Marketing CLEp

False

All new and innovative products progress at the same rate through the consumer adoption lifecycle. T/F

consumer need

All new consumer products start with a ___. The new product development process cannot begin until the has been identified.

encoding

An outdoor ad is an example of what part of the communication process?

advertising, personal selling, public relation, sales promotion

Four parts of promotional mix

True

Fully integrating all parts of the promotional mix, is the key point of IMC

heterogeneity

Ninja buys a pizza and it does not taste as good as the last time her bought one for his family. This is an example of ___

product, price, place promotion, personal, presentation

P's of retail marketing mix

early adopters

The _ are the second class to adopt a new product. They find a practical use for the new product and communicate the value of the innovation to the classes who follow them. By influencing the attitudes and opinions of other consumers, they act as opinion leaders.

Channel leader

The __ or channel captain is the member who assumes channel leadership and exercises authority and power.

Late majority

The ___ is the consumer class that acts after the early majority and before the laggards. Members of the __ are considered to be 'skeptics' because they will only adopt new products after they have been adopted by a majority of consumers.

marketing mix

The different tools and methods used to get your message out is

E)Intensive efforts to establish long-term relationships with wholesalers and retailers.

The growth stage consists of A)Frequent product modification B) Limited number of models C)Heavy couponing D)Stimulation of primary demand E)Intensive efforts to establish long-term relationships with wholesalers and retailers.

E)Test Market

What is a limited introduction of a product and marketing program to determine whether or not the product/service will be successful A)Market choice B) Proposal C)New Idea Development D)Research E)Test Market

Awareness, Interest, desire, action

The AIDA concept explains the various stages that a consumer moves through when confronted with a promotional message. The acronym stands for:

D)Phasing out of all promotion

The Decline Stage's Promotion Strategy should be A)Use sampling and couponing B) Developing product awareness C)Advertising brands aggressively D)Phasing out of all promotion E)Stimulating selective demand

Add to existing product line

The Doritos Loco Taco is an example of what type of new product category?

Promotion

The Farmer plans to offer free cooking classes to customers. What part of the retail marketing mix would this strategy fall under?

temporal

discrepancy is, product is produced but a consumer is not ready to purchase the item

true

the main way marketers create a desire for their product is by Creating consumer demand for their brand through features and benefits.

advertising response function

when advertising increases sales to a certain market share, but then results in diminishing results

channel

A ___refers to a way of making a product available to distribute to the end consumers.

Remind

A company that has made and sold ketchup for over 100 years would be best suited to have what type of promotional goal?

Transactional, logistical and facilitating

Main function of inventories

concept development stage

Companies developing new products show their potential products to prospective customers in the____. This is typically done with test panels

global standardization

Companies that make no changes to their products or promotional strategy for foreign markets are using a___

Ownership, level of service, product assortment

Dimensions of retail marketing

every day low price

EDLP price strategy

channel captain

Wal-Mart is an example of

public relations

Fun Town has multiple days throughout the year where they donate a percentage of ticket sales to local charities. They also have days where they close the park down and invite disadvantaged youths to enjoy the rides for free. What is this an example of?

Place

German electronic stores have very limited operating hours when compared to US electronic stores. Because of this, the vast majority of German consumers buy their electronics via the Internet. Robo-Vac was not selling well in German electronics stores. Which of the 4 Ps in Robo-Vacs marketing mix must be adjusted to suit this foreign market?

B)They can focus on the same key promotional message that the advertising, sales promotion and public relations elements contain.

How can a sales force utilize an IMC message? A) They can offer tremendous discounts on price. B)They can focus on the same key promotional message that the advertising, sales promotion and public relations elements contain. C)They can provide slick presentations on the product

vertical conflict

If a large technology company who sold their tablets to Cheap-Mart decided to also build their own stores and offer the same product in same shopping plaza this would be an example of:

Sending

In Sugar Rush's example, what part of the communication process would be the advertising agency that developed the new television commercial for Jolt?

False

In a franchise store, there is freedom to stock the products the owner deems appropriate. T/F

Discount Stores

In order to reach their budget boot target market, Big T Boots sells their budget boots to:

Discount store

In which type of retail store are you likely to find the lowest price on cowboy boots?

True

Innovators are always the first to adopt new and innovative products?T or F

chain store

JC penny has which type of ownership

private brand

Kirkland brand is an example of

False

Laggards are considered to be opinion leaders.T/F

global standardization

Levis jeans makes the same product for all foreign and domestic markets and uses the same promotional message. This is an example of:

E)New to the world product

Penicillin would be what type of new product category? A)New product line B) Repositioned Product C)Lower priced product D)Revision E)New to the world product

product development

Potential new products are test marketed in the ________ stage of the new product development process. The product is placed in certain markets to gauge how well it is accepted by prospective customers before the product is launched nationwide.

