MKT 320F Final
Racial and Ethnic Diversity in America
Multi-racials"or "multi-ethnics" make up 2.4% of population, according to the US Census bureau (likely higher)
P&G has a lot of brands in the marketplace at different price points
Neither
Which of the following is not one of the stages of the product lifecycle?
New product strategy stage
Outbound Marketing and Inbound Marketing
Outbound Marketing: messaging delivered out towards customers Inbound Marketing: messaging designed to get customers to initiate communication towards the firm
When competing against other energy drinks like Red Bull and Monster, 5-Hour Energy is thinking through how to get its brand to occupy a clear, distinctive, and desirable place in its target customers' minds. What problem is it trying to solve
Positioning
Marketers use copy testing to assess the potential effectiveness of their marketing communications message. Which of the following measures comprises copy testing?
Pre- and post-viewing purchase intent
Firm's Incentive to sell
Price - COGS
Makes processes for established offers in established markets more effective or efficient. Examples include Dell's streamlining of its PC supply chain and order fulfillment systems, Charles Schwab's migration to online trading, and Wal-Mart's refinement of vendor-managed inventory processes.
Process Innovation
Takes established offers in established markets to the next level, as when Intel releases a new processor or Toyota a new car. The focus can be on performance increase (Titleist Pro V1 golf balls), cost reduction (HP inkjet printers), usability improvement (Palm handhelds), or any other product enhancement.
Product Innovation
Product Adaptions: Develop New prodcit
Product Invention
Company website: "Our materials make more possible. When you commit to market-leading innovations, amazing things happen. That's how we've continually enabled new possibilities." What is the firm's orientation?
Product-oriented
When Bose provides free headphones to Charles Barkley and other famous members of the NBA media, this is an example of
Public relations
ROI
ROI =(incremental profits gained - cost of marketing investment)/cost of marketing investment
_____ is a strategy that focuses on keeping and improving relationships with current customers.
Relationship marketing
Leaderboard to work alongside other members
Social Value
Workout alongside others with a list of other users in class with you and the ability to text chat
Social Value
Company website: "We are a consciously clean skincare + wellness brand whose mission is to disrupt the global beauty industry. Our intention is to increase accessibility, transparency, and sustainability in all aspects of what we create. From the fair sourcing of our shea butter to the creation of our homemade products, down to the responsible representation of people working with us at every end." What is the firm's orientation?
Societal
______ within the marketing channel can provide efficiencies and economies of scale as channel members take on tasks that best utilize their expertise or strategic relationships.
Specialization or Division of labor
The makers of Red Bull Energy Drink want to generate earned media and create associations between the brand and popular culture. Which of the following types of media vehicle may be particularly useful in this strategy?
Sponsorship of the Cliff Diving World Series
Capitalizes on disruption to restructure industry relationships. Innovators like Fidelity and Citigroup, for example, have used the deregulation of financial services to offer broader arrays of products and services to consumers under one umbrella. Nearly overnight, those companies became sophisticated competitors to old-guard banks and insurance companies.
Structural Innovation
Households in select zip codes with > $50,000 annual income
Substantial,Actionable,Identifiable,Accessible
Which of the following statements best describes the typical target market?
Target markets change over time as consumers drop in or out of the market, and as tastes change
Product LineDepth
The number of product Items in a product line.
Planned Obsolescence
The practice of modifying products so those that have already been sold become obsolete before they actually need replacement.
Diffusion
The process by which the adoption of an innovation spreads.
_____ specifies the research questions to be answered, how and when the data will be gathered, and how the data will be analyzed.
The research design
Which of the following choices is NOT a consideration for the depth of a product line?
The trialability of the product line.
Product MixBreadth
The variety & number of product lines an organization offers.
Which of the following is NOTlikely to be true of low-involvement purchases?
