mkt final
_____ research is the study of human behavior in its natural context, involving observation of behavior and physical setting. Ethnographic Visualization Survey Experiment Action-based
Ethnographic
Nestlé's quest is to make some of its existing products more nutritious and provide a health benefit. This is an example of which type of product modification? Functional Ingredient Style Extension Brand
Functional
Men who drink Dos Equis beer Identifiability and Measurability Responsiveness Accessibility Sustainability
Identifiability and Measurability Accessibility Sustainability
Company website: "We realize it is a privilege for our products to be invited into our customers' homes and we strive to exceed their expectations. State-of-the-art worldwide physical testing labs allow us to continually analyze the quality of our raw materials, construction methods, and finished products." Sales-oriented Market-oriented Product-oriented Societal
Product-oriented
What are the twin pillars of marketing? Customer relationships, segmentation Product, place Customer relationships, promotion Segmentation, differentiation
Segmentation, differentiation
An appliance repair shop Weekly design and printing needs, purchase decisions may be made by a marketing professional High-end design and inexpensive printing needs, purchase decisions made by owner Simple printing needs, purchase decisions made by owner who is price sensitive Large design pieces and expensive printing needs, purchase decisions must be approved by manufacturer
Simple printing needs, purchase decisions made by owner who is price sensitive An appliance repair shop. Infrequent printing--often the same materials.
Magazine advertisement: "Your well being is important to us. It's our commitment to The Greater Good." Sales-oriented Market-oriented Product-oriented Societal
Societal
Mission statement: "Continuing the founder's legacy of commitment to consumers, community and children, we provide high-quality products while conducting our business in a socially responsible and environmentally sustainable manner." Sales-oriented Market-oriented Product-oriented Societal
Societal
_____ use another manufacturer's already established channel and are used most often when the creation of marketing channel relationships may be expensive and time-consuming. Relationship channels Multiple distribution systems Reverse channels Strategic channel alliances Nontraditional channelization
Strategic channel alliances
Households in select zip codes with > $50,000 annual income Sustainability Accessibility Responsiveness Identifiability and Measurability
Sustainability Accessibility Responsiveness Identifiability and Measurability
Shrinking middle class Threat Neither Both Opportunity
Threat Shrinking middle class - [Threat] The shrinking middle class is a force that is outside the control of P&G and could negatively impact P&G's long-standing strategic approach to the marketplace.
Profits typically reach their peak during the growth stage of the product life cycle. True False
True
An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors is called: an audit. differential competitive advantage. competitive intelligence. industrial espionage. competitive research.
competitive intelligence.
The most popular method for gathering primary data is _____, in which a researcher interacts with people to obtain facts, opinions, and attitudes. heuristic oriented survey research experiments observation research single-source research
survey research
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 community. online focus group. webinar. web-based ethnographic group. focus blog.
web community.
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: human resources. marketing. a control system. accounting. production.
marketing.
The two major categories of communications are: long term and short term. direct and indirect. verbal and nonverbal. mass and interpersonal. informative and persuasive.
mass and interpersonal.
The external environment: does not change over time. can be controlled in much the same manner as the internal marketing mix. does not have an impact on Fortune 500 companies. cannot be influenced by marketing managers. must be continually monitored by marketing managers.
must be continually monitored by marketing managers. The goal in gathering the environmental data is to identify future market opportunities and threats.
