Marketing Chapter 1-18
Wants
"needs" that are learned during a person's life.
Given the following data, compute the BEP in units:Price per unit = $3.00Variable cost per unit = $0.50Total fixed cost = $500,000
$200,000
Total advertising spending worldwide is more than ______.
$500 Billion
Competitive environment
1. Competitive Rivals 2. Competitor Analysis 3. Competitive Barriers 4. Competitive Advantage
Direct market environment
1. Customers 2 .The company 3. Competitors
External market environment
1. Economic environment 2. Technological environment 3. Political and legal environment 4. Cultural and social environment
List the steps of the new-product development process in order, placing the first step at the top of the list.
1. Idea generation 2. Screening 3. Idea evalauation 4. Development of product and marketing mix 5. Commercialization
New product development process
1. Idea generation 2. Screening 3. Idea evaluation 4.Development 5. Commercialization
Order the five levels of brand familiarity, from the lowest level of brand familiarity (listed at the top) to the highest level of familiarity (at the bottom).
1. Rejection 2. Nonrecognition 3. Recognition 4. Preference 5. Insistence
What percentage of workers in the United States are involved in sales?
10 percent
If a firm's total fixed cost is $200,000 and its fixed cost contribution per unit is $10, its break-even in units is ______.
20,000
About what percentage of the United States' gross domestic product is spent by government units?
30
Special Ts buys T-shirts for $8. After adding a $4 markup, they sell the T-shirts for $12. If the company determines the markup based on the selling price, then the markup on these T-shirts is _____.
33.3%
As a demonstration of their innovation in the grocery industry, in a typical year, Frieda's wholesale introduces about ______ new products.
40
Applying the research findings to a marketing strategy plan is the ______ step in the marketing research process.
5th
Approximately how many service firms are there in the United States?
6 million
Large retail stores that sell more than $5 million annually account for almost ______ of all retail sales in the United States.
75%
In the United States, ____ of all retail operations are classified as small.
85%
In the late 1990s, 36% of contacted households completed a phone survey. Today, about _____ of households participate.
9%
In the United States, about how many local government units (such as school districts, cities, counties, and states) actually make purchases?
90,000
Macro-marketing
: a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society.
Production
: making goods or performing services.
Which of the following refers to everyone who influences or makes a firm's purchasedecision?
A buying center
Which of the following would be included in a total product offering? (Check all that apply.)
A convenient package Helpful instructions A good warranty A useful physical good Superior service
What is the name for a company that owns and operates multiple stores?
A corporate chain
What is a popular type of qualitative marketing research that involves group interaction to encourage participants to share their thoughts?
A focus group interview
Which of the following is typical of a good salesperson?
A good salesperson will try to help the customer by understanding their needs.
What are two advantages of direct investment? (Check all that apply.)
A high degree of control over the marketing mix Knowledge of the country's market
The owner of a web-based business might want to check to see how many customers are currently visiting her online store or placing orders. What tool allows her to see this activity on the computer in real time?
A marketing dashboard
Which of these products is protected by copyright law?
A musical score
In the marketing research process, what specifies which information will be obtained and how it will be obtained?
A research proposal
______ is an automated process of analyzing and categorizing social media to determine how many positive, negative, and neutral online comments a brand receives.
A sentiment analysis
Which of the following statements best defines the term Job Description?
A written statement of what a salesperson is expected to do.
What is experimental method sometimes referred to as?
A/B Testing
What two advantages does a marketer gain by using direct distribution? (Check all that apply.)
Ability to transform its marketing mix rapidly Sensitivity to shifts in customer moods
Which regrouping activity would be beneficial in an agricultural market that consists of many small producers?
Accumulating
Price policies usually lead to ___________ -consciously set prices
Administered prices
____is any paid form of non-personal presentation of ideas, goods, or services by an identified sponsor
Advertisement
Firms spend the least on which of the following promotion methods?
Advertising
_______ manage their company's mass-selling effort in television, newspapers, magazines, and other media
Advertising Managers
____are prices reductions given to firms in the channel to encourage them to advertise or otherwise promote the suppliers product locally.
Advertising allowances
Determining Dimensions
Affect the customer's purchase of a product or brand and Can be further segmented
Select all that apply Which of these situations involves an intangible service?
All Brenna could think about after she left the movie was how happy the couple were when they finally got together. Maria and her husband knew they would need a lawyer to give them advice on the issue.
What are like discounts, are given to to final consumers, business customers, or channel members for doing something or accepting less of something?
Allowances
An Aeron desk chair in a professor's office is an example of what type of business product?
An accessory
White paper
An authoritative report or guide that addresses important issues in an industry and offers solutions.
What types of firms typically hire market research firms or research specialists to help them with market research? (Check all that apply.)
An increasing number of not-for-profit organizations Large, for-profit companies
What academic discipline is ethnographic research based on?
Anthropology
All of the following represents the AIDA sequence except?
Approach
Putting together a variety of products to give a target market what it wants occurs in which regrouping activity?
Assorting
Splashes Car Wash offers its car wash customers air fresheners, car mats, and lint free cloths. This is an example of which regrouping activity?
Assorting
AIDA stands for ______.
Attention, Interest, Desire, Action
What is a person's point of view toward something?
Attitude
What is the term for places where goods are offered and purchased through the use of bids?
Auction companies
______ are a way to determine what a group of potential customer would pay.
Auctions
Customers who buy and receive products from vending machines are participating in what type of retailing?
Automatic vending
What cost decreases steadily as quantity increases?
Average fixed cost
Jenna works for a company that manufacturers rain boots. Recently, the company started selling the boots directly to consumers online, but decided to stop this practice after receiving complaints from retailers who also sold the company's boots. What was Jenna's company hoping to accomplish by removing the online site?
Avoid conflict with the retailers
Adoption Process Steps
Awareness, Interest, Evaluation, Trial, Decision, and Confirmation
One of the key differences between organizational customers and final consumers includes
B2B e-commerce
Which of the following is a consequence of the perishable quality of services?
Balancing supply and demand can be challenging.
Even though it is clear that traditional channel systems are not recommended, why do they continue to occur?
Because channel members have different objectives
Which of the following are reasons a company might choose a direct channel to distribute its products? (Check all that apply.)
Because it believes it can better serve customers that way Because it wants to directly manage the entire marketing mix Because it believes it can offer a cheaper price that way
What are two reasons an intermediary might be better suited to lead a channel than a producer? (Check all that apply.)
Because it is closer to the final user Because it has data about the final user
Why do some companies use the same markup percent as each other?
Because their operating expenses are alike
Why are haphazard or unorganized methods of performing marketing research considered ill-advised? (Check all that apply.)
Because they misuse marketing managers' time Because they are costly Because they are not based on the scientific method
Which of the following are characteristics of category killers? (Check all that apply.)
Below average prices A focus on specific product types
"Big _____ " is the name given to data sets that are too large and complex to work with typical database management tools.
Big Data
With the advent of cloud storage and other online storage tools, Micah's company is now able to save all the data it collects from internal sources, external sources, and marketing research studies. The company wasn't able to store all of this with its former database management system. What phenomenon is Micah's company experiencing?
Big data
Which of the following are examples of professional services? (Check all that apply.)
Billings advertising agency creates print advertisements for 50 different clients. Speedtech IT maintains networks and websites for ten clothing retailers. BMC Management provides consulting services to improve efficiency.
Ally Arndt ran the milking machines at Bittman's Dairy Farm (BDF).When BDFneeded three new milking machines, Chris Collins, who maintained all the equipmenton the farm, was asked his opinion on what brand to buy.Dolly Derringer was theoffice manager, and she controlled who got access to Billy Bittman, who ultimatelydetermined which brand the farm would buy.Ed Eggleston worker with the supplierto figure out terms of the sale.Match each person to their respective buying influence.
Billy - decider Dolly - gatekeeper Ed - buyer Ally - user Chris - influencer
Which of these companies is performing a sentiment analysis?
Bob's Burgers reviewed the number of positive and negative tweets about its new sandwich.
What is not an example of a sales promotion activity aimed at final consumers or users?
Bonuses
Which of the following promotion activities is aimed at the company's own sales force?
Bonuses and Contests
______ evaluates whether the firm will be able to cover all of its costs with a particular price.
Break-even analysis
Which of the following are characteristics of a good brand name? (Check all that apply.)
Brief and simple Easy to recognize and recall Does not go out of date
Which of these choices is NOT a vertical integration advantage?
Build trust and reduce conflict
A supermarket chain purchases fruits and vegetables in very large quantities. The company then distributes smaller orders to its individual stores to offer to consumers. This is an example of which regrouping activity?
Bulk-breaking
What is the process that occurs in a channel of distribution by which a large quantity of product is split into smaller quantities?
Bulk-breaking
Any buyers who buy for resale or to produce other goods and services:
Business and organizational customers
How does a manager determine the average cost per unit for a product?
By analyzing company documents from the previous year
How does a licenser make money through licensing its process, trademark, patent, or other rights in international markets?
By collecting fees and royalties
Which of the following are ways in which industrial markets are concentrated? (Check all that apply.)
By company size By economic development In specific geographic areas
How do the results of a marginal analysis help marketing managers determine the best price for a product?
By demonstrating how price affects costs, revenues, and profits
How is the average variable cost (per unit) determined?
By dividing the total variable cost by the related quantity
What is the best way for marketing managers to identify the correct problem and not its symptoms?
By doing research
Which of the following is an advisable way for firms that practice direct investment to gain the approval of citizens of the host country?
By offering local people jobs
At the company where Rick works, one sales team is responsible for selling generators, while another team is responsible for selling heating units, and a third team handles air conditioning systems. How does Rick's company divide its sales teams?
By product line
Which of the following are common ways in which customers obtain information online about products for purchase? (Check all that apply.)
By reading posted reviews By viewing photos and videos By chatting with a virtual salesclerk
Which of these questions could be used in qualitative research?
Can you describe your recent 50-mile bike ride?
Which of the following are examples of individual needs that organizational buyers might consider when making a buying decision? (Check all that apply.)
Career advancement Risk of being blamed for a bad choice Job security
Except for the payment required, the activities of service wholesalers resemble the activities of what other type of wholesaler?
Cash-and-carry
What type of wholesalers require their customers to pay for their purchases with cash only?
Cash-and-carry
If customers use booklets to study products and then place their orders online, by phone, or through the mail, they are using the services of what type of wholesalers?
Catalog wholesalers
Match each of the following individual products to its target market.
Citibank Individual Retirement Accounts-Charles is a employee of Shell Oil Company and is concerned about the future. Citibank Online Bill Pay- Fred is a busy attorney at a law firm where he works 60-plus hours a week and doesn't have much time. Citibank Business Credit Cards-John is a recent college graduate who is starting a graphic design services company and does not have many financial resources. Citibank Home Equity Loans-Ben and Julie are homeowners who are expecting their first child and want to expand their living space.
_____ allows for customer to suggest improvements to a prototype
Co-creation process
K.C. Rao, brand manager for Hershey, has introduced a new low-calorie chocolate candy bar, Choco-Lite. He is gradually rolling out the product, starting to sell it in the western United States before moving east. He has decided on an expensive promotional campaign to make customers aware of the new bar. Choco-Lite is in which step of the new-product development process?
Commercialization
The advertisement on the back page of Sandy's newspaper compared the cost savings between three major furnace manufacturers and listed each company by name. What type of advertisement was Sandy looking at?
Comparative
What type of advertising describes a specific product, along with the names and features of rival products?
Comparative
The greater the ______ of a new product over those already on the market, the more rapidly its sales will grow
Comparative advantage
Which of the following should not be part of a company's sales training program?
Compensation plan
Which of the following is NOT true about transporting?
Competition in the industry decreased after the US decreased regulations
Micah saw an advertisement for the new Google phone that emphasized a higher-quality camera than some of the other phones on the market. What type of advertisement was Micah reading?
Competitive
Which of the following does NOT describe the four basic kinds of market competitive situations?
Competitive advantage
What are two characteristics associated with warehouse clubs? (Check all that apply.)
Competitive prices Annual membership fee usually paid by customers
Which of the following is not one of the four major areas of the external market environment?
Competitor Analysis
Which of these involves getting reactions from customers about how well a new-product idea fits their needs?
Concept testing
Physiological needs
Concerned with biological needs—food, liquid, rest, and sex.
Which of these can be hidden costs customers encounter when shopping online? (Check all that apply.)
Concerns about fraud Handling costs
______ is the range on either side of an estimate form a sample that is likely to contain the true value for a whole population
Confidence Intervals
Which of the following helps identify and solve a customer's need prior to closing the sale?
Consultative selling approach
What Act set up a commission and gave them the power to set safety standards and impose penalties for failures to meet these standards?
Consumer Product Safety Act
Which governmental body was set up to encourage safety in product design and better quality control?
Consumer Product Safety Commission
Which of the following are intended to be purchased and used by the final end user?
Consumer products
Specialty Products
Consumer products that the customer really wants and makes a special effort to find.
What are three benefits of conducting a telephone survey? (Check all that apply.)
Consumer responses can be recorded Fast turnaround Interviewer can ask follow-up questions
Club store
Consumers usually pay an annual membership fee to shop in these large, no-frills facilities.
Which of the following is not a factor that effects the physical distribution service levels?
Containerization
What kind of retailer makes it easy for customers to quickly buy products like milk and bread and avoid purchasing these items at a larger retail grocer?
Convenience stores
Match the key dimensions (on the left) that help characterize most buyer-sellerrelationships with an example (on the right) of that key dimension.
Cooperation - working jointly to reach shared goals Information sharing - exchange of proprietary data Operational linkages - direct connection between the buyer's and seller's internaloperations Legal bonds - the formal, contractual relationship between the buyer and seller Relationship-specific adaptations - customization of procedures to improve the relationship between the buyer and seller
______ relationships are those in which buyers and sellers work jointly to meet mutual and individual objectives.
Cooperative
Which of these researchers is using the experimental method to collect information?
Corinne provided each participant with two plates. Each plate held a slice of pizza. The plates were labeled "A" and "B."
What are the three types of vertical marketing systems? (Check all that apply.)
Corporate Administered Contractual
What is the general name for companies, such as Walmart and Target, that operate more than one retailing site?
Corporate chains
Match each vertical marketing system (on the left) with its real-world example (on the right). Instructions
Corporate- Starbucks is the largest coffeehouse company in the world with more than 11,000 company-owned stores in the United States. Administered- Walmart has the buying power to control the relationships it has with its many vendors. Contractual- McDonald's grants the right to market its goods within a certain territory or location. This situation is controlled by the legal relationships between the companies.
______ advertising refers to ads that a company must run after being found guilty of deceptive advertising.
Corrective
What are three elements of a research proposal? (Check all that apply.)
Cost of data collection The way the data will be acquired The type of data that will be acquired
What are the two basic approaches to price setting?
Cost-oriented and demand-oriented
Which of the following is NOT an example of factors that affect Physical Distribution service levels
Costs of risks such as theft and fire
_________ make unauthorized copies of products.
Counterfeiters
Which of the following are examples of sales promotion activities aimed at final consumers or users? (Check all that apply.)
Coupons Aisle displays Samples
Product market
Customer (user) needs, Customer types, Geographic area, Product type (good and/or service)
Generic market
Customer (user) needs, Customer types, and Geographic area
Joe's Heating and Air Conditioning Corp. is conducting research that focuses on the entire process of purchasing a home heating system from the initial need for a new furnace, to how the customer learned product information and selected an installer. What type of qualitative data is the company using?
Customer journey map
The Marketing concept
Customer satisfaction, Profit (or another measure of long-term success) as an objective, and Total company effort
____work with the customer to resolve a problem that arise with a purchase.
Customer service rep
Which of the following is not considered a form of public relations?
Customers
Matthew received a pacemaker to help the arrhythmia he is experiencing with his heart. The pacemaker provides a continual stream of information that is monitored by specialists at the heart clinic and if they notice any indicators of concern, they contact Matthew and he reports to the clinic for assessment. What is helping the heart clinic improve the quality of care Matthew is receiving?
Data
What is syndicated data?
Data collected by a firm and sold to marketing managers
What is big data?
Data sets too large and complex to work with typical database management tools
Which of the following are true of the battle between manufacturer and dealer brands? (Check all that apply.)
Dealer brands account for almost 30% of purchases in U.S. grocery stores. In the past, dealer brands were far less popular than manufacturer brands.
People in the organization who have the power to select or approve the supplier are called
Deciders
In the era of digital cameras, Kodak uses targeted promotion to reach those customers who still desire its 35mm cameras and film. In which stage of the product life cycle is Kodak competing?
Decline
In which stage of the product life cycle does a firm eventually decrease the total amount spent on promotion?
Decline
What is it called when the receiver translates the message?
Decoding
_______ is the receiver translating the message
Decoding
What is generally the most challenging step of the five-step approach to marketing research?
Defining the problem
Place the steps in the model of business and organizational buying in the proper order,with the first step at the top.
Defining the problem The decision-making process Managing the buyer-seller relationship
Five-Step Scientific Approach to Marketing Research Process
Defining the problem, Analyzing the situation, Getting problem-specific data, Interpreting the data, and Solving the problem
For a company, what are three possible benefits of using reverse channels? (Check all that apply.)
Demonstrating its commitment to the environment Generating profit Saving money
Which of the following is a way in which marketing managers narrow down research objectives?
Develop a list of questions that includes all possible problem areas.
Which of the following is true?
Different consumers favor different kinds of retailers.
What are two limitations associated with surveys? (Check all that apply.)
Difficult to get respondents to expand on answers It might take awhile to compile the data
______ competitive advertising aims for immediate buying action.
Direct
What type of advertising tries to persuade the customer to choose a particular product instead of its rivals, and to purchase it immediately?
Direct competitive
Of all the approaches to entering an international market, which is the most financially risky?
Direct investment
Which of the following describes a parent firm having a division or subsidiary in a foreign market?
Direct investment
A large number of forces shape the market environment. Which of the following is not considered a major area of the external market environment?
Direct market environment
What is direct communication between a seller and an individual customer using a promotion method other than face-to-face personal selling?
Direct marketing
The difference between the quantity of products it is economical for a producer to make and the quantity final users or consumers normally want is known as which of the following?
Discrepancy of quantity
Where does a family's purchase of "luxuries" comes from?
Discretionary Income
Money left of income after paying taxes and buying necessities is called?
Discretionary income
Which is NOT a variable that influences an individual's buying behavior?
Dissonance
Which of the following is not a step in the adoption process?
Dissonance
A______is a special kind of warehouse designed to speed the flow of goods and avoid unnecessary storing costs.
Distribution Center
Which of the following is false about the supply chain?
Does not distribute finished products to customers
A person who travels to homes to sell Mary Kay cosmetics is engaging in what type of retailing?
Door-to-door
What type of retailing features a salesperson visiting a customer at the place where they live?
Door-to-door
What is a strong stimulus that encourages action to reduce a need?
Drive
The Learning Process
Drive, Cues, Response, and Reinforcement
Limited-function wholesalers who sell products but do not touch, store, or ship them are known as what type of wholesalers?
Drop-shippers
What kind of wholesalers do not carry stock, but take orders and give these orders to manufacturers?
Drop-shippers
_____ require minor changes in customer behavior
Dynamically continuous innovations
Which of the following statements about promotion blends is correct?
Each market segment may require a unique promotion blend.
_____ avoids risk and waits to consider a new idea after many early adopters have tried it and liked it
Early Majority
______ avoids risk and waits to consider a new idea after many early adopters have tried it and liked it
Early Majority
A Salesperson on straight salary:
Earns the same amount regardless of how they spend their time on the job
Which of these characteristics help a new product move quickly through the early stages of the product life cycle? (Check all that apply.)