They are in the mid to high-price range
Hiearchy of Effects
Think- awarness,knowledge Feel-liking,preference Do-convicition,purchase
Threat or Opportunity: Shrinking middle class
Threat
Which term below is used to describe the time in the Market Development Life Cycle when a technology has passed the test of usefulness and is now perceived as necessary and standard for many applications. All the pragmatists who were hanging back from committing are rushing into the market to make sure they don't get left behind. Customers of many types from many fields are making their first purchases of the technology, and revenues are growing at double or even triple-digit rates. Competition is fierce, with investors bidding up the stock of every company that can participate in the category.
Tornado
Marketers need a thorough understanding of the laws established by the federal government, state governments, and regulatory agencies.
True
Profits typically reach their peak during the growth stage of the product life cycle.
True
Horizontal channel conflict can arise for a variety of reasons. An example would be a toy manufacturer selling its toys through toy stores, discount stores, department stores, and even drugstores. Which factor cited below contributes to horizontal channel conflict?
Undifferentiated products and variable prices in the various channels
Percentage Margin
Unit margin/ price we all set(revenue per unit)
Perceptual Map:
Visual method of understanding your brand's positioning, relative to competitors, along factors that are important to a particular customer segment
In determining the effectiveness of sales promotions, which of the following metrics is NOT used by marketers?
Website bounce rate
In a study whose purpose is to determine the market for a vitamin that is to be chewed like bubble gum, what is the first question to be answered before a sampling plan is selected?
What is the population or universe of interest?
value orientation
a focus on the economic value created by an organization's product for a given customer
Hofestede's Cultural Dimensions
a framework used to sell internationally
Arizona Tea, marketed by Vultaggio & Sons. Vultaggio & Sons, took a basic drink and put it into unusual bottles with elaborate designs. The wide-mouthed, long-necked bottles are now considered to be trendsetters in the new age beverage industry, and customers often buy the tea just for the bottle. The success of Arizona Tea is based on:
a product differentiation competitive advantage.
Saucony is considering adding a new item to its Hurricane line of running shoes to increase its product line depth. All options would be acceptable EXCEPT:
adding a new private-label product
Owned media encompasses various types of media such as
all of the responses are correct
Value-Oriented Pricing
basing price of a product on its value to its chosen customers
Google uses a quality score as one of the factors to determine the rank or position of an ad on a search page. The quality score is primarily determined by the following factors EXCEPT:
bid rate of the advertiser
A channel steward uses power to influence, motivate, and manage channel partners. An example of a channel steward's use of hard power is a:
brand's unique product design.
Reframes an established value proposition to the customer or a company's established role in the value chain or both. Examples include chestnuts like Gillette's move from razors to razor blades, IBM's shift to on-demand computing, and Apple's expansion into consumer retailing.
business model innovation
When Castrol Syntec, a premium motor oil, sought a new way to reach its young, car-passionate audience, the brand found its mark with video games. In its first-ever attempt at in-game advertising, Castrol Syntec found a way to show consumers (in a virtual world) the brand's power and performance. In the communication process, the game served as a(n) _____ for transmitting the message.
channel
The intentional efforts of a company to design, manage, and evolve its channel strategy in light of changes that arise in the competitive and customer environments is referred to as:
channel stewardship
Product Adaptation: adapt communications, do not change product
communication adaption
Market-Driving
company creates new offerings based on its own version of the future
An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors is called:
competitive research.
adaption or polycentric pricing
complete decentralized pricing
All of the following factors directly influence consumers' level of involvement in the purchase process EXCEPT:
consumer's age
Types of Consumer Products
convenience, shopping, specialty, unsought
Geocentric Pricing
coordinated approach to leveraging global pricing experinces that take local issue into account
Walmart can achieve a _____ using its relationships with suppliers to create an advantage that, ultimately, allows it to give customers low prices and good customer service.
cost competitive advantage
A firm that wants to develop a deeper understanding of its customers may optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups. This is _____:
customer relationship management.