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 objective descriptive normative historical
predictive
Runners recovering from an injury: Distribution Promoted through natural health magazines Through sports physiologists, podiatrists, orthopedists Promoted through event sponsorship
Through sports physiologists, podiatrists, orthopedists
A _____ is a study conducted by an organization to identify its internal strengths and weaknesses and also examine external opportunities and threats. situation analysis marketing audit trend analysis strategic alternative selection competitive advantage audit
situation analysis
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. technological political and legal economic demographic social
social
________ is a form of distribution aimed at having a product available in every outlet where target customers might want to buy it. Multiple Intensive Exclusive Cumulative Aggregated
Intensive
Imagine that you work for a company that produces premium coolers designed specifically for fishing, hunting, and other outdoor activities. The company would like to gain a better understanding of how customers make decisions about which coolers to buy. Your marketing team is being asked to explain how two different customer segments might progress through each stage of the consumer decision process (need recognition, information search, alternative evaluation, purchase, and postpurchase). One customer segment consists of people who are serious fishing, hunting, and outdoor enthusiasts and take all of their gear, including their coolers, very seriously. The other customer segment consists of mothers with young kids who are looking for coolers to use during family activities such as going to a soccer game or going to the beach/park. They really do not know much about the various features of premium coolers and are often more influenced by what they see other families using. Outdoor Enthusiasts U02_Graphic06B.jpg Mothers with Young Children U02_Graphic06A.jpg Within each stage, be sure to identify the relevant factors and/or influences that were discussed in the textbook and previous lessons. In other words, identify how a need is recognized and how internal vs. external sources are used when searching for information. You should also consider the rise of social commerce and how that might impact the decision process for each of the two segments. For example, consider the ability to purchase items through social networks like Pinterest and the increasing use of customer reviews before making a purchase. Let's start with outdoor enthusiasts. Match the relevant factors/influences for each state of the decision-making process. Outdoor Enthusiasts
Need Recognition Hunting/Fishing Season Sees friends/peers with better cooler Information Search Mostly internal, perhaps, because they have had a lot of experience with other friends with coolers or come across a number of ads or reviews of them in related magazines Evaluation of Alternatives Consider/prioritize functionality to keep ice/animals cold and durability to hold up in extreme conditions Purchase Consider purchasing from Cabela's Bass Pro, or other specialty stores where they purchase other gear Postpurchase May experience cognitive dissonance based on functionality expectations; may share experiences with friends on hunting and fishing trips
Now let's think about mothers with young children. Match the relevant factors/influences for each state of the decision-making process. Mothers with Young Children
Need Recognition Summer or Sports Season Sees other families with better cooler Information Search Mostly external, perhaps, because of lack of experience with coolers and lack of interest in coolers relative to other purchases; might rely solely on non-marketing dominated sources if they tend to be product researchers or marketing-dominated sources if not Evaluation of Alternatives Consider/prioritize ability to use in multiple situations and price Purchase Consider purchasing from Academy, Walmart, Target where they purchase other family items Postpurchase May experience cognitive dissonance based on versatility expectations; may share experiences with other families and through reviews or social media, if extremely satisfied or dissatisfied
Introducing new, lower-priced products to the market Opportunity Both Neither Threat
Neither Introducing new, lower-priced products to the market - [Neither] This is a marketing tactic that P&G could use to respond to opportunities and threats in the market. Since this is an internal decision under P&G's control, this would not be considered an opportunity or threat.
P&G has a lot of brands in the marketplace at different price points Opportunity Neither Both Threat
Neither P&G has a lot of brands in the marketplace at different price points - [Neither] This is something that is under the direct control of P&G and, thus, would be most likely considered a strength for P&G rather than an opportunity or threat.
Which of the following is not one of the stages of the product lifecycle? Maturity stage Growth stage New product strategy stage Introductory stage Decline stage
New product strategy stage
Assume a firm sells 1M units of its product for $10 and has a 30% gross profit margin ($3). Cutting the price to $9.50 might stimulate unit sales by 10%. Will the assumed increase in sales volume offset the decrease in margin? Yes, the increase in sales will offset the decrease in margin due to increased demand. No, the increase in sales will not offset the decrease in margin. There is no way to tell without knowing variable and fixed costs.
No, the increase in sales will not offset the decrease in margin.
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 primary demand selective demand secondary demand
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 normative predictive historical objective
descriptive
One configuration of a marketing channel entails producers selling to consumers without any intermediaries in the channel. This is called a(n): alternative channel. indirect channel. reciprocal channel. direct channel. limited distribution system.
direct channel.
The first stage of the new-product development process is: screening and concept testing the building of a prototype exploring opportunities developing a business analysis establishing the new-product strategy
establishing the new-product strategy
Runners competing in the "mudder" type races that involve obstacles and messy conditions: Price Points High price Lower Price
High price
Runners recovering from an injury: Price Points Lower Price High price
High price
Customers moving to higher and lower-priced products Both Threat Neither Opportunity
Both Customers moving to higher and lower-priced products - [Both] Depending on how the company considers this issue, they could arguably view it as an opportunity or threat (and, perhaps, most appropriately, they should view it as both). This issue might represent an opportunity if P&G is able to develop marketing programs in response that can successfully reach one or both ends of the market (i.e., high and low).
