MKTG 3650 Exam 2 Pt 2 The Skinny
Subsequent to the outbreak of mad cow disease in the US a few years ago, South Korea and other countries prohibited the importation of US-produced beef for a period of time. This was an example of a(n) _______.
Embargo.
___________ are a complete ban on certain products imported from foreign countries into domestic markets.
Embargos.
____________ are products which consumers use up and must restock quickly. Alternatively, a unique need might arise that requires immediate satisfaction, such as an umbrella on a rainy day.
Emergency
T/F: Invention is best defined as new things that are also useful things, because they solve new or old problems in new ways.
False
The order in which marketers develop and execute the four essential steps involved in creating an effective advertising message is not important.
False
The reason why the best ideas for new products are rarely developed in isolation relates to the value and necessity of:
Intersections
the highest level of competition prevail inside markets..
Maturity
____________ occurs when products are not sold from fixed retail facilities and consist of four basic types: direct selling, telemarketing, direct marketing, and vending.
Non-store retailing
Creative professionals usually excel at which desirable trait?
Problem-solving skills
Associative barriers are not always bad.
TRUE
The presence of a known brand on a product helps the consumer in a number of ways, including providing immediate knowledge of the price charged for the brand.
false
The product life cycle (PLC) concept applies only to brands, as opposed to the entire product category in which brands complete against other similar brands
false
societal critics have often rightfully accused..
false needs, materialism
.... is a marketing term that describes organizations or individuals that recognize..
fast followers
Which of the following is not mentioned in this module as a factor that contributes materially to successful NPD efforts?
financial budgeting
which of the following alternatives is not mentioned in the skinny
financial budgeting
According to Module 9, ____________________ are most likely to create success and wealth.
great ideas
what is the primary benefit that firms acquire
greater control
According to current current research and what is reported in this module, which is the following is not one of the factors that contributes the most to professional success?
hard work
the most creative business and market professionals often..
so what, why not
the supply chain norm called... is embodied in the sense
solidarity
supply change relationships that successfully bind together marketing
solidarity, reciprocy
what value that supply chains routinely provide
specializaion
When expanding the firm's product mix by adding new product lines the least risky approach is to ensure that these new lines are ___________ existing lines in the mix.
Consistent with
Which type of criticism encourages people to fully engage in their work, leading to better ideas.
Constructive criticism
What is the most common type of innovation?
Continuous
In-store stimuli such as end-of-aisle displays, shelf coupons, or free samples are often enough to stimulate purchases of ____________ goods.
Convenience
Products purchased as 'routine decisions' are generally:
Convenience
The sort of consumer goods that individuals purchase without much effort and that are highly available (widely distributed throughout the marketplace) called a ...
Convenience good
The 'staple good' is most closely associated with the _____________ category of products.
Convenience goods
According to CEOs, the most important characteristic to be successful in the contemporary professional workplace is............
Creativity
Farmer Brothers distributes its coffee to restaurants, delis, vending operators, and coffee services through a variety of channels to reach essentially the same customers. Farmer Brothers is engaging in the practice commonly referred to as:
Dual distribution
Samsung sells its smart phones via display centers located in Best Buy, through wireless carriers such as Verizon, and directly to buyers via its website. Samsung is employing ___________ .
Dual distribution
___________ includes using the Internet and mobile devices to communicate with and make sales to customers, as well using electronic media to transfer money and make financial banking transactions.
E-commerce
The presence of boredom facilitates greater creativity inside people's lives. The problem, however, is that too few people let themselves become bored anymore.
Each statement is correct.
_________________________ exist(s) whenever and wherever questions or doubts arise about the right or wrong choice to make in a particular situation.
Ethical dilemmas
Firms that have well-known brands that are highly differentiated have little ability to charge higher prices than those charged by competitors.
False
In contemporary US markets, quality and it alone is usually enough to win marketing competitions.
False
Marketing organizations generally pay high premiums (prices) for public relations press releases.
False
As compared to marketing penetration prices, marketing skimming prices are:
Higher
In the absence of other information customers perceive ______________ products as ______________ products.
Higher-priced; better-quality
Toys "R" Us employed its purchasing power with toy producers Mattel and Hasbro to coerce them into not selling to competing retailers such as Costco and Sam's Club. Toys "R" Us actions resulted in ___________ .
Horizontal channel conflict.
Retailers work hard to design in-store sensory environments that postively affect one or more of consumers' five senses in order to increase the likelihood of a positive emotional experience. These retailers are focusing on creating positive __________.
Internal atmospherics
To become and remain more creative, marketing professionals should establish more __________ in their thought-life. Which is the best fill-in-the-blank answer?
Intersections
Managing the flow of parts and other factors of production into the manufacturing process has been traditionally called ___________ by logisticians.
Materials Management
The classification system for in-store retailers employed in the text is based on the ______________ of the retailer
Merchandise mix
___________________ activities include the management of in-store display techniques, shelf-talking, spot demonstrations, personal selling in general, and other point-of-sale methods.
Merchandising
The key principles of effective marketing communications include:
Message must be received and understood by the receiver Marketer should emphasize FAB Identify the features, attributes, and benefits that are meaningfully different Communicate the differentiating features, attributes, and benefits All of the above.
Tara Foods of Georgia produces a wide range of peanut butters and food extracts, but does not sell any of its output under its own brand name.Tara evidently produces __________ .
Middlemen's brands
The processes known as ______________ and ______________ have a reciprocal relationship; meaning that the development of the one (factor) drives the emergence of the other (factor).
NPD; creative destruction (correct)
Convience stores, barber shops, hair stylists, manicurists, delis, and other small specialy stores tend to located their facilities in ________________ in order to target consumers living nearby, attracting consumers who are primarily interested in a combination of convenience and lower prices.
Neighborhood centers
Is planned obsolescence illegal and/or unethical?
Neither illegal nor unethical
Based on presumed characteristics that should be associated with a good brand name, is "Duncan Hines" a good name for cake mixes? (Assume that you have never heard of the "Duncan Hines" brand before.)
No, because the name suggests nothing about the product.
Consider the following statement: "If the net profit margin on each sales dollar earned is 5%, a supply chain operational savings of $5,000 yields the same return to the Firm's bottom line as would a sales increase of $100,000." This statement reflects: Consider the following statement: "If the net profit margin on each sales dollar earned is 5%, a supply chain operational savings of $5,000 yields the same return to the Firm's bottom line as would a sales increase of $100,000." This statement reflects:
Profit leveragin of costs
Product ____________ is directly proportional to product ________________.
Quality, efficiency
Product ____________ is directly proportional to product ________________.
Quality; efficiency
"Consistent delivery" for differentiating the services offered by a firm involves:
Recruiting and training capable, expert service providers. Training and maintenance programs that ensure its equipment and personnel consistently deliver a higher-quality service than its competitors Quality control programs to ensure high quality and consistent service delivery All of the above.
Which of the following is not a response by supermarkets to improve their profit margins?
Reduced reliance on technology to cut costs
Which of the following is not a response by supermarkets to improve their profit margins?
Reduced reliance on vendor assistance to help manage inventory and restock sh
__________ entail the performance of specialized activities by individuals or organizations for purposes of benefiting other entities (usually customers).
Services
A full-service wholesaler in Dallas takes title to the products it stocks and sells i.e. a complete line of home repair products for small, independently owned hardware stores. This wholesaler is a:
Specialty (limited line) wholesaler
Candice insists on buying only Revlon cosmetics. Rather than purchasing other brands when Revlon is not available, Candice will postpone her purchase or drive substantial distances to find her preferred brand. To Candice, Revlon is what marketers refer to as a
Specialty good or product
Which global marketing strategy yields the longest production runs, lowest costs, and reinforces the "universality" of a brand's global image?
Straight extension strategy
Blending-inside NPD settings-involves mixing solutions from previously related or unrelated sources together in new ways.
TRUE
Invention-the word refers to a dimension of uniqueness-newness related to the form, formulation, or function of something.
TRUE
In which pricing strategy should price levels be established before the entire marketing mix program is developed.
Value-based pricing
The tactics that Uber (the transportation service) uses to price its passenger transportation services offers a good example of:
Value-based pricing
___________ include all activities involved in the marketing and distribution of goods and services from one business to other businesses.
Wholesaling
....are usually purchased more frequently than other categories
convenience goods
the phrase..... describes the truest, most ..
core bennefits
Most products feature three levels. The "level of product" that most closely captures the basic benefits provided by the product is called the:
core products
Which of the following firms (and brands) is not an example of a pyramid scheme?
costco
which sales promotion tool was first used
coupons
Most individual professional marketers should strive to earn a reputation for being:
creative
entails what happens as long standing
creative destruction
According to CEOs, the most important characteristic that professional hires must possess in order to be successful in the contemporary workplace is...
creativity
The act of ______________ entails the ability to produce intangible or tangible things that are novel or original and useful or adaptive.
creativity
_____________ entails experiencing the same stimuli as everyone else but being willing and able to develop something new that others do not consider.
creativity
Assume Kellogg is planning to produce and market a line of DVDs. It would be best for Kellogg to employ its family brand to take advantage of consumers' familiarity with its products and reputation.
false
Cannibalization of sales is most likely to be greater with the brand extension strategy. --TrueFalse
false
From a consumer's point of view, a major benefit of branding (i.e. the fact that products carry identifiable brands) is that it increases price competition for products.
false
Invention is best defined as new things that are also useful things, because the new things solve new or old problems in new ways
false
Invention is best defined as new things that are also useful things, because the new things solve new or old problems in new ways --TrueFalse
false
Jill is a very deliberate buyer. She is very risk averse and is always careful to ensure that she makes the best decision possible for her precious dollars. Jill prefers to buy known brands because it makes it easier to compare prices.
false
Major pharmaceutical companies almost always only use "push" promotional strategies.
false
Most B2B marketers should never use both push and pull marketing promotion strategies at the same time.
false
Most marketing professionals rarely confront ethical dilemmas
false
The metric known as "frequency," when used in an advertising context, measures "how many" consumers within targeted segments are exposed to a message during a specified time frame.
false
most marketing professionals rarely confront
false
Cappio was the first canned ready-to-drink coffee on the market. It had to create the demand for the product category. As soon as demand for the product was shown to exist, Coke and Pepsi began promoting their own brands of canned, ready-to-drink coffee. During which stage of the product life cycle would you expect to see competitors like Coke and Pepsi entering the market for this product?
growth
The most fundamental source from which successful new products can be developed is: The most fundamental source from which successful new products can be developed is:
ideas
Which of the following is not among the top five corporate donors to charitable causes?
roche
in which type of market is brand loyalty influenced more by customers
service markets
Intangible products are also known as:
services
How many of the "Top Ten Traits" desired by C-level executives for new hires relate directly or indirectly to creativity?
seven
_______ generally include clothing, jewelry, automobiles, electronics, homes, major appliances, small appliances, recreational equipment, and gifts.
shopping
_____________ are those for which consumers compare alternative brands against one another or compare the same brands across multiple retail settings prior to making a purchase decision.
shopping
The Toyota brand of automobiles is a good example of:
shopping goods
When consumers are deliberating whether to purchase ---------- they expend considerable effort in an attempt to make the best possible choice. Substantial brand versus brand comparison is likely.
shopping goods
Which of the following social media platforms facilitates the lowest viral-ability?
snapchat
An inverse relationship exists between advertising expenditures and overall consumer satisfaction inside the US.
true
Blending-inside NPD settings-involves mixing solutions from previously related or unrelated sources together in new ways.
true
Brand equity and brand loyalty, when present, generally allow marketers to raise prices without losing much if any market share.
true
Brands capture the meanings, images, sensations and experiences that people associate with a person, place or idea.
true
Brands, regardless of their dominant form (colors, designs, signs, names), exist as symbols.
true
Marketers usually should only introduce new products that are as simple as possible for purchasers to use
true
Positive brand equity allows firms to launch new products more easily.
true
The brand names Acura, Quick Metal, Duracell, and Compaq were developed by a technique with which words and part-words (called morphemes) were combined and tested to create the names.
true
The credit card industry is generally regarded as the first industry to extensively employ the co-branding strategy.
true
the success of B2B marketing efforts..
true
when communicating with customers, marketers usually should emphasize
valuable for most of their customers
Machines that dispense products, video game machines, and bank ATMs all illustrate which form of retailing?
vending
the activity called.... occurs when professional or organizatinal brands strategically
virtue- signaling
In certain newly developed clothing items featuring spandex, spandex itself solves the same customer problems that --------- used to solve. This, according to your book.
whalebones
The marketing concept only addresses customers' needs.
false
A polymath is a person who is good at:
many things
An individual's possession of certain competencies and skill sets will promote that person's creativity. Which of the following statements does not fit (belong) among those competencies?
