MARK 3337 Final Exam
geographic segmentation
"Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods." This is an example of
Positioning Statement
"To multitaskers who need help remembering things, Evernote is the only digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your computer, phone, tablet and the Web." This is an example of a(n)
mission statement
A ________ documents an organization's purpose- what it wants to accomplish in the larger environment
marketing channel
A ________ is a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user
product position
A ________ refers to the way a product is defined by consumers on important attributes—the place the product occupies in consumers' minds relative to competing products
ethnographic research
A company sent trained observer to watch and interact with consumers in their natural environments in order to gain deeper insights on consumer needs. This is an example of
low-cost leadership
A company that pursues ________ will react much more strongly to a competitor's cost reducing manufacturing breakthrough than to the same competitor's advertising increase
the promotion mix
A company's total marketing communications mix consists of a special blend of advertising, sales promotion, public relations, personal selling, and direct-marketing tools that the company uses to communicate customer value and build customer relationships. Which of the following terms best describes this communications mix?
substantial
A market segment that is large or profitable enough to serve is
Product research was too extensive.
A particular firm added three new products earlier this year to increase variety for customers. Two of the products failed to reach the minimal sales quota. Which of the following is LEAST likely to have been the cause of their failure?
it already contains many strong and aggressive competitors
A segment is less attractive if
gatekeeper
A(n) ________ controls the flow of information to other in the buying center
self-actualization needs
According to Maslow's hierarchy of needs, which of the following is the LEAST pressing need?
social marketing
Advertising campaigns involving issues ranging from health care, education, and environmental sustainability to human rights and personal safety can be classified under
permission-based e-mail marketing
After selecting a sweater on the Land's End Web site, Kelly was asked to fill in details for the customer database. Kelly was given a form which required her to fill in her name, date of birth, and e-mail address. Kelly then checked a box that was next to the following statement :"Yes, I would like to receive weekly promotional information from Land's End online." Which of the following practices is evident from this scenario?
cognitive dissonance
Almost all major purchases result in ________, or discomfort caused by postpurchase conflict
direct marketing
Amazon.com, eBay, and GEICO approach customers via Web sites or mobile apps. This is an example of
Remind
An advertising objective is classified by its primary purpose, which is to inform, persuade, or
maturity
Apple's iPod has been called "one of the greatest consumer electronics hits of all time." iPods have been sold in huge numbers, and Apple captures a large share of the music player market. This success has attracted many large, resourceful competitors. The iPod is in the ________ stage of the product life cycle.
customer insights
Brad works with a reputed retailer and leads a team that collects market information from a wide variety of sources ranging from marketing research studies to monitoring online conversations where consumers discuss Brad's firm or its products. Brad's team uses this information to arrive at a better understanding of consumer behavior and their buying motives. This, in turn, allows Brad's firm to successfully generate more value for consumers. Brad leads the ________ team
Products and services brought by final consumers for personal consumption
Consumer products refer to
involves adding a standard markup for profit
Cost-plus pricing
product assortment
Daizy's is a shop which carries only plus-size clothing. According to this information, Daizy's differentiates itself from its competitors based on
derived
Demand for outboard motors depends on consumers purchasing fishing boats. This is an example of ________ demand
persuasive
Encouraging customers to switch brands is most likely the objective of ________ advertising.
Inelastic
If demand hardly changes with a small change in price, the demand is
exploratory
In __________ research, the objective is to gather preliminary information that will help define problems and suggest hypotheses
Direct
In a(n) ________ channel, the same member both produces and distributes a product or service to consumers
modified rebuy
In a(n) ________ situation, the buyer wants to revise product specifications, prices, terms, or suppliers
Desire
In the AIDA model, the D stands for
idea screening
In the new-product development process, the first idea-reducing stage is
Push Strategy
John Deere does very little promoting of its lawn mowers and garden tractors to final consumers. Instead, John Deere's sales force works with Lowe's, Home Depot, independent dealers, and other channel members, who in turn sell John Deere products to final consumers. According to this information, which of the following promotion mix strategies is being used by John Deere?
reminder
Keeping the brand in a customer's mind during off-seasons is most likely a goal of ________ advertising.
growth
Kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. After the cereal begins to appear in these new markets, the company increases its promotion expenditure to check competition. Kellogg's is in the ________ stage of the product life cycle.
exclusive
Kimberly decides to alter its distribution strategy so that its jewelry is accessible to the public only through one distributor. The strategy they're considering is known as ________ distribution
selective
Kimberly's Crown sells and designs jewelry. Despite the jewelry's popularity, products are available only through a few shopping stores across the country.What distribution strategy does Kimberly's Crown use?
experimental research
Kinger Burgers came out with a new hamburger and, before including it into its main menu, released it in two different cities with two different prices. The marketers at Kinger Burgers then analyzed the different levels of purchase made at these two different places, planning to using the information to help them set a nationwide price for the new offering. This is an example of
market development
Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular LED televisions. By 2020, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ________ strategy
dividing a market into distinct groups of buys who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs
Market segmentation can be best described as the process of
accessible
Market segments that can be effectively reached and served are
maturity
Most products in the marketplace are in the ________ stage of the product life cycle
exclusive
Ocean Spray sells its air fresheners only through Ray's Retail Chain. This is an example of distribution
one of the problems associated with test marketing
P&G introduced Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This illustrates
commercialization
P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. General Foods was able to enter the ________ stage of the new-product development process before P&G could.