Company X sells their products exclusively to companies in the Y market. In estimating demand from their business customers, Company X must understand that this demand is actually _____________, which means that the demand for industrial products and services is driven by demand for consumer products and services.
derived demand
To help understand why attendance at the team's games was so poor, the Atlanta Falcons used marketing research to gather factual information. The organization used in-game surveys and end-of-season surveys of ticket holders. The gathering of factual statements is an example of marketing research in its _____ role.
descriptive
One configuration of a marketing channel entails producers selling to consumers without any intermediaries in the channel. This is called a(n):
direct channel.
All of the following are product characteristics influencing the rate of adoption EXCEPT:
distribution.
A company that wants to implement a market orientation would need to:
do all of the activities listed.
Assume Levi Strauss & Company sells its jeans in a wide variety of global markets. Physical environmental factors such as climate (e.g., heat, humidity) have influenced the types of jeans demanded and sold. For example, colder climates are well-suited for traditional length and weight jeans, while hotter climates prefer shorter and lighter weights. Likewise, differences in competitive landscapes (i.e., amount of competition, type of competition, and intensity of competition) have influenced brand positioning: Levis is positioned as relatively expensive and prestigious in Russia yet positioned as more casual and relatively inexpensive in the United States. For Levi's, which adaptation strategy is likely most appropriate across its global markets?
dual adaptation
The first stage of the new-product development process is:
establishing the new-product strategy
Market-Driven
firm uncovers customers needs through market research
All of the factors below affect why a company might customize prices EXCEPT: -consumer tastes -fixed costs -competition -nature of use - intensity of use
fixed costs
For claims about the product, positioning statements should:
focus on the single, most important value claim
Burger King's restaurants are independently owned, yet their managers adhere strictly to the policies laid out by the brand owner. This channel structure is called a(n):
franchised distribution network.
The functional value of a product to a customer is BEST understood by understanding the product's
functional benefits
When shopping for a smartphone, a consumer first compares prices to see which brand offers the lowest price. After also inspecting the product features of the various phones, however, she decides that the lowest-priced brand is not her choice. Instead, she selects the brand with the best features. This outcome is the result of the chosen brand's unique value claim that is known as:
functional value
What type of marketing strategy best exemplifies a straightforward mapping of a product to a customer's willingness to pay?
good-better-best vertical differentiation
New Balance offers a variety of types of shoes to its customers at various price points, typically in 3 basic tiers, based on the quality of the material and components of the shoe. This is an example of: pricing based on transaction characteristics observable buyer characteristics -good/better/best strategy controlling the availability of prices
good/better/best strategy
Soft power helps to build a constructive relationship among distribution channel members. One source of soft power is trust, which is:
having confidence in another party's integrity and reliability through their history of dealing with each other.
The first step in the marketing research process is to:
identify and formulate the problem/opportunity to be studied.
Categories of Adopters
innovators, early adopters, early majority, late majority, laggards
To achieve the realizations described in the question above, companies should turn to expert "___________" from far-flung fields with a novel perspective on users, rather than rely solely on users themselves.
interpreters
In the adopter categories, the final 16 percent to adopt are similar to innovators in that they do not rely on the norms of the group but are independent because they are bound to tradition. They tend to have the lowest socioeconomic status, are suspicious of new products, and are alienated from a rapidly advancing society. They are called:
laggards.
Which of the following is NOT one of the variables included a basic calculation of customer lifetime value?
market capitalization of the company over a period of time
Earl is starting a new bank. Before the opening day, Earl had a meeting with all employees. He discussed their mission, defined objectives for the bank for the coming years, and shared who their target market is. He talked about their product offerings and where their future branches would be located. Earl is sharing the bank's:
marketing plan.
A business is concerned with many day-to-day activities. Some of the most important of these activities are the planning and development of a product, its ability to communicate value, its pricing policy, and the distribution strategy. These activities are all a part of:
marketing.
