Exam 2
Which of the following statements about major retail trends is NOT true?
The green movement has not quite taken hold.
Which of the following statements is correct regarding marketing communications today?
Advertisers are now able to engage smaller customer segments with more personalized interactive content.
a new product may fail for many reasons. Which of the following is not one of them?
rapid market acceptance
All products have a life cycle. The sales of typical product follow __________________, which is made up of five stages.
an S-shaped curve
Companies have to think when considering price changes. They must consider which of the following?
Buyer and competitor reactions
Marketers must consider external considerations in establishing pricing. Which of the following represents those external considerations?
The nature of the market and demand and other environmental factors.
Omni-channel retailing goes beyond just helping in-store customers as they cross-shop on mobile devices and requires______________.
carefully integrating the entire range of available shopping channels
which of the following correctly describes the classifications into which products and services fail?
consumer products and industrial products
Marketers must consider potential product issues related to social responsibility. Of the following, which is NOT one of the product issues associated with social responsibility?
product differentiation and positioning.
Which of the following statements regarding marketing logistics is NOT TRUE?
Companies are placing less emphasis on logistics and more on constraining costs.
which of the following is the correct definition of a product?
a product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need
4 sales force structures that companies use in sales force design are___________.
territorial, product, customer, and complex.
A company's pricing strategy is affected by the internal factors such as ________________.
overall marketing strategy, objectives, marketing mix, and other organizational considerations.
Which of the following has changed customers' notions of convenience, speed, price, product information, service and brand interactions?
The digital age
The only reason for a wholesaler to exist is to _________________ by increasing the efficiency and effectiveness of the entire marketing channel.
add value
which of the following terms correctly describes the positive differential effect that knowing the brand name has on customer response to the product or the service?
brand equity
When designing marketing channels, companies must determine the number of channel members to use at each level. The three strategies that are available to do this are ____________ distribution.
intrusive, exclusive and selective
Which of the following statements about personal selling is correct?
many customers are unable to distinguish the salesperson from the company
Intermediaries are used by most producers to bring products to market. These intermediaries are known as __________________.
marketing channels
which stage of the product life cycle normally lasts longer than the previous stages and poses strong challenges to marketing management?
maturity
According to the text, what is perhaps the toughest public policy issue now confronting the direct marketing industry?
Invasion of privacy
Marketing channels perform many key functions. Which of the following is NOT one of those key functions?
Manufacturing
which of the following statements regarding traditional direct marketing forms is correct?
Marketers use both outbound and inbound telemarketing
Which of the following statements is true regarding the promotion mix?
The entire marketing mix must be coordinated for greatest impact.
According to the text what is one of the biggest advantages of social media?
Engagement and social sharing capabilities
Which of the following pricing strategies would a company use to attract a large number of buyers quickly and win a large market share?
Market-penetration pricing
Which one of the following statements about the omni-channel buyer is NOT correct?
Omni-channel buyers do not need the bricks-and-mortar environment in which to shop
when marketers create services marketing strategy, they understand they must execute on external marketing but also develop
internal strategies to motivate employees and interactive marketing to create service delivery skills among service providers
Personal selling can be very effective in complex selling situations because it involves________ interactions and engagement between salespeople and individual customers.
interpersonal
Which of the following identifies the 6 major sales force management steps in the correct order?
Designing sales force strategy and structure recruiting and selecting salespeople, training salespeople, compensating salespeople, supervising and motivating salespeople, and evaluating salespeople.
Which of the following is a drawback to social selling?
Some things cannot be presented over the internet.
Marketers use 3 major pricing strategies
customer value-based pricing, cost-based pricing and competition-based pricing.
Companies use_________ to build good relations with consumers, investors, the media, and their communities.
public relations.
Marketers now have access to fragmented media and promotion mixes to reach diverse audiences. To prevent creating a communications hodgepodge, what must marketers do?
Adopt the concept of integrated marketing communications
Which of the following correctly describes omni-channel retailing?
Creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.
When Microsoft or Apple sells software as a package, it is engaging in what type of pricing?
Product bundle pricing
Which of the following is a benefit of direct and digital marketing for buyers?
Sense of brand engagement and community
Attracting and holding customers presents great challenges and decision points for retailers. Of the following, which is NOT one of the areas in which they face major decisions?
Social media and visibility decisions
How do companies apply pricing strategies to accommodate differences in customer segments and situations
They apply a variety of price adjustment strategies.
Which of the following is TRUE regarding new types of channel organizations?
They provide stronger leadership and improved performance
_______________ are the main forms of direct and digital marketing.
Traditional direct marketing tools and new digital marketing tools
Which of the following is correct regarding most firms' direct marketing efforts?
Traditional tools are still heavily used and very important.
