Marketing Exam 3

Industrial infrastructure

________ is an economic factor.

Online marketing

________ is marketing via the Internet using company websites, online ads and promotions, email, online video, and blogs.

Closing

__________ is the sales step in which a salesperson asks the customer for an order.

Contract manufacturing is __________.

a joint venture in which a company contracts with manufacturers in a foreign market to produce its product or provide its service

Business promotion is a sales promotion tool used to __________.

generate business leads, stimulate purchases, reward customers, and motivate salespeople

Pleasing products __________.

give high immediate satisfaction but may hurt consumers in the long run

Inside sales force

Which of the following refers to salespeople who conduct business from their offices via telephone, online and social media interactions, or visits from prospective buyers?

Sales promotion

Which term refers to short-term incentives to encourage the purchase or sales of a product or a service?

Market nicher

Which type of firm serves small segments that the other firms in an industry overlook or ignore?

Desirable products

__________ give both high immediate satisfaction and high long-run benefits.

Direct-mail marketing

__________ involves sending an offer, announcement, reminder, or other item directly to a person at a particular address.

Customer value marketing

__________ is a principle of sustainable marketing that states a company should put most of its resources into customer value-building marketing investments.

Licensing

__________ is entering foreign markets by developing an agreement with a licensee in the foreign market.

Approach

__________ is the sales step in which a salesperson meets the customer for the first time.

Deficient

__________ products have neither immediate appeal nor long-run benefits.

The sales step in which a salesperson ________ is known as handling objections.

seeks out, clarifies, and overcomes any customer objections to buying

Trade promotion

__________ is a sales promotion tool used to persuade resellers to carry a brand, give it shelf space, promote it in advertising, and push it to customers.

Engaging in a full frontal attack

__________ is a strategy for market challengers.

According to the American Marketing Association, companies should develop code of ethics programs in order to ________.

teach managers about important ethical issues and help them find the proper responses

market leaders

Expanding the total market is a strategy for __________.

Sociocultural

Which type of factor is language considered to be?

Digital and social media marketing consists of ________.

using digital marketing tools such as websites, social media, mobile apps and ads, online video, e-mail, and blogs that engage consumers anywhere, anytime via their digital devices

customer-centered company

A __________ is a company that focuses on customer developments in designing its marketing strategies and delivering superior value to its target customers.

E-mail marketing

_______ refers to sending highly targeted, highly personalized, relationship-building marketing messages via e-mail.

embracing ethical values

According to the American Marketing Association's code of ethics, ________ means building relationships and enhancing consumer confidence in the integrity of marketing by affirming these core values: honesty, responsibility, fairness, respect, transparency, and citizenship

doing no harm

According to the American Marketing Association's code of ethics, ________ means to consciously avoid harmful actions or omissions by embodying high ethical standards and adhering to all applicable laws and regulations in the choices we make.

Which of the following describes consumerism?

An organized movement of citizens and government agencies designed to improve the rights and power of buyers in relation to sellers

Which of the following describes the whole-channel view?

Consists of designing international channels that take into account the entire global supply chain and marketing channel, forging an effective global value delivery network

Which of the following describes a marketing website?

Engages consumers to move them closer to a direct purchase or other marketing outcome

direct and digital marketing

Engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships is known as ________.

Which of the following describes deceptive packaging?

Exaggerating package contents through subtle design, using misleading labeling, or describing size in misleading terms

Which of the following is an example of deceptive pricing?

Falsely advertising "factory" or "wholesale" prices

Which of the following describes e-tailers?

Firms that sell products and services directly to final buyers via the Internet

subsistence

In a(n) ________ economy, most people engage in simple agriculture.

overall cost leadership

In the __________ strategy, the company works hard to achieve the lowest production and distribution costs.

Which of the following describes sales force management?

Involves analyzing, planning, implementing, and controlling sales force activities

Which of the following is true with regard to salutary products?

Low immediate appeal but may benefit consumers in the long run

mobile marketing

Marketing messages, promotions, and other content delivered to on-the-go consumers through mobile phones, smartphones, and tablets are known as __________.

Which of the following best describes direct-response television marketing?

Marketing via television, including infomercials and interactive television advertising

market nichers

Multiple niching is a strategy for ________.

societal marketing concept

The __________ considers the future welfare of consumers.

sustainable marketing concept

The __________ meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

marketing concept

The __________ recognizes that organizations thrive from day to day by determining the current needs and wants of target customers and fulfilling those needs and wants more effectively and efficiently than competitors do.

Which of the following is true of emerging economies?

There is rapid economic growth and industrialization.

What is the purpose of the strategic planning concept?

To consider future company needs

A competitor-centered company is a __________.

company whose moves are mainly based on competitors' actions and reactions

In the differentiation strategy, the company __________.

concentrates on creating a highly differentiated product line and marketing program so that it comes across as the class leader in the industry

Straight product extension involves __________.

marketing a product in a foreign market without making any changes to the product

The principle of sustainable marketing that __________ is called innovative marketing.

requires a company to seek real product and marketing improvements

Sense-of-mission marketing is a principle of sustainable marketing __________.

that states a company should define its mission in broad social terms rather than narrow product terms

Competitor analysis is best described as __________.

the identification of key competitors; assessing their objectives, strategies, strengths and weaknesses, and reaction patterns; and selecting which competitors to attack or avoid

global firm

A(n) ________ is a firm that, by operating in more than one country, gains R&D, production, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors.

economic community

A(n) ________ is a group of nations organized to work toward common goals in the regulation of international trade.