***The preceding answers all fit, they each belong, among the necessary set of creative competencies. Capturing for yourself Challenging yourself Broadening yourself Surrounding yourself
With respect to email advertising, which of the following is NOT true?
Emails sent to large numbers of consumers without their permission is an acceptable form of advertising.
____________ include such forms as customs barriers, quotas on the amount of product that can be imported, export subsidies, or unnecessarily restrictive standards for imported goods.
Administrative tariffs
The average age of an automobile on American streets and roads has risen to __________ years, indicating the extent which overall domestic quality has risen.
11.8
When did Twitter introduce the retweet button?
2009
when designing any sort of product or message which total number of attributes
3
Which of the following channels for consumer goods is Avon using when it sells its products at the avon.com website?
A direct channel to consumers
In a corporate vertical marketing system,
A firm at one level of the channel owns the firms at the next level or owns the entire channel.
Which of the following retailers is most likely to be a member of a retailer cooperative?
A hardware store
Wal-Mart, because of its sheer size and market position is able to coordinate distribution activities through its market power. This is an example of the ______________ type of VMS
Administered
Channel captains are associated with which type of channel structure?
Administered VMS
General Mills, with its lines of cereal, snack foods, and baking products has substantial market position and brand equity making it possible to coordinate channel activities via is market power. This form of distribution illustrates a(n):
Administered VMS.
Innovation is a word describing
A process and/or thing that is new and useful
Innovation is a word describing:
A process and/or thing that is new and useful
Innovation is a word describing:
A process and/or thing that is new and useful (correct)
Alka-Seltzer recently brought back the animated character Speedy Alka-Seltzer as its spokesperson. "Speedy" best illustrates which of the following for the Alka-Seltzer brand?
A trade character
Lois Lane wants to open a convenience store in Cripple Creek Colorado. What kind of wholesaler will likely provide her chewing gum, tobacco products, candy bars, and other snack foods
A truck jobber
Which of the following is the key characteristic of IMC?
A unified message is delivered to all stakeholders. Two-way communications are employed to solidify relationships with stakeholders All elements of the communications program are fully coordinated Marketing research is employed to understand the needs of stakeholders. All of the above are important.
Which of the following manufacturers would be most likely to use a manufacturers' agent to distribute its product?
A well-established Southern firm that wants to expand its market area by making its products available for the first time in Washington state and Oregon
In what ways does successful NPD benefit society?
A+B
The "making bulk" channel function is formally called:
Accumulating
The features, design, quality level, brand and packaging of branded products as well as their shapes and colors describes:
Actual products
Advertising often can reach large numbers of targeted customers quickly, but drawbacks exist. Which of the following represents a limitation associated with advertising?
Advertising primarily delivers one-way, impersonal messages.Consumers often fail to pay attention to advertising messages.
The traditional elements of the promotion mix are: The traditional elements of the promotion mix are:
Advertising, personal selling, sales promotion, direct marketing, publicity
When producers of beer brands, such as Coors Light, Bud Light, and Miller Lite depict their brands being consumed in festive party settings they are attempting to structure or manage the ________ level of brand.
Affective
Using ___________ the communications budget is essentially equal to any money left over after all other expenditures have been met.
All-You-Can-Afford.
The method of advertising budgeting in which the budget is set based the ability of the budget to achieve specific adverting objectives is the ____________
All-you-can afford method
Procter & Gamble sells in large quantities to Core-Mark, a large grocery wholesaler that supplies a large number of independent and chain grocers. Core-Mark then resells in smaller quantities to its retail grocery customers. Core-Mark is performing which channel function?
Allocating
The warranty associated with automotive purchases illustrates:
An intangible dimension of a tangible product.
Among other things, innovation most prominently refers to:
An overall process whereby inventions are transformed into commercialized products that can be sold profitably
---------- practices arise whenever marketers from two or more competing organizations knowingly engage in strategic activities aimed at reducing competition.
Anti-competitive
What is a product?
Anything that can be offered to individuals, segments, or entire markets that benefits (profits) an organization. Anything that might satisfy individuals', segments' or entire markets' wants and needs Anything that solves problems for individuals, segments or entire markets
Which of the following is least characteristic of installations?
Are 'used up' in daily operations.
Which of the following is not a key question a firm must address when deciding whether it should "go global?"
Are the firm's domestic sales sufficient to finance a move to global markets?
The internal and external physical characteristics of stores that shape the retail store's image are referred to as:
Atmospherics
The presence of ________________ hinder marketing professionals from thinking more creatively and hold them back from making innovative connections.
Associative barriers
One of the primary keys to wholesaling and retailing success is matching the variety of products sold to the wants and needs of customers. This process is the ____________ channel function.
Assorting
Avoiding marketing research problems, design problems, or NPD procedural and process problems each represent activities that marketers should participate in in order to:
Avoid failure
What's the name of what probably was the world's first viral-lized digital video?
Badday.mpg
A product's core benefits and physical characteristics comprise the ______________ level of product.
Basic
Constructive criticism leads to more and better new ideas. What is the best reason why this is true?
Because constructive criticism encourages us to more fully reengage with our work
Which of the following is not an NPD activity
Benching
The activity called _________ involves taking something and altering a property, aspect, or dimension of the original element or object.
Bending
Which NPD activity involves taking something and altering a property, aspect, or dimension of the original element or object?
Bending
IMC is important to contemporary marketers because use of the technique allows them to:
Break through the clutter and noise that characterize modern markets. Provide single, crisp and unified communication packages.
The act(s) of ________________ involves taking the pieces of a something and reengineering them into something new and useful.
Breaking (correct)
The act of _____________ involves exposing oneself to more intersections or intersectional thinking.
Broadening
The NPD strategy that entails outright acquisition of entire companies or licenses to produce another organization's products is called a(n):
Buy NPD strategy
Which of the following is not a potential reason why firms should consider engaging in global marketing?
By going global firms can avoid the risks associated with fluctuating exchange rates
Government agencies allow consumers to initiate transactions with government agencies, such as when they pay their taxes, pay traffic fines, or renew automobile registrations via the Internet. The online marketing domain involved is ____________ .
C2G
Which of the following is a key question a firm must address when deciding whether it should "go global?"
Can the firm adapt is business model to accommodate differences in global cultures and supply chain structure? Can the firm identify, understand, and effectively respond to differences in consumer preferences and buying behaviors in global markets? Does the firm have the relevant expertise and experience to target global markets? Is the firm capable of managing and responding to the varying legal requirements in global markets? All of the above must be addressed.
Which descriptive word should marketers rarely if ever use when seeking to position and/or differentiate their brands?
Cheap
Most people will cheat when two preconditions are present. These preconditions are when:
Cheaters perceive the rewards are sufficiently high, and cheaters believe they can get away with the cheating.
Which of the following countries is responsible for producing the majority (86%) of counterfeit brands flooding international markets?
China
The term ______________________ captures the practical marketing mix activities that must be performed in order to actually bring a new product to its targeted market segments. The term ______________________ captures the practical marketing mix activities that must be performed in order to actually bring a new product to its targeted market segments.
Commercialization
America's largest ___________ is the Mall of America, located outside of Minneapolis. The mall contains over 800 stores, including 100 restaurants and nightclubs. The mall also hosts a theme park, hotels, miniature golf courses, and water slides
Community center
Advertising in which a firm's brand is directly compared against those of competitors is called:
Competitive advertising
With _________ IMC budgeting, the size of the promotion budget is based on industry comparisons.
Competitive parity
Which test seeks to determine whether eventual new product users will either want or need the proposed product?
Concept test
Which three types of tests are most integral (important) to most B2C NPD efforts?
Concept test, product use test, and market test
Two-sided ads present both the positives and negatives for brand and then usually attempt to refute the negatives. The effectiveness of such as is explained by
Consumer tendencies to counter-argue with the positive points may be diffused due perceived increased credibility of the ad
The goal of __________ is to improve the rights and power of buyers in relation to the rights and power of the sellers (marketers).
Consumerism
________ is a form of sales promotion in which consumers (usually) submit an entry that entitles them to take part in and potentially win one or more prizes.
Contests
__________ are forms of sales promotion in which consumers or company employees compete with one another to win monetary or non-monetary prizes.
Contests
A smartphone marketer company has developed a new smartphone for entry into its smartphone product line category. The new smartphone features superior voice recognition capability in comparison to previous versions. What kind of innovation is happening?
Continuous
Most innovations are ____in nature.
Continuous (correct)
The Beatles' 1967 album Sgt. Pepper, is a good example of:
Continuous innovation
When Sears decided to enter Mexico with its retail facilities it engaged in contractual agreements with qualified local manufacturers to produce products that Sears was merchandising and selling in its new Mexican retailing facilities. This is an example of __________ for entering a foreign market.
Contract manufacturing
When Sears decided to enter Mexico with its retail facilities. Its strategy was to engage in contractual agreements with qualified local manufacturers to produce products that Sears was merchandising and selling in its new Mexican retailing facilities. Sears ultimately desired to buy out these producers and take over their operations. This is an example of __________ for entering a foreign market.
Contract manufacturing
Polo (Ralph Lauren) not only manufactures clothing but also operates its own retail stores (factory outlets). Polo is an example of a(n):
Contractual VMS.
Which answer best describes the most important difference that separates continuous innovations from discontinuous innovations.
Customer learning is required (correct)
The satisfaction of ________________ typically is emphasized during B2B marketing efforts. By contrast, the satisfaction of _________________ typically is emphasized during B2C marketing efforts.
Customer needs, customer wants
The key "public" that is targeted by a firm's PR efforts is _____
Customers of the firm The firm's competitors The general public Legislators and politicians All of the above.
________ products are the most difficult to market.
Deficit
Bounty paper towels employ _____________ in which the brand is presented in a way that emphasizes its absorbency and strength
Demonstration advertising
Laundry detergent stories that illustrate how their brands clean clothes whiter and brighter are a good example of:
Demonstration-based portrayals and story appeals
The __________________ philosophy of ethics suggests ethical rules should be established and that moral guidelines should then be followed.
Deontological
Determinant differences are (best answer please):
Different AND important to customers
Bell and Howell advertises its high intensity flashlights regularly on TV and encourages consumers to place orders via the telephone, paying with their credit cards. Bell and Howell is employing ________ .
Direct response advertising
Time-Life regularly airs TV commercials promoting books, DVDs, and CDs. Consumers are shown 1-800 numbers and encouraged to use credit cards to make purchases. Time-Life is employing ___________.
Direct response advertising
Which type of innovation is most disruptive?
Discontinuous
Steve Johnson sells fiberglass resins and fiberglass fabrics to the many small sailboat manufacturers in Florida. He takes title to the products but does not handle them. Instead, the materials are shipped directly from the producer to the sailboat manufacturers. Steve is a
Drop shipper
________ are wholesaling middleman that buy and sell bulky commodities, such as coal and building materials. These products are very expensive to handle and ship, relative to their unit value. These wholesaling middlemen never physically handle the products they buy from their suppliers. The products are shipped directly from the supplier to the middlemens' buyers.
Drop shippers
Buck Rogers sells fiberglass resins and fiberglass wire to the many small sailboat manufacturers in southern California. He takes title to the products but does not handle them. Instead, the resins are shipped in 50 gallon barrels directly from the producer to the sailboat manufacturers. Cole is a:
Drop-shipper
McDonald's product menu and its promotions vary greatly across the different countries in which it operates. The firm sensibly focuses substantial marketing mix attention on delivering products and messages that are popular and culturally acceptable across various nations and regions. McDonald's is using a(n) ______.
Dual customization strategy
_________ entails selling a product in a foreign market at prices substantially lower than it is priced in the domestic home market.
Dumping
When BMW airs advertising that emphasizes the performance, driving enjoyment, and style of its M4 they are employing _____________ .