The two major categories of communications are:
mass and interpersonal
EVC
maximum price a customer is willing to pay, so businesses usually charge less than this
Procter & Gamble markets six different brands of laundry detergent, each targeting a different market segment. This is an example of a _________ targeting strategy.
multi-segment
The external environment:
must be continually monitored by marketing managers.
The steps of the consumer decision-making process, in order, are:
need recognition, information search, evaluation of alternatives, purchase, postpurchase behavior
Small firms or firms with a unique product may choose to focus on a single segment and pursue a(n) _________ targeting strategy.
niche
Cost-Oriented Pricing
org applies a markup to its costs
Customer's Incentive to Purchase
perceived value - price
Through marketing research, the Boston Symphony Orchestra (BSO) learned it has an older market and is not attracting younger concertgoers. It next conducted marketing research to determine if a social media advertising and engagement campaign they were considering that would be targeted to the younger market would be successful. In its second use of research, BSO employed _____ marketing research.
predictive
Unit Margin
price we all set- cost to make/purchase
Dynamic Pricing
pricing approach where posted price is based on expected demand and typically perishable products(airline seats)- price changes super easily from day to day or even hour to hour
Product Adaption: do not change communications, adapt product
product adaptation
There are a number of detergents marketed under the Tide brand, including detergents with and without fabric softener, with and without bleach, with various pleasing smells, and fragrance-free formulations. These detergents are an example of Tide's:
product line.
A customer is comparing two similar products online. One is made in the United States, one in a foreign country to her. She opts for the choice made in the United States, judging it to be better quality despite favorable online reviews for each. This instinctual bias is known as:
provenance paradox
One role of marketing communications in the problem recognition stage of the purchase decision-making process is to
remind consumers of existing needs
Customer _____ ["churn rate", "defection rate", "retention rate", "attrition rate"] is the percentage of customers who stay with a company in a given period, while customer _____ ["retention rate", "yield rate", "churn rate", "equity"] is the percentage of customers who leave a company within a given period of time.
retention rate, churn rate
geodemographic segmentation
segmenting potential customers into neighborhood lifestyle categories
Americans' core value of upward mobility (i.e., success will come to anyone who works hard) has greatly influenced the way luxury goods are marketed. This phenomenon is an example of a(n) _____ factor.
social
The group of customers who receive high value from customer experience and who provide high value to the company are referred to as
star customers
Product Adaptation: do not changed communications and do not change product
straight extension
SWOT analysis
strengths, weaknesses, opportunities, threats
The most popular method for gathering primary data is _____, in which a researcher interacts with people to obtain facts, opinions, and attitudes.
survey research
customer lifetime value
takes into account both the value organizations get from customers and the value they give to customers
The author suggests that if companies want to create breakthrough products, "they should seek to understand how those technologies could be used to address needs that customers may not realize they have." These realizations are termed:
technology epiphanies
Customer Equity
the total value of current and future customers
A carefully selected group of consumers who agree to participate in an ongoing online dialogue with a particular corporation is known as a(n):
web-based ethnographic group.
Environmental Forces Effectig Marketing
•Demographic •Social/Cultural •Technological •Natural Environment •Economic •Political/Legal •Competitive
Message
•Message •Conflict •Character(s) •Plot •Memes
Money - Budgeting
•To p-Down Budgeting Approach•advertising-to-sales ratio•Competitive Benchmarking•share of voice •Bottom-Up Budgeting Approach•objective-and-task method: set strategic goals for marketing communications, then determine how much it will cost to achieve them
IKEA has a breakeven volume of 100,000 units for their new AGUNNARYD lamp. The variable cost per unit is $75 and the revenue per unit is $99.99. The fixed costs are:
$2,499,000
The basketball season is about to start, and the owners of the Red Lions team want to advertise that fact in their home metropolitan area. They plan to run a full-page newspaper ad in Metro News. The readership (reach) of Metro News is 850,000 and the cost of the ad is $82,000. What is the cost per thousand (CPM) of this campaign?
