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What do marketers hope to gain by developing at least one dimension of value in the marketing mix that surpasses all competitors in meeting customer expectations?

A competitive advantage

Which of the following is NOT a type of sales promotion?

A customer blogging about a product

Idea Development Idea Screening Business Analysis Product Development Test Marketing Commercialization

Coming up wit new commercial products to pursue. Reducing the number of ideas to the most promising and working on those. Assessing the potential profitability of the product. Creating a prototype. Taking a product idea to consumers to test their reactions. Promoting a product to distributors, retailers, and consumers to gain wide interest and distribution in the product.

Why are distribution decisions considered one of the least flexible marketing mix decisions?

Distribution decisions often commit resources. Distribution decisions often establish contractual relationships that are difficult to change.

Which three (3) are used as a measure of product quality?

Durable Easily Maintained Reliable

Place the steps of product development in the correct order. (NOTE: The first step in the process should be at the top of your list, the last step should be at the bottom of your list)

Idea development New idea screening Business analysis Product development Test marketing Commercialization

List the stages of the product life cycle in sequence from beginning to end. (Note: The first stage should be the top item on your list)

Introduction Growth Maturity Decline

Which of the following are common pricing objectives?

Maintaining the status quo. Boosting market share. Maximizing profits and sales. Survival.

Which of the following are characteristics of advertising? (Select all that apply)

Non-personal communication Uses various media Transmitted through a mass medium

The promotion mix consists of ______. (select all that apply)

Personal selling Publicity Advertising Sales promotions

Select all of the true statements about retailers. (Select all that apply)

Retailers create utility by bringing together products from competing producers. Retailing involves selling products to end users rather than for use in producing other products. Supermarkets and departments stores are examples of retailers.

Identify the sales promotions in the list below. (Select all that apply)

Samples and demonstrations Coupons Store displays

Which of the following exemplify sales promotion through sampling? (Select all that apply)

Scratch and sniff magazine inserts Supermarket taste test Car dealer test drives

Which of the following are typical objectives of promotion? (Select all that apply)

To inform, remind, and reinforce customers To stabilize sales To stimulate demand

Which two qualify as advertising?

a paid television informercial online ads from starbucks about its new product

Paid, non-personal communication through various media by organizations and individuals who are in some way identified in the message is known as .

advertising

_______ ______ involves designing a series of advertisements and placing them in various media to reach a particular target audience.

advertising campaign

Integrated marketing communication (IMC) combines ______ into one comprehensive, unified promotional strategy.

all the promotional tools

The supply chain includes ______.

all who are involved in moving products from the producer to the ultimate consumer

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

A name, symbol, or design that identifies the goods or services of one seller in comparison to other sellers is a ______.

brand

_____ is the process of naming and identifying products.

branding

Assessing new-product ideas by developing cost estimates and sales forecasts in order to determine if the product will be profitable, takes place in the _____ stage of the new-product development process.

business analysis

Products created for household or family use and intended for daily living are called ______ products.

consumer

Products created for household or family use intended for daily living are called ______ products.

consumer

Face-to-face sales presentations to consumers that often take place in the consumer's home is the nonstore retailing form known as ______ 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

Janet works part-time for Pampered Chef. Her selling technique is to hold "parties" in people's homes where she cooks food and demonstrates the kitchen products she has for sale. This is an example of ____.

direct selling

While Duluth Trading operates some retail locations, it specializes in selling its products through catalogs. In doing so, Duluth Trading is engaged in _______ marketing.

directing

Decisions regarding ____ are among the least flexible marketing mix decisions.

distribution

Decisions regarding ______ are among the least flexible marketing mix decisions.

distribution

True or false: Price is defined as the value placed on an object by the buyer.

false

Products, such as butter, aspirin, or dog food, sold in plain simple packaging without a brand name are called ______.

generic brands

Inappropriate or impractical new product ideas will be rejected during the _____ phase

idea screening

When the marketing manager looks at the organization's resources and objectives to assess the firm's ability to produce and market a product, the company is in the _____ stage of new product development.

idea screening

The process of coordinating the promotion mix elements and synchronizing promotion as a unified effort is called _______.

integrated marketing communication

An ______ distribution strategy is used for convenience products because the product must be made available at every location where a consumer might desire to purchase it.

