MKT 201 final

Amy focuses on cultivating relationships in her communication efforts, hoping that the one-on-one interaction will provide revenue for her company. Amy engages in

****:Personal selling

The marketing plan should constantly answer the question

:"Why should I invest in this plan?"

The percent-of-sales method refers to

:A budgeting technique based on a set percentage of current or projected sales.

A press release is

:A news story written by an organization to promote a product, service, or person.

A unique selling proposition is

:A specific benefit consumers will remember.

A heavy user is defined as someone who

:Actually uses or consumes an offering regularly.

The market section of the plan should describe the firm's

:All of the above (customers, competitors, collaborators, business climate)

Examples of out-of-home advertising include

:Bathroom stalls

Samples, coupons, premiums, contests, and rebates are examples of

:Consumer sales promotions.

Warranties and guarantees can be utilized to

:Decrease postpurchase dissonance.

Telemarketing is an example of

:Direct marketing

Threats include

:External negative conditions of the macro-environment.

Product placement is utilized with the intent to

:Generate exposure, brand awareness and interest.

The internet and social media

:Have changed company promotional strategies.

When discussing the customer segments in the marketing plan, it is important to include

:Market share and sales goals for each segment.

Gas is typically sold as regular, super, and premium. This is an example of

:Price lining

The "Got Milk?" campaign is an example of

:Primary demand

Customer-facing personnel can be a powerful resource for companies if empowered to

:Provide instant service to a customer

Product placement and sponsorships are forms of

:Public relations

Offering special incentives to restaurant owners who sell a particular brand of beverages is an example of a(n)

:Push Strategy

Short term incentives such as coupons, contests, games, rebates, and mail-in offers are typically examples of

:Sales promotion

Sugging refers to

:Selling under another guise.

Marketing plans aid CMOs in

:Setting their organization;s marketing expectations.

Understanding the history that Hispanics have had with financial institutions in their home countries is important to marketers when developing campaigns. This is an example of understanding the

:Social and cultural environmental

Influencer marketing is implemented with the intent to

:Target lead users who will then influence others to utilize the product.

Price elasticity affects

:The demand for a product

Customers are more likely to tell their friends about negative experiences with companies than positive ones because

:There is more drama involved in unmet expectations.

The spreader effect results in

:buyers being more likely to try related products offered by the marketer.

The price, product, promotion, and placement of a good or service should

:convey a consistent image.

A form of trend analysis that estimates sales based on the trends of other variables is known as

:correlational analysis

Price elasticity is calculated by

:dividing the change in quantity demanded by the percentage change in price.

World of mouth

:has a powerful influence on purchasing decisions.

Expert opinion is a tool best used

:in conjunction with more quantitative methods.

Sponsorship is utilized with the intent to

:increase brand awareness, improve corporate image, and reach target markets.

The accelerator effect results in

:increased sales as a consumer approaches the next level of benefits.

Cross-promotions are utilized to

:introduce new marketing members to a community.

Maximizing sales typically

:is a short-term objective.

A firm's sales potential

:is the maximum total revenue it hopes to generate from a product or the number of units of it the company can hope to sell.

An active influencer is defined as someone who

:is willing to tell others about a product who listen and act on the influencer's decision.

Statistical control involves

:mathematically removing the influence of a variable on an outcome so as to isolate the cause of a problem.

The blocker effect results in

:members ignoring marketing communications by competitors.

Many companies believe capturing a maximum amount of market share is

:necessary for survival.

A forward action

:occurs when a buyer lists what he or she wants to buy and sellers may submit bids.

Unfair trade laws

:require sellers to keep a minimum price level for similar products.

Price elasticity is impacted by all of the following EXCEPT

:the amount of fixed versus variable costs involved in producing the product or service.

The longevity effect results in

:the lengthening of a customer's lifetime value over time.

When setting customer expectations, firms should

:underpromise and overdeliver.

_____ is utilized to get potential customers to act quickly, make larger purchases, and make repeat purchases

A sales promotion

The rational for utilizing supply chain visibility is that:

A supplier will be more reliable.

Marketing information systems involve all of the following EXCEPT:

A system for collecting test market information.

RFID refers to:

A tag that emits radio signals that can record and track a shipment as it comes in and out of a facility.

Anticipated promotion costs are a key factor when using the _____.

Affordable method

Data is combined with statistical techniques by:

Analytics software.

Humor, fear, and informative are all types of advertising ____ used by organizations when structuring messages.