Emotional appeals
____________ are employed in advertising to create a positive mood or image surrounding the product and its use. Usually there is no attempt to link the brand to any specific benefits or features.
Emotional appeals
____________ attempt to elicit affective or emotional responses from target audiences using humor, fear, and sex.
Emotional appeals
All of the following are important components of IMC except ___________.
Emphasis is placed on using cutting-edge digital media.
A small manufacturer of custom cabinets wants to expand sales but does not wish to get involved directly with selling or any other marketing activities. The manufacturer probably will opt to employ which form of channel structure for reaching consumers?
Employing an agent to handle sales to other intermediaries
When franchisors demand that their franchisees buy all products from the franchisor in order to assure the quality of franchise's products, they are employing ______________
Exclusive deals
The Olympics Emporium is the only place in Dallas where a collector of Olympic memorabilia can buy a set of eight Olympic coins minted in 24K Gold priced at $15,000. What kind of distribution coverage strategy is being used?
Exclusive.
The _____________exempts most domestic firms from normal and standard antitrust regulations when they are marketing globally.
Export Trading Act
Products such as flour, chemical additives of various types, steel, and aluminum ingots are usually classified as:
Fabricating materials.
T/F: The concept test is conducted to determine whether the proposed product that would emerge if the idea (the concept) can be successfully commercialized through the firm's current or prospective marketing mix.
False NPD (all innovative processes) begin with an idea, or concept. The concept test is conducted to determine whether intended new product users are likely to either want or need the proposed product.
T/F: Breaking—inside NPD settings—involves taking something and altering a property, aspect, or dimension of the original element or object; as in redesigning.
False entails taking a whole thing apart and reassembling something new from the fragments. Similar to re-engineering
Advertisers attempt to move consumers through a series of steps beginning with becoming aware of a brand and ending with conviction and loyalty to the brand. This set of steps is referred to as _______ .
Hierarchy of Communications Objectives
In the increasingly globalized and technologically-driven markets that predominate today, what type of competitors are able to perform the same job just as well and less expensively than most domestic professionals?
Foreign professionals AI devices Domestic professionals Robotic devices All of the above (correct)
Who suggested that "existence can only be justified on aesthetic grounds"?
Frederic Nietzsche
With respect to assessing advertising effectiveness the number of times consumers comprising a target audience are repeatedly exposed to a given message during a specified period of time is called _______
Frequency
Which of the following positive (desirable) outcomes is least likely to arise when marketers are creative and deliver successful new products?
Fresh and fair feelings
If there is a traditional channel for consumer goods, it is:
From producer to wholesaler to retailer to consumer
Organizations that operate in more than one country and consequently secure marketing, production, NPD, research and development, financial or supply chain advantages that are not available to firms operating in purely domestic markets are engaged in ________.
Global marketing
___________ involves all the processes through which products or services are conceptualized, developed, promoted, priced, and distributed internationally from one nation to another.
Global marketing
Comparative advertising in which competing brands are directly identified in advertising messages is employed beginning in this product life cycle stage.
Growth
During the ____________ stage of the PLC, advertising objectives shift to communicating brand superiority by promoting the brand's differentiating characteristics relative to competing brands.
Growth
Campbell's Soup company recently ran a series of ads on TV in which a variety of new recipes for its soups were featured. This strategy generally is employed for products that are at the ______ stages of the PLC.
Growth & maturity
During which PLC stage are marketing organizations most concerned with gaining and maintaining market share?
Growth stage
Which of the following firms engage extensively in brand licensing?
Harley-Davidson
You are the brand manager for Tide (P&G brand) and are considering ways to revive lagging sales. Recognizing that your brand and the product category as a whole are 'mature,' you are examining several strategic options. Which of the following is least likely to be a viable alternative to accomplish your sales goals?
Harvest the brand.
Coke insists that wait-staff in restaurants selling only Pepsi products ask patrons if "Pepsi will be OK?" when the customer requests a "Coke." This is done primarily to:
Help prevent the 'Coke' brand from being declared 'generic.'
The primary reason why most people will act unethically, will cheat, in certain situations is because:
Humans are instinctively selfish.
___________ are employed to gain attention and, hopefully, create a positive "affective" response to the ad that can rub off on the product. The idea is "like the ad, like the brand."
Humor appeals
_______ involves every department in the firm becoming involved in developing and communicating messages to customers, channel members, other stakeholders, and publics to create a unified image of the organization and its products.
IMC
What factors contribute most to most people's professional success?
IQ Family circumstances into which they born Self-control
The most fundamental source for successful new products is:
Ideas
The most fundamental source from which successful new products can be developed is:
Ideas
Distributors' brands are owned and primarily marketed (promoted) by
Intermediaries (middlemen)
Which of the following is usually not an advertising communication objective?
Increasing consumers' purchase intentions
Most firms begin their global marketing efforts using _____________ . This is the simplest and least risky method for entering foreign markets.
Indirect Exporting
Which of the following is not considered to be joint venturing for penetrating foreign markets?
Indirect exporting
Communications designed to convince consumers that a brand is the best solution to their purchasing problem are called ____________ communications.
Informative
When promoting through any means, one or more of the following communication outcomes is generally desirable:
Informing customers or prospects. Remind customers or prospects. Persuade customers or prospects. Secure attention of customers or prospects.
Firms should never get so focused on ________________ that they forget the fundamentals such as quality, reliability, and promised and delivered performance.
Innovation
The primary tasks of _____________ are to answer customers' questions, take orders, and make suggestive sales.
Inside order takers
The acronym IMC stands for ________.
Integrated Marketing Communication
__________ is [are] a promotional strategy that seeks to unify all marketing communications modes—advertising, personal selling, sales promotion, social media management, public relations—in order to create unifying brand messages and positioning stories and tell them consistently across all communication media (channels) that are used by any marketer to convey its marketing messages.
Integrated Marketing Communications
________ attempts to achieve maximum retail exposure for a product. Every suitable retail outlet is targeted. This type of distribution is best suited to consumer convenience goods and some shopping goods.
Intensive distribution
What type of marketing refers to exchange encounters that occur between service providers and service customers?
Interactive
Which of the following is not a function of public relations?
Introducing new products with limited associated advertising.
Personal selling is employed to reach intermediaries and persuade them to stock and promote the product primarily during the __________ stage of the PLC.
Introduction
Which of the following is not an NPD stage?
Introduction
How might Whirlpool benefit if appliances it manufactured were sold at Sears under the Kenmore brand name?
It would allow Whirlpool to use its production resources more effectively. It would allow Whirlpool to increase plant capacity. It would allow Whirlpool to generate additional sales volume. It would allow Whirlpool to utilize its working capital more effectively. It would allow Whirlpool to do all of the above.
A ____________ for penetrating international markets by US firms occurs when the US-based firm combines forces with a host firm in the foreign market to produce or market products or services in the host country
Joint Venturing
US-based firms can enter into arrangements with foreign firms to create local businesses in foreign markets. Both firms share ownership and control of the venture. This arrangement is termed _______
Joint ownership.
The NPD strategy that entails developing original products, making product improvements, introducing product modifications and/or launching new brands or positioning strategies as a result of the marketers' own internal strategic efforts is called a(n):
Make NPD strategy
When consumers become brand loyal they are:
Less likely to engage in information search.
With ________ domestic firms contractually engage with manufacturers or other firms (including retailers) to produce, deliver, merchandise, retail or sell their products or services in foreign markets.
Licensing
When Excedrin introduced its new Excedrin Migraine into its product line of pain relievers, it was introducing what is called a:
Line extension
"Inventory in motion or at rest throughout the supply chain" is called:
Logistics
Marriott intends to add hotel operations in Belize and Honduras. It would like to partner with local investors who would own the hotels, but rely on Marriott to provide management services. Ultimately, Marriott wants to buy out the foreign investors. Marriott probably should be advised to use which method of entering a foreign market?
Management contracting
Some domestic US firms contract with partner firms in foreign markets for purposes of using the US firm's management expertise to run the partner firm's operations in the foreign markets. This is an example of __________ for entering a foreign market
Management contracting
The Hilton hotel chain recently opened a Doubletree in Dubai, the capital of the United Arab Emirates. Local investors own the facility. Hilton manages the property for these local investors. This is an example of __________ for entering a foreign market.
Management contracting
The management of what key factors is necessary in order to execute NPD successfully?
Managerial execution, strategic planning, and creativity
What marketing tool or marketing concept should drive and inform the marketing activities associated with monitoring the product lifestyle?
Managing the marketing research process
Manufacturers of national brands generally will also produce products under private labels. This is done because:
Manufacturers of national brands often cannot sell all their output under their own brands.
Which of the following is false concerning the importance of global marketing?
Most large international firms are headquartered in the US
Prospect theory uses complicated analytics to explain a simple, nearly-universal principle that governs and motivates human decision-making. The principle suggests that:
Most people hate/fear losing more than they love/crave winning.
The presence of diversity (i.e., disparate points of view and perspective) faciliates creativity because---------- are naturally generated.
Multiple perspectives Intersections
Which advertising budgeting approach is developed based on established goals and analytic outcomes to determine the right amount to spend on advertising?
Objective and task method
____________ are short-lived items that facilitate routine operations. Consequently, they are repurchased frequently. This category of organizational products includes lubricating oils, light bulbs, many small office supply items, and janitorial supplies.
Operating supply
Many if not most consumers take things, even formerly new and exciting things, for granted after a while. This statement is correct/true. Does this fact represent a threat or opportunity to new product developers, or does it represent something else altogether.
Opportunity
Which playwright and poet wrote: "A cynic is someone who knows the price of everything and the value of nothing"?
Oscar Wilde
The best long-term hope for domestic professionals seeking to compete successfully with their foreign competitors entails:
Out-creating them.
Which of the following best describes the primary distinction between component parts and fabricating materials?
Parts undergo little or no additonal processing as they are combined into the larger product. The parts are always uniquely identifiable
____________ has evolved to reduce some of the more egregious aspects of traditional door-to-door selling. With this form of selling, salespeople recruit prospects to host get-togethers at their homes or their places of work.
Party plan selling
A(n) _________________________pricing strategy is best understood as what happens when firms drastically lower their prices for the purpose of grabbing and/or sustaining high market shares
Penetration
The easiest to use and most frequently employed method of advertising budgeting is the ________ .
Percent of sales method
_________ is an oral, personal, and often face-to-face communication between prospective buyers and sellers.
Personal selling
Ethical guidelines are often grounded in ________________ and/or __________________bases.
Philosophical; religious
The 'level of product' that is associated with the product's brand name, features, style, inherent quality and reliability, and functionality is called the:
Physical product
The purpose of ___________ to create awareness and trial for new products that are in the introductory stages of their product life cycles.
Pioneering advertising
_________ is a strategic marketing practice wherein marketers design or market products with artificially limited useful lives so they become prematurely outdated in terms of function or fashion.
Planned obsolescence
____________ are large un-enclosed shopping centers that are normally anchored by large category killers and off-price retailers rather than traditional department stores.
Power centers
What three factors must be executed or developed in order to do NPD successfully?
Planning, execution, and creativity
What three manageable factors must be developed and executed successfully in order to do NPD successfully
Planning, execution, and creativity
The term ________________ describes a person, often a professional, who and is driven by broad interests across many different disciplinary fields.
Polymaths
Which type of consumer goods inverts the economic law that higher product prices almost always reduce demand for those products?
Positional
Mild claims of superiority in advertising are referred to as _________.
Puffery
-------- entails marketers setting higher prices based on the premise that quality-, social status-, or positional-conscious buyers will be attracted to the product, due to its price and the potential buyers' ability to afford it, and thus become more likely to purchase the product.
Prestige pricing
---------- is the amount of value that any customer must give up to get (obtain) a product.
Price
Company X offers the same breakfast cereal product to different segments while charging different prices to different segments. However, it costs the same to sell to each segment. This marketing practice is best understood as:
Price discrimination
____________________________ arises when marketers sell the same product in the same quantities at different prices to different customers or groups of customers.
Price discrimination
___________________________ measures the degree to which changes in prices simulate changes in demand for the brand or product being priced.
Price elasticity
The primary pricing strategy(ies) employed by firms during the introductory stage of the PLC is (are):
Price skimming
What type of competition should marketers usually avoid - because use of the strategy typically leads to negative outcomes for all marketing organizations competing inside a particular market?
