Marketing Final Exam

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Which of the following identifies the six major sales force management steps in the correct​ order?

Designing sales force strategy and​ structure, recruiting and selecting​ salespeople, training​ salespeople, compensating​ salespeople, supervising and motivating​ salespeople, and evaluating salespeople

Marketers must make important decisions when developing individual products and services. Which of the following correctly identifies those important​ decisions?

Product​ attributes, branding,​ packaging, labeling, and product support services

Which of the following is a drawback to social​ selling?

Some things cannot be presented over the internet

Which of the following statements is true regarding the promotion​ mix?

The entire marketing mix must be coordinated for greatest impact

Which of the following statements about public relations is​ correct?

The lines between advertising and public relations are becoming more blurred

Marketers use three major pricing​ strategies:

customer​ value-based pricing,​ cost-based pricing, and​ competition-based pricing

Services are characterized by four key​ aspects:

intangible, inseparable,​ variable, perishable

When designing marketing​ channels, companies must determine the number of channel members to use at each level. The three strategies that are available to do this are​ ________ distribution

intensive, exclusive, and selective

According to the​ text, what is perhaps the toughest public policy issue now confronting the direct marketing​ industry?

invasion of privacy

Which form of direct and digital marketing do companies use to engage customers​ anywhere, anytime during the buying and​ relationship-building processes?

mobile marketing

Of product and services​ assortment, price,​ promotion, and​ place, which plays one of the most important roles in aligning target markets and​ positioning?

place

At which stage in the selling process does a salesperson attempt to learn as much as possible about the organization​(what it​ needs, who is involved in the​ buying) and its buyers​ (their characteristics and buying​ styles)?

preapproach

Of the​ following, which is core element of our​ free-market economy?

price competition

Four sales force structures that companies use in sales force design are​:

territorial, product,​ customer, and complex

​____________________ are promotional tools that can be used to attract consumers

​rebates, coupons, price​ packs, and samples

Which of the following statements about major retail trends is NOT​ true?

the green movement has not quite taken hold

​____________________ is the digital version of​ word-of-mouth marketing and the type of marketing in which marketers usually have little control over where messages end up

viral marketing

A company sets a high price on a new product it introduces to maximize revenue from various market segments. Which new product pricing strategy is the company​ using?

​Market-skimming pricing

High​ prices, deceptive​ practices, high-pressure​ selling, shoddy or unsafe​ products, planned​ obsolescence, and poor service to disadvantaged consumers represent which of the​ following?

​Marketing's impact on individual consumer welfare

International marketers and advertisers face challenges not encountered domestically. The most basic issue concerns​

the amount of adaptation required for the unique characteristics of various country markets

Which of the following statements is true regarding channel​ organization?

Channel members are dependent on each other for the overall success of the channel

Which of the following statements regarding marketing logistics is NOT​ TRUE?

Companies are placing less emphasis on logistics and more on constraining costs

Which of the following statements regarding traditional direct marketing forms is​ correct?

Marketers use both outbound and inbound telemarketing

Which of the following statements about the​ omni-channel buyer is NOT​ correct?

Omni-channel buyers do not need the​ bricks-and-mortar environment in which to shop

What are the four areas of environmental sustainability that affect marketing​ strategy?

Pollution​ prevention, product​ stewardship, new clean​ technology, and sustainability vision

Which of the following statements is TRUE regarding the selection of qualified channel​ members?

Producers vary in their ability to attract qualified marketing intermediaries

​_______ is the use of​ online, mobile, and social media to engage​ customers, build stronger customer​ relationships, and augment sales performance

Social selling

Which of the following has changed​ customers' notions of​ convenience, speed,​ price, product​ information, service, and brand​ interactions?

The digital age

Creating false wants and too much​ materialism, too few social​ goods, and cultural pollution represent which of the​ following?

The impact of marketing on society

Marketers must consider external considerations in establishing pricing. Which of the following represents those external​ considerations?

The nature of the market and demand and other environmental factors

____________________ is an organized social movement intended to strengthen the rights and power of consumers relative to sellers

consumerism

When marketers create services marketing​ strategy, they understand they must execute on external marketing but also develop​

internal strategies to motivate employees and interactive marketing to create service delivery skills among service providers

Marketing channels perform many key functions. Which of the following is NOT one of those key​ functions?

manufacturing

Intermediaries are used by most producers to bring products to market. These intermediaries are known as​

marketing channels

Which stage of the product life cycle normally lasts longer than the previous stages and poses strong challenges to marketing​ management?

maturity

The three major groups of wholesalers are:

merchant​ wholesalers, brokers and​ agents, and​ manufacturers' and​ retailers' branches and offices

A​ company's pricing strategy is affected by internal factors such as​

overall marketing​ strategy, objectives, marketing​ mix, and other organizational considerations

Most companies today see their intermediaries as​ first-line customers and focus on​ ________ to forge​ long-term relationships with channel members

partner relationship management

Marketers must consider potential product issues related to social responsibility. Of the​ following, which is NOT one of the product issues associated with social​ responsibility?

product differentiation and positioning

Which of the following is TRUE regarding new types of channel​ organizations?

they provide stronger leadership and improved performance

Closing a sale with a particular customer is a​ short-term ________​ orientation, but the selling process must also take a​________ orientation and look at the long term

transactional; relationship

What are the two ways firms can obtain new products?

Acquisitions and new product development

Which of the following statements regarding the marketing of international products and services is​ correct?