word-of-mouth influence
Personal communications about a product between target buyers and neighbors, friends, family members, associates, and other consumers, are known as
an indirect marketing channel
Plasticine Palace supplies its products exclusively to Arts & Crafts, a chain of stationery stores across the country. The chain then makes the plasticine available to end-consumers. This is an example of
New Products
Product improvements, product modifications, and original products can all be classified as
Everyday Low Pricing
Retailers such as Costco and Walmart charge a constant, daily low price with few or no temporary price discounts. This is an example of
straight rebuy
Sigma Inc., a software firm based in California, recorded 50 printers from the designated provider without any modifications. This is an example of
Positioning
Springfield, a convenience store, has recently begun to redesign and restock its stores to offer a more upscale environment with products such as house wines and fresh foods. This information indicates that Springfield has most likely changed its
place, price, product, promotion
The 4Ps are central to the marketing activity. What are the 4Ps?
inelastic
The Pure Drug Company produces insulin, a product with a very stable demand. Even though the price changed several times in the past two years, the demand for Pure Drug's insulin remained relatively unaffected. In this instance, the demand for insulin is representative of ________ demand.
online privacy issues
The boom in Internet marketing has created a new set of social and ethical issues. Critics worry most about
far fewer but far larger buyers
The business marketer normally deals with _________ than the consumer marketer does
copy
The main block of text in a print ad is referred to as the
competitive marketing intelligence
The marketing department of reputed firm wants to improve strategic decision making, track the actions of other players in the market, and provide early warning of opportunities and threats. Which of the following would help the firm achieve its objectives?
frequency
The number of times an average person in the target market is exposed to a message is known as the ________ of the message
Market Targeting
The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as
competitive advantage
To extent that a company can be differentiate and position itself as providing superior customer value, it gains
integrated marketing communications
Today several companies are adopting the concept of ________, which carefully combines and coordinates the company's many communication channels to deliver a clear, consistent, and compelling message about the organization and its brands
market-skimming
When a company sets a high price for a new product with the intention of reducing the price in the future, it is using the ________ pricing strategy
direct marketing
Which major promotion category makes use of catalogs, telephone marketing, kiosks, and the Internet?
undifferentiated brands
Which of the following brands most likely requires heavy advertising in order to be set apart from similar products?
habitual buying behavior
Which of the following consumer buying behavior is related to conditions of low-consumer involvement and little significant brand difference?
Internal databases can be accessed more quickly and cheaply than other information sources
Which of the following is an advantage of using an internal database?
Company Executives
Which of the following is an internal source for new-product ideas?
change customer perceptions of product value
Which of the following is an objective of persuasive advertising?
suggest new uses for a product
Which of the following is most likely an objective of informative advertising?
defining the organizational mission
Which of the following is the first step in strategic planning?
defining the problem and objectives of the study
Which of the following is the first step in the marketing research process?
when the costs of developing and introducing the product are low
Which of the following is the most likely circumstance for a company to decide to do little or no test marketing?
to test hypotheses about cause-and-effect relationships
Which of the following is the objective of causal research?
Business purchases involve more professional purchasing effort than consumer purchases
Which of the following is true about business purchases?
IT can be obtained more quickly and at a lower cost than primary data
Which of the following is true about secondary data?
Products include services, events, persons, places, organizations, ideas, or a mixture of these
Which of the following is true with regard to products?
It is a useful device for identifying growth opportunities
Which of the following is true with regard to the product/expansion grid (also called then Ansoff Grid)?
They can be used to help finance the company's questions marks and stars
Which of the following is true with regards to cash cows?
Cost-based pricing
Which of the following processes does value-based pricing reverse?
media
Which of the following terms best represents the communication channel which a company uses to move its advertising messages from sender to receiver?
downstream partners
Which of the following terms refers to the wholesalers and retailers that form a vital link between the firm and its customers?
Salespeople should participate in marketing planning sessions by sharing firsthand customer knowledge.
Which of the following would most likely improve coordination between marketing and sales?
Growth
Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits?
Product Life Cycle
Which term refers to the course that a product's sales and profits take over its lifetime?
The company can analyze customer questions and complaints to find new products that better solve consumer problems.
Why are customers often considered the most important sources of new-product ideas?
to drive online sales and services
Why are historically online shops such as Zappos.com adding catalogs to their marketing methods?
convenience products
________ are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort
Question marks
________ are low-share business units in high-growth markets that require a lot of cash to hold their share
Positioning
________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
Intensive
________ distribution is a strategy in which producers of convenience products and raw materials stock their products in as many outlets as possible.
Differentiation
________ involves actually distinguishing the firm's market offering to create superior customer value
Direct-mail marketing
________ involves sending an offer, announcement, reminder, or other item to a person at a particular address
Reach
________ is a measure of the percentage of people in the target market who are exposed to the ad campaign during a given period of time.
Lifestyle
________ is a person's pattern of living as expressed in his/her psychographics, and it includes the individual's activities, interests, and opinions
Marketing research
________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
Disintermediation
________ occurs when product or service producers cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones
Psychographic
________ segmentation divides buyers into different segments based on social class, lifestyle, or personality characteristics
Demographic
________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation
Perceptual positioning maps
________ shows consumer perceptions of a company's brands versus competing products on important buying dimensions
Capital items
_________ are industrial products
Market segmentation
_________ involves dividing a market into smaller segments of buys with distinct needs, characteristics or behaviors that might require separate marketing strategies or mixes
