Marketing Final

More than 80 percent of McDonald's restaurants worldwide are owned and operated by franchisees. This illustrates a(n)_________ marketing system.

Contractual VMS

Which of the following is a commercial source of product information?

Dealer and manufacturer websites and mobile sites

Vertical conflicts in distribution channels are conflicts that occur between_______

Different levels of the same channel

Which of the following would be considered an upstream partner in a company's supply chain?

A firm that provides technical expertise in the production of a product

Unsolicited and unwanted commercial email is referred to as________

spam

Specialty products are consumer products and services that customers generally buy

with minimal effort

Which of the following terms best describes the process of designing and producing a container or wrapper for a product?

Packaging

rather than just creating and placing TV ads or print ads or snapchat branded stories, many marketers now view themselves more broadly as _______ managers

Content marketing

Jeff is in the process of buying a new car. He carefully analyzes the features that he wants in a car, and perceives significant differences in price, quality, and features among three of his favorite models. He rates the models on each factor and ranks them in the order of his preference. To which of the following stages of the buyer decision process will Jeff most likely proceed next?

Purchase decision

many companies are taking a ______ approach viewing quality as an investment and holding quality efforts accountable for bottom-line results.

Return-on-quality

Which type of retailer is much larger than a regular supermarket and offers a large assortment of routinely purchased food products, nonfood items, and services?

Superstores

Business advisory services such as legal or advertising are classified under which category of industrial products?

Supplies and services

________ is a method of gathering primary data that involves asking people questions about their knowledge, attitudes, preferences, and buying behavior.

Survey research

How has the internet most likely affected direct and digital marketing?

The expenditures on direct and digital marketing have increased

Big data refers to the huge data sets generated by sophisticated information generation, collection storage, and analysis technologies

True

Customer involvement has a positive effect on the new product development process and product success.

True

Digital marketing through online, mobile, and social media provides a sense of brand engagement and community

True

Which of the following sets the price ceiling for a products pricing?

consumer perceptions of value

Pat thought he had received the best deal on his new car. Shortly after the purchase, Pat started to notice certain disadvantages of his new car as he learned more about other cars available Pat is experiencing_________

post-purchase dissonance

Which of the following is the primary purpose of branded community websites?

Creating customer product-engagement

Product planners must build a(n) _____ product around the core benefit and actual product by offering additional consumer services and benefits

Augmented

Which of the following is most likely true about the the digital age with regards to marketing?

Digital networks allow marketers many ways to build customer relationships

Dividing Buyers into groups based on their knowledge, attitudes, uses, or responses to a product is called _____ segmentation.

Behavioral

A(n) _________ is a descriptive thought that a person has about something

Belief

Which of the following is true of marketing through blogs?

Blogs are inexpensive yet personal way to connect with consumers

Experimental research is best suited for gathering _________ information

Causal

Which of the following is an industrial product categorized under materials and parts ?

Cement

________ marketing involves the engaging directly with carefully targeted individual customer communities to both obtain an immediate response and build lasting customer relationships

Direct and digital

A(n) _______ becomes a motive when it is directed toward a particular stimulus object

Drive

Which of the following is a transaction site?

Ebay

Controlling the ingredients that go into certain products and reducing the level of advertising "noise" are part of proposals relating to the consumer's right to ________.

Expect a product to perform as claimed

A market researcher wants to find the cause-and-effect relationship between using organic ingredients in food and the subsequent consumption by customers. He invited ten respondents to his research firm and asks them to tase identical dishes. The dishes were prepared in a similar manner, but one has natural herbs for flavoring, and the other has artificial flavors. this is an example of_______

Experimental research

Consumers rarely compare shopping products before purchasing them.

False

Social class is determined by a single factor, such as income, education wealth, and other variables

False

Customers at Carat, a premium jewelry store, are encouraged to make an appointment before a visit so that a customer service representative is assigned to them. These representatives help every customer make a purchase that meets his or her needs and budget after considering numerous options. The different styles and special features of the jewelry are explained to each customer to aid the purchase decision. In this case, Carat is an example of a(n) ________. A) self-service retailer B) off-price retailer C) full-service retailer D) supermarket E) convenience store

Full-service retailer

The Primary Goal of marketing is to

Generate profitable revenue

Producers of popular beverages often partner with global music channels to target consumers through a variety of promotional events and advertisements. This approach to marketing is referred to as ________ segmentation.

Intermarket

Susan Hart, the manager of a children's boutique, collects data from her monthly records of sales, costs, and cash flow. In this case, Susan is making use of ________ databases.

Internal

Which of the following is true or viral marketing?

It is the digital version of word-of-mouth marketing

Rage, a leading motor vehicle manufacturer, introduces a new superbike model. It invites proposals from independent dealers who are willing to set up exclusive showrooms that only sell Rage's superbikes. Chosen dealers will sell and service the superbikes, and Rage will oversee national advertising. This is most likely an example of a(n) ________. A) administered vertical marketing system B) horizontal manufacturing marketing system C) manufacturer-sponsored retailer franchise system D) manufacturer-sponsored wholesaler franchise system E) direct marketing system

Manufacturer-sponsored retailer franchise system

the first Target store opened in 1962. Its initial strategy was to set prices low to attract a large number of buyers quickly and win a large market share. This is referred to as______

Market penetration pricing

Which of the following is the right order of the steps that companies generally follow in designing a customer-driven marketing strategy ?

Market segmentation, market targeting, differentiation, and positioning

When the size, purchasing power, and profiles of a market segment can be determined, the market segment is said to be_____

Measurable

In a marketing communications mix, ______ refers to any short-term incentive that encourages the purchase or sale of a product or service.

Promotion

Omni-channel retailing aims to create a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping

True

Stephanie Archer has been saving her money to buy a BMW convertible. Archer has spent hours on the BMW Web site choosing the exterior and interior colors and studying the various options and models. In this case, Archer has been using BMW's marketing Web site.

True

Clenzo is a company that provides house cleaning services in major urban and suburban areas. Marketers at Clenzo developed a short, humorous video promoting the company's services and hope that customers who see the video will be so entertained that they will pass the video on to their friends and colleagues. The marketers at Clenzo are using techniques to facilitate ________.

Viral Marketing

Online visitors cant buy anything at ESPN.com. Instead, the site creates a virtual experience for sports enthusiasts and fans that can be customized to meet their needs. This is most likely an example of a(n) _______

branded community website

The team-based new product development approach saves time and increases effectiveness because departments work closely together in ________.

cross-functional teams

Changes in technology and the explosive growth of direct and online marketing are having a profound impact on the nature and design of marketing channels. One major trend is toward ________ insofar as product or service producers cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones.

disintermediation

Which of the following account for the largest portion of firms' online advertising spending?

display and search related advertisements

The demand curve shows the number of units the market will buy in a given time period at similar prices

false

pricing strategies usually remain the same as a product passes through its life cycle

false

When demand hardly changes with a small change in the price of a product, the demand for the product is best described as ________.

inelastic