Marketing 101
The product development stage requires______>
a huge jump in investment
The ________ of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way.
consistency
What are the two dimensions of product quality?
consistency and level
What sets the ceiling for product prices?
consumer's perception of the product's value
________ are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
convenience products
Which of the following is true of value-based pricing?
The targeted value and price drive decisions about what costs can be incurred and the resulting product design
Acquisition involves the purchase of a whole company, a patent, or a license to produce someone else's product
True
________ refers to a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.
Undifferentiated Marketing
Which of the following is an example of a convenience product?
fast food
Herbie Inc., a firm manufacturing sandwich makers, has fixed costs of $250,000, variable costs of $20 per unit of output, and expected unit sales of 50,000 units. What is the unit cost of a sandwich maker manufactured by Herbie?
$25 Total costs divided by total units (250k + (20*50k)) / 50k 25
Samsung Mobile plans to launch a new phone with a unit cost of $270 and wants to earn a 10 percent markup on its sales. Samsung's markup price is ________.
$300
In 2011, the fixed costs of a company were $500,000, and its variable costs equaled $150,000. In 2010, the company made an annual profit of $200,000. It has been predicted that, despite a steady growth, the company's variable costs will likely equal $300,000 by 2013. The total costs of the company in 2011 were ________.
650,000
As production moves up, the average cost per unit decreases because _________.
Fixed costs are spread over more units
Which of the following statements about break-even analysis is true?
It is calculated using variable costs, the unit price, and fixed cost
A ________ consists of a set of buyers who share common needs or characteristics that the company decides to serve.
Target Market
Which of the following is the reason a company may choose not to focus on the largest, fastest-growing segments?
The Smaller segments may be profitable to the firm
Why are customers often considered the most important sources of new product ideas?
The company can analyze customer questions and complaints to find new products that better solve consumer problems
________ involves setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for effort and risk.
cost based pricing
Producers of strong brands sometimes sell to dealers only on the condition that dealers take some or all of the rest of a product line. This practice is known as ________.
full-line forcing
At Neiman Marcus, a first-class department store, customers shop for high-end products and they are assisted in every phase of the shopping process. Neiman Marcus is a ________.
full-service retailer
Which of the following statements is most likely true of public relations?
have same impact on public awareness as advertising at much lower cost
Department stores such as Kohl's and JCPenney's practice high-low pricing by ________.
having frequent sale days for store credit-card holders
Which of the following companies uses a direct marketing channel?
holly wreaths a store that sells Christmas ornaments to customers via its online click-to-order catalogs
Managers at the Imperial Hotel-Chicago complained that the chain's overall image was hurt because Imperial Hotel-Dallas was overcharging guests and providing poor service. The Imperial Hotel was experiencing ________ conflict.
horizontal
The management of two Panizza restaurants has an ongoing disagreement over the discount rate given to students from the local high school. This is an example of ________ conflict.
horizontal
When McDonald's offers its products inside of a Walmart store, it is using a(n) ________.
horizontal marketing system
While developing an effective integrated communication, once the target audience has been defined, marketers must do all these steps EXCEPT ________.
identify potential distractions
Which of the following is most likely gained by stores that cluster together?
increased customer pulling power
A marketing channel that consists of one or more intermediaries is known as a(n) ________ marketing channel.
indirect
Describing available services and support is most likely a goal of ________ advertising.
informative
When P&G developed the Mr. Clean Magic Eraser, the company needed to explain how the product cleans grime from walls without removing paint. What type of campaign was most likely used by P&G for the Mr. Clean Magic Eraser?
informative advertising
A(n) ________ is a set of symbols that the sender transmits.
message
A charitable trust's appeal which states, "While you are trying to figure out what to get the man who has everything, don't forget the man who has nothing" is an example of a(n) ________ appeal.
moral
Movie Giants offers DVD rentals through its Web site. It also offers DVD rentals via Star City stores. This is an example of a(n)________ distribution system.
multichannel
Apple used an album by the band U2 to promote the Apple Watch announcement. Which of the following message execution styles is illustrated in this example?
musical
A consumer is reading a magazine with an advertisement, but due to a loud sound he is distracted from reading the advertisement and is not able to grasp its key points. In the context of the communication process, this unplanned static or distortion is called ________.