$96.47 CPM = Cost / (Reach/1,000) CPM = $82,000 / (850,000/1,000)
Unitary Elastic
- An increase in sales exactly offsets a decrease in prices, and revenue is unchanged - E=1 - Price increase or decrease, demand stays the same
Compensatory vs. Non-Compensatory
- Compensatory: customer considers (or attempts to consider) all of the attributes that are relevant, making trade-offs between & among attributes - NonCompensatory: customer considers some, but not all, of a product's attributes, and ignores potential trade-offs between attributes
Resonance - Laddering Up
- Feature Positioning - Benefit Positioning -Value Positioning
Criteria for Segmentation
- Identifiable and measurable - substantial - accessible - stable - differentiable - actionable
Points of Successful Businesses
- Make brand decisions subservient to decisions about customer relationships - Build brands around customer segments -Make brands as narrow as possible - Plan brand extensions based on customer needs, not component similarities -Develop the capability and the mind-set to hand off customers to other brands in the company - Take no heroic measures -Change how you measure brand equity
Categories of New Products
- New-to-the-World - New Product Lines - Product Line Additions - Improvements or Revisions
Inelastic Demand
- an increase or decrease in price will not significantly affect demand - 0<E<1 :relatively inelastic - E=0: perfectly inelastic -Price increases, demand increased -Price decreases, demand decreases
Elastic Demand
- consumers buy more or less of a product when the price changes - E = ♾ : perfectly elastic - 1<E< ♾ : relatively elastic (+ and - #s) - Price increases, demand decreases - Price decreased, demand increased
Red Ocean Strategy
- focus on current customers - compete in existing markets - beat the competition - exploit existing demand - make the value-cost trade off - align whole system of a cirm activities with a low cost
Blue Ocean strategy
- focus on non-customers - create unconestsed markets to serve - make the competition irrelevant - create and capture new demand - break the value- cost trade off - alight the whole system of a firm's activities in pursuit of differentiation
CVL limitations
- info needed to calculated CVL isn't always easy to access - specifically, individual level data related to CVL -CVL does not account for the strategic and qualitative factors associated with customers
The demand curve suggests that an auto manufacturer will sell 20,000 Mercedes-Benz M-Class vehicles when they are priced at $50,800, but when the price is reduced to $45,000, that quantity will increase to 27,000 units. What is the resulting elasticity?
-3.07
Powers of the FTC
-Cease-and-Desist Order -Consent Decree -Affirmative Disclosure -Corrective Advertising -Restitution -Counteradvertising
The process by which the adoption of an innovation spreads.
-Complexity -Trialability -Observability -Relative Advantage -Compatibility
Benefits of Product Line Depth
-Efficient Sales andDistribution -Standardized Components -Package Uniformity -Advertising Economies
Product Structure
-Generic Product:combination of elements required to participate in the market -Expected Product:generic product + minimum the customer expects from a product in the category -Augmented Product:goes beyond expected product to include unexpected value-enhancing elements -Potential Product:extension to the augmented product that includes "everything that might be done to attract and hold customers" (goes beyond what most people might conceive of as possible)
Benefits of Product Mix Breadth
-Leverage Key Asset -Offset Risk -Ta p I nto C o mpl e me nta r y Of fe r i ngs
evalutation of alternatives
-Total Set - Awareness Set - Consideration Set -Choice Set - Decision
6M Model of Marketing Communication
-missions -markets -message -media -money -measurement
A cruise line could control the availability of prices by offering deals to specific groups of buyers based on all of the following EXCEPT: -coupon usage -competition -information gathered via e-commerce -purchasing history -location
-purchasing history
Forces Affecting Global Marketing
1. Company Influences: growth strategy, risk tolerance, company brand capabilities 2.Market Influences: global market growth 3.Industry Influence: competitive advantage, supply chain, market channel structure 4.Regional Influences: economic, political systems, trade policies, legal regulatory hurdles
The Four Dimensions of customer value
1. Economic Value(total ownership or life cycle) 2. Functional Value 3. Experimental Value 4. Social Value
4 Orientations of Marketing (Historical)
1. Production: what can we make or do best ? 2. Sales: How can we sell more aggressively? 3. Marketing: What do customers want/need? 4. Societal: What do customers want/need and how can we benefit society?