Ease of use Matches values of target customers Comparative advantage
People who know all the facts and logically compare choices to get the greatest satisfaction from spending their time and money are called?
Economic buyers
Which of the following factors are important to new product success? (Check all that apply.)
Effective transitions from idea to market Effective product design Offering superior customer value
Which of the following do NOT influence the Physical Distribution(PD) service levels?
Electric Data Interchange (EDI)
What is one thing a marketing model is used for?
Enables a manager to look at the sales( and costs) expected with different types of promotion and select the marketing mix that is best for a particular target model
The direct market environment includes customers, the company and competition. Which area does NOT belong in the external environment?
Ethical Issues
Which of the following statements is true of ethnographic research?
Ethnography involves studying customers in their homes or at work.
Which of the following are ideas consistent with total quality management? (Check all that apply.)
Everyone in the company should care about quality. It is less expensive to do things right the first time. Poor quality equals lost customers.
Internet retailing
Expanded assortment, reduced margins, and more information
An outcome or event that a person anticipates or looks forward to is called?
Expectation
If a global company needs help understanding the market in different areas of the world, the company can turn to what type of agent?
Export or import
Wilson Sporting Goods and Sports Equipment sells its products in a number of international markets. What type of entry strategy is Wilson using to enter those markets?
Exporting
True or false: Salespeople are not an important part of all economies.
F
True or false: The National Do Not Call Registry has boosted the use of telemarketing for many companies.
F
A ____ is an idea that is fashionable only to certain groups who are enthusiastic about it
Fad
True or false: A firm should apply the same promotion blend across all marketing situations to maintain consistency.
False
True or false: Companies that collect and analyze big data and respond to an online customer "before the next click" are doing so in order to reach a vast and generalized audience.
False
True or false: Frieda's Wholesale knows that tradition is the key to success and relies on traditional food items to meet the demands of its retail clients.
False
True or false: In the "battle of the brands," intermediaries have no advantages over manufacturer brands.
False
True or false: It is more common for small companies to use multichannel distribution.
False
True or false: Marketing managers should focus on informing customers about their brand during the market growth stage of the product life cycle.
False
True or false: More ideas are generated in a firm with a culture that emphasizes efficiency and cost-cutting.
False
True or false: Now that companies spend more money on new product introduction, it is common for more than 80 percent of new products to succeed.
False
True or false: One disadvantage to vertical integration is higher executive overhead costs.
False
True or false: One reason for the increased use of sales promotion by many consumer product companies is that there are fewer products competing for store shelf space.
False
True or false: Product liability is capped so that total costs to a firm cannot exceed its total assets.
False
True or false: The average time American's view a print newspaper has increased in the past three years.
False
True or false: The idea of a shared product-market commitment, when all channel members focus on the same target market, has traditionally been the way most firms have handled channel relationships.
False
True or false: The sales and profits of an individual brand always follow the product life-cycle pattern.
False
True or false: The smaller the sample size, the greater the accuracy of estimates from a random sample.
False
True or false: The wheel of retailing theory provides accurate explanation for all major retailing developments.
False
True or false: When planning sales promotion that targets other businesses, a company should not use the same type of promotions that have worked with other customers.
False
True or false: When using the omnichannel approach, stores focus on service within a single retail channel. True false question.
False
True or false: Worldwide, the least amount of advertising money is spend in North America and Europe.
False
Interests (Lifestyle Dimensions)
Family, Community, Food, Home, Recreation, Media, Job, Fashion, and Achievements
The currently accepted or popular style is
Fashion
In order to provide consumers with sufficient information, the ______ Act demands that the packaging of consumer goods use language that is easy to understand.
Federal Fair Packaging and Labeling
In the United States, what political entity has jurisdiction to regulate unfair or deceptive business practices, including deceptive advertising?
Federal Trade Commission (FTC)
San Andreas sells active wear clothing in the United States. The company is being investigated for deceptive advertising. The investigation would be conducted by the ______.
Federal Trade Commission (FTC)
What is the final element in the traditional communication process?
Feedback
Why do Internet retailers have lower operating costs than brick-and-mortar stores?
Fewer salesclerks
Exclusive Market Exposure
Few—one per geographic area number of outlets
Which of the following typically occur in the market introduction stage of the product life cycle? (Check all that apply.)
Firms inform customers about the product. Sales are low. Customers are not seeking the product.
A_____ policy means offering the same product and quantities to different customers at different prices.
Flexible-Price
What name was given to retailers who stocked a wide range of products and were the main retailers in the U.S. about 150 years ago?
General stores
Which is the third step in the marketing research process:
Getting problem-specific data
Cooperation in administered channel systems agree to four tasks. Which of the following choices is not one of those tasks?
Getting the product to the consumer
Which of the following are considered "products"? (Check all that apply.)
Goods Services
Which of the following is the total market value of all goods and services provided in a country's economy in a year by both residents and nonresidents?
Gross Domestic Product
Which of the following are examples of company needs that might be considered when making a buying decision?
Growth Survival
Matching Question Match the product (on the left) to its blend of physical goods and services (on the right).
Handkerchief-100% physical good Life insurance-100% service Cable TV-Blend of physical good and service
Rather than look at the sales and income generated from the last product introduction in the spring, Millie decided to introduce the new product because she had a good feeling it would do well in the market. Six months later, Millie couldn't believe how low the sales were for the product. What should Millie have used to make a better decision?
Hard data
Which of the following tends to lead to a lower overall cost for suppliers and their customer firms?
Having a close working relationship
Consumption Sector
Heterogeneous demand for different goods and services and when and where they need to be to satisfy needs and wants
What is a disadvantage of personal interview surveys?
High cost
When Karen saw the cute kittens in the television commercial she was drawn into the ad and when the announcer talked about the importance of feeding your cat the Cat's Meow food brand, she continued to listen because she wanted to make sure her cat had the best food available. The announcer's words enforced which part of the AIDA model?
Hold interest
Shopping Products
Homogeneous and Heterogeneous
What are the two classifications of shopping products?
Homogeneous; heterogeneous
Which of the following are possible ethical concerns related to promotion? (Check all that apply.)
Honesty Fairness
______ conflicts occur between firms at the same level in the channel of distribution.
Horizontal
What are two examples of "soft goods" sold by mass-merchandisers? (Check all that apply.)
Housewares Clothing
Which of the following should impact marketing strategy planning? (Check all that apply.)
How fast the product is moving to the next stage Where a product is in its life-cycle stage
When introducing a new product in the market introduction stage, which of the following must a marketing manager consider? (Check all that apply.)
How to promote the product Which distribution channels to select The cost of product development
What is another name for supercenters?
Hypermarkets
A way for a supplier to document its quality procedure according to internationally recognized standards
ISO 9000
The way for a supplier to a document its quality procedures according to international standards is called
ISO 9000
All of the following are part of the Product Life Cycle EXCEPT:
Idea Generation
Match the activities (on the right) with the appropriate step of the new-product development process (on the left).
Idea Generation-Screening- Solicit ideas from customers. Idea evaluation- Idea fit with company objectives. Development- Create prototype. Commercialization- "Roll out" product in select markets
Which two of the following statements about market exposure are true? (Check all that apply.)
Ideal market exposure makes just enough of a product available to satisfy the consumers' needs. The amount of market exposure needed for a product to be successful differs from product to product.
In which way can the sales force help with the marketing information function?
Identifying new competitors
Which of the following statements is true of international marketing research?
If a firm is doing similar research projects in different markets around the world, a manager should establish some basic guidelines at the outset.
What is often one characteristic of new retailing approaches?
If they succeed, other countries will adapt them.
Which of the following statements is true of a focus group?
In a focus group, an interviewer seeks group interaction—to stimulate thinking and get immediate reactions.
What issues can negatively impact the validity of market research? (Check all that apply.)
Inaccurate responses from respondents Questions that are written poorly
When considering international markets, what is one of the most important demographic dimensions?
Income
What type of advertisement emphasizes the advantages of a product in hopes that customers will decide to buy the product at some later time?
Indirect competitive
Choose the answer that best describes "deciders" as a possible buying influence
Individuals in the organization who have the power to select of approve the supplier
The North American ___ Classification System (NACS) uses codes that grouptogether businesses that are similar to each other.
Industry
Which of the following occur in the market maturity stage of the product life cycle? (Check all that apply.)
Industry profits decline. Competition gets tougher.
MIS
Information for implementation, planning and control
Which five of the following are key dimensions of most buyer-seller relationships?
Information sharing Operational linkages Cooperation Legal bonds Relationship-specific adaptations
Dimensions of buyers-sellers relationships
Information sharing, Operational linkages, Cooperation, Legal bonds, and Relationship-specific adaptations
Which is not one of the four promotion jobs of the AIDA model?
Informing
Secondary data sources
Inside company and Outside company
What type of advertising emphasizes the identity and reputation of an organization or industry?
Institutional
Which type of advertising promotes an organization's identity instead of the things it sells?
Institutional
______ advertising promotes an organization's image, reputation, or ideas rather than a specific product.
Institutional
______ advertising usually focuses on the prestige of an organization or industry.
Institutional
What is the most obvious prerequisite for a consumer to shop online?
Internet access
What type of retailers are still in the market growth stage?
Internet merchants
Marketing managers can use which of the following in order to acquire information about a market? (Check all that apply.)
Interviews Questionnaires Experiments Observations
______ is a system for linking computers within a company
Intranet
The product life cycle
Introduction, Growth, Maturity, and Decline
Physical Distribution, to most consumers, should be the_______ part of marketing
Invisible
How has the rise of carriers such as FedEx and UPS affected wholesalers?
It has hurt their business, since manufacturers can send items to customers.
A good situation analysis offers which of the following benefits to marketing managers? (Check all that apply.)
It may eliminate the need to collect more data. It gives useful information. It is comparatively quick.
Seeing sales of its tennis balls in decline, the brand manager at Tennis Pro International made minor changes to the brand's packaging (moving from three-ball packages to four-ball packages) and promoted this as a new product. How would the Federal Trade Commission respond to this decision?
It probably would not approve of it.
Which of the following best defines brand familiarity?
It refers to the extent to which customers recall and accept a company's brand.
Which of the following are benefits of reducing the number of research objectives at the start of the marketing research process?
It saves money. It saves time.
Why is 'fixed response' the typical format of a survey questionnaire?
It simplifies data analysis.
Which of these individuals is working within a channel of distribution?
Jason drives a truck for a restaurant supply company and delivers products to The Beach House Restaurant.
Which of these consumers is paying a company based on subscription pricing?
Jen pays a monthly fee for the daily newspaper to be delivered to her front door.
In a ____ a domestic firm enters into a partnership with a foreign film
Joint venture
Which of the following is the practice of reducing storage by supplying parts ormaterials to a customer only as a customer needs to use them?
Just-in-time
What kinds of producers tend to lead channels?
Large producers
If a company wanted a best-selling product what consumer process would they focus on?
Learning Process
Which five of the following are key dimensions of most buyer-seller relationships? (Check all that apply.)
Legal Bonds Information sharing Operational Linkages Cooperations Relationship-specific adaptation
What are potential sources of secondary data? (Check all that apply.)
Library Trade associations
Selling the right to use some process, trademark, patent, or other right for a fee or royalty is referred to as
Licensing
What are the five approaches a firm might use to enter international markets? (Check all that apply.)
Licensing Exporting Management contracting Joint venture Direct investment
Which of the following is an example of a regularly unsought product?
Life Insurance
What is a person's day to day pattern of living an expressed in a person's activities, interests, and opinions?
Lifestyle Analysis
Why have some retailers taken their business to other countries?
Limited expansion in their home countries
Wholesalers who engage in certain wholesaling activities (but not all wholesaling activities) are known as what kind of wholesalers?
Limited-function
Traditional channel systems
Little or none amount of cooperation. Typical channel of "independents"
Which of the following is NOT an expense that contributes to Total Inventory Cost?
Logistics
Colin is a marketing manager at Page-by-Page Books, Inc. His company has implemented a system that continually gathers information about market trends and buying habits in the industry. Colin uses the information to make informed decisions about the company's marketing activities. What type of system does his company use
MIS
Which of the following research methods would be the most suitable for acquiring detailed private information, including past history, about people's purchase habits?
Mail or online survey
Which describes that it sells directly to large accounts?
Major accounts sales force
The Sarbanes-Oxley Act of 2002 consists of:
Making individual executives responsible for their company's financial disclosures
What market entry approach allows a domestic firm to avoid the costs of managing production and distribution?
Management contracting
What kind of wholesalers receive commissions for selling multiple manufacturers' goods?
Manufacturers' agents
What is the name for warehouses that manufacturers establish that are distinct from their manufacturing facilities?
Manufacturers' sales branches
Intensive Market Exposure
Many number of outlets
Match the stage of the product life cycle (on the left) with the characteristics of the product-market (on the right).
Market introduction -Verizon introduces a phone with a 3D screen; no other firm has one. Market growth - Several firms sell compact fluorescent light bulbs; sales and profits are growing. Several firms sell compact fluorescent light bulbs; sales and profits are growing. Market maturity -There is a battle of the brands in frozen pizza, with all brand offerings being relatively similar. There is a battle of the brands in frozen pizza, with all brand offerings being relatively similar. Sales decline matches - Only a few firms still make disk drives for computers; sales and profits are dropping fast.
Which stage occurs when industry sales level off and competition gets tougher?
Market maturity
______ is the continuous gathering, accessing, and analyzing of information that marketing managers need to make decisions
Marketing Information System(MIS)
marketing plan
Marketing Strategy and time-related details
What two things does a franchise holder receive from a franchise operation?
Marketing help Purchasing strength
Which of the following statements about marketing information systems is true?
Marketing information systems can handle big data—or data sets too large and complex to work with typical database management tools.
A statement of relationships among marketing variable is a?
Marketing model
Jacob is reviewing a report that shows him the sales and costs anticipated with the three different promotional efforts his company plans to use for the new product. From this, he selects the marketing mix appropriate for the product. What type of report is Jacob using to make his decision?
Marketing model
Marketing Program
Marketing plan and Other marketing plans
______ are procedures that develop and analyze new information about a market?
Marketing research
What is the name of the five step application of the scientific method that includes: Defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, and solving the problem?
Marketing research process
target marketing
Marketing-oriented manager sees everyone as different and practices
Which of the following is a promotion objective needed for the marketing hierarchy of objectives?
Mass selling objectives
What is the name for retailers, such as Target and Walmart, that offer stores with several departments but little customer service?
Mass-merchandisers
Which type of retailers offer low prices to sell large quantities of goods quickly?
Mass-merchandisers
Tesco, Walmart, and Amazon.com are known as which type of retailers?
Mass-merchandising
In response to widespread competition, Coca-Cola increased its use of reminder-type advertising and implemented more frequent-buyer promotions toward its loyal customers. Based on this promotion blend, it would appear that Coca-Cola is operating in which stage of the product life cycle?
Maturity
In what stage of the product life cycle do many firms slash prices or modify existing products to add value and maintain market share?
Maturity
In which stage of the product life cycle do personal selling and advertising of business products become more aggressive?
Maturity
What is the term for wholesalers who own the goods they sell to others?
Merchant wholesalers
The in-between process where some review of the buying situation is done:
Modified rebuy
Which market situation is typical of the market growth stage of the product life cycle?
Monopolistic competition
Which three of the following are advantages of vertical integration? (Check all that apply.)
More buying power More control of distribution Lower executive overhead
Vendor managed inventory systems, such as the one Costco uses, reduces all of the following choices except which one?
Multichannel shopping
The situation in which several people are involved in deciding on a purchase is called___ buying influence.
Multiple
Which two items are most commonly purchased online? (Check all that apply.)
Music Books
Mason was reading an online newspaper and came across a document that looked just like another article in the paper but was actually an advertisement for orthopedic shoes. What type of advertisement was this?
Native
Which of the following occur in nature and are forms of raw material?
Natural products
What are some examples of personal needs?
Need for: a better world, accomplishment, fun, freedom, and relaxation
What are the basic forces that motivate a person to do something?
Needs
When a buyer and seller cannot determine all the details of a transaction in advance, they can turn to ______ contract buying, which allows purchasing arrangements to be modified as needed.
Negotiated
______ buying is an agreement that permits adjustments in purchase arrangements.
Negotiated contract
Which of the following means that payment for the face value of the invoice is due immediately?
Net
Unsought Products
New Unsought and Regularly Unsought
Which of the following customers are examples of government units? (Check all that apply.)
New York City Fire Department United States Marine Corps Denver Public Schools
Diversification
New markets and New products
Market development
New markets and Present products
______ is essential if a company is going to survive in today's dynamic markets.
New product development
________ apply only to individual orders
Noncumulative quantity discount
Which of the following statements is true of the processes used to gather problem-specific data?
None of these alternatives is true.
The "people meter" used by Nielsen Media Research is an example of which type of data gathering technique?
Observation
Primary data sources
Observation and Questioning
_______ is a method of collecting data that focuses on a well-defined problem.
Observing
Richard told the marketing team that it was imperative for the company to provide a seamless shopping experience within every shopping channel -- online, physical store, and mobile devices. What selling approach is Richard advocating?
Omnichannel
In a competitive environment, monopoly situations occur when?
One firm completely controls a broad product market
What type of research offers the benefits of face-to-face focus groups, while minimizing the limitations?
Online focus groups
What are the three categories of supplies? (Check all that apply.)
Operating Maintenance Repair
Jesse T. works for a professional hockey franchise and sells season tickets to corporate clients. Jesse typically cold-calls big companies and tries to establish relationships with those customers. He has developed a well-organized sales presentation to sell the ticket packages and sponsorships he can offer. Which basic sales task is Jesse performing?
Order getter
Salespeople concerned with establishing relationships with new customers and developing new business are known as ______?
Order getters
Which of the following statements about order takers is true?
Order takers maintain and nurture relationships with established customers.
Which term means seeking possible buyers with a well organized sales presentation meant to sell a good, service or idea?
Order-getting
To contract with an outside firm to produce goods or services rather than to produce them internally is called
Outsource
A contract with an outside firm to produce goods or services rather than to produce them internally is
Outsourcing
U.S. shoppers generate much more trash per person than anywhere else on earth. Much of this trash is
Packaging
What aspect of a product makes it easy to identify on the store shelf?
Packaging
Which of the following is responsible for a product's promotion, protection, and enhancement?
Packaging
What protects a company's ideas or processes and limits competitors to second-rate offerings?
Patent
What is the most common method used for budgeting promotion expenditures?
Percentage of sales method
How do we gather and interpret information from the world around us?
Perception
Kendra is a sales representative for a pharmaceuticals company and meets with doctors and other medical personnel daily to share information about the products her company has available. This is an example of which type of promotion?
Personal selling
The____says that all transporting, sorting, and product handling activities of a business and a whole channel system should be coordinated as one system that seeks to minimize the cost of distribution for a given customer service level
Physical distribution concept
______ advertising tries to develop primary demand for a product category rather than demand for a specific brand.
Pioneering
Which of the following methods of transportation are primarily used to move oil and natural gas?
Pipelines
What part of the marketing mix concerns the distribution channels used to get a product to the consumer?
Place
Which factor in the marketing mix is usually the most difficult to adjust?
Place
_______________ decisions often have long-run effects and are harder to change than Price decisions.
Place
As the text explains, which video game is an example of augmented reality?
Pokemon Go
What are some advantages intermediaries enjoy in the battle of the brands? (Check all that apply.)