noise
Which of the following companies uses captive product pricing?
photo genie, which sells inexpensive cameras that run only on their own expensive batteries
The first step in creating effective advertising messages is ________.
planning a message strategy
Which of the following is most likely a fixed cost?
property taxes the rent for a factory property insurance premiums
________ distribution involves the use of more than one but fewer than all of the intermediaries who are willing to carry a company's products.
selective
The term supply chain is considered limited because it ________.
suggests that planning begins with raw materials and factory capacity
The term demand chain is considered limited because it ________.
takes a step-by-step linear view of purchase-production-consumption activities
Conflict in the channel can be healthy because ________.
the channel could become passive and non-innovative
Which of the following is true of changes in the organization of distribution channels?
the growth of the internet threatens many brick-and-mortar companies with disintermediation
Which of the following is true of product line pricing?
the price steps take cost differences between products in the line into account
Market-Penetration pricing policy should LEAST likely be used for a new product when ________.
the product's quality and image support a high price
Integrated marketing communications require a company's mass-market advertisements, Web site, e-mail, and personal selling communications to all ________.
the same massage look and feel
For a market penetration-price strategy to succeed, which of the following is LEAST likely to be true?
the strategy can be changed quickly, to a higher-priced position, with no negative impact
Which of the following is most likely true of marketing channel decisions?
they often involve long-term commitments to other firms
________ show(s) consumer perceptions of a company's brands versus competing products on important buying dimensions.
Perceptual Positioning Maps
Business marketers use geographic, demographic, benefit, user status, usage rate, and loyalty status to segment their markets. They also use ________, customer operating characteristics, purchasing approaches, and situational factors.
Personal Characteristics
A ________ consists of all the product lines and items that a particular seller offers for sale.
product mix
________ refers to the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.
product quality
Consumer products refer to ________.
products and services bought by final consumers for personal consumption
Which of the following statements characterizes the introduction stage of the PLC?
profits are nonexistent
Which of the following best characterizes the decline stage of product development?
sales and profit decline
Which of the following is true with regard to services
services are a form of product that consists of activities, benefits, or satisfactions offered for sale
Marketing mix planning begins with ________.
-building an offering that brings value to target customers -The offering becomes the basis on which the company builds profitable customer relationships
Which of the following is an example of a pure tangible good?
A bag of potato chips
Which of the following is a goods-and-services combination?
A milkshake at an ice cream store
Which of the following is true about behavioral segmentation on the basis of the loyalty variable?
BY looking at customers who are shifting away from its brand, a company can learn about its marketing weaknesses and take actions to correct them
Harvey's Bookstore is a popular online bookstore that has differentiated itself through smooth-functioning delivery networks. This is an example of ________ differentiation.
Channel
Orion Inc. markets luxury watches. It targets the wealthy global elite segment, regardless of their geographic location. Orion most likely uses ________ segmentation.
Cross-Market
________ segments are conceptually distinguishable and respond differently to different marketing mix elements and programs.
Differentiable
_______ marketing is more suited for products that vary in design.
Differentiated
A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each is known as ________.
Differentiated Marketing
Double Drill Inc. segments its foreign markets by per capita income. This firm segments the international markets based on ________.
Economic Factors
Price is the most inflexible of the marketing mix elements.
False
Market offering includes everything from pure tangible goods to pure services, as well as combinations of goods and services. Which of the following is NOT a product or service?
Free Concert
Which of the following is NOT a benefit of using multivariable segmentation systems?
Help companies more accurately price their products to appeal to key customer segments
Which of the following is NOT likely to be a question asked in the new product screening process?
How many items will the company sell in the first two years?
________ is the process by which firms interact one-to-one with masses of customers to design products and services tailor-made to individual needs.
Mass Customization
When the size, purchasing power, and profile of a market segment can be calculated, the market is ________.
Measurable
________ positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs.
More for more
Which of the following marketing strategies is most suitable for smaller firms with limited resources?
