quiz answers exam 2

_______ involves the use of a successful brand name for new or modified products in a new category

a brand extension

market-penetration pricing strategies work best for a new product when _____

a low price helps keep out the compeitition

A(n) _____ does not take title to goods and represents buyers or sellers on a more permanent basis than a broker

agent

a segment is less attractive if it

already contains many strong and aggressive competitors

which of the following wholesaler's channel functions is exemplified by buying in carload lots and then dividing these lots into small quantities

bulk breaking

which of the following product mix strategies does Amazon use when it sets the prices on Kindle readers and tablets?

captive product pricing

when developing products, marketers first must identify the ______ that consumers seek from the product

core customer value

which of the following is the practice of inviting broad communities of customers, employees, independent researchers, and members of the public into the new product innovation process

crowdsourcing

true or false: prices do not have an impact on a firm's bottom line

false

producers of a strong brand sometimes sell it to dealers only if the dealers will take some or all of the rest of its line. this is called

full-line forcing

_______ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes

market segmentation

_________ consists of evaluating each market segment's attractiveness and selecting one or more segments to enter

market targeting

companies facing the challenge of setting prices for the first time can choose between 2 broad strategies: market-penetration pricing and ______ pricing

market-skimming

______ includes all the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use

retailing

_______ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything

services

omni-channel retailers are those who _____

successfully merge the virtual and physical worlds

________ refers to the stage of the business buying process in which the buyer tries to find the best vendors

supplier search

Business buyer behavior refers to the ____

the buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others

acquisition refers to _________

the buying of a whole company, a patent, or a license to product someone else's product

Mansfield pharmaceuticals markets Zipro, an antibiotic. the firm has fixed costs of $1,000,000 and variable costs of $2 per bottle of 50 tablets priced at $10 per bottle. what is the break-even volume?

125,000

For some brands and industries, ________ is less sensitive to changes in price. For example, because of Apple's brand strength and differentiated products, its core of strongly loyal customers will continue to buy Apple iPhones and other devices despite recurring price increases

demand

Jeremy's, a handbag manufacturer in Lower Manhattan, procures a large stock of leather in anticipation of brisk sales of handbags during December. This is an example of a(n) ________ demand.

derived

_____ involves sending a letter, catalog, advertisement, or brochure to a specific physical address

direct-mail marketing

the bookworm began delivering books directly to customers through mail instead of selling through brick-and-mortar companies. This is an example of ________

disintermediation

bon vivant offers an assortment of exclusive French wines at incredibly low prices. These prices are neither limited-time offers nor special discounts, but represent the daily prices of product sold by Bon Vivant. This reflects bon Vivant's ____ pricing strategy

everyday low

Target partners with CVS health, which operates CVS pharmacies and Minute clinics in target stores through a store-within-a-store format. The partnership gives CVS health more than nearly 1,700 pharmacies and 1,100 clinics at prime locations inside target stores. this is an example of a(n) _______

horizontal marketing system

marketing boils down to 2 questions: 1) which customers will we serve and 2) _________?

how will we serve them?

when a company decides to commercialize a new product, it typically _______

incurs high costs

____distribution is a strategy in which producers of convenience products and common raw materials stock their products in as many outlets as possible

intensive

the buying center usually includes many participants who influence each other, so ______ also influence the business buying process

interpersonal factors

which product life-cycle stage is characterized by the highest cost per customer

introduction

The COVID-19 pandemic dramatically changed how business buyers and sellers meet, interact and make decisions. Work-from-home regimens and other social-distancing measures "forced B-to-B buyers and sellers to go digital in a massive way" This example shows that ________

major environmental disruptions influence business buyers

a flight takes off with 20 empty seats. this is an example of service _______ because services cannot be stored for later use

perishability

tennis superstar and entrepreneur Serena Williams earned $45 million last year from endorsements for brands ranging from Nike and Gatorade to Beats by Dre, Pepsi, and Chase Bank. Williams herself has become a marketable brand. She recently launched a fashion line-S by Serena-inspired by her own personal model of femininity, strength, and authenticity. "I want to be the brand," she says, "instead of just being the face." This is an example of _________

person marketing

_______ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

positioning

product costs set the floor for a product's _____

price

true or false: new products sometimes fail because they are launched at the wrong time

true

Ford makes great trucks. But to make and market just one of its many lines (say, its best-selling F-150 truck model), Ford manages a huge network of people within the company, from marketing and sales people to folks in finance and operations. It also coordinates the efforts of thousands of suppliers, dealers, and advertising agencies and other marketing service firms. The entire network must function together to create and deliver customer value and establish brand's "Built Ford Tough" positioning. This is an example of (a) ________

value delivery network

federal legislation on price fixing requires that sellers set their prices ______

without communication from competitors

If Detroit DLX charges the same price for the delivery of its product to customers located in the states near the Great Lakes, but a different price to customers elsewhere, the company is using ________.

zone pricing