Appeals

A mattress company that advertises high quality mattresses for an extremely low price while carrying a very low quantity of them is utilizing a ____ pricing strategy by them trying to up-sell customers on a more expensive mattress.

Bait-and-switch

_____ loyalty refers to the degree to which a customer habitually purchases a product, while ____ loyalty refers to the degree to which a customer prefers or likes a brand.

Behavioral; Attitudinal

Facebook and LinkedIn are typical examples of ____.

Budget sites

The amount of word of mouth taking place in the marketplace is known as ____.

Buzz

The ____ prohibits the use of email, fax, and other technology to randomly send messages to potential consumers.

CAN-SPAM Act

Accessing internally generated information quickly:

Can give a company a competitive advantage.

Good public relations efforts.

Can help a firm create relationships with its customers.

The advantage of market research is that it:

Can help make a good decision.

_____ is the relationship between two variables whereby one variable is a direct consequence of the other.

Causality

Tom is trying to develop a partnership with a food bank. His company donates canned goods for the volunteers at the food bank. Tom is engaging in ____.

Cause-related marketing

_____ can have a positive PR impact by strengthening the affinity people have for a company that engages in it.

Cause-related marketing

Which of the following is the most effective way that an online book retailer can utilize to recommend products its customers might like?

Clickstream data

A(n) _____ draws a logical conclusion.

Closed end

Bob specifies that it is important to have 1,000 units of product available to five of their key retailers at all times in his company's warehouse. Which part of the marketing plan would ideally contain this information?

Communication plan

The _____ addresses the question "How will the offering be launched?"

Communication plan

____ is a budgeting method whereby companies make sure their promotion budgets are comparable to the competitors.

Competitive parity method

_____ is a budgeting method designed to keep a brand in the minds of consumers.

Competitive parity method

Amanda purchased a washing machine from Best Buy. She was informed by Best Buy that she had a 30-day window to receive price matching from Best Buy or other local retailers if the washing machine went on sale. This is because firms are influenced by _____ when making pricing decisions.

Competitors

Target markets, the offer, and the communication plan are summarized in the _____ section of the marketing plan.

Conclusion

Jeff owns a book company. It costs $10.00 to produce a new book and the company wants a 30% profit, so he charges $13.00 for the book. Jeff is using what type of pricing approach?

Cost-plus pricing

____ is the process of countering the extreme negative effects a company gets when it receives bad publicity.

Crisis Communication

_____ are better at estimating market potential than sales potential in addition to being relatively costly.

Customer and channel surveys

Providing tools to customers that enable them to take control or influence marketing is known as ____.

Customer empowerment

_____ is the feeling that results when an offering meets a consumer's expectations.

Customer satisfaction

Market trends can be uncovered internally utilizing:

Data mining techniques.

Failing to meet the performance standards established for an offering indicates a(n) _____ gap.

Delivery

Marketers who start with the price demanded by consumers and then create offerings to meet the price are utilizing which pricing strategy?

Demand backward pricing

_____ synthesizes information including sales history, point-of-sale data, warehouse data, supplier data, promotion information, and economic trends.

Demand-planning software

____ seeks to measure or describe phenomenon so as to answer the questions who, what, where, when and how.

Descriptive research

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

Distribution center

Senders _____ messages while receivers _____ messages.

Encode; decode

.In the context of causality, control means the degree to which you can manipulate an outcome.

False

A company's message should vary based on the medium.

False

A company's sales potential is estimated prior to the market potential.

False

A complete budget section is entirely focused on discussing the money needed to launch the new offering.

False

A complete coverage of the business climate includes an analysis of the political climate, economic climate, and technological environment

False

A free sample is not preferred by consumers.

False

A price skimming strategy involves setting a low initial price.

False

A product's low price can provide a company with a sustainable competitive advantage.

False

A recent study indicates that the number of complaints a company gets is less important to a firm's success or failure than the customer satisfaction scores.

False

A social network is another name for a viral market.

False

Advertising is a form of free promotion.

False

An executive summary is typically about two to three pages in length, as it is summarizing a very long document.

False

As a sole method of forecasting, expert opinions are mostly very accurate.

False

As we find new sources of information, the media and message strategies businesses use must remain consistent.

False

Bait-and-switch pricing involves selling products below cost to attract customers to the store

False

Behavioral loyalty results in customer immunity to a competitor's offerings.

False

Brand managers are typically permanent members of the team creating a marketing plan.