_______________ is the digital version of the word-of-mouth marketing and the type of marketing in which marketers usually have little control over where messages end up.
Viral marketing
________________ are the two ways firms can obtain new products
acquisitions and new product development
Price ceilings are set by customer perception. Which of the following sets the floor for the price that a company charges?
costs
In general sales promotion campaigns should_____________.
be customer relationship building.
The three major groups of wholesalers are ________.
merchant wholesalers, brokers and agents, and manufacturers' and retailers' branches and offices
Marketers now have access to fragmented media and promotion mixes to reach diverse audiences. To prevent creating a communications hodgepodge, what must marketers do?
Adopt the concept of integrated marketing communications.
____________ are the five promotion mix tools used by marketers to communicate customer value.
Advertising, public relations, personal selling, sales promotion, and direct and digital marketing
___________ are the five promotion mix tools used by marketers to communicate customer value.
Advertising, public relations, personal selling, sales promotion, and direct and digital marketing.
Which of the following sets of characteristics correctly classifies retailers
Amount of service offered, breadth and depth of product lines, relative prices they charge, and how they are organized.
What are 4 steps to designing marketing channels, in the correct order?
Analyzing consumer needs, setting channel objectives, identifying major channel alternatives, and evaluating the alternatives.
which of the following statements regarding the marketing of international products and services is correct?
Because markets and consumers around the world differ widely, companies must usually adapt their product offerings in different world markets.
when a company builds a brand it needs to make important decisions regarding the brand. Of the following which is not one of those decisions?
Brand licensing opportunities
When companies treat customers fairly and make certain they understand pricing and pricing terms this leads to___________________.
Building strong and lasting customer relationships
at which step does a company perform a review of the sales, costs, and profit projections for a new product to determine whether the new product is likely to satisfy the objectives?
Business analysis
A company seta a high price on a new product it introduces to maximize revenue from various market segments. Which new product pricing strategy it the company using?
Market-skimming pricing
Most companies today see their intermediaries as first-line customers and focus on__________ to forge long-term relationships with channel members.
Partner relationship management
Of the following, which is NOT one of the product-mix pricing situations?
Penetration pricing
Of product and services assortment, price, promotion, and place. which plays one of the most important roles in aligning target markets and positioning?
Place
At which stage in the selling process does a sales person attempt to learn as much as possible about the organization (what it needs, who is involved in the buying) and its buyers (their characteristics and buying styles)?
Preapproach
Of the following, which is core element of out free-market economy?
Price competition
which of the following statements is TRUE regarding the selection of qualified channel members?
Producers vary in their ability to attract qualified marketing intermediaries
What are the 4 important decisions made when developing an advertising program? List them in order.
Setting objectives, setting the budget, developing strategy, and evaluating effectiveness.
What are the four important decisions made when developing an advertising program? List them in order.
Setting objectives, setting the budget, developing strategy, and evaluating effectiveness.
___________ is the use of online , mobile, and social media to engage customers, build stronger customer relationships, and augment sales performance.
Social selling
International marketers and advertisers face challenges not encountered domestically. The most basic issue concerns_____________________.
The amounts of adaptation required for the unique characteristics of various country markets.
Which of the following statements is true regarding the promotion mix?
The entire marketing mix must be coordinated for greatest impact
__________ permits companies to tailor offers and content to needs and interests of carefully defined segments, which in turn helps develop long-lasting customer relationships as well as resulting in immediate responses.
direct marketing
Which form of direct and digital marketing do companies use to engage customers anywhere, anytime, during the buying and relationship-building processes?
mobile marketing
the totality of a company's product lines and items offered to customers is known as its_____
product mix
_______________ are promotional tools that can be used to attract consumers
rebates, coupons, price packs, and samples.
The trend of ___________ has resulted in different types of retailers now selling the same products at the same prices to the same consumers.
retail convergence
services are characterized by four key aspects:_________
services are intangible, inseparable, variable and perishable
International marketers and advertisers face challenges not encountered domestically. The most basic issue concerns___________.
the amount of adaptation required for the unique characteristics of various country markets.
The four major functions or marketing logistics are ___________________.
warehousing, inventory management, transportation, and logistics information management.
Closing sale with a particular customer is a short-term_______________ orientation, but the selling process must also take a ___________ orientation and look at the long term.
transactional; relationship.
Which of the following statements about public relations is correct?
The lines between advertising and public relations are becoming more blurred.
New product development consists of eight sequential steps. Which step reduces the number of ideas based on the company's criteria?
idea screening
marketers must make important decisions when developing individual products and services. which or the following correctly identifies those important decisions?
product attributes, branding, packaging, labeling, and product support services
Companies use __________ to build good relations with consumers, investors, the media and their communities.
public relations.