marketing ch. 9-14

omni-channel retailing

________ creates a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.

retailing

________ includes all the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use.

personal selling

________ includes sales presentations, trade shows, and incentive programs.

buzz marketing

________ involves cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities.

self-service

________ is a type of service offered by those retailers who serve customers that are willing to perform their own "locate-compare-select" process in order to save money.

deceptive pricing

________ occurs when a seller states price savings that are not actually available to consumers

intermediaries

________ play an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities.

segmented

By definition, ________ pricing is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differences in cost

specialty store

GameStop sells only video games and systems, offering a narrow product line with a deep assortment within that line. GameStop is a(n) ________.

narrow product lines; deep assortments

Specialty stores carry ________ with ________ within them.

optional product pricing

Which of the following product mix pricing strategies involves pricing additional or accessory products sold along with the main product?

growth

at which stage in the PLC do profits increase as promotion costs are spread over a large volume, and as the firm enters new market segments?

idea screening

in the new product development process, the first idea- reducing stage is _________.

commercialization

introducing a new product into the market is called _______.

idea generation

new product development starts with ______.

dynamic pricing

The Internet offers ________, where the price can easily be adjusted to meet changes in demand.

franchise

The ________ organization is the most common type of contractual relationship.

upstream partners

The sets of firms that supply companies with the raw materials, components, parts, information, finances, and expertise needed to create products or services are known as ________.

sales promotion

The use of short-term incentives to encourage the purchase or sale of a product or service is called ________.

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.

customer value-based

________ pricing uses buyers' perceptions of value as the key to pricing.

price elasticity

________ refers to a measure of the sensitivity of demand to changes in price.

encoding

________ refers to the process of putting thought into symbolic form.

price

_________ is the only element in the marketing mix that produces revenue.

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.

convenience store

A ________ is a small store, located near a residential area that is open long hours seven days a week and carries a limited line of high-turnover goods.

value delivery network

A ________ is made up of the company, suppliers, distributors, and customers who partner to improve the performance of the entire system.

off-price retailer

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) ________.

public relations

Press conferences, speeches, store openings, special events, newsletters, and store magazines are examples of ________ activities used by retailers to promote themselves.

by-product

Using ________ pricing, companies are able to turn their trash into cash, allowing them to make the price of their main product more competitive.

product life cycle

Which of the following refers to the course that a product's sales and profits take over its lifetime?

variable costs

costs that change with the level of production are referred to as ________.

good-value

when McDonald's and other fast food restaurants offer "value menu" items at surprisingly low prices, they are most likely using ______ pricing.

target customers

which of the following groups do marketers involve for the process of concept testing new products?

suppliers

which of the following is an external source for ideas?

company employees

which of the following is an internal source for new product ideas?

crowdsourcing

which of the following is the practice of inviting broad communities of customers, employees, independent researchers, and members of the public into the new product innovation process?

marketing strategy development

which of the following stages in the new product development would a firm engage in immediately after the completion of concept testing?

the promotion mix

A company's total marketing communications mix consists of a specific 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 set of communications tools?

noise

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 ________.

indirect

A marketing channel that consists of one or more intermediaries is known as a(n) ________ marketing channel.

message

A(n) ________ is a set of symbols that the sender transmits.

decline

According to PLC, the _______ stage is reached when sales plunge to zero, or when they drop to a low level where they continue for many years?

advertising

Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called ________.(includes broadcast, mobile, print, and online forms)

consumer

At its most basic form, a marketing channel consists of the producer and the ________.

market-skimming

Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and ________ pricing.

market-penetration pricing

Companies that set a low price for a new product in order to attract a large number of buyers and a large market share are using the ________ strategy.

horizontal

Conflict that occurs among firms at the same level of the marketing channel is known as ________ conflict.

vertical

Conflict that occurs between different levels of the same marketing channel is known as ________ conflict.

inelastic

If demand hardly changes with a small change in price, the demand is ________.

response

In the communication process, the reaction of the receiver after being exposed to a message is called the ________.

sales promotion

In-store demonstrations, displays, sales, and loyalty programs are examples of ________.

deliver a clear, consistent, and compelling message

Integrated marketing communications require a company's mass-market advertisements, Web site, e-mail, and personal selling communications to all ________.

word-of-mouth influence

Personal communications about a product between target buyers and neighbors, friends, family members, associates, and other consumers, are known as ________.

concept

a detailed version of a new idea stated in meaningful customer terms is called a product ________.

business analysis

a review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company's objectives is called a ________.

maturity

most products in the marketplace are in the ________ stage if the product life cycle.

product development

which of the following stages of the new product development process occurs immediately after the completion of the business analysis for the product or service?

marketing message

The AIDA model identifies the characteristics of an effective ________.

department store

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?

high to low

______ pricing involves charging higher prices on an everyday basis but running frequent promotions to lower prices temporarily on selected items.

price

______ refers to the amount of money charged for a product or service.

reference prices

________ are formed by noting current prices, remembering past prices, or assessing the buying situation.

factory outlets

________ 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.

limited-service retailers

________ are retailers that offer sales assistance because they carry more shopping goods about which customers might need information.

arouse desire

Using the AIDA model, an effective marketing message should get attention, hold interest, ________, and obtain action.

time-based

When a firm varies its price by the season, it is using ________ pricing.

location-based

When theaters vary seat prices due to audience preferences for seats in coveted rows, they use ________ pricing.

direct and digital marketing

Which major promotion category uses catalogs, direct mail, e-mail, mobile marketing and social media?

psychological pricing

Which of the following is a price adjustment strategy that considers how a customer's perception of a product is influenced by its price?

product bundle pricing

Which of the following product mix pricing strategies involves pricing multiple products to be sold together?

captive product pricing

Which of the following product mix pricing strategies involves pricing products that can only be used with the main product?

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?

restaurants

Which of the following would be considered a service retailer?

downstream partners

Which of the following terms refers to the wholesalers and retailers that form a vital link between the firm and its customers?

full-service retailer

Which type of retailer is most likely to require its employees to focus most on assisting customers as they shop?

full-service retailer

Which type of retailer usually carries more specialty goods at high prices and is more likely to provide customers with assistance in every phase of the shopping process?

category killer

Which type of store carries a deep assortment of a particular product line, has knowledgeable staff, and can be viewed as a giant specialty store?