False

Capturing more market share means a firm will earn higher profits.

False

Cause-related marketing is often associated with a customer backlash.

False

Caveat emptor means to "seize the day."

False

Choice of promotional media is independent of environmental factors.

False

Collaborators are typically limited to suppliers and distributors.

False

Companies are reducing their expenditures on social recruiting as it is not very effective.

False

Companies should set high expectations for their offerings.

False

Companies use a push strategy when they target final consumers with promotions.

False

Coupons encourage behavioral loyalty

False

Creating marketing strategy is a single event.

False

Cross-promotion marketing makes it difficult for a new marketing member to create credibility in a community.

False

Customer satisfaction is a good predictor of a customer's future purchase behavior.

False

Demand for essential products is affected more by price change than the demand for nonessential goods.

False

Direct marketing can be very intrusive and many consumers may ignore or tune ****

False

Direct marketing leaves little scope for organizations to target a specific set of customers.

False

Executive opinion is the best-guess estimates of industry experts outside of the company.

False

Firms typically want to accomplish the same objectives with their pricing strategies.

False

For marketers, identifying causality is not a hard task.

False

Going-rate pricing is often used with products in markets people perceive to be very different.

False

In B2C marketing, sales promotions are typically called trade promotions.

False

In terms of readership and advertising dollars, magazines and newspapers have remained unaffected by the internet.

False

In the context of PR, much of the information is tailored to sound as if it has been created by sellers.

False

Influencers are known as the early majority.

False

Interaction between the buyer and the seller are very limited in the case of professional selling.

False

Large revenues translate to into higher profits.

False

Loss leader pricing is legal in the United States.

False

Loyalty programs affect the longevity of customers by reducing their switching costs.

False

Marketing is a business function where performance is difficult to quantify due to its creative nature.

False

Marketing plans are created only when a new offering is being launched.

False

Only specific personal within marketing are impacted by the marketing plan.

False

Opportunities for games and entertainment are typically part of the social publishing zone.

False

Overestimating demand is much more destructive than underestimating demand because of manufacturing, distribution, and storing costs.

False

PR has become more important in recent years mainly because of the increased number of consumers.

False

PR is often perceived to be less objective than other forms of promotion.

False

Personal selling is used more in B2C markets than in B2B markets.

False

Placing a product in a television show is known as sponsorship

False

Postpurchase dissonance is more likely to occur when inexpensive products are purchased.

False

Potential markups should be considered when deciding on a starting price.

False

Press releases are generated by an agency that guarantees placement via the media.

False

Prestige pricing involves pricing a group of similar products at a few different price levels.

False

Price elasticity is equal to the percentage of change in quantity demanded times the percentage change in price.

False

Price fixing is an uncommon practice.

False

Privacy policies and privacy laws apply to individual customers and not business customers.

False

Product placement is currently a new form of PR that is found in few forms of entertainment.

False

Product placements are utilized with the intention to aid in plot development.

False

Promotions typically do not have to be adapted for different cultures.

False

ROI is not a common pricing objective for many firms.

False

Sales promotions include promotions that are part of the other components of the communication mix.

False

Sarah has created an advertisement promoting her company's car brand. This is an example of building primary demand.

False

Social communities are mainly involved in getting a company's product included as part of a television show or a movie.

False

Social media is complex but is known to be constant.

False

Sophisticated statistical models used in forecasting that are based on how customers have responded in the past to marketing strategies are known as correlational analysis.

False

Statistical control is the ability to manipulate variables, such as how a marketing plan is implemented.

False

Strengths and opportunities are positive situational factors arising from within the firm.

False

Sugging is illegal because it is unfair.

False

The budget affects a promotion's reach but not its frequency.

False

The company's budget affects a promotion's reach but not its frequency.

False

The goal of satisfying customers is carried out exclusively by the customer service department.

False

The percent-of-sales method takes into account the changes in the market.

False

The plan for the offering is focused on pricing, benefits, value, and customer support. The communication part of the marketing plan includes the plan for introducing offerings that will follow the initial launch.

False

The sender determines how the message is interpreted.

False

Traditional Advertising is a form of paid promotion that involves an identified sponsor that reaches many people at one time and can be repeated many times ****`

False

Traditional media is not in competition with social media because they are each targeting a different market.

False

Typically, the CMO is solely responsible for creating a marketing plan.

False

Under-using permission marketing has lead to the creation of dump accounts.