Niche Marketing
Product planners need to consider products and services on three levels. At the third level, product planners must build ________.
an augmented product
A ________ is a name, term, sign, symbol, design, or a combination of these, that identifies the maker or seller of a product or service.
brand
Which stage of new product development requires management to estimate minimum and maximum sales to assess the range of risk in launching a new product?
business analysis
________ are industrial products that aid in the buyer's production or operations, including installations and accessory equipment.
capital items
Introducing a new product into the market is called ________.
commercialization
Which of the following is true about the concentrated marketing strategy?
companies that rely on a few segments for all of their business will suffer if a segment turns sour
Which of the following is a potential drawback of multibranding?
each brand might obtain only a small market share, and none may be very profitable
Retailers such as Costco and Walmart charge a constant, daily low price with few or no temporary price discounts. This is an example of ________ pricing.
everyday low
Which of the following involves introducing less-expensive versions of established, brand name products?
good-value pricing
Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits?
growth
John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new product development process does this exemplify?
idea generation
New product development starts with ______.
idea generation
JoAnn Fabrics Inc. has created a new combination of colors and fabric types. The firm wants to know how consumers will perceive the new product. The firm is concerned with the product ________.
image
Which of the following is a common reason for new product failure?
incorrect estimation of the market size
Which of the following is an internal source for new product ideas?
intrapreneurially programs
A product's ________ identifies the product or brand, describes several things about the product, and promotes the brand.
label
________ involves designing and producing the container or wrapper for a product.
label
Product mix ________ refers to the total number of items a company carries within its product lines.
length
The major product line decision involves product ________, the number of items in the product line.l
line length
Which of the following is NOT a category of consumer products
luxury
Which of the following is a significant challenge by the product life cycle?
new product development
________ are industrial products
office supplies
Lubricants, coal, paper, and pencils are examples of ________.
operating supplies
________ marketing consists of activities undertaken to create, maintain, or change attitudes toward particular people. People ranging from presidents, entertainers, and sports figures to professionals such as doctors, lawyers, and architects use it to build their reputations.
person
Tourism Australia's global marketing campaign, "There's nothing like Australia" is an example of ________ marketing.
place
________ marketing involves activities undertaken to create, maintain, or change attitudes toward particular cities, states, or regions.
place
________ are the major marketing factors in the sale of most manufactured materials and parts.
price and service
Which of the following is true with regard to price?
price is the sum of all the values that customers give up to gain the benefits of having a product
Underpriced products _____.
produce less revenue that they would if they were priced at the level of perceived value
When Heinz introduced EZ Squirt packaging and new colors such as Blastin' Green and Awesome Orange to revitalize consumer buying, the company was modifying the ________.
product
Developing a product or service involves defining the benefits that it will offer. These benefits are communicated and delivered by ________.
product attributes
An attractive product idea must be developed into a ________.
product concept
A ________ is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges.
product line
_______ involves adding more items within the present range of the product line.
product line filling
Erica wants to replace her old washing machine with a new one. In order to get the maximum value for her money, she plans to spend substantial time and effort in gathering information and making product comparisons before making the actual purchase. In this instance, Erica is planning to buy a(n) ________ product.
shopping
________ are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.
shopping products
A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania, from locally grown wood, is an example of a ________.
speciality product
Yummy Peanut Butter created a new coconut-flavored peanut butter that it tested in a small number of representative cities. The company plans to use the results to forecast national sales and profits. Which of the following did the firm use?
standard test markets
The strongest brands are positioned on ________.
strong beliefs and values
What is included in the first part of a marketing strategy statement?
target market description
Acquisition refers to ______
the buying of a whole company, a patent, or a license to produce someone else's product
Product planners need to consider products and services on three levels. At the second level, product planners must ________.
turn the core benefit into an actual product
________ are consumer products that the consumer either does not know about or knows about but does not normally think about buying.
unsought products
A pharmaceutical company in Utah recently released a new and expensive anti-ulcer drug in the market. The company justifies the high price of the drug by claiming that it is highly effective for treating all kinds of ulcers. The company also claims that the new drug will help bring down the need for invasive surgeries, an additional benefit for patients. Which of the following pricing strategies is the pharmaceutical company most likely using in this instance?
value-based pricing
Product mix ________ refers to the number of different product lines the company carries.
width
Which of the following is a media measure?
click-through rate
Which of the following is a major type of vertical marketing system?
corporate
________ are two or more outlets that are commonly owned and controlled.
corporate chains
A manufacturer has fixed costs of $100,000, a variable cost of $10 per unit of output, and break-even volume of 50,000 units. What should the manufacturer's unit cost be in order to break even?