Preferred shelf positioning Better access to low-cost, reliable supply sources
The characteristic of a person being defined as being a laggard include
Preferring to do things the way they have been done in the past
A memorized presentation that is not adapted to each individual customer is called ________?
Prepared Sales Presentation
Product development
Present markets and New products
Market penetration
Present markets and Present products
The amount of something that is charged for something of value is______
Price
When consumers consider heterogeneous shopping products, what is the least important factor they take into consideration?
Price
______ data is information specifically collected to solve a current problem.
Primary
What do manufactures use to store a large volume of goods?
Private Warehouse
What is marketing research?
Procedures that develop and analyze new information about a market
Discrepancies of Quantity
Producers prefer to produce and sell in large quantities. Consumers prefer to buy and consume in small quantities.
Discrepancies of Assortment
Producers specialize in producing a narrow assortment of goods and services. Consumers need a broad assortment.
4 Ps
Product Place Promotion Price
__describes the stages a really new product idea goes through from beginning to end
Product Life Cycle
Which of the following is used to describe the total amount of individual products in a product line?
Product line length
Which of the following positions oversee product promotion and often take over the jobs formerly handled by advertising managers? (Check all that apply.)
Product manager Brand manager
Which of the following occur in the market growth stage of the product life cycle? (Check all that apply.)
Product variety increases. Innovators profit. New competitors enter. Sales grow fast.
mass marketing
Production-oriented manager sees everyone as basically similar and practices
Red Kite Creative designs websites and offers online marketing advice to its clients. What type of business product does Red Kite offer?
Professional services
Which of the following is NOT a pricing policy?
Profit oriented
During the new-product development process, a company should continually evaluate which two of the following? (Check all that apply.)
Profitability Return on investment
What type of wholesalers change their marketing approaches and focus on their channels?
Progressive
______ wholesalers need to be efficient, but that does mean that their costs will be low.
Progressive
What are some common responsibilities of selling agents? (Check all that apply.)
Promoting goods Selling goods
Blending promotion includes all of the following except?
Promotion
Kent posts events and activities on the store's Facebook page as a way to draw in customers. Which of the 4 Ps is Kent using?
Promotion
The act of communicating information about a product to potential buyers in an attempt to influence their attitudes and behaviors, otherwise known as ______, is an important part of a firm's marketing mix.
Promotion
What are the benefits of family branding? (Check all that apply.)
Promotion costs for individual products is reduced. Positive feelings attached to a particular product may boost other products in the family.
Match the example of a packaging decision and its opportunity to add value.
Promotion- Kellogg's nutrition label helps consumers decide which cereal to buy. Protection- Electronic tags on the GAP's clothing set off alarms if not removed. Enhancement- McDonald's food containers are made from recycled materials.
Following all the leads in the target market to identify potential customers is called what?
Prospecting
Following all the leads in the target market to identify potential customers is called?
Prospecting
Which of the following is not a personal selling task?
Prospecting
A _____ is an early sample of model built to test a concept
Prototype
An early sample or model built to test a concept is a
Prototype
Positioning Statement
Provides Direction for Marketing Strategy
What position is responsible for handling communication with non-customers, including stockholders and the government?
Public Relations
When Orla Oil company was responsible for a major oil spill, it sent a representative to speak to the media to explain what had occurred and what the company was doing to clean up the spill. The representative also stressed that Orla Oil valued the environment and was truly sorry for what had occurred. What type of communication does this demonstrate?
Public relations
____ is an unpaid from a non-personal presentation of ideas, goods, or services.
Publicity
A company's buying specialists, are generally referred to as ___ managers.
Purchasing
Buying specialist for a company are called
Purchasing managers
What type of market competition is characterized by having competitors that offer products that are seen by potential customers as being a substitute for another company's product?
Pure Competition
Which of the following is NOT included in a model of customer-initiated interactive
Pushing
extensive problem solving
Put much effort into deciding how to satisfy a need—as is likely for a completely new purchase or to satisfy an important need.
Product-Market Screening Criteria
Qualitative Criteria & Quantitative Criteria
Family branding makes sense when the products are similar in which two of the following ways? (Check all that apply.)
Quality Type
Which of the following seeks structured responses that can be summarized in percentages, averages, and other statistics?
Quantitative Research
Which of the following statements is accurate regarding quantitative research?
Quantitative research seeks structured responses that can be summarized in numbers.
What are the two basic methods for obtaining customer information?
Questioning Observing
Marketing managers can use which of the following in order to acquire information about a market?
Questionnaires Observations Interviews Experiments
Music Unlimited manages all of the music items for Klein's retail stores. Klein's relies on Music Unlimited to decide which titles to place in the local retail stores and applies that knowledge in other stores. What type of wholesaler is Music Unlimited?
Rack jobber
Which form of transportation is still the workhorse of the U.S.?
Railroads
Unprocessed expense items that receive little handling before progressing to the next production stage are ______.
Raw materials
What are two characteristics of a manufacturers' agent? (Check all that apply.)
Receive commissions Sell goods from different manufacturers
Which of the following are levels of brand familiarity? (Check all that apply.)
Recognition Insistence Rejection Nonrecognition Preference
In the past, each country in Europe had it's own rules on trade and regulation. The creation of the European Union(EU) lead to:
Reduction in conflicting laws, taxes, and other obstacles
Accumulating, bulk breaking, sorting, and assorting are the four types of
Regrouping activities
Which of the following terms describes how a company's product compares to a similar product offered by a competitor?
Relative quality
Qualifying Dimensions
Relevant to including a customer type in a product-market and Help identify "core benefits"
What type of advertising simply tries to keep the product's name before the public?
Reminder
A request to buy something
Requisition
To comply with centralized controls on who can make purchases, a person who needto purchase something usually completes a(n) __.
Requisition
Marketing _____ involves the procedures that develop and analyze new information about a market
Research
A plan that specifies what information will be obtained and how to be sure no misunderstandings occur later is a ?
Research Proposal
Which two of the following are potential advantages of performing concept tests online? (Check all that apply.)
Research and testing costs are lower. Feedback is immediate.
What are some benefits of distributing questionnaires via mail or e-mail? (Check all that apply.)
Respondents can answer questions on their own time. Respondents can answer anonymously. Respondents may be more forthcoming with private details
What is the term for the percentage of people contacted who complete a questionnaire?
Response rate
Which of the following is true about retailer strategies?
Retailers have an almost unlimited number of ways to alert their offerings to appeal to a larger market.
Jake's pastry shop sells baked goods and coffee to customers. What process is the company engaged in during these activities?
Retailing
What is the name for the collection of activities in which businesses sell things to buyers?
Retailing
What are the channels used to retrieve products that customers no longer want?
Reverse channels
What needs are NOT associated with company's needs?
Risk
Which component does not fall under blending promotion?
Sales Promotion
The specific sales or profit objective a salesperson is expected to achieve is known as:
Sales Quota
A geographic area that is the responsibility of one salesperson or several working together is known as _____?
Sales Territory
A geographic area that is the responsibility of one salesperson or several working together?
Sales Territory
Most of Stardust Co.'s competitors have left the market because of declining sales. Stardust has introduced new products, but has continued producing the old products because a small group of loyal customers still use them. This product-market is in which product life cycle stage?
Sales decline
Which of the following types of information are provided for each code in the North American Industry Classification System (NAICS)? (Check all that apply.)
Sales volumes The number of employees The number of establishments
What is one big advantage of using an inside sales force as opposed to an external sales force?
Saves time
What is the name for merchandisers that carry any goods that they think they can sell profitably?
Scrambled
What is one of the five steps in the new product development process?
Screening
What type of discounts are offered to encourage buyers ti buy earlier than present demand requires?
Seasonal Discounts
What name is given to information that has already been collected or published?
Secondary data
What channel system would be best for a company to select to avoid selling to wholesalers and retailers that have a poor credit rating?
Selective
Demand for a company's own brand is called?
Selective Demand
______, is a method used by companies to increase the demand of their brand:
Selective Demand
Which of the following represent why consumers may feel differently towards advertisements?
Selective Exposure
Order getters are used by producers to do all the following except:
Sell to the regular or established customers
What is the term for the type of agents who assume all marketing responsibilities for manufacturers?
Selling agents
Which of the following statements are true about U.S. service firms in comparison with manufacturers? (Check all that apply.)
Service firms are more spread out geographically than manufacturers. There are many more service firms than manufacturers.
Micro-marketing
Set of activities performed by individual organizations
Which of the following would be a convenience product for most consumers?
Shampoo
water
Ship it overseas, but slowly
When the marketing manager thinks that the real problem has begun to surface, _______ is useful
Situational Analysis
The federal Trade Commission(FTC) says products is "new" only ___ months
Six
Which pricing policy would best be used if a firm expects few substitutes in the market, with the goal to maximize profit in the early stages?
Skimming price policy
What are benefits of online focus groups? (Check all that apply.)
Smaller likelihood of one person controlling the discussion Participants feel at liberty to express themselves fully The honesty of participants
What is the final step of the research process?
Solving the problem
Selective Market Exposure
Some—a few in each geographic area number of outlets
____mean separating products into grades and qualities desired by different target markets?
Sorting
What are the four types of regrouping activities? (Check all that apply.)
Sorting Accumulating Bulk-breaking Assorting
Production Sector
Specialization and division of labor result in heterogeneous supply capabilities
A type of limited-line store that offers one type of product is known as which type of retailer?
Specialty shop
Anna's Antique Emporium is a small business that sells only mid-century antique furniture. Which type of store is this?
Specialty shop
The convenience product group includes three classes. Match the class with the shopping behavior. Instructions
Staple- Doris buys Kellogg's Corn Flakes on her routine shopping schedule. Impulse- Doris is buying her groceries and notices a new flavor breath mint at the checkout counter. Emergency- Doris is on her way home from the supermarket and buys an umbrella because it started to rain.
Convenience Products
Staples, Impulse, and Emergency
This step should consider how the strategy for a new product will hold up over the product life cycle as well as evaluate the new ideas with S.W.O.T. Analysis and product market screening
Step 2: screening
_____ is the marketing function of holding goods so they are available when they are needed
Storing
Which of the following occur in the sales decline stage of the product life cycle? (Check all that apply.)
Strong brands can make profits. Price competition becomes vigorous. New products replace old.
What type of pricing is being used when customers pay on a periodic basis for access to a product?
Subscription
As a market moves into the market maturity stage, which of the following might provide a firm in that market with sources of competitive advantage? (Check all that apply.)
Successful promotion strategies A somewhat better product Lower production costs
These people help the order oriented salespeople.
Supporting sales people
_________ help the order-oriented salespeople, but they don't try to get orders themselves.
Supporting salespeople
Which of the following does not represent an economic need?
Surroundings
Which answer below does not make up cultural and social environment?
Sustainability
True or false: A poor management decision about personal selling expenses can lead to lost sales.
T
True or false: Customer service is important to both business customers and final consumers.
T
True or false: Even if the customer simply changes his or her mind about a purchase, the customer service rep must figure out a way to make the customer happy.
T
True or false: One of the challenges of hiring the correct number and type of salespeople is that every sales job is different.
T
True or false: Personal selling and customer service are important in both domestic and international markets.
T
What type of objectives sets a specific level of profit as an objective?
Target Return
Which pricing objective sets a specific level of profit as an objective?
Target return objectives
Paula's Projection Screens Inc. is trying to sell its product to a chain of movie theaters. This requires the sales rep, an engineer, and a quality control manager to attend meetings with the movie theater staff to provide answers to their questions. This is an example of _____.
Team Selling
The supporting sales position that is more skilled in showing the details of their products than in trying to persuade customers to buy it are known as?
Technical Specialists
Banner ads and pop-up ads with writing, illustrations, and perhaps video are most likely to be found in what media?
The Internet
Which two of the following statements about market exposure are true? (Check all that apply.
The amount of market exposure needed for a product to be successful differs from product to product. Ideal market exposure makes just enough of a product available to satisfy the consumers' needs.
What is the outcome for marketing managers who acquire data from a sample that is not representative of the population?
The data might be inaccurate
What is a drawback of being a partner in a joint venture?
The difficulty of getting out of it due to contractual and financial obligations
Which of the following are benefits to conducting a personal interview survey? (Check all that apply.)
The interviewer can explain complicated directions. It can take place at locations where people shop.
Which three of the following need to be considered when deciding whether or not to offer a warranty? (Check all that apply.)
The legal environment Competitors' offerings Customer needs
Who does most of the marketing strategy planning when licensing a process in a foreign market?
The licensee
Which of the following is often the best way for a marketing manager to observe and understand a customer's experience?
The marketing manager should become a customer.
What are four common reasons why new products may fail? (Check all that apply.)
The marketing plan for the product is weak. The benefit offered is not unique. A company underestimates the competition. The product is not designed well.
Which of the following statements about NAICS code breakdowns is correct?
The more numbers in a code, the more specific the industry classification.
What is the best definition of place in marketing strategy?
The process of moving products from sellers to buyers
Which of the following statements are true about the U.S. industrial market? (Check all that apply.)
The rate of growth in U.S. manufacturing output is less than in other countries with cheaper labor. U.S. manufacturing output is higher than at any other time in the nation's history.
What are three disadvantages of focus group interviews? (Check all that apply.)
The researcher's perspective may influence results. It's difficult to measure results objectively. People who participate may not be typical of the intended market.
Business product classes are based on which of the following? (Check all that apply.)
The way buyers think about the products The way buyers will use the products
What are the consumer product classes based on?
The way people think about products
Why are stores such as Toys R Us and IKEA known as category killers?
Their focus on certain products hurts their competitors.
Opinions (Lifestyle Dimensions)
Themselves, Business, Products, Social, issues, Economics, Future, Politics, Education, and Culture
Which of the following are likely reasons why respondents might not share their thoughts with an interviewer during a personal interview survey for market research? (Check all that apply.)
They are afraid they won't impress the interviewer. They come from a culture where sharing private information with strangers is not common. They think their responses are embarrassing
Which of the following are true of staples? (Check all that apply.)
They are bought frequently. They are bought without much consideration.
Which one of the following is a characteristic of a fixed response questionnaire?
They are easy to analyze.
Which of the following statements about capital items are true? (Check all that apply.)
They are paid for upon purchase but depreciated over many years. They are generally expensive items.
Why do some customers say they dislike supercenters?
They are too crowded.
Which of the following are true of professional services? (Check all that apply.)
They are typically expense items. They support a firm's operations.
What statement best describes the early majority groups?
They avoid risk and wait to consider a new idea until other have tried it and liked it
Name one advantage of limited-line retailers.
They can focus on specific customers.
What is one advantage that truck wholesalers offer?
They can quickly provide goods before they spoil.
Which of the following is a common mistake marketing managers tend to make during the first step of the marketing research process?
They confuse problems with symptoms.
Why did general stores decline after the U.S. Civil War?
They did not offer variety within product lines.
What is the status of smaller retail stores in the United States?
They do less business collectively than the larger stores.
What is a characteristic of merchant wholesalers?
They focus on offering specific types of goods.
Which of the following are true of trademarks? (Check all that apply.)
They must be legally registered. They can be symbols, words, or marks.
Which two of the following statements about online retailers are true? (Check all that apply.)
They offer a wide variety of products. They offer low prices to customers who compare prices.
Which of the following is a reason that some wholesalers have increased operating costs?
They provide specialized attention to some consumers.
How do supermarkets cut costs?
They require customers to serve themselves.
The AIDA model consists of four promotional jobs except:
To handle promotion
What is the purpose of branding?
To identify a product
Why does Amazon.com recommend similar shoes for people who have purchased shoes on its site?
To provide personalized service to consumers
Why may a firm develop a mission statement?
To se out the organization's basic purpose for being.
What is the role of the marketing manager after solving a marketing problem?
To select a target market
In an administered channel system, what types of agreements might channel members make? (Check all that apply.)
To share inventory information To work together on promotions
Why do some companies use standard markup percent?
To simplify the pricing process
What is the one key trait found in companies that are successful at developing new goods and services?
Top-management support
In selecting a PD system, the_______ involves evaluating each possible PD system and identifying all of the costs of each alternative.
Total cost approach
_________ customers' behavior may provide companies with ideas for new products, added features or additional services.
Tracking
A______ is a price reduction given for used products when similar new products are bought.
Trade-In Allowances
When channel members do not share a product-market commitment, they are involved in what type of channel system?
Traditional
Which channel system has the least amount of cooperation between channel members?
Traditional
Lawton Convenience stores orders its chips and salty snacks from Harrison Delivery. Harrison Delivery stocks its goods in its own trucks that make the deliveries, which makes it what type of wholesaler?
Truck wholesaler
True or false: A major drawback of using questionnaires to conduct quantitative research is the low response rate.
True
True or false: A service is typically done in person once the customer has agreed to pay for it.
True
True or false: A situation analysis allows both the marketing manager and researcher to agree upon and understand what the problem area is.
True
True or false: A website allows small firms with narrow specializations to sell directly to customers across the globe.
True
True or false: An MIS makes it easier for marketing managers to find information.
True
True or false: Artificial intelligence refers to having machines that operate like humans concerning learning and decision-making situations.
True
True or false: Better protective packaging can reduce costs by cutting down on breakage, spillage, and theft.
True
True or false: Click-through rates are higher when there is video content in the advertisement.
True
True or false: Companies that track customer behavior through an app might use the data to introduce a new product feature.
True
True or false: Currently, online retail sales are growing at a pace of about 15% a year.
True
True or false: Department stores are usually strong in customer services.
True
True or false: Direct distribution of a product allows a company to supervise the entire marketing mix.
True
True or false: Even if a manager's estimate of a demand curve is not exact, there generally exists a profitable range surrounding the price that would maximize profit.
True
True or false: Findings attained from a focus group session can be affected by the researcher's perspective.
True
True or false: If people begin using a brand name to generally describe the type of product, the owner of the brand name will lose all rights to it.
True
True or false: In emerging markets, online sales are almost nonexistent
True
True or false: In emerging markets, online sales are almost nonexistent.
True
True or false: Licensing is a fairly low-risk approach for a domestic firm to enter foreign markets because the foreign licensee takes most of the risk.
True
True or false: Marketing managers in small companies can learn a lot simply by listening to what the customers have to say.
True
True or false: Markups are related to selling price mostly for convenience.
True
True or false: Product advertising tries to sell goods or services.
True
True or false: Qualitative research provides the advantage of depth in question responses.
True
True or false: Shoppers in the United States create significantly more trash per person than in any other country.
True
True or false: Statistics show that about four out of every five American adults owns a smartphone.
True
True or false: The scientific method requires an organized method of research.
True
True or false: Uneven results and a waste of money are possible drawbacks of advertising and sales promotion.
True
True or false: When a company serves multiple target markets, it may choose to sell direct to consumers and also indirectly through intermediaries.
True
True or false: When companies decide to move into an international market, they must adapt their strategy to meet local needs.
True
True or false: When demand for a brand is strong enough that the market price can be high, there is a favorable market for successful branding
True
Which of the following characteristics describes public warehouses?
Unit cost-low Charges are made only for space needed
Which of the following customers are examples of government units?
United States Marine Corps New York Fire Department Denver Public Schools
Which of the following are names of consumer product classes? (Check all that apply.)
Unsought Specialty Shopping Convenience
To protect themselves from the risk of disruption in deliveries because of problems at a single supplier, many buying organizations will do which of the following? (Check all that apply.)
Use more than one supplier Develop relationship-specific adaptations
Which of the following actions are recommended for suppliers wishing to gain government business? (Check all that apply.)
Using target marketing to match appropriate marketing mixes with bid procedures Checking for available contracts on websites where they are posted by the government Learning the bidding methods of the government units they wish to sell to
Which of the following is not a source or primary and secondary data?