Price-based competition
When the first person with COVID-19 passed away in the United States, a couple of people decided to buy all the hand sanitizers they could find all over the State of Tennessee. A few week later, they started selling these products on Amazon and made 300% to 400% profit. This illustrates:
Price-gouging
________________ themselves represent an implicit negotiated buyer-seller agreement on the mutual value of two objects about to be exchanged.
Prices
Quality can be used to differentiate products, although quality is not as effective a differentiator as it once was. But what other desirable values can high quality products produce?
Produce [higher] quantity of sales and loyal customers
Which distribution channel is a small manufacturer of specialty wood gift products sold to gift shops most likely to use? Assume that the manufacturer is not able to afford its own sales force.
Producer to agent to retailer
Which distribution channel is the manufacturer of small fireproof safes for businesses most likely to use?
Producer to industrial distributor to user
In----------• the use of decimals or nines makes the price number seem smaller. The use of this pricing strategy is why about two-thirds of prices still end with a nine. The assumption is that consumers round down nines, making brands appear less
Psychological pricing
A grocery store chain has decided to sell a small assortment of fast moving hardware items. However, it is not certain what stock to carry in which stores and does not want to leave the decision to the local store manager. The chain could use a:
Rack jobber
Which of the following is a strength of radio as an advertising medium?
Radio provides a "captive audience" while listeners are traveling, commuting, or stuck in traffic. Radio advertising is much less expensive than advertising on TV. Messages can be targeted to relatively small, localized markets. All of the above are strengths of radio advertising.
With respect to telemarketing, ____________ is (are) useful for cold-calling on prospects who may have unlisted numbers.
Random digit dialing
When Ford airs advertising that focuses on the functional characteristics of its cars, such as quality, reliability, gas mileage, warranties, and service they are employing ____________ in their ads.
Rational appeals
With respect to assessing advertising effectiveness the number or percentage of consumers in a particular target audience exposed to a specific advertising message in a given period of time is called __________.
Reach
Which are the two most important metrics to evaluate advertising effectiveness?
Reach and frequency
_________ are essentially refunds that amount to price reductions for products already purchased.
Rebates
The Galleria in Dallas is anchored by a Westin Hotel, has an ice-skating rink, offers a fivescreen cinema, and is populated by more than 200 select retail department stores, specialty stores, and restaurants for its patrons to visit. The Galleria is a ____________
Regional center
Which of the following is not true about the use of billboards as an advertising medium?
Relativly short costs
___________ employed to keep the brand in consumers' minds. Letting them know that the brand is available and continues to be a viable choice.
Reminder advertising
Consumers tend to ________________ their own possessions, and ______________ what they might lose.
Resent; focus on
Consumerism:
Seeks to expand the rights and power of consumers.
Using the ____________ the buyer asks for a concession, such as free delivery or additional features as part of the sale.
Sharp angle close
Jill is a very deliberate buyer. She is very risk averse and is always careful to ensure that she makes the best decision possible for her precious dollars. Jill prefers to buy known brands because:
She knows what to expect in terms of quality and performance It saves her time and makes the decision process easier
Which of the following items are not associated with brand names:
Signs Words Colors Shapes
Family and friends typically score high on those factors that contribute to source credibility except
Source expertise
In-store promotional stimuli, such as displays, shelf coupons, and point-of-purchase promotions are least likely to influence consumers' purchases of _____________ goods.
Specialty
____________ goods are distributed on selective or even "exclusive" bases. A limited number of retail outlets, often only one or two, in a geographic area may be employed. Close, cooperative working relationships are developed with retailers in ways that are intended to mutually benefit producers and retailers
Specialty
During which stage of the NPD process should marketers ask and answer what are our primary firm's goals and what are our targeted customer's primary (or only) problem(s)?
Stage 1
With the ____________ close the seller urges the prospect to buy immediately in order to receive, for example, a special price or free gift before some deadline passes.
Standing room only close
Their possession or cultivation of five skillsets and behaviors would almost always make professionals more creative. Choose the one answer among the following skillsets or behaviors that does not belong to this set.
Stimulating
Warehouses run by third party operators provide access to long-term and short-term specialized storage and inventory management facilities. In the context of supply chains, these warehousing firms are called _________
Storage intermediaries
Domino's opened pizza stores throughout Asia during the 1990s using the same positioning strategy employed in domestic US markets. This strategy, however, did not resonate with Asian consumers. In their minds 30-minute delivery promises were not sufficient to offset the pizza's comparative mediocrity. The failure of Domino's in the Asian market illustrates the dangers of using a ____________ for penetrating global markets.
Straight extension strategy
Rolex has used the same simple positioning message of elegance, precision, and durability for decades in all its global markets. It is the world's 72nd most dominant brand. The Rolex global marketing strategy is a(n) ___________.
Straight extension strategy
When firms employ a one-product, one-message marketing mix to tap all foreign markets and this program is basically the same as their domestic marketing program, they are employing as ________.
Straight extension strategy
China sold Chinese-manufactured glass for solar panels in Europe at prices well below local retail prices. China's dumping practice permitted its glass industry to increase its export market share by 500% during a three-year period. This practice probably was made possible by China's use of _______ for this industry.
Subsidies.
The "Concept Test" is most closely affiliated with developing:
Successful new products; it weeds out good ideas from bad.
Counterfeiting technology has made it easier for counterfeiters to make better fake copies of legitimate brands. In fact, Jack Ma (Alibaba founder) has gone on record saying the many counterfeits are made in the same factories using the same materials as authentic brands. Such counterfeits have been called _________ .
Super counterfeits
Albertsons, Kroger's, Safeway, H.E.B., and A&P are nationally located corporate chains of ______________
Supermarkets
_________ are groups of independent firms involved in the process of making products or services available for use or consumption by organizations or consumers.
Supply chains
Nestle seeks to reduce its dependence on fossil fuel by using more renewable energy sources. What sort of ethical decision making framework is Nestle using?
Sustainable ethical decision -making
The symbols the marketers use to differentiate their brands matter greatly because :
Symbols can say in an instant what words cannot.
When marketing new songs, movies, or fashion, the best spot-the sweet spot-for new product developers to target is new stuff that simultaneously feels fresh and familiar.
TRUE (correct)
Creativity never entails creating something from nothing (which is impossible, anyway). Instead, creativity generally entails bending, breaking, or blending. Blending, itself, entails :
Taking previously unrelated or related "somethings" and mixing them together.
Creativity never entails creating something from nothing (which is impossible, anyway). Instead, creativity generally entails bending, breaking, or blending. Blending, itself, entails:
Taking previously unrelated or related "somethings" and mixing them together.
Taxes levied on foreign products that are imported into domestic markets are called ________.
Tariffs
This test determines whether the firm already possesses or could create an effective strategic marketing plan, an effective marketing plan, and the resources necessary to successfully commercialize the new product. Commercialize means actually bringing—introducing—the NP to market.
The market test
Which of the following is not a typical communication outcome?
To create increases in short-term sales
Weight loss products often use _______________ showing real people endorsing a product because they have successfully used the product to lose weight.
Testimonial advertising
The main difference between agent middlemen and merchant wholesalers is
That agent middlemen do not own the products they sell--while merchant wholesalers do.
Which of the following reasons (i.e., factors) is often associated with high rates of new product failure?
That dogs won't eat the dog food.
What product was in all likelihood responsible for fostering diverse discoveries by many different philosophers such as Euclid, Archimedes, Eratosthenes or Galen?
The Alexandria Library
What product was in all likelihood responsible for fostering diverse discoveries by many different philosophers such as Euclid, Archimedes, Eratosthenes or Galen?
The Alexandria library
This test determines whether the firm already possesses or could produce an effective marketing strategy, an effective marketing mix, and the resources necessary to successfully commercialize the new product. Commercialize means actually bringing-introducing-the new product to market.
The market test
Penetration pricing strategies are intended to appeal to what type of market?
The mass market
Cost-plus pricing involves adding standard markups to whatever amounts, cost-wise, are required to make, distribute, and market (i.e., sell, promote, merchandise) products.
True
_______________ can be described as over-and-above the normal and expected services, applications or solutions that might be associated with a product.
The augmented product
When setting prices, the price floor is usually defined by _________ of producing and marketing the product.
The average total costs
The sequence of organizations and individuals through which finished consumers goods move is called
The channel of distribution
The 'core values' component of the basic product is most closely associated with:
The fundamental benefits that the product delivers to buyers.
The classification scheme for consumer products divides consumer goods into three basic categories: convenience, shopping, or specialty, in part based upon:
The level of effort expended during the purchase process.
Ads and packaging for Vaseline always present the brand as Vaseline brand petroleum jelly because
The manufacturer hopes that by linking the brand name with a name for the product category, the Vaseline brand will be protected from becoming generic in use
The breadth or width of a firm's product mix refers to:
The number of product lines carried.
An individual's possession of certain competencies and skill sets will promote that person's creativity. Which of the following statements does not fit (belong) among those competencies?
The preceding answers all fit, they each belong, among the necessary set of creative competencies. (correct)
Beyond the traditional elements, other parts of the promotional mix include product design, prices, features, colors, packaging, or even the retailer brands (high-end or low-end) that primarily market the brands.
The preceding statement is completely true and accurate.
Which answer is not correct: Brands tell customers:
The price of a product
According to leading experts, the second most important innovation in history (the wheel remains most important) is:
The printing press
A mass-marketing (undifferentiated) targeting strategy is more likely to work effectively when:
The product being marketed is in the early stages of its product life cycle. The product being sold is not easily differentiated from other brands of the same product. Little competition exists from other brands. Market segments exist but are too small to effectively target individually. All of the above are true. (correct)
Services are produced and delivered by the service provider—usually at the location where the service is consumed. This reflects which characteristic of services?
Their inseparability
Innovations must deliver practical or perceptual value that benefits someone; in turn that someone must be willing to give up something of value in order to obtain or use the innovation. For new products to be described as innovations they also must be useful. There are more inventions than innovations.
These statements are all true.
Which of the following is not an attribute of creative professionals?
They are typically young
Which of the following factors usually distinguish creative professionals from other, less creative professionals?
They establish associations and connections between existing and new ideas.
What do cosmetics marketers market?
They market cosmetics through beauty
Why is it useful to read both the Wall Street Journal and the New York Times?
To integrate multiple perspectives
That aspect of a 'product' that is most responsible for creating 'brand image' is
Total product
The level of product that is most closely associated with brand image is:
Total product
The __________ of 1988 provided more specific descriptions of the sort of practices that were prohibited under the Foreign Corrupt Practices Act.
Trade Act
The term _______________ describes price reductions given to buyers in exchange for turning-in old products as newer versions of the same product is purchased.
Trade-in allowances
The physical movement of finished goods from producers to middlemen and, everntually, to consumers is:
Transportation.
The use of coupons, free samples, displays, and other point-of-sale techniques assume that consumers are at which stage in the Hierarchy of Communications Objectives?
Trial and purchase
When marketers of automobiles offer to let consumers "take a car home" for an extended test drive and offer generous return policies, they are emphasizing objectives at which stage of the Hierarchy of Communications Objectives?
Trial and purchase
A major drawback to Whirlpool for producing private label version of its appliances for retailers, such as Sears, who also sell the Whirlpool brand is that some of Whirlpool's sales of its own brand will probably be cannibalized.
True
Associative barriers are not always bad.
True
T/F: Innovations must deliver practical or perceptual value that benefits someone; in turn that someone must be willing to give up something of value in order to obtain or use the innovation. For new products to be described as innovations they also must be useful. There are more inventions than innovations.
True
T/F: Invention—the word refers to a dimension of uniqueness—newness related to the form, formulation, or function of something.
True
T/F: Managing innovation processes successfully is more a matter of subtraction than addition.
True
T/F: The power of any person's creativity, once established, rarely if ever fades.
True
T/F: When marketing new songs, movies, or fashion, the best spot—the sweet spot—for new product developers is new stuff that simultaneously feels fresh and familiar.
True
The major distinction between voluntary chains and retailer cooperatives is who originated the distribution system.
