MK 201 Quizzes

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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

Which of the following is NOT a primary goal of competitive marketing​ intelligence?

Creating an understanding of the​ business-to-business environment

Criticism has been leveled at marketing for negative impact on other businesses. Of the​ following, which does NOT fall within those​ criticisms?

Creating false wants and too much materialism

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

A discount store​ (for example,​ Target, Kohl's, or​ Walmart) sells standard merchandise at lower prices. To do​ this, discount stores accept which of the following two​ conditions?

Lower margins and higher sales volume

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

Mobile Marketing

How do market demands relate to needs and​ wants?

Needs are satisfied by​ wants, and buying power converts wants into demand.

Which of the following would make a segment less attractive to​ enter?

New entrants finding it easy to enter the segment

​________________ is the service characteristic to which marketers need to pay close attention when there are fluctuations in demand.

Perishability

Consumers go through a distinct process in making a purchase. Of the​ following, which is the final step in that​process?

Post-purchase behavior

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

Rapid market acceptance

Which advertising objective is best suited to maintaining customer relationships and for more mature​ products?

Reminder

Which of the following is a type of marketing that calls for meeting the present needs of consumers and businesses while preserving or enhancing the ability of future generations to meet their​ needs?

Sustainable marketing

Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called​ "high-low pricing." Which of the following correctly describes​ high-low pricing?

The retailer charges higher prices on an everyday​ basis, coupled with frequent sales and other price promotions.

Which of the following correctly describes customer​ purchases, sales force​ contacts, service and support​ calls, web and social media site​ visits, satisfaction​ surveys, credit and payment​ interactions, and market research​ studies?

Touch points

​____________________ 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

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

an​ S-shaped curve

Goldtone is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of​ short-listed ideas will be adequately rewarded. In this​ case, Goldtone is using​ ________ to generate new product ideas.

crowdsourcing

Which contractual system is distinguished by the fact that it is normally based on some unique product or​ service; method of doing​ business; or trade​ name, goodwill, or patent that has been​ developed?

franchise

After the presentation and demonstration step in the sales​ process, a salesperson should next be prepared to​ _______.

handle objections

Direct marketing is ​ ________, allowing buyers to create exactly the configuration of​ information, products, or services buyers desire and then order them on the spot.

immediate and interactive

The second critical phase in developing a marketing information system​ (MIS) is developing information. The information is developed from​ ________, __________, and​ ____________.

internal​ databases, marketing intelligence​ activities, and marketing research

To avoid being intrusive and​ annoying, most legitimate​ e-mail marketers practice​ ______, which means sending​ e-mail pitches only to customers who​ "opt in."

permission-based marketing messages

Personal selling involves a​ multiple-step process. The first step is​ ______________ and the last step is​ _______________________.

prospecting and​ qualifying; follow-up

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

rebates, coupons, price​ packs, and samples

A purse​ company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From​ fans' viewpoint, the housewives reality show is a​ ______________.

reference group

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

sense of brand engagement and community

The​ ________________________ is a​ brand's full positioning or the full mix of benefits on which the brand is positioned.

value proposition

Consumer products are products and services bought by final consumers for personal consumption. Consumer product classifications include​ _______________, and unsought products.

​convenience, shopping, specialty

Which of the following is an example of horizontal channel​ conflict?

A Ford dealer complaining that another Ford dealer is advertising in its territory

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.

Which of the following is NOT a social factor influencing consumer buying​ behavior?

Cognitive dissonance

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

Consumer products and industrial products

What are the eight steps in the business buying decision​ process, in the correct​ sequence?

Problem​ recognition,general need​ description, product​ specification, supplier​ search, proposal​solicitation, supplier​ selection, order-routine​ specification, and performance review

The real value of marketing information rests in the​ _____________________.

customer insights it provides

Which of the following statements about blogs is​ correct?

Blogs can be difficult for the company to control.

Which of the following scenarios BEST describes the societal marketing​ concept?

Edward's Earthware attempts to make its pottery in a way that satisfies customers but is also environmentally friendly and sustainable over the long term.

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

Engagement and social sharing capabilities

A​ company's value chain is only as strong as its weakest link. What should a company do to properly gauge the strength of its links and continually​ improve?

Examine how well each group performs its work of adding customer value.

​_________________________ are the objectives of trade promotions.

Getting retailers to carry new items and more​ inventory, buy​ ahead, or promote the​ company's products and give them more shelf space

The major steps in advertising media selection are​ (1) __________;​ (2) choosing among major media​ types; (3) selecting specific media​ vehicles; and​ (4) choosing media timing.

determining​ reach, frequency,​ impact, and engagement

Online advertising has become a major promotional medium. The main forms of online advertising are​ _____________________.

display ads and​ search-related ads

There are too many different kinds of consumers with too many different kinds of needs.​ So, companies must design strategies for profitably serving chosen segments. The design of the strategies begins with four key​ elements, which are​ ________, _______,​ ________, and​___________.

market​ segmentation, market​ targeting, differentiation, and positioning

New digital and social media have given birth to a​ _________________________.

more​ targeted, social, and engaging marketing communications model

A blog is​ a(n) ______.

online forum

Forms of digital direct marketing include​ ______.

online​ marketing, social media​ marketing, and mobile marketing

t's time for the Super​ Bowl, and the​ end-of-the-aisle displays at the supermarket feature​ chips, dips, and soft drinks. What type of sales promotion tool is​ this?