Validity
_____ refers to the extent to which data measure what they are intended to measure.
Validity
What is setting a fair price level for a marketing mix that really gives the target market superior customer value?
Value Pricing
Tyler's company collects customer data in many ways, from the number of clicks on their website to the hundreds of retweets of their marketing messages, as well as, focus groups. This is an example of which of the Four Vs?
Variety
Which of the Four Vs refers to the numerous ways a company can collect data?
Variety
From one country to another, the techniques used for personal selling and customer service ______.
Vary
Kelly is a marketing manager and during her last discussion with the IT department, she said she would like to identify when a customer showed interest in an online product and send a coupon or discount offer to that customer within 20 seconds of their view. Which of the Four Vs does Kelly want to implement?
Velocity
What is a formal rating of suppliers on all relevant areas of performances and considers all the factors relevant to a purchase decision.
Vendor analysis
Maria decided not to use the data found in the report because she couldn't verify the source. Which of the Four Vs helped Maria make this decision?
Veracity
Which of the Four Vs denotes the quality of the data?
Veracity
______ conflicts occur between firms at different levels in the channel of distribution.
Vertical
Corporate channel systems can be created when a firm takes over other firms at various levels of channel activity. For example, a large coffee company might acquire and then run a group of smaller coffee shops. This is known as which of the following?
Vertical integration
Corporate channel systems may develop by _____, which is acquiring firms at different levels of channel activity?
Vertical integration
What is the term for retailers, such as Costco and Sam's Club, that offer a limited number of items in their simple yet large stores?
Warehouse club
What is the name for the theory that argues that conventional stores are threatened by low-end stores until they, too, become more conventional?
Wheel of retailing
Which Federal Antimonopoly law focuses on deceptive practices?
Wheeler-Lea Amendment(1938)
Which of the following are situations that may call for a reverse channel? (Check all that apply.)
When a customer's car has a safety recall on its brake pads When a customer wants to return a jacket When a customer's coffee maker is under warranty and needs to be repaired When a customer wants to recycle an old computer
Which of the following conditions help enable successful branding? (Check all that apply.)
When customers can easily identify a product by brand or trademark When it is easy to maintain product quality that is the best value for the price When customer need is great enough to make the branding effort profitable
In which two instances do ethical dilemmas tend to occur in multichannel distribution systems? (Check all that apply.)
When customers' Place needs change When there are shifts in the competition
When might management contracting be an especially recommended market entry strategy? (Check all that apply.)
When the foreign market has a developing economy When the foreign market has an unstable government
Which of the following is one of the fundamental Place decisions a producer must make?
Whether or not to outsource distribution or handle it in-house
What is the term for companies that sell to other companies, but not directly to consumers?
Wholesalers
The regrouping activity of assorting is usually done by which two groups? (Check all that apply.)
Wholesalers Retailers
Intermediaries are
Wholesalers and Retailers
Smith Electrical Supplies sells primarily to electrical contractors and manufacturing firms with no sales to consumers. What type of function is Smith Electrical Supply practicing?
Wholesaling
Activities (Lifestyle Dimensions)
Work, Vacation, Surfing web, Hobbies, Entertainment, Shopping, Social events, Club membership, and Sports
Which of the following products are examples of tangible goods? (Check all that apply.)
Wrangler jeans Rolling Stone magazines Ford F150 trucks
____mean making an average freight charge to all buyers within specific geographic areas
Zone Pricing
Which of the following helps customers identify a trusted product in the store without needing to evaluate it and similar products every time they go shopping?
a brand name
Personal selling is often ______.
a company's largest single operating expense
The Federal Trade Commission considers bait pricing _____.
a deceptive act
Intelligent agent
a device that observes an environment and acts to achieve a goal.
Producers tend to concentrate on making one product---not an entire line of related products. The end-consumer generally wants to purchase more than that one product that the producer specializes in creating. This situation is referred to as ______.
a discrepancy of assortment
target market
a fairly homogeneous (similar) group of customers to whom a company wishes to appeal.
Target market
a fairly homogeneous (similar) group of customers to whom a company wishes toappeal.
Dissonance
a feeling of uncertainty about whether the correct decision was made.
corporate chain
a firm that owns and manages more than one store and often it's many.
Competitive rivals
a firm's closest competitors.
Social responsibility
a firm's obligation to improve its positive effects on society and reduce its negative effects.
Market
a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods and/or services—that is, ways of satisfying those needs.
If the marketing manager of a bakery says, "I think customers will prefer our new whole wheat bread recipe. Let's make up a batch of the bread and test it compared to our current recipe. If more than half the customers prefer it, we will change to the new recipe." It sounds like this manager has developed and plans to test ______.
a hypothesis
The owner of a restaurant decides to prepare a dozen steaks for the Friday evening crowd based on the fact that he sold 12 steaks last Friday and most of the customers were regulars. This is an example of ______.
a hypothesis
Johnson & Johnson wants to sell its health care products in a new international market. The firm is looking for a foreign partner to work closely with on marketing and to share investment costs. Based on this situation, it is clear that Johnson & Johnson's strategy to enter the market is ______.
a joint venture
When domestic firms enter into partnerships with foreign firms, it is called ______.
a joint venture
Foreign Corrupt Practices Act
a law passed by the U.S. Congress in 1977 that prohibits U.S. firms from paying bribes to foreign officials.
Generic market
a market with broadly similar needs—and sellers offering various and often diverse ways of satisfying those needs.
Product-market
a market with very similar needs—and sellers offering various close substitute ways of satisfying those needs.
Sustainable competitive advantage
a marketing mix that customers see as better than a competitor's mix and cannot be easily copied.
Target marketing
a marketing mix that is tailored to fit some specific target customers.
Sample (Data Interpretation)
a part of the relevant population.
Belief
a person's opinion about something.
Attitude
a person's point of view toward something.
Customer service
a personal communication between a seller and a customer who wants the seller to resolve a problem with a purchase.
Predictive analytics
a process used to analyze data to make predictions about unknown future events.
Market segment
a relatively homogeneous group of customers who will respond to a marketing mix in a similar way.
Requisition
a request to buy something.
Straight rebuy
a routine repurchase that may have been made many times before.
A firm should never skip steps in the new-product development process because ______.
a single misstep or oversight could cause the product to fail.
An informal study of what information is already available in the problem area is called
a situation analysis.
Drive
a strong stimulus that encourages action to reduce a need.
Drives
a strong stimulus that encourages action to reduce a need.
marketing strategy
a target market and a related marketing mix
Sales era
a time when a company emphasizes selling because of increased competition.
Production era
a time when a company focuses on production of a few specific products - perhaps because few of these products are available in the market
Marketing department era
a time when all marketing activities are brought under the control of one department to improve short-run policy planning and to try to integrate the firm's activities
Simple trade era
a time when families traded or sold their "surplus" output to local distributors
Marketing company era
a time when, in addition to short-run marketing planning, marketing people develop long-range plans—sometimes five or more years ahead—and the whole company effort is guided by the marketing concept.
Market segmentation
a two-step process of: (1) naming broad product-markets and (2) segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.
Brand name
a word, letter, or a group of words or letters.
Purchasing specifications
a written or electronic description of what a firm wants to buy.
Marketing plan
a written statement of a marketing strategy and the time-related details for carrying out the strategy.
Capital items that last for only a short period and are used in production or administrative tasks are known as ______.
accessories
Collecting products from many small producers is a regrouping activity called ______.
accumulating
Javier Sugar Company collects crops from small sugarcane plantations throughout the Jamaican countryside. The company then exports the large quantity of crops to sugar manufacturers internationally. This is an example of which regrouping activity?
accumulating
Jose Colombian Coffee Co. collects its coffee from small individual farms in the mountains. This is an example of __________.
accumulating
An effective advertisement will not simply cause prospective customers to think about purchasing a product but will also motivate the customer to ______.
action
Ronco manufactures kitchen gadgets that it promotes through television infomercials. The presentations conclude by asking customers to call a phone number or visit a website to place an order. Ronco wants to stir the customer to ______.
action
Channel systems where the channel members informally agree to cooperate with each other are called ______.
administered channel systems
Jeffrey is the ______ manager for an automobile repair facility. Recently, he developed a popular commercial that is running on the local television channels.
advertising
The ______ manager is responsible for overseeing a company's mass-selling effort in television, newspapers, magazines, and other media.
advertising
Advertising managers sometimes hire an outside team of specialists to plan and execute an advertising campaign. These teams are called ______.
advertising agencies
Most firms spend less money on ______ than on ______.
advertising; sales promotion
Cultural and social environment
affects how and why people live and behave as they do.
Economic environment
affects the way firms—and the whole economy—use resources.
An order taker's job begins ______.
after an order getter has secured a customer's interest in a product.
Wholesalers who do not possess products themselves but help others with their retail transactions are known as________ wholesalers.
agent
Negotiated contract buying
agreeing to a contract that allows for changes in the purchase arrangements.
Market research firms or specialists are sometimes called in by companies to
aid in the research process
Segmenters
aim at one or more homogeneous segments and try to develop a different marketing mix for each segment.
Buying center
all the people who participate in or influence a purchase.
When Breyer's Ice Cream offered Safeway supermarkets a price discount to encourage them to include Breyer's in Safeway's local advertising, Breyer's was offering ______.
an advertising allowance
Segmenting
an aggregating process that clusters people with similar needs into a market segment
S.W.O.T. analysis
an aid which includes and lists the firm's strengths and weaknesses and its opportunities and threats.
Customer relationship management (CRM)
an approach in which a seller fine-tunes the marketing effort with information from a customer database.
Positioning
an approach that refers to how customers think about proposed and/or present brands in a market.
A data warehouse can be described as _____.
an electronic library
Nationalism
an emphasis on a country's interests before everything else.
Competitor analysis
an organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies.
Expectation
an outcome or event that a person anticipates or looks forward to.
A marketing manager at a major coffee house would like the bold roast coffee to receive highest marks from the survey she is conducting. The results indicate that the milder coffee is actually preferred, but she decides to withhold this information. Her decision is an example of ______.
an unethical action
Psychographics
analysis of a person's day-to-day pattern of living as expressed in that person's Activities, Interests, and Opinions.
Physical distribution (PD)
another common name for logistics.
Business and organizational customers
any buyers who buy for resale or to produce other goods and services.
Advertising
any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor
Channel of distribution
any series of firms (or individuals) that participate in the flow of products from producer to final user or consumer.
Publicity
any unpaid form of nonpersonal presentation of ideas, goods, or services
Clustering techniques
approaches used to try to find similar patterns within sets of data.
To share in routine government purchases, a company must be on the_____ supplier list and agree to a price that will remain the same for a set period of time.
approved
Wants
are "needs" that are learned during a person's life.
Public warehouses
are independent storing facilities. They can provide all the services that a company's own warehouse can provide
Heterogeneous shopping products
are items the customer sees as different and wants to inspect for quality and suitability
Private warehouses
are storing facilities owned or leased by companies for their own use.
SOme companies use data and ___________ intelligence to support continuous improvement.
artificial
When Jen walks into her apartment after work, she says "Alexa, turn on the lights." In response, her lights are turned on. Jen then says, "Alexa, thank you" to which she hears a response "You're welcome." Alexa is a small round object that sits on Jen's kitchen counter. Alexa is an example of _____.
artificial intelligence
Economies of scale
as a company produces larger numbers of a particular product, the cost of each unit of the product goes down.
A brand can be a company ______, so it is important to make sure that the brand name does not become public property.
asset
Amanda's Hair Salon offers a range of beauty products, cosmetics and vitamin. This is an example of_________
assorting
A product ______ is made up of all of the various products that a company sells.
assortment
Kent's Snack Foods sells tortilla chips, potato chips, pretzels, and nuts. All of these products make up the product ____ of the company
assortment
Promotion involves telling customers about the right product available at the right place and _____.
at the right price
When a marketing manager pushes a product through a channel, he or she ______.
attempts to sell an entire marketing mix to possible channel members
Getting ______ is an ad's first job.
attention
It is critical that marketers capture customers' ______ in order to differentiate their products from the products of competitors.
attention
Nike purchases sponsored advertising links from Google so their message appears on the side of the first page of results when a customer uses the search term "running shoe." Nike is attempting to capture the customer's ______.
attention
Products that experience quick shifts in supply and demand, such as livestock, are often sold through ______ companies.
auction
There are some apps on the market that contain computer-generated images and sound which are placed into the user's physical words. These apps use ______ (AR) technology.
augmented reality
Dividing the total fixed cost by the related quantity equals the ______ fixed cost (per unit).
average
Dividing the total variable cost by the related quantity equals the ______ cost (per unit).
average variable
Adding a reasonable markup to the average cost of a product is called ______.
average-cost pricing
When using observation to collect data, it is important for the researcher to ______.
avoid influencing the subject's behavior
Extremely aggressive or dishonest ____-pricing advertising can be considered a deceptive act.
bait
A retail store advertises a laptop with an AMD Dual-Core C-50 processor for $325. Once bargain hunters come to the store, salespeople point out the disadvantages of the low-priced laptop and try to convince them to trade up to a better, and more expensive, unit with an Intel Core i5-480M processor. This is an example of ______.
bait pricing
Setting some very low prices to attract customers, but trying to sell more expensive models or brands to the customer in the store is called _____.
bait pricing
On the Internet, one type of advertisement that typically includes writing, illustrations, and possibly a video that runs across the top or down the side of the page is called a(n) ______.
banner ad
Needs
basic forces that motivate a person to do something.
Needs
basic forces that motivate a person to do something.
Private and manufacturer brands compete for customer business in a struggle known as the ______.
battle of the brands
Risk taking
bearing the uncertainties that are part of the marketing process
Retargeting is also known as _____ retargeting.
behavioral
The Four Vs are used to understand the dimensions of _____.
big data
Physiological needs
biological needs—food, liquid, rest, and sex.
Marketing program
blends all of the firm's marketing plans into one "big" plan
When Thomas Crown discovered that his local grocery store was out of Charmin bathroom tissue, he made a special trip across town to a Walmart store just to get the Charmin brand. Thomas's level of brand familiarity with regard to Charmin is ______.
brand insistence
Short, simple and suggestive of the benefits describe a good ______.
brand name
The term iPod is an example of a(n) _____.
brand name
Which of the following occurs when a person is completely unfamiliar with a brand?
brand nonrecognition
Tina Wu got food poisoning after eating at Andy's Chicken House restaurant, and now she refuses to go back. This is an example of ______.
brand rejection
The use of particular names, words, or symbols to identify a product is referred to as ______.
branding
Dealer brands (private brands)
brands created by intermediaries.(the stores brand)
Manufacturer brands (national brands)
brands created by producers
Dividing the total fixed cost by the fixed cost contribution per unit equals ______ in units.
break-even point
The quantity where the firm's total cost just equals its total revenue is called the ______.
break-even point
Micah needs paper towels and stops at her local Walmart to pick some up. In this instance, Walmart is an example of a ____ store.
brick-and-mortar
When using NAICS codes, the first breakdown is based on a ______.
broad industry category
Workers known as ______ unite businesses offering goods with businesses purchasing goods.
brokers
A hardware store chain purchases garden supplies in large quantities and then distributes smaller quantities to individual stores. This is an example of____ ____.
bulk breaking
The regrouping activity that divides larger quantities into smaller quantities as products get closer to the final market is referred to as ______.
bulk-breaking
At the bakery where Jaxon works, large commercial mixers are used to mix ingredients for wedding cakes. These mixers are an example of a _____ product.
business
Products that are intended to be used in order to make other products are called ______ products.
business
Social media has lessened the influence that communications from marketing professionals have on
buyers
Consumers tend to research products before making an online purchase especially when the customer is _____.
buying an item for the first time
A customer journey map reveals the _______ for a product.
buying process
Purchasing managers
buying specialists for their employers.
Universal functions of marketing
buying, selling, transporting, storing, standardization and grading, financing, risk taking, and market information.
A product that can be used and depreciated over a long period is called a(n) ______ item.
capital
Some firms enlist a channel _____ to direct the activities of an entire channel.
captain
A key to making marketing research and an MIS that is useful in marketing strategy planning is _____.
careful communication and coordination with research experts
Learning
change in a person's thought processes caused by prior experience.
Promotion efforts need to ______ in order to accommodate various adopter groups.
change over time
Ideally, all members of a(n) ______ should have a shared-product commitment.
channel
The advertising manager asked his team if it was better to place their ad in local newspapers or national magazines. The manager is trying to determine the best message _____.
channel
A manager who helps direct the activities of a whole channel and tries to avoid or solve channel conflicts is known as a(n) ______.
channel captain
Different channels can serve different target markets. This avoids ______.
channel conflict
Any series of firms or individuals who participate in the flow of products from producer to final user is called a(n) _____.
channel of distribution
The number of people who click on an Internet ad divided by the number of people the ad is presented to is called the _____ rate.
click-through
North American Industry Classification System (NAICS) codes
codes used to identify groups of firms in similar lines of business.
combined target market
combining two or more sub-markets into one larger target market as a basis for one strategy.
Combined target market approach
combining two or more submarkets into one larger target market as a basis for one strategy.
During the ______ step of the new-product development process, a new product is finally placed on the market.
commercialization
When purchasing decisions are handled by a buying ______, the buyer typically does not have final authority.
committee
Mass selling
communicating with large numbers of customers at the same time.
The ____ process describes attempts by a source to send a message to a receiver.
communication
When a source attempts to transmit a message to a receiver, it is participating in the ______.
communication process
Quite some time after a new product has been introduced, advertising is likely to emphasize the item's specific features instead of its general product category. This type of advertising is called ______.
competitive
Setting prices on several products as a group is called ______ product pricing.
complementary
When Xbox sets a relatively low price on its game units to stimulate more demand for its games, it is implementing ______.
complementary product pricing
Brady Chips sells different computer chips that are used in all kinds of electrical products produced by various companies. For the manufacturers that buy from Brady, the computer chips are ______.
component parts
Expense items that are considered ______ are processed and integrated into a finished product.
components
Getting reactions from customers about how well a new product idea fits their needs is called ______.
concept testing
Jason participated in a focus group in which he was shown a new line of "healthy" soft drinks and tasted the product. He wrote down his reaction to how well he thought the soft drink tasted and whether or not he preferred it over his current soft drink. Jason is participating in _____.
concept testing
When dealing with top-level customers, particularly other businesses, order getters must sell ______.
concepts and ideas that solve a specific problem
Personal needs
concerned with an individual's need for personal satisfaction—unrelated to what others think or do.
Social needs
concerned with love, friendship, status, and esteem— things that involve a person's interaction with others.
Social needs
concerned with love, friendship, status, and esteem—things that involve a person's interaction with others.
Economic needs
concerned with making the best use of a consumer's time and money—as the consumer judges it.
Safety needs
concerned with protection and physical well-being.
Validity (Data Interpretation)
concerns the extent to which data measure what they are intended to measure.
A small manufacturing firm has just experienced a rapid drop in sales. The marketing manager thinks he knows what the problem is and carefully analyzes secondary data to verify his assumption. His next step should be to:
conduct informal discussions with outsiders, including intermediaries, to see if he has correctly defined the problem.
A(n) ____ interval is the range on either side of an estimate that is likely to contain the true value for the whole population.
confidence
Trust
confidence a person has in the promises or actions of another person, brand, or company.
