marketing finale

Which of these is NOT a trend in the changing market environment?

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While Omar was focused on developing his new line of gaucho pants for men, he wasn't able to focus on his planned new line of socks. When custom designed socks became a popular new product, Omar realized he had taken a(n) _____ on the gaucho pants.

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Which of the following strategies involves offering products that are unrelated to other existing products produced by the organization?

.Diversification

The purpose of a value proposition is to provide the:

.It communicates the customer benefits provided by a product or service.

_____ ensures that a product meets its specifications in a variety of environments determined by the company.

Alpha testing

According to the personal value equation, which of the following would cause the value of an offering to decrease?

An increase in hassle and a decrease in benefits received

Vertical market managers are found only in _____ markets.

B2B

_____ not only tests whether the offering works as advertised, but it also tests the offering's delivery mechanisms, service processes, and other aspects of marketing the product.

Beta testing

_____ can be either nonprofit or for-profit businesses.

Business buyers

_____ are groups of people within organizations who make purchasing decisions.

Buying centers

_____ occurs when a firm's new offering eats into the sales of one of its older offerings.

Cannibalization

The strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience is known as _____.

Content Marketing

Designer goods producers can utilize_____ to combat knockoffs in the marketplace.

Electronic product codes

If the U.S. Department of Homeland Security mails free packaging guidelines to airline travelers, it is:

Engaged in marketing as a non-profit organization.

_____ do not show a strong primary motivation.

Experiencers

Selective perception is the process of:

Filtering process of exposure to organize and interpret information

________decisions are made more frequently than_____decisions.

Forecasting; sourcing

A car, a house, and a boat are examples of what type of product?

High-Involvement

_____ refers to the actual transportation and storage of materials and products.

Logistics

Which of the following types of marketing refers to selling the same product to all consumers?

Mass Marketing

A firm's _____ states the purpose of the organization and why it exists.

Mission statement

Companies have begun to change how they spend their marketing budget and are spending

More with online advertising and less on newspapers

_____ refers to products, or parts, sold by one manufacturer to another that get built into a final product without further modification.

Original equipment manufacturing offerings

_____ refers to a belief that the way to compete is a function of product innovation and reducing production costs, as good products appropriately priced sell themselves.

Production oriented

_____ combines the lifestyle traits of consumers and their personality styles with an analysis of their attitudes, activities, and values to determine groups of consumers with similar characteristics.

Psychographics

Wilbur and Sons, Inc. is a company that mines for iron ore. The ore is purified and sold to steel manufacturing companies. Which of the following types of offering does Wilbur and Sons offer?

Raw materials offerings

The sub-segment of the Hispanic market that is characterized as containing individuals who are English dominant, free thinkers, and multicultural is known as _____.

SYLrs

Magazines like Consumer Reports and websites like Amazon.com that allow buyers to rate products aid consumers engaged in which step of the buying process?

Search of information

_____ refers to an approach to offerings that integrates the physical product, attendant services, and price into the total offering.

Service-dominant

The Worthington National Bank utilized an advertising campaign that played to consumers' _____ in relation to banks.

attitudes

The generation that accounts for 50% of U.S. consumer spending is known as _____.

baby boomers

When customers participate in the decision making for the product they are purchasing, they are providing input to marketers of

beta tested products

A cloud-based digital ledger that can be used for supply chain tracking and provides a secure way to make and record transactions is

blockchain

A symbol or logo used to identify a brand is known as a _____.

brand mark

A _____ site is a website in which a business buys products from multiple sellers that go there to do business with the firm.

buy-side

In _____ the roles of the buyers and sellers are reversed.

buy-side auctions

The firms that a company partners with to actively promote and sell a product as it travels through its marketing channel to users are referred to by the firm as its _____.

channel members

Channel conflicts occur because:

channel members have their own goals.

According to the AMA's definition of marketing, _____ is a component of marketing which involves describing offerings and learning from customers.

communicating

A firm might use any of the following ways to enter a foreign market EXCEPT:

company leadership.

GammaTech Inc. has released a new MP3 player. The device is packaged along with a set of compatible headphones and an A/C adapter, and a two-year warranty. Such an offering would be known as a(n) _____.

complete product

Stores place items like gum, breath mints, snacks, batteries and bandaids in the cashier's lane at the grocery store to encourage a(n) _____buy.

convenience

Delivering what is promised, when it was promised, and the way it was promised are key drivers of _____.

customer satisfaction

Organizing the data that identifies where prospective customers are and where coupons are used (or not used) is

geocoding

The stage in the product life cycle when promotions focus on the specific benefits the product offers and its value relative to competitive offerings is known as the _____ stage.

growth

A _____ occurs between organizations of the same type.

horizontal conflict

Purchasing a product with no planning or forethought is called _____.

impulse buying

Metal boxes that are used to ship consumer goods on cargo ships are known as _____.

intermodal containers

Heavy costs are associated with the _____ stage of the product life cycle.