Breakeven Sale Price Equation Total Fixed Cost/ #of units) + Variable cost $12
If demand changes greatly with a small change in price, the demand is ________.
Elastic
Anchor Tractors focuses on selling its farm equipment in North America and Europe. It has not yet considered expanding into the Middle East. Which factor is likely most important in this decision regarding expansion
Political
"To busy multitaskers who need help remembering things, Evernote is a 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) ________.
Positioning Statement
Through ________ differentiation, brands can be differentiated on features, performance, or style and design.
Product
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.
Product Position
What sets the floor for product prices
Product costs
Which of the following exemplifies a service?
Retail
A market segment that is large enough or profitable enough to serve is ________.
Substantial
Which of the following is an external source for ideas?
Suppliers
In the context of behavioral segmentation, markets segmented by ________ can be categorized into light, medium, and heavy product users.
Usage Rate
________ refers to how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments.
Value Proposition
As product workers debone better organized and more familiar with the equipment, the average cost per unit tends to decrease with the _____.
accumulated production experience
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called ________ and includes broadcast, mobile, print, and online forms.a
advertising
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called ________.
advertising
Producing a product or service and making it available to buyers requires building relationships not only with customers but also with key suppliers and resellers in the company's ________.s
apply chains and the value delivery network
Comparative advertising is also known as ________ advertising.
attack
Trade-in allowances are most commonly used in the ________ industry.
automobile
Which of the following is one of the five major promotion tools?
direct marketing
A manufacturer of a variety of technological devices asked its marketing department to develop inexpensive methods of building and maintaining brand awareness and excitement. The marketing department then recruited consumers who were early adopters of technological devices to spread the word about the company's new products. This is an example of ________.
buzz marketing
Leicestershire Renovations has a history of problems with customers who do not pay their bills on time. Leicestershire Renovations wants to improve its cash situation, reduce bad debts, and reduce credit-collection costs. Which of the following forms of pricing would most likely help the firm achieve its goal?
cash discounts
Which of the following is NOT a type of off-price retailer?
category killer
Which of the following is an objective of persuasive advertising?
change customer perceptions of product value
A ________ is a layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer.
channel level
Which of the following is true with regard to value-added pricing?
companies practicing value-added pricing differentiate their offers by attaching value-added features to offerings that, in turn, justify higher prices
If a consumer purchases a new flat-screen "smart" television which can connect to services like Netflix and Pandora, what is the core customer value involved?
connection to entertainment and information
Neutron Inc. is conducting a business analysis to determine which of the many newly developed apps should be released. To estimate sales, the company must ________.
consider the sales history of similar products
At its most basic form, a marketing channel consists of the producer and the ________.
consumer
Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is _________, which addresses the question, "what is the buyer really buying?"
core customer value
A ________ VMS integrates successive stages of production and distribution under single ownership.
corporate
The product life cycle presents challenges. Which of the following is LEAST likely to require a company to adapt its marketing strategies?
decreased manufacturing costs
Price discrimination may be used to match competition as long as the strategy is temporary, localized, and ________.
defensive
Until retailers ________ their markets, they cannot make consistent decisions about product assortment, services, pricing, or advertising.
define; profile
Which type of store carries a wide variety of product lines and has been squeezed in recent years between more focused and flexible specialty stores on the one hand and more efficient, lower-priced discounters on the other?
department stores
Which of the following is a major step in selecting advertising media?
determining reach, frequency, and impact
Which major promotion category uses catalogs, direct mail, e-mail, mobile marketing and social media?
direct and digital marketing
A(n) ________ is a straight reduction in price on purchases during a stated period of time or of larger quantities.
discount
Which of the following is a price adjustment strategy?
discount and allowance pricing
________ are complex behavioral systems in which people and companies interact to accomplish individual, company, and channel goals.
distribution channels
Which of the following terms refers to the wholesalers and retailers that form a vital link between the firm and its customers?
downstream partners
An appeal that attempts to stir up either negative or positive sentiments that can motivate purchase is called a(n) ________ appeal.
emotional
________ refers to the process of putting thought into symbolic form.e
encoding
When the seller allows only certain outlets to carry its products, this strategy is called ________.
exclusive distribution
Which of the following is an advantage of adding new channels in a multichannel distribution system?