False

Utilizing Coca-Cola in a video game is an example of sponsorship.

False

Very expensive and very technical products rely heavily on advertising.

False

When firms assess the marketplace, indirect competitors and substitutes do not influence the pricing strategies of a firm because they do not carry the same merchandise. Thus, companies focus on direct competitors when making pricing decisions.

False

When the economy is weak sales promotions are not usually offered by most organizations.

False

Word of mouth is an effective advertising tool.

False

Purchasing a product provides the sender with ____.

Feedback

Smart companies integrate their supply chains into their marketing plans, by means such as:

Finding ways the supply chain can create value for customers.

_____ decisions are made more frequently than _____ decisions.

Forecasting; sourcing

As a part of Ford's sponsorship package, the company received a commercial between every other commercial break during a televised baseball game. The number of times the commercial was shown refers to its _____.

Frequency

The _____ requires certain institutions to provide written notices of their privacy policies

Gramm-Leach-Bliley Act of 1999

Sam purchases coffee from the same vendor every morning. This is an example of a(n) ____.

Habitual purchaseDecre

Stealing product strategy information from a competitor is known as:

Industrial espionage.

A(n) ____ is a special type of community that participates regularly in marketing research activities.

Influence panel

____ includes any distractions receivers and senders face during the transmission of a message.

Interference

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

Intermodal containers

____ is the process of ensuring a firm has an adequate supply of products and a wide enough assortment of them to meet customer needs.

Inventory control

An advantage of outsourcing is that:

It can add value to the product.

Which of the following is true of direct marketing?

It makes it possible to measure the return on investment.

Which of the following is true of social media?

It uses technology to provide an interactive means of communication.

_____ involves pricing one or more items low to get people into a store.

Leader price

The Robinson-Patman Act

Limits a seller's ability to charge different customers different prices for the same products.

_____ involves pricing one or more items below cost to get people into a store.

Loss leader pricing

_____ is an illegal practice that involves firms colluding about price.

Loss leader pricing

_____ rewards a person for frequent purchases.

Loyalty programs

A firm that sets out to maintain its current prices and/or its competitors' prices is utilizing which type of pricing objective?

Maintaining the status quo

A firm may push for environmental sustainability because:

Many consumers are willing to pay more for green products.

A (n) ____ examines the competition's financial and marketing performance.

Market analysis

The ____ is a document that is designed to communicate the marketing strategy for an offering.

Market plan

____ refers to total industry-wide sales expected in a particular category for the time period of interest.

Market potential

A(n) _____ can be advantageous because there is no historical data on how the product has done

Market test

Sam is responsible for buying market research reports and then selling the reports to other companies. Sam works for a(n) _____.

Marketing research aggregator

A company trying to set prices in a way that allows them to capture a large share of the sales in their industry is utilizing which type of pricing objective?

Maximizing market share

A company that implements programs to encourage customer loyalty is utilizing what type of pricing objective?

Maximizing profits

A company that is trying to generate cash quickly to pay off debt would most likely utilize what type of pricing objective?

Maximizing sales

Studies that use _____ have a lot of room for sampling error and aren't considered very accurate.

Nonprobability samples

_____ occurs when a company prices a product a few cents or a few dollars below the next dollar amount.

Odd-even pricing

When describing the ____it id important to provide details concerning features, benefits, and pricing options.

Offering

If a firm can find a company that can add more value to a function than it can itself, it will often ____ the task to that company

Outsource

The _____ process is how a person decides what to pay attention to and how to interpret and remember different things.

Perceptual

_____ involves soliciting personal information in order to steal an identity and use it to generate cash fraudulently.

Phishing

Companies sometimes utilize research that tracks the movement of a person's eyes when watching programs on television. This is known as a type of:

Physiological measurement

A toy provided with a meal by food joints is an ideal example of a(n)____.

Premium

Companies seeking good PR may host a(n)____ to highlight new hires, new facilities, or community service projects.

Press conference

Durable goods such as TVs and refrigerators are ____.

Price elastic

Before pricing a product, an organization must determine its _____.

Pricing objectives

_____ state what a company wants to accomplish with its pricing.

Pricing objectives

____ limit the amount and type of information a company can collect about a consumer.

Privacy laws

A company's product being included in movie or video game is known as ____.

Product placement

The management of the resources, events, and processes needed to create an offering.

Production Scheduling

The different types of marketing communications an organization uses comprise its _____.

