MKTG FINAL EXAM

physiological

According to Maslow's hierarchy of needs, which needs are the needs that people first seek to meet?

a competitive advantage that few rivals can duplicate.

Because many consumers choose stores based on proximity to their workplaces or homes, great locations are

trademarks

Brands are assets that can be legally protected through

surveys

Inez is the campaign manager for a congressional candidate. She wants to know how voters across her district feel about recent sexual harassment scandals involving politicians. Inez will most likely use ________ to gather this type of data.

distribution

Kanton Publishing Company learned that when selling overseas, local fulfillment can be more cost-effective, and it also can decrease delivery time and improve customer service. This is an example of a global ________ strategy.

compatability

Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to many other areas in the world. These products offered ________ with consumers' needs and priorities.

increased choices

Laws that prohibit the formation of monopolies or alliances that would damage a competitive marketplace benefit consumers through

all parties to the transaction should be satisfied.

Leanne is considering a career in marketing. She is concerned about the image of marketers as fast-talking, high-pressure people who care only about making a sale. When reading about the core aspects of marketing, Leanne is pleased to see that in marketing

countries with high purchasing power today may not continue to show the same growth in the future.

Logan is working on a global marketing assessment team looking out well into the future to help determine the most attractive market areas around the world. He is evaluating market sizes and growth rates. Based on population growth rates in different regions, he should consider that

knowledge of customer demand

Manufacturers trying to implement a just-in-time delivery system need to start with

microblog

Twitter is considered a

segment size

Which of the following would be used in calculating the profitability of a segment?

brand extension

A ________ refers to the use of the same brand in a different product line.

target return

A ________ strategy involves accurately measuring all the factors needed to predict sales and profits at various price levels, so that the price level that produces the highest return can be chosen.

democratic

A buying center that makes its decisions by majority vote is a(n) ________ buying center.

the customer's family, reference groups, and culture.

A consumer's external social environment includes

fulfillment center

A(n) ________ is used in the shipment of products directly to customers.

high/low

A(n) ________ pricing strategy relies on the promotion of sales, during which prices are temporarily reduced to encourage purchases.

exchange rates

According to purchasing power parity theory, if ________ is(are) in equilibrium, products will cost the same in each country.

obtain a bigger share of the shoe market.

Adidas Group owns Reebok and Rockport—both of which offer different types of shoes. Having a variety of brands allows Adidas to use a differentiated targeting strategy to

lifetime profitability of relationships matters more than profits from a particular transaction.

After major hurricanes like Katrina, many ethical home repair and building supply businesses continue to charge pre-hurricane prices to their customers, even though they could charge much more due to the huge increase in demand. These firms probably recognize that

creation of the advertisement

After the advertiser has decided on the message, type of ad, and appeal, its attention now shifts to

how they communicate the services they promise.

Although firms such as restaurants have difficulty controlling service quality from day to day, they do have control over

market penetration

Andy decides to add new sales representatives and increase advertising to increase sales in her existing market for her current line of security systems. Andy is pursuing a ________ growth strategy.

the income effect

Annika operates on a pretty tight budget. She is a price-conscious shopper and usually buys store or generic brands to save money. Recently, however, Annika was given a pretty substantial raise. As such, she has altered her shopping patterns and now regularly buys more expensive, name-brand goods. This is an example of

having a sales force is worth more than it costs.

As marketing manager for a newly created software company, Colette is deciding whether or not to hire a company sales force. To make this decision, Colette needs to consider whether or not

defining the business mission

Audi's mission statement addresses urbanization, the need to work on traffic flows and safety in urban areas. To that end, Audi is working with Airbus to develop the Pop.Up Next driving and flying transport system that will enable vertical individual mobility. The strategic planners are engaged in

reference group

Beverage firms sometimes hire attractive young people to sit at fashionable bars, sipping the company's latest product offering. The firms hope these "models" will serve as a(n) ________ and influence consumers.

knowledge

Candace's marketing research returned the finding that customers were staying away from her home goods store because of a lack of services like gift cards, return policies, and special orders. Candace was shocked. "Nobody ever asks about that stuff! If it were that important, people would ask about it." Candace is likely suffering from a(n) ________ gap.

communication

China has three main languages, and many more dialects. This presents a particular challenge to developing a global ________ strategy.

psychographics

Education marketers know that the primary motivations of most nontraditional college students are self-respect and self-fulfillment, so they craft their marketing message to emphasize the benefits these consumers are looking for in a college education. What type of segmentation method was used to segment this market?

no single strategy is likely to be sufficient to build a sustainable competitive advantage.

