Final Exam Marketing

Trade or functional discounts are offered by manufacturers to which of the following? a. channel intermediaries who perform wholesaling tasks that the manufacturer would otherwise have to perform b. consumers who earn a price reduction for buying in bulk c. intermediaries who pay their bills before they are due d. manufacturers that agree to exclusive distribution contracts e. the government market and other organizations that require bid proposals

a. channel intermediaries who perform wholesaling tasks that the manufacturer would otherwise have to perform

Consumers who are most likely to actively look for and buy products that are environmentally friendly are referred to as a. green customers b. consumed consumers c. societal consumers d. fair traders e. locavores

a. green customers

When Kenneth called Southern Security to buy a safe in which to sore important personal documents and possessions, he most likely talked to a(n) __ who performed all the activities needed to process the transaction. a. order taker b. order getter c. missionary salesperson d. new-business salesperson e. technical specialist

a. order taker

In most companies, __ is a well-defined and systematic approach to innovation. a. research and development b. diffusion c. adoption d. positioning e. augmentation

a. research and development

Questions such as "What business are we in?" and "What customers should we serve?" are typically addressed in the ___ stage. a. operational planning b. strategic planning c. marketing targeting d. functional planning e. market planning

b. strategic planning

__ is direct communication to a customer that is conducted over the telephone. a. direct order b. telemarketing c. direct-response advertising d. direct selling e. promotional selling

b. telemarketing

___ is a network of servers, all having different functions, providing an almost infinite amount of storage space. a. a social networking platform b. the cloud c. the value chain d. wikipedia e. the virtual marketplace

b. the cloud

The business analysis for a new product begins with __. a. idea generation b. problem recognition c. assessing how the new product will fit into a firm's total product mix d. perceptual mapping e. identifying the distribution channel for the product

c. assessing how the new product will fit into a firm's total product mix

Whenever a product line or a product family is extended, there is a risk of __, which occurs when sales of an existing brand decline as the firm's current customers switch to the new product. a. product line concentration b. disintermediation c. cannibalization d. brand inequity e. brand equity

c. cannibalization

In Feb 2000, the U.S. imposed a tax on imported steel in an effort to protect about 5,000 U.S. jobs. Another name for this levied tax is a(n) a. embargo b. gray tax c. tariff d. import quota e. boycott

c. tariff

Telemarketing has had the greatest impact on which of the following data collection methods? a. mail questionnaires b. online questionnaires c. mall intercepts d. telephone interviews e. face-to-face interviews

d. telephone interviews

When a beverage maker came out with a new drink and priced it at half price for a month to attract buyers, the company was using a(n) ___ technique. a. penetration pricing b. skimming price c. everyday low price d. trial pricing e. promo pricing

d. trial pricing

A customer got a great haircut at a salon and went back six weeks later to the same person to get a second haircut. This time, the customer received one of the worst haircuts of his life. The difference between the two haircuts is due to the __ characteristic of services. a. perishability b. responsiveness c. personalization d. variability e. inseparability

d. variability

__ occurs when someone in authority extracts payment under duress. a. nationalization b. an economic sanction c. bribery d. expropriation e. extortion

e. extortion

In a ___, a firm gives another firm the right to product and market its product in a specific country or region in return for royalties on goods sold. a. licensing agreement b. strategic alliance c. joint venture d. marketing mix alliance e. direct investment

a licensing agreement

The last stage in the new product development process is __. a. commercialization b. business analysis c. generation d. concept testing e. product concept development

a. commercialization

__ is the extent to which a new product is consistent with existing cultural values, customs, and practices. a. compatibility b. complexity c. relative advantage d. comarability e. tangibility

a. compatibility

To compare the relative cost-effectiveness of different media and of spots run on different vehicles in the same medium, media planners use __. a. cost per thousand (CPM) b. aided recall c. unaided recall d. gross rating points (GRPs) e. attitudinal measures

a. cost per thousand (CPM)

