Marketing test 3 chapter study guides 9,10,11,14

What is a primary difference between an industrial distributor and a manufacturers' agent?

A manufacturers' agent does not acquire title nor usually take possession of the products whereas an industrial distributor does.

Which of the following characteristics distinguish online media from traditional marketing?

Adressability, Interactivity, Accesability, Connectivity, and Control

____ involves consumers' ability to be connected with marketers along with other consumers.

Connectivity

Which of the following types of distribution allow distribution and consumption to occur at the same time?

Digital distribution

A commonly used computerized means of integrating order processing with production, inventory, accounting, and transportation is

Electronic Data Interchange

Which of the following regulates and makes rules for privacy, fraud, and misappropriation of copyrighted intellectual property, as well as other illicit internet activities?

Federal Trade Commission

A special form of licensing in which one company grants another company the right to market its product and name in accordance with its standards in exchange for a financial commitment is called

Franchising

Order processing, inventory management, materials handling, warehousing, and transportation are the activities that define

Logistics

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

Mercosur

The agreement between the United States, Canada, and Mexico that merges these three countries into one marketplace is called

NAFTA

The practice of contracting with an organization to perform some or all business functions in a country other than the country in which the product will be sold is known as

Offshore outsourcing

What are the three primary tasks of order processing?

Order handling, order entry, order delivery

Another name for the European Union is

The common market

Multichannel distribution is characterized as

The use of a variety of marketing channels to ensure maximum distribution

A company not involved in manufacturing that links buyers and sellers in different countries is usually referred to as a

Trading company

If a newly formed country wanted to increase its international trade and reduce worldwide tariffs, it would most likely try to become a part of

WTO

A product line is defined as

a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations.

Marketers' ability to obtain digital information is referred to as

accessibility

The ability of a marketer to identify customers before they make a purchase is called

addressability

The supply chain includes

all entities that facilitate product distribution

A product mix is best described as

all products offered by a firm

The gross domestic product is

an overall measure of a nation's economic standing.

According to the text, a product is defined as

anything the customer receives in an exchange

Smartphones contain ____ that help consumers access more information about businesses.

applications

The ____ is the difference in value between a nation's exports and its imports.

balance of trade

____ are web-based journals in which writers can editorialize and interact with other internet users.

blogs

According to your text, ____ are small technology-based firms operating in international markets almost immediately after their establishment and realizing as much as 70% of their sales outside the domestic home market.

born globals

The role of an export agent is to

bring buyers and sellers from different countries together and collect a commission for arranging sales.

A public warehouse is a

business that leases storage space and related facilities for distribution to other firms.

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

channel captain

When one company in a marketing channel has the ability to influence another member's goal achievement, the company has

channel power

When a product tries to capitalize on the brand equity of two separate brands, marketers are using

co-branding

A distinguishing factor between a brand name and a brand mark is that a brand name

consists of words

Which of the following describes a company hiring a foreign firm to produce a designated volume of its product to specification?

contract manufacturing

____ refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information.

control

One of the most important benefits of e-marketing is the ability of marketers and

customers to share information

A goal of logistics is to reduce ____ or how long it takes to complete a process.

cycle time

When influencers fail to disclose a connection to a brand they promote, they may be charged with

deceptive advertising

The stage of the product life cycle when marketers consider eliminating products that are not contributing to profitability or the overall effectiveness of a product mix is the ____ stage.

decline

____ uses the internet, mobile, and interactive channels to develop communication and exchanges with customers.

digital marketing

Electronic media that function using digital codes are called

digital media

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

directs the flow of products from producers to customers.

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

The value, measured in either marketing or financial terms, associated with a brand's strength in a market is referred to as brand

equity

Most European countries use a common currency, the

euro

Government restrictions on the amount of a particular country's currency that can be bought or sold are known as

exchange controls

Organizations that employ standardized products, promotion campaigns, and prices for all markets are practicing what is known as

globalization

Aggressive pricing is typical during the ____ stage of the product life cycle.

growth

In which stage of the product life cycle do profits begin to decrease?

growth

Packaging that is designed to flow through the distribution channel easily is called ____ packaging.

handling-improved

A(n) ____ is a concept, philosophy, or image.

idea

When products are introduced into one nation from another, acceptance is far more likely

if there are similarities between the two cultures.

Which of the following is often used to raise revenue for a country and/or to protect domestic products?

import tariff

The purchase of products from a foreign source is called

importing

Traditionally, most firms entered international markets

incrementally

Labeling is important for three specific reasons, including promotional and legal reasons. What is the third reason?

informational

The three levels of brand loyalty from strongest to weakest are

insistence, preference, recognition

____ allows customers to express their needs and wants directly to a company in response to its marketing communications.

interactivity

The four major stages of a product life cycle include

introduction, growth, maturity, decline

Vertical channel integration

is made possible by purchasing the operations of a channel member

A business partnership between a domestic firm and a foreign firm is known as

joint venture

In marketing, family packaging means

making all of a company's or product line's packaging look similar.

A ____ brand usually requires a producer to become involved in distribution, promotion, and pricing decisions.

manufacturer

What links producers to consumers through the purchase and reselling of products or contractual agreements?

marketing intermediaries

Which of the following is the physical handling of tangible goods, supplies, and resources?

materials handling

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

maturity

Freight transportation companies that offer several different shipment methods are called

megacarriers

Many companies use more than one marketing channel to distribute their products to the same target market, a tactic called

multichannel distribution

Firms that have operations or subsidiaries located in many countries are referred to as

multinational enterprises

____ includes any attempt to intentionally conduct dishonest activities online.

online fraud

If a firm decides to contract its logistics functions to third parties that have no managerial authority within the marketing channel, it is using

outsourcing

Marketing channels create four types of utility for consumers including

place, time, possession, and form.

____ are audio or video files that can be downloaded from the internet with a subscription that automatically delivers new content to listening devices or personal computers.

podcasts

Special interest groups and regulatory bodies are ____ forces that must be taken into account in international marketing.

political and legal

____ relates to perceptions of value and is the most flexible element of the marketing mix.

pricing

Products used directly in the production of a final product but that are not easily identifiable are categorized as

process materials

Maquiladoras are

production facilities in north-central Mexican states.

The term dumping refers to the sale of

products sold in foreign countries at unfairly low prices

The internet can be referred to as a ____ medium because users determine which websites they are going to view.

pull

Minerals, chemicals, timber, and agricultural products are considered

raw materials

Convenience products are

relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort

A specialty product

requires purchase planning, and the buyer will usually not accept substitutes.

Using only some of the available outlets to distribute a product is called

selective distribution

Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.

shopping

Sometimes business partnerships are formed between traditional rivals competing for market share in the same product class. These partnerships are known as

strategic alliances

The coordination of all the activities involved with the flow and transformation of supplies, products, and information throughout the supply chain to the ultimate consumer is called

supply chain management

A trademark signifies

that the owner has exclusive use of a brand and others are prohibited from using it.

Which of the following best defines the interest stage in the product adoption process?

the buyer seeks information and is receptive to learning about the product

Possession utility is best described as

the customer having access to the product to use now or store and use later.

Order processing is defined as

the receipt and transmission of sales order information

Physical distribution activities may be performed by a producer, wholesaler, retailer or

they may be outsourced.

One of the biggest mistakes a marketer can make when engaging in digital marketing is to

to treat it like a traditional marketing channel

The full and legal name of an organization is called the

trade name

____ adds time and place utility to a product by moving it from where it is made to where it is purchased and used.

transportation

A ____ is a type of software that creates an interface that enables users to add or edit the content of some types of websites.

wiki