LAST FOOKING MARKETING TESTTTT!:)))
Changes in technology and the explosive growth of direct and online marketing are having a profound impact on the nature and design of marketing channels. One major trend is toward ______ insofar as product or service procedures cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones.
disintermediation
Under Amour's recent expansion into the digital personal health and fitness tracking market through acquisitions of three fitness app companies is a ____ strategy
diversification
_____ pricing involves setting prices based on the expenses involved in producing, distributing, and selling a product plus a fair rate of return for a company's effort and risk
Cost-based
During the _____ stage of the product life cycle, product sales may plunge to zero or drop to a low level where they continue for many years.
Decline
Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up-and-coming professionals. Harry's most likely segments the consumer market based on ________ variables.
Demographic
Lilly's, a furniture retailer, sells low-end furniture and accent pieces that are targeted toward lower-income consumer groups. Lilly's most likely segments the consumer market based on ________ variables.
Demographic
Coolers Inc. has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product, Coolers should most likely use ________.
Descriptive research
A(n) _____ is considered a marketing intermediary.
wholesaler
PC manufacturer, Lenovo, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Lenovo most likely follows the ___.
Production Concept
Dollar General profitably appeals to families with more modest means. The retailer's approach is most likely referred to as ________.
Target Marketing
Radox, a luxury watch brand, identifies a market segment that is willing to pay premium prices for its watches, and Radox managers select an ideal selling price. Managers then determine the costs to create watches that meet the ideal selling price. The company's pricing approach is referred to as ________.
Target costing
Which of the following is an example of a shopping product?
Television
Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. The CEO stresses that the new mission statement should be market-oriented rather than product-oriented. Which of the following mission statements will best suit the company?
To give customers the complexion they dream about by providing products suited to their needs.
A _____ is made up of a company, its suppliers, distributors, and ultimately, customers who "partner" with each other to improve the performance of the entire system.
Value Delivery network
JetBlue's promise to put "You Above All" by "bringing humanity back to travel" is their ________.
Value proposition
A ______ pricing strategy for an offering begins with an assessment of customer needs and perceptions. Then a target prices is set based on customer perceptions of worth.
Value-based
A ______ consists of producers, wholesalers, and retailers acting as a unified system. The system can be dominated by any one of the interdependent members.
Vertical marketing system.
As a result of ________, a company cannot make its product illegally similar to a competitor's already established product.
patent laws
Delta, an American video game manufacturer, targets teens between the ages of 13 and 18, providing free game trials and applications. The firm's marketing approach exemplifies ________ segmentation.
Age and life-cycle
Vertigo is an electronics company. According to the BCG matrix, which of the following products of Vertigo would most likely classify as a question mark?
Blue--a cell phone that is designed for music lovers and has a very low market share in a market that is growing steadily.
BlueBear is a shoe manufacturer based in the United States. Which of the following indicates that the company is following a market development strategy?
BlueBear introduces its shoes in the Indian and South-East Asian markets.
Which of the following is an example of a convenience product?
Candy
When a manufacturer offers a ____, a customer buys a product from a manufacturer's dealer within a specified time period, and the manufacturer then sends the customer a check.
Cash Rebate
Vernon Inc. would like to set the best price for a new product. The firm conducts an experimental study by selling the new product at two different prices in two different locations keeping other factors constant to see if a lower price results in better sales. This is most likely an example of ________ research.
Causal
Which of the following is an industrial product categorized under materials and parts?
Cement
Which of the following sources of product information can marketers control completely?
Commercial
Laundry detergent, candy, magazines, and fast food are purchased frequently by customers. They are examples of _____ products.
Convenience
Port Orleans Shipping markets different services to the tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called ________ marketing.
Differentiated
Mary Kay Cosmetics and Amway sell their products through home and office sales parties, online Web sites, and social media. Both companies use a(n) _______ channel to distribute their offerings.
Direct
For over 10 years, Erudite, a publishing and educational company that produces college textbooks has been selling its books online through studysmart.com, a popular online retailer that sells textbooks published by different companies. Recently, Erudite stopped selling its books through studysmart.com and set up its own Web site to sell its books. This change in channel organization is called _____.
Disintermediation
Fred's faith in Asics, his favorite brand of running shoes, makes him consider other offerings introduced by Asics. Fred is not a risk-taker, and he tends to evaluate each new product carefully before adopting it. Fred is an opinion leader in his social networking community and best described as a(n) ________.
