Marketing Final Study guide

The ability to obtain digital information is referred to as

Accessibility

Slow feedback, high absolute-dollar outlay, and difficulty in measuring effects on sales are disadvantages of which promotion mix ingredient?

Advertising

By the turn of the 20th century, the population of the United States had shifted to three large racial and ethnic groups. These groups are

African-American, Hispanics, and Caucasion

If Coca-Cola sets its 12-pack price to match the price charged by Pepsi, Coke is suing which of the following pricing methods?

Competition based

Rolls Royce targets a very exclusive high income market. Toyota, on the other hand, targets economy markets, the environmentally conscious market, and the higher income market. The Rolls-Royce has adopted___ targeting strategy. Toyota adopted____ strategy

Concentrated; differentiation

Research designed to verify insights through an objective procedure to help marketers make decisions it's called ___ research

Conclusive

Your company is in the final stages of deciding whether to launch a new product that you have been testing for the last six months. While the CEO of your company is very optimistic about the potential for the product, he is skeptical by nature. He has asked you to conduct one last round of market research that will give him greater confidence in the products prospects. Which of the following types of marketing research should you conduct to satisfy the CEOs concerns?

Conclusive research

Which of the following issues is an ethical issue in marketing research?

Confidentiality issues in marketing research

Shopping for detergent, Zachary looks at Tide, Fresh Start, persil, and All and chooses the one that is on sale. These 4 brands make up his ____ set.

Consideration

Credit card companies maintain staff of professionals whose primary responsibility is to monitor the activity on card holders' accounts to spot potential fraudulent purchases or stolen cards. These staffs are employed to prevent which of the following

Consumer misbehavior

Hainz uses various techniques such as coupons, free samples, and consumer contests to encourage consumer to try its products. All these marketing activities are considered___

Consumer sales promotion methods

Children often achieve____ by observing parents and older siblings in purchase situations and then through their own purchase experiences

Consumer socialization

The public is becoming more aware of how marketers' activities affect the welfare of consumers and society. As a result, more firms are working to

Create a responsible approach to developing long-term relationships with customers and society

Your company is planning to launch a new line of women's athletic apparel in the next 6 months. In order to create some enthusiasm in the market for your new products, you are working with an outside agency on the promotional ads that will run during some popular sporting events. Which of the following should be the primary objective of these promotional ads?

Create awareness

The test marketing stage

is a sample launching of the entire marketing mix.

Lucy always wanted to live in downtown San Francisco. For 10 years she has worked as a manager at an investment banking firm, where she is well paid. however; the most affordable condo is still more that $1 million more than she wants to pay. Although Lucy has the money to purchase a condo, she cannot justify herself paying so much money for one person-even for a condo in the middle of downtown San Francisco. Lucy___ part of the market condos in downtown San Francisco because she ____ to buy.

is not; lacks the willingness

The unification of Europe through the European Union ____

permits virtually free trade amount the member nations of the EU

Organizations that sell products to industrial markets on a few wholesalers tend to focus their promotion efforts on____.

personal selling

What is ne of the benefits of industry classification systems like NAICS

they provide a consistent means of categorizing industries

According to the text, physical distribution cost trade-offs enable firms to _____.

utilize resources for greatest cost-effective

Tesla vehicles have the unique characteristics of being a totally electric, premium luxury vehicle. The marketing manager wants to focus on these unique aspects rather than comparing the vehicles directly to competitors. He wants Tesla to be seen in a totally different light. Based on these objectives, he would want to position the vehicles ____

To avoid competition

Which of the following is a major goal of integrated marketing communications?

To send a consistent message to consumers

You are the general manager of the manufacturing products division of a diversified manufacturing company in Des Moines, Iowa. You primarily produce matching products for sale to wholesalers around the world. However, you periodically get requests from other divisions and your company to purchase your products. You treat these purchase requests the same as a purchase request from a non-affiliate entity. You sell your machining products to other internal divisions at a price that is equivalent to a market-based cost. This is an example of which of the following types of business pricing?

Transfer pricing

What is the primary distinction between a line extension and a product modification?