Promotional mix

Standards for the Code of Ethics for Market Intelligence Professionals includes:

Providing honest and realistic recommendations and conclusions in the execution of one's duties.

The process of creating a positive image for a company, an offering, or a person via publicity is known as ____.

Public relations

A(n) _____ involves promoting a product to final consumers.

Pull strategy

The number of people exposed to a promotion message is referred to as ____.

Reach

A(n) ____ is a forecast based on estimates of sales in a given time period gathered from all of a firm's salespeople.

Sales force composite

_____ refers to demand for a specific brand while ____ refers to demand for a product category.

Selective demand; primary demand

_____ is a method of examining content in blogs, tweets, and other online media to determine what people are thinking at any given time

Sentiment analysis

Employee theft of inventory is referred to as:

Shrinkage

Facebook, LinkedIn, Pinterest, and Twitter are examples of ____ media.

Social

Which of the following zones of social media is typically involved in providing a means of interactive shopping including reviews and ratings?

Social commerce zone

____ are channels that focus on activities and relationships.

Social communities

___________ is a catchall phrase for the online channels of communication that build communities.

Social media

A(n) ____ is a communication medium for communication.

Social networking site

Companies may join the Fair Trade movement to convey that they are ____.

Socially responsible

_____ and _____ have become a larger part of Sally's role as a supply manager since she first started.

Sourcing; procurement

A _____ refers to financial support for events, venues, or experiences and provide the opportunity to target specific groups. ****

Sponsorship

____ involves paying a fee to have your name associated with a venue or event.

Sponsorship

_____typically refer to financial support for events, venues, or experiences and provide the opportunity to target specific .

Sponsorships

Setting performance standards too low despite knowing about a customers' requirements indicates a(n) _____ gap.

Standards

____ allows you to smooth out the seasonal variance on sales so you can then determine how much of the change in sales is due to other factors.

Statistical control

After completing the _____ section, readers should conclude that the proposed strategy is the best one available.

Strategy

The ____ section details the tactics the organization will use to develop, market, and sell the offering.

Strategy

Lucy lists the positive factors associated with her company, such as sales growth, world class distribution, and industry recognition for product quality. She is listing the company's _____.

Strengths

Tim's book company sets an expected profit of 15% in the first two years on all newly published books in relation to the money invested in the author and publication

Targeted return on investment

Track and trace systems help companies anticipate events:

That could disrupt the supply chain.

____ measure(s) the size of television audiences in various markets.

The Nielsen Ratings

One of the characteristics of secondary research is that:

The data is collected for another purpose.

Demand planning impacts:

The materials a firm must purchase.

in business-to-business marketing sales promotions are typically called.

Trade promotions

_____ is a group of forecasting methods that base the future period of sales on the rate of change for previous periods of time.

Trend analysis

A SWOT analysis can be utilized in the company analysis portion of the marketing plan.

True

A firm's sales force will use the marketing plan to determine its sales strategies and how many salespeople are needed.

True

A good marketing plan often sparks retaliation from one or more competitors.

True

A leading indicator for furniture sales is new housing starts.

True

A marketing audit should assess the extent to which the plan was successful in achieving the goal of getting important people and departments within an organization to buy into the plan.

True

A marketing plan should be something of a living document.

True

A simplistic method of determining the promotion budget is using a percentage of last year's sales.

True

Accelerator programs can be more effective if customers can track their progress.

True

Accuracy is important when it comes to forecasts.

True

Advertisers must try to present consistent messages, and must also try to ensure that consumers interpret the message as they intended.

True

Advertising is a form of paid promotion that involves an identified sponsor and reaches many people at one time.

True

An influencer panel is a special type of community that participates regularly in marketing research activities .

True

Cause-related marketing occurs when a company supports a nonprofit organization in some way.

True

Commercials for perfume or cologne are typical examples of an open-ended message.

True

Companies can utilize weak economic markets to increase their profits.

True

Companies have been using more of social media to promote their brands lately.

True

Companies must be careful when it comes to word translation, actions, and actors when creating an international promotion.

True

Companies spend time "trolling" the Web to resolve legitimate complaints of customers.

True

Competitor pricing has an impact on a firm's pricing decisions.

True

Competitors often try to skew the results of a firm's market test.

True

Consumers tend to purchase products and remember information that has some relevance to their personal situation or beliefs.

True

Cost-plus pricing ensures that a company's products' costs are covered and the firm earns a certain amount of profit.