Continuous improvement means that an organization strives to ______.
constantly make things better
Products that are intended to be purchased and used by the end user are called ______ products.
consumer
The Federal Fair Packaging and Labeling Act has a direct effect on the labeling of _____.
consumer goods
A(n) _____ is a group of customers who provide information on a continuing basis.
consumer panel
Jessica is a member of a group of consumers who do research for ACNielsen. Group members have ID cards and when they make a purchase, this card is scanned and purchase information goes directly to ACNielsen. These group members are part of a _____.
consumer panel
Celebrity endorsements often draw ethics complaints if ______.
consumers do not believe that the celebrity actually uses the product
An ongoing commitment to improving processes and products one step at a time is referred to as ______ improvement.
continuous
Outsource
contract with an outside firm to produce goods or services rather than to produce them internally.
In ______ channel systems, the channel members agree by contract to cooperate with each other.
contractual
Channel systems in which the channel members are officially bound to work with each other are called ______.
contractual channel systems
Even though consumers need ______ products, they are generally unwilling to spend much time shopping for them.
convenience
A _____ carries a limited stock of items and focuses on making things easy for their customers.
convenience store
Convenience store
convenience-oriented variation of the conventional limited-line food stores.
When people visit sites on the Internet, companies often place a tracking device called a ______ on their computers to collect information about them.
cookie
Good marketing research requires ______ to be sure that the research focuses on real problems.
cooperation between researchers and marketing managers
Marissa owns a Chichi's Chicken Restaurant franchise and is able to compete in her local market because the franchisor shares the cost of her advertising. This is an example of _____ advertising.
cooperative
Mason & Mason produces specialized barbecue grills and smokers that are sold at hardware stores. When the Midtown Hardware advertises Mason & Mason grills and smokers, it submits the costs for the ads to Mason & Mason, and they share the costs. Mason & Mason appears to be using ______.
cooperative advertising
Sometimes a producer will split the cost of advertising with other businesses that are selling its merchandise at wholesale or retail. This is called ______.
cooperative advertising
A salesperson typically ______.
coordinates the relationship between firm and customer
The basic message conveyed by text and illustrations in an advertisement is called ______.
copy thrust
A channel system in which the same owner owns the retailer, wholesaler, and producer is called (a)n ______ channel system.
corporate
In a(n) ______ channel system, a firm may play the role of producer, wholesaler, and retailer.
corporate
corporate channel systems
corporate ownership all along the channel
If a company runs deceptive advertising, it can be fined and required to run ______.
corrective advertising
Of the two basic approaches to setting prices, _____ is the most common.
cost-oriented
New retail approaches that succeed in one part of the world are often quickly adapted to other ___________.
countries
Sometimes the best way to observe a customer is for the marketing manager to become a
customer
Customer service reps play the role of ______.
customer advocates
Poor customer service reduces the firm's ______.
customer equity
The longer new-product development takes, the more likely it is that ______.
customer needs will change
A ______ rep works with customers to resolve problems that arise with a purchase.
customer service
A particular challenge for order getters in service industries is that ______.
customers cannot physically inspect a service, and must rely on the salesperson to provide evidence of the quality of the service offered
Brand insistence
customers insist on a firm's branded product and are willing to search for it.
The primary targets of a reminding objective are ______.
customers who already have positive attitudes about the firm or its products
Sears department stores has created a number of brands, including Diehard (for batteries), Craftsman (tools), and Kenmore (appliances). These types of brands are called ______ brands.
dealer
A computer program that makes it easier for a marketing manager to get and use information and turn the information into knowledge to make informed marketing strategy decisions is called a(n)
decision support system (DSS).
As the marketing manager at a very successful sports equipment company, Joe must make decisions about pricing and advertising. He often uses a computer program that provides suggestions about price levels and advertising media choices. This computer program is most likely a(n)
decision support system (DSS).
The number of wholesalers in the U.S. has ______ in the last 20 years.
declined
The most difficult step in the marketing research process is:
defining the problem
List the five steps in the marketing research process in order, beginning with the first step at the top of the list.
defining the problem analyzing the situation getting problem-specific data interpreting the data solving the problem
Setting an acceptable final consumer price and working backward to what a producer can charge is called ______ pricing.
demand-backward
A software manufacturing company set a suggested retail list price of $240.00 for its new data management software. From the suggested retail list price, the software company subtracted its usual chain of markups for wholesalers and retailers to obtain its own selling price of $102. This is an example of ______.
demand-backward pricing
Jenna likes to shop at Carson's because it is a big store that has a shoe department, home decor department, women's and men's clothing and more. Carson's is an example of a ______.
department store
Small companies:
depend on their salespeople or managers to conduct marketing research.
The demand for wood pulp depends partly on the demand for books. In this case, the demand for wood pulp is a(n) ______ demand.
derived
The difference between consumer products and business products is ______ demand.
derived
The sales of timber at the Duluth Timber Company have fallen since new home sales have declined. Duluth's demand for its timber is an example of ______ demand.
derived
When the demand for a business product results from the demand for a final consumer product, it is called ______ demand.
derived
In most cases, an advertisement should emphasize a particularly appealing quality of the product, which will provide something that the customer needs. This strategy is intended to spur the customer's ______.
desire
The advertising slogan for the FedEx delivery company, "When your package absolutely, positively has to get there overnight," is designed to arouse the customer's ______.
desire
In the ______ step of the new-product development process, the physical product is designed.
development
All four of the hardware stores in Trevor's community sell gas grills, but Hank's Hardware is the only store that delivers and installs the grills at no-charge. For this reason, Trevor buys his new grill at Hank's Hardware. By adding these services, the hardware store has _____ its offerings.
differentiated
The American consumer continues to increase their time spent on ______ media.
digital
A company produces clothing and household items and sells them to customers via the Internet. This company is using a(n) ______ distribution system.
direct
Big Wave Entertainment is a newly-opened computer game developer. Although the company creates quality computer games, no intermediary will agree to distribute their products. In order to get its games to consumers, Big Wave may need to create a(n) ______ distribution system.
direct
In order to quickly clear a backlog in its beauty products inventory, Skinsation Inc. trained its sales representatives to promote these products when interacting with customers. Since Skinsation sells products during at-home parties, it uses a(n) ______ distribution system and has the ability to directly train salespeople.
direct
In some cases, a producer finds that there are no appropriate intermediaries for a product. In other cases, a producer finds that they cannot work well with existing intermediaries. In these situations, a producer may need to develop a(n) ______ distribution system.
direct
TaxWizard is a tax preparation company with millions of customers worldwide. Because their services are typically produced in collaboration with customers, TaxWizard may be said to use a(n) ______ channel of distribution.
direct
IKEA is an international home products company that is headquartered in the Netherlands. The firm owns stores in the United States where it has complete control of marketing strategy planning. IKEA uses ______ to operate in the United States.
direct investment
Aloha Clothing is a manufacturer that promotes its products using Internet commercials and postcards that are mailed to target customers. Aloha Clothing uses _____ to reach its customers.
direct marketing
Direct communication between a seller and an individual customer using a promotion method other than face-to-face personal selling is called ______.
direct marketing
Personal selling
direct spoken communication between sellers and potential customers.
A high degree of control over the marketing mix and knowledge of the country's market are two advantages of ____ _____.
direct, investment
Jiffy Lube offers auto maintenance services, including everything from oil changes to preventive maintenance. To highlight its services, the company often mails discount coupons to customers. Jiffy Lube is using ______ marketing to generate business.
direct-response
Direct marketing communications intended to elicit immediate customer feedback are often called ______.
direct-response promotion
Barnum Manufacturing makes component parts for bicycles which it sells directly to companies that make the bicycles. This is an example of a ______ transaction.
direct-to-customer
Bose electronics sells its products through its own stores and website, which is known as a(n) ______ channel. Bose also offers its goods through intermediaries, such as various electronics stores. This is known as a(n) ______ channel.
direct; indirect
When companies use their competitors as sources of new-product ideas, they often ______.
disassemble competitors' products in order to reverse engineer their innovations
Molly is an avid tennis player and while she uses a Wilson racquet and wears Wilson tennis shoes, she is frustrated that the company doesn't make tennis skirts. This is an example of a(n) _____.
discrepancy of assortment
A manufacturer of plastic garbage bags makes hundreds of thousands of these products, while consumers usually buy one box of bags at a time. This is an example of ______.
discrepancy of quantity
For General Mills, it makes the most economical sense to produce large amounts of breakfast cereal each planning period. For the average consumer, it makes the most sense to buy a box of breakfast cereal when the consumer needs one. This difference is known as ______.
discrepancy of quantity
Really new product innovations tend to ______.
disrupt old ways of doing things
Apple has developed innovative protective packaging for its iPad2 tablet computer. This has led to fewer iPads being damaged in shipping which, in turn, will lower ______ costs.
distribution
Bulk-Breaking
dividing larger quantities into smaller quantities as products get closer to the final market.
One reason break-even analysis should be used cautiously is because most managers face ____ demand situations.
down-sloping
New products that require minor changes in customer behavior are called ______ innovations.
dynamically continuous
The introduction of camera technology to cell phones, which required users to learn relatively minor new behaviors, is an example of a(n) _____.
dynamically continuous innovation
Fossil targeted the promotion strategy of its new line of luxury watches toward ______ because they are likely to influence the opinions of other consumers, particularly through word of mouth.
early adopters
Leila has repeatedly had a good experience with Overland brand tires and buys them every time she needs a new set of tires for her car. Leila is buying Overland tires primarily because they have ______.
earned her trust
Response
effort to satisfy a drive.
In the case of individual sellers facing price competition, demand might be fairly ______.
elastic
Jane Zhang's car got stuck in a snow bank. Fortunately, there was a hardware store nearby where she bought a shovel—just like one she had at home. She was able to get herself unstuck. In this case, the shovel was a(n) ______ product.
emergency
Products that customers purchase in the moment when they have a great need are called ______ products.
emergency
Jose and Marta are both purchasing new televisions. Jose is hosting a Super Bowl party this afternoon and needs to replace the television that broke late last night, while Marta wants to carefully examine the different models available to find the one that is of the highest quality and best suits her needs, regardless of price. For Jose the television is a(n) ______ product, but for Marta it is a(n) ______ product.
emergency; heterogeneous shopping
The source uses ____ when it determines what to say and translates that message into words and symbols.
encoding
How much a brand is worth in terms of its market strength is known as brand _______.
equity
When Mallory asked her son what cell phone he would like for his 18th birthday, he replied, "An Apple iPhone of course." The familiarity of the Apple iPhone name proves its overall strength in the market. In other words, this phone has strong brand ______.
equity
Sason has packaged their aspirin medication so that it is similar to the packaging of Bayer aspirin. This could be considered an _________ dilemma.
ethical
Some customers complain that Frito-Lay's new potato chip packaging hides the fact that they are buying fewer chips for the same price. This type of issue requires marketing managers to make ______ choices regarding the packaging.
ethical
In marketing, research that investigates the actions of consumers in their natural habitat is called ______.
ethnographic research
Total quality management requires ______ to focus on quality and meeting customer needs.
everyone in the organization
E-commerce
exchanges between individuals or organizations—and activities that facilitate these exchanges—based on applications of information technology.
In order to maintain high prices, Luxe does not want its retailers to discount its watches. In addition, Luxe demands that its retailers offer only the highest level of service to its customers. The company only has one retail location in any city. Luxe uses a(n) ______ distribution system.
exclusive
When a company selects just one retailer in each geographic area to sell its product, it is using _____ distribution.
exclusive
When someone purchases a BestBurger franchise, they are guaranteed to be the only franchise within a 50-mile radius. This reflects a(n) _____ distribution strategy.
exclusive
______ distribution agreements can be affected by U.S. antimonopoly laws.
exclusive
Aziz, a marketing manager at a company, decides to sell his product through just one intermediary in Chicago. Based on this choice, it is clear that Aziz wants the product to have ______.
exclusive distribution
Selling through only one intermediary in a particular geographic area is known as ______.
exclusive distribution
A product is a(n) ______ item when its complete cost is treated as a business cost during the year it is bought.
expense
The total cost of a(n) _____ item is considered a business expense in the year it's purchased.
expense
Airfreight
expensive, but fast and growing
The Lanham Act of 1946 ______. (Check all that apply.)
explains how to protect marks describes what marks are protected
Agents who focus on retail transactions in different countries are known as _____ agents.
export or import
In addition to selling its products within the United States, a U.S. company decides to sell its products in Canada, Mexico and Costa Rica. It begins to ship surplus inventory to the other countries. What is the company's strategy to enter those foreign countries?
exporting
Selling some of what the firm produces to foreign markets is called ______.
exporting
The process of selling some of what a firm produces to a foreign market is called _____.
exporting
An MIS should collect ___ information from the marketplace and from competitors.
external
Some automobile manufacturers install digital sensors to track fuel and engine activity on automobiles sold to the public. This is an example of _____ data.
external
Buford Technologies distributes computer chips in many different countries. In the United States, the company's slogan is, "We're the best!" In some other countries, Buford is not allowed to use this slogan, because there is no proof that they are the best. This is the case because each country's government decides what types of ads are ______.
fair and appropriate
True or false: For small service firms, the buying process is typically more formal than it would be for a large manufacturer.
false
True or false: In the United States, there are few manufacturers compared to final consumers, but in other countries, the opposite is true.
false
True or false: To be used correctly, the marketing research process must be conducted in a linear fashion, without returning to any of the previous stages.
false
True or false: When a buying committee is responsible for deciding whether or not to drop a product line, it can be an advantage to the salesperson
false
True or false: When a buying committee is responsible for deciding whether or not to drop a product line, it can be an advantage to the salesperson.
false
How well a brand is recognized and accepted by people is called brand ______.
familiarity
A(n) _________ brand exists when a marketer applies one brand name to multiple products, for example if a company sold paper towels, dishwashing liquid, and snack crackers under the same brand name.
family
When multiple products are marketed under a single brand name, it is called a brand ______.
family
Gold Medal buys wheat to produce its Gold Medal brand flour. For Gold Medal, the wheat is a(n) ______.
farm product
Products that are grown are called ______.
farm products
Firms that sell ______-related products should expect short product life cycles.
fashion
Many customers called to complain about the NewTrend shoes they had purchased because the bottom of the shoe split in half within days of wearing them. This customer communication is an example of _____.
feedback
Collaborators
firms that facilitate or provide one or more of the marketing functions other than buying or selling.
Combiners
firms that try to increase the size of their target markets by combining two or more segments.
The sum of those costs that are fixed in total, regardless of how much is produced, is called the total ______.
fixed cost
The ______ contribution per unit is the assumed selling price per unit minus the variable cost per unit.
fixed-cost
Donna was invited to attend a meeting with six other people to review and discuss impressions of a firm's advertisements. After viewing them, the group answered open-ended questions. Donna was most likely part of a ______.
focus group
Vendor analysis
formal rating of suppliers on all relevant areas of performance.
Dunkin' Donuts is an example of a _____.
franchise operation
When items are purchased ______ by a government unit, suppliers typically must be on an approved supplier list.
frequently
Setting prices for a whole line of products is called ______.
full-line pricing
In order to use average-cost pricing, a marketing manager must make an estimate of _____.
future sales
Generation X
generation born immediately following the baby boom—from 1965 to 1977.
A product that does not have a brand name and is instead identified by its contents and the firm that made the product is called a ____ product.
generic
When Parul went to the store to buy cough medicine, she found Robitussin brand cough medicine and another brand in a plain package that was selling for $4 less than the Robitussin. The lower-priced cough medicine is an example of a _____.
genetic product
Hanes Clothing uses Michael Jordan as a celebrity endorser. Michael Jordan is still one of the world's most popular athletes even though he retired many years ago. The primary job that Michael Jordan does for Hanes is to ______.
get attention
A reverse channel is a way for a company to ______.
get back its products from customers
In general, product life cycles, as a whole, are ______.
getting shorter
Most nations limit the type of advertisements that companies may run, and there are rules regarding fairness and propriety. These matters are decided by the ______.
government
Command economy
government officials decide what and how much is to be produced and distributed by whom, when, to whom, and why
A phase-out strategy should be implemented _____.
gradually
A supermarket is a large store that specializes in selling _____.
groceries
Social class
group of people who have approximately equal social position as viewed by others in the society.
If a new product has a greater comparative advantage over products already on the market, sales will tend to _____.
grow more rapidly
Without _____ data, marketing managers may make the same errors as their predecessors.
hard
Artificial intelligence (AI)
having machines operate like humans with respect to learning and decision making.
The ultimate purpose of a marketing information system (MIS) is to
help marketing managers make informed choices
Branding may be less important for ______ (homogeneous/heterogeneous) shopping products.
heterogeneous
Customers want to review the quality and suitability of ______ shopping products because they see them as being different.
heterogeneous
Gallery Furniture uses knowledgeable sales people to provide customers with information about the quality of the furniture they are considering. Gallery knows that its target customers view quality and style as more important than price. For this target market, furniture is a(n) ______ shopping product.
heterogeneous
Micah needs a new dishwasher and goes to the store where she seeks out a sales assistant who can provide information about the different models available. The dishwasher is an example of a _____ shopping good.
heterogeneous
An online shopper is most likely to read reviews, study product features, and compare different models when shopping for a(n) ______.
heterogeneous shopping product
Kelly carefully shops for blue jeans comparing brand name, style, and quality. She views jeans as being a(n) ______.
heterogeneous shopping product
The cost of new-product development is typically ______ and the associated risk of failure is ______.
high; high
For almost 20 years Coca-Cola has used animated polar bears in its many advertising campaigns. The company hopes that the good feeling about the ads will stick, even if its details are forgotten. Coca-Cola uses the bears to ______.
hold interest
storing function
holding goods until customers need them
Chevron says "Cars love the Techron additive, and so should you." Chevron is trying to emphasize this product difference because most consumers see little differences between brands of gasoline. They see gasoline as a(n) ______ shopping product.
homogeneous
When shopping for ______ shopping products, people are primarily concerned with price because they see the products as being fundamentally the same.
homogeneous
Rajon Bondo wants to buy a new blender for his kitchen. He thinks all blenders are alike—so he went online to find an inexpensive one that met his needs. For Rajon, blenders are a(n) ______.
homogeneous shopping product
WeSellLower.com's advertising slogan is "TRY it over there, but BUY it here!". The Internet retailer is able to offer lower prices than traditional "brick-and-mortar" competitors because it has lower physical overhead costs. Its competitors with physical retail stores are not happy. This is an example of what type of channel conflict?
horizontal
______ arrangements, which competing channel members enter into, are considered illegal in the United States because they suppress market competition and negatively impact consumers.
horizontal
Perception
how one gathers and interprets information from the world around.
Brand familiarity
how well customers recognize and accept a company's brand.
Someone who uses the scientific method to introduce a new product would start by forming a(n)
hypotheses
An educated guess about the relationship between things or about what will happen in the future is called a(n) _____.
hypothesis
Making a product available widely enough to satisfy target customers' needs but not exceed them is called ______.
ideal market exposure
Products that customers buy because they feel a strong need for them, even though they did not initially plan to purchase them, are called ______ products.
impulse
While shopping in her local supermarket, Cassidy grabbed a package of gum from a display at the checkout counter. Cassidy does not usually chew gum, but the display caught her interest. In this case, the gum was a(n) ______ product.
impulse
When customers have the choice about whether to stay at a company's website or visit a competitor's site, they are considered ______ customers, and promotion efforts must address their needs at that moment.
inbound
trademark
includes only those words, symbols, or marks that are legally registered for use by a single company
Discretionary income
income that is left after paying taxes and necessities.