_____ is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits. Market quality Opportunity cost Marketing utility Customer value Satisfaction percentage
Customer value
A nationwide restaurant chain that varies its menu based on its location is an example of what kind of segmentation: Demographic Geographic Benefits Psychographic Usage
Geographic
Cutting costs is the best way to maximize profitability. True False
False
A local car dealer Weekly design and printing needs, purchase decisions may be made by a marketing professional High-end design and inexpensive printing needs, purchase decisions made by owner Simple printing needs, purchase decisions made by owner who is price sensitive Large design pieces and expensive printing needs, purchase decisions must be approved by manufacturer
Large design pieces and expensive printing needs, purchase decisions must be approved by manufacturer A local car dealer. Large, expensive direct mail pieces sent quarterly based on camera-ready artwork provided by manufacturers. Each business has different needs, financial sensitivities, and buying processes. The repair shop has simple printing needs and the purchasing decisions are made by the owner of the business who is most likely price sensitive. The furniture importer may want some graphic design services in addition to simple printing needs. The owner may have a marketing professional that will make the decisions. The car dealer will spend a lot of money on these quarterly brochures, but the printing has to be approved by the automobile manufacturer who will design the brochures and provide the artwork. The swimming pool company will be similar to the appliance repair shop but will have an additional need for their primary brochures. The printer may be involved in the graphic design and photography in addition to printing.
Runners wanting to experiment with "barefoot" running: Price Points High price Lower Price
Lower Price
Which marketing management philosophy focuses on the question, "What do customers want and need?" Sales Product Internal Market Production
Market
"One-size-fits-all" marketing is largely out of date. True False
True
Clear Channel owns hundreds of radio stations across the U.S. How do they decide what kind of music to play on a particular station? Geographic Demographic Usage Benefits Psychographic
Demographic
Marketers can control the external environment in which their organizations operate. True False
False Although marketers can control the marketing mix and perhaps influence the external environment, they cannot control the external environment in which their organizations operate.
Why is targeting a specific group of customers usually more successful than trying to appeal to everyone? It will satisfy the segment's specific needs It costs less It takes less effort Customer interests change
It will satisfy the segment's specific needs
Which of the following is the inventory control system that manages the replenishment of raw materials, supplies, and components from the supplier to the manufacturer? Electronic data interchange (EDI) Distribution resource planning (DRP) Third party logistics firm (3PL) Activity-based costing (ABC) Materials requirement planning (MRP)
Materials requirement planning (MRP)
Runners wanting to experiment with "barefoot" running: Product Configuration More structured shoes with endorsement and sales Minimal structure More aggressive ankle protection and tread pattern, waterproof
Minimal structure
Runners competing in the "mudder" type races that involve obstacles and messy conditions: Product Configuration Minimal structure More aggressive ankle protection and tread pattern, waterproof More structured shoes with endorsement and sales
More aggressive ankle protection and tread pattern, waterproof
Runners competing in the "mudder" type races that involve obstacles and messy conditions: Distribution Promoted through natural health magazines Promoted through event sponsorship Through sports physiologists, podiatrists, orthopedists
Promoted through event sponsorship
Runners wanting to experiment with "barefoot" running: Distribution Promoted through natural health magazines Promoted through event sponsorship Through sports physiologists, podiatrists, orthopedists
Promoted through natural health magazines
Which of the following services would be most likely to exhibit strong credence qualities? Consulting services for insurance coverage A math tutorial service Tax return preparation The repair of a leaky drain
Tax return preparation
Competitors are starting to introduce lower-priced options into the market Neither Threat Opportunity Both
Threat Competitors are starting to introduce lower-priced options into the market - [Threat] The actions of competitors are external to P&G and not under their direct control. Alternatively, if there are not many strong competitors in the lower-end part of the market, this might represent an opportunity for P&G.
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. sender channel encoder receiver decoder
channel
All of the following factors directly influence consumers' level of involvement in the purchase process EXCEPT: consumer's age previous experience with the product perceived risk of negative consequences as a result of the purchase social visibility of the purchased item financial risk associated with the product
consumer's age Age is a demographic variable that doesn't necessarily influence a consumer's level of involvement.
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 optimization. customer relationship management. social orientation. sales maximization. sales orientation.
customer relationship management.
All of the following are product characteristics influencing the rate of adoption EXCEPT: relative advantage. distribution. observability. complexity. compatibility.
distribution.
A company that wants to implement a market orientation would need to: determine how to deliver superior customer value. do research on its customers, competitors, and markets. establish and maintain mutually satisfying relationships with customers. do all of the activities listed. implement actions that provide value to customers.
do all of the activities listed.
