Cbad 120 Test 3
match the term with the correct definition
merchant wholesaler: takes title to the goods, assume all risks and sell to other wholesalers, businesses, customers, or retailers agent: negotiate sales, don't own products, and perform limited number of functions in exchange
The combination of all product lines offered by a manufacturer is called the product...
mix
select the three types of utilities created by retailers
ownership, time, place
which of the following utilities are provided by marketing intermediaries, also known as middle men.
ownership, time, place
the (blank) is the external container that holds and describes the product, and influences consumers' attitudes and buying decisons
packaging
a (blank) pricing strategy is the practice of pricing a new product low to attract many customers and rapidly gain market share
penetration
a low initial price entry used to attract many customers and help a company gain market share is (blank) pricing
penetration
(blank) is the most flexible of the promotion methods because it gives marketers the greatest opportunity to communicate specific information that might answer an objection.
personal selling
all of the following information is usually presented on a products label except..
product classification
during which stage of new product development is a prototype of the product created?
product development
when a manufacturer of a hybrid vehicle attempts to create an image of the product as helping to save the environment, it is using...
promotional positioning
which of the following are push strategies?
provide promotional incentives, manufacturers offering incentives to retailer to display product
the premise behind (blank) pricing is that it encourages purchases based on emotion rather than rational responses to the price.
psychological
any information about an individual, a product, or an organization that is distributed to the public through the media and thats not paid for or controlled by the seller is known as
publicity
suppose you want to introduce your store, Very Vegetarian, to consumers, but you have little money. blah blah blah
publicity
the promotional strategy in which heavy advertising as sales promotion efforts are directed toward the consumers so that they will request products from retailers is known as (blank) strategy
pull
the promotional strategy in which the producer uses wholesaler discounts personal selling, sales promotion contests, and other promotional tools to convince wholesalers and retailers to stock and sell its merchandise is known as a (blank) strategy
push
match each definition with the type of discount it describes
quantity: reflect the economies of purchasing in large volumes Seasonal: purchase goods or services out of season help even out production capacity. Promotional:attempt to improve sales by advertising price reductions on selected products to increase customer interest.
this is a type of psychological pricing in which a lower-priced item is compared to a more expensive brand in hopes that the consumer will use the higher price as a comparison price
reference pricing
(blank) is the design and operation of facilities to receive, store, and ship products.
warehousing
a lumberyard that buys plywood from a producer and sells it to a home improvement retail store is an example of
wholesaler
Any physical good, service, or idea that satisfies a want or need is a
Product
Which of the following are social factors that influence how, why, and when a consumer may buy a product or service?
Reference groups, social class, culture
list the four steps for calculating the value of a product, starting with step one.
1. Identify customer 2. identify their best alternative 3. determine products difference 4. calculate value based on its differentiation
When it comes to the marketing of products, what are the three things that consumers are really looking for?
A way to get a job done, solve a problem, or gain some enjoyment.
the promotion mix consists of..
Advertising, personal selling, publicity, and sales promotion
Promotion includes which of the following?
Advertising, publicity, personal selling, sales promotion
Characteristically, digital advertising...
Allows companies to directly interact with its customers, is often less expensive than traditional advertising, caters to both large and small companies.
By using data that has been collected, marketers use marketing (blank) to measure, interpret, and evaluate their marketing decisions
Analytics
This psychological factor is defined as positive or negative feelings a person has about something.
Attitude
(blank) is the decision process and actions of people who purchase and use products.
Buying
Which of the following are two common approaches to segmenting markets?
Concentration and multisegment
A (blank) is anyone who shops for products and decides whether and what to buy.
Consumer
(blank) is the standardizing of products by dividing them into subgroups and displaying and labeling them
Grading
To implement the marketing concept, a firm must.
Have good information about what consumers want Adopt a consumer orientation Coordinate its efforts throughout the entire organization
Which of the following can be described as supporting services that can be defined as a "product"?
Installation, guarantees, product information, and promises of repair.
Concepts, philosophies, images, and issues are all...
Intangible ideas
These people perform many of the activities required to move products efficiently from producers to consumers or industrial buyers and are often wholesalers or retailers.
Intermediaries
Since it represents the measure of value used in an exchange, (blank) is the marketing mix element that is the basis of most market exchanges.
Price
Which four of the following make up the marketing mix?
Product, promotion, price, distribution
Due in part to the industrial revolution and the demand for manufactured goods, this orientation was prominent in the second half of the 19th century.
Production
Why is communication an important element of developing and maintaining long-term customer relationships?
Provides a way for businesses to personalize customer relationships.
Which of the following is not a typical marketing task of an organization?
Purchasing a product or service.
Digital communication has increased the ability of marketers to conduct polls on blogs and social networking sites. What are the benefits of online market research?
Quicker feedback Lower costs
Customer (blank) management systems help marketers listen to customer feedback in order to respond to their needs and wants and work toward building a long-term relationship
Relationship
Marketing (blank) helps to identify which products or services that customers need or want.
Research
Marketers must realize that developing a new product creates a chance of loss if consumers do not like it enough to buy it. This relates to which function of marketing.