With product modification, the original products is replaced in the product line while both the old and the new products remain in the case of line extension

Glenwood is considering a markup pricing basis, with the cost for office visit plus vaccines at $45. If Glenwood were to add a markup of 33.3 percent of the costs, its price would be _____.

$60

Which of the following sequence of activities should you schedule in order to be most consistent with the hierarchy of the traditional strategic planning process?

1- develop the company's mission and goals 2- develop business unit strategies 3- complete a SWOT analysis for the company 4- develop functional area goals and objectives

When a business has a relatively small number of customers, a preferred method of forecasting is___.

A customer forecasting survey

Changing people's attitudes toward a firm and its marketing program is___.

A long expensive, and difficult task that may require extensive promotional campaigns

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customer must able to perceive that a modification has been made, and ____

A modification should make the product more consistent with customers desires

Telluride Ski Resort in Telluride, Colorado is a world-class ski destination. Taylor is a newly-hired manager of digital media and electronic marketing for Telluride. Taylor remembers reading about a new trend in video marketing, using _________ to engage and create a community of customers.

Amateur filmmakers

Which of the following is not a public relations tool?

Annual report

One of the fastest-growing areas in mobile technology is the creation of ____ that help consumers to access more information about businesses

Applications(apps)

Business decisions made in creating a marketing mix___

Are you only as good as the organizations understanding of the needs of the target market

The 3 major types of reference groups are ___

Aspirational, dissociative, and membership

What is the final step in establishing an implementation timetable?

Assigning responsibility for completing each activity

Cognitive, affective, and behavioral are the three major components of

Attitudes

As Georgina enters Audio Jetz car electronic department, she is asked by a salesperson if she has seen the new plug-in cell phones with coffee warming app. she answers that she didn't know that this type of app for cars was available. Based on this information, she is now in what stage of the product adoption process for this item

Awareness

______ are online marketplaces where buyers and sellers from around the world can exchange information, goods, services, ideas, and payments

B2B e-commerce

All companies have a responsibility to ______ so they can provide a return on investment to their owners and investors, create jobs for the community, and contribute goods and services to the economy.

Be profitable

High-volume data collected from social networks, RFID, retailer scanning, purchases, logistics, and production that marketers can use to discover unique insight and make more knowledgeable marketing decisions is best characterized as____

Big data

Carlos' knowledge of the correct gas mileage is an example of the ____ component of his attitude toward the Toyota, while Alicia's feelings about the children in the commercial being happy in the Toyota van were an example of the _____ component of her attitude.

Cognitive; affective

If Tiara O'Neal were given total marketing responsibility over Diet Cherry Coke, she would hold the position of ____ manager

Brand

Ralph Lauren, a designer of fine clothing, authorized Dan River Mills to market a line of sheets under the Ralph Lauren name, this arrangement is an example of ____

Brand licensing

McDonald's golden arches are a classic example of a

Brand mark

The focus of personal selling is shifting from selling a specific product to ____

Building long-term relationships with customers

You were just hired to manage a new-product development process at a consumer products company. In your first meeting with the CEO since being hired, she recounted to you the numerous times in the past when the company launched products it thought would be successful. However, it later came to realize that the products had a detrimental impact on the company's overall cost and profit mix. She wants you to revamp the company's new product development process to prevent this from happening in the future. Which of the following steps in the new product development process should you overhaul in order to address the CEOs concerns?

Business analysis

Products are classified as being business or consumer products according to the

Buyers intended use of the product

Before the release of the newest iPhone by Apple Inc., An apple juice brand used an actor dressed up like an apple to hold a sign encouraging those waiting in line to try its juice. The brand thought this would be a creative event that would spark an interest in Apple iPhone fans as they stood waiting in line with little else to do. This is an example of_______.

Buzz marketing

Some grocery stores collect data on competitive prices

By using a comparison shoppers

Which of the following is not a business product?

Calculators bought to help individuals complete their personal federal income tax forms

The director of marketing for 3M tapes tells the rest of the management team, "When it comes to our transparent packaging tape unit, our strategy will be to use funds generated here to support our venture and the industrial bonding market". This strategy indicates that the packaging tape unit falls into which of the following classifications?