The steps of the consumer decision-making process, in order, are: information search, need positioning, evaluation of alternatives, product trial, purchase decision, postpurchase satisfaction need positioning, stimulus response reactions, evaluation of alternatives, purchase decision, postpurchase evaluation need recognition, information search, evaluation of alternatives, purchase, postpurchase behavior need positioning, alternative aggregation and divestment, purchase decision, postpurchase evaluation need recognition, alternative aggregation, reevaluation, purchase decision, postpurchase behavior
need recognition, information search, evaluation of alternatives, purchase, postpurchase behavior
Although many factors can influence price, the primary determinants are: demand by the consumer and perceived quality. distribution and promotion strategies. stage of the product life cycle and costs to the consumer. costs of manufacturing and distribution. the demand for the good and the cost to the seller.
the demand for the good and the cost to the seller.
Procter & Gamble markets six different brands of laundry detergent, each targeting a different market segment. This is an example of concentrated targeting. True False
False
Services tend to exhibit more search qualities than do tangible goods. True False
False
Which of the following is NOT one of the four unique elements to services? Heterogeneity Incoherency Perishability Inseparability Intangibility
Incoherency
Which type of consumer sales promotion rewards loyal consumers for making multiple purchases of a particular good or service? An 80/20 program A frequent buyer program A premium program A continuity program A net worth program
A frequent buyer program
Angela and Dominic own Cincy by the Slice pizzeria. They are interested in keeping track of the number of mentions their store receives on sites like Twitter and Facebook, but they are unsure of which steps to take next. Which of the following resources would best meet their needs? An advanced customer database with predictive application A listening platform with key word report capabilities A social customer relationship management system Web analytics software An insight platform that offers online focus group solutions
A listening platform with key word report capabilities
All households within a 50-mile radius of the store location Accessibility Sustainability Responsiveness Identifiability and Measurability
Accessibility Sustainability Responsiveness Identifiability and Measurability
A manufacturer of office furnishings is finding it difficult to compete with cheaper imported merchandise. Which of the following is a potential source of new product ideas that would allow it to compete more effectively? Customers who have requested its catalogs The company's employees R&D All of these Its foreign competitors
All of these
During which stage of the process does the marketer lead the preliminary analysis and calculations for demand, cost, sales, and profitability? The building of a prototype Exploring opportunities Establishing the new-product strategy Screening and concept testing Developing a business analysis
Developing a business analysis
Based on the article, As Middle Class Shrinks, P&G Aims High & Low, identify the environmental forces from among the six categories discussed in this unit. Consider the categories that might have the most significant impact (whether positive or negative) on P&G's ability to market and sell its products. Check off your selections and submit to see your results. Choose all that apply. Technological Political/Regulatory Environmental Economic Competitive Social/Cultural/Demographic
Economic Competitive Social/Cultural/Demographic Good choice! The article notes that P&G's marketing efforts have been affected by the impact that "the worst recession in 50 years" had on their traditionally middle class customers. The overall economy, the rise and fall of incomes, and the financial and housing markets are all examples of economic environmental forces. Good choice! Although it may not be as obvious, there are often social and cultural forces that are interrelated with economic forces and the impact they can cause on customers. As customers begin to worry about their financial status, often regardless of whether their income or purchasing power actually decreases, spending less and saving more can become a social pressure and, over time, a more deeply ingrained cultural value.
Deciding who to target is the first step in market segmentation. True False
False
A swimming pool company Weekly design and printing needs, purchase decisions may be made by a marketing professional High-end design and inexpensive printing needs, purchase decisions made by owner Simple printing needs, purchase decisions made by owner who is price sensitive Large design pieces and expensive printing needs, purchase decisions must be approved by manufacturer
High-end design and inexpensive printing needs, purchase decisions made by owner A swimming pool company. They need high-end brochures to sell pool design/installation but they also need inexpensive flyers to promote pool service contracts.