Early adopter
High-end luxury brands like Bentley for cars, Louis Vuitton for handbags, and Rolex for watches use ________ distribution, giving a limited number of dealers the sole right to sell products in a specified geographic territory.
Exclusive
Which of the following is an example of an unsought product?
Life insurance
Gulf Coast, a wholesale shrimp distributor, groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Gulf Coast tailors a different set of advertisements and promotions. The supplier is segmenting its market according to ________.
Geographic location
The "stop the texts. stop the wrecks." campaign co-sponsored by the Ad council and the National Highway traffic Safety Administration is an example of a marketing offering for a(n) ____.
Idea
When firms use symbols, colors, or characters to convey their personalities, they are using ________ differentiation.
Image
Erica Jenson has a limited budget to conduct a market research. Which of the following research approaches would provide Erica with the most cost-effective way to reach a large number of respondents in a short period?
Internet-based surveys
Kathy Jenkins is planning to conduct research on consumers' personal care routines. Since the questions are likely to be personal and sensitive, Kathy wants to select a contact method that will encourage respondents to answer honestly. Which of the following contact methods is most likely to serve Kathy's purpose?
Mail questionnaires
EcoBean, a chain of cafes, has introduced a Special Shopper Card that allows customers to pay in advance for coffee and snacks. This effort by EcoBean management is most likely an example of ________.
Market Penetration
The first generation Apple Ipod was introduced in 2001 and sold for $500. The following year a mini version was introduced for $250. Apple initially used a _____ strategy to price their digital music innovation.
Market-skimming
A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as a(n) ______.
Modified rebuy
Victoria's Closet, a manufacturer of bohemian-style clothing and accessories, sells its products through its online Web site, a catalogue, and specialty boutiques that target women. Which kind of channel arrangement does Victoria's closet employ to distribute its products?
Multichannel distribution system
Annie Carson, the owner of Annie's Dairy Bar, is considering opening a second location. She evaluates several potential sites by assessing traffic patterns, neighborhood conditions, and the locations of competitors. Annie is engaging in ________.
Observational research
Which of the following terms best describes the process of designing and producing a container or wrapper for a product?
Packaging
Ford Motor Company issuing a recall that requires customers to schedule appointments with car dealerships to repair faulty igniters would have the greatest impact on the ______ component of its marketing mix.
Place
_____ is the only element in the marketing mix that produces revenue.
Price
Harper Farms raises chickens. For years, it has used wooden coops for hauling its poultry to market. When the owner, Jan Harper, went to reuse some of her coops, she noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced. Which stage of business buying decision process was Harper in when she decided to replace her old coops?
Problem Recognition
Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the product lines make up Clorox's ________.
Product depth
GenX, a manufacturer of sport motorcycles, is seeking a new supplier of motorcycle headlamps and brake lights. After searching trade directories, GenX invites five different suppliers to make formal presentations about how their solutions can create greater value for GenX than competing solutions. GenX is currently in the ________ stage of the business buying process.
Proposal solicitation
Bass Pro Shops recognizes that outdoors enthusiasts are a diverse group. Likely segments include hunters, campers, and boaters. What is this segmentation method called?
Psychographic
The National Tree company offers resellers half-price reductions on artificial Christmas trees if they purchase them in July. This is an example of a ______.
Seasonal Discount
Traxx is a newly emerging shoe manufacturing company. After extensive market research, Traxx divides its market into professional athletes, "hobbyists" or amateur players, and people who wear shoes as part of their casual attire. Each category has its own needs, traits, and marketing goals. In this scenario, Traxx has engaged in market ________.
Segmentation
Hallmark's classic "When you care enough to send the very best" slogan appeals to which need category in Maslow's hierarchy?
Social
Cosmetic retailer Lush knows that doing what's right benefits both customers and the company. Their premium beauty products are made by hand from the freshest possible natural ingredients. This is an example of the ________ concept.
Societal Marketing
Susan has been redecorating her new condo for a year. She is carefully selecting every item. Susan finds an oriental rug that matches her color scheme and decor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n) _____.
Specialty Product
Which of the following statements about buying centers is true?
The buying center is not a fixed and formally identified unit within a buying organization.
Omni Healthcare's analgesic drug Cetaprin has a 40% share in the analgesics market in the country of Terrania. Its closest competitor, Febex, has a 25% share in the market, while four other analgesic brands split the remainder. Which statement indicates that Cetaprin is a cash cow according to the BCG matrix?