expanding sales and market coverage
________ are manufacturer-owned and operated stores that offer prices as low as 50 percent below retail on a wide range of mostly surplus, discounted, or irregular items.
factory outlets
Advertising involves a personal presentation by the firm's sales force for the purpose of making sales and building customer relationships.
false
Advertising is the least used of the major promotion tools, although it has great potential for building consumer awareness and reference.
false
If used infrequently, price promotions create "deal-prone" customers who wait until brands go on sale before buying them.
false
The four major communication functions are encoding, decoding, response, and noise.
false
The number of products supplied indicates the length of a channel
false
The number of products supplied indicates the length of a channel.
false
Supermarkets are located near residential areas and are open long hours, seven days a week. They carry a limited line of high-turnover goods.
false convenience store
Product costs set the ceiling for prices.
false floor
The online and mobile equivalent of a pop-up store is ________.
flash sale sites
Category killers are giant specialty stores that carry a very deep assortment of a particular line.
for example best buy home depot and petsmart
A marketer making decisions about the headline, copy, illustration, and colors for a print ad is determining the message ________.
formal
The ________ organization is the most common type of contractual relationship.
franchise
Delia's is a clothing retailer that targets teenage girls. The company runs coordinated promotions for its catalogs, Web site, and retail outlets. It uses the same models in its catalog, print ads, and Web site. Delia's works to make sure its public relations activities as well as its sales promotions harmonize with its advertising in all aspects. From this information, we can infer that Delia's is using ________.
integrated marketing communication
Today, most 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.
integrated marketing communications
Whitelight sells its toothpastes in many convenience stores across the country. This is an example of ________ distribution.
intensive
Producers of convenience products and common raw materials typically seek exclusive distribution, a strategy in which they stock their products in as many outlets as possible.
intensive distribution
________ play an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities.
intermediaries
Which of the following is true of the exclusive distribution strategy?
it helps promote a brand's luxury image
Which of the following is true of optional-product pricing?
it involved pricing products that can be added to the base product
________ are retailers that offer sales assistance because they carry more shopping goods about which customers might need information.
limited-service retailers
For which product would a company use an exclusive distribution strategy?
luxury cars
Which of the following is one of the primary goals of reminder advertising?
maintain customer relationships
Many institutions, including retailers, wholesalers, and ________ do retailing.
manufactures
Which of the following statements is true regarding the old mass-media communications model?
many viewers are gaining control of message exposure through DVRs
In a bid to attract more customers in a market that has several competitors, Barrymore's Bakery slashed the prices of all its products by 50 percent. Managers at the firm reasoned that lower prices would draw in even more customers, making up for the reduction in price several times over. Which of the following pricing strategies are they using?
market-penetration pricing
Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and ________ pricing.
market-skimming pricing
Midnight Magic, a perfume manufacturing company, plans to release a new fragrance during the holiday season at $99 per bottle. The company intends to bring the price down to $49 within six months of its release to attract buyers who couldn't afford the initial price. Which of the following pricing strategies is Midnight Magic using?
market-skimming pricing
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.
marketing channel
From the economic system's point of view, the role of ________ is to transform the assortments of products made by producers into the assortments wanted by consumers.
marketing intermediaries
Overstock.com, a Web seller that buys furniture, clothing, electronics, and more from a variety of producers at less-than-regular wholesale prices and then charges customers less than retail, is a(n) ________.
off-price retailers
Supermarkets sell a limited selection of goods at deep discounts to consumers who pay membership fees.
off-price retailers
Which of the following is NOT one of a wholesaler's channel functions?
off-price retailing
Which of the following is a specialized and highly targeted media selection that an advertiser might use to reach smaller customer segments with personalized content?
online social network
Which of the following is an internal factor that affects pricing decisions in a company?
overall marketing strategy
A company must pay each month's bills for rent, heat, interest, and executive salaries regardless of the company's level of output. This exemplifies its ________ costs.
overhead
Which of the following companies uses product bundle pricing?
panizza, whose combo meals are priced lower than its individual components sold together
To help recruit, train, organize, manage, motivate, and evaluate relationships with channel partners, companies are now installing integrated high-tech ________ systems.
partnership relationship management
Which of the following is a type of flow that connects all institutions in a marketing channel?