True

Crisis communication is the process of countering the extreme negative effects a company gets when it receives bad publicity.

True

Cross-promotion marketing encourages the spreader effect.

True

Customer empowerment influences the performance of a company.

True

Customer satisfaction is a feeling that a person experiences when an offering meets his or her expectations.

True

Customers are central to all marketing plans.

True

Delivering consistent information about a brand helps establish the brand in the minds of consumers.

True

Direct marketing is very intrusive and many consumers may ignore attempts to reach them.

True

Dissatisfied customers are likely to tell more friends about their negative experiences than satisfied customers are about good experiences.

True

Early adopters tend to purchase new products as soon as they come out.

True

Early research on loyalty showed that loyal customers were more willing to overlook a problem related to the brand.

True

Fidelity is the degree to which the plan is being implemented as it is supposed to be.

True

For effective communication to occur, the receiver must interpret the message as the sender intended.

True

Forecasts are simply someone's guess as to what will happen.

True

Habitual purchases are typically made for low-involvement offerings.

True

Implementation of the marketing strategy is something that is not limited to the marketing department.

True

In the marketing sense, a community is a social group that centers its attention on a particular brand or product category.

True

It is important for frontline employees to have customer skills.

True

Jimmy can use Facebook to try to generate buss for his client's book.

True

Leader pricing is legal.

True

Loyalty has two dimensions

True

Many companies create marketing plans at the divisional level.

True

Marketers address postpurchase dissonance by providing their customers with reassuring communication.

True

Marketers utilize promotional tools to create buss about their products.

True

Maximizing profits involve both large revenues and cutting costs.

True

Maximizing sales is typically a short-term objective since profitability is not considered.

True

Not only must advertisers try to present consistent messages, they must also try to ensure that consumers interpret the message as they intended.

True

Odd-even pricing utilizes a psychological appeal.

True

One method Judy can utilize to generate positive buzz about her company's new product is by creating a press release that is then disseminated to various media outlets.

True

One must be very careful as to the information one chooses to share online.

True

PR (public relations) is often perceived to be more objective than other forms of promotion.

True

Part of an offering is the service support consumers need to extract the offerings full value

True

Predatory pricing involves setting prices low to drive competitors out of business.

True

Price bundling occurs when different offerings are sold together at a price that's typically lower than the total price a customer would pay buy buying each offering separately.

True

Price is the only marketing mix variable or part of the offering that generates revenue.

True

Pricing strategies are often dependent upon the stage of life cycle the offerings are in currently.

True

Product placement typically involves paying a fee.

True

Product reviews on the internet can be posted by anyone, including a company.

True

Products in the introductory stage of the product life cycle tend to utilize more promotional dollars.

True

Projections for a product's sales and profits should include a timeline.

True

ROI refers to the amount of profit an organization hopes to make given the amount of assets it has tied up in a product.

True

Sales promotions are activities that supplement a company's advertising, public relations, and personal selling efforts.

True

Social commerce provides reviews and ratings of products.

True

Social media zones include social communities and social publishing.

True

Social publishing helps distribute information to different audiences and includes channels such as blogs.

True

Some communities are organized by companies.

True

Some firms utilize loyalty programs to collect useful data about customers.

True

Studies show that if a company can resolve a customer's complaint well, the customer's attitude toward the company is improved, possibly even beyond the level of his or her original satisfaction.

True

Sugging involves misrepresenting or lying about the source of the information in an effort to gain an unfair advantage.

True

Team members creating a marketing plan can be specialists in a certain area.

True

Telemarketing can be very effective for charitable organizations.

True

Television shows and magazines are vehicles used by social media.

True

The FTC requires a company to follow its policy or face severe penalties, even if the company is not required by the Gramm-Leach-Bliley Act to have a privacy policy.

True

The average tenure of a CMO is 26 months or less.

True

The beginning and the end of a message should be strong in comparison to the middle.

True

The better the products get over time, the more it takes to satisfy customers.

True

The company's mission statement should be referenced in the business challenge section of the marketing plan.

True

The first portion of the budget section of the marketing plan will most likely cover the investment required for the launch.

True

The intent of the Robinson-Patman act is to protect small businesses from larger businesses that try to extract special discounts and deals for themselves in order to eliminate their competitors.

True

The marketing plan is intended to be a persuasive document.

True

The money organizations spend on different types of communication changes as the media landscape changes.

True

The objective and task method involves conducting research to determine the cost of necessary promotional activities.