True
There are many products sold that bear the Harley-Davidson brand, however Harley-Davidson does not manufacture these products.Instead, Harley-Davidson allows other manufacturers to use its brand name in return for royalties on the sales of these products.Harley-Davidson is apparently employing a brand licensing strategy.
True
Co-branding occurs when:
Two brands from different companies are used on the same product. One company is seeking to expand its brand equity into a new product category and/or market and is willing to pay for the priv ilege.
What one word best describes and summarizes the key difference between invention and innovation?
Usefulness
When the subject turns to innovation, real, real big-thing innovation, one thing:
Usually leads to another
Jeremy Bentham (1747-1842) wrote, ''The right (ethical) thing to do is that which maximizes utility." Stated differently, inside marketing settings the right thing to do is the choice that generates the highest overall happiness. These two statements illustrate:
Utilitarian principles
Jeremy Bentham is the father of which theory of ethics?
Utilitarianism
Which pricing tactic relies on customers' perceptions of the product's value to establish price?
Value-based pricing
Consumers may switch between different brands of some convenience goods out of boredom, just to change things up. These brand-switching behaviors are known as ______________. Purchases may have been preplanned in that consumers "knew" they were going to purchase a specific product or brand but changed their minds in-store, deciding to try something different.
Variety-seeking decisions
In certain newly developed clothing items featuring spandex, spandex itself solves the same customer problems that --------- used to solve. This, according to your book.
Whalebones
In certain newly developed clothing items featuring spandex, the spandex itself solves the same customer problems that _________ used to solve. This, according to your book.
Whalebones (corsets)
The main difference between retailer cooperatives and voluntary chains is:
Who organizes them
Grainger Worldwide buys a wide range of industrial products (mainly maintenance, repair, and operating supplies) from manufacturers and resells these products to other business users. When making sales to its customers, Grainger is engaged in _____________
Wholesaling
Whether a given transaction is classified as a wholesale sale or as a retail sale essentially depends on:
Whether the product will be used by an organization or by a consumer
the term known as... is an economic concept that descirbes the existence of high start up
barriers to entry
Which NPD activity involves taking something and altering a property, aspect, or dimension of the original element or object?
bending
which ndp activity is analogous with creating new inter..
blending
Innovative ideas must be complex in nature. That's because consumers typically seek many options, choices and features in new products - a tendency that makes complex products much more desirable.
both statements are false
B2C customers always see price cuts as positive..
both statements are true
supply chains are like rivers, they will run or flow whether or not they are managed..
both statements are true
Marketers that enjoy _________________________ can generally raise prices without losing market share.
brand equality
Public relation communications can and should be used to build and protect _________________.
brand equality
A _____ is an independent agent wholesaling middleman that brings buyers and sellers together and provides marketing information to both parties.
broker
When Jon Jones decided to sell 10 acres of land, he contacted Leona Anderson. She showed the land to a potential buyer who wanted to build a home on the site, explained the market conditions for land in the area, and helped negotiate the terms of the sale. She left the final decision about the sale up to Jon and the young couple. Smalley is most likely a
broker
the first rule of successful storytelling
care about the story
_______ are groups of two or more retail stores operated by th same entity
chain stores
Which of the following C-words must be present before innovations can be successful?
change
which of the following is rarely a good word to describe..
cheap
according to the skinny, ethical marketing decision-making is not so much about being..
clever, ended
Which of the following words does not belong to the set of five criteria that can be used to identify the best NPD ideas.
complex
Which test seeks to determine whether eventual new product users will either want or need the proposed product?
concept test
when present... encourages consumers to seek
confirmation bias
Which type of criticism encourages people to fully engage in their work, leading to better ideas.
constructive criticism
what two elements need to come together in order to form positive attitudes..
consumers' self concept
What is the most common type of innovation?
continuous
The makers of Rollerblade ran a series of ads with the headline "What's in a name? Everything." Based solely on the headline, the ad probably was attempting to rejuvenate sales for the declining brand.
false
business and marketing ethical guidelines are often grounded in
economic, accounting
B2B and B2C customers almost always respond to
incentives
which of the following is not a typical communication outcome
increase in short-term sales
If demand the for branded products hardly changes (either up or down) when the prices of those products has changed, then demand for those products should be described as:
inelastic
which of the four characteristics that distinguish..
inseparability
Communication is the process of conveying a message to others and requires many elements. Those elements are a source, a(n) __________, a channel of communication, a receiver, and encoding and decoding processes.
message
Which of the following is not a critical component of most successful NPD efforts?
money
Domestic marketers annually spend ______________ money on sales promotions than is annually spent on advertising.
more
the concept known as opinion leadership..
most consumers are actually followers..
the word... refers to promotional clutter
noise
The advantages of using manufacturers' representatives include all of the following except:
none
several normal and expected marketing acitvities are shown below
not certain, advertising
which advertising budgeting approach is developed based on established goals and analytic outcomes..
objective and task method
Intersections and intersectional thinking imply that new product developers interacts with others who have ______________ ideas, which allows them to broaden the new product developers' thoughts and insights.
opposing
intersections and intersectional thinking imply that new..
opposing
The best long-term hope for domestic professionals seeking to compete successfully with their foreign competitors entails:
out-creating them
when... are spanned, the right
price gaps.. maybe
Anything that can be offered to individuals, market segments, or entire markets for customers' attention, acquisition, use, or consumption that might also satisfy their (i.e., individuals', segments', or markets') wants/needs-or solve their problems is best described as a:
product
the amount of money paid by manufacturers or distributors to retailers...
spiffs
During which stage of the NPD process should marketers ask and answer what are our primary firm's goals and what are our targeted customer's primary (or only) problem(s)?
stage 1
The ability to act and decide creatively proves most important during which stage of the NPD process?
stage 2
During which new product development stage are most ideas eliminated?
stage 3
the broadest definition of price is
the sum of all values that customers..
which factor should not be used to determine whether a consumer product should be classified..
the value of the intangible dimensions
which factor does not influence the stage of an individual products life style
these are all important factors
Why is it useful to read both the Wall Street Journal and the New York Times?
to integrate multiple perspectives
A major potential drawback to the co-branding strategy is the risk that consumers may not perceive that the new co-branded product fits their images of one or both partnering brands.
true
Brands are not just symbols, they are also psychological constructs.
true
P&G has decided to add a line of life insurance instruments targeted to consumers of its existing brands. This decision will result in P&G increasing the ________ of its product mix.
width
The average attention span of American consumers used to be around thirty seconds. How long are average American consumers' attention spans today?
3 to 5 seconds
The innovative act known as ____________ involves mixing solutions from previously related or unrelated sources together in new ways
Blending
Which NPD activity is analogous with creating new intersections?
Blending
The totality of synaptic associations in a consumer's mind that hold all the feelings, images, sensations, experiences, and other content representing a brand is called:
Brand Schema
The part of the brand that consists of words, letters, and/or numbers that can be vocalized is called the:
Brand name.
Brand equity can also accurately be described as:
Brand pricing Pricing power Brand insight
____________ are responsible for managing a group of related products stocked by a retail store
Category managers
For which of the following products is exclusive distribution most likely?
Caterpillar tractors
__________ are employed when advertisers refuse to engage in the consent decree. The FTC can this remedy to force Firms to remove offending communications from circulation.
Cease and desist order
Celebrities tend to be perceived as credible sources that can influence consumer purchasing behaviors for which of the following reasons?
Celebrities often score high on all of the above.
Missionary sales personnel promote the firm's products to prospective customers and then encourage those prospects to place orders with the firm's normal field sales personnel. Missionary sales personnel are usually compensated via:
Combination plans that provide a substantial salary base, plus commissions based on the volume of sales referred to the firm's normal outside sales force.
The positive rewards accruing to consumers from purchase and use of a brand along with the use of reminder advertising positively reinforce the consumer's brand purchase decision during the __________ stage of the Hierarchy of Communications Objectives.
Conviction and brand loyalty.
Consumers typically buy-------------- goods based on variety seeking, impulse, and inertia behaviors
Convience
Which of the following phrases best captures those laws and regulations that allow consumers to extricate themselves from the consequences of purchases where those customers feel they were pressured into buying products they now regret?
Cooling-off regulations and laws
____________ are lower quality unauthorized copies of major brands.
Counterfeit brands
The first, critical step in the Hierarchy of Communications Objectives is _________ .
Creating awareness
Determining the Big Idea is part of the ______________ stage of advertising strategy development.
Creating the advertising message
Most individual professional marketers should strive to earn a reputation for being:
Creative
The term known as _____describes processes by which innovative firms, technologies or ideas displace the value of existing firms, technologies or ideas and usually generates long-term economic growth in the process.
Creative destruction (correct)
When promotion is used to encourage consumers to purchase less, or at a later date, they are attempting to reduce demand for the advertised product. This promotion objective is called ________ .
De-marketing
The concept known as -------- implies that the market demand for industrial/business/governmental goods directly or indirectly flows or follows from the demand for consumer goods.
Derived demand
__________________ innovations are new and useful products that change everything, but particularly customer behavior.
Discontinuous
The development of fully electric cars offers an example of a(n) _____ .
Discontinuous innovation
Three types of innovations exist. The three types are:
Discontinuous, dynamically continuous, and continuous innovations
T/F: The word invention refers to an overall process whereby innovations are transformed into commercialized products that can be sold profitably. The word innovations refers exclusively to some dimension of uniqueness.
Each statements is false.
Ford Motor, recently introduced a new, low-priced, and smallish model called the Figo in India. The Figo is targeted at tens of millions of Indian consumers who are only now able to afford their first car. This is example of ____________ impacting a firm's potential global marketing strategy.
Economic factors
When automotive dealers emphasize the quality of their friendly and expert service at dealerships, comfortable and clean waiting rooms at service facilities, liberal financing options, and no pressure sales, they are attempting to influence customers' perceptions of the _____________ level of brand.
Enhanced
Which social network currently generates 80% of all online advertising revenue?
The disadvantages of licensing as a means for US firms to enter foreign markets include all but the following:
Increased costs associated maintaining the licensing arrangement.
Why are marketers more likely to be the targets of ethical criticism?
Marketers' transgressions are typically more visible than any other professionals working inside firm
A _________________ is the price added to a product to cover to cover the costs of overhead and secure profit.
Markup
Movement of parts and materials from their sources of supply into the manufacturing process is called:
Materials management
Dial Company introduced liquid soap in 1988. Today competition in the industry is intense. The manufacturers of liquid soap are adopting a defensive positioning strategy and intensive product distribution. Their promotions appeal to brand loyalty. From this information, you know that liquid soap is in the _____ stage of its product life cycle.
Maturity
Poor management of the marketing mix contributes materially to _______________________.
NPD failure (correct)
In what ways does successful NPD benefit society?
NPD increases productivity NPD increases economic growth
When channel members haggle with one another over final prices and product placement within retail settings they are performing which channel function?
Negotiating
Lowe's, Home Depot, Staples, Target, Walmart, Barnes & Noble, Bally's or LA Fitness Health Clubs, PETSMART, Old Navy, Best Buy, Bed, Bath & Beyond, and Toys-R-Us are typically located in ____________.
Power centers
According to leading experts, the______________is the second most important innovation in history (the wheel remains most important).
Printing Press
According to leading experts, the second most important innovation in history (the wheel remains most important) is:
Printing press
Typical goals of ____________ are to garner positive news releases, arrange interviews between the media and the firm's spokespersons, lobby governmental agencies, support charitable events, and engage in corporate (institutional) advertising
Public relations
The word _____________, when applied to new ideas, means that the idea would speak directly to someone.
Resonate
__________ includes all activities involved in selling goods and services to ultimate consumers for their own personal use.
Retailing
Amazon.com sells products via the Internet predominantly to ultimate consumers for their own personal or household use. Amazon is a(n) _________
Retailing intermediary
Which of the following is not true with respect to using salary-only compensation plans for sales personnel?
Salary-only plans offer little motivation to sales personnel to increase their selling efforts.
A _____ essentially substitutes for a manufacturer's marketing department by marketing the firm's entire output.
Selling agent
Sophie Taylor sells the entire output of several small companies based in Colorado Springs' Tech Center. Each of the companies designs and produces computer components. Sophie has almost complete control of all marketing activites since the engineers who started the companies lack marketing experience and want to focus on what they do best --- inventing things. Sophie is paid a substantial commission on all sales. She is a
Selling agent
_________ entail actions performed by people or machines that deliver desired values to customers.
Services
For which classification of consumer goods would consumers expend the most effort as they attempt to make just the right choice?