Effective Positioning Statements
1. Target Customers 2. Wants of the customer 3. Product type and category 4. Key benefits to be provided to target customer
3 Cs of Brand Positioning
1.Consumer Analysis 2.Competitive Analysis 3.Company Anylysis
4 Cs of Customer-Centric Culture
1.Coordination 2.Cooperation 3.Capability 4.Connection
Positioning Statement4 Essential Components
1.For whom, for when, for where? 2.What value?•(consider economic, functional, experiential, &/or social) 3.Why and how? 4.Relative to whom?
6 M Model of promotion
1.Market 2.Mission 3.Message 4.Media 5.Money 6.Measurement
2 Primary Goals for Government in Economy
1.Protect Competition 2.Protect People (consumers, employees, community)
Porter's Five Forces
1.Threat of New Entrants 2.Customer Bargaining Power 3.Threat of Substitutes 4.Supplier Bargaining Power 5.Internal Competition
Customer Centricity Steps
1.Understand the Customer 2.Build a Customer-Centric Culture 3.Serve the Customer
Characteristics of Winning Products
1.are superior to competitors' products in terms of meeting users' needs 2.solve a problem the customer has with a competitive product 3.feature good value for the money; excellent price & performance characteristics 4.provide excellent product quality, according to customers' way of defining quality 5.offer features easily perceived as useful by the customer 6.offer benefits that are highly visible to the customer
Which of the answer choices correctly ranks, from lowest risk to highest risk, the following methods of foreign market entry? 1. Foreign direct Investment 2. Franchising 3. Indirect export 4. Product joint venture
3, 2, 4, 1
Which of the following services would be most likely to exhibit strong credence qualities?
A credence quality is a characteristic that cannot easily be assessed even after purchase and experience. - A math tutorial service
If a brand is truly global, which of the following brand variables is typically the same across geographies? (A) Positioning (B) Product name and features (C) Promotion
A, B, and C
Existing customers who have visited the store in the last six months
Accessible,Identifiable
Which of the following type of online advertising intermediaries decide the placement and pricing of online display ads by using the supply and demand of the ad landscape in a real-time auction process?
Ad Exchangers
The _____ is a strategic opportunity matrix matches products (or offerings, including services, more generally) with markets (i.e., customer segments). .
Ansoff Matrix
Which of the following statements about economic value to the customers (EVC) is FALSE?
Any two customers will derive the same EVC for the same product.
Takes existing technologies into new markets to serve new purposes, as when Tandem applied its fault-tolerant computers to the banking market to create ATMs and when OnStar took Global Positioning Systems into the automobile market for roadside assistance.
Application Innovation
_______ product goes beyond the expected product to include unexpected value-enhancing elements.
Augmented
Which of the following accurately matches the stages of the hierarchy of effects model to the intended outcomes of marketing communications?
Awareness and Knowledge = think
Threat or Opportunity: Customers moving to higher and lower-priced products
Both
Threat or Opportunity: Introducing new, lower-priced products to the market
Both
M.A.C. cosmetics used previously collected data from earlier studies and conducted surveys, in-person interviews, and focus groups to help inform their positioning strategy. Which of the following did they use?
Both primary and secondary data
Ben & Jerry's Ice Cream buys keywords for a search marketing campaign such as "Ben & Jerry's Chunky Monkey" and "Ben & Jerry's Cherry Garcia." What type of keywords is the firm buying?
Branded Keywords
Marketers often use which of the following techniques to determine the impact of a price on volume required to reach profitability?