For many years, Southwest Airlines distinguished itself as the low-cost airline. Now, many other low-cost competitors have entered the market. Similarly, Southwest was one of the first airlines to offer online ticketing. Now, all airlines have online ticketing. These examples suggest that

processed foods

For most makers of ________, especially those that resonate strongly with consumers' sense of nostalgia and childhood memories, changing ingredients to healthier options represents a grave risk

opinion leaders

For new product marketers, early adopters are important because they tend to be

a specific brand of soft drink

For which of the following is demand likely to be most sensitive to price increases?

concentrated

Four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and __________ targeting strategies.

touting key benefits of his firm's services

Franco is working on the message to convey in his firm's advertising campaign. As a starting point, Franco should first consider

cause-related marketing

Garland is recognized by his friends as an activist on many fronts. He prefers to buy products from firms that will donate part of the total purchase price to organizations he supports. Marketers recognize that this approach can be an important competitive tool; it is called

television

Generally, which of the following media outlets relies on a mix of visual and auditory techniques and is typically very expensive?

new buy

Greenwich University is buying a distance learning system. Previously, the school had no distance learning technology. For Greenwich University, this represents a(n) ________ situation.

Panelists scan their receipts on a home scanning device.

How is consumer panel data collected during the test marketing phase of a new product introduction?

It can ensure that pay practices are fair at all levels of the company.

How might a technology company like Apple ensure that it behaves in a socially responsible way toward its employees?

250 units

If the fixed costs of manufacturing a new cell phone are $10,000, the sales price is $60, and variable cost per unit is $20, the break-even point is

mexican products would be more expensive, while U.S.-made products would become comparatively less expensive.

If the inflation rate in Mexico was twice the rate in the United States, but the Mexican monetary authorities kept the peso-dollar exchange rate almost constant, which of the following would be true?

a specialty store

If you're a manufacturer, and you want to showcase your product in a store that has a narrow but deep selection of merchandise and where expert sales associates can assist customers with their selections, you'd most likely choose

conduct additional research and develop plans for meeting with the customer.

Imagine that a management consulting firm wants to sell a bank a new system for finding checking account errors. The consulting firm's salesperson has learned about the customer during the qualification stage, and the salesperson should now

conventional

In a(n) ________ marketing channel, none of the participants have any control over the others.

converting the sender's ideas into a message.

In integrated marketing communications, encoding involves

increase the share of wallet from their best customers

Internet buyers are sometimes surprised to see online retailers using information about their past purchases to customize promotions targeted to them the next time they visit the retailer's website. The retailer is using the information to

place

Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix?

zone

Karson Manufactured Homes charges $500 for deliveries within 50 miles and $800 for deliveries 51 to 100 miles away from their factory. The company is using a ________ pricing tactic.

seems best after weighing the concerns of all stakeholders.

Kenisha's company is facing a difficult ethical issue. The firm has identified the various stakeholders and their issues and gathered the available data. Everyone with an interest in the issue has engaged in brainstorming and evaluating alternatives. Management reviewed and refined the alternatives. It should now choose the course of action that

increasing market share, sales, and customer loyalty.

Lamar is assessing the long-term effectiveness of his firm's IMC efforts. He will probably analyze the firm's success in

rebate

Mario decided to purchase an electronic toothbrush priced at $100 because of a special offer from the manufacturer. By sending proof of purchase and the receipt to the manufacturer, he could receive a $40 check in return, making the final price $60. This pricing tactic is known as a

equity

Marketing expenditures allocated carefully can result in greater brand recognition, awareness, perceived value, and consumer loyalty for the brand, which all enhance the brand's

the company provides products with a high perceived value.

Pietro is in the marketing department of a midsized firm that develops and sells communications systems. He is proud of the human resource area in the company that provides the firm with excellent employees. Pietro himself really enjoys his work, but he knows the work of HR helps create an operational advantage for the firm because of all the following except

expensive, infrequently purchased, or associated with high levels of risk.

Postpurchase cognitive dissonance is especially likely for products that are

laggard

Rafael and Luisa live in the United States. Rafael recently asked for Luisa's cell phone number, but Luisa said she didn't own a cell phone. Luisa would probably be considered a(n) ________ in the diffusion of innovation process.

identify the type of data he needs

Raoul's custom auctioneering service provides online auction selling assistance. Raoul plans to conduct marketing research to determine which auction site is best for his customers. His next step is to

specific and mesurable

Regardless of the objective of an advertising campaign, each campaign's objectives must be

attempt to facilitate the collective agreement of all members of the buying center.

Roanoke Hardware is known for its consensus buying center culture. Recognizing this corporate culture, someone attempting to sell to Roanoke Hardware should

media buy

Rory was nervous about making the ________. He knew it was likely to be the largest expense in the advertising budget.

price inelastic

Samar customizes Harley-Davidson motorcycles. No two cycles are alike. He notices that very few customers even ask the price of his motorcycles before they decide to purchase them. Demand for his motorcycles is probably

"Have you completed the follow-up to ease the buyer's mind?"

Selima has been having a difficult time working with a particular buyer while using the personal selling process, and she has asked her manager, Cezar, for some ideas about how to close the sale effectively. Cezar asks her a number of questions to help sort out the difficulties. Which of the following questions would Cezar be least likely to ask?