Cash cow

Chadwick sends its customers booklets containing its product offering and allows them to place orders on the telephone, through the mail, or online. Chadwick is primarily a(n)____

Catalog marketer

A single leader who controls and organizes a marketing channel is called a

Channel Captain

A Sony laptop that has an "Intel" logo on its keyboard is an example of _____

Co-branding

To fully appreciate what an effective marketing concept means to the firm, the marketer must first understand that ___ is a major focus of the marketing concept. This in turn should enable the firm to ___. Ultimately, this all leads to ___

Customer satisfaction; earn long-term profits; increased stockholder value

Johnson Floors sells all types of floor coverings to contractors and other businesses. It keeps a collection of information about all of its clients that can be easily assessed on the company's computer system. This collection is information is called a ___

Database

When influencers fail to disclose a connection to a brand they promote, they can be charged with ____.

Deceptive advertisingq

When are marketers least likely to change a product's design, style, or other attributes?

Decline

Which of the following variables should marketers use in relating to sales? What type of forecast method will they be using to relate the variables to cells trends?

Demographic; regression analysis

Consumer confidence is at low during periods of___

Depression

Hershey's foods Corp offers a line of candy that includes Kit Kat, Mr. Goodbar, Krackle, Hershey's Kisses, Reese's Peanut Butter Cups, Rollo, and Twizzlers. These candies best illustrate Hershey's product mix

Depth

Firestone is a manufacturer and marketer of tires for new passenger cars. In recent years, the company's business has declined because of the overall decrease in consumer demands for new cars. In this case, the demand for Firestone's tires products is said to be ____ since it depends on the demand for new cars

Derived

______ uses the Internet, mobile, and interactive channels to develop communication and exchanges with customers

Digital marketing

_____ are more consumer-driven than traditional media

Digital media

A marketing channel is defined as a group of individuals and organizations that ____.

Directs the flow of products from producers from producers to customers

Instacart is a service similar to Uber in that it uses an app and promotes the sharing economy concept. Consumers can use the app to contact independent contractors, who will travel to grocery stores and pick up groceries. They will then travel to the consumers homes to deliver the groceries. Groceries are often marked up to account for the delivery, and customers often pay the drivers tips. However, they receive the benefit of not having to worry about grocery shopping. This service capitalizes on which variable of the e-marketing mix?

Distribution

Which of the following lists the levels of involvement in Global marketing from the lowest to the highest

Domestic marketing, domestic exporting, multinational marketing, regional marketing, globalized marketing

Tia Left new electronic products, but she also wants to make sure she gets a good value for her money. Therefore, she waits a few months after a product is introduced to see whether all the Kinks are worked out. In the meantime, she reads ratings and reviews. She also turns to her friend Jimmy, who is one of the first people to adopt and test out new products. She relies heavily on Jimmy's recommendations. When she is satisfied as to its value, she usually buys a product. Tia most likely fits into which category?

Early majority

Brand name, product characteristics, packaging, and labeling are some of the ____ marketing mix variables to standardized for international markets.

Easiest

When Dunkin Donuts decided to expand into the international markets of India, Japan, and Argentina, management realized that there would be significant differences in the standard of living, credit, buying power, and income distribution in those countries. Dunkin donuts is currently examining the ______ forces in its environmental analysis

Economic

Which of the following refers to the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing

Electronic marketing

Prudential Insurance uses "the rock" symbol to communicate stability and security to customers. This is Prudential's attempt to help customers better understand its services by

Emphasizing tangible cues in promoting the service

As Kaitlyn prepares the script for a radio commercial for her boutique, she is engaging in the ____ stage of the communication process

Encoding

Sales usually start to decline during the __________ stage of the product life cycle.

End of maturity

The forces that affect foreign markets may differ dramatically from those affecting domestic markets this makes a careful _____ a critical part of a successful International marketing strategy

Environmental analysis

Coca-Cola's collection of this information is an example of ___ while the assessment of its impact on the potential for the new "Freestyler" is an example of___

Environmental scanning; environmental analysis

Higher prices can be used competitively to...