Risk taking
Today some people still inaccurately equate marketing with a (blank) orientation.
Sales
Information that has already been compiled by others and published in journals and books or made available online is (blank) data.
Secondary
The process of dividing the total market into groups whose members have similar characteristics is market...
Segmentation
A (blank) is the application of human and mechanical efforts to people or objects to provide intangible benefits to customers.
Service
A good outcome of (blank) networks is the opportunity to reach new voices and gain varied perspectives on the creative process of developing new products and promotions.
Social
In the United States, people are often referred to as being part of the upper, middle, or lower class. These groupings signify (blank) classes
Social
A more specific group of consumers on whose needs and wants a company focuses its marketing efforts is referred to as a (blank) market
Target
What is the central focus of all marketing activities?
The buyer
If you open a pizza restaurant and assume that all potential customers have similar needs and wants, you are using a (blank) (blank) approach to define your target market.
Total market
The process of moving strawberries, blackberries, and raspberries from Portland Fresh and Ready Farms to the farmer's market where customers will purchase them, is a marketing activity called
Transporting
Time utility has to do with selling an item or service in a timely manner and relates to the storing function of marketing.
True
the (blank) is the part of marketing strategy that involves decisions regarding controllable variables: product, price, distribution, and promotion
marketing mix
The goal of market orientation is to
Build long-term customer relationships
Match the term to its correct description.
B2B: marketing products to customers who will use the product for resale or in the making of other products. B2C: marketing products directly to the end consumer.
Motivation is the inner drive that directs a person's (blank) towards goals.
Behavior
(Blank) segmentation involves some characteristic of the consumers' behavior toward the product.
Behavioristic
Select from the following a firm must take into consideration in order to successfully use a concentration or multisegment approach.
Consumers' needs for the product must be heterogeneous. The segments must be identifiable and divisible. The total market must be divided in a way that allows estimated sales potential, cost, and profits of the segments to be compared. At least one segment must be profitable enough to maintain the chosen strategy. The firm must be able to reach the market with its chosen strategy.
Which of the following is true about customer costs?
Customer costs can be monetary and/or non monetary.
Deodorants, shampoo, and conditioner are often marketed and packaged differently to men than women. This is an example of market segmentation using (blank) variables.
Demographic
A marketing strategy has two components: selecting a target market and (blank)
Developing an appropriate marketing mix
If flowers to your door does not feel good about its recent purchases of roses, daisies, and carnations from a new wholesaler, the (blank) will likely not continue if other options are available.
Exchange
In marketing terms, when you pay the cashier money for the items you purchase at a store, it is an example of a...
Exchange
For which function of marketing does this statement describe: For many products, especially large items, the marketer arranges credit to expedite the purchase.
Financing
Dividing a market by cities, states, or regions is an example of using (blank) segmentation
Geographic
Select from the following items that do not describe marketing accurately.
It is essentially just selling and advertising. Marketing is manipulating consumers to get them to buy products they do not want.
Rashmi used to always shop at a particular clothing store, however the last two times she shopped there, the staff were rude and didn't have much stock on hand. Consequently, Rashmi is trying out new stores to shop at. Which psychological factor is at play in this scenario.
Learning
A (blank) is a group of people that have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas
Market
Which orientation is best described as first determining what customers want and then produce it, rather than making the products first and the trying to persuade that they customers need them
Market orientation
A basic philosophy that guides all marketing activities is the (blank) concept.
Marketing
Functions of (blank) include buying, selling, transporting, and storing goods for an organization in order to accomplish objectives and generate exchanges.
Marketing
Online surveys are becoming an important part of (blank) research
Marketing
Other functional areas of the businesses-- such as operations, finance, and all areas of management--must be coordinated with (blank) decisions.
Marketing
A systematic, objective process of getting information about potential customers to guide marketing decisions is the definition of...
Marketing research
which four are common pricing objectives?
Maximizing profits and sales, boosting market share, maintaining the status quo, and survival
When a UPS store targets consumers for shipping products around the holidays, but targets businesses for everyday shipping needs, it is using a (blank) approach.
Multisegment
Which of the following accurately describe primary data?
Observed, recorded, or collected directly from respondents
Which of the following best describes the concentration segmentation approach?
One marketing strategy for a single market segment.
This psychological factor is the process by which a person selects, organizes, and interprets information received by his or her sense, as when experiencing an advertisement or touching a product to better understand it.
Perception
Match these psychological variables of buying behavior.
Perception-process by which a person selects, organizes, and interprets info. received by their senses. Motivation-inner drive that affects a person's behavior towards goals. Learning- changes in a persons behavior based on info and experience. Attitude- knowledge and positive or negative feelings about something Personality-organization of individual's distinguishing character traits, attitudes, or habits.
Although research is inconclusive, some marketers feel that the type of clothing one wears or the type of car one drives is directly related to which psychological factor?
Personality
Select the sample variables that are part of psychographic segmentation
Personality characteristics, motives, lifestyles
Distribution is sometimes referred to as (blank)
Place
Match environmental forces with proper descriptions.
Political, law, and regulatory forces: laws and regulators interpretations of laws. Social forces: the public's opinion and attitudes towards issues. Competitive and economic forces: competitive relationships. Technological forces: computers and other technological advances.
