Marketing Final Quiz Questions
T/F demographic variables are generally more difficult to measure than most other types of variables
False
T/F most producers sell their goods directly to final users
False
T/F the amount of test marketing needed is the same for each new product
False
T/F the new marketing communications model consists if promotional mixes that are designed to make traditional mass-media obsolete
False
the ________ established a free trade zone among the united states mexico and canada
NAFDA
which of the following promotional mix approaches involves a producer promoting a product to different channel members who in turn promote the product to customers
a push stragety
A product is defined as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. T/F
TRUE
T/F the product-market expansion grid, like the BCG matrix, is used to identify growth opportunities
TRUE
T/F A firms marketing department must partner with another company departments to produce superior value for customers
True
T/F a vertical marketing system consists of producers, whole salers and retailers acting as a unified system
True
T/F barter involves the direct exchange of goods and services
True
T/F commissions and bonuses are variable amounts of compensation
True
T/F in the new product development process the purpose of idea generation is the create a large number of ideas and the purpose of the next set of stages in the process is to reduce that number
True
T/F marketers must be careful to guard against stereotypes when using age and life-cycle segmentation
True
T/F marketing researchers can conduct their own searched of secondary data sources by using commercial online databases
True
T/F product, price, place, promotion make up the elements of a firm's marketing mix
True
T/F some marketer now rely almost entirely on digital and social media
True
T/F tariffs and duties are often used to force favorable trade behaviors form other nations
True
T/F the rapid increase in the number of people who telecommute has created a booming small office/home office market
True
T/F under oligopolistic competition the market consists of only a few large sellers
True
T/F: Salespeople represent customers to a company and represent a company to customers.
True
_____ are the form human needs take as they are shaped by culture and individual personality
Wants
Marketing communications mix ________ refers to any short-term incentive that encourages the purchase or sale of a product or service
advertising
________ is any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponser
advertising
which of the following best describes product positioning
arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
which of the following generational groups account for a third of the U.S population but half of all consumer spending
baby boomers
Dividing buyers into groups based on their knowledge, attitudes, uses, or responses to a product is called ________ segmentation.
behavioral
A ________ is defined as a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service.
brand
In terms of packaging functions, Tiffany & Co.'s robin egg blue boxes ________.
create immediate consumer recognition
the team based new product development approach saves time and increases effectiveness because departments work closely together in ________
cross-funtional teams
according to the text, ________ are the most important actors in a company's microenvironment
customers
a product life cycle had five distinct stages: product development, introduction, growth, maturity and ________
decline
Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a(n) ________.
demand
________ is the study of human population in terms of size, density, location, age, gender, race, occupation and other statistics
demography
Mary Kay Cosmetics and Amway sell their products through home and office sales parties, online Web sites, and social media. Both companies use a(n) _______ channel to distribute their offerings.
direct
T/F pricing strategies usually remain the same as a product passes through its life cycle
false
the first generation Apple ipod was introduced in 2001 and sold for $500. the following year a mini version was introduced for $250. Apple initially used a ________ strategy to price their digital music innovation
market - skimming
Consumers' needs and wants are fulfilled through ________.
market offerings
under armor increasing its advertising spending and offering an ever-increasing range of styles and colors in its original appeal line is and example of ______ strategy
market penetration
Dividing a market into several sections of customers is known as ________.
market segmentation
________ is the process of dividing a market into distinct groups of buyers who have different needs, characteristics or behavior
market segmentation
_______ refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter
market targeting
the ________ concept hold that achieving organizational goals depends on knowing the needs and want of target markets and delivering the desired satisfactions better then competitors do.
marketing
________ are sets interdependent organizations that help make the product or service of a company available for use by consumers or business users
marketing channels
Marketing the same product to a huge customer base without any customization is referred to as ________.
mass marketing
Technology is a way of life for ________, the largest generational group.
millennials
A ______ is a purposeful, specifying what an organization wants to accomplish in their larger environment
mission statement
Appliances Galore is continually updating its line of refrigerators to reflect market trends and customer needs. Although the product class is in the maturity stage of the product life cycle, they maintain healthy sales of their line of refrigerators by continually ________.
modifying the product
Using a(n) ________ positioning strategy, companies can attack the more-for-more strategy of another firm by offering a brand of comparable quality at a lower price.
more-for-less
Which of the following terms best describes the process of designing and producing a container or wrapper for a product?
packaging
in production mix, ________ occurs when a firm's sales force makes individual presentations to consumers for the purpose of promoting sales and building customer relationships
personal selling
which of the following types of promotion tools requires a considerable degree of personal interaction with a customer
personal selling
________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
positioning
In which step of the selling process does a salesperson learn as much as possible about a prospective customer before making a sales call?
preapproach
________ data consists of information collected for the specific purpose at hand
primary
which component of the marketing mix refers to the goods-an-services combination a company offers to its target market
product
________ consists of creating something new to meet the needs of consumers in a given country
product invention
establishing prices for razor blades that must be used with a razor blade system is known as ________ pricing
product line
Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the product lines make up Clorox's ________.