Many services are delivered by individual service providers with varying levels of experience and expertise. This can lead to service quality that is ______.
inconsistent
The sales of installations tend to _____ during periods of company growth.
increase
Since the end of World War II, the amount of money spent on advertising in the United States has ______.
increased dramatically
While shopping for toothpaste at her local convenience store, Cassie was able to compare prices on all of the available products. This shows how access to substitutes ______ price sensitivity.
increases
The Lanham Act of 1946 was enacted to _____.
indicate what brand names and trademarks could be protected
Associated Farmers' Products is a new producer of fruit and vegetable products. The company uses wholesalers and retailers to get its goods to consumers. This is an example of a(n) ______ channel system.
indirect
Certain service firms can offer products only while the customer is present. Therefore these firms rarely use ______ distribution.
indirect
A product brand name that is used only for that product is called a(n) ______ brand.
individual
A single item within a product line is called a(n) ________ product.
individual
Procter & Gamble offers Tide brand laundry detergent in different sizes and types, such as Coldwater Liquid, High Efficiency Liquid, and Bleach Liquid versions. Each size and type is an example of a(n) ______ product.
individual
Great Grains manufactures and sells a variety of baked goods under its Baked Better brand name. When the company developed a new line of cookies, it chose to brand them as Chewy. For Chewy, Great Grains is using a(n) ______.
individual brand
The North American Classification System uses codes that group together businesses that are similar to each other.
industry
market growth
industry sales grow fast—but industry profits rise and then start falling. The innovator begins to make big profits as more and more customers buy.
Because a company must buy the supplies it needs in order to produce its products, the industry demand for business products is considered fairly ______.
inelastic
It is the job of a specialist in the ____ department to make sure the technical aspects of an MIS are correct.
information technology
Secondary data refers to:
information that has been collected or published already.
Customers typically want to know something about a product before they consider purchasing it. A(n) ______ objective can show that the product meets consumer needs.
informing
Samsung placed an ad in Rolling Stone magazine announcing the Galaxy Tab, the world's thinnest tablet computer. The ad focused on the benefits that it offered based on common customer needs. Samsung is using a(n) ______ objective for its ad.
informing
What are the three basic promotion objectives?
informing, persuading, reminding
By making a decision to search for information in a specific message channel, the customer is ____ communicaiton.
initiates
Gerald is a recent college graduate and is in the market for a new automobile. He searches the Internet for information and then visits different automobile dealerships to speak to the sales people and perform a test drive. By doing these things, Gerald is ______ the communication process.
initiating
An organizational culture that emphasizes ______ can generate more ideas.
innovation
According to the adoption curve, ____ are the first to adopt new ideas.
innovators
The first group to adopt new ideas are called ______.
innovators
Several customers of Mike's Machine Works live beyond the territory of the sales force, so the company relies on a team of employees who call these customers on the phone to tell them about new products. These employees are an example of a(n) _____.
inside sales force
When people are willing to make the effort to look for a branded product because they refuse to consider purchasing an alternative brand, it is called brand ______.
insistence
The building and land used by a company are which type of business product?
installations
Shell Oil has supported a driving-safety campaign for many years. Shell uses ads persuading drivers to not drive distracted. These ads are examples of ______ advertising.
institutional
Dorothy visits a lawyer and walks out with advice about how to prepare her will. While she walks out of the meeting without anything in hand, she is pleased with what she learned. This is an example of a product that is _____.
intangible
Although a firm may engage in several different promotional activities at one time, it should strive to produce ______ marketing communications in order to maintain consistent messaging.
integrated
Frito-Lay is promoting the SunChips brand as being environmentally friendly. This message is communicated in all of its print and television ads, point of purchase displays, and packaging. The company is using a(n) ______ strategy.
integrated marketing communications
Camphor Inc. needed to sell more batteries. These are normally an impulse purchase; most people do not go out to a battery store on a regular basis. Camphor needs to pursue a(n)_____________ distribution strategy.
intensive
Company offices prefer to have their business supplies conveniently available. This calls for producers of office supplies to choose a(n) ______ distribution strategy.
intensive
Amos & Sons used to sell its barbecue sauce only through high-end retailers. Recently, it has started selling the barbecue sauce through grocery chains as well. This is an example of moving from selective distribution to ______.
intensive distribution
Juan, a marketing manager at a company, decides to sell a product through all appropriate and willing intermediaries. Based on this choice, it is clear that Juan wants the product to have ______.
intensive distribution
Selling a product through all appropriate wholesalers or retailers who will stock or sell the product is known as ______.
intensive distribution
A woman visited a local and independent mortgage broker to secure a home loan. The independent broker was able to help her decide which one of the various mortgage products would best fit her needs. In this situation, the broker served as a(n) ______ who provided the buyer with information.
intermediary
Katrine doesn't understand all of the various aspects of automobile insurance and relies on her local independent State Farm Insurance agent to provide her with information. This agent acts as a(n) _____ for State Farm.
intermediary
When companies use ______, they promote the product to their own salespeople or other employees who are in regular contact with customers.
internal marketing
Those small service companies that are too small to warrant attention by a sales rep often rely on ____ buying.
internet
An order getter helps bring products out of the ______ stage of the product life cycle.
introduction
Most companies experience losses during the market ______ phase due to high levels of promotional spending, sharing information about the product, and low sales. All of these are important since most target customers are not aware of the product.
introduction
Accumulating
involves collecting products from many small producers
Packaging
involves promoting, protecting, and enhancing the product.
Straight Rebuy
is a routine repurchase that may have been made many times before.
Macro-Marketing
is a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society
Secondary data found on the Internet
is sometimes inaccurate.
Buyers for the U.S. government are spending our tax money, and they are under a lot of pressure to spend it carefully. Consequently, their purchasing ______. (Check all that apply.)
is subject to public review often utilizes competitive bids requires writing detailed specifications
One of the drawbacks of using average-cost pricing is that ______.
it fails to take into account the effect of "economies of scale" on pricing
A situation analysis aids the marketing research process in all the following ways except that:
it interprets data and converts it to useful knowledge and business wisdom.
There has been growth in multichannel distribution mainly because ______.
it is the way customers want to shop
Marketing research helps managers make better marketing decisions because:
it offers objective information gathered using the scientific method.
Homogeneous shopping products
items the customer sees as basically the same and wants at the lowest price.
Firms that are in a cooperative relationship should consider their problems to be a(n) ______.
joint responsibility
In a(n) ______, the partners must work together to develop a mutually agreed upon marketing strategy for an international market.
joint venture
When marketing managers are able to answer questions like "How did our competitor enter that market?" and "Why did our Twitter account blow-up after that tweet?," the company has changed data into _____
knowledge
When marketing managers are able to answer questions like "How did our competitor enter that market?" and "Why did our Twitter account blow-up after that tweet?," the company has changed data into _____.
knowledge
Before running an advertisement, many companies are evaluating its likelihood of success by subjecting it to ______.
laboratory or market tests
Customers who avoid change and are very suspicious of new ideas are called ______.
laggards
Firms often retain an elite sales team to deal with ______.
large accounts
Mass selling is an ideal promotion strategy to save costs when the market is ______.
large and scattered
Category killer
large numbers of customers with their large assortment and low prices in specific product categories.
Supermarket
large stores specializing in groceries with self-service and wide assortments
Department store
larger stores that are organized into many separate departments and offer many product lines
Allison has reluctantly purchased a "smartphone." She finally decided after much pressure from her sorority sisters who told her to "catch up to the real world." When it comes to mobile phones, Allison is a member of the ______ group.
late majority
In order to attract customers to visit a retail store, sellers may offer ______, or real bargain prices. Sellers hope that once customers are at the store they will purchase other items that are not priced so low.
leader pricing
When it first began distributing root beer to grocery stores, Reggie's Root Beer Supply only sold original flavor root beer. In the last three years, the company has extended the product and now distributes vanilla root beer and caramel root beer to stores. By increasing the number of products in the root beer line, the company is focusing on product line _____.
length
A buyer who has a long-term commitment with a supplier may find that he has (more/less) flexibility in purchasing.
less
Customers are ______ price sensitive when contemplating making a small expenditure of money.
less
After Kroger installed a system to track when more than two customers are waiting in line, it managed to reduce checkout line wait times to _____.
less than 30 seconds
A familiar brand that can be used by sellers for a fee is called a(n) ________ brand.
licensed
The Dallas Chargers racing team gives manufacturers of clothing and gift items permission to use the team's name and emblem. In return, the Dallas Chargers receive payment for granting this permission. In this case, the Dallas Chargers name and logo is a(n) ______.
licensed brand
Selling the right to use some process, trademark, patent, or other rights for a fee or royalty is called ______.
licensing
The basic approaches for entering international markets includes exporting, management contracting, joint venture, direct investment and ____.
licensing
A product idea can be in a different ______ in different markets.
life-cycle stage
Retailers known as ______-function wholesalers participate in select (but not all) wholesaling activities.
limited
A firm's product _____ is made up of closely related products.
line
For shopping products, it is common for all prices and value to be ______.
logically related
Buying function
looking for and evaluating goods and services.
When an unauthorized company counterfeits a product of another company, it will cause the original owner of the counterfeited item to _____.
lose sales
TQM is based on the idea that the cost of poor product quality is ______.
lost customers
Ultimately, the cost of a poor quality product or service is _____.
lost customers
When shopping for homogeneous goods, consumers are most likely to focus on _____.
low price
Indirect distribution is best when an intermediary helps producers ______. (Check all that apply.)
lower costs serve customer needs better
When shopping for a homogeneous shopping product, consumers typically search for the _____.
lowest price
When a firm places special emphasis on large customers, it may use a(n) _____ to sell to these customers.
major accounts sales force
In the problem-solving step, managers use the research results to ______.
make marketing decisions
The Blue Lagoon Corporation purchased the land, hired the building contractors, and built the facility for a seaside resort in Jamaica, but Marriott provides all of the management and marketing functions for the property. Marriott is using ______ to operate in this international market.
management contracting
When someone offers management and marketing skills and has nothing to do with production or distribution, this person is providing _____.
management contracting
channel captain
manager who helps direct the activities of a whole channel and tries to avoid or solve channel conflicts.
Producer-made brands are referred to as ______ brands.
manufacturer
A pricing tool that focuses on the changes in total revenue and total cost from selling one more unit to find the most profitable price and quantity is called ______.
marginal analysis
Place the four stages of the product life cycle in order from the first stage (top) to the final stage (bottom).
market introduction market growth market maturity sales decline
Tennis Products Corp. has noticed that in one of its product-markets, industry sales have leveled off and competition has been getting tougher. This product-market appears to be in the ______ stage of the product life cycle.
market maturity
Concept testing in the form of focus groups, surveys, or online testing are all ways to conduct ______.
market research
Rita works as a salesperson for a soft drink company. Rita needs to identify which customers in her territory she needs to target, determine which products to discuss with the customer, and sometimes negotiate prices. In essence, Rita is operating as a ______ manager in her territory.
marketing
A customer service manager at a car rental company can check in every afternoon to see which car rental location is renting the most cars that day by using a
marketing dashboard.
The data from a ______ system can be used to guide the marketing strategy planning process.
marketing information
Because market researchers must be sure that they are focusing on actual problems, cooperation with ______ is critical to good marketing research.
marketing managers
A dollar amount added to the cost of products to get the selling price is called a(n) _______.
markup
A(n) ______ is the percentage of the cost that is added to the cost to get the selling price.
markup
Communicating with large numbers of potential customers at the same time is known as ______.
mass selling
It is most important for marketing managers to choose an advertising medium that ______.
matches the product's entire marketing strategy
A retailer may be ______, or even declining, in the United States, but only beginning to grow in other countries.
mature
Companies are likely to spend more on sales promotion when competing in _____ markets.
mature
Competitive advantage is especially important in ______ product-markets.
mature
Sometimes in a(n) ______ market, a firm may find a new use for an existing product that aids in boosting sales and avoiding sales decline.
mature
Many firms respond to the increased competition of the market ______ stage of the product life cycle by slashing prices in order to maintain market share.
maturity
A manager seeking profit ____ will select the highest spot on the total profit curve that has the longest vertical distance between the total revenue curve and total cost curve.
maximization
Aidan Haeger, marketing manager for Wilson Sporting Goods, wants to use marginal analysis to price new soccer balls. Unfortunately he does not know the exact shape of the firm's demand curve. Under these circumstances, marginal analysis ______.
may be useful anyway because a profitable region generally surrounds the best price
A research proposal:
may include information about costs, what data will be collected, and how long the process will take.
Marketing concept
means an organization aims all its efforts at satisfying its customers—at a profit.
Brand nonrecognition
means final consumers don't recognize a brand at all
Brand rejection
means that potential customers won't buy a brand unless its image is changed
Marketing orientation
means trying to carry out the marketing concept (try to offer customers what they need).
Gross national income (GNI)
measure that is similar to GDP, but GNI does not include income earned by foreigners who own resources in that nation.
Triple bottom line
measures an organization's economic, social, and environmental outcomes
Advertising ____ are the various means by which the message is communicated to the target market.
media
Simone is a missionary sales person for an organic juice producer. In her role, she might also be called a(n) ____ or a detailer.
merchandiser
The method by which a message is delivered is referred to as the ______.
message channel
Merchandiser or detailer are alternate terms used to describe ______ salespeople.
missionary
Carl works for a producer of vitamins and supplements. He is very knowledgeable about all of his company's products and those sold by the competition. He calls on the wholesalers and retailers in his territory, generating interest in his company's products and training retailers' sales staff. When a retailer is ready to buy, Carl turns the business over to a wholesaler's sales rep. Carl is a(n) ______.
missionary salesperson
The marketing _____ is a statement of relationships among the marketing variables.
model
Royal Caribbean offers a New Year's Eve cruise for $1,800 per person. In its' advertising, the company focuses on four payments of $450 because customers are ______ price sensitive the greater the total expenditure.
more
Trucks
more expensive, but flexible and essential
Pipelines
move oil and gas
Diversification
moving into totally different lines of business—perhaps unfamiliar products, markets, or even levels in the production-marketing system.
Extensive problem solving
much effort put into deciding how to satisfy a need.
Apple Inc. uses different intermediaries to distribute its electronic products. To enhance the customer experience, Apple also operates a chain of over 450 additional stores worldwide in fiscal year 2015. Based on this information, it is clear that Apple is using a(n) ______ distribution strategy.
multichannel
Before going to the book store to purchase the book, Manuel reads a review of the new novel on Amazon. What type of distribution does this represent?
multichannel
Edmund and Edgar, a clothing manufacturer, sells its clothing and accessories on its website, at one Edgar and Edmund store in Los Angeles, and through the discount retailer Walmart. Edmund and Edgar is using ______ distribution to reach its customers.
multichannel
Ethical dilemmas can rise in ______ because not everyone will win.
multichannel distribution
Using several competing channels to reach the same target market is called ______.
multichannel distribution
A brand name has a _____ meaning than branding.
narrower
Manufacturer brands are sometimes called ____ brands because they are promoted all across the country.
national
An advertisement that is designed to look like the platform on which it appears is called ____ advertising.
native
Precious metals, iron ore, natural gas, and coal are all examples of ______ products.
natural
When customers consider whether to buy the same product a second time, they are most likely to think about ______ first.
negative experiences
The product life-cycle concept ______ indicates precisely how long each stage will last.
never
An offering that is different in any way from a company's other products is known as a(n) ______ product, even if it is a refined version of a previous product.
new
Products that potential customers are unaware of and that offer really new ideas are called ______ unsought products.
new
When Irene's Ice Cream offered an ice cream product that aided in digestion, it was introducing a product with features that had not existed before to a market that hadn't considered the idea before. This is an example of a(n) _____ product.
new unsought
Because the product life cycle is an inevitability in most markets, a firm must have an active ______ process or otherwise risk going out of business.
new-product development
A distraction that reduces the effectiveness of the communication process is called ______.
noise
Any disruption of the marketing communication process, also known as ____ , reduces the effectiveness of the message.
noise
Lisle has never heard of Refinery29.com. This is an example of brand ______.
nonrecognition
Defining the problem ensures that the research is ______.
not wasted effort correctly targeted
Marketing metrics
numeric data that allow marketing managers to evaluate performance, often against a set target or goal.
Burger King used coupons to get customers to try its new sandwich. Increasing initial sales of the new menu item was this promotion's ______,.
objective
Burger King used coupons to get customers to try its new sandwich. Increasing initial sales of the new menu item was this promotion's ______.
objective
Footlocker offered a discount on its website for customers who visited one of its stores. This promotion was aimed at a specific ______ to increase store traffic.
objective
Footlocker offered a discount on its website for customers who visited one of its stores. This promotion was aimed at a specific ______, to increase store traffic.
objective
The right promotion blend depends on what the firm wants to achieve; therefore, it is critical that promotion ______ be clearly defined.
objectives
Roy's Toy Store uses video in the toy aisles to watch how parents and kids interact while shopping for toys. This is an example of the _____ method of collecting data.
observation
New-Task Buying
occurs when a customer organization has a new need and wants a great deal of information.
market maturity
occurs when industry sales level off and competition gets tougher. Many aggressive competitors have entered the race for profits—except in oligopoly situations.
Reinforcement
occurs when the response is followed by satisfaction—that is, reduction in the drive.
Setting prices that end in certain number, such as $0.99 or $49, is called ______ pricing.
odd-even
Some retailers commonly use prices that end in certain numbers. These retailers think that their customers see prices with these numbers as considerably cheaper. This practice is called ______.
odd-even pricing
Deborah is considering finding a new cellphone service provider because her current provider is raising its prices. However, for Deborah the prospect of shopping around for a new provider that is cheaper and offers similar coverage sounds time-intensive and aggravating. Deborah ultimately decides to stay with her current provider because ______.
of the cost of switching providers
Discounter
offered "hard goods" (cameras, TVs, and appliances) at substantial price cuts to customers who would go to the discounter's low-rent store
Product development
offering new or improved products for present markets.
The types and numbers of salespeople needed should be determined ______.
on an ongoing basis
Small service companies may not be large enough to get service from a supplier's sales representative, so they typically buy ______.
on the Internet
a New Product
one that is new in any way for the company concerned.
You would find a wider assortment of products to choose from when shopping at a(n) ____ store.
online
Breakthrough opportunities
opportunities that help innovators develop hard-to-copy marketing strategies that will be very profitable for a long time.
Sanjay has just gotten a new customer for Xeno Business Products.This is his third new customer this month, Sanjay would be considered a(n) ____ _____for his company.
order getter
Salespeople who work to generate new business opportunities and build relationships with customers are known as ______.
order getters
In her work as a salesperson for The Computer Store, Nicole maintains contact with small service businesses that have been customers of her firm for years. She completes sales transactions and maintains relationships, keeps her customers informed of all products and services, answers their questions, and handles any complaints. Nicole's sales job has her acting primarily as a(n) ______.
order taker
Sol routinely handles his regular customers, big or small. He likes to maintain the hands-on contact and make sure his regular customers are happy. Sol is a(n) ______.
order taker
Salespeople who sell to the regular or established customers, complete most sales transactions, and maintain relationships with customers are called ______.
order takers
The three basic sales tasks are ______.
order-getting, order-taking, and supporting
Selective Exposure
our eyes and minds seek out and notice only information that interests us.
A basic problem with the average-cost approach is that it doesn't consider cost variations at different levels of .
output
B&B Accounting has another company in India prepare simple tax returns, a job formerly done by B&B employees. B&B is ______ these tax returns.
outsourcing
When managers choose to buy professional services outside the firm as opposed to having people working within the firm do them, it is called _____.
outsourcing
A statistical _____ is an easy-to-use computer program that analyzes data.
package
individual product
particular product within a product line.