Shopping
The best NP ideas, the ones that do the best job of solving complicated customer problems, are typically:
Simple Unexpectedly brilliant Credible Obvious when retrospectively looking backward (as in: What took us so long to figure this out?)
Most new products are:
Simple additions to or deletions from existing products.
Professionals guided by _________________________________ generally do whatever the situation allows them to get away with, without regard to the wider longer-term good of their firm or themselves.
Situational ethical values
The firm's promotion mix consists of all of the following except _______
Social media
In order to be _____________________ marketers should strategically evaluate their customers' wants and long-term needs - as well as society's long-term interests - before doing anything else.
Socially-focused
Managing innovation processes successfully is more a matter of subtraction than addition.
TRUE
A brand's image (brand image) is primarily a function of:
The core brand The physical brand The enhanced brand The affective brand All of the above determine brand image.
What statement best describes the general quality of products made in the US today?
The delivery of high quality now is viewed as a necessary condition to effectively compete
According to the text, what can be said about the general quality of products made in the US today?
The delivery of high quality now is viewed as a necessary condition to effectively compete in industries.
Brand equity refers to:
The extent to which customers are willing to pay more for a product or service
The target audiences for a firm's public relations effort is least likely to include which of the following?
The firm's competitors
Because services are simultaneously produced and delivered, they cannot be separated from the persons who deliver them. The quality of the service and utility (value) delivered to customers result from the efforts of those who perform the service. This reflects which characteristic of services?
Their inseparability
When you work out at a health club, you receive no takeaway, except perhaps feelings of accomplishment, exhaustion or both. This reflects which characteristic of services?
Their intangibility
Many professional service providers charge for missed appointments. This practice reflects what characteristic of services?
Their perishability
Services cannot be stored. If unsold the service is lost. This reflects which characteristic of services?
Their perishability
The major advantage to using the competitive parity of IMC budgeting is:
There are no real advantages.
Memorable advertising messages that are easy to recall and remember should possess which of the following characteristics?
They should be "believable" They should be distinctive in that they should stand out from similar messages offered by competitive brands They should be "determinant" in that some unique feature or benefit that is associated with the brand should be emphasized. All of the above are important
Coke insists that wait-staff in restaurants selling only Pepsi products ask patrons if "Pepsi will be OK?" when the customer requests a "Coke." This is done primarily to help prevent the "Coke" brand from becoming declared as generic.
True
Vermont, a northeastern U.S. state, currently offers $10,000 a year for people to move there even if they elect to work in another state. What is being marketing here? Be as specific and as exact as possible in your response.
a place
The emotion that is most likely to be shared inside social media channels is:
anger
consumers generally over-value..
assurance
Any marketing organization's sunk costs and switching costs will most likely need to be evaluated during which PLC stage?
decline
Apple is a good example of an organization and brand that uses product ________ to differentiate?
design
.... is far more likely than...
design, style
Situations arise where one firm prices below its actual cost of making and marketing a product in order to injure another firm and eventually to eliminate that marketer as a competitor. This unethical practice is known as:
dumping
marketing organizations generally create vertically-intergrated.
economics of scale
Advertisements are effective at reminding and informing customers as well as at conveying and eliciting customer _________________.
emotions
the term... represents the lowest common ethical denominator..
ethics
the presence of consumer.... often falsy change consumers
expectations
In a marketing context, _______________ entail(s) the tendency of customers to do nothing or remain locked in on decisions or behaviors they have already made or are living out.
inertia
Many consumers continually rebuy the same brand but have little or no emotional commitment to the brand. This behavior represents purchasing due to
inertia
The world's largest library that formerly existed inside Alexandria, Egypt is a good example of why _____________ are critical for creative success.
intersections
During the _______ stage of the PLC the primary marketing mix goal is to develop greater awareness of the existence of the new product among its audience.
introduction stage
integrating multiple perspectives, avoiding psychological traps,
lessen or eliminate
the concept known as... can provide foundations on which differentiating marketing values can be established
marketing mix
The _____________ advertising budgeting method could rightfully be described as a "follow the leader" approach and typically happens inside oligopoly markets.
parity
Which element, from among the entire traditonal promotion mix, is usually most persuasive?
personal selling
which of the nine conflict management and resolution should remind
pick your battles carefully
which type of consumer goods inverts the economic law that suggests higher product..
positional
The unethical act of _____________________________ exists wherever marketers extort, exploit or take huge advantage of buyers just because they can.
price gouging
Which communication goal features, at its heart, the core message that "We're still here and here's why we're still good"?
reminding
marketers usually should strive to introduce
simple
The personality of the Hallmark Greeting Card brand (i.e., Hallmark's brand personality), is best described as:
sincere
the most successful brands are usually..
tell the best stories
Even when using penetration pricing strategies, marketers should rarely if ever use the word cheap to describe the prices of their brands/products. --TrueFalse
true
brand stories should always be fact-based and real
true
during most consumer decision-making processes consumeers fail to engage
true
during most consumer decision-making processes fail to engage
true
Underdeveloped but emerging nations cannot afford the technical equipment that is the backbone of more developed, or industrialized, nations. This is example of ____________ impacting a firm's potential global marketing strategy.
Economic factors
Because many consumers see no differences between products at the basic level, proper management of the ___________ level of product allows the firm to differentiate its product from those of competitors.
Enhanced product
The 'level of product' that most closely represents the 'extra utility' provided by services such as credit, warrantees, delivery, post-sale service, etc. is called the:
Enhanced product
Friendship, Commerce, and Navigation (FCN) treaties with other countries typically:
Establish the rights of US firms engaged in marketing activities in foreign markets Establish standards related to product specifications Establish agreements on patent and trademark protections Identify reciprocal tax agreements between countries All of the above.
When all or most of the product items in a firm's product mix bear the same brand name, the branding strategy is called brand extension. --TrueFalse
False
T/F: Bending—inside NPD settings—entails taking whole things apart and then re-assembling something new and useful from the fragments, as in re-engineering.
False Bending involves taking something and altering a property, aspect, or dimension of the original element or object; as in redesigning.
The number of different product lines carried by a retailer is its ________
Merchandise breadth
The Clorox Company, a manufacturer of bleach, has added a line of bleach-free disinfectant wipes for cleaning up spills and sticky fingers. With the addition of the Clorox disinfecting wipes, the firm has changed its:
Product mix width or breadth.
Amanda is examining advertising, social media posts, and company websites, as well as talking to sales people to acquire information as she considers alternative DVD players for purchase. Which stage in the Hierarchy of Communications Objectives is illustrated in this example?
Structuring beliefs and attitudes
During the __________ stage of the Hierarchy of Communications Objectives, the key to differentiating the advertiser's brand from competitors is to emphasize determinant attributes in promotion communications.
Structuring beliefs and attitudes
The VMS in which a large scale wholesaler brings together or sponsors a number of independent retailers is called a:
Voluntary chain
Which organization is currently seeking to differentiate its brand by promoting the experiences that its product provides and experienced itself?
de beers
Which step in the traditional communication process unfolds precisely as recipients receive messages?
decoding
deal-seeking customers are often loyal to the
discounts,
Using __________ firms attempt to communicate their positions on important issues. The purpose is to influence the opinions of targeted audiences concerning the issue. Often the general public is the primary target audience.
Advocacy advertising
Which budgeting approach entails spending the amount on advertising that marketing managers believe their firms can manage or handle?
Affordable method
When retailers such as Kroger or Winn-Dixie bring together a variety of different products to offer their customers, they are peforming the __________ channel function.
Assorting
When the UNT Bookstore brings together the range of books, supplies, sundries, and gifts it believes customer want, it is engaged in _______ .
Assorting
Consumers generally over-value ________________, and this tendency often motivates consumers to purchase warranties that cost more than the lost value or repairs of the product itself.
Assurance
Which of the following is not a key question a firm must address when deciding whether it should "go global?"
Can the firm be sure that it can use its current business model in global markets?
Advertising in which brands are directly compared against one another are called _______
Comparative ads
Invention is best defined as new things that are also useful things, because the new things solve new or old problems in new ways
FALSE
_____________ are not directly involved in the transfer of title for products moved through distribution channels. They do, however, provide a range of specialized support services that allow supply chains to function more efficiently.
Facilitating agents.
__________ usually limit sales to products produced by a single manufacturer. These stores are owned and operated by the manufacturer and, therefore, exemplify corporate vertical marketing systems.
Factory outlets
Manufacturers of national brands generally will also produce products under private labels. This is done because the Sherman Anti-Trust Act and other Federal laws require manufacturers to accept private label contracts in order to preserve industry competition and provide consumers with a better choice of products.
False
Most successful new product developmental efforts entail making and processing substantial changes to existing products.
False
Procter and Gamble makes extensive use of multiple branding for items in most of its product lines. This strategy makes it easier and cheaper to launch new products due to the common image associated with all P&G brands.
False
T/F:Most successful new product developmental efforts entail the making and processing of substantial changes to existing products.
False
The affective brand consists of the basic benefits, features, and quality delivered by the product.
False
The failure of 'New Coke' illustrates the danger of ignoring the importance of the enhanced brand with respect to its contribution to the consumer's overall brand image.
False
The success of B2B marketing efforts, generally, is driven by the satisfaction of customer wants. The success of B2C marketing efforts, generally, is driven by the satisfaction of customer needs.
False
The most severe remedy available to the FTC against firms charged with false, misleading, or deceptive advertising is __________ .
Fines.
Which of the four characteristics that distinguish intangible products (services) from tangible products best captures the reason why services cannot be produced and inventoried (stored-up) for later consumption?
Inseparability
Sandra Locke sells gluten-free specialty food products to grocery wholesalers and large retail grocery chains in Tampa. She sells for several manufacturers with noncompeting lines of gluten-free foods and earns a 4% sales commission. Sandra does not own or inventory the products she sells. Evidently, Sandra is a:
Manufacturers' agent.
The need to understand the importance of global marketing is based on
Many large corporations producing products commonly purchased in the US are headquartered in foreign countries International logistics and transportation costs are rapidly declining making it possible for even small firms to penetrate global markets American-made goods are favorably perceived in many foreign countries Marketing via the Internet has become increasingly easy and has opened international markets All of the above.
Which of the following is not a critical component of most successful NPD efforts?
Money (correct)
Poor management of the marketing mix contributes materially to _______________________.
NPD failure
With respect to product mix terminology, the range of brands within each of a firm's product lines are called:
Product items
Colgate produces a wide range of toothpastes, mouthwashes, toothbrushes, and related oral care products. With respect to product mix terminology, each of these categories of products within Colgate's portfolio are considered to be a(n):
Product line
With respect to product mix terminology, a firm's closely related product items in terms of characteristics and function are referred to as:
Product lines
South Africa's De Beers, the world's largest diamond producer, uses glossy high-image advertising with little copy in upscale publications to convey its prestige messages in all international markets served. The same message and associated marketing program are employed in all its markets. De Beers is using a(n) ______.
Straight extension strategy
Which industry first extensively employed the strategy known as "co-branding"?
The credit card industry
T/F: Blending—inside NPD settings—involves mixing solutions from previously related or unrelated sources together in new ways.
True
Promotional message pointing out both the positive features and negative deficiencies (and then refuting the negatives) are called ___________ .
Two-sided messages
Which of the following is being used when a manufacturers engages in "full-line forcing."
Tying contracts.
