MKT 4469 final - chapter quizzes

earned

carrie maintains a cooking blog, and she often mentions products by name if she feels they are especially nutritional and easy to obtain. the is an example of ________ media. earned display owned free paid

low in search qualities

compared to products, services are ____________________. low in search qualities low in credence qualities separable in nature easy to evaluate tangible in nature

desire

during the ______________ stage of the AIDA model, promotional messages are altered so that a customer feels they simply must have the product and can't live without it action desire attention attitude interest

facilitating

financing, market research, risk taking, and other services are considered to be _____________ functions. facilitating transaction and communication transportation and storage physical distribution e-commerce

high price, low benefits

firms and brands that continually attempt to operate in the _________________ quadrant do not survive over the long run as customer trust is damaged. some firms use price skimming strategies, especially on product introductions, even when all the bugs have yet to be worked out of the product. high price, high benefits low price, low benefits high price, low benefits low price, high benefits low price, no benefits

penetration pricing

firms should be careful with a ______________ strategy, as a price is a cue for developing customer perceptions may be reduced if a low price belies the product's actual quality attributes. value pricing price skimming penetration pricing competitor based pricing target ROI

A

firms that are customer centric exhibit a high degree of customer orientation, which means that they __________________. instill an organization wide focus on understanding customers' requirements align system capability externally so that an organization can respond with competitively similar goods and services develop mass produced goods and services that sell well in both large and small markets treat employees as customers and develop systems and benefits that satisfy their needs generate an understanding of the marketplace and keep that information confidential

product sampling

gilette sends out a free razor to induce switching from an older model. this is an example of using _______________ as the sales promotion approach. premiums product sampling coupons comparative parity method product placements

administered

in a(n) _______________ vertical marketing system, one channel member may be placed in a position of channel control. corporate administered contractual referent organic

green

in the 1930s, companies and consumers began to realize that utilizing resources efficiently and effectively was good for society and beneficial to business. this grew into the _____________ movement. direct investment profitability consumer orientation green active citizen

matrix

in the context of organizational structures, most companies today use some form of ____________ structure that encourages regional autonomy while building product competence in key areas around the world. targeted orientation global product lines geographic region matrix

merchant intermediaries

in the context of the distribution channel, which of the following takes title to a product? brokers commission dealers product promoters agent intermediaries merchant intermediaries

message communication without high costs of personal selling

in the context of the promotion mix elements, which of the following represents a strength specific to social media marketing? ability to stimulate purchase directly through incentive to buy many provider choices message customization without high costs of personal selling unpaid communication seen as more credible than paid forms great creative flexibility

creating assortments

intermediaries engage in _________________________ when they accumulate products from several sources and then make those products available down the channel as a convenient assortment for consumers. disintermediation reducing transactions transportation and storage functions creating assortments facilitating functions

A

A service blueprint borrows concepts from manufacturing and operations management to allow a service firm to _________________. A) map out a complete design and flow of all the activities related to customer service B) measure customers' expectations of service C) map out the route that service people follow when they leave in the mornings D) analyze feedback received from customers after the sale of a service to improve service quality E) assess the quality of services provided by an employee

E

One of the central concepts of the service profit chain is to ___________. A) encourage employees to engage in groupthink and to resist any change to existing systems B) create elements of change within people to do things above their capabilities C) implement market penetration strategies in order to increase sales and profitability D) enable a firm's customers to participate and contribute in strategic decision making E) create an environment in which all employees can be successful

a price war

_________________ can occur when a company purposefully makes pricing decisions to undercut one or more competitors and gain sales and net market share. price skimming a price war cost leadership price discrimination price elasticity of demand

communication

_________________ is the interactive channel that allows companies to interact with customers in three key ways community customization context connections communication