product mix
outbound logistics refers to moving ________
products from the factory to resellers and ultimately to customers
in promotion mix _________ performs the functions of building a good rapport with entities outside the company, building up a good corporate image, and handling unfavorable rumors and events
public relations
Major appliances, furniture, and clothing are typical examples of ________ products.
shopping
the presentation stage of selling process most likely involves
showing how a company's products an solve a customer's problems
The use of traditional business marketing concepts and tools to create behaviors that will benefit individual and societal well-being is called ________ marketing.
social
the fastest-growing sales tend is ________ that involves the use of online, mobile and social media to engage customers, build stronger customer relationships and augment sales performance
social selling
Managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers is known as
supply chain management
Dollar General profitably appeals to families with more modest means. The retailer's approach is most likely referred to as ________.
target marketing
a tax on imported product designed to raise revenue or protect domestic firms is referred to as a
tariff
a company that sells only one product line to one industry with customers in many locations would typically use a ________
territorial sale-force structure
According to the five-step model of the marketing process, the first step in marketing is ________.
understanding the marketplace and customer needs and wants
Shampoo marketers segment buyers as light, medium, or heavy product users. This is an example of ________ segmentation.
usage rate
Compared to adapted global marketing, standardized global marketing ________.
uses the same marketing mix worldwide
Providing extra amenities to differentiate and support high-priced products is referred to as ________ pricing.
value added
A ________ is made up of a company, its suppliers, distributors and ultimately, customers who "partner" with each other to improve the performance of the entire system
value delivery network
A ________ is made up of a company, its suppliers, its distributers, and its customers who partner with each other to improve the performance of the entire system
value delivery network
JetBlue's promise to put "You Above All" by "bringing humanity back to travel" is their ________.
value proposition
costs that change directly with the level of production are referred to as _______ costs
variable
a ________ is considered a marketing intermediary
wholesaler
________ is the only element in the marketing mix that produces revenue
Price
________ refer to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible.
Services
involves a review of the sales, costs, and profit projections for a new product to determine whether they satisfy a company's objectives
business analysis
________ advertising would most likely results in attack ads between competitors
comparative
The stage in which product ideas are presented to groups of target consumers physically or symbolically is referred to as ________.
concept testing
_________ markets consist of individuals and households that buy goods and services for personal use
consumer
_________ is a method of going global in which a company makes agreements with producers in the foreign market to produce its product or provide its service
contract manufacturing
refers to reducing the business portfolio by abandoning products that no longer fit the company's overall strategy
downsizing
__________ is the act of obtaining a desired object from someone by offering something in return
exchange
High-end luxury brands like Bentley for cars, Louis Vuitton for handbags, and Rolex for watches use ________ distribution, giving a limited number of dealers the sole right to sell products in a specified geographic territory.
exclusive
The simplest way to enter a foreign market is through ________.
exporting
Gulf Coast, a wholesale shrimp distributor, groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Gulf Coast tailors a different set of advertisements and promotions. The supplier is segmenting its market according to ________.
geographic location
In which of the following steps of the selling process does a sales person seek out clarify and overcome any disapproval to buying
handling objectives
a channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity is referred to as a
horizontal marketing system
the new product development process usually starts with ________
idea generation
which type of market segmentation is generally used by marketers who sell luxury products targeted to the affluent segments of a population
income
A product line is most likely too short if managers can ________.
increase profits by adding items
the object of ______ advertising is to build primary demand
informative
which of the following is an economic factor that affects the pricing decisions of a company
interest rates
Orienting and motivating customer-contact employees and supporting service people to work as a team to provide customer satisfaction is known as ________ marketing.
internal
______ is the final step in the marketing research process
interpreting and reporting the finding
Companies like 3M, Google, and Sony have ________ that encourage employees to develop new ideas
intrapreneural programs
In which stage of the product life cycle will promotional expenditures be significantly high in an attempt to create consumer awareness of a product and its features?
introduction
which of the following is a characteristic of an inside sale force
it conducts business from an office via telephone
_______ is a method of entering a foreign market by associating with foreign companies to produce or market products or services
joint venturing
salespeople need to know how to _______ leads, that is identifying good leads and screening out poor ones at the beginning of the selling process
qualify
a country may place limit on the volume of imported citrus fruit that is allowed. this is an example of a
quota
________ are offers of a trial amount of a product
samples
the national tree company offers resellers half-price reductions on artificial christmas trees if they purchase them in July. this is an example of a ________
seasonal discount
In a SWOT analysis ________ refers to unfavorable external factors or trends that may present challenges to performance
threats
movie theaters charge matinee pricing during the daytime, and resorts give weekend and seasonal discounts. This is illustrative of a ________ pricing strategy
time - based
the responsibility for setting a company mission, objectives, broad strategies, and policies primarily lies with it's ______
top management