intensive

_____ distribution makes a product available in as many outlets as possible.

intensive

What stage of the product life cycle is a product likely in if consumer awareness is limited and profits are negative?

introduction

The _____ stage of the product life cycle is exemplified by low sales, limited consumer awareness, and negative profits.

introductory

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

_______ is the planning and coordination of inbound and outbound as well as third-party services.

logistics

Brands that are initiated and owned by the manufacturer, such as Xerox or SONY, are called _____ brands.

manufacturer

The group of organizations that move products from the producer to consumers is a ______.

marketing channel

The _____ is the part of marketing strategy that involves decisions regarding controllable variables: product, price, distribution, and promotion.

marketing mix

The _______ is the external container that holds and describes the product, and influences consumers' attitudes and buying decisions.

packaging

_____ is the most flexible of the promotional methods because it gives marketers the greatest opportunity to communicate specific information that might answer an objection.

personal selling

During the business analysis stage of new product development, products are analyzed for their compatibility in the marketplace and their ______.

potential profitability

The value placed on an object exchanged between buyer and seller is its

price

Game Masters has just released the long-awaited, new platform of its most popular gaming console. Since the company wants to recoup development costs, and there will be little competition at first, Game Masters is setting the price rather high. Game Masters is using a ______ pricing strategy.

price skimming

When a firm prices a new product very high to make optimum profit while there is little competition, it is said to be using ______.

price skimming strategy

Four common _______ objectives are: maximizing profits and sales, boosting market share, maintaining the status quo, and survival.

pricing

The Great Value brand is found only at Walmart and is often less expensive than other brands carried by the store. Great Value is an example of a ______.

private distributor brand

Brands that do not carry the name of the manufacturer but carry a distributor or retailer name are called ______.

private distributor brands

Goods, services and ideas all fall under the _______ element of the marketing mix.

product

The ______ variable of the marketing mix is often the most visible and therefore of critical importance.

product

All of the following information is typically presented on a product's label EXCEPT ______.

product classification

A group of closely related products that are treated as a unit because they use a similar marketing strategy are referred to as a ______.

product line

The objectives _______ of are to stimulate demand; to stabilize sales; and to inform, remind, and reinforce customers.

promotion

Advertising, personal selling, publicity, and sales promotion are collectively known as the _____.

promotion mix

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

Any information about an individual, a product, or an organization that is distributed to the public through the media and that's not paid for or controlled by the seller is known as .

publicicty

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 _______ strategy.

push

Brandon needed to get a new tractor for his landscaping business. He needed to make sure that the tractor would perform well for a long time, was easy to maintain, and was made with durable parts. Brandon is assessing the product's ______.

quality

Macy's and Kohl's are considered to be ______ because they buy products from manufacturers or other intermediaries and sell them to consumers for home and household use.

retailers

The promotional tool that stimulates consumer purchasing by adding value or other incentives for buyers is known as ______.

sales promotion

Sometimes marketers place representatives at a supermarket to hand out portions of a product for customers to taste. What promotional tool are they using?

sampling

If a push strategy is successful, then consumers are more likely to find out about a new product after ______.

seeing it in stores

Products or services the consumer buys only after comparing value, quality, price, and style from a variety of sellers are called consumer ___________ products

shopping

_______ _________ management involves long-term partnerships among marketing channel members working together to reduce costs, waste, and unnecessary movement in the entire marketing channel to satisfy customers.

supply chain

Select the three types of utility created by retailers.

time utility ownership utility place utility

True or false: Although personal selling has many advantages it is one of the most costly forms of promotion.

true

True or false: Product packaging attributes can influence consumer buying decisions.

true

True or false: Promotional positioning is the natural result of market segmentation.

true

True or false: Transportation, warehousing, and materials handling are all part of physical distribution.

true

Publicity differs from advertising in that it is _____.

unpaid

A lumber yard that buys plywood from a producer and sells it to a home improvement retail store is an example of a(n) _____.

wholesaler

_____ are intermediaries who buy from producers and sell to retailers.

wholesalers

Organizations that bridge the gap between a product's manufacturer and the end user are called intermediaries or middle men. Two types of intermediary organizations are ______. (select two)

wholesalers retailers