Which of the following are external influences in the marketing environment?
Political, legal, and regulatory forces. Social forces Competitive and economic forces Technological forces
Which of the following is a customer's subjective assessment of what they receive relative to costs in determining the worth of an item?
Value
In the United States, (blank) are the largest market segment.
Women
which of the following qualifies as advertising?
a paid television infomercial online ads from starbucks
what is test marketing?
a trial mini launch
paid, nonpersonal communication through various media by organizations and individuals is known as
advertising
match the purpose with the type of message it represents
advertising: messages tend to be informative, persuasive, or both and designed to have an immediate impact. publicity: messages are mainly informative and describe what a firm is doing, or other newsworthy information
a major wireless carrier designed a variety of advertisements to promote its new phone. magazine, newspaper, and television advertisements were created to attract the company's target market. this is an example of..
an advertising campaign
which of the following characterize convenience products?
bought frequently, without a lengthy search, and often for immediate consumption. Consumers spend virtually no time planning where to purchase these products and usually accept whatever brand is available
(blank) products are used directly or indirectly in the operation or manufacturing processes of business
business
assessing new product ideas by developing price estimates and sales forecasts in order to determine of the product will be profitable, takes place in the (blank) stage of the product development process
business analysis
promoting a product to distributors and retailers to get a wide distribution is called...
commercialization
which of the following are signs that a product is in the maturity stage of the product life cycle?
competition is severe, profits decline, sales peak and start to decline
products created for household or family use intended for daily living are (blank) products
consumer
match the product classification with the buying behavior associated with it,
convenience product: spend little to no time planning where to purchase these products shopping product: will shop around for these products and buying decisions are influenced by quality, style, service, and image specialty product: will go out of their way to find these products
during the (blank) stage of product life cycle, sales fall rapidly, profits continue to decline, and may even become losses as prices are cut
decline
face-to-face sales presentations to consumers that often take place in the consumer's homes is the nonstore retailing form of (blank) selling
direct
The use of nonpersonal media to communicate products and information and offer consumers the opportunity to purchase from that media is referred to as...
direct marketing
which of the following may be a measure of product quality?
easily maintained, durable, reliable
which of the following characterize the decline stage of of the product life cycle?
elimination of models or items, rapid drop in sales, disappearing profits
Rolex watches are sold by only one distributor in a region. Rolex uses a (blank) distribution strategy
exclusive
selective distribution makes a product available in as many outlets as possible
false
brands sold with no brand name at all are called (blank) brands
generic
match the steps in the product development process to the correct activity
idea development:coming up with new commercial products to pursue idea screening: reducing number of ideas to the most promising and working on those business analysis: assessing the potential profitability product development: creating a prototype test marketing: taking a product idea to consumers to test their reactions commercialization: promoting the product
Inappropriate or impractical new product ideas will be rejected during the (blank) phase of the product development process.
idea screening
match the appropriate used to brand multiple products with its corresponding marketing strategy
individual brands: a company gives each product within its product mix its own brand name family of brands: a firm's products all carry the same name or at least part of the name of the firms brand.
the process of coordinating the promotion mix elements and synchronizing promotion as an unified effort is called...
integrated marketing communications
(blank) distribution makes a product available in as many outlets as possible
intensive
list the stages of the product life cycle
introduction growth maturity decline
during the (blank) stage of of the product life cycle, marketers focus on making consumers aware of the product and benefits
introductory
the (blank) stage of the product life cycle is exemplified by low sales, limited consumer awareness, and negative profits.
introductory
which of the following questions will be answered during the business analysis stage of new product development
is the product compatible with the marketplace will the product be profitable
the presentation of important information on a package , such as ingredients and nutrition facts, is called...
labeling
a group of products that are physically similar or are intended for a similar market are referred to as a product...
line
brands that are initiated and owned by the manufacturer are called (blank) brands
manufacturer
organizations that bridge the gap between a product's manufacturer and the end user are called intermediaries or middlemen. two types of intermediary organizations are
retailers and wholesalers.
what typically happens in the growth stage in product life cycle?
sales increase rapidly and profits peak
which of the following are the signs that a product is in the maturity stage?
sales peak and decline profits decline competition is severe
products or services the consumer buys only after comparing its value, quality, price, and style from a variety of sellers are called consumer (blank) products
shopping
(blank) products require research and extensive shopping effort as consumers know what they want and are not willing to substitue
speciality
which of the following are typical objectives of promotion?
stimulate demand, to stabilize sales, and to inform, remind, and reinforce customers.
identify the sales promotion below
store displays, premiums, samples and demonstrations, coupons, contests and sweepstakes, refunds, and trade shows.
which of the following exemplify sales promotion through sampling?
supermarket taste test, car dealer test drives, scratch and sniff magazines
the process of connecting and integrating all members of the distribution system in order to satisfy customers is referred to as...
supply chain management
although personal selling has many advantages, it is one of the most costly forms of promotion
true
transportation, warehousing, and materials handling are all part of physical distribution
true
Interactive multimedia research is also known as (blank) (blank)
virtual testing