Because markets and consumers around the world differ​ widely, companies must usually adapt their product offerings in different world markets

When a company builds a​ brand, it needs to make important decisions regarding the brand. Of the​ following, which is NOT one of those​ decisions?

Brand licensing opportunities

Which of the following correctly describes the classifications into which products and services​ fall?

Consumer products and industrial products

According to the​ text, what is one of the biggest advantages of social​ media?

Engagement and social sharing capabilities

How do companies apply pricing strategies to accommodate differences in customer segments and​ situations?

They apply a variety of price adjustment strategies

Price ceilings are set by customer perception. Which of the following sets the floor for the price that a company​ charges?

costs

A new product may fail for many reasons. Which of the following is NOT one of​ them?

rapid market acceptance

Which of the following statements is correct regarding marketing communications​ today?

Advertisers are now able to engage smaller customer segments with more​ personalized, interactive content

What are the four steps to designing marketing​ channels, in the correct​ order?

Analyzing consumer​ needs, setting channel​ objectives, identifying major channel​ alternatives, and evaluating the alternatives

Which of the following is a correct statement about the sustainable marketing​ concept?

A​ company's marketing should support the best​ long-run performance of the marketing system

Companies have to think carefully when considering price changes. They must consider which of the​ following?

Buyer and competitor reactions

___________________________ are the five guiding principles of sustainable marketing

Consumer-oriented marketing, customer value​ marketing, innovative​ marketing, sense-of-mission​ marketing, and societal marketing

Which of the following correctly describes​ omni-channel retailing?

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

The American Marketing Association has developed a code of ethics for marketers based on three ethical norms. What are these​ norms?

Do no​ harm, foster trust in the marketing​ system, and embrace ethical values

Many companies are now establishing guidelines and policies helping managers deal with marketing ethics. Of the​following, which is a correct statement regarding these​ actions?

Ethics and social responsibility require a total corporate commitment

Which of the following statements about personal selling is​ correct?

Many customers are unable to distinguish the salesperson from the company

Which of the following pricing strategies would a company use to attract a large number of buyers quickly and win a large market​ share?

Market-penetration pricing

Of the​ following, which is NOT one of the​ product-mix pricing​ situations?

Penetration pricing

Which of the following is a benefit of direct and digital marketing for​ buyers?

Sense of brand engagement and community

What are the four important decisions made when developing an advertising​ program? List them in order

Setting​ objectives, setting the​ budget, developing​ strategy, and evaluating effectiveness

Attracting and holding customers presents great challenges and decision points for retailers. Of the​ following, which is NOT one of the areas in which they face major​ decisions?

Social media and visibility decisions

__________________ are the main forms of direct and digital marketing

Traditional direct marketing tools and new digital marketing tools

Which of the following is correct regarding most​ firms' direct marketing​ efforts?

Traditional tools are still heavily used and very important

The only reason for a wholesaler to exist is to​ ___________________ by increasing the efficiency and effectiveness of the entire marketing channel

add value

All products have a life cycle. The sales of a typical product follow​ __________________, which is made up of five stages

an S-shaped curve

In​ general, sales promotion campaigns should​

be customer relationship building

Which of the following terms correctly describes the positive differential effect that knowing the brand name has on customer response to the product or the​ service?

brand equity

When companies treat customers fairly and make certain they understand pricing and pricing​ terms, this leads to​

building strong and lasting customer relationships

At which step does a company perform a review of the​ sales, costs, and profit projections for a new product to determine whether the new product is likely to satisfy​ objectives?

business analysis

​Omni-channel retailing goes beyond just helping​ in-store customers as they​ cross-shop on mobile devices and requires​

carefully integrating the entire range of available shopping channels

​_______________________ permits companies to tailor offers and content to needs and interests of carefully defined​segments, which in turn helps develop​ long-lasting customer relationships as well as resulting in immediate responses

direct marketing

New product development consists of eight sequential steps. Which step reduces the number of ideas based on the​company's criteria?

idea screening

Personal selling can be very effective in complex selling situations because it involves​ ________ interactions and engagement between salespeople and individual customers

interpersonal

The totality of a​ company's product lines and items offered to customers is known as its​

product mix

When Microsoft or Apple sells software as a​ package, it is engaging in what type of​ pricing?

products bundle pricing

Companies use​ ______________ to build good relations with​ consumers, investors, the​ media, and their communities

public relations

The trend of​ ________ has resulted in different types of retailers now selling the same products at the same prices to the same consumers

retail convergence

The sustainable marketing concept focuses on​ _____________________, unlike the marketing​ concept, which focuses on fulfilling​ day-to-day needs of customers

socially and environmentally responsible actions

​________ calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs

sustainable marketing

The four major functions of marketing logistics are​:

warehousing, inventory​ management, transportation, and logistics information management

__________________ are the five promotion mix tools used by marketers to communicate customer value

​Advertising, public​ relations, personal​ selling, sales​ promotion, and direct and digital marketing

Which of the following is the correct definition of a​ product?

A product is anything that can be offered to a market for​ attention, acquisition,​ use, or consumption that might satisfy a want or need

Marketers now have access to fragmented media and promotion mixes to reach diverse audiences. To prevent creating a communications​ hodgepodge, what must marketers​ do?

Adopt the concept of integrated marketing communications

Which of the following sets of characteristics correctly classifies​ retailers?

Amount of service​ offered, the breadth and depth of product​ lines, relative prices they​ charge, and how they are organized


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