True

The objective and task method takes objectives into consideration and the costs of the tasks necessary to accomplish objectives in order to determine the promotion budget.

True

The point where total costs equal total revenue is known as the breakeven point.

True

Trade shows and conventions are examples of trade promotions.

True

U.S. privacy laws apply to Internet marketing.

True

Upon entering a new foreign market, companies often utilize crisis communication methods when working with locals.

True

When consumers are very sensitive to the price change of a product, the demand for it is price elastic.

True

When determining the communication mix, a company must determine which media provides the "biggest bang for the buck" given a product's characteristics and target market.

True

Companies seek to promote their brands through social media.

True/False

Mobile marketing

Utilizes cell phones and forms of transportation.

Price is a signal of ____.

Value

In an attempt to promote gymnastic products among teenagers, Metal. Inc ,uses the series Make It or Break It, on CW. In this case Make It or Break It is being used as a(n) _____.

Vehicle

An e-mail account that is used for registering when buying products online in order to ignore spam and other junk e-mails later is known as _____.

a dump account

A focus group typically involves:

a moderator

____ is the fastest transportation method in terms of shipping goods.

air

_____ is growing faster than any other transportation method.

air

An example of a primary data resource is:

an in depth interview

Cause-related marketing can foster _____ among a company's community of customers.

attitudinal loyalty

When creating a questionnaire, it is important to:

be clear and ambigious

In the _____ section of the marketing plan, the planner describes the offering and provides a brief rationale for why the company should invest in it.

business challenge

Noise

can distort marketing messages.

A _____ looks at how another company solved a problem being researched.

case study

In the case of _____ research, all of a product's marketing elements are held constant except one.

casual

Overstating an offering's performance level indicates a _____ gap.

communication

_____ involves moving inventory through the supply chain so that products spend little or no time in warehouses.

cross docking

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

customer satisfaction

____ should ultimately be the focus of any outsourcing or insourcing decisions made by a company.

customers

Combining data into one location is called _____.

data warehousing

Lead time is closely related to:

demand forecasting

Price is the _____ marketing variable to change and the _____ to copy.

easiest; easiest

Designer goods producers can utilize _____ to combat knockoffs in the marketplace.

electronic product codes

A(n) _____ strategy for a new product involves setting an initial price based on what the seller expects to charge throughout the product's life cycle.

everyday low price

The advantages of _____ are that they are low cost and fast, and they have the effect of making executives committed to achieving them.

executive opinions

The _____ section of the research report summarizes all the details in the report in a very quick way.

executive summary

A depth interview involves a group of potential buyers discussing a market research topic.

false

A researcher should always try to collect primary data first to save time.

false

A retailer is typically a type of upstream firm.

false

A study suggests that companies can recover about half their annual sales by instituting "turn trash into cash" systems.

false

Analytics software is utilized to generate information produced in reports generated by the company regularly.

false

Causal research is typically utilized when a problem has not yet been defined.

false

Defining a research problem is typically an easy task for a company.

false

Descriptive research answers the question "Why?" when describing phenomenon.

false

Designing the research is the first step in the marketing research process.

false

Even if you simply get good information that is of no use, marketing research should be performed because the marketer is better equipped for his/her job.

false

Face-to-face surveys are less expensive to administer than mail surveys.

false

Freight forwarders typically own their own transportation equipment and warehouses.

false

Industrial espionage mainly involves examining content in blogs, and other online media to determine what people are thinking at any given time

false

Information Resources Inc. serves as a marketing research aggregator.

false

Market research is typically inexpensive.

false

Pretesting a questionnaire is typically a waste of valuable company resources.

false

Produce is easy to trace due to electronic product codes.

false

Projective techniques utilize specific, direct questions to reveal information.

false

Salespeople are primarily involved in gathering competitor intelligence; so many companies have instituted CDB systems.

false

Scanner-based research involves buying research reports from other marketing research companies and then selling the reports in their entirety or in pieces to other firms.

false

Smaller warehouses are more effective in terms of cost.

false

The intranet is an excellent tool utilized by companies to reach consumers.

false

The primary purpose of market research is to collect, analyze, and report marketing information that can be used to answer questions or solve problems so as to improve a company's bottom line.

false

The process of designing, monitoring, and altering supply chains to make them as efficient as possible is called demand chain management

false

inventory control occurs when a firm runs out of a product a consumer wants to buy.

false

Shipping via waterway is _____.