Existing customers who have bought in the last three months Identifiability and Measurability Accessibility Sustainability Responsiveness
Identifiability and Measurability Accessibility Sustainability Responsiveness
Existing customers who have visited the store in the last six months Identifiability and Measurability Sustainability Responsiveness Accessibility
Identifiability and Measurability Sustainability Responsiveness Accessibility
High school graduates headed for college Identifiability and Measurability Responsiveness Accessibility Sustainability
Identifiability and Measurability Accessibility Sustainability
Take a look at the shoes you own. Go on! What do you notice? You may have a closetful or you may only have a few. But the selection of shoes available to you is very diverse. As markets become mature, they get further subdivided with products tailored to smaller and smaller segments. The footwear market is no exception. Athletic shoes are a great example of the range of product choices available to customers. Early on, the athletic footwear industry was limited to specific fields such as track or basketball shoes, but over time the market has transformed to cater to specific niches. Now let's look at an example using RunnerZ An up and coming company, RunnerZ, has identified some underserved market niches for which it would like to develop new running shoes: Runners recovering from an injury Runners wanting to experiment with "barefoot" running Runners competing in the "mudder" type races that involve obstacles and messy conditions How would you think about the marketing mix for each of these segments? Athletic shoe Select a configuration, distribution, and price point for each segment. Runners recovering from an injury: Product Configuration Minimal structure More structured shoes with endorsement and sales More aggressive ankle protection and tread pattern, waterproof
More structured shoes with endorsement and sales
Some customer segments are interested in spending more money on new products in the personal care category Neither Opportunity Both Threat
Opportunity Some customer segments are interested in spending more money on new products in the personal care category - [Opportunity] The article describes how, in response to customers moving to the high-end of the market (in contrast to customers who have moved to the low-end), P&G was able to introduce a $60 skin-care regimen. This product was a marketing tactic developed in response to the opportunity created by some customers interested in spending more on personal care products.
_____ is a strategy that focuses on keeping and improving relationships with current customers. Commitment selling Market engineering Relationship marketing Organization-customer synergy Transactional marketing
Relationship marketing
A regional utility company needs to change consumers' perceptions of its current service as being harmful to the environment. Which of the following strategies would best allow the company to accomplish this goal? Adding new services to its product line Use of product cannibalization Repositioning Contraction of the number of services offered by the utility company Disintermediation
Repositioning
Company profile: "Our products are sold in more than 35 markets around the world and our global independent sales force exceeds 2 million." Sales-oriented Market-oriented Product-oriented Societal
Sales-oriented
Company website: "Confidence isn't just a word to us. Strengthening your confidence so you can achieve your goals is our first priority, and the reason millions of consultants have achieved success on their own terms." Sales-oriented Market-oriented Product-oriented Societal
Sales-oriented
______ 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. Decreasing the distance between producers and customers Overcoming quantity discrepancies Addressing assortment issues Overcoming temporal discrepancies Specialization or Division of labor
Specialization or Division of labor
Women who shop at the Gap Responsiveness Sustainability Identifiability and Measurability Accessibility
Sustainability Identifiability and Measurability Accessibility
Which of the following statements best describes the typical target market? Target markets are not strongly affected by changes in the external environment. Target markets cannot be specifically defined according to age, income, or location, because these factors are continually changing. A target market will remain stable over time, including the same group of consumers. Target markets change over time as consumers drop in or out of the market, and as tastes change. Target markets only change when the features and benefits of the product offering change.
Target markets change over time as consumers drop in or out of the market, and as tastes change. Target markets are defined and described, but they are always changing in response to the environment.
_____ 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 A secondary data use plan The sampling plan An autonomous director The research collaborative plan
The research design
Willingness to pay is a way to measure demand elasticity. True False
True
Marketers need a thorough understanding of the laws established by the federal government, state governments, and regulatory agencies. True False
True The laws established by regulatory agencies is a force that is external to the company and not under their direct control and, yet, laws can have an enormous impact on the ability of a company to produce, distribute, communicate, and price their products and services in the marketplace.
______ is a clash of goals and/or methods that occurs between different levels in a marketing channel, most typically between the manufacturer and wholesaler or between the manufacturer and retailer. Channel partnering Vertical conflict Horizontal conflict Arms-length relationship Channel power
Vertical conflict
A specialty retailer of imported furniture Weekly design and printing needs, purchase decisions may be made by a marketing professional High-end design and inexpensive printing needs, purchase decisions made by owner Simple printing needs, purchase decisions made by owner who is price sensitive Large design pieces and expensive printing needs, purchase decisions must be approved by manufacturer
Weekly design and printing needs, purchase decisions may be made by a marketing professional A specialty retailer of imported furniture. Needs to design and print new sales flyers in bulk every week.
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? How large should the sample be in terms of its measurement costs? Who can perform the actual sampling? What is the population or universe of interest? How often should the sample be redesigned? Must the sample be representative of the population?
What is the population or universe of interest?