Which of the following describes product adaptation?

Changing a product to meet local conditions or wants in foreign markets

What is real-time marketing?

Direct marketing that links brands to important moments and trending events in customers' lives

Which of the following describes benchmarking?

Involves comparing the company's products and processes to those of competitors or leading firms in other industries to identify best practices and find ways to improve quality and performance

Which of the following describes viral marketing?

The digital version of word-of-mouth marketing, including videos, ads, and other marketing content that is so infectious that customers will seek it out or pass it along to friends

Closing is the sales step in which a salesperson __________.

asks the customer for an order

Customer value analysis __________.

determines what benefits target customers value and how they rate the relative value of various competitors' offers

The sustainable marketing concept __________.

meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs

Competitive marketing strategies are primarily used for__________.

positioning the company against competitors and giving the company the strongest possible strategic advantage

Deceptive promotion includes __________.

practices such as misrepresenting the product's features or performance or luring customers to the store for a bargain that is out of stock

Personal selling is best defined as ________.

presentations by the firm's sales force for the purpose of engaging customers, making sales, and building customer relationships

A branded community website __________.

presents brand content that engages consumers and creates customer community around a brand

According to the American Marketing Association's code of ethics, fostering trust in the marketing system means ________.

striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process as well as avoiding deception in product design, pricing, communication, and delivery of distribution

In the focus strategy, the company __________.

targets its effort on serving a few market segments well rather than going after the whole market

Population size

__________ is considered a demographic characteristic.

Internet fraud

_______ is a broad category that encompasses identity theft and financial scams.

market-centered company

A __________ is a company that pays balanced attention to both customers and competitors in designing its marketing strategies.

market follower

A __________ is a runner-up firm that wants to hold its share in an industry without rocking the boat.

Which of the following describes Internet fraud?

A broad category that encompasses identity theft and financial scams

Which of the following describes a customer-centered company?

A company that focuses on customer developments in designing its marketing strategies and delivering superior value to its target customers

What are blogs?

Online forums where people and companies post their thoughts and other content, usually related to narrowly defined topics

What occurs as part of the operational excellence strategy?

The company provides superior value by leading its industry in price and convenience

Which of the following describes spam?

Unsolicited, unwanted commercial e-mail messages

Which of the following describes telemarketing?

Uses the telephone to sell directly to customers

Real-time marketing

What is the name for direct marketing that links brands to important moments and trending events in customers' lives?

Perceived obsolescence

__________ is continually changing consumer concepts of acceptable styles to encourage more and earlier buying.

Catalog marketing

__________ is direct marketing through print, video, or digital catalogs that are mailed to select customers, made available in stores, or presented online.

Follow-up

__________ is the sales step in which a salesperson checks in with the customer after the sale to ensure customer satisfaction and repeat business.

Preapproach

__________ is the sales step in which a salesperson learns as much as possible about a prospective customer before making a sales call.

Direct investment

__________ refers to entering a foreign market by developing foreign-based assembly or manufacturing facilities.

A market follower is __________.

a runner-up firm that wants to hold its share in an industry without rocking the boat

Product invention is __________.

creating new products or services for foreign markets

Which of the following describes product leadership?

A company's provision of superior value by offering a continuous stream of leading-edge products or services

joint ownership

A cooperative venture in which a company creates a local business with investors in a foreign market firm, who share ownership and control is known as __________.

What is communication adaptation?

A global communication strategy of fully adapting advertising messages to local markets

Which of the following describes adapted global marketing?

A global marketing approach that adjusts the marketing strategy and mix elements to each international target market, which creates more costs but hopefully produces a larger market share and return

Which of the following describes management contracting?

A joint venture in which the domestic firm supplies the management know-how to a foreign company that supplies the capital; the domestic firm exports management services rather than products

What happens in the presentation step of the personal selling process?

A salesperson tells the "value story" to the buyer, showing how the company's offer solves the customer's problems

What is phishing?

A specific type of identity theft that uses deceptive e-mails and fraudulent online sites to fool users into divulging their personal data

What is event marketing?

Creating a brand-marketing event or serving as a sole or participating sponsor of events created by others

Which of the following describes omni-channel retailing?

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

Social media

What is the name for the independent and commercial online social networks where people congregate to socialize and share messages, opinions, pictures, videos, and other content?

Selling process

What is the name for the steps that salespeople follow when selling?

Territorial sales force structure

Which of the following assigns each salesperson to an exclusive geographic territory in which that salesperson sells the company's full line?

Market challenger

Which of the following is a runner-up firm that is fighting hard to increase its market share in an industry?

Market leader

Which of the following is the firm with the largest market share in an industry?

Industrial

________ economies are major importers and exporters of manufactured goods and services.

Following closely

________ is a strategy for market followers.

Standardized global marketing

________ refers to a global marketing strategy that basically uses the same marketing strategy and mix in all of the company's international markets.

Product sales force structure

________ refers to a sales force organization in which salespeople specialize in selling only a portion of the company's products or lines.

Customer sales force structure

________ refers to a sales force organization in which salespeople specialize in selling only to certain customers or industries.

A salesperson

________ represents a company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building.

Team selling

________ uses people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts.

Consumer promotion

__________ is a sales promotion tool used to boost short-term customer buying and involvement or enhance long-term customer relationships.

Product sales force structure refers to a sales force organization ________.

in which salespeople specialize in selling only a portion of the company's products or lines

Customer sales force structure refers to a sales force organization ________.

in which salespeople specialize in selling only to certain customers or industries