Scramble is a popular smartphone app that users can download and play for free. The makers of Scramble make the app profitable by selling information obtained about users as they play the game. Marketers would most likely use this information for the data mining application of __. a. customer acquisition b. customer retention c. customer loyalty d. customer abandonment e. customer analysis

a. customer acquisition

__ is a measure of the percentage of people in the target market who are exposed to the media vehicle at least once during a given time period. a. reach b. frequency c. impression d. exposure e. gross rating

a. reach

In general, companies that focus on a triple bottom line are most likely to place a priority on which of the following? a. sustainability b. the production orientation c. the selling orientation d. not-for-profit marketing e. collaborative consumption

a. sustainability

A cashier who purposely undercharges or allows a friend to walk away without paying for items would most likely be accused of which of the following? a. sweethearting b. experiential shopping c. retail borrowing d. off-price retailing e. customer profiling

a. sweethearting

Which of the following is the best example of a service? a. the medical examination Jonathan had yesterday b. the sheet music purchased by the piano player c. the software Monica purchased from a website d. the cleaning supplies purchased for the veterinarian's office e. the t-shirt you got for running a 5K

a. the medical examination Jonathan had yesterday

What type of utility does warehousing provide customers by holding onto products until consumers needs them? a. time b. possession c. production d. form e. packaging

a. time

Grayville Rock and Gravel is located in a seaport town, sells rock, gravel, and sand to local markets. It has just been awarded a contract with a company 500 miles down the coast. Management should consider switching from truck to __ transport to save money. a. water b. railroads c. pipeline d. air e. none of the above

a. water

__ means developing a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition. a, concentrated targeting b. positioning c. benefit segmentation d. mass customization e. customization

b positioning

To determine what type of information to add to its Web site in order to attract more visitors, an Internet company could look at a survey by the AOL/Ropper Starch Cyberstudy, which showed the primary activities Americans are most likely to engage in when surfing the Internet. This study is an example of ___. a. ethnological data b. a secondary data source c. a primary internal data source d. data mining e. a primary external data source

b. a secondary data source

Without prior instruction or arrangement, telemarketers telephone your home and business offering to sell you a variety of products. These telemarketers engage in what form of prospecting? a. referring b. cold calling c. networking d. direct selling e. qaulifying

b. cold calling

Once a __ is defined, the next step in positioning is for marketers to finalize the marketing mix. a. segmentation variable b. competitive advantage c. indirect competitor d. direct competitor e. concentrated target

b. competitive advantage

A channel consisting of one or more independent producers, wholesales, or retailers, each seeking to maximize its own profits with little concern for other channel members, is a(n) __. a. independent vertical marketing system b. conventional marketing system c. independent channel d. corporate vertical marketing system e. administered vertical marketing system

b. conventional marketing system

A(n) ___ provides reasons for customers to pay a premium for a firm's products and exhibit a strong brand preference. a. exchange b. differential benefit c. industrial good d. value chain e. customer lifetime value

b. differential benefit

In terms of the communication model, __ is a reaction to a message that helps the source gauge the effectiveness of the message. a. looping b. feedback c. translating d. encoding e. decoding

b. feedback

__ do not vary with the number of units produced. a. liquidity costs b. fixed costs c. variable costs d. marginal costs e. everyday costs

b. fixed costs

One year many customers' machinery wears out and needs to be replaced. The following year no customers need new machinery. This is an example of __ demand. a. inelastic b. fluctuating c. elastic d. consumer e. static

b. fluctuating

In which stage of the product life cycle will promotional expenditures be especially high in an attempt to create consumer awareness? a. product development b. introduction c. decline d. maturity e. youth

b. introduction

Fence Patrol has developed an entirely new mounting system for chain line fences. Although they are a local company, through the acquisition of a distributor they now have the ability to market their products nationwide. Fence Patrol will most likely use a __ strategy. a. market penetration b. market development c. diversification d. divesting e. product development

b. market development

The value of something we give up in order to obtain something else is referred to as a(n) __. a. transformation cost b. opportunity cost c. exchange d. variable cost e. marginal cost

b. opportunity cost

Shane pulled her car into the gas station just as the fuel gauge dropped below empty. In this example, Shane benefited from the __ utility offered by the gas station. a. creation b. place c. value d. marketing e. quality

b. place

A ___ is a firm's total product offering designed to satisfy a group of target customers. a. brand b. product line c. product mix d. positioning strategy e. marketing mix