Grainger Worldwide buys a wide range of industrial products (mainly maintenance, repair, and operating supplies) from manufacturers and resells these products to other business users. Grainger is a _____________
Wholesaling intermediary
The discussion involving male peacocks and their gaudy tails was used to illustrate:
Why consumers often display their "worth" through purchasing positional goods. Why consumers often display their "worth" through specialty goods and luxury brands
Which percentage of professionals say they do their best thinking - creatively foraging through ideas- at work?
about 10%
in the increasingly globalized and technologically..
all of the above
which of the following factors do not increase the risk of NPD failure
all of the above..
which customer response to downward price adjustment helps marketing organization address their own cash flow problems
allocating more self space
the presence of.... allows marketing
brand loyally
whats the most accurate statement
brands are what prospective or actual customers say they are
supply chain design-related questions generally relate to.... and..... of "partners"
control; performance
The totality of synaptic associations in a consumer's mind that hold all the feelings, images, sensations, experiences, and other content representing a brand is called brand position.
false
which advertising execution style focuses on selling branded-images more than the associated products themselves
lifestyle-based
storage, order processing, and shipping are the primary
logistical
the primary goal of public relations communications
longest one
marketers should relentlessly tell great branding stories in hopes of creating larger amounts..
loyalty and equity
The opportunities for self-expression and social emulation are factors that regularly motivate consumers to purchase _____________________________.
luxury products
the presense of.... products or pricing options permits people to more precisely select..
many, too many
The highest level of competition prevail inside markets during the _________ stage of the product life cycle
maturity
which promotional mix elements not just
personal selling
Apple computers have been characterized as "works of art" rather than just computers. Apple's focus on design aesthetics and functionality has proven a key ingredient to Apple's success. Apple is doing a great job of managing the ____________ level of product.
physical
_______________arises when brands brag about their support of worthy causes but the percentage of proceeds actually donated to support the cause is shamefully small
pinkwashing
the term of the phrase.... describes a strategic marketing practice where marketers design and market...
planned obs.
---------- products deliver immediate satisfaction and consequently are easier to market. Yet---------- products may actually injure people who consume them because they often generate radically non-beneficial longer-run consequences.
pleasing
The term ________________ describes a person, often a professional, who and is driven by broad interests across many different disciplinary fields.
polymaths
The purchase of luxury branded purses or expensive art illustrate which sort of consumer goods category?
positional goods
when seeking to build profitable services, marketers, should usually avoid
price competition
The circumstance in which two or more firms mutually agree to set prices at some predetermined level is known as:
price fixing
which pricing strategy is both unethical and illegal
price-gouging
________________ promotion(s) entails the use of promotional strategies where firms attempt to take theirproducts downstream toward the customers.
push
In which promotional strategy do marketing firms attempt to take their products downstream through supply chains on a partner-firm-by-partner-firm basis toward end-use consumers?
push strategy
Absent the presence of this leveraging tool marketers will surely fail, but the tool usually is no longer a winning point of differentiation all by itself.
quality
A national grocery store chain has decided to sell an assortment of hobby, gardening, and cook books. Buyers in the chain's main office are not certain what to stock because they think that consumers in different areas of the country will probably be interested in different books. The store managers have said they don't know what to order either. The chain should probably get help from a:
rack jobber
The word _____________, when applied to new ideas, means that the idea would speak directly to someone.
resonate
---------- describes the appearance of products, down to their websites, packaging, or the colors that accompany or complement their brands products. In fact, everything that directly or indirectly communicates anything about branded products relates to their ----------
style
__________ are costs that have already been made and cannot be recovered.
sunk costs
This test determines whether the firm already possesses or could produce an effective marketing strategy, an effective marketing mix, and the resources necessary to successfully commercialize the new product. Commercialize means actually bringing-introducing-the new product to market.
the market test
In today's marketing world the primary reason for using public relations is to clean up messes and issue apologies to key segments or publics.
true
Marketers enjoy the legal rights to use any product message they choose (so long as the product message is not misleading or dishonest or offensive to any particular oppressed group); and to use incentives.
true
The fact that customers usually do not make distinctions between marketing messages is one reason why integrated marketing communications has emerged as such an important promotional device.
true
The facts are that many ideas usually must be evaluated and eliminated before the new product developer identifies at a genuinely high-quality idea.
true
typically, consumers are not really motivated by brands or marketing firms themselves..
true?
Which of the following traits or descriptions do professional managers generally seek from their new hires?
ummm...??
Which answer is wrong (i.e., does not fit)? The best NP ideas, the ones that do the best job of solving complicated customer problems, are typically:
unexpectedly brilliant
How many commandments did the Jews eventually write to supposedly govern their moral behaviors?
613
During 2018 what percentage of every dollar spend on online advertising went to Google or Facebook?
99%
Assemblers are commonly found in the agricultural and fishery industries. Large food products producers (Hunt, Campbell, StarKist) do not want to buy direct from many small farmers or fishermen. They prefer to buy in large quantities from these assemblers that have already pooled these smaller quantities. The assembler is performing which channel function?
Accumulating
Who said you cannot solve problems using the same sort of thinking that created them?
Albert Einstein
Who said, "You cannot solve problems by using the same sort of thinking that created them"?
Albert Einstein
__________ inside the US kills far more people annually than smoking.
Alcohol consumption
Anthropologists suggest that humanity's most basic fears are?
All of the above
Marketers should develop plans to manage ____ before they actually commercialize new products and introduce them to targeted B2C market segments.
All of the above
Innovative ideas must be complex in nature. That's because consumers typically seek many options, choices and features in new products - a tendency that makes complex products much more desirable.
Both statements are false.
Which of the following is a major benefit of branding to marketers?
Branding can aid in developing loyalty to the Firm's products. Branding makes it easier to introduce new products Branding helps create barrier against successful imitation by competitors Branding makes it possible for Firms to charge higher prices. All of the above are distinct benefits to Firms for branding their products.
Marketers should usually do everything reasonable and possible to make their messages more persuasive. Which key message trait emphasizes that persuasive messages should trigger an emotional or intellectual response?
Connectedness
Surrounding oneself, as a path to creativity, entails:
Conscious immersing oneself around interesting people or ideas
Surrounding oneself, as a path to creativity, entails :
Consciously immersing oneself around or with interesting people or ideas
The simplest remedy available to the FTC against firms charged with false, misleading, or deceptive advertising is __________ .
Consent decree
The Polo outlet at Grapevine Mills, a large factory outlet center, is an example of which channel structure?
Corporate vertical marketing system
Which of the following statements about creativity is not true (false)?
Creative people are more difficult to work with because they are so "scientific-like in nature."
Which of the following statements about creativity is not true?
Creative people are more difficult to work with because they are so "scientific-like in nature."
_____________ entails experiencing the same stimuli as everyone else but being willing and able to develop something new that others do not consider.
Creativity
Nike unintentionally agitated Chinese officials after it released an ad in China that featured Lebron James destroying several culturally-esteemed Chinese figures in a Kung Fu-themed television promotion. Chinese politicians asserted that the ad violated regulations to maintain national dignity. These are examples of ____________ impacting a firm's potential global marketing strategy.
Cultural differences
South American business persons prefer to sit close to other another—truly nose-to-nose or side-by-side—when discussing business affairs. The American business person's propensity is to back away when someone infringes on his or her personal space. These are examples of ____________ impacting a firm's potential global marketing strategy.
Cultural differences
The average French husband uses about twice the amount of cosmetics and grooming products as his wife. Germans, the French, and Americans eat more packaged and branded spaghetti than Italian consumers. These are examples of ____________ impacting a firm's potential global marketing strategy
Cultural differences
The key "publics" that are targeted by a firm's PR efforts include all of the following except _____.
Customers of the firm The firm's competitors The general public The firm's employees All of the above are targeted. There are no exceptions.
In marketing, the word "telling" in Truth-Telling means giving customers full and fully-accurate disclosure of information to the extent that the information is necessary for consumer to make well-informed, well-grounded, and safe purchase decisions; this according to an ethical theory developed in large part by
David Strutton
Advertising by advocacy groups and governmental agencies that attempt to reduce demand for a product is called ________ .
De-marketing
The Communications Process from the message sender to the message receiver begins with the sender formulating the "message" and ends with _________ .
Decoding the message by the receiver
____________ offer a full range of services including credit, delivery, generous return privileges, hair salons, travel services, automobile insurance, and (occasionally) restaurants. Sales personnel are expected to be helpful, courteous, and knowledgeable. Each department in inside the store operates as an autonomous unit that is responsible for its own buying, merchandising, revenue,and profits.
Department stores.
When the dimensions (or attributes) in new products differ from the dimensions (or attributes) present in existing products, and those differences are important to targeted customer segments those dimensions can be described as (choose the best answer):
Determinant
During the "structuring beliefs and attitudes" stage of the Hierarchy of Communications Objectives, the key to differentiating the advertiser's brand from competitors is to emphasize ___________ in promotion communications.
Determinant attributes
Which of the following product categories does the best job of illustrating the powerful ability of marketing to create meaning and value for a product in the minds of consumers?
Diamonds
Marketers can establish brand personalities and then use those brands' personalities for purposes of achieving:
Differentiation
With __________ firms invest in and establish their own foreign-based assembly or manufacturing facilities.
Direct Investment
Three types of innovations exist. These are:
Discontinuous, dynamically continuous, and continuous innovations
Core-Mark, a large grocery wholesaler, maintains a number of _____________ at key points in the United States that receive products from a large number of manufacturers in truckloads. Deliveries are received, sorted, accumulated, and reallocated to retailers in an efficient and timely manner.
Distribution centers
Large single story facilities designed specifically for performing the accumulating, sorting, and allocating functions as efficiently as possible are ____________.
Distribution centers
A _____ consists of the set of people and firms involved in the transfer of title to a product as it moves from producer to ultimate consumer or business user
Distribution channel
AMC's inclusive strategy for autistic children and their parents provides a good example of:
Doing well by doing good
BP ran an effective institutional advertising campaign to improve its image after the Gulf oil spill. The purpose of the ads was to inform the public, affected citizens and businesses, and governmental agencies of its efforts to clean up the spill and its steps to ensure that it would not happen again. When BP decided on the purpose(s) of the campaign is was in which stage of the advertising process?
Establish advertising objectives
The term _________ means that a domestic marketer ships goods or delivers professional services outside the country in which the marketer is located.
Exporting
Wells Fargo provides the financial services that allow supply chain members (wholesaling and retailing intermediaries) to establish and operate their businesses. In this context, Wells Fargo is a(n) ________
Facilitating agent.
Transportation firms, such as trucking companies and railroads, assist other supply chain members (producers, wholesalers, and retailers) by transporting products from point of production to point of consumption. In the context of supply chains, these transportation firms are called _________.
Facilitating agents
Distributors' brands are owned, supported, and promoted by the manufacturer.
False
When all or most of a firm's product mix features the same brand name, the branding strategy is called
Family branding
The advantages of brand extension as a strategy are most closely related to those of _______
Family branding.
Michelin's ads emphasizing keeping one's family safe by selecting the correct tires and American Cancer Society ads aimed at de-marketing cigarettes and other tobacco products are among the better examples of _____________.
Fear appeals
Which of the following is not a major trend associated with IMC
From the employment of large, corporate advertising firms to greater reliance on smaller, more specialized advertising production houses.
US customers are finally acknowledging that drinking soda may not be good for their health. At the same time governmental, regulatory, and other public interest forces complain continuously about and increasingly threaten the soft drink industry. As a result, the best response by Coca-Cola and other soft drink producers whose revenues are threatened domestically probably is:
Further emphasizing sales in global markets to offset declining domestic sales
The biggest challenge faced by most contemporary advertisers is:
Getting consumers' attention.
For which of the following products is intensive distribution most likely to be employed?
Gillette razor blades
Which of the following is not an advantage of vertical marketing systems
Improved cooperation between channel members Better service to ultimate consumers Reduced conflict in the channel Improved efficiencies and reduced costs All of the above are advantages.
Which of the following is not among the actions that category killers such as Best Buy have taken to effectively compete with department stores and internet retailers, such as Amazon?
Improved merchandising by expanding the merchandise mix
A vertical marketing system (VMS):
Improves the channel's operating coordination, efficiency, and effectiveness.
Which answer is correct? Positive brand equity can:
Increase the "share of mind" space enjoyed by the branded product. Be used by firms to launch new products more easily. Charge higher prices and not lose market share
The best innovations ________________ efficiency and ____________ demand.
Increase, stimulate
The term __________ refers to an overall process whereby inventions are transformed into commercialized and marketable products that can be sold profitably.
Innovation
The term _______________ describes the overall process whereby inventions are transformed into marketable products?
Innovation
A product can be described accurately as ________ when it delivers new value that is perceived as useful compared to the value delivered by existing products.
Innovative (correct)
The term used when multiple transportation modes -- trains, planes, automobiles, trucks, pipelines, barges, etc. -- are employed to ship any item is ___________ .