Establish a product's premium image

You have spent the last 20 years of your career in various marketing channel management roles with a variety of companies. One of the things you have learned in that channel conflict can be very destructive to all members of the marketing channel. Which of the following actions would you take to ensure that channel conflict does not occur in your current role?

Establish clearly defined roles and responsibilities for each member of the channel

The first step in a strategic performance evaluation is to___

Establish performance standards

Suppose that Garrison Distributing has been told that it cannot carry the beers made by Anheuser-Busch because it also carries the products of the competitor, Miller Brewing. Garrison is then told that it must drop the Miller brands in order to carry the Anheuser-Busch products. If this Were true, Anheuser-Busch would be engaging in which of the following channel management practices?

Exclusive dealing

Old El Paso salsa believes that sales are increasing because consumers see salsa as a healthier alternative to more traditional dips and sauces. The company develops a research study to test his hypothesis. It is designed an online survey and sent it to its customers to find out the reasons for purchasing salsa. Old El Paso in engaging in ___ research.

Exploratory

Brandon ordered 16 dozen fishing lures from Strike for $375. when he gets the invoice, he is furious that $25 and freight charges have been tackled onto his bill because he thought the price included freight cost. Brandon should have been certain that the order terms were _____

F.O.B destination

The forces that other people exert on one's buying behavior are called social influences. These come from reference groups and opinion leaders, social classes, culture and subcultures, roles, and

Family

Which of the following is an example of a trade sales promotion method?

Free merchandise

Systems such as Acorn and PRIZM provide companies with lifestyle and demographic information about neighborhoods throughout the United States. This information is used to aid ___.

Geodemographic segmentation

Alps Ski Co is looking for a new market for both its brick and mortar retail stores and its catalog division. Alps Ski Co would most likely us a(n)___ base for market segmentation of its stores and a(n)___ base for market segmentation of its catalog division

Geographic; behavioristic

Which type of business market tends to have the most complex buying procedures?

Government

Carlson's little brother Colby joined the Boy Scouts recently. Carson notices that in addition to wearing the Boy Scouts uniform, Kobe has been better about keeping his everyday clothes neat and clean, has been searching online for camping gear, and has become interested in green products. Caron believes that the Boy Scouts are now a reference group for Colby because he____

Has taken on many of the values, attitudes, or behaviors of group members

Laws, government regulations, and industry self-regulation ____ deceptive promotion

Have helped decreased

If a manager tries to form territories with equal sales potential, the territories will usually be unequal in geographic size; this will cause the salespeople with larger territories to _____

Have to work longer and harder to generate a certain sales volume

Saresh owns the Change Now, a salon specializing in unique hair needs of minority populations. Recently, Saresh has been trying to improve the quality of service received by her customers. However, she has experienced difficulty in finding ways to standardized and control the salon quality of service. Saresh's problem illustrates which of the following unique feature of services

Heterogeneity

Greenspeace is an environmental organization with the mission to "ensure the ability of the Earth to nurture life and all diversity". It engages in much advocacy related to environmental issues including climate change, deforestation, overfishing, and more. Greenpeace's main product is most likely a(n)____

Idea

Panera is introducing some o its product into supermarkets, vending machines, college campuses, and other locations to increase its product availability and convenience. One reason Panera is doing so is to...

Increase customer value

R.J Reynolds markets several brands of cigarettes, including Vantage, Camel, Winston, and Salem. This is an examples of which type of branding policy?

Individual

Jenny works for a company that sells rotisseries for chicken and other foods. She answers phone calls from customers who see ads in trade magazines and call to order the product. Jenny is considered a(n)____

Inside salesperson

____ advertising supports organizational images, ideas, and political issues while ____ advertising touts the uses, features, and benefits of goods and services.

Institutional; reminder

If Domino's uses digital media along with more traditional newspaper ads to create a more synchronized and consistent message for customers, it is most likely engaging in___

Integrated marketing communications

Convenience products typically use ____.