b. product line

Which of the following is the final stop in the distribution channel in which organizations sell goods and services to consumers for their personal use? a. franchising b. retailing c. brokering d. wholesaling e. disintermediation

b. retailing

Delia's is a clothing retailer that targets teenage girls. It runs coordinated promotions for its catalogs, its websites, and its retail outlets. Delia's works to make sure its public relation activities as well as its sale promotion harmonize with its advertising in all venues. From this information, you can infer that Delia's is using __. a. viral marketing b. stealth marketing c. integrated marketing communication d. word-of-mouth marketing e. database marketing

b. stealth marketing

A severe recession is a depression, a period in which prices fall but there is little demand because few people have money to spend and many are out of work. This condition is part of ____ a. the microenvironment b. the business cycle c. the technological environment d. the legal environment e. social norms

b. the business cycle

Juana looked at her September issue of O magazine and did not see anything of interest. However, after her mother was diagnosed with bipolar disorder, Juana found the issue extremely interesting because it offered advice on how to help people who are suffering from this problem. The fact that the boring issue became quite interesting is most directly due to a change in Juana's __. a. exposure b. cultural values c. attention d. personality e. self-concept

c. attention

The phenomenon of __ includes consumers creating their own ads and buying and selling products on eBay. a. production orientation b. the triple-bottom-line c. consumer-generated value d. socially responsible marketing e. the marketing concept

c. consumer-generated value

What are the three major types of vertical marketing systems? a. corporate, contractual, and chain b. contractual, corporate, and independent c. corporate, contractual, and administered d. administered, independent, and franchised e. corporate, franchised, and task

c. corporate, contractual, and administered

Which member of the buying center typically has the most power? a. buy b. gatekeeper c. decider d. initiator e. influencer

c. decider

The success of one company in one industry may depend on another company in a different industry. This dependence creates -_. a. inelastic demand b. value-added demand c. derived demand d. inelasticity e. elasticity

c. derived demand

After marketing strategies are developed, the next step in market planning is __. a. development of marketing objectives b. strategic planning c. implementation d. situation analysis e. pricing development

c. implementation

According to an axiom in marketing, the more __ the product, the more heavily firms tend to rely on personal selling to promote it. a. popular b. available c. intangible d. impersonal e. marketable

c. intangible

___ occurs when two or more goods are necessary to create a product. a. inelastic demand b. fluctuating demand c. joint demand d. elastic demand e. economic demand

c. joint demand

When General Mills urged customers to lower their cholesterol by eating Cheerios twice a day over the course of six weeks, the aim was to increase usage among current customers. General Mills use a ___ strategy. a. market development b. product penetration c. market penetration d. diversitifcation e. product development

c. market penetration

___ is the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, client partners, and society at large a. demand satisfaction b. competitive advantage building c. marketing d. total quality management e. value chain management

c. marketing

Some cellular providers are signing deals with business partners wanting to market products based on specific phone users' locations and calling habits. These cellular providers are participating in a new trend called __. a. telemarketing b. data warehousing c. reality mining d. virtual mining e. prediction marketing

c. reality mining

Through ____, a firm tries to guarantee that its brand will appear at or near the top of lists of typical search phrases related to its business. a. cost per impression pricing b. A/B testing c. search engine optimization d. search engine analytics e. predictive analytics

c. search engine optimization

The elements of the marketing mix must match the ___. a. competitive advantage b. perceptual map c. selected segment d. indirect competition e. direct competition

c. selected segment

A __ sample is a type of probability sample in which a researcher divides the population into segments that relate to the study's topics. a. systematic b. convenience c. stratified d. quota e. simple random

c. stratified

Which of the following is true about generic brands? a. they are national brands b. they were first developed during the last period of economic prosperity in the U.S. c. they were designed to appeal to the price-conscious consumer d. they are store brands e. they are manufacturer brands

c. they were designed to appeal to the price-conscious consumer

Any direct interface between customers and a company - whether it is online, in-person, or over the phone - is called a(n) __. a. share of customer b. customer target c. touchpoint d. customization e. analytic

c. touchpoint

__ are the larger ethnic group in the U.S. a. African American b. Asian America c. Pacific Islanders d. Hispanic Americans e. American Indians