inexpensive

Merchandise in transit is of concern to shippers because:

it is at risk

Not understanding a customer's expectations or needs indicates a(n) _____ gap.

knowledge

A(n) _____ is a correlate that occurs before the variable being forecasted.

leading indicator

Sue often travels to other grocery stores in the marketplace to observe how much they are charging for the same products she stocks in her store. Sue is engaging in ____.

market intelligence

Tom's internship position involves reading trade magazines and economic data to educate himself and his boss about market trends. Tom is involved in _____.

market intelligence

_____ typically involves researching a specific market to determine its size and trends.

market research

A(n) _____ is an examination or snapshot of the state of a company's marketing strategies as they are actually implemented.

marketing audit

A(n) _____ is a way to manage the vast amount of information firms have on hand.

mis

The _____ is an adjustment whereby the rate of change for the past few periods is averaged; while _____ is a type of moving average that puts more emphasis on the most recent period.

moving average; exponential smoothing

The more positive the _____ score, the better the company's performance.

net promoter

Objectives are utilized to determine promotional activities in _____.

objective and task method

Fred started a t-shirt business last year. He designs the shirts in the United States and then sends the designs to companies in China to be produced. Fred is utilizing ____ strategy..

offshoring

A company may utilize a(n) _____ strategy for new food products or health and beauty supplies.

penetration pricing

____ are costly to build but transport liquid and gas goods cheaply once constructed.

pipelines

A scan of the _____ should include any new government regulations as well as legislation.

political climate

Demand is said to be _____ when the demand for a product stays relatively the same and buyers are not sensitive to changes in its price.

price inelastic

A company may utilize a(n) _____ strategy to recoup its investment in a product faster.

price skimming

Word associations are a type of:

projective technique

___ is any form of research that includes gathering data that is not quantitative.

qualitative

The goal that is to be accomplished by marketing research is known as the:

research objective

_____ involves running broken, defective, and scrap products backward through the supply chain.

reverse logistics

The list from which the sample is drawn is known as the _____.

sampling frame

Rachel's boss asks her to collect demographic information pertaining to three cities in which the company is thinking of expanding. Utilizing _____ would prove to be most effective for this assignment.

secondary

The place where an experiment is conducted is known as the ______.

test market

A depth interview utilizes open-ended questions.

true

After dealing with multiple customer service issues, Peggy decided that she would not renew her contract with Ron's customer service company. Moving the customer service function back within Peggy's company is known as insourcing.

true

Companies who neglect the task of gathering market intelligence are vulnerable.

true

Consumers are very interested in knowing where their products come from.

true

Exploratory research utilizes qualitative data.

true

Face-to-face surveys allow researchers to ask more complex questions than mail surveys.

true

Firms with just-in-time inventory systems keep very little inventory on hand.

true

Handbooks, dictionaries, and books are sources of secondary data.

true

It is important to keep the audience in mind when writing a research report.

true

Market research is on the path to failure from the start if the problem is improperly defined.

true

Market research is the process of researching a specific market to determine its size and trends.

true

Marketing research is utilized when market intelligence, internal company data, and analytics software falls short.

true

Marketing research should not necessarily be performed just because the competition is engaging in it.

true

More products are shipped by truck than by another means.

true

One standard set forth in the Code of Ethics for Market Intelligence Professionals is to avoid conflicts of interest in fulfilling one's duties.

true

Purchasing goods and services for an organization is known as procurement

true

Shippers are highly anxious when their products are in transit.

true

Suppliers are a source of market intelligence.

true

Syndicated research is primary data that marketing research firms collect on a regular basis and sell to other companies.

true

The size of the sample has an effect on the amount of sampling error.

true

Track and trace systems provide value to customers.

true

Tracking individual products is more difficult than tracking product loads.

true

Transportation modes a firm uses should be based on what its customers want and are willing to pay for.

true

Understanding customers requires both quantitative and qualitative data.

true

Warehouses and distribution centers are becoming more automated and wired.

true

Over use of permission marketing has leads to the creation of dump accounts.

true/false

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

upcycling

A study that actually tests what it was designed to test and not something else is a(n) _____ study.

valid

Marketers are referring to the _____ when looking to companies who sell and promote their products in addition to those who provide raw materials, transportation, and all other functions involved in creating the product.

value chain

Marketers utilize _____ when they create a message with the intention of people passing it along to others, often without the intent to pitch an actual product.

viral marketing