Promotion adaptation

Robo-Vac was not selling well in China because Chinese consumers expect coupons when making big purchases. In order to meet this cultural difference, the marketers at Robo-Vac must make the following type of change to their marketing mix:

specialty

Small retail stores that offer only one type of product are known as:

C)Prices falling

The introductory stage does NOT consist of A) Use of intensive personal selling B) Limited distribution C)Prices falling D)Stimulation of primary demand E)Use of sampling and consumers

C)physically distribution, storing and sorting.

The logistical function of channel intermediaries consists of A)Inventory management B) Negotiation and risk taking. C)physically distribution, storing and sorting.

for profit marketing

The main goal is to let customers (or potential customers) know about your product with the intent on purchasing it, is the goal of

Awareness

The makers of GreenThum Gum realize that almost no one knows their product exists. On which stage of the consumer adoption process must they focus their efforts?

Persuade

The promotional goal that makes consumers chose one brand over the competition is called

B) target market

The specific markets and market segments you believe you need to market to is called A)segmentation B) target market

Remind, persuading

Traditionally, products that are very well established need to have what type of promotional message?

True

Training is provided in franchise store.T/F

C)An institution that purchase goods from producers and then resells them to other businesses, wholesalers, or retailers.

What is a merchant wholesaler? A) An institution that handles financial activity for the parent company. B) An institution that makes assortment and quantity discrepancies go away. C)An institution that purchase goods from producers and then resells them to other businesses, wholesalers, or retailers.

institutional

What is a type of advertising that is used to improve a company's image?

C)They can create a tangible cue to physically represent their service.

What is a way for a company to overcome the intangibility issue? A)They can provide samples of their service. B)They can offer initial promotions to get consumers to try their service. C)They can create a tangible cue to physically represent their service. D)They can offer excellent training and standardized procedures.

Material and service supplier integration

What is an alignment between a firm and their supply chain materials and service providers?

Advertising

What is any form of impersonal (one-way) paid communication in which the company is identified? Public relations; Advertising; Personal Selling

Noise

What is anything that interferes, distorts, or changes the transmission of the informational message?

B) persuading consumers to leave their current brand

What is brand switching? A) reminding consumers why your product is better B) persuading consumers to leave their current brand C)giving them a coupon to switch D)informing consumers about alternate products E)reminding consumers about the competition

division of labor/product Specialization

What is breaking down complex tasks into simpler ones and training specialists to accomplish the tasks?

Channel partnership

What is it called when there is a combined working relationship between all the partners to create the best value for consumers?

A)To move product to consumers directly.

What is the main purpose of channel intermediaries? A)To move product to consumers directly. B) To refill inventory amounts. C)To provide the correct assortment. D)To provide the correct quantity of a product. E)To help with financial selling techniques.

Inform

What is the promotion purpose to convert a consumer need into interest in a new product?

Feedback

What is the receiver's response to a promotional message called?

A new company

What kind of company should invest in a large advertising budget?

personal selling

What part of the promotional mix allows a one-on-one relationship to develop between the consumer and company?

Measurement

What type of integration ensures that each part of the supply chain is accountable for meeting its own goals?

Relationship

What type of integration is when two or more companies have social relationships that guide their interactions?

Technology/planning

What type of integration provides important information such as inventory levels, shipments, and customer data in real time?

quantity

When a channel eliminates the difference between the amount of product produced and the amount an end user wants to buy they are helping overcome what type of discrepancy?

assortment

When a channel member helps overcome a lack of all of the items a customer needs to receive full satisfaction from a product or products they are solving what type of discrepancy?

Add to existing product line

When a company adds new products that is in its area of product offerings is it called:

A)At any stage at which the developing company finds that the new product is likely to be unprofitable

When is the best time to stop the new product development process and abandon the development of a potential new product? A)At any stage at which the developing company finds that the new product is likely to be unprofitable B) After the consumer need has been identified C)Idea generation D)Concept development E)Right before the product launch

Horizontal conflict

When retailers Sneakers R US and Athletic Shoes Shops both had issues with the prices the manufacturer was offering Cheap Mart, it resulted in what type of conflict?

Repositioned

When the Cadillac changes their marketing strategy and image to try and designed cars that were cool and popular, they did what to their product?

E)They can create a teaser ad.

Which is not a way that marketers can persuade a consumer to take action and purchase their product? A)They can offer promotions. B)They are all ways not to make a consumer take action. C)They can offer price discounts. D)They can communicate the product's features and benefits. E)They can create a teaser ad.