Candace doesn't want another company to copy her idea for a self-charging phone case. To protect her idea, Candace should file for a _____.
patent
Under Armour, the originator of performance apparel, has ads that appear when a potential customer uses Google to search for sports-related words, such as football, baseball, or basketball. Under Armour pays only if the customer selects its ads. This is called ______.
pay-per-click advertising
A significant difference between advertising and publicity is that publicity does not entail ___.
paying media costs
Senior citizens
people over the age of 65.
Reference group
people to whom an individual looks when forming attitudes about a particular topic.
Gatekeepers (Buying Center)
people who control the flow of information within the organization.
Economic buyers
people who know all the facts and logically compare choices to get the greatest satisfaction from spending their time and money.
Empty nesters
people whose children are grown and who are now able to spend their money in other ways.
In the marketplace, markups are generally expressed as a(n) ______.
percentage
What do service wholesalers do?
perform every wholesaling activity
Influencers (Buying Center)
perhaps engineering or R&D people who help write specifications or supply information for evaluating alternatives.
Users (Buying Center)
perhaps production line workers or their supervisors
When demand for a service fluctuates greatly, it causes problems for the marketing manager, because there is no way to keep an extra supply of services in a warehouse. In other words, services are ______.
perishable
Opinion leader
person who influences others.
Eva, a marketing researcher, wants to do in-depth research on business customers' experiences with the company's products. She is MOST likely to get what she wants if she uses:
personal interview
The interviewer asked Joe about his use of Viagra. Joe mumbled an answer, clearly embarrassed. This can be a problem with __________ __________
personal interview
Communication with wholesalers and retailers includes information about what promotion will be directed toward the final consumer, each channel member's part in marketing the product, and important financial details. This communication is generally handled through ______.
personal selling
Direct spoken communication between sellers and potential customers is called ______.
personal selling
Firms should consider customer service an important part of their ______ efforts.
personal selling
Sales managers oversee ______.
personal selling
The most common promotion approach in business markets is ______.
personal selling
During the market growth stage of a product, a company will want to focus promotional efforts on _____ customers.
persuading
Famous for his long and thick hair, NFL star Troy Polamalu has a contract with Procter & Gamble to endorse Head and Shoulders shampoo. Procter & Gamble has a(n) ______ objective when it uses Troy to demonstrate that Head and Shoulders shampoo is superior to competing products and thus should be purchased.
persuading
When several firms offer similar products, companies often develop a(n) ______ objective, which tries to convince customers to buy, and continue to buy, their products and not the competitor products.
persuading
When a firm determines that a product will no longer be profitable enough for the firm to meet its objectives, it may need to develop a ______ strategy.
phase-out
The first company to introduce a new product to a market is known as a(n) ______.
pioneer
Marketing that tries to make customers interested in a general product category instead of one particular brand is called ______.
pioneering advertising
Soon after a product is launched, a marketing campaign that describes the new merchandise to potential customers is called ______.
pioneering advertising
The cost of ______ is lost customers.
poor quality product
In marketing research, a(n) ______ is the total group that marketing managers are interested in.
population
Carla Mason usually buys Wheaties breakfast cereal because she likes the taste, though she sometimes buys other cereals when they are on sale. For Carla, Wheaties has achieved brand ______.
preference
When members of a brand's target market typically select that brand instead of other comparable options, it is called brand ______.
preference
Setting a rather high price to suggest high quality or high status is called ______ pricing.
prestige
A company may use ______ to lure customers who will purchase an item that is quite expensive because they believe that it has superior quality and represents an elevated social status.
prestige pricing
Promotion for a really new product idea should seek to generate interest in the product idea rather than a specific brand, otherwise known as ____ demand.
primary
Questioning and observing are the two basic methods of obtaining ______.
primary data
Demand for a broad product idea rather than a specific brand is called ______.
primary demand
Rite-Way drugstores places the Rite-Way brand name on a wide range of products that are only sold in Rite-Way stores. The Rite-way brand is a ______ brand.
private
Samsung uses inbound telemarketing to respond to customer questions. In addition, the company has people who search the Internet and access big data from Facebook, Twitter, blogs, and discussion forums to find complaints related to Samsung and to attempt to remedy the complaint. The company is using a(n) ______ customer service policy.
proactive
When a company does not wait for a customer to contact them with a complaint, but instead uses technology and research to identify and contact seemingly unhappy customers, the company is engaging in _____.
proactive customer service
Most of a customer service rep's time is spent helping to remedy ______.
problems with a purchase
An item or service that fulfills a need and is available from a company is known as a _____.
product
Pioneering, competitive, and reminder advertising are all different types of ______ advertising.
product
Place, price, promotion, and _____ are the four components of the marketing mix.
product
Dove offers four different types of personal cleaning products -- soap, body wash, shampoo and hand lotion. These represent Dove's _____ _____.
product lines
Advertising that tries to sell goods or services is called ______.
product advertising
FTC Rule: 6 Months
product is "new" only six months. a product must be entirely new or changed in a "functionally significant or substantial respect
The legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products is called ______.
product liability
Ford Motor Company offers different types of vehicles, such as cars, SUVs, trucks, and minivans. These represent different ______. Multiple choice question.
product lines
Setting one price for a set of products is called ______ pricing.
product-bundle
Consumer products
products meant for the final consumer.
Business product
products meant for use in producing other products.
generic products
products that have no brand at all other than identification of their contents
Cues
products, signs, ads, and other stimuli in the environment.
Focused and dedicated services that aid in a firm's operation are called ______ services.
professional
The difference between total revenue and total cost is called ____.
profit
A manager seeking ______ will select the highest spot on the total profit curve that has the longest vertical distance between the total revenue curve and total cost curve.
profit maximization
It is important to evaluate a new idea's return on investment and likely .
profitability
It is important to evaluate a new idea's return on investment and likely__________.
profitability
As a way to increase ______, Epson uses a reverse channel to recycle used printer-ink cartridges. The company then uses the emptied cartridges to manufacture new filled ones at a lower costs.
profits
Burton's, Inc., is a wholesaler that supplies local sporting goods stores with clothing and footwear. Burton's constantly stays aware of when products are becoming popular in youth sports. Burton's customers are always able to purchase these goods before competing stores sell them. Burton's can be described as a(n) _____ wholesaler.
progressive
Procter & Gamble's Crest toothbrush packaging makes it easy for the consumer to see and evaluate the product, and the design helps to focus attention on the benefits of the toothbrush. This aspect of the packaging helps Procter & Gamble ______.
promote the product
Selling function
promoting the product.
During the market introduction stage of the product life cycle, it takes time for customers to learn that a new product is available; therefore, a firm must invest heavily in ______.
promotion
The advertising medium should specifically support the ______ objectives of a company.
promotion
The major responsibility of most product managers or brand managers is ______.
promotion
The use of advertising and sales promotion by a company plays a central role in the ____ blend of the marketing mix because it helps the company reach many customers at the same time.
promotion
Sales promotion
promotion activities—other than advertising, publicity, and personal selling—that stimulate interest, trial, or purchase by final customers or others in the channel.
Safety needs
protection and physical well-being (perhaps involving health, financial security, medicine, and exercise)
A sunglasses manufacturer that develops a sample of a new product design to test among employees and customers has produced a(n) ______.
prototype
A(n) _________ is an early sample or model built to test a concept.
prototype
The biggest advantage to specializing sales people by product line is that it _____.
provides a level of expertise to the customer
Setting prices that have special appeal to target customers is called ______ pricing. These prices just seem right to customers.
psychological
Setting prices that have special appeal to target customers is called ______ pricing. These prices just seemright to customers.
psychological
Cal believes that customers in his culinary supply shop find certain prices very appealing. He believes that customers do not really notice the difference in prices of products priced between $15.00 and $19.99. Therefore, Cal prices products at the top of this range. Cal's pricing approach is called ______.
psychological pricing
Communication with noncustomer groups, such as labor, public interest groups, stockholders, and the government, is known as ______.
public relations
In the United States, it is expected that government buyers need to be efficient in purchasing, as a result, their purchases are usually subject to ______.
public review
An unpaid, nonpersonal presentation of ideas, goods, or services, is called ____.
publicity
Gatorade is introducing four new flavors of its sports drinks. The company is running national television commercials and mailing coupons to customers to encourage them to ask for the flavors at their favorite store. Gatorade is using a(n) ______ strategy in the channel of distribution.
pull
When customers demand a certain product from retailers, they are ______ the product through the channel of distribution.
pulling
Business products are often sold through direct distribution because business customers tend to _____. (Check all that apply.)
purchase less frequently be located in the same geographic area place big orders
Most retail and wholesale buyers see themselves as __________ for their target customers.
purchasing agents
Attempting to sell the whole marketing mix to all possible channel members is known as ______.
pushing
Implementation
putting marketing plans into operation.
Assorting
putting together a variety of products to give a target market what it wants.
In more complex service delivery situations, like running a cruise ship, it is hard to keep _______ consistent.
quality
Kendra is shopping at the new organic food store. She wants to buy her favorite organic granola, but is disappointed to find another brand on the store shelf. From a marketing point-of-view, the granola on the shelf lacks _____ because it doesn't meet Kendra's needs.
quality
Within the context of marketing, the power of a product to fulfill a customer's requirements is called its _____.
quality
A marketing researcher at a soda company conducted a survey to determine the number of respondents who have tried their new diet soda. He calculates a percentage for respondents who have tried the product and figures an average score for how satisfied they were. The researcher is conducting ______.
quantitative research
Research that seeks structured responses that can be summarized in numbers, such as percentages, averages, or other statistics, is referred to as ______.
quantitative research
It is more economical for Bob's Baseball Bats to produce thousands of bats each month even though consumer demand is not that high. This is an example of a discrepancy of _____.
quantity
It is the job of a ______ to specialize in hard-to-handle product assortments that a retailer doesn't want to manage.
rack jobber
The process where customer input is incorporated into a new design of the product and then the revised product is given back to the customer for further evaluation is called ______.
rapid prototyping
Sales of an individual product or brand will ______ follow the product life-cycle pattern.
rarely
Country Hill Products, Inc. has a subsidiary that grows soybeans and field corn. In addition, the firm has a subsidiary that mines for coal and precious metals. All of the company's products are examples of ______.
raw materials
At the step when data are interpreted, a marketing manager should:
realize that statistical summaries from a sample may not be precise for the whole population.
Reorders are straight_____
rebuys
As Jessica was shopping for lemonade at the grocery store, she remembered an advertisement she had seen for Country Time lemonade so she placed a bottle of the lemonade in her cart for purchase. In this instance, Country Time achieved brand _____.
recognition
When people can recall a brand's name, it is called brand ______.
recognition
Eilysh, a student, is used to paying $1.50 for a 12-ounce bottle of water from various vending machines on campus, so she expects the new vending machine just installed outside her chemistry classroom to charge her the same amount for water. For Eilysh, the $1.50 price is a ______.
reference price
Jill hoped to buy tortilla chips at the store, but when she saw they were priced at $6 a bag she decided not to buy them because she thought the price was too high. Jill went into the store with a different idea of what the ____ of the chips should be.
reference price
The price customers expect to pay for a product is called the ______.
reference price
Activities that solve discrepancies of quantity and assortment throughout an entire distribution channel are called ______ activities.
regrouping
Products that stay unsought but eventually are bought are called _____ unsought products.
regularly
Ronnie Brewer has never owned a Ford car, but his parents owned one and the car had all kinds of problems. As a result, Ronnie will not even consider buying a Ford. For Ronnie, Ford has achieved brand _____.
rejection
Sherri's Shirts sells three types of silk blouses. The one with the highest thread count is considered to be the highest grade of the three types of blouses. This is a description of the _____ of the silk blouses.
relative quality
Just-in-time delivery
reliably getting products there just before the customer needs them.
Selective retention
remembering only that which we want to remember.
When Coca-Cola uses magazine ads that highlight the product name and its history of happy customers, this is an example of ______ advertising.
reminder
A promotion objective aimed at keeping a customer from shifting to a competitor by having them recall their past satisfaction with the product is called a(n) ______ objective.
reminding
The Consumer Product Safety Commission has the power to _____.
remove a toy from the market if it posed a choking hazard
The marketing _________ process is not necessarily linear. You might find a solution before all of the five steps are completed.
research
When P&G's marketing teams test their advertisements in certain locations, they also purchase scanner sales data from nearby retailers. This type of ______ provides an estimate of how the ad is likely to affect sales.
research
Situation analysis is especially important so that both the marketing manager and the _____ understand the problem area.
researcher
Order takers at ______ businesses sometimes work at a customer checkout counter making minimum wage and may be unmotivated. This can lead to poor service to customers.
retail
cooperative chains
retailer sponsored groups—formed by independent retailers—that run their own buying organizations and conduct joint promotion efforts.
Academy Sports + Outdoors' primary target market is families looking for moderately-priced sports, outdoor, and lifestyle offerings. The company has a website and brick-and-mortar stores in several states. The stores have a self-service design that encourages customers to select products without the help of a salesperson. These traits all represent the ______ of Academy Sports + Outdoors.
retailer strategy
Mass-merchandising concept
retailers should offer low prices to get faster turnover and greater sales volumes—by appealing to larger markets.
When Colin opened his email account, he noticed an advertisement on his screen for shoes that he had been looking at online the day before. This ad is a form of _____.
retargeting
Best Buy has a recycling program that accepts used TVs, DVD players, computer monitors, audio and video cables, cell phones, and more from consumers. The company created this ______ channel in order to be environmentally and socially responsible.
reverse
Channels that are used to retrieve products that customers no longer want are called ______ channels..
reverse
Mattel recently recalled more than 9 million toys, including popular Barbie, Polly Pocket, and "Cars" movie items. The toys were recalled for safety reasons. Mattel used a(n) ______ to facilitate the process.
reverse channel
Many companies are using ______ in order to reduce environmental damage.
reverse channels
If a company buys it's competitors product to take apart, test, and/or review, to gain new ideas, or improve their own product; they would be using what is called
reverse engineering
When research and development managers at Bosch Home Appliances purchase a new Maytag dishwasher and take it apart to get new product ideas, Bosch's managers are engaging in ______.
reverse engineering
Between 1946 and 2017, annual advertising in the United States ______.
rose from about $3 billion to more than $200 billion
The 80/20 rule is based on the idea that 80 percent of a company's _____ come from only 20 percent of its customers.
sales
market introduction
sales are low as a new idea is first introduced to a market.
Dell Computer has an exhibit at the Consumer Electronics Show in Las Vegas, which is attended by thousands of people. Afterward, some of those people become ______ as the company's employees try to convince them to buy Dell products.
sales leads
Managing personal selling is the responsibility of the ______.
sales manager
Any promotional activity outside of advertising, publicity, and personal selling that attracts potential customers is known as ______.
sales promotion
Contests, coupons, free calendars, frequent customer discounts, trade shows, aisle displays, and banners are all examples of a marketing strategy called ______.
sales promotion
Lindsey is responsible for planning the monthly coupon booklet for her company. The booklet is distributed to customers when they walk into a store so they can take advantage of cost savings as they shop. Lindsey is an example of a(n) _____ manager.
sales promotion
When Trevor walked into the warehouse club, an employee handed him a coupon for $3 off of Tide laundry detergent. This coupon is an example of _____.
sales promotion
Direction of a company's sales promotion effort is the responsibility of the ______.
sales promotion manager
Account representative, field manager, sales consultant, market specialist and sales engineer are all names given to ________, mainly due to different responsibilities associated with this role.
salespeople
Most of the important communication with wholesalers and retailers are handled by ______.
salespeople
When customers are located far from a company, the only link between the customers and the company might be the _____.
salesperson
Door to door
salesperson going directly to the consumer's home
Lifestyle analysis
same as psychographics.
In marketing research, a part of the relevant population is called a ______.
sample
Since it is rarely possible for marketing managers to acquire information about every member of a population, they instead acquire information from a representative ______.
sample
The product offered by Southwest Airlines achieves the highest level of ______ when the customer's entire flight experience—from departure to arrival—meets the customer's needs.
satisfaction
The marketing research process is based on the _____.
scientific method
Tom's Bakery sells donuts, cupcakes, and bread—but recently the store began to sell plush toys and bubbles because so many of their customers are children and they felt these items would sell easily. Tom's Bakery is using ______ merchandising.
scrambled
Carl Kastle, marketing manager for NPG Electronics, reviews a S.W.O.T. analysis to help him evaluate three new product ideas NPG is currently considering. Kastle is operating in the ______ step of the new-product development process.
screening
You would conduct a S.W.O.T. analysis in the _____ phase of the new product development process.
screening
Selective perception
screening out and modifying ideas, messages, and information that conflict with previously learned attitudes and beliefs.
According to the Model of Customer-Initiated Interactive Communication, communication begins when a customer ______.
searches for information
Companies that respond quickly to products introduced by pioneers and offer a superior marketing mix are known as ______ and can be more profitable over time.
second-movers
A company's MIS is a good source for _____ data.
secondary
Selective exposure
seeking out and noticing only that information that interests us.
Qualitative research
seeks in-depth, open-ended responses, not yes or no answers. The researcher tries to get people to share their thoughts on a topic—without giving them many directions or guidelines about what to say.
multiple target market
segmenting the market and choosing two or more segments, and then treating each as a separate target market needing a different marketing mix.
Multiple target market approach
segmenting the market and choosing two or more segments, then treating each as a separate target market needing a different marketing mix.
single target market
segmenting the market and picking one of the homogeneous segments as the firm's target market
Single target market approach
segmenting the market and picking one of the homogeneous segments as the firm's target market.
In order to only use better-than-average intermediaries, Samson Co. ____ uses distribution.
selective
Marketers must be careful when using sentiment analysis because this information is usually ______.
selective
Michael Kors is a fashion designer who is best known for designing classic American sportswear for women. His company hand-picks retailers, with only a few in each town, to sell the clothing line. He uses ______ distribution to gain fairly widespread market coverage.
selective
When there are several competing firms in a market, marketers must build ______ demand, or demand for a specific brand rather than a general product idea.
selective
______ distribution is selling through only those intermediaries who will give the product special attention.
selective
Demand for a specific brand rather than a general product idea is called ______.
selective demand
Maria, a marketing manager at a company, decides to sell a product through wholesalers and retailers who agree to make a special effort to sell the product. Based on this choice, it is clear that Maria wants the product to have ______.
selective distribution
In the early years, Nike sold its running shoes through retailers that catered primarily to the running market. Then, the company began offering products in many more retail outlets. You can now find Nike products in almost any retailer that carries footwear. Nike's distribution strategy moved from ______ to ______.
selective;intensive
In "pay-per-click" advertising on the Internet, the advertiser is charged a certain amount each time a customer ______.
selects the ad
Customer Relationship Management (CRM)
seller fine-tunes the marketing effort with information from a detailed customer database
Vending machine
selling and delivering products through vending machines.
If you multiply the ______ by the BEP in units, you get the BEP in dollars.
selling price
manufacturers' agent
sells similar products for several noncompeting producers—for a commission on what is actually sold.
Tools that measure ______ ______ can quickly generate a lot of information, and many are free. Yet, much of this information is selective.
sentiment analysis
Sorting
separating products into grades and qualities desired by different target markets.
An indirect channel of distribution is often the best choice because an intermediary can help a producer _____.
serve customers better at a lower cost
A wholesaler known as a(n) ______ wholesaler participates in every wholesaling function.
service
When competitors offer physical goods, a company may differentiate its offering by adding a _________ valued by its target market.
service
A ______ is a trademark that refers specifically to an offered service.
service mark
In the service industry, training and empowerment are two keys to improving ______.
service quality
Direct contact between the customer and the company occurs most often among ______ organizations.
service-providing
Dental Providers of America, Inc. provides dental services across the country and has dental offices in most major cities. The company has to have multiple locations because ______.
services are conducted in person
Product line
set of individual products that are closely related.