Intensive distribution

____ involves developing and performing marketing activities across national boundaries

International marketing

During which stage of the products life cycle is Pioneer advertising most appropriate?

Introduction

Sales of Schwinn's apartment-size exercise machine have experienced a steady climb; however the profits have been negative. The Schwinn exercise machine is most likely in the _____ stage of the product life cycle

Introductionq

Which of the following statements is true about team selling

It is appropriate for expensive, complex, high-tech business products

Which of the following is not a characteristic that should be possessed by a marketing objective?

It should be open ended in terms of time

_____ that can allow almost real-time measurement and evaluation should be embedded at the onset of a social media strategy

Key performance indicators

Which of the following statements about labeling is false

Labels do not have to disclose nutritional information

The 3 most widely recognized types of consumer decision-making are___

Limited problem-solving, extended problem solving, and routinized response behavior

____ is the development of a product that is closely related to one or more products in the firm's existing product line but is designed specifically to meet somewhat different customer needs.

Line extension

The kinds of products being sold and the availability of public transportation are both factors that influence a retailer's decision about

Location

Which of the following tactics would typically be employed when a product is in the growing stage of its life cycle?

Lowering prices after development cost have been recovered

The trade alliance that includes Brazil, Argentina, Chile, and other countries is known as.

MERCOUSUR

The annual Consumer Reports magazine rating of your company's flagship product was just released. Generally speaking the rating was good but not great. Based on the consumer comments that were referenced in the rating, it appears that many consumers have a negative view of the product's convenience and safety attributes.​ In order to address these consumer concerns your company should consider doing which of the following?​

Make functional modifications to the product

Firestone notices that when the number of tires that is sells increases from 1000000 to 1000001 total revenue rises $35. the $35 represents the firm's ____

Marginal revenue

Verizon implemented a program of texting its current customers to find out what changes they would like to see in the services provided. The Firm is exhibiting characteristics associated with which of the following orientations?

Market

Which of the following sales forecasting techniques would generally be more suitable for estimating sales of a new product

Market tests

Strategic planning requires____ to facilitate the process of assessing opportunities of threats from competitors

Marketing research

An organizations business goals should be derived from its___

Mission statement

Most business purchases can be classified as belonging to one of three types:

Modified, rebuy, new-task, or straight rebuy

Hayden, a buyer for a medium size company, is assessing the value of competing software products for use in his firm. Which of the following is NOT a customer benefit considered in his determination of this product's value?

Monetary price

The internet has radically changed the way traditional marketing used the marketing mix to attract and retain customers. Now e-marketing strategies require the marketer to re-examine the characteristics of the four components of the marketing mix. With to e-marketing, which of the following statements about the four components of the marketing mix is true

Most traditional promotions can be enhanced by using digital media

Buyers' actions are affected by one or more internal energizing forces geared toward satisfying needs, which are called

Motives

Volkswagen market it's Routan to large families, it's R32 race-car to men, and its Jetta to young singles. What targeting approach is Volkswagen using?

Mulit-segmented

The us of multiple distribution channels that complement organizations' brick-and-mortar stores with websites, catalogs, and apps where consumers can research products, read other buyer' reviews, and make actual purchases is known as ____

Multi-channel reatailing

In a franchise agreement, which of the following is a franchisse not responsible for?

National advertising campaign

Which of the following can thwart tampering and shoplifting?

Packaging

The primary psychological influences on consumer behavior are:

Perception, motives, learning, attitudes, personality, and lifestyles

Dylan is interested in determining how customers consider his firm's dietary products compared with its competitors. He begins surveying customers and asking them to state what they think about the products and brands in the dietary industry based on the dimensions of effectiveness and affordability. He will use this feedback to create "ideal points" for what consumers desire and dietary products. He will then compare these "ideal points" with his firm's products as well as other brands in the industry to see how they measure up. Dylan is engaging in ______.

Perceptual mapping

The Transportation Division of the GE Corporations is located in a small city that has limited economic growth at this time. Due to the condition of the local school system, GE contributed $2 million to repair and revive it, stating that GE believed in education for the community. This action would imply the GE is in which level of the pyramid of social responsibility?