Early majority

Which of the five classes of consumers is considered to be 'value shoppers'?

A) Late Majority

Which of the five classes of consumers is the fourth to act and is considered to be 'skeptics'? A) Late Majority B)Laggards C)Early Adopters D)Innovators E)Early Majority

Corporate training

Which of the following is NOT a place strategy for services? Scheduling; Location; Convenience; Corporate training; Number of outlets

Variability

Which of the following is a NOT a characteristic of marketing a service? Heterogeneity; Variability; Perishability; Inseparability ; Intangibility

C)Aversion

Which of the following is not a stage of the consumer adoption process? A) Awareness B) Evaluation C)Aversion D)Trial E)Adoption / Rejection

D)A consumer who makes it to the trial stage has evaluated the product and decided it might suit his needs or solve a problem.

Which of the following is true regarding the trial stage of the consumer adoption process? A)The trial stage is the stage where consumers seek out information about the new product. B) A consumer cannot reject a new product until he has been through the trial stage with it. C) All consumers make it to the trial stage for every new consumer product that is introduced. D)A consumer who makes it to the trial stage has evaluated the product and decided it might suit his needs or solve a problem.

maturity

Which of the following stages consists of a large number of models, declining margins, heavy promotion to keep customers and falling prices?

D)A consumer will go through the trial stage before evaluating a product.

Which of the following statement is false regarding the consumer adoption process? A) If a consumer is not aware of a product, he will not have any interest in it. B) In order for a consumer to adopt a new product, he must first become aware of it. C)A consumer goes through the trial stage before deciding whether or not to adopt or reject the product. D)A consumer will go through the trial stage before evaluating a product. E)A consumer must have interest in a product before he will evaluate it.

E)All of the answers are ways to get consumers' attention

Which of the following would a marketer do in order to get the consumer's attention? A)Use large visual ads to get consumers to enter a shop B)Use the sense of smell to attract a consumer to a taste test of the product C)Create ads that appeal to a consumer's curiousity D)Use teaser ads E)All of the answers are ways to get consumers' attention

electronic retailer

Which retail segment typically offers the greatest variety and quantity of cowboy boots to their customers?

A) All answers are true.

Which statements are true regarding the new product development process? A) All answers are true. B)The new product development process is an expensive process. C)Over eighty percent of potential new products do not make it all the way through the process. D)A product that makes it all the way through the new product development process is more likely to be successfully adopted by its target market. E)The new product development process is a time-consuming process

All 4(specialty, departmental, discount, online)

Which type of retailer sells cowboy boots?

Agents or Brokers

Who makes their profits by collecting a fee or commission based on the amount of sales they are successful at delivering for the producer? Retailers; Wholesalers; Agents or Brokers

D)All answers are true

Why is it important for marketers who are introducing a new product to understand the product adoption lifecycle? A)They must know when the early adopters are beginning to adopt their products so that they can communicate the value of their new product to that group. B)They must know when their new product is being adopted by the late majority so that they can communicate the value of their new product to that group. C)They must find and communicate with the innovators of their new product so that they adopt the new product. D)All answers are true

C)It is important to understand how to best position your retail establishment.

Why is it important to understand the dimensions of retail strategy? A) It is important to offer sales. B) It is important to understand what to stock in the store. C)It is important to understand how to best position your retail establishment. D)It is important to understand the best location for the retailer. E)It is important to understand how your community feels about your store.

D)It helps the consumer view and position the store in their mind.

Why is the presentation of the store so important in the retail marketing strategy? A) It allow consumers to easily shop the store. B) It shows what products are offered to the consumers. C)It is the most expensive piece of the plan and will keep consumers coming back if they like the setup. D)It helps the consumer view and position the store in their mind. E)It makes employees happy if the store looks nice.

D)All answers are true

Why must marketers of new products be aware of the consumer adoption process? A)Potential customers must be given the proper information at every step along the process in order to complete the process and ultimately adopt a new product. B) When a product is first introduced, it is most important to focus their marketing efforts on the awareness stage. C)It is important to know if a majority of customers are not making it to a certain stage of the process so that the marketers can focus their efforts on that stage. D)All answers are true

perishability

__ means can not be stored, warehoused, or inventoried.

Supply chain

__integration is multiple firms in a supply chain coordinating their activities and processes to seamlessly satisfy the customer.

Channel power

__is when certain marketing channel member controls or influences the behavior of other channel members.

B) A consumer problem

he development of all new consumer products starts with: A)The product development stage B) A consumer problem C)A good marketing strategy D)The idea generation stage E)The concept development stage

advertising

plays an integral role in developing market share and sales.

Introduction, growth, maturity, decline

product life cycle stages