Mission statement
sets out the organization's basic purpose for being.
Retail stores that use leader pricing attempt to attract customers by _____.
setting prices very low for some products
Multiple buying influence
several people share in making a purchase decision--perhaps even top management.
General Mills markets several types of breakfast cereals, baking products, pasta, and ice cream. In other words, General Mills has ______.
several product lines
Products that a customer is willing to spend time and effort comparing to similar products are called _____ products.
shopping
COncerns about unexpected shipping costs, the quality of the merchandise, rerun policy and personal information security are issues with ______.
shopping online
Mary is shopping for a football jersey in her favorite colors. At the same time, her husband Frank is shopping for a football jersey from his college alma mater. For Mary, the jersey is a(n) ______ product, for Frank, the jersey is a(n) ______ product.
shopping; specialty
Products influenced by fashion typically have _____ life cycles.
short
Operational decisions
short-run decisions to help implement strategies
It is important that a firm _____ in the new-product development process.
should not skip steps
For the experimental method to work, researchers must use two or more groups that are:
similar in most ways, except on the characteristic being tested.
One method for calculating the promotion budget is to allocate a percentage of past sales or expected future sales to promotion activities. This method is common among firms because of its ______.
simplicity
In addition to informing the marketing manager of what information is existing and accessible regarding a problem area, a _____ also highlights additional information that must be acquired.
situation analysis
For a marketing manager, calling people who are knowledgeable in the designated problem area and performing Internet searches may constitute the research required to conduct a useful
situation analysis.
According to the FTC, a product can only be called new for _____.
six months
Because introducing a new product is expensive, a marketing manager may try to ________ the market--- charging a relatively high price to help pay for the introductory costs.
skim
In terms of the number of employees, the majority of manufacturing facilities in the United States are _____.
small
Companies that have a relatively informal buying process tend to be ______.
smaller service firms
The growing use of online ______ by buyers has the effect of weakening the influence that communication from marketers has on buyers' attitudes and choices.
social networks
Intermediary
someone who specializes in trade rather than production—plays a role in the exchange process.
A ranch distributes its various grades of beef, as defined by the USDA, to different outlets based on the quality desired by customers. This is an example of which regrouping activity?
sorting
A wholesaler that specializes in serving gas station convenience stores focuses on smaller packages of prepared foods and drinks. This is an example of ___________.
sorting
Cassandra knows that the larger grocery stores her baking company serves will want cookies packaged in family-sized containers while the convenience stores will want individual serving sizes. Which regrouping activity is Cassandra concerned with?
sorting
Separating products into grades and qualities desired by different target markets is called ______.
sorting
standardization and grading
sorting products according to size and quality
Encoding is the process used by the _____ during communication.
source
Shell gas stations show video ads on screens built into the gas pumps while customers fill up their cars. The goal is to get the customers to go inside the stores and make additional purchases. The fuel pump ads are a form of ______ media.
specialized
Products that customers will make an extra effort to find because they really want them are called ______ products.
specialty
Melissa will not buy any tea except "Highlander"—an expensive white tea brand that few stores carry. She used to buy it only when she visited her mother who lived 100 miles away in a big city. She finally convinced her local grocery store to carry Highlander brand. For Melissa, this tea is a(n) ______.
specialty product
Product life cycle patterns apply to the sales of a given product idea in a(n) ______.
specific product-market
Marketing strategy
specifies a target market and a related marketing mix.
Green Electric Bike company uses three different suppliers for the batteries it uses in its electric bikes. This helps Green Electric Bike _____.
spread their risk
Products that are bought frequently, routinely, and without much consideration are called ______.
staples
A(n)__________ package is an easy-to-use computer program that analyzes data.
statistical
Finding a new use for an existing product in a mature market has the potential to ______.
stimulate sales growth
The local hardware store installed a new computerized checkout system which automatically orders product when inventory levels become low. This is an example of a _____.
straight rebuy
Companies may use different market ______ for individual products and target markets.
strategies, strategy, or plans
If managers do not provide detailed ______ to salespeople, the salespeople may be expected to be marketing managers in their own territories.
strategy guidelines
Expense items that qualify as ______ are not included in a final product.
supplies
Salespeople who help others secure orders, but do not try to get orders themselves are known as ______.
supporting salespeople
The most common ethical issue in marketing research concerns marketing managers who ______.
suppress particular results of market research
Taking time to compile data and getting respondents to answer completely are two limitations of ______
surveys
Recent television commercials for Chevrolet show customers discussing J.D. Powers rankings and awards for the company. The information from J.D. Powers is an example of _____.
syndicated research
A multinational corporation produces many of the world's consumer product brands in the categories of food, beverages, cleaning agents, and personal care products, which are sold in many different retail stores. It would be common for this corporation to ______.
take the lead in channel relations
Purchase situation
takes into account the purchase, time available, and location where a purchase is made.
In 2015, Target was the second largest general merchandise retailer in the United States. As a retailer, Target has a good understanding of customer needs and purchases items from producers that they think will be popular with their customers. Therefore, it is not surprising that Target ______.
takes the lead in channel relations
A good is a(n) ______ item because it can be seen and touched.
tangible
Steve is a buying manager at Publix Supermarkets in Miami, Florida, and wants to be sure that the shelves of the stores reflect the diversity of their local customers. This is because he sees himself as a purchasing agent for his ______.
target market
When several employees work together on the same account and each handles a different sales task, they are said to be ______.
team selling
During her sales call to the housing contractor, Kendra was discussing the new home monitoring system her company had introduced. When she wasn't able to answer an electrical question about the system, she called Marietta at the company for the answer. Marietta is acting as a(n) ______.
technical specialist
Rapidly changing ______ is one reason why product life cycles are getting shorter.
technology
Selling over the telephone is known as ______.
telemarketing
A broker usually has a _____ relationship with the buyer and seller in a transaction.
temporary
Competitive bid
terms of sale offered by different suppliers in response to the buyer's purchase specifications.
A sales_______ allows responsibilities to be divided geographically among different salespeople in order to more efficiently service customer accounts.
territory
Marketing research that is based on the scientific method requires a company's ideas to be
tested prior to implementation.
Brand recognition
that customers remember the brand.
Wheel of retailing
that new types of retailers enter the market as low-status, low-margin, low-price operators and then, if successful, evolve into more conventional retailers offering more services with higher operating costs and higher prices.
Low-involvement purchases
that which have little importance or relevance for the customer.
Multiplying the selling price times the BEP in units equals ______.
the BEP expressed in dollars
Inventory
the amount of goods being stored.
Technology
the application of science to convert an economy's resources to output.
Rapid prototyping ensures that ______.
the best version of the product reaches the market as quickly as possible
administered channel systems
the channel members informally agree to cooperate with each other.
contractual channel systems
the channel members agree by contract to cooperate with each other.
Market information function
the collection, analysis, and distribution of all the information needed to plan, carry out, and control marketing activities, whether in the firm's own neighborhood or in a market overseas.
marketing mix
the controllable variables the company puts together to satisfy this target group
Marketing mix
the controllable variables the company puts together to satisfy this target group.
Homogeneous (segment)
the customers in a market segment should be as similar as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions.
Heterogeneous (segment)
the customers in different segments should be as different as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions.
Innovation
the development and spread of new ideas, goods, and services.
Discrepancy of assortment
the difference between the lines a typical producer makes and the assortment final consumers or users want.
Customer value
the difference between the benefits a customer sees from a market offering and the costs of obtaining these benefits.
Discrepancy of quantity
the difference between the quantity of products it is economical for a producer to make and the quantity final users or consumers normally want.
Determining dimensions
the dimensions that actually affect the customer's purchase of a specific product or brand in a product-market.
Qualifying dimensions
the dimensions that are relevant to including a customer-type in a product- market.
Customers who tend to avoid risk by accepting new ideas only after they have been recommended by early adopters are known as ______.
the early majority
Customer equity
the expected earnings stream (profitability) of a firm's current and prospective customers over some period of time.
Acquisition cost
the expense required to acquire a new customer.
The Clothing Company sent e-mails with two different subject lines. Five hundred customers received one that said "20% Off and Free Shipping," while another 500 received one that said "Big Sale." The rest of the e-mail message was the same. Marketing managers then compared how many customers from each group clicked through to the Clothing Company from the email. To do their market research, the Clothing Company used ______.
the experimental method
Customer satisfaction:
the extent to which a product's perceived performance matches a buyer's expectations
The break-even point is found by dividing total fixed costs by _____.
the fixed cost contribution per unit
franchise operation
the franchisor develops a good marketing strategy, and the retail franchise holders carry out the strategy in their own units.
Sustainability
the idea that it's important to meet present needs without compromising the ability of future generations to meet their own needs.
Modified Rebuy
the in-between process where some review of the buying situation is done—though not as much as in new-task buying.
Modified rebuy
the in-between process where some review of the buying situation is done — though not as much as in new-task buying or as little as in straight rebuys.
Market-directed economy
the individual decisions of the many producers and consumers make the macro-level decisions for the whole economy
Customers who are cautious about new ideas and often adopt a new product only after receiving strong social pressure are called ______.
the late majority
Strategic (management) planning
the managerial process of developing and maintaining a match between an organization's resources and its market opportunities.
A sales territory can be very large or very small, depending on ______.
the market potential
Storing
the marketing function of holding goods so they're available when they're needed.
Differentiation
the marketing mix is distinct from and better than what is available from a competitor
The development stage of the new-product development process helps to determine ______.
the materials, equipment, staff, or training that will be required to deliver a new product or service
Marketing ethics
the moral standards that guide marketing decisions and actions.
Transporting function
the movement of goods from one place to another
Financing
the necessary cash and credit to produce, transport, store, promote, sell, and buy products.
Competitive environment
the number and types of competitors the marketing manager must face, and how they may behave.
Deciders (Buying Center)
the people in the organization who have the power to select or approve the supplier
Retention rate
the percentage of customers retained as compared to the total number of customers.
Marketing
the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need satisfying goods and services from producer to customer or client.
Market share
the portion of total sales in a product category accounted for by a particular brand.
Marketing analytics
the practice of measuring, managing, and analyzing marketing performance to measure its efficiency and effectiveness
Marketing management process
the process of (1) planning marketing activities, (2) directing the implementation of the plans, and (3) controlling these plans.
The four stages new-product ideas go through are known as _____.
the product life cycle
Buyers (Buying Center)
the purchasing managers who have the responsibility for working with suppliers and arranging the terms of the sale.
Confidence Intervals (Data Interpretation)
the range on either side of an estimate that is likely to contain the true value for the whole population
Marketing research is most successful when driven by _____ because it requires testing prior to making a final marketing decision.
the scientific method
Substantial (segment)
the segment should be big enough to be profitable
Operational (segment)
the segmenting dimensions should be useful for identifying customers and deciding on marketing mix variables.
Product assortment
the set of all product lines and individual products that a firm sells.
Adoption process
the steps individuals go through on the way to accepting or rejecting a new idea.
Population (Data Interpretation)
the total group they are interested in.
Gross domestic product (GDP)
the total market value of all goods and services provided in a country's economy in a year by both residents and nonresidents of that country.
Logistics
the transporting, storing, and handling of goods in ways that match target customers' needs
Mass marketing
the typical production-oriented approach—vaguely aims at "everyone" with the same marketing mix.
Economic system
the way an economy organizes to use scarce resources to produce goods and services and distribute them for consumption by various people and groups in the society.
Wayne Co. uses internal marketing to sell or promote products to ______.
their salespeople
Angela is surfing the Internet reading articles about ladies' watches, "liking" different watch makers on Facebook, and examining customer reviews about watch brands. These activities are useful to marketers because ______.
they are a signal that Angela is ready to purchase a watch
Consumers like to use vending machines because _____.
they are convenient
What are some of the advantages of limited-line retailers? (Check all that apply.)
they can change to adapt to the needs of individual customers They interact with their customers.
A pitfall for marketing managers engaged in Step 1 of the marketing research process is ______.
thinking that a symptom is the problem
Baby Boomers
those born between 1946 and 1964—are now creating new opportunities in industries such as tourism, health care, and financial services—all of which are more important to the middle-aged and retired.
Generation Y
those born from 1978 to 1994.
Generation Z
those born since 1995.
Copy ____ is the core message of an advertisement, conveyed through text and illustrations.
thrust
When the collecting primary of secondary data, research takes _____ and money.
time
A product that includes superior service, a satisfying physical good, helpful instructions, an easily accessible package, and a good warranty demonstrates a ______ product offering.
total
A firm that attempts to provide superior customer service by focusing on quality throughout each of its activities is engaging in ______.
total quality management (TQM)
Profit is calculated by determining the difference between ______.
total revenue and total cost
Customer lifetime value
total stream of purchases that a customer could contribute to the company over the length of the relationship.
Moments of direct contact between the customer and the firm, also known as ______, are opportunities for the company to deliver superior value.
touchpoints
Band-Aid and Kleenex are both examples of _____ because they are legally registered for use by their respective companies.
trademarks
Design Fashions produces high-end women's clothing. The company is having problems with one of its intermediaries because the wholesaler refuses to spend time selling Design Fashions' products to retailers. This situation suggests that Design Fashions operates in a ______ channel system.
traditional
In ______ channel systems, the various channel members make little or no effort to cooperate with each other.
traditional
Two keys to improving service quality are ______.
training and empowerment
Limited-function wholesalers that provide goods that they store in their vehicles are known as ______ wholesalers.
truck
True or false: A buyer who has a long-term commitment with a supplier may find he or she has less flexibility in purchasing.
true
Clustering
try to find similar patterns within sets of data
Market development
trying to increase sales by selling present products in new markets.
Market penetration
trying to increase sales of a firm's present products in its present markets— probably through a more aggressive marketing mix.
Specialty
type of conventional limited-line store—is usually small and has a distinct "personality."
A retailer is more likely to be successful when they ______.
understand why people buy where they do
During the planning meeting, the marketing manager told the team they needed to promote the new line of low-sodium snack chips because consumers didn't even know they existed and wouldn't know to pick them up when they shopped. These snack chips are an example of a(n) _____ product.
unsought
Products that people are unaware of or do not yet want are called ______ products.
unsought
Which of the following is not a business product class?
unsought
Limited problem solving
used by consumers when some effort is required in deciding the best way to satisfy a need.
The scientific method is important in marketing research because it:
uses observations to develop hypotheses and then test them.
Kroger has installed special infrared cameras to notify the manager when more than two people are waiting in line. This is an example of ______.
using technology to improve customer service
The sum of the changing expenses that are closely related to output is called total ______.
variable cost
The duration of the whole product life cycle tends to ______.
vary greatly across products
As one of the Four Vs, _____ is the speed at which data are generated and processed.
velocity
When a marketing manager finds an Internet source that appears useful, the manager should plan to
verify that the source is reputable.
Channel systems in which the whole channel focuses on the same target market at the end of the channel are called _____ marketing systems.
vertical
A video game retailer removed coupons meant for consumers from a new game's packaging. The producer of the game did not like this practice. The disagreement between the retailer and producer is referred to as ______.
vertical conflict
When firms acquire other firms at different levels of channel activity it is called ______.
vertical integration
supercenters (hypermarkets)
very large stores that try to carry not only food and drug items but all goods and services that the consumer purchases routinely
When using the observation method to collect data, the researcher tries to ______.
view or document a subject's normal actions
The first "V" in the Four Vs is ____ which identifies the quantity of data generated and stored.
volume
Companies use a data ______ to store all of their databases so they are available when needed.
warehouse
The promises a seller makes about a product are called a ______. Multiple choice question.
warranty
Selective Retention
we remember only what we want to remember
Selective Perception
we screen out or modify ideas, messages, and information that conflict with previously learned attitudes and beliefs.
Marketing planning
what • Set objectives • Evaluate opportunities • Create marketing strategies • Prepare marketing plans • Develop marketing program
Conducting an auction tells a company ______.
what customers are willing to pay
Micro-macro dilemma
what is "good" for some firms and consumers may not be good for society as a whole.
To create a demand estimate, managers often try to determine ____ quantity will be sold ____ a particular price is selected.
what, if
To create a demand estimate, managers often try to determine____quantity will be sold ____ a particular price is selected.
what, if
In order to determine a demand estimate for a product, a manager will need to try to answer _______ questions, which will allow him or her to conceptualize future outcomes of a number of different scenarios regarding the quantity and price of a product.
what-if
Routinized response behavior
when a consumer regularly selects a particular way of satisfying a need when it occurs.
Competitive advantage
when a firm has a marketing mix that the target market sees as better than a competitor's mix.
New-task buying
when an organization has a new need and the buyer wants a great deal of information.
Pure subsistence economy
when each family unit produces everything it consumes—there is no need to exchange goods and services and no marketing is involved.
routinized response behavior
when he or she regularly selects a particular way of satisfying a need when it occurs.
Production orientation
when managers make whatever products are easy to produce and then try to sell them.
brand preference
which means that target customers usually choose the brand over other brands,
Quantitative research
which seeks structured responses that can be summarized in numbers, like percentages, averages, or other statistics.
Macy's advertising campaign objective was to attract women to its spring collection of clothing. The company placed ads during the Academy Awards because research showed that the telecast is viewed primarily by women. Since women are not the only viewers of the television event, Macy's paid for the ______ audience.
whole
When companies purchase advertising on a particular media, it pays for the ______ audience that the media delivers.
whole
Culture
whole set of beliefs, attitudes, and ways of doing things of a reasonably homogeneous set of people.
Voluntary chains
wholesaler sponsored groups that work with "independent" retailers.
In the United States, manufacturers' sales branches are classified as _____.
wholesalers
Order takers for producers usually handle few items; however, order takers for _______ often sell thousands of items.
wholesalers
Agent wholesalers
wholesalers who do not own the products they sell.
Sharon reminded the marketing team that trying to sell the sherpa-style coats in St. Louis hadn't worked before because that area of the country had short bursts of cold weather. Sharon recommended that the company only sell the coats in climates with at least three months of arctic temperatures. This demonstrates how available data has been transformed into _____.
wisdom
Customer service reps usually ______.
work to remedy something that went wrong with a customer purchase
Retailer and Promotion
• Advertising • Publicity (Facebook, Twitter, Pinterest) • Salespeople (number and training) • Helpful information (demonstrations, displays, online videos, online reviews)
Retailer and Price
• Credit cards—whether to offer a store card • Discount policies • Frequency and level of sales prices • Charge (or not) for delivery or other services
Retailer and Place
• Physical stores and/or sales over the Internet • Number and location of stores • Shopping atmosphere (comfort, safety) • Store size, layout, and design • Store hours
Retailer and Product
• Product selection (width and depth of assortment, brands, quality) • After-sale service • Special services (special orders, entertainment, gift wrap)
Influences on Consumer Behavior (Economic needs)
•Economy of purchase •Convenience •Efficiency in use •Dependability •Income
Influences on Consumer Behavior (Social influence)
•Family •Social class •Reference groups •Culture •Ethnic groups
Government Units (Organizational Customers)
•Federal •State and Local
Producers (Organizational Customers)
•Manufacturers •Farms, mines, etc. •Financial Institutions •Other providers
Influences on Consumer Behavior (Psychological variables)
•Motivation •Perception •Learning •Attitude •Trust •Lifestyle
Nonprofits (Organizational Customers)
•National •Local
Influences on Consumer Behavior (Purchase situation)
•Purchase reason •Time •Surroundings
Intermediaries (Organizational Customers)
•Wholesalers •Retailers