Philanthropic

John Deere, maker of large construction equipment in the United States, would like to better understand factors that would affect its ability to export its products to various countries. Which of the following forces determine how trade barriers affect John Deere's marketing efforts?

Political and legal

Courtney prefers to buy Pantene shampoo for colored hair; however if that is not in stock she will buy L'Oréal or Garnier Fructis. Courtney's level of brand loyalty can be described as _____.

Preference

The newest version of a product like Bose headphones is likely to use_____, while the newer version of Red Bull is likely to use____.

Price Skimming; penetration pricing

Swiss-based Nestlé has taken a global approach to marketing its chocolate products. Which of the following is most easily standardized?

Product

Lindsey's company plans to release a new version of its signature television set. The television will have more advanced features, including better sound quality and high definition. They plan to discontinue the older version once the newer version is launched. This is an example of a ________

Product modification

Larry is developing his list of potential new retail customers by accessing the Yellow Pages online. Here he finds the contact information for every motorcycle store in the 48 contiguous states, and eliminates those who currently are his customers. Larry is involved in which step of the personal selling process?

Prospecting

Which of the following is the best example of disruptive innovation

Razer Blade

Your company has a product that is struggling and its market. However, the product appears to have some strength left that can be exploited. Which of the following product deletion actions would be most appropriate for the product?

Reduce the price and implement a run-out strategy

Which type of business markets, individuals or groups purchase purchase products for one of three purposes. These purposes are____

Resale, direct use in producing other products, and use in general operations

A new variety of Cheetos is initially introduced in Fort Worth, Texas; Raleigh, North Carolina; Chicago, Illinois; and Spokane, Washington. After this initial sucess, Frito-Lay markets the Doritos in those entire states, then the adjacent states, and finally the entire country. Frito-Lay is using a ____ for its new variety of Doritos.

Rollout approach

Marilyn went to Sam's Wholesale Club to shop for a party she was hosting on the weekend. She know that she could buy larger quantities of food items than she normally did, and they would also be much less expensive. She checked everything off her list and proceeded to the checkout lines. Passing a display of fresh flowers, she thought, " wouldn't those be nice for the party?", She selected one of the bouquets and placed it in her car. Marilyn has most likely engaged in___ when selecting the food for her party, and ___ when selecting the flowers.

Routinized decision making; compulsive response behavior

During the new-product development process, two of the stages designed to reject possible product ideas that are likely to fail are ___, which analyzes a product idea to see if it matches an organization objectives and resources, and ____, which involves asking potential buyers about their attitudes and initial buying intentions regarding the product.

Screening; concept testing

Jenny is the purchasing manager for the local public school system. Recently, the school received a large grant to make technology-related purchases to enable students to have better access to computers and utilize the internet. Jenny is working with the teachers, and they recently developed product specifications that are necessary or required for tablet or laptop computers. What is the next stage in the purchase decision process for Jenny and the teacher?

Search and evaluate possible products and suppliers

Bloomingdale's wants to learn about its consumers attitudes towards online purchases. There are numerous studies that are available about consumers and online buying. But Bloomingdales believes its customers might be different from the usual online consumer profile, so they decide to conduct their own study. If Bloomingdales does it on study it would collect ___data

Secondary; primary

Which of the following is not one of the major categories of consumer market segmentation variables?

Situational Variables

Which environmental factor is exemplified by the customer trend that consumers were no longer willing to wait 7 to 10 days for a "build-to-order" computer and led Dell to modify its business model to become a "make-to-stock" manufacture?

Sociocultural

Which of the following offer the narrowest range of products

Specialty line wholesalers

Miranda has a great idea for a new shoe store. When she first conceived that idea, she believed her target market would be the entire shoe market. However, as she learned more about marketing, she realized that different types of consumers were looking for different types of footwear. She also learned that segments of the population would be much more profitable than others. Miranda has used a number of variables to divide the market into different groups, including those that use shoes as a status symbol, those that use shoes for sports, and those who wear shoes simply because they are comfortable. At what stage of the target market selection process is Miranda currently?

