sales order information. the second stage in a physical distribution system. the four main tasks. the same as order handling. electronic processing of information.

the receipt and transmission of sales order information.

Multichannel distribution is characterized as illegal under the Robinson-Patman Act. distribution channels that typically carry exclusive products, such as Rolex watches. marketing environments that are highly competitive. manufacturers that forbid an intermediary to carry products of competing producers. the use of a variety of marketing channels to ensure maximum distribution.

the use of a variety of marketing channels to ensure maximum distribution.

Physical distribution activities may be performed by a producer, wholesaler, retailer or not performed at all. the customer. investors in any of the previous three. solely through technology. they may be outsourced.

they may be outsourced.