d. Hispanic Americans

___ marketing is the marketing of goods and services from one organization to another. a. distributive b. consumer c. customer d. business-to-business e. target

d. business-to-business

In one-to-one marketing, the final step is to __. a. interact with the customers and find ways to improve cost efficiency b. prioritize efficiency of interactions with customers c. differentiate among these customers in terms of both their needs and their value to the company d. customize some aspects of the products or services offered to each customer e. implement a mass customization program

d. customize some aspects of the products or services offered to each customer

Which of the following questions should marketers first answer when they are determining their research design? a. what kind of sampling method should we use? b. what type of focus group best fits our needs? c. do we need quantitative or qualitative data? d. does the information we need already exist? e. how should we collect the data we need?

d. does the information we need already exist?

A __ supplier pledges to pay producers in developing countries a price sufficient to ensure that the workers who product the goods receive a fair wage and that the manufacturers use environmentally sustainable practices when possible. a. green b. societal c. gray d. fair e. utilitarian

d. fair

Within a larger corporation, each SBU a. has its own business portfolio b. has access to equal resources c. has separate shareholders d. is a separate profit center e. is dependent upon central management for a mission statement

d. is a separate profit center

When determining a country's ___, economists look at how the country is attempting to reduce poverty, inequality, and unemployment in addition to considering the country's GDP. a. forex rate b. competitive environment c. economic infastructer d. level of economic development e. purchasing power parity

d. level of economic development

Through the use of marketing metrics, the marketing team for the charity American Harvest, a national food bank program, learned that there was a significant increase in positive mention of American Harvest in discussions on social networks. American Harvest was running on these social networks. This is an example of the use of ___. a. predictive analytics b. conversion rate c. market share d. marketing control e. churn rate

d. marketing control

When GAP, Inc. was developing the concept for its chain of Old Navy stores, the company gave employees who fit the desired Old Navy customer profile $200 a piece. They set them loose on a shopping spree, and then interviewed them about what they purchased to these products would be on the Old Navy shelves when the stores opened. Gap, Inc. utilized what format of participant sampling? a. probability sampling b. systematic sampling c. stratified sampling d. nonprobability sampling e. simple random sampling

d. nonprobability sampling

Retail stores are often classified on the breadth and depth of their merchandise assortment. The depth of the merchandise is the variety of choices for each specific product. Merchandise depth may be classified as __ or __. a. narrow, broad b. narrow, deep c. shallow, broad d. shallow, deep e. narrow, full

d. shallow, deep

Expropriation occurs when a government a. reimburses a foreign company for its assets after taking over the country b. reimburses a foreign company that has lost facilities due to natural causes c. refuses to allow its businesses to engage in exporting d. takes over a foreign operation and provides the seized operation with no reimbursement e. import more than it exports

d. takes over a foreign operation and provides the seized operation with no reimbursement

An Internet company helps other online business with handling distribution bottlenecks, including managing tariffs and exchange rates for international shipping. This company provides a(n) __. a. component service b. processed product c. MRO product d. specialized service e. MRO service

e. MRO service

Product tampering and spray-painting graffiti on buildings are both examples of a. demarketing b. exploitative consumption c. addictive consumption d. shrinkage e. anticonsumption

e. anticonsumption

A firm's internal business environment does not include its __. a. employees b. patents c. products d. technologies e. customers

e. customers

In ____, branded materials become component parts of other branded products. a. family branding b. private-label branding c. umbrella branding d. manufacturer branding e. ingredient branding

e. ingredient branding

Barry was sitting on a bench near the center of the shopping mall waiting for his wife to finish her shopping when he was approached by a woman holding a clipboard and a dress shirt. She asked if Barry has the time to answer a few questions about the shirt. After Barry examined the shirt, the woman asked him to assess the quality of the shirt and to state how much he would be willing to pay for the shirt. Barry participated in a(n) __. a. focus group b. observational study c. expert panel d. experimental interview e. mall intercept

e. mall intercept

People who are regular visitors to SyFy.com (a website maintained by a science fiction cable network) and those who are regular visitors to BHG.com (a website maintained by the producers of BHG-TV and the publishers of a woman's magazine) belong to different __. a. demographic b. ethnographic c. geodemographic d. socioeconomic e. psychographic.

e. psychographic