Point-of-purchase

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

The four elements of a compensation plan for salespeople are​ __________.

A fixed​ amount, a variable​ amount, expenses, and fringe benefits

​_____________________ direct(s) its marketing activities​ (primarily advertising, consumer​ promotion, and direct and digital​ media) toward final consumers to induce them to buy the product.

A pull strategy

In which of the following does a producer direct marketing activities​ (primarily personal selling and trade​ promotion) toward channel​ members?

A push strategy

​_____________________________ are the five guiding principles of sustainable marketing.

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

________ is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.

Customer relationship management

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

__________________ segments are those segments that are conceptually distinguishable and respond differently to different marketing mix elements and programs.

Differentiable

Many vital and key functions are performed by marketing channels. Of the​ following, which is NOT one of those key​ functions?

Manufacturing and assembly

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 is a reason that producers use marketing channels and channel​ intermediaries?

Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.

The​ product/market expansion grid is a tool that allows marketers to identify growth opportunities. Of the​ following, which represent the four components of the​product/market expansion​ grid?

Market​ penetration, market​ development, product​ development, and diversification

Which of the following BEST describes research​ relationships?

Observation is best suited for exploratory​ research, surveys for descriptive​ research, and experiments for causal research.

Which of the following uses promotional tools such as​ presentations, trade​ shows, and incentive programs to engage​ customers, make​ sales, and build customer​ relationships?

Personal selling

​________ products have low immediate appeal but might benefit consumers in the long run—for ​instance, bicycle helmets or some insurance products.

Salutary

Amazon is now promising​ same-day pick-up of goods as well as local secure​ pick-up points. What point of differentiation is​ this?

Services differentiation

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

Chicago's Best Pizzeria has been operating on the north side of Chicago for more than 30 years. Its target market includes young urban professionals who want​ new-style organic pizzas with exotic ingredients.​ However, in recent​ years, the population in the​ pizzeria's neighborhood has been​ shifting, and now fewer young urban professionals live there. The population has grown older and wants traditional​ pizza, not pizza with exotic ingredients. Which of the following identifies the​ pizzeria's BEST response to this​ situation?

Target a new market with a different product.

Most standard portfolio analysis methods evaluate strategic business units​ (SBUs) on their performance in two important dimensions. What are these two​ dimensions?

The attractiveness of the​ SBU's market or industry and the strength of the​ SBU's position in that market or industry

Which of the following environments demonstrates a changing age​ structure, shifting family​profiles, geographic population​ shifts, a​ better-educated and more​ white-collar population, and increasing​ diversity?

The demographic environment

Which of the following statements about sales promotions is​ correct?

The heavy use of sales promotions has resulted in promotion clutter.

________ are​ off-price retailers that operate in huge facilities offering few frills but​ ultra-low prices and surprise deals on selected branded merchandise.

Warehouse clubs

Which of the following identifies a change in the technological environment that could affect the success of a​ business?

a company develops a new battery that lasts twice as long as its predecessor.

Performance Inc. sells its newest athletic shoe styles to The Sneaker Store and distributes dated or slightly defective merchandise through Sports Discounters. Performance​ Inc.'s main competitor is Topnotch Manufacturers. Performance Inc. also markets its products through the company website. They decide to offer a​ short-term online promotion to encourage consumers to buy their newest athletic​ shoes, promoting a 20 percent discount off current retail prices. In such a distribution​channel, which of the following would be considered a vertical​ conflict?

a conflict between Performance Inc. and The Sneaker Store

In​ a(n) ________ marketing​ system, leadership over production and distribution is assumed through the size and power of one or a few dominant channel members.

administered VMS

A manufacturer of​ half-ton pickup trucks creates a positioning map for the U.S.​ half-ton pickup market. The position of each circle on the map indicates the​ brand's perceived positioning on two​ dimensions: price and orientation​ (economy versus​ performance). The size of each circle indicates the​ brand's relative market share. This is an example of a​ ________________.

perceptual positioning map

When Dr. Lawncare developed his revolutionary new weed​ killer, he expected​ that, during the introductory stage of the product life​ cycle, ___________.

sales would be slow and with negative or low profits

Which type of retailer typically carries deep product assortments of narrow product​ lines?

specialty stores

The four major functions of marketing logistics are​ __________________________.

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

Which of the following is considered part of an augmented product rather than that of an actual product or core customer​ value?

warranty

The number of product lines a company manages is the product mix​ ______. The total number of items a company carries within its product line is the product mix​ _____.

width; length

Which of the following describes the process of dividing markets into groups based on​ consumers' knowledge,​attitudes, uses, or​ responses?

Behavioral segmentation


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