The demand for analgesic drugs in the Terrania market is expected to remain stable
Alice is shopping for a new car, and she has narrowed her decision to a Honda Accord and a Toyota Camry. Both sedans have similar features and prices, but Alice decides to purchase the Honda based on her intuition. Which of the following situations would most likely cause Alice to experience postpurchase dissonance?
The price of the toyota camry falls due to an increase in demand.
Which of the following is most likely a characteristic of Millennial generation?
They are more likely to engage with brands using mobile or social media.
Which of the following is an advantage of primary data?
They are more relevant than secondary data.
Hollingsworth is a retail company that is planning to release a new line of luxury personal care products. Its managers are now reviewing the sales history of similar products and conducting marketing surveys to estimate minimum and maximum sales for the product. In which of the following stages of the new product development process is the product?
business analysis
The stage in which product ideas are presented to groups of target consumers physically or symbolically is referred to as ________.
concept testing
Producers use marketing intermediaries because they ________.
create greater efficiency in making goods available to target markets
The marketing manager of Appeal Inc. has noticed a sharp decrease in sales over the last two months. The manager decides to conduct marketing research to identify potential causes for the drop in sales. Which of the following should the manager do first?
define the problem and objectives
The new product development process usually starts with
idea generation
Safari Unlimited recently conducted national research to generate ideas for a new line of fatigues geared to women. The company uncovered a number of ideas about clothing and accessory preferences as well as important benefits such as built-in sunblock and durability. The Safari Unlimited product development team will most likely use ________ next to arrive at a realistic number of products for the new fatigues line.
idea screening
Becca wants to buy a new coat. She asks her friends to recommend a store and/or a style of coat. She looks for sale advertisements for coats in newspapers and also visits nearby stores to check if she can find something in her budget. In this case, Becca is most likely in the ________ stage of the buyer decision process.
information search
Which of the following is a psychographic characteristic of a consumer?
lifestyle
The first Target store opened in 1962. Its initial strategy was to set prices low to attract a large number of buyers quickly and win a large market share. This is referred to as ________.
market-penetration pricing
Doggie World concept tested an idea for a new chew toy that would entertain dogs while simultaneously cleaning their teeth. Dog owners were pleased with the results. The next stage in developing the new product concept is ______.
marketing strategy development
When a product is in the _____ stage, profits level off or decline because of increased marketing outlays to defend the product against competition.
maturity
The practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as ________. A) niche marketing B) micromarketing C) segmented marketing D) global marketing E) undifferentiated marketing
micromarketing
A marketing intermediary would most likely help a firm by ______.
moving the firm's goods from production points to distribution centers
Fargo Inc. is a carbonated beverage manufacturer that has many manufacturing plants around the world. It is planning to shift from using thermal power to wind power for its manufacturing plants in the Netherlands to decrease dependency on nonrenewable sources of energy. This scenario depicts Fargo's concern for its ________ environment.
natural
Salon Du Jour offers special combination packages at a reduced price. Separately, a haircut is $30 and a conditioning treatment is $35. But the combo price is $50. This is referred to as ________ pricing.
product bundle
NerdHerd Electronics sells three different sizes of televisions at three different prices. In this case, the company's pricing strategy is referred to as ________ pricing.
product line
Jeff is in the process of buying a new car. He carefully analyzes the features that he wants in a car, and perceives significant differences in price, quality, and features among three of his favorite models. He rates the models on each factor and ranks them in the order of his preference. To which of the following stages of the buyer decision process will Jeff most likely proceed next?
purchase decision
Which of the following needs in Maslow's hierarchy is generally satisfied last?
self-actualization
According to the BCG matrix, products or businesses with a high market share in a high-growth market are classified as
stars
CVS Pharmacy changed its name to CVS Health, reshaping and broadening its lines of products and services to align more appropriately with its revamped "better health" mission. For example, it stopped selling tobacco products altogether. How would this be classified in a SWOT analysis?
strength
Colonial furniture has been in existence since the 1600s and continues to adorn homes today. According to the product life cycle concept, it would be described as a ____.
style
Silkskin Cosmetics is advertising its newest line of eye makeup. Made from all-natural ingredients, the products are hypoallergenic. Silkskin is selling the products in specially designed tubes that make application easier. Which of the following is a core customer value for Silkskin's line of eye makeup? A) the natural ingredients B) the Silkskin brand C) the products' revolutionary packaging D) the hypoallergenic properties of the products E) the desire for having beautiful eyes
the desire for having beautiful eyes
Fads are characterized by their ____.
unusually high sales and rapid decline.
Shampoo marketers segment buyers as light, medium, or heavy product users. This is an example of ________ segmentation.
usage rate