Step 3: Develop market segment profiles

The FTC can issue a cease-and-desist order, which is an injunction to ___

Stop doing whatever cost the complaint

Nuhitzu believes it has the technological expertise to produce communication systems that will be leaders around the globe. Boston Electronics is widely regarded as having excellent management systems and superior marketing programs. To utilize these strengths, the two firms might form a(n) ___________ to work together on a worldwide basis.

Strategic alliance

Which of the following statements is incorrect

Strategic planning begins at the marketing level and proceeds through business-unit and corporate levels

The fact that Southwest Airlines has a history of being able to retain its employees is a(n) ___ in its SWOT analysis. This low turnover creates more knowledgeable and satisfied employees, a potential___

Strength; Competitive advantage

Harley Davidson Harley's Owner Group (HOG) helps to foster strong relationships between riders and their motorcycles, giving it a(n)--- over the other motorcycle manufacturers

Sustainable competitive advantage

Sprint encourages customers to post reviews on its company website or Facebook page in the hopes of increasing the company's _____

Target Market

A firm is trying to determine whether is would be advantageous to adopt a new computer system with advanced software. It is also examining trends in the industry to determine the impact that adopting this computer system might have on customers in society at large. The firm is engaging in___

Technology assessment

The successful marketer understands that the key to her success is their relationship her firm is able to develop with current customers and potential customers. moreover, her goal is to achieve the full potential of each of these relationships for the benefit of the firm. This Marketer clearly understands...

That customer loyalty leads to increasing long-term profitability for the firm

Larrisa is a concert promoter who works for singer Kanye West. She works very hard to make sure most of Kanye's concerts are sold out because she understand the concept of perishability, which means ______

That if the tickets are not sold, seats will remain empty and they can never be sold to anyone again

Which of the following would be considered an institutional buyer?

The United Way

Which of the following statements is true about break-even analysis?

The break-even point, the firm's sales revenues equals the sum of its fixed and variable costs

The group of people within a business who are involved in making business buying decisions is referred to as ___

The buying center

You are reading the quarterly financial report of one of your competitors. You expected to see their total sales revenue declined because they had a large price increase during the quarter. You were certain that the price increase would lead to an equivalently large decreases in their total sales revenue. To your surprise, their total sales revenue actually increased in the quarter. Based on this information, which of the following explanations could explain why the competitors total sales revenue increased?

The demand for the company's product is inelastic, so total sales revenue increases when prices are raised

Personal selling is changing in today's marketplace due to several factors. Which of the following is not a factor that impacts today's promotion through personal selling?

The difficulty in keeping customers because they are fickle

Which of the following is true about the market environment?

The effects of marketing environment forces can be difficult to predict

More than half of the research of technology created is paid for by___

The federal government

With respect to the classifications of number of competitors and barriers to entry, which one of the following statements is correct?

The monopoly and oligopoly structures should be reversed

You will give the keynote address at the annual meeting of the American Manufacturing Association. You realize most of the attendees think marketing is just advertising. So, you decide to start your keynote address by defining what marketing is in order to set the proper context for your speech. You define marketing as:

The process of creating, distribution, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers

The trade agreement the links Mexico, Canada, and the United States into one economic market is called which of the following?

USMCA

A reatailer is and organization that purchases products for the purpose of reselling them to ____.

Ultimate consumers

Stanley works at a large Electronics firm. He needs a new type of software and sends in a purchasing request. The request gets approved. Greg works as a purchasing agent and is in charge of selecting the suppliers and negotiating the terms of purchase. However, before he does so he consults with Marcus, an engineer who works in IT and is highly familiar with latest software. In this case, Stanely is the____, Greg is the ____, and Marcus is the ____.