Breakeven Analysis
Which of the following is an analysis that the channel steward does NOT need to perform when mapping a channel value chain?
Breakeven Analysis
Which of the following is not one of the Five C's from the Framework for Market Strategy Formation?
Capital
Which of the following is NOT identified as one of the factors that should influence the selection of segments for target markets?
Company Fit
Based on the HBP reading, which of the following is NOTrequired to achieve a customer-centric culture?
Cost
Which method for building experiential value is most likely to have the most variability for consumer-based service organizations such as hotels and restaurants?
Customer Service
_____ is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits.
Customer value
Customer value has two sides: capturing value through customer profitability and delivering value through customer experience .
Customer value has two sides: capturing value through customer profitability and delivering value through customer experience .
Extension or Ethnocentric Pricing
"one price fits all"
During which stage of the process does the marketer lead the preliminary analysis and calculations for demand, cost, sales, and profitability?
Developing a business analysis
Markets appear as if from nowhere, creating massive new sources of wealth. It tends to have its roots in technological discontinuities, such as the one that enabled Motorola's rise to prominence with the first generation of cell phones, or in fast-spreading fads like the collector card game Pokémon.
Disruptive Innovation
Which of the following statements is INCORRECT regarding concepts associated with the value chain?
Distribution channel concepts are relevant to B2C transactions, not B2B transactions.
Product Adaptions: Adapt Communications, adapt product
Dual Adaption
Financing plans to spread out payments over 12, 24, or 36 months
Economic Value
Value calculator on the Peloton website to help you determine how much you could save on Peloton equipment/subscription over a gym membership
Economic Value
Makes surface modifications that improve customers' experience of established products or processes. These can take the form of delighters ("You've got mail!"), satisfiers (superior line management at Disneyland), or reassurers (package tracking from FedEx).
Experiential Innovation
Peloton branded apparel
Experiential Value
Sleek modern design that mimics the look of cool racing cycles
Experiential Value
Marketers can control the external environment in which their organizations operate.
False
Services tend to exhibit more search qualities than do tangible goods.
False
Over 1000 classes across many exercise categories not tied to just the equipment you purchase
Functional Value
Resistance knob that will automatically adjust based on the instructor's recommended resistance during a class
Functional Value
Which of the following is not a channel option between a supplier (also known as the producer, assembler, or manufacturer/maker) and its customers when the supplier wants to leverage an intermediary to create an indirect channel?
Going directly to the end customer through its own sales and distribution system
In deciding between an integrated versus an arm's length approach to channel structure, trade-off considerations are important. Which trade-off below is NOT part of these considerations?
High competition versus low competition
Teens who shop at the Gap
Identifiable,Actionable
John Deere & Co. is deciding whether to use a feature-based claim or a benefit-based claim for its new JD 750 tractor's positioning. Which of the following is a benefit-based claim?
Improved maneuverability and flexibility
Which of the following is NOT one of the four unique elements to services?
Incoherency
________ is a form of distribution aimed at having a product available in every outlet where target customers might want to buy it.
Intensive
Which marketing management philosophy focuses on the question, "What do customers want and need?"
Market
Company profile: "Our products are sold in more than 35 markets around the world and our global independent sales force exceeds 2 million. You've got dreams. Whether it's earning a little extra cash or making a full-time commitment, and a sales consultant opportunity offers the freedom, flexibility and, of course, the fun that you've been looking for."What is the firm's orientation?
Market-oriented
Improves customer-touching processes, be they marketing communications (use of the Web and trailers for viral marketing of The Lord of the Rings movie trilogy) or consumer transactions (Amazon's e-commerce mechanisms and eBay's online auctions).
Marketing Innovation
A manufacturer of fashion accessories hopes to improve its brand image by upgrading the leather it uses in handbags, gloves, and wallets. When the firm decides to buy a higher quality leather from a vendor, it will most likely be engaged in which of the following types of purchases?
Modified rebuy