A

__________________ is an example of a nontechnology communication selling activity. A) enhancing language and overall communication skills B) developing database management skills C) creating useful company web page content D) identifying and targeting key customer accounts E) leaving voice mails messages

advertising in mass media

a manufacturer employing a pull strategy would engage in ________________. paying slotting allowances offering discounts to wholesalers advertising in mass media offering shelf fee to intermediaries investing in intermediaries

direct sales force

a technology or high end industrial product company is most likely to use a(n) ______________ in foreign markets because customers expect the expertise of highly trained, accessible personnel. broker export agent distributor direct sales force freight forwarder

corporate

a(n) _______________ vertical marketing system creates a powerful competitive advantage in the marketplace due to cost and process efficiencies realized when a channel is strictly controlled by one entity. corporate distributive contractual disintermediated administered

breaking bulk

an intermediary works with large consumer product manufacturers as well as small local retailers. the company buys large quantities of products from the manufacturers and sells them in smaller quantities to retailers to better match quantities needed for space constraints and inventory turnover requirements. the intermediary is performing the distribution function of __________________ breaking bulk disintermediation assortment creation accumulating bulk reverse logistics

target return

as with average cost pricing, the effectiveness of _____________ pricing is highly dependent on the accuracy of the forecast. cost plus reference psychological average cost target return

personal selling

brianna is a marketing manager who wants to have a strong two way communication of ideas with customers and she considers it very important to directly ease customer confusion and persuade them to purchase. she does not care much about whether the cost per customer contact will be expensive. based on the manager's consideration, ____________ will be the most appropriate promotional form advertising sales promotion personal selling viral marketing direct marketing

rebates

_______________ refer to a price reduction for purchase of a specific product during a specific time period. premiums rebates contests and sweepstakes coupons loyalty programs

price bundling

Bright House wants Madhukar to buy the full gamut of entertainment products, and the more he buys--digital television, premium channels, downloadable movies, local and long distance phone service, cellular service, high speed internet--the better the deal becomes compared to the total of the individual prices of each product. Bright house is using a ____________ strategy. reference pricing prestige pricing captive pricing price bundling product line pricingq

employee turnover

In the service profit chain, external service value leads to all of the following except ______________. customer satisfaction profitability employee turnover revenue growth customer loyalty

distributors

_______________ represent an exporting firm in a foreign market. they become the face of a company through servicing customers, selling products, and receiving payment. They often take title to the goods and resell them. brokers export agents distributors direct sales forces freight forwarders

political or legal

John, the CEO of Trensel Inc., learns that the government of one of his company's foreign markets has enacted a new law that limits the amount of profit it can make. he projects that this will result in future losses. if John researches the _____________ environment, he can plan a strategy to deal with this situation. economic cultural and societal business political and legal geographical

assurance

Mariette was highly regarded by her customers in the bakery because she was knowledgeable about the product and was always courteous to customers. Her customers' faith in her demonstrated ____________________. assurance reliability empathy responsiveness tangibility

competitor based pricing

Mark owns a driving range in NYC. He has taken notice of the three competitors whoa re located very close to his business. Mark decides to look at his competitors' pricing and then determine his best pricing strategy based on all of the information. In this scenario, Mark is utilizing _________________. price skimming penetration pricing target ROI value pricing competitor based pricing

strategic alliance

NaviCal Inc., a personal navigation system company, has contracted its manufacturing to a firm in Malaysia for five years. NaviCal had high financial growth, and it wants to purchase the manufacturing facility. This market entry method is called _________________. franchising strategic alliance joint venture direct foreign investment licensing

fixed; variable

________________ costs are incurred over time, regardless of volume, whereas ______________ costs fluctuate with volume. fixed; variable marginal; total variable; total total; variable variable; fixed

companies that hire their students

Some business schools take the approach that the primary customer for their business are ___________________. professors and lecturers parents and relatives of students graduate schools companies that hire their students professional health care service providers

A

The basis of the Gap model of Service Quality is the _____________. A) identification and measurement of differences in five key areas of the service delivery process B) recognition of suitable techniques for resource management to achieve better service quality C) improvisation of the face to face time between customer and service provider, often called the moment of truth D) elimination of gap between an organization's and its employees' perceptions of the customer experience E) examination of the differences between the objectives of management and employees