Which of the following statements about yield management systems (YMS) is true? The first use of YMS was in the U.S. car industry as it looked for ways to compete with imports. YMS eliminate the problem of simultaneous production and consumption from services. YMS are complex pricing systems used to set equilibrium pricing points. YMS cannot be used by any other businesses but services. YMS are mathematically complex systems to make use of underutilized capacity and reduce the cost of perishability.
YMS are mathematically complex systems to make use of underutilized capacity and reduce the cost of perishability.
Arizona Tea is 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: supply-demand curves. reengineering. a heterogeneous marketing strategy. a product differentiation competitive advantage. a cost competitive advantage.
a product differentiation competitive advantage.
Tortilla chips are most likely _____ products, since they are purchased with little shopping effort. specialty generic convenience branded shopping unbranded shopping
convenience
Walmart realizes a _____ using its relationships with suppliers to give customers low prices and good customer service. niche competitive advantage marketing competitive advantage synergistic competitive advantage brand name strategy cost competitive advantage
cost competitive advantage
All of the following are benefits of supply (value) chain management EXCEPT: increases flexibility of supply chain activities. reduces supply chain costs. key means of differentiation for a firm. improves customer service. decreases cash flow.
decreases cash flow.
The first step in the marketing research process is to: collect the data. specify the sampling plan. plan the research design. analyze the marketplace. identify and formulate the problem/opportunity to be studied.
identify and formulate the problem/opportunity to be studied.
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: decliners. generics. late majority. laggards. luddites.
laggards.
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. strategic contingency. hierarchical restructuring. reengineering. financial analysis.
marketing plan.
Innovyx is an email marketing service provider. It has a new ad campaign aimed at changing negative perceptions of email. The ads explain how much cheaper email advertising is than traditional advertising and what a high return on investment it can generate if used properly. Finally, the message ends by suggesting that companies wanting to promote their products give email a chance to show what it can do. This promotion has the task of: informing. suppressing. reminding. persuading. rewarding.
persuading.
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: marketing mix. product line. mix consistency. product mix. product equity.
product line.
Post Properties is a company that manages apartments in various communities. It is concerned with a glut of apartments in Atlanta, Orlando, and Dallas. Its market researcher begins by examining the rental markets in the Southeast, the history of apartment buildings, local economies, competitive rents, and ownership—all information that was on hand and did not require any new research to locate. The market researcher looked at: a statistical analysis. primary data. priority databases. a closed study. secondary data.
secondary data.
Imagine that you are planning a fund raising party for after the symphony, and you need a life-size grand piano cake. Or, you are a developer proposing a new shopping center to a group of investors, and you want to serve a cake shaped like an architectural rendition of the center. Is this impossible? No, you just need to contact Cecilia Villaveces Cakes. She actually built a life-size grand piano for a gala in Macon, Georgia. You can expect to pay anywhere from $75 to $10,000 for one of Cecilia's artistic creations, depending on complexity of design and size. She uses only the best ingredients, and no two cakes are ever quite alike. Although many factors determine the prices charged by Cecilia Villaveces Cakes, the two primary determinants are: the demand for the good and the cost to the seller. distribution and promotion strategies used by the cake maker. demand by the consumer and perceived quality. costs of manufacturing and distribution costs. stage of the product life cycle and costs to the consumers.
the demand for the good and the cost to the seller.
With value-based pricing: consumers are more concerned about price than quality. additional long-term costs to manufacturers will increase. the firm is sales driven. the firm is both customer driven and competitor driven. increased profitability for wholesalers will increase the number of services they are willing to perform.
the firm is both customer driven and competitor driven.
Coca-Cola vending machines are found all over the world. The newest machines have an interactive screen that runs advertisements and allows users to obtain free photos of themselves and ringtones after they have bought a drink. Critics of these new vending machines are concerned that entertaining technology is being used to market sugary products. In terms of a SWOT analysis, this concern would be an example of a(n): threat. opportunity. strength. weakness. advantage.
threat.
All of the following are logistics components of the supply chain EXCEPT: inventory control. production scheduling. order processing. trade promotions. warehousing and materials-handling.
trade promotions.
The three basic functions channel intermediaries perform are: promoting, distributing, and bulk-breaking. transactional, logistical, and facilitating. financing, mediating, and storing. assorting, accumulating, and allocating. contacting, negotiating, and ownership.
transactional, logistical, and facilitating.
M&M's famous slogan, "Melts in your mouth, not in your hand," is an example of a(n): basis for comparative advertising. basis for lifestyle strategy. advertising objective. promotional mix. unique selling proposition.
unique selling proposition.