payment flow
The long-run average cost (LRAC) curve indicates the ______.
per unit cost of output in the long run
In most cases, what is the most expensive promotion tool?
personal selling
A number of top fashion-modeling agencies would most likely be charged with ________ for jointly determining what commissions they charge for models.
price fixing
Which of the following is true of vertical marketing systems?
producers, wholesalers, and retailers act as a unified system
Daizy's is a shop that carries only plus-size clothing. According to this information, Daizy's differentiates itself from its competitors based on ________.
product assortment
Go Zone plans to introduce four tablet models over the next year. These models range from basic readers at $99 per unit, to more sophisticated tablets at $399 per unit. The more features a model has, the more expensive it is. What pricing strategy is Tone Zone using for its range of tablets?
product line pricing
Which of the following product mix pricing strategies involves setting prices across an entire product range based on cost differences between the products, customer evaluations of different features, and competitors' prices?
product line pricing
Which of the following promotion categories is most likely to use the promotion tools of press releases, sponsorships, events, and Web pages?
public relations
Using a(n) ________ strategy, the producer directs its marketing activities toward final consumers to induce them to buy the product. p
pull
Under which promotional mix strategy does the producer direct its marketing activities toward channel members to induce them to carry the product and promote it to final consumers?
push strategy
A ________ contains from 50 to 100 stores, is like a covered mini-downtown, and attracts customers from a wide area.
regional shopping center
An advertising objective is classified by its primary purpose, which is to inform, persuade, or ________.
remind
The experience curve reveals that _______.
repetition in production enhances efficiency
Retailers are classified on characteristics including the amount of service they offer, the breadth and depth of their product lines, how they are organized, and ________.
retailers classified in terms of several characteristics
Suppose Amazon.com has offered you free shipping on your next purchase of more than $35. This offer is an example of ________.
sale promotion
Which message execution style involves presenting survey data indicating that a brand is better than other brands?
scientific evidence
The discount offered by Glamor Gifts to customers who bought Valentine-themed merchandise the week following Valentine's Day is an example of a ________.
seasonal discount
Which of the following is a major element of developing an advertising strategy?
selecting advertising media
Which of the following is most likely an objective of informative advertising?
suggest new uses for a product
________ retailers in the United States are growing faster than product retailers.s
service
Which term refers to looking at merchandise at a traditional store and then purchasing the merchandise online?
showrooming
An ad for a new convection oven shows a busy professional woman using the convection oven to cook dinner for her family. Which of the following message execution styles is illustrated in this example?
slice of life
GameStop sells only video games and systems, offering a narrow product line with a deep assortment within that line. GameStop is a(n) ________.
specialty store
Today, ________ are flourishing due to the increased use of market segmentation and market targeting.
specialty stores
Shoe Trends, a company that manufactures formal shoes for men and women, offers to give its customers $10 for an old pair of shoes when they buy a new pair. In essence, they're reducing the price of the new shoes by $10. What is this type of price adjustment called?
trade-in allowance
A company's channel decisions directly affect the prices of its products.
true
Integrated marketing communications calls for recognizing all communications channels where the customer may encounter the company and its brands.
true
Internal factors affecting pricing include the company's overall marketing strategy, objectives, and marketing mix.
true
Marketing channel design calls for analyzing consumer needs, setting channel objectives, identifying major channel alternatives, and evaluating those alternatives.
true
The most common form of advertisement is product placement.
true
Which of the following brands most likely requires heavy advertising in order to be set apart from similar products?
undifferentiated brands
A ________ is made up of the company, suppliers, distributors, and customers who partner to improve the performance of the entire system.
value delivery network
Conflict that occurs between different levels of the same marketing channel is known as ________ conflict.
vertical
When KFC came into conflict with its franchisees over the brand's Unthink KFC repositioning, which emphasized grilled chicken over its traditional Kentucky fried chicken, KFC experienced ________ conflict.
vertical
A ________ is a wholesaler-sponsored group of independent retailers that engages in group buying and common merchandising.
voluntary chain
Which of the following is an example of an indirect marketing channel?
wine & dine which sells its picnic baskets to select novelty stores across the country
Personal communications about a product between target buyers and neighbors, friends, family members, associates, and other consumers, are known as ________.
word-of-mouth influence