B

The service profit chain is designed to help managers better understand the key linkages in a service delivery system that drive ________________. A) customer satisfaction, promotion, and higher demand B) customer loyalty, revenue growth, and higher profits C) production and distribution D) brand awareness and economies of scope E) marketing and sales

gross domestic product

____________ is one of the most widely used measures of economic growth. return on investment break even point gross domestic product six sigma stock market index

frequency

_____________ measures the average number of times a person in a target market is exposed to the message. noise relevancy frequency impact reach

value

______________ is the net benefits (or costs) associated with a product or service, and it is affected by the buyer's trust that the company will keep its promises. value outlay exchange accreditation gain

immediate feedback

_______________ is one of the three distinct advantages of personal selling. elimination of noise low cost per exposure large variety of media consistent message immediate feedback

outbound

________________ logistics is the process that starts with production and ends with the delivery of a final product. inbound outbound reverse bulk third party

only the most relevant

organization should engage in _________________ social networking platforms one or two all at least five or six the four most popular only the most relevant

to persuade

questions such as "why should a construction project lease caterpillar equipment instead of kamatsu?" and "what are the advantages of the toyota camry over the honda accord, and vice versa?" are related to which of the following capabilities of promotion? to remind to sell to persuade to take action to inform

identify targets for promotion

the first step a manager should take in the promotion strategy process is to ____________ develop a message identify targets for promotion select a promotion mix establish measures of results prepare a budget

institutional

the goal of ____________ advertising is to promote an industry, company, family of brands, or some other issues broader than a specific product. product institutional pioneering comparative competitive

auction pricing

the internet created a rise in ______________ as more and more people decided to meet online to sell products to the highest bidder. trade discounts stability pricing prestige pricing price elasticity price elasticity of demand auction pricing

reward

the motivating force for suppliers to work with large chain stores is that the stores can offer huge __________ power in the form of writing big orders. reward expert legitimate referent coercive

newspaper

what is an example of measured media? social media direct marketing promotion e-mail marketing newspaper

attitude

what is not included in the AIDA acronym attitude attention interest desire action

gaining product publicity and buzz

what is one of the three core functions of public relations that are most closely aligned with the role of a marketing manager? gaining product publicity and buzz developing new products for new market segments serving as organizational spokesperson attaining funds for marketing campaigns handling investor relations

price bundling

when Claire purchased her new cell phone, she was offered an opportunity to purchase a car charger and cover together at a reduced price. the cell phone provider was using a ________________ strategy. product line pricing reference pricing captive pricing price bundling prestige pricing

A

when a company follows a customer centric philosophy with a high degree of customer orientation, it is likely to _____________. A) generate an understanding of the marketplace and disseminate that knowledge to everyone in the firm B) place customers at the top of the organizational chart C) keep everyone up-to-date on the progress of relevant legislation D) align system capability externally so that the organization can respond with competitively similar goods and services E) produce products solely for the loyal customers from higher socioeconomic status

bait and switch

when a seller advertises an item at an unbelievably low price to lure customers into a store, and then refuses to sell the advertises item and instead pushes a similar item with a much higher price and higher margin, the seller is participating in the illegal practice of _______________. predatory pricing psychological pricing price fixing bait and switch price discrimination

comparative

when two or more brands are reviewed against each other on certain attributes, it is considered _____________ advertising. pioneering covert competitive comparative institutional

leaving voicemail messages

which of the following best reflects a technology oriented communication selling activity? following up after customer contact listening effectively developing time management skills leaving voice mail messages developing effective presentation skills

cost

which of the following channel strategies helps in increasing the efficiency of local distribution systems by eliminating unnecessary middlemen? cost coverage character continuity control

direct channel

which of the following has no intermediaries and operates strictly from producer to end-user consumer or business user? direct channel virtual network indirect channel physical distribution exclusive distribution