Customer Loyalty

Sharon has gone to the same hair salon for the past ten years. She believes that her stylist, the salon owner, does a better job of cutting and styling her hair than anyone else could. Other salons have opened closer to Sharon's home, some offering more plush facilities or lower prices, but she isn't tempted to switch. Sharon's attitude toward the salon is an example of

a paid form of marketing communication.

The difference between advertising and publicity is that advertising is

prior to the sales presentation

The preapproach stage occurs ________ and extends the qualification of leads procedure.

cost of ownership

The pricing method that considers what consumers may be willing to pay for a particular product based on the value received over the product's entire lifetime is the ________ pricing method.

promotion

The publisher of the well-known Winnie-the-Pooh series wants to celebrate the 100th anniversary of the series, initiating a $200,000 campaign. This initiative represents the ________ component in the four Ps.

the number of impressions.

To estimate reach in terms of electronic media, marketers can use the click-through rate (CTR). To do so, they need to know the number of clicks and

bottom of the pyramid

To reach more customers in India, which represents a vastly promising market but where the GDP is less than $2,000 per capita, Netflix offers subscription plans priced lower than those offered in the United States. This market is known as

m-commerce

Ursula owns a pet sitting service. She recently paid a web developer to build a special version of her company website for use on smartphones. Customers will now be able to easily place orders for pet sitting on their cell phones. This is an example of

brand dillution

Wang tried a new fruit-flavored beverage and thought it was awful. He was especially disappointed because he had liked the dried fruit snacks marketed under the same brand name. Now he wasn't sure he even wanted to buy the snacks he had liked before. This highlights a problem in branding known as

Firms must consider the high costs associated with producing a small volume of product.

What is one of the drawbacks of using a price skimming strategy?

sales support personnel

When Bella realized she didn't have all of the technical information she needed to answer the customer's questions, she made a call to her office. Who would be most likely to provide appropriate assistance?

an external source

When Chris decided he needed a new car, he immediately called his old college roommate, who owns a Toyota dealership, to ask questions about options and financing. Chris was searching for information from

knowledge

When Juanita booked a room at the Wintergarden Resort, she expected that her room would be ready when she got there, the swimming pool would be heated, the advertised singer would be able to sing, and the breakfast would be fresh. When she arrived, she had to wait for her room, found the swimming pool to be 50 degrees, realized the singer could not carry a tune, and the free continental breakfast was stale. The Wintergarden Resort was experiencing a severe ________ gap.

choose a course of action

When Volkswagen owners began to report problems with rear coil springs, Volkswagen at first ignored or rejected the claims. Eventually, the company evaluated the issue and issued a recall. Which of the four steps of the ethical decision-making framework was Volkswagen performing when it recalled several of its models?

convenience for the customer

When choosing a retail partner, manufacturers consider

intangible

When marketers say that services are ________, they are referring to the fact that services cannot be touched, tasted, or seen, like a pure product can.

match the firm's competencies with a market segment's attractiveness.

When selecting a target market, firms will be most successful if they

creating value for their customers

Whether targeting consumers or resellers, marketers need to focus on

robots

Which of the following are commonly found in distribution and fulfillment centers to fill orders for stores or individual customers?

selling or fundraising should not be conducted under the guise of conducting research

Which of the following are guidelines provided by the American Marketing Association for conducting marketing research?

awareness

Which of the following are steps in the AIDA model?

FCCC

Which of the following is a federal agency that regulates advertising activities?

health and wellness

Which of the following is a social trend listed in the text?

consumer contests

Which of the following is an interactive element of an IMC strategy?

"What are the most important characteristics for choosing a brand of shampoo?"

Which of the following is an unstructured question?

the role of advertising in overall promotional objectives

Which of the following is considered a major consideration in determining an advertising budget?

assurance

Which of the following is included in the five dimensions used by consumers to determine overall service quality?

amazon

Which of the following is the most powerful and influential online marketer in the United States?

Within just a couple of years, mobile advertising will be a bigger market than digital advertising.

Which of the following is true with regard to mobile advertising?

It is important to the retailer in terms of convenience in handling.

Which of the following statements regarding secondary packaging is true?

more likely to have what customers want.

With more frequent shipments associated with quick response (QR) systems, a retailer is

trialability

Zappos.com, an online shoe store, offers an easy, no-hassle return procedure. This relates to the ________ of its products.

consultative

________ buying centers use one person to make a decision but solicit input from others before doing so.

qualitative research

recently, the number of students enrolled in the marketing program dropped while enrollment in the science program increased. The chair of the marketing department will probably use ________ as a first step to gain a better understanding of why enrollments are changing.

corporate vertical market system

tesla Motors, manufacturer of luxury electric automobiles, represents a(n)________ because it manufactures its own cars in Fremont, California, and it operates its own retail stores in high-foot-traffic locations such as malls and shopping streets.

the transmitter

the IMC communication process includes a(n)