Intermodal transportation
A retail store's _____________ include the decor, merchandise arrangement and crowding, general layout, background music, color schemes, scents, acoustics and noise levels, lighting, and cleanliness of stores.
Internal atmospherics
To become and remain more creative, marketing professionals should establish more ---------- in their thought-life. Which is the best fill-in-the-blank answer?
Intersections
Great brands usually tell great stories, or narratives. The first rule of successful storytelling is:
Make hearers, readers, or viewers care.
Manufacturers' agentOld Smokie, Inc. is a small producer of specialty equipment for smoking meats. The company does not have its own sales force and has just introduced a cooker which smokes meats 50% faster. The cooker will most likely be distributed by a:
Manufacturers' agent
Jane Tuttle calls on the many gift shops at Estes Park, Colorado and sells a variety of unique decorative glass items, wind chimes, and picture frames produced by the companies that she represents. The store owners order from Jane rather than from the different manufacturers she represents. Apparently, Jane is a:
Manufacturers' agent.
A polymath is a person who is good at:
Many things
Reminder communications are generally more appropriate during which stages of the PLC?
Maturity and decline
From a consumer's point of view, branding:
Means getting comparable quality with each purchase.
Decisions about what features and attributes, and thus which benefits of the firm's existing products should be changed, added, deleted, and in what ways, are:
NPD and positioning questions.
Questions about what features and attributes, and thus which benefits of the firm's existing products should be changed, added, deleted, and in what ways, are:
NPD and positioning questions.
Should contemporary marketers always tell the truth and nothing but the full and complete truth to customers, according to Hamilton and Strutton's theory?
No, marketers should disclose information (tell the full truth) up to the point where not telling the truth will hurt consumers
With respect to the Communications Process, physical/psychological barriers, distractions, and other impediments to successful communication are called ____________ .
Noise
With respect to pricing services, during periods of slow demand, services marketers may employ ___________ to encourage and elevate demand.
Off-peak pricing
_____________ feature only a few large and usually dominant competitors. Meanwhile, the customers who purchase goods or service inside this type of market are often quite price-sensitive.
Oligopolistic markets
ABC corporation expects sales of $1,500,000 for next year and the promotion budget is limited to 5% of sales, the total promotion budget will be $75,000. ABC has employed the ______ method of budgeting.
Percentage of sales
With __________ the IMC budget is set at some fixed percentage of the previous year's sales or next year's forecasted sales.
Percentage of sales
With ____________ IMC budgeting, the overall budget is built up from specific budgets allocated to each promotional activity that is needed to achieve objectives.
Percentage of sales
When promotion messages are complex or when products benefits must be extensively demonstrated (e.g. computers, vacuum cleaners, DVD players), _________ is more appropriate.
Personal selling
______________ is considered to be the only promotional medium capable of "closing" a sale and directly generating revenue for the Firm.
Personal selling
When Hallmark markets Happy Birthday [Mom or Dad] greeting cards in Japan, messages are far more ceremonial and formal. This change illustrates a(n) _________ for penetrating an international market.
Product adaptation strategy
Marketers use tools other the traditional promotional mix when communicating with consumers. Which of the following answers is not an example of such a tool?
Product design Product's price The nature and brand of retail stores Product color
All of the products offered for sale by a firm characterize its:
Product mix
Which of the following is not a common criticism of promotion
Promotion provides too much information to consumers.
The key underlying principle of this theory or philosophy is that most people hate/fear losing more than they love/crave winning. The consequence of this principle is that too many people refuse to even try in risky situations because they fear the painful prospect of failure. These principles and its consequence are taken from ----------·
Prospect theory
The key underlying principle of this theory or philosophy is that most people hate/fear losing more than they love/crave winning. The consequence of this principle is that too many people refuse to even try in risky situations because they fear the painful prospect of failure. These principles and its consequence are taken from __________.
Prospect theory
_________ is a strategic communication process that builds mutually beneficial relationships between organizations and their publics."
Public relations
A primary purpose of ______________________ is to manage customer perceptions about brands by developing and executing news releases, speeches, promotional events and websites.
Public relations experts
Managing media relations, publicity, lobbying, and investor relations are generally handled by the firm's ___________.
Public relations staff
Which of the following is least representative of the installation as an organizational product?
Purchase decisions tend be solely the responsibility of purchasing agents.
In markets that feature _________________ competition no single firm has the absolute size or power to influence price levels.
Pure
In---------- markets no single firm possess the size, scale (EOS), or branding power to exercise much effect on pricing levels.
Purely competitive
The disadvantages of licensing as a means for US firms to enter foreign markets include:
Reduced control over how it's products are produced and marketing in the foreign country An alternative entry strategy may have been more profitable, particularly is the product gains substantial sales After developing an expertise and market for the licensed product, the licensee may break from the licensing arrangement and become a direct competitor with the US-based firm in the foreign market. All of the above.
Which of the following is not a benefit of business format frachises for the franchisors?
Reduced exposure to potential federal and state regulation.
The benefits of direct investment as a means of entering foreign markets include all of the following except:
Reduced risk of foreign governmental restrictions on operations.
Who said "I don't care if they hate my ad, I just need them to remember my brand when they need the product" indicating that irritating ads can be affective if they cause the consumer to remember the brand?
Reed Reeves
_____________ is probably the best promotional tool for stimulating new product trial and encouraging brand switching for consumer convenience goods.
Sales promotion
What type of product features low immediate appeal while delivering longer-term benefits?
Salutary products
Smaller independent retailers face high failure rates. Which of the following is NOT among the possible actions which can cut down on the odds of failure for these smaller retailers?
Seek to become part of an established network marketing system.
___________ limits the sale of products to a smaller range of retail outlets. This form of distribution is most appropriate for shopping and some specialty products that are tailored to meet the needs of well-defined market segments.
Selective distribution
Good ______________________ can turn angry customers into loyal customers.
Service failure recovery
The development and delivery of---------- involves applying specialized competencies and performing deeds and processes for purposes of benefiting others that also profit the marketer. Benefitting others generally means customers' problems are solved (i.e., their needs are satisfied). There is one absolutely best answer, because the initial statement always defines this specific word.
Services
Which of the following is true with respect to the "identifying hiring specifications" of the sales person recruiting process
The best approach to determining hiring specifications is to focus on identifying those factors most important for the specific sales job.
With respect to the Communications Process, the promotional medium selected to transmit the message to the receiver is called ____________ .
The communications channel
This test is conducted to determine whether the prototypical product, as it will be developed, will actually satisfy that customer's want or need (solve the problem) it was intended to satisfy (solve). This test is called:
The product use test
During the introductory stage of a product's life cycle:
The promotional program is designed to stimulate demand for the product category. There is very little direct competition. Costs are high. The profit curve is negative through most (perhaps all) of this stage. All of the above are true.
Which of the following is true concerning the importance of global marketing?
The proportion of US goods exported to other countries has doubled in the last 10 years International logistics and transportation costs are rapidly declining making it possible for even small firms to penetrate global markets American-made goods are favorably perceived in many foreign countries Marketing via the Internet has become increasingly easy and has opened international markets All of the above.
The reason why customers who already own or use many different Apple products would experience difficultly to choosing a new Samsung smartphone, even if Samsung developed an innovation that was objectively superior to Apple's existing product, is because:
The switching costs related to leaving the Apple product behind would be deemed "too high."
Among other undesirable outcomes, who does creative destruction injure or destroy?
Uncreative professionals
Among other undesirable outcomes, who does creative destruction injure or destroy?
Uncreative professionals (correct)
Which answer is wrong (i.e., does not fit)? The best NP ideas, the ones that do the best job of solving complicated customer problems, are typically:
Unexpectedly brilliant
--------- based pricing uses customers' perceptions of value, rather than marketers' costs, to establish prices. When using ----------• marketers establish desired price levels before other marketing mix program ingredients (product, promotion, distribution, and placement) are considered, developed, and managed.
Value based
_________________ summarize(s) all the reasons and values related to why customers should purchase one marketer's specific brand rather than alternative brands being promoted and positioned by other marketers.
Value propositions
_____________ is when a firm performs more than one set of activities in a marketing channel or supply chain.
Vertical integration
... are supply chains where one 800-pound-gorilla
Vertical marketing systems
---------- entails conspicuous expressions or demonstrations of one's moral values or social superiority. The wealthy might signal their charity; the religious their piety; the environmentally-conscious their green bona fides. Marketers routinely exploit consumers' propensity to engage in---------- .
Virtue-signaling
The primary distinction between voluntary chains and retailer cooperatives is:
Whether they are set-up by wholesalers or by retailers
Modern branding, as we commonly know it today, actually began
With the American west, and ranches' horses and cattle
According to experts, what three factors contribute most to the likelihood that you will succeed professionally?
Your IQ, birth family, and self-control.
apply chose to introduce three new
apple marketers knew.. maybe
the act of... entails the ability to produce intangible
creativity
----- products provide both immediate satisfaction and long-run benefits to customers.
desirable
which product type provides consumers with both immediate benefits and long-term satisfaction
desirable products
which of the following product categories best illustrate..
diamonds
when the dimensions or attri
differentiated
___________ arises when an existing or a new branded product is perceived as different from and is better than other branded brands from the same product category that are being marketed by competitors.
differentiation
Marketers can do well for themselves by remembering to _______________ with (or for) others.
do good
When communicating, (1) "contagious" information implies that information, once received, will more likely be spread by initial recipients to others. "Stickier information" (2), by contrast, implies that information, once received and processed, is more likely to stick around and be remembered.
each statement is correct
The word invention refers to an overall process whereby innovations are transformed into commercialized products that can be sold profitably. The word innovations refers exclusively to some dimension of uniqueness.
each statement is false
Adherence to which set of values leads to a higher standard for marketers as they encounter morals decisions?
ethics
____________ arise(s) whenever and wherever questions or doubts about the right or wrong choice to make in a particular situation arises.
ethics
what marketing element is most fundamental to and most important..
exchange
Convenience goods are most closely associated with which type of distribution strategy?
extensive
Ads and packaging for Vaseline always present the brand as Vaseline brand petroleum jelly because the producer does not want consumers to forget that Vaseline is a petroleum jelly.
false
Almost everyone cheats given the presence of one key condition. (Read this question carefully, no one is trying to fool anyone.)
false
Bending-inside NPD settings-entails taking whole things apart and then re-assembling something new and useful from the fragments, as in re-engineering.
false
The distinct lettering that identifies a brand is generally referred to as the brand mark,
false
The percentage-of-sales advertising budgeting method is usually not as effective as the objective-and-task-of-sales advertising budgeting method.
false
The term (or phrase) called _____ refers to an overall process whereby inventions are transformed into commercialized and marketable products that can be sold profitably.
innovation
The term __________ refers to an overall process whereby inventions are transformed into commercialized and marketable products that can be sold profitably.
innovation
The tendency to be outdoorsy, nature-loving and/or physically-active illustrate which key consumer segmentation criteria?
lifestyle
deciding to not tell the truth requires that one have incredible amount of....
memory
Expensive brands of wine are an example of:
positional goods
Creative professionals usually excel at which desirable trait?
problem solving skills
Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that collectively make up a marketing organization's:
promotional mix
The key underlying principle of this theory or philosophy is that most people hate/fear losing more than they love/crave winning. The consequence of this principle is that too many people refuse to even try in risky situations because they fear the painful prospect of failure. These principles and its consequence are taken from ----------·
prospect theory
Procter and Gamble employs extensive television and print advertising to create demand for its personal care products with consumers. Coupons, gifts, and premiums are employed at the point of purchase to stimulate trial and brand switching behaviors, as well as to create brand preference. P&G is employing a _________ promotion strategy.
pull
The goal of ______________ promotional strategies is to persuade or incentivize customers to come toward the marketer or brand.
pull
Which social media platform provides lower levels of viral-power because it is designed to reduce the share-ability of messages?
snapchat
Most American consumers (and citizens) usually view a small amount of _________________ as a appropriate safety net.
socialism
This test is conducted to determine whether the prototypical product, as it will be developed, will actually satisfy the customer's want or need (solve the problem) that it was intended to satisfy (solve). This test is called:
the product use test
What one word best describes and summarizes the key difference between invention and innovation?
usefulness
When the subject turns toward innovations and not just regular innovations but, big impactful innovations, one thing:
usually leads to another