introduction

A company must balance an offering's _____ risk against the offering's _____ risk.

investment; opportunity

Customers who are good at generating new product ideas or applications of products are called _____.

lead users

Demographic trends, political and legal regulations, the costs associated with natural resources - these are all considered part of the _____ environment.

marginal

Gina developed a new, healthy version of her oatmeal raisin granola bars. She packaged some as a 'healthy' choice for breakfast and others as 'new and improved'. Her customers purchased the new and improved version twice as much as the healthy version. Gina conducted a _____.

market test

Personnel in _____ are responsible for studying markets and customers in order to understand what strategies or tactics might work best for firms.

marketing research

The stage in the product life cycle when the market is saturated with competitors is known as the _____ stage.

maturity

Forming close, personal relationships with customers and giving them exactly what they want is known as _____.

one-to-one marketing

Consumers respect _____ and often ask for their input before they buy goods and services.

opinion leaders

Direct investment refers to:

or foreign direct investment, is designed to acquire a controlling interest in an enterprise. Direct investment provides capital funding in exchange for an equity interest without the purchase of regular shares of a company's stock

A _____ is a two-dimensional graph that visually shows where a product stands relative to competitors.

perceptual map

Mary ran into a store dedicated to the newest cat foods offered by her favorite pet food provider. She had so much fun interacting with the free samples and toys that she brought her cat Fluffy to the store the next week it was no longer there. Mary had most likely found a(n) _____.

pop-up store

As companies do not want their products to be another "face in the crowd", marketers should be sure to _____ their product.

position

Distributing a product exclusively to a limited number of organizations under strict terms can help:

prevent a company's brand from deteriorating.

A _____ strategy involves creating new products or services for existing markets.

product - development

Offerings are _____.

products and services designed to deliver value to customers

Customizing advertisements over the public address system on the subway based on the upcoming stop/destination is utilizing _____.

proximity marketing

Remodeling stores to be more attractive to customers or adding specialty food stations is a way for grocery chains to _____.

remain competitive in the mature stage

When a producer of a product restricts the price a retailer can charge for it, this is known as a _____.

resale price maintenance agreement

Which of these tasks is not a part of the duties of professional buyers?

researching product ingredients

Consumers engage in _____, which are automatic purchase decisions based on limited information or previously gathered information.

routine response behavior

How a person sees himself/herself is known as _____.

self-concept

As a new entrant in the job market, a person should develop their own value proposition that

shows how they can contribute to that company

Employee theft of inventory is referred to as:

shrinkage

An agreement formed by two or more firms, with similar or dissimilar products, to deliver their products via a channel is a

strategic channel alliance

Organizations that are involved in the process of producing, promoting, and delivering company products to its user but are not active participants in selling of the products are referred to as _____.

supply chains

The ability to deliver offerings to customers is changing for some products because _____ allows the continual delivery of new or upgraded value offerings to the customer.

technology

Track and trace systems help companies anticipate events:

that could disrupt the supply chain.

Firms want to do business with firms that are responsible because:

that is what consumers are increasingly demanding.

Organizations and functions that mine, make, assemble, or deliver materials and products from manufacturer to consumer are referred to as _____.

the supply chain

A _____ approach to determining the value of an offering would include the time and effort related to owning a product, in addition to the benefits received, the price, and hassle.

total cost of ownership (TCO)

The current era of marketing can be described as a time when the focus on serving customers more completely is changing complete companies into new forms and core products, known as the _____.

transformative era

Situational factors that affect people's buying behavior include all of the following EXCEPT:

type of customer (final customer vs. business customer).

Extracting value from waste and using it to create new products in known as:

upcycling

_____ are characterized by selling products at a discount to people who pay an annual membership fee to join them.

warehouse clubs

One of the functions of _____ and _____ is to break large quantities of products down into smaller units.

wholesalers; distributors

As the demand for MP3 players increased, so did the demand for headphones. This is an example of _____.

Joint demand

_____ are people who may or may not use the product but have experience or expertise that can help improve the buying decision.

Influencers

_____ are the people within the organization that first see the need for the product.

Initiators

Lead time is closely related to:

demand forecasting.

Strategic planning is a process that

developing and maintaining a strategic fit between the organization's goals and capabilities, and its changing marketing opportunities.

A _____ is a warehouse where the emphasis is on processing and moving goods on to wholesalers, retailers, or consumers.

distribution center

A fashion house purchased a music company. This is an example of a _____ strategy.

diversification

A price skimming strategy often attracts consumers who are _____.

early adopters

In terms of a manufactured offering, using the same technology platform as another product can be:

effective and less expensive.

Firms like Target and Walmart are enhancing their image by rating their suppliers on the _____ of producing their products and sharing that information with their customers.

environmental sustainability

_____ are characterized as being motivated by self-expression and tend to be young, enthusiastic, and compulsive consumers.

experiencers