User; buyer; influencer

If Safeway foods advertises 2-liter bottles of Pepsi for $.89 to generate store traffic that will purchase other items at regular prices the grocery is using?

a price leader

odd number pricing is-

a psychological pricing strategy

At very large firms, advertising campaigns are likely performed by a(n) ______, while in small firms advertising campaigns are most likely to fall under the responsibility of _____.

advertising department; one or two individuals

The supply chain includes_____

all entities that facilitate product distribution

When designing a packaging, which characteristics is least important?

an association with the company's brand mark

The result of an inventory stock-out usually results in____

an increase in lost sales

Decreasing sales, increasing expenses, or decreasing profits

are examples of symptoms that point to larger problems

Break-even analysis is a tool that marketers are likely to employ during the _____ stage of the new-product develop process

business analysis

Vinny, a sales representative, is returning from a week on the road. One of his activities this week is to develop ___, which are designed to identify the customers called on and to present detailed information with those clients

call reports

Michael's, PetSmart, and Staples are all examples of

category killers

Milton Brandley/ Parker Brothers are producers of many board games, such as Monopoly, Battleship, Yahtzee, and Clue. The company has posted online cash rewards for consumer reviews of their games. In doing so, Milton Bradley/Parker Brothers is striving to utilize

consumer-generated marketing

Kevin works in the public relations department of his company. He sends a news release about a new product offering to several newspapers and television stations. Kevin knows from past experience that even when the media use his new releases, they often release the information at inopportune times. They will also sometimes cut out what Kevin believes are the most important points to make the news fit. However, Kevin accepts these disadvantages because free publicity offers the advantage of_______.

credibility

An important goal of physical distribution is reducing the time it takes to complete____.

cycle time

The main focus of marketing information system is on?

data storage and retrieval

Your firm manufactures motorcycles for the consumer market. You purchase raw materials to build the motorcycles from a variety of suppliers in the U.S. and abroad. The volume of your raw materials purchases is a function of the customer demand for your firm's motorcycles. Which of the following best describes the type of demand your firm has for these raw materials?

derived demand

After the advertising budget is determined, the next step in creating an advertising campaign is ____

developing the media plan

The first stage in the development of any advertising campaign is___

identifying the advertising target audience

The three levels of brand loyalty from strongest to weakest are____

insistence, preference, recognition

Shopping products have a _____ inventory turnover and needs_____ distribution outlets than convenience goods

lower;fewer

Which of the following bases for pricing is most commonly used by retailers

markup pricing

A shopping center that contains stores owned by manufacturers who make special effort not to conflict with traditional retailers is a(n)_____

outlet shopping center

Eavin Singh makes an appointment to visit with a new dermatologist in town because of a recent bad sunburn. When he arrives at the dermatologist office, Eavin notices a foul odor in the air, worn floor coverings, cluttered rooms that have paint peeling from the walls, and poor lighting. However, the other patients in the waiting room were talking about how much they like the doctor. While Eavin viewed the dermatologist as competent, Eavin decided not to visit him again even though the dermatologist recommended a follow-up. Which situational influences are most likely to have affected Eavin's decision?

physical surrondings

The strategic location of products or product promotion within entertainment media content to reach the products target market is known as product____

placement

The i-house's reduction of energy use, renewable resources as materials, "pod" customization, reduction of construction waste, and tax abatement status is/are examples of reaction to which environmental forces

political, economic, sociocultural, and technological

The 3 general types of media schedules are _____

pulsing, continuous, and flighting

Dial Soap's advertising slogan "Aren't you glad you use Dial? Don't you wish everybody did?" exemplifies the use of _____ advertising.

reinfocement

If a company's products require differentiation at the point of purchase, it will most likely use____.

selective distribution

The consumer buying decision process involves ___ stages. The first stage is ____, and the last stage is____.

six; problem recognition; purchase

_____ do not engage in paid internet advertising as much due to smaller budgets

small businesses

What is a potential disadvantage of direct selling

some customers view direct selling negatively

In the Gillette advertisement that claims, "Gillette, the best a man can get", Gillette is the communication_____.

source

Lexus has designed its commercial to appeal to more affluent car drivers as its____

target audience

The step of the personal selling process in which a salesperson contacts a potential customer is called

the approach

Which of the following is not an advantage of franchising for the franchisee?

the franchisee gives up a certain amount of control when participating in a franchise agreement